Is living on the state pension really that bad?

[cateringday]

I mean, if you own your home then you’re getting around £250 a week just for bills and spends.
i have a tiny pension and DH has none. I am always worrying about this but then realised that we will have no rent or mortgage to pay.
im just wondering if it would be as awful as people make out? I hear stuff saying you need £300000 in pension pot to have a comfortable retirement, why would you need that much?

These are all cold countries that require a lot of heating in winter.

Do you have any sunny climes?

If you’ve always lived off benefits youll be fine as your used to penny pinching. If you’ve lived a luxurious lifestyle then it will be difficult.

My dad lives on his state pension. Owns a house and still drives. His house needs a new roof really and there is no way he can afford that. He’d 90 and in very good health, but not good enough to do the roof himself anymore. There is very little left over and as a tradesman wasn’t in the right environment to consider private pensions. He also feels the cold so heating is a worry.

@Charlize43 The UK particularly in the northern regions and especially Scotland are not particularly warm countries.

Dentist,
hairdresser,
optician,
podiatrist

I have to admit I agree with this. Pensions are the highest welfare spending in the country. The state pension is unsustainable. Makes sense to transition to a time where people are made to save up for their own retirement with private pensions. People actually work and make a plan to have savings in the future.

You need to consider if you have savings.

We've never had dental insurance because on balance it's been better value to pay for anything and we can afford to.

However, if you want to use a private dentist the fees are high- this year we have paid over £500 in one month for small fillings, a re-filling and hygienists.

We can afford this but if you're on a low budge you need to factor this in too.

Anywhere in England? I get free travel in London, but free travel doesn’t go everywhere.🤷‍♀️.

It does with a bus pass if you're over 60.

You'll get your rent paid. There might be new build, over 55 housing, available. That puts housing costs down. Too much private pension and it just means less housing benefit.

I don't see struggling pensioners, I'm not saying there aren't any, but there's enough free lunch, events etc schemes, free bus pass, that they get out and about and can afford a Spain holiday. Most pensioners don't want the holidays that posters think they will. Cruises are expensive, of course. It's a matter of luck what's available in your area. Then there's those who have had children in their 40's, which means you may need to still support your child. The advantage of always being poor, means you aren't used to shopping at Hobbs and holidaying in the Maldives. So you can get by.

it’s not that, but the pension was intended to give us the means to survive when we couldn’t work. Everything else is over to us.

unfortunately not; it’s state pension age most places

You can live on the State Pension as long as everything is trouble free. It’s not so simple when you need to replace appliances, maintain a vehicle or need costly house repairs.
All fine if you have substantial savings but life can become very difficult very quickly if you haven’t.

Doable, just. And then the oven/frig/boiler needs to be fixed/replaced.

An option might be equity release. An amount enough to sort the roof, so he can continue to live there in comfort.

Then there's those who have had children in their 40's, which means you may need to still support your child

If your child is almost 30 there is no need to support them. Prioritise your own old age. Not selfish but sensible. Kids who refuse to to act like adults are destroying their parents lives.

The area in which you live, the facilities and shops, libraries, clubs and transport links not to mention easy access to healthcare have (I believe) much more of an effect on your general well being as you age.
To live somewhere remote without a shop or anywhere to socialise if you can no longer drive would be severely limiting and cost a fortune in taxis.
My retired friend has moved to a village where the bus route and shop closed down after 2 months of her moving there.

Yes, all expensive. DM’s monthly podiatry is a significant cost.

I agree. My next big birthday is 60 and I’m wondering why they don’t just put us all down.
Seriously, I see so many posts on here about what people have in pension pots.
As if someone doesn’t have one they are told to get a better job.
A huge proportion of the working population will never have a decent pension scheme, or one at all. So the state pension may be able they have some after working for five decades.

I pay the private dental ins £21 pcm.

I seldom need a podiatrist and cut my own hair.

Yes, anywhere in England using the buses local to that area - not coaches obviously.

You have to be State Pension age and you apply for the bus pass at your Council offices.

Travel is time restricted - I think after 9.30am but I may be wrong.

So for instance, I live in Southampton so could get buses to Portsmouth, New Forest, Romsey, Salisbury etc. I could then get buses from there further away, throughout England.

The downside is the journey times because of all the stops, but Gift Horse in The Mouth and all that 😁

30 years? I bloody hope not! How many people live to be 97, or would want to?

I'm 51 and husband 60 - neither of us have any private pensions worth a great deal, probably 50k between us if that. But we live a good life now. Personally I don't see the point of paying money into a private pension when you may never see any of it (if i'd worked a normal job all my life I probably would have done just this but I haven't, i'm self employed and it was something that passed me by til it was too late to make any great difference). There's a group on FB called Epic Retirement with some ridiculous figures talked about - but I don't want an epic retirement, i'm happy with my epic life thanks :) We have always said, if we get to the age of 70 and we are sitting in our house eating beans on toast then so be it - the previous 50 years would have been amazing! We have heard of too many people not making retirement for us to worry about it.

I know, it’s a frightening prospect. I’m sorry you lost your husband.

Are you sure?
3 of our 4 parents are in their late 80s and show no signs of nearing the end. They are as I remember my grandparents being in their 60s. People tend to spend a lot of years with poor health, and ours aren’t really there yet. FiL will be 90 soon and has reached the ‘happy in his chair with the tv’ stage. No actual ill health, just frailer than he was. Mil would be out on bus trips and shopping every day if she could find someone to take her. She’s only 86 though. DM is still driving, going to events, shops, theatre etc. Short of a sudden severe illness, none of them are going anywhere for a few years yet.