To be bitter about spending savings?

[brownpaperparceltiedupwithstring]

I know many others are probably having to dip into savings atm - anyone else annoyed to be feeling that way?

For the third time in 12 years I’ve been hit by longish term sickness (unconnected) meaning I’ll have to dip into savings to help cover bills. I know savings are to cover us for rainy days but it feels unfair!

I keep trying to save for a house deposit so I have options for retirement age, read a government article that helpfully told me if I don’t own a house when I retire then I’ll need more in savings/pension (no shit Sherlock!) - and in the meantime it’s harder to save that because rent is/has been more than mortgages.

Also seen that over 65s are the highest rising age bracket for homelessness with comments that they should have been more prepared for retirement situations - if I end up struggling will people blame me for not being prepared/saving enough/working hard enough?

Although at this rate it might be that I have better health in my 50s/60s than 20s/30s!

Well what do you think should be happening ?

If this is the third time, why not look into an income protection insurance policy?

Plus you look into income protection insurance? Although many policies were withdrawn due to Covid so I’m unsure if it’s still an option?

Could you that should say.

I've just had to spend all my savings on a car as I need a reliable car for work. Driving long distances, public transport not an option.

The cheapest decent car I could find was 8.5k and its 9 years old.

A few years ago a similar car would have been half the price.

Yes it's shit to see your savings go down and have to start again but cest la vie and its better than getting in debt

It’s hard but it’s good you have the savings. And as others say; perhaps look into income protection?

Are you self employed?

Do you not get sick pay?

Not got any savings to dip in to so you’re winning, I’d say.

Thanks everyone for the perspective, clearly having a day wallowing in self pity!

Yes I should be grateful I have savings rather than getting into debt or losing my home etc.

In respond to questions:

income protection, I’ve tried a few times through specialist independent brokers but health history has excluded me. Not tried since well before Covid so maybe time to try again - good suggestion - thank you @thebellagio @Peony654 @RoseBucket

@MMorales , no I’m not self employed so I do get SSP, the current rate covers almost half my rent so again better than nothing I suppose!

@CandyflossKaren - I’ve no idea - guess I’m just frustrated that I can’t go to work and earn money - I like earning money 😂
and whenever I think I might be in with a shot of being a homeowner something goes tits up! I don’t like the thought of others thinking I’m a skint pensioner because I was too busy scoffing avocado toast to work!

@PurpleGreenandWhiteAreTheNewPrimaryColours Sorry to hear that. I’ll try and channel your positive attitude and be grateful for having savings and that at some point I’ll probably be well enough to start saving again. Thank you. Enjoy the new car if you can.

Speak to an insurance broker. They’ll likely be able to sort you out with an income insurance

Could you tell me where you've seen the stars re the over 65s please?

I’ve tried Smartercover and Dewberry in the last 5 years. Smartercover did find me life insurance. After about 7 months Dewberry apologised and said they couldn’t do anything.
Would you have any recommendations?

@sadaboutmycat
This is one of our local charities, they were talking on the radio. https://simononthestreets.co.uk/news/the-ageing-homeless-population

Although looking at the article and links the stats are a few years out of date, can’t imagine it’s got better rather than worse though.

"if I end up struggling will people blame me for not being prepared/saving enough/working hard enough?"

"I don’t like the thought of others thinking I’m a skint pensioner because I...."

@brownpaperparceltiedupwithstring Who are these 'other people' who's opinion you fear so much?

If they're strangers, then their opinion doesn't matter, or more likely, they won't actually have an opinion on you as an individual. If they're acquaintances then they haven't walked in your shoes, and regardless, they might actually admire your for being savvy enough to have had savings in the first place and have the wherewithal to support yourself so much. If they're friends they won't care about how your past went, how small your house is or how often you buy new shoes.

Easier said than done, but don't worry about the opinions of others. Do what's right for you, not others.