Retirerment at 43 - Man logic....
Discussion
Sons uni fees etc
Huge cost of maintaining crap BTL`s
Boredom - you will nip out and get a sportscar once sunny afternoon
Brain death through boredom
etc
I suggest you do all you say you will but start up a lifestyle business doing something you love to keep you busy as much as you want. Im older than you but I plan a small bakery for my do nothing years.
Huge cost of maintaining crap BTL`s
Boredom - you will nip out and get a sportscar once sunny afternoon
Brain death through boredom
etc
I suggest you do all you say you will but start up a lifestyle business doing something you love to keep you busy as much as you want. Im older than you but I plan a small bakery for my do nothing years.
Forget all the man math, self discipline is the must have in retirement, at whatever age.
You will still need a routine. Get up early, go for a walk, the gym, or whatever. Don't sit around the house all day watching day time TV. Keep busy.
It can be so easy to get lazy, then bored, then depressed.
You will still need a routine. Get up early, go for a walk, the gym, or whatever. Don't sit around the house all day watching day time TV. Keep busy.
It can be so easy to get lazy, then bored, then depressed.
Yipper said:
The trick to super-early retirement is to continue working part-time. Else you go stale and get bored. Drive a taxi, do some freelance consulting, sell cars on Ebay, refurb property, whatever.
The other angle is to do something charity based. My dad's done a lot of this since retiring at 50, 22 years ago. It keeps his brain whirring, so to speak. Welshbeef said:
garyhun said:
As you get older your desires and priorities change, regardless of whether you are retired.
I used to travel a lot when I was in my 20s, 30s and 40s but now not so much. A drive down through France into Italy for a couple of weeks is all the holiday I need (and not necessarily every year). Most of the time I love to be doing things in nature and taking small UK trips (which can be very cheap if it's mid-week and not in peak season).
Retirement gives you so much more flexibility in what/how/when so it's not that easy trying to compare it to what you do now.
Generally If you have kids you have hem in the 36-65year range/when hey are dependant on you. I used to travel a lot when I was in my 20s, 30s and 40s but now not so much. A drive down through France into Italy for a couple of weeks is all the holiday I need (and not necessarily every year). Most of the time I love to be doing things in nature and taking small UK trips (which can be very cheap if it's mid-week and not in peak season).
Retirement gives you so much more flexibility in what/how/when so it's not that easy trying to compare it to what you do now.
What is this mid week holidays melarky you can only take holidays in school holiday time.
Clearly if you have no kids and never will the cost to live is immensely less but given the UK average is 2.4 kids and we are in a baby boom and have been for a number of years that is increasing.
As I and others have said, it's going to be a very different and personal thing as and when you retire.
I think it defo needs a lot of planning but also an understanding of what is possible. I think a lot of people overlook their potential to retire early and just plod on. We have a work ethic in this country and in the current middle aged generation.
I suspect early retirement will be a much more common thing for people born after 2000. That said they have it very easy in terms of flexi working, paid holiday entitlement, maternity etc etc. I heard the other day that one company gives their employees 10 paid days off each year for "personal days". You don't have to give a reason or any notice. Crazy to me, but for the youngsters coming through companies like this that's going to be a normal thing for them.
The other big factor is the type of job you do. Someone who works in an office doing fairly low stress work will find it easier to work later. People doing manual labour or high stress jobs will run out of steam a lot sooner. Some people also really enjoy their jobs... so why stop working, others (like me!) hate their jobs!
I suspect early retirement will be a much more common thing for people born after 2000. That said they have it very easy in terms of flexi working, paid holiday entitlement, maternity etc etc. I heard the other day that one company gives their employees 10 paid days off each year for "personal days". You don't have to give a reason or any notice. Crazy to me, but for the youngsters coming through companies like this that's going to be a normal thing for them.
The other big factor is the type of job you do. Someone who works in an office doing fairly low stress work will find it easier to work later. People doing manual labour or high stress jobs will run out of steam a lot sooner. Some people also really enjoy their jobs... so why stop working, others (like me!) hate their jobs!
GT03ROB said:
Who's going to pay all the tax to guarantee you skiing & sailing holidays every year!!
We will likely need a tax on sales for automation of roles to help fund a non working population. If we all retire early who will man the shops make us food pull our pints run the zoos. Or is it purely be for those lucky enough to have beaten average joe and now milk it?
Welshbeef said:
We will likely need a tax on sales for automation of roles to help fund a non working population.
If we all retire early who will man the shops make us food pull our pints run the zoos. Or is it purely be for those lucky enough to have beaten average joe and now milk it?
Why do you class it as 'milking it'? The fruits of ones labours and a reduced level of luxuries to make it happen are hardly milking it.If we all retire early who will man the shops make us food pull our pints run the zoos. Or is it purely be for those lucky enough to have beaten average joe and now milk it?
Welshbeef said:
GT03ROB said:
Who's going to pay all the tax to guarantee you skiing & sailing holidays every year!!
We will likely need a tax on sales for automation of roles to help fund a non working population. If we all retire early who will man the shops make us food pull our pints run the zoos. Or is it purely be for those lucky enough to have beaten average joe and now milk it?
Frankly if you can't afford to retire from your own endeavours, work til you drop. And if you can't work & can't support yourself there's always euthanasia (joke
) garyhun said:
Why do you class it as 'milking it'? The fruits of ones labours and a reduced level of luxuries to make it happen are hardly milking it.
Because if everyone who could do it did then you'd have a massive class divide. Those who cannot tough you have to work until you drop Welshbeef said:
What we all need is universal income then we can slack off at a very early age
I think a lot of people who aim to retire early work pretty long hours to maximise their savings and also bring their FIRE date as close as possible. I work at least 50 hours a week but usually over 70. Sure there are people who have great pensions that they can take at a very young age and still work fairly normal hours, teachers, police, civil service etc but on the whole if you done have a DB pension and its all "DIY" then you have every right to retire early. As an employer and business owner the main things I will be happy about will be not dealing with customers or the employees. So you say who will keep the local shops running etc but you have to understand the environment small business owners are expected to operate in and how difficult it can be dealing with all the guff that comes with it.
How right you are - I am looking to sell my business. Not so I can watch daytime TV but because I am fed up with the entitled bulls
t from millennial employees, dimwit clients who think working for FTSE companies bestows on them an intelligence and status that they would not achieve on their own, and misery of dealing with Govt agencies who regard the private sector as a necessary evil. And breathe.
t from millennial employees, dimwit clients who think working for FTSE companies bestows on them an intelligence and status that they would not achieve on their own, and misery of dealing with Govt agencies who regard the private sector as a necessary evil. And breathe.Grandad Gaz said:
Forget all the man math, self discipline is the must have in retirement, at whatever age.
You will still need a routine. Get up early, go for a walk, the gym, or whatever. Don't sit around the house all day watching day time TV. Keep busy.
It can be so easy to get lazy, then bored, then depressed.
Most people who get rich do so because they save more.You will still need a routine. Get up early, go for a walk, the gym, or whatever. Don't sit around the house all day watching day time TV. Keep busy.
It can be so easy to get lazy, then bored, then depressed.
Most people who stay rich do so because they spend less.
Welshbeef said:
Because if everyone who could do it did then you'd have a massive class divide. Those who cannot tough you have to work until you drop
Very few people will ever be able to retire at 50 and keep any semblance of a middle class life.Most of those will probably get it through inheritance.
audidoody said:
How right you are - I am looking to sell my business. Not so I can watch daytime TV but because I am fed up with the entitled bullst from millennial employees, dimwit clients who think working for FTSE companies bestows on them an intelligence and status that they would not achieve on their own, and misery of dealing with Govt agencies who regard the private sector as a necessary evil. And breathe.
Would do it tomorrow.... t from millennial employees, dimwit clients who think working for FTSE companies bestows on them an intelligence and status that they would not achieve on their own, and misery of dealing with Govt agencies who regard the private sector as a necessary evil. And breathe. good luckGassing Station | Finance | Top of Page | What's New | My Stuff