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Retirement

Tuono said:
Money partly. I have ISA's, a small private pension and the State Pension but if I retired now I'd have to be careful I didn't overspend. While I'm fit and healthy and enjoying working on some jobs I think why retire, but then I get on a shit job and I think what the fuck am I doing still working. I can take off as much time as I want and this year have probably worked on average 3 days a week which suits me. The plan is to sell my house and move back to Sunderland in the future, maybe spend some time doing the house up before I sell it. What I do know though is the shit jobs are starting to outnumber the good jobs, that's why I was thinking of pulling the plug in April.
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I was terrified of giving up the monthly wage which kept coming in regardless, but we have found it ok a few adjustments here and there and we still get holidays days out etc.
downsized and now going for it big style 😂 because come the 70’s god knows 👍 good luck
 

I'm Spartacus said:
Tell that to my knees and back :lol:
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It definitely took me time to adjust. You can go from loads of people and interaction to a very quiet life in a short period of time.
I live in a fairly remote place and most of my mates my age are living away from here and where I grew up. The mates around here are generally older than me.
Notwithstanding I have plenty of interests and enjoy my fishing and of course football.
I landed the perfect part time job of a fishing bailiff on a prestigious busy water.
4 days on and 4 days off. Get paid commission for tickets, free fishing, close by and a right laugh.
Remember though you have to retire some time. I absolutely hated my job at the end thus it was an easy decision. No more stress or pressure. The first time for many years I sleep properly.👍

Do right what’s for you mate.
 
I'm Spartacus said:
Been retired a couple of months. I hate it, bored senseless. just applied for a full time job.
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Never mind , deed soon 😬
If you can't find stuff to do other than work you're in bother like .
Had a catch up with my mate today. Walked from the Marina to Whitburn and back.Sun belting Stopping for a coffee . Sorted my garage this affa then a little nap .Head clear ,no stress ,no drama . Class .
 
You’re right that it’s hard to call exactly when. I’ve been on the glide path down for four years now (I won’t give my age but I was mid fifties) working on average 3 days a week gig/consultancy/board roles. Earned enough to cover the lifestyle and continue saving a little and have loved the time gained. I’ve hummed and ha’d about when to stop altogether. I made a big call today: told my IFA I want to call it complete quits in 18 months.

TBH the universe is beginning to tell me it’s time. It’s harder to get things I apply for and one of my biggest money earners this year has been to train some folk in their forties to deliver some training I do. It’s the right thing for the organisation to do but by the end of the year they’ll all be on stream. Plus last week the council told me that after four years waiting I’ve finally got an allotment :lol:
 
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I'm Spartacus said:
I like hiking and camping but not by myself, everyone I do stuff with is a long way off retirement. To be honest I loved the last roll I was in and if I get the job I put in for I’ll be like a pig in shit and on decent money. I’m only 53 so really don’t feel ready to throw the towel in just yet. I reckon another 7 years and I’ll be able to save enough for a decent proper retirement.
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Its not throwing the towel in its sticking it on sun lounger
 
JAZZMANB said:
Never mind , deed soon 😬
If you can't find stuff to do other than work you're in bother like .
Had a catch up with my mate today. Walked from the Marina to Whitburn and back.Sun belting Stopping for a coffee . Sorted my garage this affa then a little nap .Head clear ,no stress ,no drama . Class .
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Funny enough I was down the beach this afternoon with the dog and I seen 2-3 pairs of older blokes out for a walk with their mate popular pastime
 
So after cocking up taking money out of ISA wrapper I’ve doubled down by potentially paying more than my annual salary into my SIPP I think about £15k over by end of FY- they’re in the process of adding the 25% uplift which I’ll be to pay back - I’ll also need to do a self assessment to get a portion of additional relief for 40% tax , question is will they just net this all off and adjust next years tax code to recover ?

Vanguard have given me option to back out the transfer but as ISA allowance used and SIPP performing well I’d be happy to have the extra in regardless of no tax uplift
 
Nookie Bear said:
So after cocking up taking money out of ISA wrapper I’ve doubled down by potentially paying more than my annual salary into my SIPP I think about £15k over by end of FY- they’re in the process of adding the 25% uplift which I’ll be to pay back - I’ll also need to do a self assessment to get a portion of additional relief for 40% tax , question is will they just net this all off and adjust next years tax code to recover ?

Vanguard have given me option to back out the transfer but as ISA allowance used and SIPP performing well I’d be happy to have the extra in regardless of no tax uplift
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Did you use last year’s allowance, think you can carry it back a year?
 
BILLY BUS PASS said:
Funny enough I was down the beach this afternoon with the dog and I seen 2-3 pairs of older blokes out for a walk with their mate popular pastime
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Indeed ,topics covered , sleep patterns ,anxiety ,Wet legs career change, Welsh byways, lasses from school looking old , coffee lasses backside , flys , original death Wall.New good music And much more ..
 
Pantomime Mackem said:
You’re right that it’s hard to call exactly when. I’ve been on the glide path down for four years now (I won’t give my age but I was mid fifties) working on average 3 days a week gig/consultancy/board roles. Earned enough to cover the lifestyle and continue saving a little and have loved the time gained. I’ve hummed and ha’d about when to stop altogether. I made a big call today: told my IFA I want to call it complete quits in 18 months.

TBH the universe is beginning to tell me it’s time. It’s harder to get things I apply for and one of my biggest money earners this year has been to train some folk in their forties to deliver some training I do. It’s the right thing for the organisation to do but by the end of the year they’ll all be on stream. Plus last week the council told me that after four years waiting I’ve finally got an allotment :lol:
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Allotment will be a lot harder than graft but much more rewarding 👍
 
Nookie Bear said:
Only up to your earnings in current year so for me it’s just an extra 3/4k which I’ve included in the £15k calculation - I’ve transferred in the full ISA amount as was just sat doing nowt
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Wow I was so stressed about all this pension, isa,sipp and shares stuff it was scary got a ifa and within an hour it was simplified, probably the most important decision I made in retirement you need professional advice and the cost is irrelevant as the moneys invested well pays for there service 👍
 
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