Planet Retirement can sometimes be a bewildering place and with a scarcity of UK retirement blogs out there (other than those proffering financial advice) I thought I'd keep my own.

Please visit from time to time and do add your comments. Popular posts and those highlighting my journey are specifically pinpointed on the right hand side together with a list of topics covered. Alternatively you may prefer to look at the Summary or the Tips from Wisdom Acquired or even our Have Visited List with its retirement atlas and dip in and out of the blog using the links given.

Sunday, 17 May 2015

Expenditure in Retirement

So many people feel they cannot afford to retire and whilst this may be true for some, there are others who have not done the maths. Before Mister E and I decided to take the plunge, we felt that it was important that we worked out the extent of our expenditure as opposed simply to an income and savings forecast. We accordingly tracked and broke down our spending, then, satisfied that the kind of retirement we sought was indeed an affordable option, jumped in.

We have continued to analyse our expenditure and, as we anticipated, in retirement spend less on some areas (primarily car expenses and clothing) and more on others (travel, leisure and incidental costs in particular). Surprisingly utility bills which we had assumed might increase significantly with our daily presence have not done so, presumably offset by our various absences.

The most important thing, however, is that by now knowing what we use our money for, we are in control and, should the need arise, would be able to alter our spending habits and consumption levels accordingly. 

If anybody is unsure whether or not they too can afford to retire I would recommend analysing your plans for the kind of retirement that you realistically seek  and your likely monetary outgoings as a result. You are after all able to exercise more control over your spending than your income.


  1. I had a buyout, and I have two more paychecks coming in. Then we enter the stage of taking money out of our retirement account rather than putting money in. I am nervous, though we did think this through and have planned carefully. Still, it feels weird.

    1. However carefully we've done our sums when you have been used to receiving a regular income from work, it is worrying. After all having made what is a momentous and in most cases irreversible decision to retire, we are either trusting to luck, proper planning and/or good management for our future and no longer an ability to earn. I agree that feels weird after years of earning and inevitably I have to resist an urge to keep checking figures to make sure we have got it right.