RetireJapan

The one thing that struck me most was that traditional thinking seems to suggest 100% 'risk-free' assets in retirement.
So cash and annuity.
But, to counter inflation, you need some higher-risk assets as well.

https://www.thisismoney.co.uk/money/pen ... ement.html

37,300GBP annually is an enormous amount of money. I have no idea where they got that figure from, but it is pretty much twice as much as I calculate my wife and I would need to live comfortably in Japan

RetireJapan wrote: ↑Mon May 01, 2023 5:40 am 37,300GBP annually is an enormous amount of money. I have no idea where they got that figure from, but it is pretty much twice as much as I calculate my wife and I would need to live comfortably in Japan

This was my thought too. It is true however that inflation as rampant as it is in the U.K. at the moment is a serious game changer for retirees. An argument for making sure one gets as big a state pension as possible, since that (at least for now) goes up with inflation.

RetireJapan wrote: ↑Mon May 01, 2023 5:40 am 37,300GBP annually is an enormous amount of money. I have no idea where they got that figure from, but it is pretty much twice as much as I calculate my wife and I would need to live comfortably in Japan

https://www.retirementlivingstandards.org.uk/

Aside from questions such as. WTF are retirees doing to their kitchens? I think some of this is the British use of the term. If you know what I mean.
“I wouldn’t say we’re rich. But we’re comfortable.” (Whilst a maid refills their glass…)

Also, £54K pa as a couple but limited to £56 for a birthday day gift. I should try that one year. “Let me tell you about the day I almost died..”

Moneymatters wrote: ↑Mon May 01, 2023 8:34 am
Aside from questions such as. WTF are retirees doing to their kitchens?

British people in general seem to spend a lot of time and money on their homes. All of my relatives are always replacing something or decorating a room or spending cash on the garden.

Japanese, on the other hand, seem content to let houses get a bit more run-down. Perhaps because they usually don't do much entertaining at home?

beanhead wrote: ↑Mon May 01, 2023 2:53 pm

Moneymatters wrote: ↑Mon May 01, 2023 8:34 am
Aside from questions such as. WTF are retirees doing to their kitchens?

British people in general seem to spend a lot of time and money on their homes. All of my relatives are always replacing something or decorating a room or spending cash on the garden.

Japanese, on the other hand, seem content to let houses get a bit more run-down. Perhaps because they usually don't do much entertaining at home?

House prices, house prices, house prices- second most talked about thing in the UK apart from the weather. Hardly gets a mention in Japanese conversation.

Beaglehound wrote: ↑Mon May 01, 2023 6:07 am
This was my thought too. It is true however that inflation as rampant as it is in the U.K. at the moment is a serious game changer for retirees. An argument for making sure one gets as big a state pension as possible, since that (at least for now) goes up with inflation.

Agreed. And also, that retirees need some equity in their portfolio as well.
Annuities alone is not a great strategy, unless you get one which is inflation-linked.

(see captainspoke's post in the Milestone thread)

beanhead wrote: ↑Mon May 01, 2023 2:53 pm

Moneymatters wrote: ↑Mon May 01, 2023 8:34 am
Aside from questions such as. WTF are retirees doing to their kitchens?

British people in general seem to spend a lot of time and money on their homes. All of my relatives are always replacing something or decorating a room or spending cash on the garden.

Japanese, on the other hand, seem content to let houses get a bit more run-down. Perhaps because they usually don't do much entertaining at home?

Because they can't, in such small and cluttered houses!

beanhead wrote: ↑Mon May 01, 2023 2:53 pm

Moneymatters wrote: ↑Mon May 01, 2023 8:34 am
Aside from questions such as. WTF are retirees doing to their kitchens?

British people in general seem to spend a lot of time and money on their homes. All of my relatives are always replacing something or decorating a room or spending cash on the garden.

Japanese, on the other hand, seem content to let houses get a bit more run-down. Perhaps because they usually don't do much entertaining at home?

Or perhaps it is because they know the house will be demolished the moment they move out!!

From the Guardian

The retirement age will have to rise to 71 for middle-aged workers across the UK, according to research into the impact of growing life expectancy and falling birthrates on the state pension.

https://www.theguardian.com/money/2024/ ... ay-experts