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The Retirement Thread

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GimmeMedals Aug 2024 7:02pm, 13 Aug 2024 27,440 posts	0 GimmeMedals We had planned to keep our car until it fell apart - it was 9 years old when I retired in 2020 and was a good reliable Volvo. Last year, someone wrote it off so we had to dip into our savings to replace it with a 4 year old SUV. We plan to keep this one until it falls apart, but keep adding our savings just in case that comes around sooner than we expect.
XB Aug 2024 7:08pm, 13 Aug 2024 18,240 posts	0 XB I save £300/month in a separate pot for car replacement.
Velociraptor Aug 2024 7:09pm, 13 Aug 2024 70,363 posts	0 Velociraptor We did some rough calculations and came down on the side of, "You can do a lot of cottage rentals and Airbnbs for the same cost," even without assigning a numerical value to my preference for bricks and mortar. We're safety-netted for car replacement when the time comes. It's in the same pot as replacement windows and replacement hip joints.
ThorntonRunner Aug 2024 7:42pm, 13 Aug 2024 7,624 posts	0 ThorntonRunner We got our first and only new car when I retired a couple of years ago. Intend keeping it at least ten years and am budgeting £1000/ year towards a replacement- money that would come from drawdown. However, I'll be 72 at that point so will decide then whether to keep it longer as my final car, or change it. Who knows where we might be with autonomous cars and different ownership/use models by then.
Rosehip Aug 2024 8:06pm, 13 Aug 2024 32,886 posts	0 Rosehip I did the same calculation as V'rap, came to the same answer and then remembered how much I hate cleaning rentals before handing them back (and sometimes before settling in) and having done it for the last 30 years decided it wasn't a fair comparison. There is a chunk of my 25% ringfenced for car/knees/roof, but I've never had a brand new car and don't intend to start now.
Fenners-Reborn Aug 2024 8:55pm, 13 Aug 2024 1,264 posts	0 Fenners-Reborn LOL, I've only had brand new cars since 1987
Fenners-Reborn Aug 2024 8:56pm, 13 Aug 2024 1,265 posts	0 Fenners-Reborn But a significant number were company cars.
Lip Gloss Aug 2024 9:28pm, 13 Aug 2024 77,044 posts	0 Lip Gloss I bought a brand new car 2 years ago so will keep for as long as needed.
TROSaracen Aug 2024 9:35pm, 13 Aug 2024 28,231 posts	0 TROSaracen We’ve both got new cars (well mine’s a van) so the theory is we’re future proofed for 10 years. The in case of emergency pull cord option will be to sell one. Discussing and researching swapping one for a motorhome in 2-4 years when this triathlon thing ends.
geordiegirl Aug 2024 9:45pm, 13 Aug 2024 23,780 posts	0 geordiegirl Replacing a vehicle is a good point to consider as it is a large expense. We currently have OH’s BMW estate about 5yrs old My MERC which is 9yrs old And I’ve just bought a camper (conversion) as I have wild ideas of travelling Europe when we escape work and justified buying noe as I will get a lot of use out of it for running events and also winter weekends away. We also have a boat. Love the van and for what driving I do I’m thinking selling my car to restock savings and I’ll use it for most of what I need and OH car otherwise. Now plan is when we escape we’ll have to spend more than a week meandering along the Great Ouse and taking the camper to the boat allows us some travelling inbetween sailing trips. We’ll then sell boat and camper and buy a bigger van for Europe travels which will then eventually be sold and money banked for a future car. It’s like a jigsaw puzzle.

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