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17-08-2019, 08:44 PM
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Re: What is a decent amount of income

Originally Posted by Muddy ->
At the moment that is a good income .
Certainly worth boasting about that's for sure.
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17-08-2019, 09:49 PM
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Re: What is a decent amount of income

Originally Posted by Mups ->
Sorry Aytee, but I think this is most odd.

I know I wouldn't go on a forum and tell strangers how much I am earning, what I have in savings, and what my house is worth! For an ex-police force I am especially shocked.

I hope you find a satisfactory answer, though seeing as no one knows what lifestyle you expect , let alone what your life span will be, I don't see how you can get an accurate answer?
Had the same thoughts as yours myself Mups .
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18-08-2019, 12:25 AM
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Re: What is a decent amount of income

I'm in a similar situation as I've said before, but no, I wouldn't tell anybody apart from my wife exactly what I'm earning/taking from my pension/leaving in there. You don't submit your personal income and other similar details to the world. That's just stupid and naive.
And a police officer should definitely know better!
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18-08-2019, 12:49 AM
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Re: What is a decent amount of income

I understand how some people keep their income private. THat's their business. But I don't care myself. When my wife and I were both working full time, I had two jobs (One for various organisations and the other my private practice) and she had one. We were earning nearly $300k a year between us. To some on a basic wage with no skills margins that may seem like a lot. To others it is chickenfeed. It's all relative. But in both our opinions, even with a child to support, That was certainly enough for us. Now my wife still works FT but we live on less than half of that with the last of a mortgage still to pay. Our son does work part time and contributes. Our house needs work and the car needs updating. It will happen in time. Some of our friends are wealthier and get to go on overseas holidays more often. Big deal. Other friends have trouble making ends meet and are struggling.We still feel far from poor. No complaints at all.
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18-08-2019, 12:55 AM
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Re: What is a decent amount of income

Originally Posted by Floydy ->
I'm in a similar situation as I've said before, but no, I wouldn't tell anybody apart from my wife exactly what I'm earning/taking from my pension/leaving in there. You don't submit your personal income and other similar details to the world. That's just stupid and naive.
Of course it is .....
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18-08-2019, 01:00 AM
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Re: What is a decent amount of income

Originally Posted by Omah ->
Of course it is .....
I agree. I just said what I earned (Then and now) but what I haven't disclosed is my full name, address and bank account numbers and anything else that could reveal me to a potential cyber crook. So I am a "hypothetical"..Is that still stupid? If it is well what can I say?..silly me.
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18-08-2019, 08:31 AM
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Re: What is a decent amount of income

Pension wise offer good advice, but you need an independent pension advisor to advise you in what is best for you, I was going to see one in June but couldnít make it, I will go in October, Iím hoping to semi retire next year, find a job doing something for a few hours a week, or even full time, just to avoid weekends and get out of the company I work for, I donít have anything worked out financially, but Iím not too worried, something always turns up,we both have to wait until weíre 67, until we get the state pension, but Iím hoping to draw on my workplace pension and a private pension, the lady from pension wise said they are both good pensions..
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21-08-2019, 09:06 PM
38

Re: What is a decent amount of income

Originally Posted by Aytee ->
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.
Can we assume your house is paid off ? No mortgage?

And what have you done with your savings? Are they just sat in a crappy bank account earning laughable interest ?

If you invest wisely you should be ok imho but there's the rub. Investing wisely is a skill ad comes with risk.

You should get advice about what to do with the savings imho and make sure it is working for you earning good interest. Diversify so all the eggs are not in one basket.
An IFA should be able to suggest options.

Going forward your house will provide equity. You could release equity later on or sell and downsize to liquidate its value.
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