Retirement - what age you going



Slatz63 said:
WHICH have done some figures and reckon £23k before tax gives a comfortable retirement. £30k before tax gives a luxurious retirement. These figures are for a couple. Luxurious includes 2 foreign holidays a year and a new car every 3.
Being retired can be a lot cheaper than you think.
My gold plated final salary pension was destroyed by divorce. Looking to finish in about 3 yeats at 58. Currently self employed so really already semi retired as I only work when I want.
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£30k between 2 is classed as a luxurious retirement? Seems low to me.
 
Slatz63 said:
WHICH have done some figures and reckon £23k before tax gives a comfortable retirement. £30k before tax gives a luxurious retirement. These figures are for a couple. Luxurious includes 2 foreign holidays a year and a new car every 3.
Being retired can be a lot cheaper than you think.
My gold plated final salary pension was destroyed by divorce. Looking to finish in about 3 yeats at 58. Currently self employed so really already semi retired as I only work when I want.
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£39k for luxurious IIRC..
 
Kborom said:
58 now, could retire tomorrow but have another 6 months on a big project, then they want me permanent but I reckon 3 days a week for 2 or 3 years will be good. I've got a voluntary job which should pick up next year and may get me some nice local part time work, unpaid but part of the gentle move into retirement.

Or like most of the plans I've made in life, it will go tits up.
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Wow! Not noticed you on here in yonks! C2C next year? Herbal is organising it.
 
S.S.R.. said:
Those in their 40's thinking they'll be working in their 60s'; precisely what jobs do you reckon are going to be around in twenty year's time?

I'm amazed my current job isn't entirely done by computer yet and be surprised if it isn't in ten year's time.
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People have been saying there will be no jobs since the industrial revolution and it has not happened yet.
 
Slatz63 said:
WHICH have done some figures and reckon £23k before tax gives a comfortable retirement. £30k before tax gives a luxurious retirement. These figures are for a couple. Luxurious includes 2 foreign holidays a year and a new car every 3.
Being retired can be a lot cheaper than you think.
My gold plated final salary pension was destroyed by divorce. Looking to finish in about 3 yeats at 58. Currently self employed so really already semi retired as I only work when I want.
Click to expand...

But even then its not that straight forward as you dont need the 'income' if you have the cash in the bank to supplement it, as once you get to mid 70's you wont really need it. So you can just blow it all in the 1st dozen or so years. I reckon my parents pension will be combined around £23k (my mam is a couple of years off state pension but is in effect retired) but do also have healthy cash reserves. They go abroad 3 or 4 times a year, along with a number of weekends away, new car every 5 or 6 years. Have a very good lifestyle. Once mortgage is paid off & kids are out of your hair, you dont actually need that much. Holidays are cheaper as you can just go whenever it is cheap & take advantage of last minute deals cos you can pretty much go at the drop of a hat.
 
Just about to go to 2.5 days a week - yoiks! Really looking forward to it. Not sure yet what to do with the rest of my time but am gonna take my time and find out, I know myself well enough to know it won’t be wasted. Huge lifestyle change. Only biggie we’ve decided on so far is that we’ll get a dog next year. Probably do another couple of masters degrees after the current one because I’m a girly swot and enjoy them. Cook decent food - soon to gone are the days of us falling through the front door at 8pm and saying “is there a ready meal?” Probably do more yoga and swimming. Apart from that the world feels like it’s my lobster and I can’t wait.
 
janiep said:
Just about to go to 2.5 days a week - yoiks! Really looking forward to it. Not sure yet what to do with the rest of my time but am gonna take my time and find out, I know myself well enough to know it won’t be wasted. Huge lifestyle change. Only biggie we’ve decided on so far is that we’ll get a dog next year. Probably do another couple of masters degrees after the current one because I’m a girly swot and enjoy them. Cook decent food - soon to gone are the days of us falling through the front door at 8pm and saying “is there a ready meal?” Probably do more yoga and swimming. Apart from that the world feels like it’s my lobster and I can’t wait.
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Way to go. The thing is I have always been a curious soul as you seem to be if you are planning a couple of Masters. The void that no longer working leaves allows you huge opportunities. All the things you didn't have time for you can do. And it is wonderful. Have to remember though to pace yourself as the years tick by. And I'm no longer retaining information as well as I once did but the joy of rediscovery is a real boon. You go well janiep.
 
i might sell up here and move somewhere cheaper where i can buy a large house for next to fuck all... like england*



*I won't as we have fairly young kids, so i'll be working until i kick it.
 
Market Where? said:
I don't know when to go and am starting to worry that i will hang on too long. First milestone is to get the daughter through school which is May 2020. Then need to decide if I should work a bit to get her through university.

Currently just short of 48 and have got the house in the UK paid for. I would like to get somewhere warm as a bolthole but might just go for longterm renting.
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I am in a similar situation, I worry about running out of money so think I will retire later but then worry about working too long and dropping dead at work or just after retirement. Kids are both at university and a couple of years left on a mortgage and I am alright financially (being an expat for a number of years helps) but I am inherently cautious and I am sure I will overestimate what I need to live. At least the kids will be rich when I die. I also think about getting a place in Taiwan (wife's home country) as a winter bolthole but I am sure I will just talk about it for years and then never bother.
 
I'm semi-retired now. Gonna be that way for the rest of me life now I reckon. The necessity for going to work is diminishing at a fair rate of knots.
 

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