Age 60 want money for a holiday and to do some renovations

[Merowig]

Money tools - MABS

perhaps it is worth to have look at that and / or even have a chat with them
I track myself my expenses in a simple excel so that I have a sense of all my outgoings

They have even a meal planner [broken link removed]

 

[Gordon Gekko]

Money tools - MABS

perhaps it is worth to have look at that and / or even have a chat with them
I track myself my expenses in a simple excel so that I have a sense of all my outgoings

They have even a meal planner [broken link removed]

I think having a spreadsheet that sets-out your income and outgoings is a great idea. I do it myself and find it very helpful. I think it’s best to go granular and then you know where savings can be made.

It’s important to have fun and smell the roses though. Life isn’t about spreadsheets.

 

[Monbretia]

See my eyes glaze over when I hear excel/spreadsheet and I use the laptop every single day but I just don't like scrolling up/down/sideways/backwards trying to look at spreadsheets. Lot to be said for two sheets of paper, make list on one of expenses and income on the other, it can all be done with a pen and calculator, less intimidating maybe to some!

The MABS site as mentioned is very good, if you ring MABS they will send out a budgeting pack with spending diaries etc to fill, at least I presume they still do, could probably be printed off their site too. For a lot of people just doing it the old pen and paper way is easier.

 

[NotMyRealName]

Bren. You're all over the place. You need a face-to-face with a financial/lifestyle Trinny and Susannah. Get professional help. The opinions and advice here is sound ( from my experience) but you need the skill and unemotional discipline to put it all together. I'm a builder, take it from me...(shutdown aside) we're all busy. Good tradespeople don't want nixers any more.
Get someone to chart your course.....and follow it.
Otherwise you're just trading your house for magic beans. Even if the beanstalk grows, you've still gotta climb it, steal the gold and slay the giant..
The hardest thing to do will be to make a start. First, admit that you can't do everything in life yourself.....That evidence is writ large for you.
Everybody here means well and most of the advice is sound, but you might benefit more from one professional persons sound plan. Then you'll have to dispassionately implement it. Hopefully, the people on this forum have pointed you in that direction.
I hope it all works out for you.

 

[abc_xyz]

It is relatively easy to remove a tenant in the first six months.
I would go with someone working, non smoker , no pets, or perhaps an international student who is here for half a year/a year only.

A rented room in the owners house has a lot less rights/protections - they are not covered by the Residential Tenancies Board and notice is whatever is a agreed between the parties. Basically the renter is a paying guest.
Can't post link but see Citizen's information website - "Renting a room"

 

[Merowig]

A rented room in the owners house has a lot less rights/protections - they are not covered by the Residential Tenancies Board and notice is whatever is a agreed between the parties. Basically the renter is a paying guest.
Can't post link but see Citizen's information website - "Renting a room"

Thank you - forgot about that - so even better for BrenWW then to get rid of anyone who doesn't want to accept house rules.
One can agree on something like two or four weeks notice that should be enough to get anyone out who is unpleasant.

With 200 sqm and a lack of income I would definitely at least occasionally rent 1-2 rooms out - up to 14,000 Euro tax free rental income per year.
That could allow over time for major renovations and holidays.

 

[dino]

I have a friend who works in Dublin 4 days per week as a contractor. He rents a room off a retired couple for €450 per month. He's delighted with the setup. They have a TV room that he uses in the evenings and he is only there 4 nights per week. Works great for both.
The only issue is that it sounds like you'll need to sort out your heating situation first.

This whole thread highlights the huge issue in this country with older people getting stuck with big old inefficient houses. I've seen a number of large 60's and 70's houses come on the market recently that had very poor BER ratings and needed huge renovations. But I've also seen a lot of houses near me selling where people were moving to smaller houses in town and getting rid of bigger older houses outside town.
I think it would make a lot of sense to sell the house and move to a more manageable house in better condition. If you can't manage the current house in your 60's you'll really struggle in your 70's and 80's.

 

[PGF2016]

I think it would make a lot of sense to sell the house and move to a more manageable house in better condition. If you can't manage the current house in your 60's you'll really struggle in your 70's and 80's.

OP has indicated that a sentimental attachment is a reason for not selling. Personally I think you only live once and should not live in relative poverty while sitting on an asset that could be sold to provide a better life.

 

[shweeney]

the govt has suggested offering incentives for downsizing, and been slaughtered for it on the likes of Liveline for driving old people, many of whom have worked all there lives, grinding their fingers to the bones, fought and died for their country, out of their beloved homes (aka depriving their kids of their rightful inheritance).

 

[BrenWW]

I'm still here, just tied up with another more pressing situation.... Anyway, freezers / pantry (yes ) have enough food for... about 1 year, if I can persuade her to actually COOK the damn stuff (told her 'can't do anything until the stuff is used up, you want to throw €3k worth of food?? ' ) . Have been getting estimates on some of the jobs that need doing (along with some good advice) so that's ongoing. Building is like the car repairs I used to do, (sometimes a 'small' ding can bend a chassis out of shape, while a bigger bang is easily fixed with a s/h bumper,) likewise I asked a sparks about a rewire and he said "too much work involved, I'll check your wires and maybe a few extra sockets would do the job? " It's not all about milking the job and everyone has different opinions about what's needed (look at Bannon etc.)
Checking out the 'afterlife' too... What's the plan for the years ahead 'after' we've finished this....

 

[Merowig]

the govt has suggested offering incentives for downsizing, and been slaughtered for it on the likes of Liveline for driving old people, many of whom have worked all there lives, grinding their fingers to the bones, fought and died for their country, out of their beloved homes (aka depriving their kids of their rightful inheritance).

In my opinion rightly slaughtered - the elderly would compete with FTB for smaller houses unless one wants to push them into care homes/apartments. Also potentially moving away from their neighborhood, parish, support networks etc.
I would see any such incentive as a waste of taxpayers money and not solving the underlying problems of housing in Ireland.

Back to topic . Two weeks of food storage is recommended - I think ourselves we have here food for two - four weeks at least.
I know an American who have much more but he rotates the food and uses food up during camping trips.

Preparedness 101: How To Build A Two Week Emergency Pantry | Northwest Edible Life

nwedible.com

Sane preparedness is about reasonable steps to mitigate disasters – and after the first several weeks of a disaster, in most situations having an extra month of savings to draw from will be more useful than having an extra month’s worth of savings converted into pinto beans.

So, for sure, build up to that 2 week store of food in your pantry, and expand your food store if your time, inclination and finances allow, but before you attempt anything like 6 months or more of food storage, please ensure you are already in a strong financial position and have a savings buffer to draw from.

If you are into prepping then you should consume the oldest items first - First In, First Out Principle. I hope I am not too insensitive and it is difficult to "judge" over the internet but that here sounds more like hoarding/cluttering than preparedness and for that my suggestion would be to look for help / support - e.g. your GP might perhaps be able to do a referral.


Can you please come back to Brontes question and job

Question 5 - heating

How many electric heaters do you have in the house, can you tell us the brand names and types as in oil fired or blow heaters. Are they on all the time. And you have a gas cylindar as well. I suppose it's something like this

[broken link removed]

Job 3

I doubt this one will get you talking to a lovely Russian lady but you might have a nice chat all the same, firstly get out your PRSI number and then telephone :

Social Welfare Buncrana Donegal: 1890690 690
Ask them for:

1. Your PRSI record to be sent in the post to you
2. Have a chat about how many more years of PRSI you need to get the full state pension
3. Discuss any gaps in your prsi history and ask them to send you information on how you might be able to buy back prsi (this might be a different department so ask for the name of it and telephone no
3. Don't forget to mention to them your wife is a dependant, if she has any PRSI paid then ask the above for her too.

What kind of jobs did you got estimates for if I may ask?

 

[Thirsty]

..persuade her to actually COOK..

So why don't you cook?

 

[Bronte]

Sparks says the job is too big. How much is too big. Your house sounds like an electrical nightmare. I suppose the electric heaters are on extension leads and one extension led into another.

Putting in a few wires sounds just about the worst thing that can be done. Total chancer of a sharks I suspect, aided and abetted by Bren who hasn’t the money to do a right job.

House is probably a mega fire hazzard. Sad.

 

[BrenWW]

So why don't you cook?

Sparks says the job is too big. How much is too big. Your house sounds like an electrical nightmare. I suppose the electric heaters are on extension leads and one extension led into another.

Putting in a few wires sounds just about the worst thing that can be done. Total chancer of a sharks I suspect, aided and abetted by Bren who hasn’t the money to do a right job.

House is probably a mega fire hazzard. Sad.

My cooking would solve the problem, we'd both be dead... I've said no more buying for 6mths,except fresh veg, because we do have more than enough. Heaters. Glen 2000, Lidl fan heater. Glen just used as needed, Fan heater on thru the day. No oil etc.
Quotes for rewiring/windows-attic/building.... But just ballpark figures...("I'd have to see it first to give an accurate price")
Sparks said most proper rewiring is done during construction (chipping away at plaster etc I'd guess)

 

[Thirsty]

@BrenWW - you're an adult, you learned how to drive a car and use a computer or smart phone; but learning to cook safely is beyond you?

Reading your responses; all of which seem to me to be so negative and lacking in planning, I'm inclined to agree with an earlier poster and wonder if you are becoming depressed? Would you consider getting some professional advice in that area? In particular you shouldn't make major financial decisions until your thoughts are clearer; which, again based on your responses, they are not at present.

Edit to add: have you discussed any of this with your wife? If you are "telling" her what to cook or buy, I suspect not; but perhaps I'm wrong.

 

[shweeney]

In my opinion rightly slaughtered - the elderly would compete with FTB for smaller houses unless one wants to push them into care homes/apartments. Also potentially moving away from their neighborhood, parish, support networks etc.
I would see any such incentive as a waste of taxpayers money and not solving the underlying problems of housing in Ireland.

these things are interconnected. A lot of older people are living in big houses with lots of empty bedrooms - this is just driving up prices further down the market and forcing younger people with families to live further from town centres, spawning car dependency etc

Meanwhile there's no market for building the types of properties that downsizers might choose, serviced apartments and sheltered accommodation in particular. They shouldn't have to leave their neighbourhoods, there should be accommodation available suitable for older people close to amenities. This stuff doesn't get built because downsizing is financially challenging and there's no incentive to do it. There needs to be options in between "4 bedroom detached house" and "nursing home" (this is without even going into all the properties left vacant due to Fair Deal).

 

[Steiny]

So, just out of interest, does the OP himself have a plan of action? E.g.,

Find out current financial position... Value house, do spend diary, find a proper adviser...

One thing that struck me was that if OP was to spend anything on house, it would be best to sort out his radiators and boiler. Trying to heat a big house with electricity is very expensive and is what is making the elec bills so high. Money would be recooped fairly quickly if he intends to stay there and would make big difference to comfort and make sure your have 2 heating zones in house so you can heat living area independently. You will be in the house more in later years...

 

[Purple]

@BrenWW - you're an adult, you learned how to drive a car and use a computer or smart phone; but learning to cook safely is beyond you?

Yep, if you can read and tell the time you can cook. With YouTube you don't even need to know how to read...