What would a retirement on £3,145 a month look like?

[serin]

DH has retired. He is 10 years older than me and wants me to retire as well. His reckoning is that if I work another 10 years he will be 77! Just 3 years off 80 and it won't give him long to have the freedom to travel much as a couple etc.
If I retired tomrw our joint income would be £3145 per month. If I took my small private pension it would be £3800 in total.
Does that sound like a reasonable amount to live on or am I deluded?

We own the house outright and do have some savings. Our DC have flown the nest.
I grew up in absolute poverty and even whilst our children were small there were times we were really struggling. I think this has affected my attitude to money and I'm terrified of not having a steady income and returning to egg on toast every night.

Does £3800 seem ok as a long term situation? My friends are of a similar age, some retired and some not, money is never discussed so I have nothing to compare with.

But possibly in a very judgemental way and arguing over what was 'necessary'.

It is so variable that it is hard to say. I don't smoke or drink alcohol so zero for me but could be lots of money for others. We own our house so no rent. I have a car but to be honest I could live happily without it. I have no credit card debt or any other debt but that could be a big drain for others.

I think I'd go through regular outgoings, council tax, gas and electric, food bills and see what it comes to for you, then go through bank statements and see what else you need money for like hairdresser, optician, holidays, clothes. That will give you a starting figure.

Hope you are able to work out the best plan for you and your DH.

My hygienist is £90, so more expensive that the pp!

We've had a water meter for years- but thanks for the post.

@LornaDuh So sorry, My reply was for another poster who was querying the cost and saying it was a 'typical MN thing' to choose the most expensive as the only option.

Sorry.

I see the hygienist 4 x a year because that is what my gums and teeth need.
Sometimes because of availability it's just 3 times. They are booked up months ahead. There is a shortage of them.

Honestly I’d do it. I know there’s a slight risk that what if your dh dies before you get to state retirement age. But hopefully he wouldn’t and even if he did £1800 with no mortgage plus savings should be enough to live off until you get your state pension. I don’t have a mortgage and my direct debits are about £800 a month and there’s of lot of unnecessary subscriptions in that. I know I could live off £1800 a month ok.

We have 57k gross and have about 4,400 net per month. 4 bed house, two dogs, no mortgage. This is loads to live on. We have a long haul holiday every two years and 3 or 4 European or cottage holidays other years. We go out to the theatre and cinema a lot. Visit our sons in London and have very good Christmas and birthdays . We run 2 cars. I spend a lot at the hairdressers and have more than enough for nice clothes though I tend to buy in the sales. I do run the finances with a lot of attention and a budget though and as we live in a rural area there are some months we spend very little. I don’t have a cleaner or gardener. Remember you will have a state pension to come in a few years time.

Not judgemental but I sure hit a nerve!

And it costs £50 a month 😯 I knew it varied between suppliers, but for two of you, that’s very expensive.

You did sound a bit judgemental to be fair

Oh good grief 😂

I think the written word can sometimes come across that way when not intended.

Then accept you misjudged and move on. This was an interesting thread until people started chipping in with how much their hygienist charges.

Or until you queried how often people see the hygienist.

<loses the will to live>

oh come on, there are families with mortgages and huge nursery fees bringing home less than that.

Jesus Christ 🙄

So much drama.

😂