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Retirement

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Original poster

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

369 replies

serin · 02/09/2025 23:17

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.

OP posts:
tinytemper66 · 03/09/2025 06:50

Amazing. It is what I take home as a teacher about to retire…
unless you have champagne every day, you will have a great lifestyle!

Soontobe60 · 03/09/2025 06:54

FinanceLPlates · 02/09/2025 23:31

Are people missing that the £3,145 is joint income? So £1,572.50 per person?

No. Are you missing that household bills would be practically the same for a single person vs a couple?
OP, we love on £3k a month very comfortably. Don’t forget you’ll also receive your state pension at 66/7 to add another £12k to the pot.

MyTommyGunDont · 03/09/2025 06:56

ILoveWhales · 02/09/2025 23:40

Am I right to understand that you don't think you can survive on nearly a thousand pounds a week?

Maybe the OP, like me, doesn’t want to “survive” in retirement and instead wants to live comfortably, and the question is “can I live comfortably without having to worry about money on just over £700 a week (I can’t tell if the £3,800 is the total lump sum in her private pension or if it tops up the income so I’ve ignored it. If it tops up the income replace £700 with £850).

TeenToTwenties · 03/09/2025 06:57

It also depends whether the pension is index linked (and if so which measure of inflation is used).
Also what happens when husband dies.

NetZeroZealot · 03/09/2025 06:58

There are various websites which tell you what pension pots you need for a an average & comfortable lifestyle.

I’m in in a similar position OP but a bit older. I decided not to retire completely but to reduce my workload to 2 days a week for a year. Then retire. I think a transitional approach is better to avoid boredom etc.

IDontHateRainbows · 03/09/2025 07:01

I'd be bored shitess. Can you do something part time to have the best of both worlds?

Popstarrrrr · 03/09/2025 07:01

dottiehens · 03/09/2025 01:02

In London doesn’t seem that much as some here are saying.

Without housing costs, I'd argue London is a much cheaper place to live. Plenty of reasonably priced public transport, numerous markets and supermarkets, can walk to places and enough shops and eateries to keep prices competitive. As a Londoner I find prices higher in the provinces.

Insertfootnote · 03/09/2025 07:02

It's a very comfortable amount OP and you know it. Why did you post? To make yourself feel better when people told you they survive on half that? So you feel superior? Very insensitive.

Hayley1256 · 03/09/2025 07:04

It's sounds doable if you have no major bills. If you still want to build savings could you claim tour pensions but take on a part time job?

ProfessionalPirate · 03/09/2025 07:14

ILoveWhales · 02/09/2025 23:40

Am I right to understand that you don't think you can survive on nearly a thousand pounds a week?

The OP and her DH don’t want to just survive, they want to travel and see the world. Of course that figure is plenty to simply live on, but it won’t cover lots of big trips. And presumably that is what the OP’s DH has in mind, given that 2 weeks in the south of France could easily be managed with the OP still at work

Bumblebee72 · 03/09/2025 07:15

Is it index linked or a fixed amount for life? That would make a huge impact on the decision to me.

OhamIreally · 03/09/2025 07:18

TeenToTwenties · 03/09/2025 06:43

It doesn't have to be now or 10 years. It could be 5 years, or part time.

Possibly best to let him ease into retirement, take up some hobbies, do more of the household load etc. Let him get established, then think of your own plans.

This is the answer OP. Also agree with PP that his desire for you to retire is about his wants and isn’t considering your needs. Think about what you want. It’s your life to live as you choose.

jenny38 · 03/09/2025 07:20

What would your income be, if your husband was to pass away? This is also worth considering, as we don't know what the future holds.

Anon501178 · 03/09/2025 07:21

Of course its fine....
We manage on a similar household income with 2 kids and £800 rent each month! But with just the two of you and no living costs you'd be fine with plenty of spare money for some luxuries.

CutFlowers · 03/09/2025 07:22

I think you need a budget - both for your joint income and if you end up on your own

rookiemere · 03/09/2025 07:25

serin · 02/09/2025 23:37

Yes 57.
My job involves manual handling and it is stressful and exhausting but I think being at home all the time might be soul destroying. I'd have to do voluntary work or something.

Show quote history

There is a half way house. Look for part time jobs in your local supermarket or admin type roles if you have the qualifications for that. I am in a similar situation and don’t want to give up work entirely but need to step back from full time employment.

rookiemere · 03/09/2025 07:26

Or indeed reduce hours in your current employment.

ByQuaintAzureWasp · 03/09/2025 07:26

£3800 is enough, better if its after tax. We live off less and do what we want to do, but we are going through our savings.

MontyDonsBlueScarf · 03/09/2025 07:27

I've been in a very similar position. I've realised that, coming from a poor childhood, the big issue for me isn't not having enough money. It's being afraid of not having enough money. Even if I have enough now I'm still afraid of not having enough in the future.

in reality I have plenty for my needs and some of my wants, but I still worry. I try to view it with amusement as an odd quirk, rather than letting it get to me.

In the end I retired early and DH and I spent a lot of time together. He died a few years ago and I'm glad we did it that way.

SliceofTosst · 03/09/2025 07:29

Go part time for a while.

OhNoNotSusan · 03/09/2025 07:29

why dont you downsize

Anon501178 · 03/09/2025 07:31

Readyforslippers · 03/09/2025 04:18

It sounds like loads, especially given you've no mortgage. Many full time jobs, like most teaching and nursing roles will pay not far off half that!

I'm pretty sure that full time teachers earn more than £1500 month!

Empress13 · 03/09/2025 07:31

That’s nearly £1000 a week so yes I would say so especially with no mortgage but obviously it depends on the lifestyle you have

RichPetuniaAgain · 03/09/2025 07:32

OMG OP, that’s an amazing amount of money. You’ve paid off your house so you should have a great standard of living on that 😁💐

Owly11 · 03/09/2025 07:33

Wow I wish I was looking at that amount in retirement let alone right now! It sounds a lot but it depends what your outgoings are. If they are currently more than that then you would have to change your lifestyle. Can you afford to stay living where you are or would you have to downsize. What do you want to do in your retirement. You need to do all the sums because we can’t help you with those.