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susan m
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01-03-2020, 09:36 PM
41

Re: What is a decent amount of income

A fortune / lottery win to me too

Sounds amazing to have that amount of future

Best of luck
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Lindyloo
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isle of wight
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01-03-2020, 11:08 PM
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Re: What is a decent amount of income

Originally Posted by Aytee ->
I am bringing in just over £2000 take home from a work pension and a part time job and my bills come to £815 at present.

I am 54 and worried that it may not be enough in the future. What does anyone else think? I have £150000 in savings and my house is worth 470000.
This may help you:

https://news.sky.com/story/revealed-...ement-11837527
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02-03-2020, 04:47 PM
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Re: What is a decent amount of income

Aytee, properly invested your savings alone should be bringing in around £7,000-7,500/yr gross. As others have said, find yourself an IFA (first ½hr chat is usually free). He or she will help you to decide on what level of risk you are willing to take with your money and what goals you want to achieve with it. Make sure the IFA is truly independent (should tell you in the first 5mins).
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02-03-2020, 06:36 PM
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Re: What is a decent amount of income

Hi

I do not need a big house or a new car.

I am divorced after a long term marriage.

Sold the house, split the Pension.

Paid off the Kids Student Loans and have a nice 3 bed Ex Council, no mortgage and my car is mine.

Even after splitting the Pension I have over £30k a year plus my state pension after Tax.

I only pay Basic Tax, as part of my Pension is Tax Free as it is an Injury Pension.

I also do the Rent A Room Scheme, which is £7000 a year Tax Free.

I do not intend to pay Inheritance Tax, so my savings are Minimal.

I also give my son money, it is paid out of Income, so does not count

I will never buy a new car, I buy Ex Works, 3 years old and run them until they die.

I shop at the Market and Lidl and grow my own.

I spoil my Pretend Grandkids and support Local Charities.

I have really good holidays.

I am content with life.
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03-03-2020, 10:58 PM
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Re: What is a decent amount of income

It is all relative to your life style

That is a decent income even if working.

However money soon goes if you smoke, drink, and take many holidays

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04-03-2020, 09:43 AM
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Re: What is a decent amount of income

Older people advertising wealth on the Internet must confirm to scammers that it's worth their while to keep targeting the elderly. I think we need to let them read how poor we are.

Like many pensioners, I haven't got two ha'pennies to rub together ..honest.
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susan m
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04-03-2020, 11:30 AM
47

Re: What is a decent amount of income

When you think the full state pension is around £169 a week and we manage our lifes quite well on that . I did smoke but gave up , i do eat out maybe once a month but never spend more than £25 on the meal . I get help with my council tax and am grateful for it too . I have had holidays but always always on a budget , other than a holiday of my lifetime to Thailand 4 years ago . Now it will be little coach trips . I do run a car but have decided if im still here at 80 ill give up driving .

Ive never known any other life style so what ive never had ive not missed if you get my meaning.
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04-03-2020, 11:44 AM
48

Re: What is a decent amount of income

All you need to know is Mr Micawber's recipe for happiness:

"Annual income twenty pounds, annual expenditure nineteen pounds nineteen shillings and six pence, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

(Charles Dickens, David Copperfield )

Fortunately my income has always exceeded my expenses and I am very happy about that, what else is there to worry about?
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