Anybody been here

[Turncoat]

Hi All

I am 56 and have been thinking of retiring, my health is not great and my teaching job is relentless.

My DP and I will not have a mortgage and our income will be about £1000 a week index linked.

Does anybody else live on this?

What kind of retirement do you have?

I don’t have that to live on at 62 working 52.5 hrs a week. £1000 a week?

You're asking if you could live off 4.3k with no mortgage??

I've been a member on here a few months now but still don't understand posts/threads like this...

How could you possibly not live on £1000 per week with no mortgage?

Without being disrespectful if you're not in the best of health - hence wanting to retire - I take it you won't be going on lots of long haul holidays - golf trips etc.

It just bemuses me how you don't think you could live on that amount per month unless you have hugh existing debts to repay or live a very lavish lifestyle and wish to maintain this???

Wtf

It depends on your outgoings in the new home and any other ongoing expenses, lifestyle etc.

Personally I would be aiming for that ballpark retirement income. £2k a month each, £2k expenses (bills plus luxuries like cleaner, gym, classes etc) and £1K a month each for enjoying Inc travel and treating the family.

No,no, it is not enough to live on, not nearly enough. Watches as the help polishes the silver!!!

Maybe it would help us understand where you are coming from if you explain why you are worried it might not be enough?

Oh, bless your heart—you might just scrape by if you master the ancient art of eating rice and showering in rainwater.

You'll be fine, just don’t accidentally spend it all on gold-plated toilet paper!

Not sure I understand the piss taking; it's between 2 of them and although there's no mortgage there will still be council tax, utilities, food, car costs etc. which will probably take up at least £1,000 a month, leaving between £1k and £1.5K per month each for personal spending. Then there's the one off expenses like a car service, or dental work for example, and it soon goes.

I think it's do-able op, as you won't have work expenses like travel/parking/clothes/lunches, but I'd be careful for the first few months until you've worked out your new lifestyle. Make sure you both use your full tax allowance if it's possible to split your income evenly. Good luck and I hope you enjoy your new freedom.

What's your income now? I assume it must be close to 8k per month if you are worried about managing on 4k.