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Retirement

Joe Baker said:
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 :lol:, 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 :rolleyes:
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I'm in senior management now and I am enjoying that career path, with an eye ahead to my next move.

But, I'm busy. I wrote a quick list of things to get done yesterday and I'm half way through it. I have people contacting me all day this week about 7 or 8 different issues and I'm keeping them all in my head as to where I'm at with each. It is mentally draining.

I don't think I'll be able to retire at 60, but dropping back to being a engineer level part time for 2 years at 58 sounds tempting to me. It will likely be enough income that I can hold off drawing my pension. I'll not be putting as much in the pot and not have any spare to invest, just enough to sustain with a couple of holidays, and then wave my goodbyes.
 

Gillythedilf said:
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.
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I would imagine that most people spend the majority of their day commuting to work and then actually doing the work.

That alone is an incentive to pack it early if you can.

Choosing to do what you want to do every day rather than what you have to do, isn't 'wishing your life away'.
 
DaveI said:
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.
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I agree on the spending part but most people get to a certain age and go into inheritance mode. It’s more important for them to be able to pass their wealth on then spend it when their health, motivation or well being isn’t perhaps as it once was. Some people feel that would be wasteful and would prefer others to benefit.
 
Me and my wife retired a few weeks after our 55th birthday in December ( we are 61 now), we wanted a normal Christmas like most people seem to get, I had always worked jobs where you worked much or all of Christmas. Our 3 combined pensions are only about a grand a month, but we do have considerable savings to draw from.

We live fairly well, walk our dogs which were a retirement present to ourselves, I make all our wine and most of our bread, got loads of hobbies that keep me busy, as does my wife. We can help out with the grandkids anytime we are needed.

Love it, happiest time of my life.

Single car family now which saves a fortune.

I only go out for a drink 2 or 3 times a year, used to be that a day.

Our retirement won't be cruises or jetting off, at least until our state pension kicks in.

We are beholden to no man or company, our time is our own. Nearly 7 years of retirement already, I have a good mate who died at 59, no retirement at all.

I know someone who refused to join the NHS pension ( back when it was fantastic), the money she saved was spent on weekends away with her mates, Blackpool and Benidorm mainly.

She is looking at working and extra 12 years while the rest of us live it up.
 
42 said:
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.
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You failed to read my opening paragraph and take it in.
SPUFF said:
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.
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It’ll come good mate we all have that at times , however imagine being retired and unable to work after years of being a somebody your a burden
Sunderland Til I Cry said:
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 😀.
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You sound like our lass
Temple of Doom said:
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.
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I’ll be working to that age in some capacity. Because I’ll want to more than likely .
 
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Swindon On Tour said:
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.
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Been thru it all aswell mate pluses and minuses, lists, spreadsheets the lot.
This year i been too 5 funerals of people all under 70 couple of them had only retired at 66
My decision was made easier due to the redundancy offer it really is time to go for me.
DaveI said:
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.
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Definitely saving is over its time to spend and enjoy, my kids will be left with a lot more than i will.
 
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ChrisK said:
Been thru it all aswell mate pluses and minuses, lists, spreadsheets the lot.
This year i been too 5 funerals of people all under 70 couple of them had only retired at 66
My decision was made easier due to the redundancy offer it really is time to go for me.
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Appreciated Mate, my mind is telling me now.
Was made redundant last year as well. Just feel it’s time, just a tad scared as worked all my life since 16 but not enjoying it now.
Funerals and illnesses with people I know have made made think this as well. At present I find work is stressful and questioning why I need to put myself through it.

You enjoy it my friend 👍
 
Temple of Doom said:
I agree on the spending part but most people get to a certain age and go into inheritance mode. It’s more important for them to be able to pass their wealth on then spend it when their health, motivation or well being isn’t perhaps as it once was. Some people feel that would be wasteful and would prefer others to benefit.
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Good point, aye.

My in laws have named their grandkids as beneficiaries for their pensions when they go, rather than each other - and the birthday cheques are getting bigger, on the proviso it’s saved/invested rather than wasted on plastic crap.
 
Gillythedilf said:
You failed to read my opening paragraph and take it in.

It’ll come good mate we all have that at times , however imagine being retired and unable to work after years of being a somebody your a burden

You sound like our lass

I’ll be working to that age in some capacity. Because I’ll want to more than likely .
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Thanks, I’ll take that as a compliment, some of the strongest influences (decency, honesty, integrity, strength of character) in my life have been Women, i would be proud and humbled to be compared to any of them.
Swindon On Tour said:
Appreciated Mate, my mind is telling me now.
Was made redundant last year as well. Just feel it’s time, just a tad scared as worked all my life since 16 but not enjoying it now.
Funerals and illnesses with people I know have made made think this as well. At present I find work is stressful and questioning why I need to put myself through it.

You enjoy it my friend 👍
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If you can do it SOT, sounds like you would have plenty to fill your time, as long as the financial side is ok you’ll love it.
 
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Gillythedilf said:
You failed to read my opening paragraph and take it in.

It’ll come good mate we all have that at times , however imagine being retired and unable to work after years of being a somebody your a burden

You sound like our lass

I’ll be working to that age in some capacity. Because I’ll want to more than likely .
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Thanks gilly.

Certainly not the easy money/glamour many predume at times!
 
Gillythedilf said:
You failed to read my opening paragraph and take it in.

It’ll come good mate we all have that at times , however imagine being retired and unable to work after years of being a somebody your a burden

You sound like our lass

I’ll be working to that age in some capacity. Because I’ll want to more than likely .
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Go on then, expand.
 
Swindon On Tour said:
Appreciated Mate, my mind is telling me now.
Was made redundant last year as well. Just feel it’s time, just a tad scared as worked all my life since 16 but not enjoying it now.
Funerals and illnesses with people I know have made made think this as well. At present I find work is stressful and questioning why I need to put myself through it.

You enjoy it my friend 👍
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Jack it in and have fun man.

I’m talking to myself as much as you here, for what it’s worth.
 
I’m a month into redundancy and already can’t understand how I fit work in. I’m not missing work at all. Granted it’s probably just the buzz of not having a job to go to. Im definitely going to enjoy the next few months though until I find a new job …. I’m already worried though my motivation to find work isn’t stronger than the enjoyment I’m having by not working 🤣🤣
 
42 said:
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.
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Exactly, but you won’t change his view on it.

If I’m working past 60 I’ll be gutted. Not wishing life away just have things I’d rather do than work at that age. Getting the balance of doings things now and building a pension pot works for me.
 
Gillythedilf said:
I’m sitting now replying to messages.


I enjoy the adrenaline rush/ worry and seeing clients and lads happy most of the time if I’m honest.
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I loved that life too, once upon a time. Lived on adrenaline, the bigger the job, the more technically demanding the contract, the greater the buzz. Then l took on a site where we were doing around 16 mill build a month. That's not a mis-spelling. 3 years of it , completion and afterwards l was completely burnt out , had a heart attack, and retired soon afterwards. The best decision ever. The absence of all that stress, the time to take a leisurely breakfast, to take a long walk with the dogs is priceless. l honestly believe it's extended my life expectancy by at least the ten years since and hopefully more. Pressure, stress and the resultant adrenaline buzz are so seductive, probably clinically addictive. We are miles apart in our thinking, but perhaps you aren't actually immortal. Good to let go if an opportunity presents itself can I suggest.
 
HerdnMulhall said:
I loved that life too, once upon a time. Lived on adrenaline, the bigger the job, the more technically demanding the contract, the greater the buzz. Then l took on a site where we were doing around 16 mill build a month. That's not a mis-spelling. 3 years of it , completion and afterwards l was completely burnt out , had a heart attack, and retired soon afterwards. The best decision ever. The absence of all that stress, the time to take a leisurely breakfast, to take a long walk with the dogs is priceless. l honestly believe it's extended my life expectancy by at least the ten years since and hopefully more. Pressure, stress and the resultant adrenaline buzz are so seductive, probably clinically addictive. We are miles apart in our thinking, but perhaps you aren't actually immortal. Good to let go if an opportunity presents itself can I suggest.
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Some great experiences on here we could all learn from.
 
42 said:
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.
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Bang on mate. 👍
Imagine going to work being the best thing you can think of doing tomorrow.
 
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