BiG
Winger
Whilst I understand your conclusion, I find it quite sad that you’ve lived almost an entire life disliking the majority of every waking moment of it.
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Retirement
- Thread starter Shieldsman
- Start date
Whilst I understand your conclusion, I find it quite sad that you’ve lived almost an entire life disliking the majority of every waking moment of it.
Billy Fish
Striker
I enjoy work, always have, even though there have been some periods of extreme stress and hassle it's been countered by feelings of great achievement and satisfaction and have mostly worked with great teams where we can have the craic no matter what challenges were going on around us.
Despite that it won't be enough to keep me working until State retirement age (unless Trump keeps having brain farts which are always highly possible)
In 18 months time I'll have done 40 years or so and reckon that's enough and will let the young'uns take over. I'm consciously spending time mentoring some of the ones I can see with the right attitude to flourish in their own careers and enjoy watching them develop.
Key now is to get as healthy as possible in the build up to giving up work so plenty swimming, cycling, keep trying to run but my leg muscles tell me not to be so stupid
. Targeting taking on a sprint triathlon at some stage next year. The swim and cycle will be no bother but the run might be a hobble...Had a good windsurfing session last week for the first time in a few years which is a good all body workout. Even now trying to get into Tai Chi or yoga after doing some on holiday which i strangely enjoyed, hopefully might help the running..
The GoGo years will consist of getting a camper and mixing continental and Scandinavian tours with just heading off around the UK when the weather and mood take us.
Will I miss work? Probably, I'll miss the problem solving and challenges it poses and especially the craic and team spirit there is but I reckon so long as I can stay active and be doing different things through the seasons I'll cope.
Mousehold Mackem
Midfield
My work career(s) has been a bit like yours and I can honestly say I've enjoyed all the jobs I've done and never felt I was a wage slave. Lucky I guess.
I really enjoyed work. Lucky enough to travel all over the globe with someone else picking up the tab. Worked with some great people and did some really exciting stuff. Also lucrative enough that I have a good pension before my statutory kicks in at 67.
I'm enjoying retirement more. Finished early at 61, 18 months into it now and yet to get bored. I have some structure, gym Mon, Wed, Fri, golf Wed and Fri. Everything else is freeform. Spent 6 weeks walking Camino last Sept/Oct, going back to do it again in 2 weeks. Lots of ad-hoc trips. Hardest part is getting mates to tag along, they are all still working and don't have enough annual leave to join me.
Being able to shoot off to something interesting at short notice is a freedom that you can't put as price on.
I'm enjoying retirement more. Finished early at 61, 18 months into it now and yet to get bored. I have some structure, gym Mon, Wed, Fri, golf Wed and Fri. Everything else is freeform. Spent 6 weeks walking Camino last Sept/Oct, going back to do it again in 2 weeks. Lots of ad-hoc trips. Hardest part is getting mates to tag along, they are all still working and don't have enough annual leave to join me.
Being able to shoot off to something interesting at short notice is a freedom that you can't put as price on.
archiesdad
Midfield
Friend of mine talked endlessly about his pending retirement. He used to send me a weekly message telling me how many days he had left ect. He finally took it at 55, great pension, debt free and had grand plans of adventures. Within 3 yrs he was in a drying out clinic and 4yrs took his own life. He lost purpose, routine and a sense of importance that his job provided. Cautionary tale, early retirement can be too early.
Fletch
Striker
Ffs bit grim that mate
JOEJA
Winger
Could pick holes in just about every part of your post.
I said i didnt enjoy them, not that i disliked them. I didnt go into work thinking I hated doing it but i could have dropped them in a second if i didnt have to be there. Possibly wrong to say i didnt enjoy lecturing as i was happy to be passing on skills to people who wanted to be there and learn.
Lived almost an entire life - a hope not arnly 54
Disliking every waking moment= ferk me a only do 9 to 5 mon to fri
BiG
Winger
Could pick holes in just about every part of your post.
I said i didnt enjoy them, not that i disliked them. I didnt go into work thinking I hated doing it but i could have dropped them in a second if i didnt have to be there. Possibly wrong to say i didnt enjoy lecturing as i was happy to be passing on skills to people who wanted to be there and learn.
Lived almost an entire life - a hope not arnly 54
Disliking every waking moment= ferk me a only do 9 to 5 mon to fri
Well ok. I misinterpreted you saying that you didn’t enjoy your work or any job, and that you only worked to pay the bills, as meaning that you disliked working. I apologise for that obvious misinterpretation.
If you work 9 to 5 that’s 8 hours out of every day. Let’s maybe add commuting or travelling to work. Say, an hour a day (pretty conservative). That’d be 9 hours a day devoted to work.
I said ‘waking’. So take away about 6 or 7 hours sleeping or resting. That leaves you 9 or 10 hours of ‘awake’, non working time. I don’t know if you stuck strictly to your 9-5 contracted hours, but many of the lecturers or safety consultants ( or similar jobs) I know spend/spent a lot of time preparing and/or researching etc. Maybe you didn’t. Fair enough. But I don’t think it’s totally outrageous to say that working - or work related activity - is pretty close to making up the majority of a lot of people’s waking hours. Which is why many people try to get into occupations or careers that they believe they’d enjoy.
I’m not having a go. I’m sympathising. I think it’s a shame for you. But I’m sorry that I misinterpreted ‘didn’t enjoy’ as meaning ‘didn’t like’.
Dark Traveller
Striker
My line manager retires next year at 66. Thirty eight years service. She had planned on possibly going when she turned 60, but Covid made her change her plans, and her husband’s health hasn’t been the best too.
I’ve worked with her for twenty five years, and so we know each other pretty well. She’s trying to encourage me to go at thirty five years service when I turn 62, but going off my TWLGPS forecast I’d only be looking at £18k pension (forecast using current salary) but my pension forecast for when I hit 67 will be £23k
So I’ll probably have to just bide my time until 67. It’s only another twelve years!
I’ve worked with her for twenty five years, and so we know each other pretty well. She’s trying to encourage me to go at thirty five years service when I turn 62, but going off my TWLGPS forecast I’d only be looking at £18k pension (forecast using current salary) but my pension forecast for when I hit 67 will be £23k
So I’ll probably have to just bide my time until 67. It’s only another twelve years!
Stick what you can afford into a private pension and you could chip months, maybe years off that 67 end date and bridge the gap between 18 and 23.
42
Striker
Strange that covid had the opposite impact to most other people as id say that more took early retirement because of covid.
JOEJA
Winger
No probs at all and a get ya point.
People who enjoy what they do is great for them. I have worked with plenty who are the same and work is their life and they seemed to love it.I probably painted a more dour picture than should have. My point is that work interferes with so many things that i would chose to do instead and because come next April i may be in a position to retire or at least chose when i work, I wont miss it one bit.
I don't hate work but like my time off more than time there.
Should have an ok lgps pension at 58-60. I put into an avc monthly hopefully to bridge the gap until state pension kicks in. Wish I'd started it earlier.
If i can get down to part time before that even better, will depend on the mortgage though.
If im working past 60 then something went wrong. Still a long way off yet.
Should have an ok lgps pension at 58-60. I put into an avc monthly hopefully to bridge the gap until state pension kicks in. Wish I'd started it earlier.
If i can get down to part time before that even better, will depend on the mortgage though.
If im working past 60 then something went wrong. Still a long way off yet.
The other way to look at it is you’d have had £90k already banked and 5 years of freedom from work before you hit 67, and there’s no guarantees in this life.
Folk putting stuff into their spreadsheets with financial models until they’re 87 are working with a shit ton of unknowns.
Live your life, love your life.
Dark Traveller
Striker
How you get to that figure?
I do have some savings, ISA Saver and general savings, which I regularly top up each month with £100-£200 from my salary, what I add in depends on how much I’ve pulled out with usual day-to-day stuff. Something I’ve attempted to do for nearly thirty years. But I look at that as not to draw down unless big jobs are needed for the house or something, and it’s something I hope will supplement my work pension.
Pension of £18k a year for 5 years, unless my maths has gone loopy in old age.
My best mates setting up with a new mrs, going halfs on a 900+k place with a mortgage running into their 70s. Stresses me out even thinking of it.
Think ill be jacking in 15years+ before him.
Think you’ll need discipline around drinks like n pencil a few dry days in every week.
Think ill be jacking in 15years+ before him.
Could have took that route 5,10 years later though mate.
Think you’ll need discipline around drinks like n pencil a few dry days in every week.
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moanjam
Midfield
Did you manage get the answer to your question about repayment of overpaid tax relief wether it's a lumper or on your tax code ? I'm interested as I think I might have overpaid this year.
Amokachi
Winger
Me & friends always say that if we won the Euro millions we'd not last 5 years.
Edinburgh Black Cat
Striker
Exactly
@Dark Traveller you'll have 5 years at £18k before you reach 67. Which is £90k.
If you hold off until 67 then you'd need to live until you're at least 85 to 'break even' and that's before considering the tax savings you'll get by taking it early. Assuming you have no other income, that'll save you almost 20%. So really you'll need to live until 92 to 'break even'.
People often misunderstand the 'penalty' for taking a pension early. It isn't a penalty, it is generally the same amount spread across a different time frame.
