Retirement

[Slim999]

Mate £250k isn’t that much these days (or combined 400 for a couple ).

I did specify that you would have a potbof £250k / £400k for a couple and ( crucially) ... keep it invested in worthwhile equities - only drawing down what you need each year

So £250k - it acquires even a modest 5% Growth per annum - that is £12.5k. More likely growth would be closer to £20k.

So you take £20k out and the total is undiminished

Also remember I'm taking about those homeowners who are fully paid up mortgage wise - and aren't expecting to spend £ 10k per annum on cars or holidays

It's definitely doable

If you retire at 57 ( as I did) - gaving earned full NI contributions- then you've only got a decade to bridge before another £10k per annum starts falling into your account

 

[Slatz63]

Looking at getting out sometime next year. Inherited a house which still needs a lot of work to get to a selling position, but once that's sold, we'll have enough to last 6/7 years before hitting pensions. Will also sell the main house and downsize a bit to allow us to travel the world for a few years and give our boys a sizeable deposit for them to get on the property ladder.

Keep receipts for all the work you do on the property. You can deduct that from your capital gains tax bill.

 

[Sunderland Til I Cry]

I’ve become obsessed with it, only 53 but I’m finding it harder with every passing week to get out of bed.

I’m on the trains and yeah I know we’re lazy overpaid bastards but whatever else you say our shifts are extreme. I’m finishing a week of lates today, off at 02.14 and then I start earlies with a 03.27 on Monday.

Years of this is really unhealthy for you. Doesn’t matter what time you go to bed, getting up at just after 2am is not good.

At the very least I’m going part time at 55. Wish I could make head or tail out of what my pension is worth at 55 but it’s clear as mud. I think I can get somewhere around 100k lump sum and around £1200 a month level pension plus obviously I’d still be working part time. Not a chance I’m going past 58 without full retirement.

Got a few quid in the crypto lottery (about 40k) so if that can grow to 100k or so in the supposed upcoming bull run then I’ll retire fully at 55.

I’ve also hardly taken any sick in the last 35 years but that is definitely going to change over the next couple. Sick of the same people ripping the arse out of it every year and being no worse thought of

Good luck Marra, if you can go for it, it’s the best thing i ever did getting out at 55, every day i have is like nectar. Was in a similar position, saw through the corporate bullshit and hated having to sit biting my lip while we were literally getting the emperors new clothes presented to us. I think it’s an age thing tbh, certainly was in my case, i started to see things for what they were and struggled to keep my mouth shut, only to have these f@ckwits look at me as though i was the mad one .
it’s not for everyone as i said earlier in this thread, but i have no issue blissfully filling my days.

 

[Boris Bear]

Good luck Marra, if you can go for it, it’s the best thing i ever did getting out at 55, every day i have is like nectar. Was in a similar position, saw through the corporate bullshit and hated having to sit biting my lip while we were literally getting the emperors new clothes presented to us. I think it’s an age thing tbh, certainly was in my case, i started to see things for what they were and struggled to keep my mouth shut, only to have these f@ckwits look at me as though i was the mad one .
it’s not for everyone as i said earlier in this thread, but i have no issue blissfully filling my days.

Are you me?

8 years left of trying not to kill anyone here.

 

[The]

Good luck Marra, if you can go for it, it’s the best thing i ever did getting out at 55, every day i have is like nectar. Was in a similar position, saw through the corporate bullshit and hated having to sit biting my lip while we were literally getting the emperors new clothes presented to us. I think it’s an age thing tbh, certainly was in my case, i started to see things for what they were and struggled to keep my mouth shut, only to have these f@ckwits look at me as though i was the mad one .
it’s not for everyone as i said earlier in this thread, but i have no issue blissfully filling my days.

I’ve been like that for the last 10 year . I’m 39.

 

[Sunderland Til I Cry]

Are you me?

8 years left of trying not to kill anyone here.

Was only my last 2 years tbh but felt it coming on after i turned 50, managed until i was 53 but the last two years were purgatory. A few changes in the business along with a spineless senior management chain who were all afraid of the person above them just tipped me over the edge. Most of them would agree black was white if their line manager said so, then try and convince us it was white too in an oh so serious manner, my bewilderment had no bounds . I honestly have no idea how f@ckwits like that sleep at night, delusional doesn’t cover it.

 

[Pnematic1]

Good luck Marra, if you can go for it, it’s the best thing i ever did getting out at 55, every day i have is like nectar. Was in a similar position, saw through the corporate bullshit and hated having to sit biting my lip while we were literally getting the emperors new clothes presented to us. I think it’s an age thing tbh, certainly was in my case, i started to see things for what they were and struggled to keep my mouth shut, only to have these f@ckwits look at me as though i was the mad one .
it’s not for everyone as i said earlier in this thread, but i have no issue blissfully filling my days.

The corporate crap was the key driver in me getting out.
Sick of the crap spouted by senior management conning the staff , who being younger and less experienced , swallowed the shite.
Then the middle managers walking all over folk just to get further up the ladder.
I’m the easiest going laid back chap but I swear I’d have sparked some fucker out if I hadn’t walked.
The bullshit and false promises , not to mention over promoted slimeballs became to much to stomach.

 

[Swindon On Tour]

Was only my last 2 years tbh but felt it coming on after i turned 50, managed until i was 53 but the last two years were purgatory. A few changes in the business along with a spineless senior management chain who were all afraid of the person above them just tipped me over the edge. Most of them would agree black was white if their line manager said so, then try and convince us it was white too in an oh so serious manner, my bewilderment had no bounds . I honestly have no idea how f@ckwits like that sleep at night, delusional doesn’t cover it.

Have you tried linked in Mate

Honestly I will raise you with Corporate Bullshit and trying to manage a challenging team. Like managing a Premiership team with a transfer embargo, loan signings and academy players.
Few years back I would have had the heart and hunger - fuck that - Get me out of here with 15 more days to go.

Currently work for a US Company, The overall boss an absolute C. His immediate team are terrified of him, detest the arrogant, self centred cock.
My opposite Manager is a nervous wreck, mid 30’s and a real good guy and leader, I feel for him. I am going to need a few months to come down from the Corporate World to slow down mode.
I share your path Mate.

I did specify that you would have a potbof £250k / £400k for a couple and ( crucially) ... keep it invested in worthwhile equities - only drawing down what you need each year

So £250k - it acquires even a modest 5% Growth per annum - that is £12.5k. More likely growth would be closer to £20k.

So you take £20k out and the total is undiminished

Also remember I'm taking about those homeowners who are fully paid up mortgage wise - and aren't expecting to spend £ 10k per annum on cars or holidays

It's definitely doable

If you retire at 57 ( as I did) - gaving earned full NI contributions- then you've only got a decade to bridge before another £10k per annum starts falling into your account

Notwithstanding if you can factor in any inheritance.
Whilst I never like to think about it and no idea as to how things will pan out but it can support a plan.

I’ve become obsessed with it, only 53 but I’m finding it harder with every passing week to get out of bed.

I’m on the trains and yeah I know we’re lazy overpaid bastards but whatever else you say our shifts are extreme. I’m finishing a week of lates today, off at 02.14 and then I start earlies with a 03.27 on Monday.

Years of this is really unhealthy for you. Doesn’t matter what time you go to bed, getting up at just after 2am is not good.

At the very least I’m going part time at 55. Wish I could make head or tail out of what my pension is worth at 55 but it’s clear as mud. I think I can get somewhere around 100k lump sum and around £1200 a month level pension plus obviously I’d still be working part time. Not a chance I’m going past 58 without full retirement.

Got a few quid in the crypto lottery (about 40k) so if that can grow to 100k or so in the supposed upcoming bull run then I’ll retire fully at 55.

I’ve also hardly taken any sick in the last 35 years but that is definitely going to change over the next couple. Sick of the same people ripping the arse out of it every year and being no worse thought of

Definitely a 50’s thing, it also hit me. Approaching 60 it gets even harder.
Your plane is starting to descend Mate and hope you can land as soon as you possibly can.

 

[Sunderland Til I Cry]

Have you tried linked in Mate

Honestly I will raise you with Corporate Bullshit and trying to manage a challenging team. Like managing a Premiership team with a transfer embargo, loan signings and academy players.
Few years back I would have had the heart and hunger - fuck that - Get me out of here with 15 more days to go.

Currently work for a US Company, The overall boss an absolute C. His immediate team are terrified of him, detest the arrogant, self centred cock.
My opposite Manager is a nervous wreck, mid 30’s and a real good guy and leader, I feel for him. I am going to need a few months to come down from the Corporate World to slow down mode.
I share your path Mate.

US company here too, bully of a US director who terrified everyone (except me ) banned any negative feedback in meetings etc. If it wasn’t positive then you were marked as trouble and spoken tonlater, unbelievable that we couldn’t air genuine serious issues just because that prick didn’t want to hear it.
Walked similar paths by the sound of it. Congratulations, so pleased you escape in 15 days mate, you will love it. Never missed it for a second.

 

[Matt Hopkins]

I did specify that you would have a potbof £250k / £400k for a couple and ( crucially) ... keep it invested in worthwhile equities - only drawing down what you need each year

So £250k - it acquires even a modest 5% Growth per annum - that is £12.5k. More likely growth would be closer to £20k.

So you take £20k out and the total is undiminished

Also remember I'm taking about those homeowners who are fully paid up mortgage wise - and aren't expecting to spend £ 10k per annum on cars or holidays

It's definitely doable

If you retire at 57 ( as I did) - gaving earned full NI contributions- then you've only got a decade to bridge before another £10k per annum starts falling into your account

I've no doubt living on £20k is doable. It's your assumptions on how you get there that would be worrying me.

 

[Swindon On Tour]

US company here too, bully of a US director who terrified everyone (except me ) banned any negative feedback in meetings etc. If it wasn’t positive then you were marked as trouble and spoken tonlater, unbelievable that we couldn’t air genuine serious issues just because that prick didn’t want to hear it.
Walked similar paths by the sound of it. Congratulations, so pleased you escape in 15 days mate, you will love it. Never missed it for a second.

This Tosser was in a restaurant in the US with my opposite Manager, as mentioned above.
Moment of quietness, he was looking around the restaurant and said,”James I am the richest person in here.”
I would have struggled not to keep my mouth shut because that is one of my pet hates. Unreal.

 

[Hair Flick]

This Tosser was in a restaurant in the US with my opposite Manager, as mentioned above.
Moment of quietness, he was looking around the restaurant and said,”James I am the richest person in here.”
I would have struggled not to keep my mouth shut because that is one of my pet hates. Unreal.

The richest yet poorest in equal measure.

 

[Sunderland Til I Cry]

This Tosser was in a restaurant in the US with my opposite Manager, as mentioned above.
Moment of quietness, he was looking around the restaurant and said,”James I am the richest person in here.”
I would have struggled not to keep my mouth shut because that is one of my pet hates. Unreal.

What a complete w@nker, sadly doesn’t surprise me.

 

[Kobayashi]

Good luck Marra, if you can go for it, it’s the best thing i ever did getting out at 55, every day i have is like nectar. Was in a similar position, saw through the corporate bullshit and hated having to sit biting my lip while we were literally getting the emperors new clothes presented to us. I think it’s an age thing tbh, certainly was in my case, i started to see things for what they were and struggled to keep my mouth shut, only to have these f@ckwits look at me as though i was the mad one .
it’s not for everyone as i said earlier in this thread, but i have no issue blissfully filling my days.

This is me! 58 now with redundancies coming, no cap on the value so after 19yrs I'd get 2 1/2 yrs salary. Currently staying awake at night thinking of ways to ensure they mould the criteria to fit me.....

 

[Sunderland Til I Cry]

This is me! 58 now with redundancies coming, no cap on the value so after 19yrs I'd get 2 1/2 yrs salary. Currently staying awake at night thinking of ways to ensure they mould the criteria to fit me.....

Good luck Marra, hope it works out for you.

 

[Slim999]

I've no doubt living on £20k is doable. It's your assumptions on how you get there that would be worrying me.

So just to be clear - you don't think it's possible for a 57 yo with a fully paid up mortgage and £250k sitting in a well managed fund - to retire and see his / her way through to State retirement age at 67 ?

 

[Matt Hopkins]

So just to be clear - you don't think it's possible for a 57 yo with a fully paid up mortgage and £250k sitting in a well managed fund - to retire and see his / her way through to State retirement age at 67 ?

I never said that at all.
I'm saying your assumptions are massively optimistic. You won't be able to take £20k per year out of a £250k pot for 10 years and still have £250k in the pot.

 

[Wilfy]

This is me! 58 now with redundancies coming, no cap on the value so after 19yrs I'd get 2 1/2 yrs salary. Currently staying awake at night thinking of ways to ensure they mould the criteria to fit me.....

Hoy some sick days in.

 

[42]

I never said that at all.
I'm saying your assumptions are massively optimistic. You won't be able to take £20k per year out of a £250k pot for 10 years and still have £250k in the pot.

Tbf, £20k out of £250k is 8% which is about the historical average of market returns, so there is half a chance that he could make it. However, the big thing he seems to have forgotten about is inflation, and the £20k will need to be increased year in year. That being the case then keeping the full £250k after 10 years is way more difficult.

 

[Matt Hopkins]

Tbf, £20k out of £250k is 8% which is about the historical average of market returns, so there is half a chance that he could make it. However, the big thing he seems to have forgotten about is inflation, and the £20k will need to be increased year in year. That being the case then keeping the full £250k after 10 years is way more difficult.

Yeah I get all that. Taking 8% pa out of your pot and retaining it is a massive risk imho. I've already mentioned sequence of returns risks which could absolutely knacker his plans.
A couple of months ago he mentioned growth of his pot of 17% in 5 years, there is absolutely no guarantee that his new funds wont perform the same way in the next 5 years, they could even do worse