From: Gordon 
Newsgroups: uk.finance
Subject: Re: Warning on state pension payments
Date: Sat, 2 Sep 2006 01:43:22 +0100

GSV Three Minds in a Can  wrote
>Bitstring <0WoMruCJjG+EFwc6@g3snx.demon.co.uk>, from the
very average person
>  Gordon  said
>>
>>For retirement at 65, much discussion amongst colleagues of a 
>>practical disposition produced a consensus that you need 50% of your 
>>*gross* salary as disposable retirement income.     This assumes a 
>>modest life style, not including motor yachts etc.....
>
>It also assumes you were actually spending your net salary (or 'more or 
>less'). Some of us were sticking away 50% or more of our salary, and 
>we're delighted to retire on about 25% of our previous gross (and still 
>not spending it all).
>
I forgot that bit!   We did save up a 5 figure amount after a narrow 
escape from redundancy in 1981, which helped, but we also got some good 
holidays abroad in before I retired.

>Of course the -seriously- rich pensioners wouldn't dream of spending 
>their interest, only the interest on their interest......
>
The rate at which I can afford to allow capital to disappear before I 
snuff it is more my focus.   :)
-- 
Gordon Harris