What Do Retirees Actually Spend a Month In Retirement?

Do you know what £10 a day in retirement actually looks like?The average single retiree in the UK has roughly £300 left each month after paying for essentials. That's about £10 a day for everything that isn't council tax, energy, water, food, or transport. And with food inflation heading towards 9% by year end and low income pensioners spending nearly three times as much of their income on energy as higher earners, that £10 is shrinking fast.In this episode, I break down the real monthly budget of a single retired person with a paid off mortgage and show exactly where £1,222 a month goes. I explain why the State Pension is about to cross the Personal Allowance threshold for the first time, why over a million pensioners now pay the 40% tax rate, and why the widely quoted figure of £31,700 for a moderate retirement overstates what most single retirees actually spend by nearly £14,000.With over 25 years advising individuals and employers on pension and retirement strategies across PwC, EY, Aon, Willis Towers Watson, and KPMG, I've seen how the gap between expected and actual retirement spending catches people out every time.Watch this episode in full on our YouTube channel: https://www.youtube.com/@retirementandmoney