Retirement

[moanjam]

On this subject you go on like SBC.
You're looking at it from the wrong angle. People aren't wishing their lives away at all, quite the opposite. It's not about actively wanting to be old & close to death, it's about being financially independent at the earliest opportunity to get out the rat race. And not being as fit as you were is the exact reason you should do it if you can.
You really must have so little going on in your life outside of work if you think you'll die of boredom. I reckon I've got several years worth of stuff to keep me busy that I currently just don't have the time as work gets in the way.

This is it for me

 

[ChrisK]

I know this is a thread about the financial side of retirement and what I’m about to say is slightly off topic.



You come across people on here who are only 30-40- early 50 etc and are chomping at the bit to retire. Why the hell would you wish your life away like that ? By the time your of retirement age your life won’t be as it is now. You’ll not be as fit, people very close to you have a good chance to have passed away and lastly for blokes like me it’s “THE END” so to speak and the Boredom will be a killer, especially in the winter. The sense of having very little purpose will be hard to deal with.


Yes if your cannon fodder who works in a factory or some midblowingly boring job I get it a little, however wishing you where closer to death just so you don’t have to work is pretty tragic.

Your 30’s, 40’s and early 50’s are the prime of your working life, if works that bad try and change what you do or grow up a bit and embrace it.

Quite the opposite for me tbh.
I have really enjoyed my job and the company I work for have been good, paid a fair wage and a great pension and have given me the option to take redundancy at 55, and my pension kicks in so will be sound, really looking forward to having free time in the summer in the UK and taking a winter sunshine holidays, while I still fit enough to enjoy travelling abroad.
Yes it will be a big change in my life having worked since 16 year old, i have known nothing else.

If work is your thing and your main interest that's great,I have a few mates who are self employed bit older than me and they just never seem to switch off but that's their choice and have no plan to stop work, they openly admit it's partly down to not having a adequate pension to support their current lifestyle.

So for me it's not wishing my life away, totally opposite its about enjoying the next stage of my life and making the most of the next 15 +years, until I hit the 70 ish mark if i lucky enough to make it that far. As no doubt probably need to slow down a bit then.

 

[Tuono]

People working all hours, scrimping and saving through the best years of their lives just so they can retire at 50 or 55. Apart from the bragging rights I don't see the point. If you really mean that then stop wasting your best years grafting all hours, get out there and memories. I know a couple of people who retired early and both are now fat and boring, but look at the size of their pension.

 

[SPUFF]

I know this is a thread about the financial side of retirement and what I’m about to say is slightly off topic.



You come across people on here who are only 30-40- early 50 etc and are chomping at the bit to retire. Why the hell would you wish your life away like that ? By the time your of retirement age your life won’t be as it is now. You’ll not be as fit, people very close to you have a good chance to have passed away and lastly for blokes like me it’s “THE END” so to speak and the Boredom will be a killer, especially in the winter. The sense of having very little purpose will be hard to deal with.


Yes if your cannon fodder who works in a factory or some midblowingly boring job I get it a little, however wishing you where closer to death just so you don’t have to work is pretty tragic.

Your 30’s, 40’s and early 50’s are the prime of your working life, if works that bad try and change what you do or grow up a bit and embrace it.

Im having an awful month work wise gilly.

I can think of dozens of things id rather be doing than current projects.

Worked 30 years. 17 year own business. Im purely in it to support my family and id shut it in a heartbeat presently if i could.

You may want to build more interests then your mindset might change (doubt it like ).

i love to be doing instead:
Golf.
Cycling (inc c2c)
Walks
Day at match.
Odd away trip
Play footy weekly.
Books.
Podscasts.
Holidays.
City breaks.
Visiting mates away.
Family time n helping them out.
Some diy, some i despise.
Snooker with dad n his owld mates occasionally.
Etc.

 

[Sunderland Til I Cry]

I know this is a thread about the financial side of retirement and what I’m about to say is slightly off topic.



You come across people on here who are only 30-40- early 50 etc and are chomping at the bit to retire. Why the hell would you wish your life away like that ? By the time your of retirement age your life won’t be as it is now. You’ll not be as fit, people very close to you have a good chance to have passed away and lastly for blokes like me it’s “THE END” so to speak and the Boredom will be a killer, especially in the winter. The sense of having very little purpose will be hard to deal with.


Yes if your cannon fodder who works in a factory or some midblowingly boring job I get it a little, however wishing you where closer to death just so you don’t have to work is pretty tragic.

Your 30’s, 40’s and early 50’s are the prime of your working life, if works that bad try and change what you do or grow up a bit and embrace it.

You seem to have a way of condemning people who don’t fit your picture of life Gilly, there’s no grey just black and white, no room for different just your way or nothing. Some people work to live, some live to work, as a friend once said to me “it’s not right it’s not wrong its just different” and we are all different. I’m pleased for anyone who works and enjoys it and doesn’t want to retire, fill yer boots i say, i don’t feel the need to dictate my take on it or call people names and categorise them because they are different.
Me and my Wife retired last year, i was 55 and she was 51, we both worked hard in our long careers, we now fill our lives with all sorts of fun stuff, primarily enjoying each others company and finding new things to try and places to explore, it’s amazing to be honest, living the dream for us. For you it might be purgatory, i get, accept and embrace that difference in people. I don’t need to grow up, we weren’t cannon fodder as you call it either, just different to you.
Why condemn people that live differently to you constantly, if we weren’t all different the world would be a dull place indeed. It would also be refreshing if you tried putting your opinion on here without the categorisation and name calling, just do as others do and tell us you’re opinion / view is different to ours, doesn’t have to be this is how life should be if not your a wrangun or any of the other labels you give people.
Oh and by the way i agree with and enjoy quite lot of your posts, just not the bits that have to destroy peoples way of life or choices on the back of it.

People working all hours, scrimping and saving through the best years of their lives just so they can retire at 50 or 55. Apart from the bragging rights I don't see the point. If you really mean that then stop wasting your best years grafting all hours, get out there and memories. I know a couple of people who retired early and both are now fat and boring, but look at the size of their pension.

That’s a huge generalisation Marra, me and my Wife didn’t work all hours, didn’t scrimp, had a marvellous time while working. We took the kids all over the world and we all have the best memories of our lives before retiring. You know a couple, so two people who are like that, that doesn’t equate to everyone or even the majority, just a couple that chose that way of doing things.

Quite the opposite for me tbh.
I have really enjoyed my job and the company I work for have been good, paid a fair wage and a great pension and have given me the option to take redundancy at 55, and my pension kicks in so will be sound, really looking forward to having free time in the summer in the UK and taking a winter sunshine holidays, while I still fit enough to enjoy travelling abroad.
Yes it will be a big change in my life having worked since 16 year old, i have known nothing else.

If work is your thing and your main interest that's great,I have a few mates who are self employed bit older than me and they just never seem to switch off but that's their choice and have no plan to stop work, they openly admit it's partly down to not having a adequate pension to support their current lifestyle.

So for me it's not wishing my life away, totally opposite its about enjoying the next stage of my life and making the most of the next 15 +years, until I hit the 70 ish mark if i lucky enough to make it that far. As no doubt probably need to slow down a bit then.

Go for it and enjoy, it’s not for everyone but what’s the worse that can happen? If you get bored or it just isn’t for you get some part time work or something. I‘m sure it wonkt come to that though .

 

[Deleted member 55162]

I know this is a thread about the financial side of retirement and what I’m about to say is slightly off topic.



You come across people on here who are only 30-40- early 50 etc and are chomping at the bit to retire. Why the hell would you wish your life away like that ? By the time your of retirement age your life won’t be as it is now. You’ll not be as fit, people very close to you have a good chance to have passed away and lastly for blokes like me it’s “THE END” so to speak and the Boredom will be a killer, especially in the winter. The sense of having very little purpose will be hard to deal with.


Yes if your cannon fodder who works in a factory or some midblowingly boring job I get it a little, however wishing you where closer to death just so you don’t have to work is pretty tragic.

Your 30’s, 40’s and early 50’s are the prime of your working life, if works that bad try and change what you do or grow up a bit and embrace it.

I’ve been in the pensions game for 20 years and the most tragic thing I’ve seen is the countless people who just fuck their retirement savings off because they think they don’t need a pension. Invariably this involves them working til 67 or even beyond because they can’t afford to live on the state pension alone. They end up downsizing properties or taking equity release just to have some extra coin.

They can do fuck all but have the odd night in the club and a weekend away at Haggerston Castle whilst their mates who saved into pensions are going on cruises and treating the grandkids. And this was all because they had the foresight to plan for retirement, save for retirement and then go out and enjoy it.

 

[CPLforever]

I’ve been in the pensions game for 20 years and the most tragic thing I’ve seen is the countless people who just fuck their retirement savings off because they think they don’t need a pension. Invariably this involves them working til 67 or even beyond because they can’t afford to live on the state pension alone. They end up downsizing properties or taking equity release just to have some extra coin.

They can do fuck all but have the odd night in the club and a weekend away at Haggerston Castle whilst their mates who saved into pensions are going on cruises and treating the grandkids. And this was all because they had the foresight to plan for retirement, save for retirement and then go out and enjoy it.

Yikes. There is certainly a reason your name is temple of doom. Maybe you should change the first word to harbinger.

Good advice tho.

 

[Deleted member 55162]

Yikes. There is certainly a reason your name is temple of doom. Maybe you should change the first word to harbinger.

Good advice tho.

 

[DaveH]

I know this is a thread about the financial side of retirement and what I’m about to say is slightly off topic.



You come across people on here who are only 30-40- early 50 etc and are chomping at the bit to retire. Why the hell would you wish your life away like that ? By the time your of retirement age your life won’t be as it is now. You’ll not be as fit, people very close to you have a good chance to have passed away and lastly for blokes like me it’s “THE END” so to speak and the Boredom will be a killer, especially in the winter. The sense of having very little purpose will be hard to deal with.


Yes if your cannon fodder who works in a factory or some midblowingly boring job I get it a little, however wishing you where closer to death just so you don’t have to work is pretty tragic.

Your 30’s, 40’s and early 50’s are the prime of your working life, if works that bad try and change what you do or grow up a bit and embrace it.

What do you mean by "wishing your life away"? Do you think wanting to retire is an all encompassing thought and we don't do anything else with our lives?

I want to retire because I'm doing so much other stuff and I want time for more.

You are completely correct, in 14 years I'll not have the energy I have now. Perhaps I'll only be doing 70% of the stuff I do now. So if I don't plan now, a huge chunk of that reduced energy is going to be going into work. I'm thinking why the hell would I want to get up every morning, meetings, keeping up to date with work stuff, responsibility and the stress that goes with that if I can have a decent income and do what I like stress free?

 

[stan]

On this subject you go on like SBC.
You're looking at it from the wrong angle. People aren't wishing their lives away at all, quite the opposite. It's not about actively wanting to be old & close to death, it's about being financially independent at the earliest opportunity to get out the rat race. And not being as fit as you were is the exact reason you should do it if you can.
You really must have so little going on in your life outside of work if you think you'll die of boredom. I reckon I've got several years worth of stuff to keep me busy that I currently just don't have the time as work gets in the way.

Is the correct answer!

 

[DaveH]

People working all hours, scrimping and saving through the best years of their lives just so they can retire at 50 or 55. Apart from the bragging rights I don't see the point. If you really mean that then stop wasting your best years grafting all hours, get out there and memories. I know a couple of people who retired early and both are now fat and boring, but look at the size of their pension.

What if you are hitting a balance of having plenty of fun now but not going daft to make sure you can pay off the mortgage and retire at say 60?

 

[stan]

I'm leaving the forces after nearly 30 years early next year and could probably afford to go part time or even retire with a few cutbacks. I'll be 50 next year so I intend to find a job for the next 6-7 years until the mortgage is paid off so I can still enjoy myself, but once the mortgage is gone me and my wife are retiring to enjoy life as far too many of my friends and family have died over recent years. The plan is to sell up and move abroad to enjoy the next 20-30 years in the sun, kids, grandkids and family visiting and keeping us busy. Life is short

 

[GordonMuchallNo1Fan]

55yr old and that will be my lot so another 14 years just about, already considering dropping hours at work. Not a chance I'm working until I'm almost 70, that's no life

 

[ChrisK]

I’ve been in the pensions game for 20 years and the most tragic thing I’ve seen is the countless people who just fuck their retirement savings off because they think they don’t need a pension. Invariably this involves them working til 67 or even beyond because they can’t afford to live on the state pension alone. They end up downsizing properties or taking equity release just to have some extra coin.

They can do fuck all but have the odd night in the club and a weekend away at Haggerston Castle whilst their mates who saved into pensions are going on cruises and treating the grandkids. And this was all because they had the foresight to plan for retirement, save for retirement and then go out and enjoy it.

Nail on head

You seem to have a way of condemning people who don’t fit your picture of life Gilly, there’s no grey just black and white, no room for different just your way or nothing. Some people work to live, some live to work, as a friend once said to me “it’s not right it’s not wrong its just different” and we are all different. I’m pleased for anyone who works and enjoys it and doesn’t want to retire, fill yer boots i say, i don’t feel the need to dictate my take on it or call people names and categorise them because they are different.
Me and my Wife retired last year, i was 55 and she was 51, we both worked hard in our long careers, we now fill our lives with all sorts of fun stuff, primarily enjoying each others company and finding new things to try and places to explore, it’s amazing to be honest, living the dream for us. For you it might be purgatory, i get, accept and embrace that difference in people. I don’t need to grow up, we weren’t cannon fodder as you call it either, just different to you.
Why condemn people that live differently to you constantly, if we weren’t all different the world would be a dull place indeed. It would also be refreshing if you tried putting your opinion on here without the categorisation and name calling, just do as others do and tell us you’re opinion / view is different to ours, doesn’t have to be this is how life should be if not your a wrangun or any of the other labels you give people.
Oh and by the way i agree with and enjoy quite lot of your posts, just not the bits that have to destroy peoples way of life or choices on the back of it.

That’s a huge generalisation Marra, me and my Wife didn’t work all hours, didn’t scrimp, had a marvellous time while working. We took the kids all over the world and we all have the best memories of our lives before retiring. You know a couple, so two people who are like that, that doesn’t equate to everyone or even the majority, just a couple that chose that way of doing things.

Go for it and enjoy, it’s not for everyone but what’s the worse that can happen? If you get bored or it just isn’t for you get some part time work or something. I‘m sure it wonkt come to that though .

Been on gardening leave since April and due to be finished end of year and loved it, will have no trouble filling my day in

 

[Swindon On Tour]

A thread that I find really useful.

Help !! - Those that took the plunge to retire was it an easy decision or difficult?
Right now going through the emotions.
I guess the big question - Do you ever feel you have enough to Retire?
Had a few meetings with a Pension advisor, been helpful and having a detailed meeting at the end of the month. His words, “you are in a good position” but bloody hell it’s doing my head in.

Plenty of positives:
No Mortgage - Decent home, we could always downsize.
Been saving in pensions since 16, no gaps and 60 this December.

Awareness:
Lost a few Mates recently, some have health challenges, hate me job and only carrying on because of the money.
I am so bloody structured hence why this is tough as I like a plan
Always plenty of things to do. Still want to follow the shite football team.
Can‘t take it with you.
Mrs (no) is still going to have to work a few more years.

Decisions:
One lad about to go to Uni, the other in 6th form. Would love to help them more but if I carry on with this shit and stress then know it’s taking its toll.
Could always get a smaller stress free job.

Please not a look at me post but genuinely at a massive crossroads thus all advice welcome. Was it as difficult for you or a case of bollocks and jump?
Thinking about it everyday. My heart wants out, my head bloody cautious.

 

[SPUFF]

A thread that I find really useful.

Help !! - Those that took the plunge to retire was it an easy decision or difficult?
Right now going through the emotions.
I guess the big question - Do you ever feel you have enough to Retire?
Had a few meetings with a Pension advisor, been helpful and having a detailed meeting at the end of the month. His words, “you are in a good position” but bloody hell it’s doing my head in.

Plenty of positives:
No Mortgage - Decent home, we could always downsize.
Been saving in pensions since 16, no gaps and 60 this December.

Awareness:
Lost a few Mates recently, some have health challenges, hate me job and only carrying on because of the money.
I am so bloody structured hence why this is tough as I like a plan
Always plenty of things to do. Still want to follow the shite football team.
Can‘t take it with you.
Mrs (no) is still going to have to work a few more years.

Decisions:
One lad about to go to Uni, the other in 6th form. Would love to help them more but if I carry on with this shit and stress then know it’s taking its toll.
Could always get a smaller stress free job.

Please not a look at me post but genuinely at a massive crossroads thus all advice welcome. Was it as difficult for you or a case of bollocks and jump?
Thinking about it everyday. My heart wants out, my head bloody cautious.

On the finances issue I guess nobodys cutting your arms n legs off mate. Its a little like starting your own firms risks.

Think youre a bit short cashwise or get bored get a part time number.

 

[DaveH]

A thread that I find really useful.

Help !! - Those that took the plunge to retire was it an easy decision or difficult?
Right now going through the emotions.
I guess the big question - Do you ever feel you have enough to Retire?
Had a few meetings with a Pension advisor, been helpful and having a detailed meeting at the end of the month. His words, “you are in a good position” but bloody hell it’s doing my head in.

Plenty of positives:
No Mortgage - Decent home, we could always downsize.
Been saving in pensions since 16, no gaps and 60 this December.

Awareness:
Lost a few Mates recently, some have health challenges, hate me job and only carrying on because of the money.
I am so bloody structured hence why this is tough as I like a plan
Always plenty of things to do. Still want to follow the shite football team.
Can‘t take it with you.
Mrs (no) is still going to have to work a few more years.

Decisions:
One lad about to go to Uni, the other in 6th form. Would love to help them more but if I carry on with this shit and stress then know it’s taking its toll.
Could always get a smaller stress free job.

Please not a look at me post but genuinely at a massive crossroads thus all advice welcome. Was it as difficult for you or a case of bollocks and jump?
Thinking about it everyday. My heart wants out, my head bloody cautious.

I'm not speaking from experience, but as someone who is looking ahead at retiring in a good few years. Everything I say below might be a load of shit in the context of someone making an imminent decision.

The first question is, can you afford it? Have a look at your income now and look at what your income would be with a pension. If you are about to turn 60, remember that you will also get a state pension in another 6 or 7 years to boost your income. So if your monthly pension income is not enough, could your lump sum or any other savings or investments cover the gap?

Sitting down with a financial advisor is probably the best thing, but the other that I would do before seeing a pro, is just sit down with a notepad or a spreadsheet and work out what your household income is now and what it will be if you retired. Looking at the gap between the two and where your cash currently goes will be one of the main things an advisor does.

The second question is, are you mentally prepared for it? I've seen a few people retire and been so busy they can't remember how they ever found time for work. A few people who left my old place came back for a few drinks after just a year and looked so healthy, chilled and happy, but said they were busy. I've seen other people lost and literally just sit in the chair each day not knowing what to do with themselves. Would you have enough social contacts? Have you got any social groups? Have you got hobbies or projects you want to have more time to follow? If the answer to those three questions is 'no' that is a big alarm for me.

Often if you take your pension before normal retirement age, there is a penalty. A part-time stress free job might allow you to hold off drawing your pension, increasing your income when you do take it and with the other half of your time, build up your life outside of work and ease yourself into it. Early penalty on pension vs waiting is a difficult one to decide. Take it early for less each year but for more years, and you could get more out of it. But you might also get more by waiting a couple of years and taking more out each year for a shorter period. It depends on how long you plan on living for (until Swindon win the cup?).

Seriously thinking of bailing out this December, still scary mind.

Quick addition: Retire just before Christmas sounds nice, but if you retire the 2nd week in January, how many extra days would you work vs days you would actually be paid for? My place has a paid shutdown for Christmas so if I were retiring about Christmas, I'd be looking at going back for a week. Have 2 weeks off, have a chilled out week and by the end of it people will have shook of New Year and be up for a retirement bash.

 

[Joe Baker]

A thread that I find really useful.

Help !! - Those that took the plunge to retire was it an easy decision or difficult?
Right now going through the emotions.
I guess the big question - Do you ever feel you have enough to Retire?
Had a few meetings with a Pension advisor, been helpful and having a detailed meeting at the end of the month. His words, “you are in a good position” but bloody hell it’s doing my head in.

I retired from full time work when I was just over 60 and went away for a couple of months.
When I got back, people said I looked 10 years younger , but I felt very much lost without that full time commitment.
An easier part time job came up (3 days a week) and I did that on a self employed basis for 5 years before finally finishing.
I was able to take regular breaks - 3 or 4 times a year - to random places I'd always wanted to see and wind down gradually whilst still being paid.

That's what I would say you need to consider, if it's realistic/appealing for you, but each person is different so there are no "right" answers......

......except no, I've never felt I had enough to retire, even though my pension feller tells me I'm in a good position as well

 

[Swindon On Tour]

I retired from full time work when I was just over 60 and went away for a couple of months.
When I got back, people said I looked 10 years younger , but I felt very much lost without that full time commitment.
An easier part time job came up (3 days a week) and I did that on a self employed basis for 5 years before finally finishing.
I was able to take regular breaks - 3 or 4 times a year - to random places I'd always wanted to see and wind down gradually whilst still being paid.

That's what I would say you need to consider, if it's realistic/appealing for you, but each person is different so there are no "right" answers......

......except no, I've never felt I had enough to retire, even though my pension feller tells me I'm in a good position as well

Decent advice from everyone.
Keep thinking about Gardening, Ffs my own Garden though is enough

I reckon I would take a few months off first as have a few house projects to do. Then would be ready in the mind to consider a part time job. That would be completely different to what I would be leaving behind though mate.

 

[DaveI]

I guess the big question - Do you ever feel you have enough to Retire?

I read an e-book “How much money do you need for the rest of your life?” by Paul Armson. Helped me get a bit more clarity.

It was a free download - I presume it’s still out there somewhere.

Some people will never feel comfortable that they have enough. My folks are still putting into their savings at the age of 74 and 71 - they should be spending it, not adding to the pile.