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Is my pensioner father wasting his savings away? Bring wise?

I understand this is my father and ultimately it's his choice and his money.

He went to India last year for three weeks and spent £3.5 k.

He is a full pensioner.

He gets the full government state pension, he has two private pensions, money from myself.

He has his mortgage paid off and would've have £40k in savings if he did not spend on the holiday and a new bathroom and kitchen.

He has around £31k in savings at 68.

He is planning to go India for three months and he will spend £8k.

I know he will get back £3.6k because the three months of government and private pensions will add up.

However going on expensive holidays every year is his idea.

For life he will get the full government pension and one private pension as the other one will run out in a few years.

He does need money for bills, wear and tear, stuff.

He does have a big ego, I'd like to say. He spent £5k just for show, show others.

From what I've written, do you believe going on expensive holidays every year, standing £4k a year on pension is a wise choice? He will need his savings for obvious emergencies.

Reply 1

Personally, if his pensions cover his basic living expenses, I would recommend he spends his saving on enjoyable holidays while he’s fit and well enough to enjoy them. A few thousand on an annual holiday is not a lot when you’ve worked all your life. Anyway he’s an adult and can manage his own finances

Reply 2

Original post
by Anonymous
I understand this is my father and ultimately it's his choice and his money.
He went to India last year for three weeks and spent £3.5 k.
He is a full pensioner.
He gets the full government state pension, he has two private pensions, money from myself.
He has his mortgage paid off and would've have £40k in savings if he did not spend on the holiday and a new bathroom and kitchen.
He has around £31k in savings at 68.
He is planning to go India for three months and he will spend £8k.
I know he will get back £3.6k because the three months of government and private pensions will add up.
However going on expensive holidays every year is his idea.
For life he will get the full government pension and one private pension as the other one will run out in a few years.
He does need money for bills, wear and tear, stuff.
He does have a big ego, I'd like to say. He spent £5k just for show, show others.
From what I've written, do you believe going on expensive holidays every year, standing £4k a year on pension is a wise choice? He will need his savings for obvious emergencies.

Good on him, may as well spend it and enjoy otherwise state will take it anyway.

Reply 3

Original post
by Anonymous
Good on him, may as well spend it and enjoy otherwise state will take it anyway.

Precisely 🙂

Reply 4

Original post
by Anonymous
I understand this is my father and ultimately it's his choice and his money.
He went to India last year for three weeks and spent £3.5 k.
He is a full pensioner.
He gets the full government state pension, he has two private pensions, money from myself.
He has his mortgage paid off and would've have £40k in savings if he did not spend on the holiday and a new bathroom and kitchen.
He has around £31k in savings at 68.
He is planning to go India for three months and he will spend £8k.
I know he will get back £3.6k because the three months of government and private pensions will add up.
However going on expensive holidays every year is his idea.
For life he will get the full government pension and one private pension as the other one will run out in a few years.
He does need money for bills, wear and tear, stuff.
He does have a big ego, I'd like to say. He spent £5k just for show, show others.
From what I've written, do you believe going on expensive holidays every year, standing £4k a year on pension is a wise choice? He will need his savings for obvious emergencies.

GO WITH HIM THEN and enjoy LIFE.

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