Affording a moderate quality of life in retirement

[KRO]

"They estimated that a single person needed £14,400 a year for a minimum income, and £43,100 a year for a comfortable retirement."

£43.1k is significantly higher than the median pre-tax household (note: household, not individual) income in this country. That £43.1k will not be taxed to the extent earned income is, it proportionally won't be eaten by significant housing costs. What the hell are they on about?

If it’s right I’m fucked

[Tom Joad]

We'll never retire anyway...

https://www.pensions-expert.com/Law-Regu...ws?ct=true

I am already the oldest person I know doing my job. Good fortune and (touching all the wood I can find) good health have enabled me to continue in a very physical job. I really don't see too many doing it at 71 and I certainly don't intend to.  BTW, when I left school (aged 15)and drifted from job to job, most factories let those over 60 to get on with sweeping up or taking the rubbish out. Seems those days have gone.
What I would add to the thread is similar to Ossian's advice. You don't eat as much as you get older. I don't go to nightclubs or on 2 day benders. I don't "need" the latest gadget. Oh, and I never "needed" a fuckin' gap year.

[Cheshire East Baggie]

"They estimated that a single person needed £14,400 a year for a minimum income, and £43,100 a year for a comfortable retirement."

£43.1k is significantly higher than the median pre-tax household (note: household, not individual) income in this country. That £43.1k will not be taxed to the extent earned income is, it proportionally won't be eaten by significant housing costs. What the hell are they on about?

Not sure where you get that from. All pension income is taxed. The only thing we don't pay is NI, once we reach state pension age.

Seems a big number though, especially as it disregards housing costs.

[Babel]

Make sure you’re insured—if possible—in case you have to leave the work market prematurely.

[CarlosCorbewrong]

We'll never retire anyway...

https://www.pensions-expert.com/Law-Regu...ws?ct=true

Don't worry, since 2010, life expectancy in this country has been reducing.

Tell me you haven't read the article without telling me you haven't read the article.

You have to register to read it.  I don't read the shite you link when I don't have to give away my email address.

[Hughie Reed 31]

"They estimated that a single person needed £14,400 a year for a minimum income, and £43,100 a year for a comfortable retirement."

£43.1k is significantly higher than the median pre-tax household (note: household, not individual) income in this country. That £43.1k will not be taxed to the extent earned income is, it proportionally won't be eaten by significant housing costs. What the hell are they on about?

If it’s right I’m fucked

I don’t think you’ll be on your own

[CarlosCorbewrong]

"They estimated that a single person needed £14,400 a year for a minimum income, and £43,100 a year for a comfortable retirement."

£43.1k is significantly higher than the median pre-tax household (note: household, not individual) income in this country. That £43.1k will not be taxed to the extent earned income is, it proportionally won't be eaten by significant housing costs. What the hell are they on about?

A quick google of the authors tell you what you need to know:

"We represent pension schemes that together provide a retirement income to more than 30 million savers in the UK and invest more than £1.3 trillion in the UK and abroad. Our members also include asset managers, consultants, law firms, fintechs, and others who play an influential role in people’s financial futures."

I think it's very public spirited of them to set higher income targets for pensioners.

[Tom Joad]

"They estimated that a single person needed £14,400 a year for a minimum income, and £43,100 a year for a comfortable retirement."

£43.1k is significantly higher than the median pre-tax household (note: household, not individual) income in this country. That £43.1k will not be taxed to the extent earned income is, it proportionally won't be eaten by significant housing costs. What the hell are they on about?

A quick google of the authors tell you what you need to know:

"We represent pension schemes that together provide a retirement income to more than 30 million savers in the UK and invest more than £1.3 trillion in the UK and abroad. Our members also include asset managers, consultants, law firms, fintechs, and others who play an influential role in people’s financial futures."

I think it's very public spirited of them to set higher income targets for pensioners.

Ar. They don't tell you how many never live to see their pension, eh.

[HugeHons]

"They estimated that a single person needed £14,400 a year for a minimum income, and £43,100 a year for a comfortable retirement."

£43.1k is significantly higher than the median pre-tax household (note: household, not individual) income in this country. That £43.1k will not be taxed to the extent earned income is, it proportionally won't be eaten by significant housing costs. What the hell are they on about?

A quick google of the authors tell you what you need to know:

"We represent pension schemes that together provide a retirement income to more than 30 million savers in the UK and invest more than £1.3 trillion in the UK and abroad. Our members also include asset managers, consultants, law firms, fintechs, and others who play an influential role in people’s financial futures."

I think it's very public spirited of them to set higher income targets for pensioners.

My thoughts when I first read it. They want ya money.

[ColliersWoodBaggie]

In a non-depressing (at least mental health wise) will it be worth living in 30odd years time, the way the world is going?

Climate change
Crimes
Society
Wars
Population increase

I can't imagine that by the time I reach retirement age it'll be a pleasant world to love in.

You forgot deadly disease.