What monthly income do couples need for a comfortable retirement?

[sha777]

Hi.
I'm just trying to work out what we need money-wise in retirement.
Can anyone give us a real-life experience of what they live on.
Our requirements are quite simple we have no debt or mortgage.
Couple of holidays abroad per year and like to eat out once a week .
Were hoping £2500 a month will give us that.

Yes @snowymarblesthey do talk about it periodically. Fingers crossed it’s still around when we get to 60 but bus only would still be ok. It does mean you can have very low cost days out in London. Dh brings a packed lunch, even a can of beer sometimes in a cool bag and sits in a park or by the river for lunch. Then off to a free exhibition or talk or recital or one of the free museum or galleries. He has a Picturehouse membership (discounted for over 60’s) so goes to the cinema if it’s raining. He goes to Lords or the Oval after lunch or 4pm when it’s either free or £10 to get in. He’s never bored or out of ideas of things to do. I often get the call to hop on the train and join him after work. I’m quite envious.

We like to travel and that has become very expensive so making the most of all the freebies is great. Also, I think we’ll be active like this probably up until our 70’s so the period age 60-70 will be more expensive time for us. Obviously there might be care costs after that.

In many areas you do not get free bus passes until you are legally state pension recipient.
I would struggle to live on the state pension only. 894 pounds a month 😬

I couldn't live on that either. Regarding free bus passes. We all get ours at 60 in Scotland, and everyone under 22 gets free passes too.

A full 'new' state pension isn't £894 pm?

It's £241.30pw, usually paid 4 weekly, just over £1kpm. Still a low amount to live on, especially if single.

Mine is 223. 62 per week. 11, 630.32 .

It's paid every four weeks though, so you receive a lower amount 13 times a year. Not everyone gets the full rate.

People will get different amounts due to various factors.