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Retirement


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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Anyone who puts their job/work above anything else is f*cking tragic if you ask me.
 
Derbla said:
Paying max % so employer matches it
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That’s not really maxing it out. I’m sure you can put somet like the value of your salary or 40k max per year if you’re a standard rate tax payer, maybe the same or more if you’re a higher rate tax payer. If he retires at 40 and is relying pure on pension performance to carry him through the rest of his life, I don’t thing there’ll be enough compounding happening. Tbf I obviously don’t know his salary or his expectations for a retirement income. etc.
 
The said:
That’s not really maxing it out. I’m sure you can put somet like the value of your salary or 40k max per year if you’re a standard rate tax payer, maybe the same or more if you’re a higher rate tax payer. If he retires at 40 and is relying pure on pension performance to carry him through the rest of his life, I don’t thing there’ll be enough compounding happening. Tbf I obviously don’t know his salary or his expectations for a retirement income. etc.
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£60k or yearly earnings whichever is higher. Can't take pension money until 55 soon to be 57.
 
Darlo1973 said:
Probably going to need a lot more than a million to retire at 40 especially if you want to have any kind of decent lifestyle
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You can’t access it, as others have said will rise to 57 soon, by time he reaches that age it’s likely to be 60 IMO and state pension 70 or means tested
 
Semi retired at 52. Kept a couple of easy to run generally hassle free businesses just incase the semi retirement didn’t suit me.
3 years later and I’m ready to retire fully.
At 55 there’s so much to do whilst still healthy and there’s no better feeling than not being on the ‘clock’
 
Fletch said:
You can’t access it, as others have said will rise to 57 soon, by time he reaches that age it’s likely to be 60 IMO and state pension 70 or means tested
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He can't "properly" max out as he's currently on apprentice money but he's seriously looking into FIRE and yes, he can be bankrolled a bit...if you don't have a plan you'll never achieve it. Helping him to get on plan 20 years before I twigged is a good thing.
 
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Paddy O'Dors said:
Anyone who puts their job/work above anything else is f*cking tragic if you ask me.
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I know what you mean.

What’s tragic to me is going through life in a 9-5pm job waiting for your fortnight round a pool once a year (all inclusive….) and wishing your life away.


That’s not a dig, that’s my personal take on my working life. I need that goal or target and the buzz of it all.
SPUFF said:
I dunno like. Own business 17 years.

May not be your boss but huge customers may as well be.

Also everything is your problem, nowhere to hide. Being a control freak doesnt help me mind.

It can be a nightmare but rewards have been good I guess, and flexibility at times.

You’re certainly unique pal 😉
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Control freak ? Ya never there che your always on the golf course ;)
 
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Fletch said:
Self employed often dont have pensions also , or start to pay in when fairly old .
That happened with us , wife (no) self employed , when young never thought about pensions , only once in late 40s suddenly thought .,,, shit .
Whereas if working in a company often paying into Pension from age 17/18 and Employer contributing , makes huge difference
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My wife is self employed and was not really paying much into a pension for a while until I brought it up. We have a figure per year joint income when retired, she is not going to make her half but hopefully I'm on course to be making over my half so we think it should balance out.
Paddy O'Dors said:
Anyone who puts their job/work above anything else is f*cking tragic if you ask me.
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I think there are a small amount of careers where that is not the case. Research being a big one.

Many of the ones I know are following their interests. They have an idea or area they are passionate about, apply for funding and then go and research it. Quite a lot retire but still keep coming into work for a good while after to continue work on their project, just do it without getting paid.

There is probably stuff in animal hospital/rescue or reintroduction that qualify. Or field work abroad, going to live with a particular type of animal for a year to study and photograph them.

Artists, musicians and professional sports people, but it really is a small amount of people who manage that level.
 
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Gillythedilf said:
I know what you mean.

What’s tragic to me is going through life in a 9-5pm job waiting for your fortnight round a pool once a year (all inclusive….) and wishing your life away.

That’s not a dig, that’s my personal take on my working life. I need that goal or target and the buzz of it all.
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I'm nearly 57 and retired on 8 September just gone. Today is the second Sunday I've sat and thought to myself how great life is that I don't have to get up for work in the morning. I don't miss it and I never will.

Off to India backpacking next month watching a few games in the cricket world cup. I not a massive fan of package holidays myself but the missus is, so I spent a week round the pool in Zante in July as a trade off for her travelling around India. All about give and take.
 
Gillythedilf said:
What’s tragic to me is going through life in a 9-5pm job waiting for your fortnight round a pool once a year (all inclusive….) and wishing your life away.;)
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I'm with you on that one. It is one reason why I work where I do or in the industry I do. Flexi time, so one day I can start at 8, another start at 10, or do a long day and a short day. So long as I do about 35 hours per week, anything goes. Used to take long lunch breaks in my last job to play football.

Then I get a couple of days extra off to make a 6 day Easter break, Christmas is always off from about the 22nd through to the 4th and on top of that I have another 5 1/2 weeks to do with what I like.

When I do go away, the thought of spending it sitting on a beach or round a pool fills me with dread.

My family holiday as a bairn was always beach every day to burn in the sun. Could not shelter under the parasol at midday because the shadow was small and the coolbox took priority. 2 weeks as a kid sitting doing nothing. When I was 16, my sister had just moved out and I had the choice of having the house to myself or going to sit on a beach with parents. It was then I realised I'd never have another beach holiday again.

Some people only have the two weeks like you say and sit on their arses for all of it. Insane.
 
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