http://www.lshtm.ac.uk/news/2007/elderlyincome.htmlThis is a very interesting study that has just come out. It was done specifically for people over the age of 65, compiling research on what is required to have a healthy lifestyle. But the results really seem like they could apply to any adult age group - with only very slight tweaking for true lifestyle differences (like the working age adult's need to get to the office every day).
Bottom line? Exclusive of council tax and rent/mortgage payments,
each week you need £208 per couple or £131 per single person maintain a healthy and safe lifestyle. This works out to nearly £11k per year, and it
does not include council tax or rent. And it assumes that the over-65s in question are mobile and not disabled.
Things that were included were:
- food from a supermarket for a balanced diet of sufficient calories to allow a lifestyle at the recommended activity level (~2100/woman, 2400/man)
- allowances for psychological well-being (telephone, postage, small gifts, UK holiday costing about £354/couple/year, etc.)
- one exercise class at a council leisure centre/week, v. small allowance to maintain fitness kit for walking or swimming
- housing expenses (fuel, repairs, insurance, water/sewage)
- medical expenses (OTC medicines, glasses, dentist)
- transportation (mostly bus, occasional taxi or train)
- misc. hygiene and other expenses (inc. shoes/clothing, household items)
Reading the associated research article, I did not see much difference in what would be required as an over-65 and what I require (except that I would need more money in a few areas like transportation). Once you add on the cost of rent in a relatively safe area of your city and council tax, you're looking at quite a bit of money.
