Early retirement

[chockswahay]

A few things that I really like about retirement……..

Not having to get up at Bonkers O’clock

Not having to commute for an hour each way

Being able to take advantage of sunny weather when it comes (usually a week day!)

Not having to take time off when the weather is rubbish (weekends) and the rest of the working population is having to do the same therefore everything busy.

Not having to be back at work on Monday mornings (usually just as the weather improves!)

Being able to pick up or drop off the grandchildren from school

Going away for as long as we bl@@dy well like, when we bl@@dy well like, because we don‘t have to cram everything into annual leave.

Doing DIY stuff etc at any time and not on my ‘precious weekend off’

I could keep on going with this list, there is a lot to like! Downsides? of course there are a few……. but quite frankly all offset by the gains

 

[Kevin5658]

TOTAL AGREE
Retired at 55 ,Wife 53, took my private work pension with a 20% loss as advised by a financial adviser. Moved, owned property in Greece for 12 years. Moved back to the uk nearly 2 years ago, bought a Cali 18 & loved it! Waiting for Cali 24 to arrive, looking forward to new adventures, as the advisor said to me when I was 30, take your pension when you can, 20% less you will enjoy more while you are younger, he was spot on, age creeps up on you!

 

[BeagleMum]

My Mrs had the right idea: get promoted to maximise your income, have children and return to work part time. 4 days on, 3 days off is a good balance. Shes done that since 39 and at 52 she’s still content with her balance, no thoughts of retiring before her 67 state pension age, when she’s in line for £60k/a at todays prices.
On the other hand, I’ve played a conventional hand, throttle back at work, full time, drink, holidays, houses, gifts and vehicles and if I retire at 67, I should have a £50k/a income.
There’s no doubt I’ve had a less stressful (but less satisfying perhaps) work life but I’ve certainly put more hours in for less money.

Aim for part time and work longer, is my advice - keep busy, stay engaged and maximise your income by retiring later.

Early retirement is very much a personal decision dependent upon individual circumstance. The unknown is that no one’s ‘tomorrow’ is guaranteed. I have lost family members and work colleagues before they got anywhere near retirement age. My brother and best friend died unexpectedly in their early fifties within 6 days of each other, my cousin in her mid fifties just six months later. All three working continuously since university. I’ve worked with colleagues who had multiple plans for when they retired, only for them to not live until retirement age or die soon after.
I was determined I was going to retire as early as possible. Now into my tenth year of retirement I still absolutely love it, I’m still busy and engaged, just not with paid work.

 

[kave]

So a question for you early retirees, if I may. My wife and I are 53 and in the throes of selling our business (not something I’d wish on anyone - it’s stressful).

What’s your advice on financial planning? I’m rather allergic to IFAs. Is there independent advice or a good book on how to plan investments etc that has worked for you? Or did you just bite the bullet and pay someone?

There is just one thing to do: invest in global index fund. That will give you about 7% each year. No need to pay anyone for that.

 

[pjm-84]

I took advice a few years back. Very lazy....anything less than <100k, I'll stick it in a fund, do nothing, charge you 3% a year and receive a commission from the fund annually. I will charge you for the initial advice (what advice?)....... Is this the same fund I can put money into via my SIPS.....hmmmm yes.

HL offered me "free" advice which turned out not to be free if I acted upon that advice.

Anyway, director talk and work load review this morning.....at least 5 to 7yrs work in the pipeline....

 

[chockswahay]

A few things that I really like about retirement……..

Not having to get up at Bonkers O’clock

Not having to commute for an hour each way

Being able to take advantage of sunny weather when it comes (usually a week day!)

Not having to take time off when the weather is rubbish (weekends) and the rest of the working population is having to do the same therefore everything busy.

Not having to be back at work on Monday mornings (usually just as the weather improves!)

Being able to pick up or drop off the grandchildren from school

Going away for as long as we bl@@dy well like, when we bl@@dy well like, because we don‘t have to cram everything into annual leave.

Doing DIY stuff etc at any time and not on my ‘precious weekend off’

I could keep on going with this list, there is a lot to like! Downsides? of course there are a few……. but quite frankly all offset by the gains

Taking time out…. because we can

 

[This_one_goes_to_eleven]

As a base tool for planning I’ve found this site useful. It’s free to register. It’s in dollars but doesn’t matter. Gives a good spread for those of us on DC- it’s interesting to see the variance between lucky and unlucky. It just tells me that the time will never be 100% right so best to just get on with it.

I intend to go not long after 55 in a few years unless I start to enjoy my job again. I’ll do charity work to keep myself busy in between extended trips to play golf in the Cali.

Honest Math

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