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Share your dilemmas and get honest opinions from other Mumsnetters.

Is this an ok money situation for a 54 year old

57 replies

Moneymoneymoneymoneymoney · 11/05/2024 20:33

This is my friends financial position. What do you make of it? She is 54. I think she’s doing ok but she sometimes makes out she could have done better (divorce definitely impacted her financially).

House value (house in her name only) : £300k
Mortgage : £28k
Savings : £25k
Pension : she can take this later in the year and would yield £70k lump sum and £800pm (but she is going to wait so it increases).
Joint income with her DH : £5500 pm
Outgoings : £2500 pm

If she inherits (never a given ) she will get about £65k
If her husband inherits , he will get circa £1 million. But as DH dad is very young and fit for his age , her DH could be in his 70’s before he inherits.

OP posts:
Moneymoneymoneymoneymoney · 12/05/2024 10:57

I'm sure she said she had about £400k in the pension, so maybe she is talking nonsense? I have no clue how pensions work tbh. She is not on MN.

OP posts:
Moneymoneymoneymoneymoney · 12/05/2024 11:04

And regards salary, I know that some months the income is higher - around £6k or £7k in high season!!

OP posts:
notofthisWorld11 · 12/05/2024 11:28

Sunnyandsilly · 12/05/2024 07:59

I don’t think it’s the op no. I think she’s envious. Whether it’s a friend or not , I’d dispute, maybe a family member or colleague, I doubt it’s a friend.

Could be a family member, yes. It's just such a lot of detailed information to know about someone, particularly about their finances. Bit weird for me.

VanTullek · 12/05/2024 12:07

There have been a few posts like this recently and I never understand them.

She’s better off than most people. She’s also going through a divorce which will materially affect her income and assets. Both of these things can be true. If she’s actually a friend then try to understand that she might be feeling worried about it all and in need of reassurance. If she’s not actually a friend then maybe distance yourself a bit.

Itloggedmeoutagain · 12/05/2024 12:23

Moneymoneymoneymoneymoney · 11/05/2024 21:44

I’m trying to get some context about whether she’s doing ok for her age. I am much younger so have no reference point.

Why?
What on earth does it have to do with you?

KnitnNatterAuntie · 12/05/2024 12:45

Moneymoneymoneymoneymoney · 11/05/2024 20:59

Okay I’ll ask MN to delete.

OP . . . quite soon after you posted all your friends financial details you were picked up on this and said you would ask MN to delete . . . have you done this?
You have said the information isn't identifiable but you cannot guarantee 100% that someone doesn't recognise you from other things you have posted and will realise who this friend is

Are you going to tell your friend that you have posted her financial situation, information which she appears to have given you whilst drunk, on MN and pass on the advice and comments that you have solicited?

If not, what EXACTLY, are you trying to gain from this post? If your friend was a young single mum, for instance, struggling to pay rent and clothe and feed her children and you were asking for advice on how to help her I would understand but your friend is a 54 year old woman in a comfortable financial situation

I have read your comments about your friends divorce but this is in the past and there is nothing to be gained from going over past events

And are you 'sharing' this friends financial position with others in real life? Do you know & understand the dangers of sharing financial information?

I hope you will do what you said you would do yesterday evening and ask MN to remove this post . . . . .

AllCatsAreAutistic · 12/05/2024 13:29

Sounds like she is much better off than most people, but I can't really see what it has to do with you-unless one of you is asking the other for money.

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