Anyone live on £900 a month?

MaggieTulliver - I think you should get Estate Agent quotes for sale of the house as it is. You can also get the potential repairs assessed and quoted for along side this. I would also look at your option for the ideal home you have in mind that you believe will free you from the stress. This will help you see a clearer picture of your options going forward. You will get to that stress free point but you will need to go through things stage by stage. Ask your daughter, family or close friend to help you through this.

I wish you well through this process.

Perhaps you will discover your daughter would prefer a happy mother than a house that’s too big. Especially as it sounds as though she may be off soon.
She has her life to live, you have yours.

Maggie it is really lovely, the help that you get on here.
I know that there is a lot of moaning and groaning elsewhere on the site, but this sort of thing more than makes up for it.

Good advice there, Artaylar, re buying in missing NI years. Nobody should do it though, without checking first with the Future Pensions service, who will liaise with HMRC and eventually send you written confirmation of which years you can buy that will make a difference to your pension. I was going to pay to buy up three recent years that weren’t full - I’m so glad I checked first, as one of them would have made no difference to my final entitlement. And I was warned in no uncertain terms that if I overpaid, I wouldn’t get it back!

Also, if you look after grandchildren while under state pension age, please look into Specified Adult Childcare Credits, which can also boost your final pension.

Oh MaggieTulliver I feel for you here. Anxiety and MH issues make decision making very stressful.

I think communication is key here.

You seem loathe to put your house in the market because your daughter at uni loves, what it represents, the old family home.

I can understand that.

But your attachment to the place is, it seems, less strong. I’d discuss how you feel with your daughter. Explain your worries. That house will suck down your savings and you know it. But perhaps she isn’t aware of the situation.

I’d bet a pound to a penny she’d far rather have a happier, anxiety free mum than a house to return to between uni terms! Your memories (hers and yours) will go with you in your heart, wherever you live. Take photos of the place with objects and views that hold significance to you both and ‘do an Elsa’ here ... and let it go!

Great call Maggiemaybe on checking with the Future Pensions Service first before buying in any missing NI years. Its a minefield, that's for sure.

Urmstongran you are so right - I find decision-making so tortuous! I will discuss this with DD and not shy away from it because I’m worried about upsetting her. She does have her dad just living down the road anyway so will always have a base in town.

When I posted this morning I had no idea I’d get such a wonderful response from you all ?

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Good luck going forward MT whatever you decide. x

i think Suze is right about the National Insurance.
i read of a case like this recently, sorry can't remember names.
after all, how is the person covered for NI in the years until they receive state pension, when it will be credited to them.
so this is another reason to look into what benefits OP might get. if you get benefits, then NI contributions are credited to you. you could consult DWP as to what you could apply for.
if you belong to a trade union, consult their welfare office.
could you cut down your hours at work ?
your DD will be off soon, living her own life.
do what's best for you.
good luck.

Phoenixpalmsandsun, the initials mean darling husband/son etc.
and welcome !

MaggieTulliver, do bear in mind that you could always have a lodger, as your house is too big for you. It's easy extra tax-free income:

www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme

Go through all the stuff in your house and consider selling anything that no longer has any sentiment attached to it. That will generate a little bit extra. It all helps.

MaggieTulliver there's lots of helpful advice on here so I can't add much except to say that £900 per month if you own your own home is doable - it is just when large bills come in such as the ones you mention for your house and when expensive items like a washing machine need replacing or the car needs repairing. Once gone, savings are not so easily replaced in retirement.
I'm not sure when you get bus passes now as I got mine at 60 which can save money and, of course you won't have the expenses of going to work eg travel, clothes etc.

Could you reduce your hours to part-time to reduce your stress levels? Otherwise, I would definitely look at downsizing to a small modern property which is cheaper to maintain and heat etc if maintaining your property is a worry. However, moving can be expensive so you'd have to factor that in.

I've only met one person who regretted downsizing in retirement.

MaggieT Years ago I visited a friend's aunt with her and the elderly aunt was struggling along in a huge house (I mean huge!). It was lovely but she really wanted to sell and buy something manageable but said her children were horrified at the thought of her selling the 'family home' where they grew up and of which had such happy memories.
None lived there, they were in their 30s but just liked to come 'home' sometimes.

You have to do what is right for you. You will still have your memories wherever you live.

I am divorced - was married to a very successful professional. I never went out to work, because I had to answer the phones etc. Now, I don’t have a full state pension because I did not have enough NI contributions. He pays me a few hundred every month, which hasn’t changed with inflation. The only thing is - I have a house and quite a reasonable amount of savings. But my lifestyle has changed and my confidence knocked for six...but I’ll survive

I think an 8k reserve is more than adequate. I am not in a position to have anywhere near that amount. It can be very stressful having your own property and having repair and replacement jobs to do. I just get by and it will be like that until I get my state pension in June 23. I have been retired for more than 7 years and will be 64 in June. I have a Local Government pension of £900 per month. I am deemed to be too unwell to work and am in the support group for ESA. That is around £250 a month, stopping at 66. I have PIP standard rate care of £260 per calendar month. My money goes on getting more things done around my home. Shopping for birthdays and Christmas is expensive since there are 5 grandchildren and 7 adults to buy for. If your mental health is quite bad you maybe should consider a PIP claim. You can get support from citizens advice to complete the form. All illnesses and conditions you have can impact on how you are able to complete self care tasks. I hope it works out well for you. I absolutely could not do a paid job now - bipolar, possible MS etc It just would not work.

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Thistlelass, you shouldn't be struggling to buy presents for adults.
can't you announce that it's children only from now on.

Try getting PIPas it all helps Your doctor will have health records .Have you had any hospital appts .You can do it over the phone or they send the paperwork out .Then you have interview over the phone .You may have to have an assessment but they are not being done at present because of pandemic .If you get turned down try again I did and won

‘You are eligible for PIP if you are suffering with your Mental Health. Also PIP is not means tested eg you could be a millionaire and still receive it.’

This.

If you have a local disability advocacy service, it is worth asking for help to complete the PIP form to reflect the impact of your MH condition on your everyday functionality.

As Donna mentioned, PIP is not means tested, so your current pension income does not affect eligibility to claim.

Easily if I had £900 a month plus savings

welbeck

Thistlelass, you shouldn't be struggling to buy presents for adults.
can't you announce that it's children only from now on.

I agree.

Or just buy a family present for the adults eg a bottle of wine or box of chocolates for a couple or single adult and presents for under 18s.

Your health is the most important consideration!
Speaking from my experience, leaving work was the best possible choice above any monetary considerations. I was so stressed!
When I did my calculations it didn’t really look doable but I decided I couldn’t stay another year. It turned out that I could live perfectly comfortably for that year, and I’m sure you could manage for 2 years until that extra income kicks in.
I went through all my standing orders/direct debits/subscriptions etc and weeded out everything non essential.
After finishing work, my costs reduced or vanished - travel, work clothes, lunches, coffees, constant contributions to never ending workplace collections(!), numerous lunches out with work colleagues etc etc.
As others have said, I saved money on cooking/baking from scratch. Instead of buying new garden plants/planters etc, I took cuttings, repaired/recycled etc. I had more time to shop carefully which resulted in less waste.
In the end, I needn’t have worried - I sometimes felt better off!
I’ve stuck with many of the economies and have saved money to spend on things I really want to.
You can get a lot of satisfaction from managing, economising and being less wasteful.
Apart from all that, I felt so free after the pressures of a highly stressful job! Time to appreciate my garden, the birdsong, nature walks, the ever changing skies, a nicely baked cake, playing with my cat. The list was endless.
You can do this!

You sound very close content Cleo, thank you for your input.

I think it depends if your mortgage is paid off or not Maggie. I could easily live on it, if I had no mortgage. I don't have expensive tastes and live frugally. Given that it is a temporary situation, you could live very carefully, knowing that things will improve in a couple of years.

Yes, nannan2, I agree. Some commenters are out of touch with reality. Many in this country live on less, without enough to meet basic bills.

Yes, very happy!
I meant to add that there were lots of other little things I did that saved money, waste or simply made me feel better. I went through all my cosmetics/toiletries etc bought or gifted. I found items started but unfinished, unopened etc. Had enough for 2 years use easily without buying anything more! I went through my wardrobe, storage boxes, loft and sorted all my clothes out. Donated tons to charity shops, started re wearing some items, repurposed others. Found I lived in jeans, leggings and tunics with some summer dresses for hot weather. Didn’t need any new things for two years although I could have afforded some.
I also sorted out all my books, donating to charities or selling on eBay. I sold over 100! Now buy books from charity shops, then resell after reading or re donate.
Good luck, whatever your decision.