Facing retirement.
Discussion
I gave up my career aged 40 to take on a house husband role thus allowing Mrs M3' to fulfill her career ambitions. Don't plan to resume a career at any point and me being at home all day works well for all the family. So I consider myself as being retired now. Between managing the household, car fettling and exercising, I am pretty much fully occupied. Always have a project of some sort on the go and planning future projects. I love it.
), it does run some very interesting activities that I would be involved in if I did have time.depends what you are willing to work but there's plenty of jobs around post 55. i take it that's enforced retirement age from current employers?
company i work for would employ you and we have a big project coming up [2yr duration] in the philipines. means working an 8/2 rotation though which is not ideal.
company i work for would employ you and we have a big project coming up [2yr duration] in the philipines. means working an 8/2 rotation though which is not ideal.
Enjoy it a lot will be working well into their 60's if you can afford it well done. Get a hobby, a dog, an allotment etc... It doesn't mean you can't do the odd days work volunteer, become a handyman a gardener the key is to keep active. I would be over the moon if I could afford to retire at 55.
My wife and I both retired a couple of years ago, we are both 54 in the next couple of months. Whilst we both enjoyed work our lives have never revolved around it. We had always worked to live, rather than live to work, certainly for the last 15 years or so.
When the opportunity to retire presented it's self, because we no longer needed to work for financial reasons, we embrased it fully. Before we retired we had reached a stage in our lives where our combined income for the first time ever had moved into 6 figures, with our mortgage paid off and the kids having left home. So we were cash rich (in our world) but time poor. Having seen a couple of apparently fit and healthy friends suddenly drop dead in their 50's we decided that we needed to redress the balance.
We have had some great holidays, 6 weeks in Australia last year, and now have so much more time to do the things we want to do, the things that used to be crammed into 2 precious days off, or for me for the last few years 1.5 days off. Jobs that you would previously have had to do in your precious annual leave, like decorating the lounge or remodeling the garden you can now take 2 or 3 weeks over and do it properly rather than rushing it.
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We take time to go and stay with friends and family now, our daughters both live in different parts of the country as do my wifes brothers and sister and the one remaining parent.
Now the one caveat to all this is that you need to have the financial security to lead a reasonable life style, we are lucky in that a large part of our income comes from property investments not salary, and I have a reasonable military final salary pension
The only time of year when we sometimes find ourselves at a loose end is now, the middle of winter. But we are just about to skip of to Sharm for a couple of weeks of lying in the sun and snorkeling.
When the opportunity to retire presented it's self, because we no longer needed to work for financial reasons, we embrased it fully. Before we retired we had reached a stage in our lives where our combined income for the first time ever had moved into 6 figures, with our mortgage paid off and the kids having left home. So we were cash rich (in our world) but time poor. Having seen a couple of apparently fit and healthy friends suddenly drop dead in their 50's we decided that we needed to redress the balance.
We have had some great holidays, 6 weeks in Australia last year, and now have so much more time to do the things we want to do, the things that used to be crammed into 2 precious days off, or for me for the last few years 1.5 days off. Jobs that you would previously have had to do in your precious annual leave, like decorating the lounge or remodeling the garden you can now take 2 or 3 weeks over and do it properly rather than rushing it.
.
We take time to go and stay with friends and family now, our daughters both live in different parts of the country as do my wifes brothers and sister and the one remaining parent.
Now the one caveat to all this is that you need to have the financial security to lead a reasonable life style, we are lucky in that a large part of our income comes from property investments not salary, and I have a reasonable military final salary pension
The only time of year when we sometimes find ourselves at a loose end is now, the middle of winter. But we are just about to skip of to Sharm for a couple of weeks of lying in the sun and snorkeling.
My dad's a painter and decorator. He retired at 63 after running into a manager who he didnt get on with. Found himself bored s
tless after 3 months so started working again part time for a mate. Did that for 2 years, then retired again, now 66 he's decided he's not really retirement age and fancies doing something part time again
I think if you stop suddenly you miss the routine, despite the pains and everything, feeling useful is a good thing. I dont have a pension, sold the house that was going to be the nest egg so kind of looking around thinking I probably should do something about saving for the future. Ends of months are tight enough already though without trying to find an extra few hundred quid to bank away, so kind of stuffed on that one. I'd probably need to keep working til I keeled over, which as long as I have my health would be OK with me, hate feeling useless and get bored quickly if I'm not occupied
tless after 3 months so started working again part time for a mate. Did that for 2 years, then retired again, now 66 he's decided he's not really retirement age and fancies doing something part time againI think if you stop suddenly you miss the routine, despite the pains and everything, feeling useful is a good thing. I dont have a pension, sold the house that was going to be the nest egg so kind of looking around thinking I probably should do something about saving for the future. Ends of months are tight enough already though without trying to find an extra few hundred quid to bank away, so kind of stuffed on that one. I'd probably need to keep working til I keeled over, which as long as I have my health would be OK with me, hate feeling useless and get bored quickly if I'm not occupied
I sold my business and 'retired' at 49, thinking it was going to be the answer to all my prayers. Two years down the line and I'm getting very bored, especially during the winter months. My wife gave up work when our first was born and she seems to handle doing nob all very well, though I guess it helps that she has a good daytime social scene, whereas my mates are still working. The limiting factor is that our kids are still at school, so extensive travel is not an option yet and as much as I enjoy a range of leisure pursuits I miss 'doing something' to bring home the bacon. At the end of my compromise agreement I can see myself jumping back on the train I couldn't wait to get off, bizarre!
Each to their own, but my experience is that retirement, or at least early retirement, takes a lot more adjustment than you might think.
Each to their own, but my experience is that retirement, or at least early retirement, takes a lot more adjustment than you might think.
King Herald said:
For the best part of the last 25 years I've worried what will become of me when I get too old to work. I never planned much when I was young, paid minimum amounts into a company pension in England, then left the UK when I was 30 and have spent most of the last 25 years offshore in a non-megabuck role. (We don't all earn 500 quid a day in the oil patch)
12 years ago I joined a company that actually had a pension scheme, but for the small amount I can pay in I knew it could never amount to much, come the big day.
I got married, we have two houses, one in England, we rent out, one in the Philippines that we live in. There is about 40k mortgage on the UK one, the other one is paid for, both are average '3 bed semi' prices.
So, my company is downsizing. Laying off, oil has crashed, and I finally decided to look into the figures I could expect were I to stop working at 55, which is in two months. I was pleasantly surprised to find I would take just a 50% drop in income, if I play things right. Plus we have the rental off the UK house, and I'd pay off the mortgage with some spare money we have to simplify things.
But isn't 'retirement' like a mark that your useful life has ended? I never thought like that until today, when I got the figures back from accounting. I always thought I'd try to retire early enough to enjoy the last 20+ years I have on this mortal coil, but today I suddenly feel this nauseating feeling that when I make the decision, or it is made for me, that 'it is all over', I'm on the scrap heap, working life over, that I'll truly be old.
I know it is a stupid thing to feel, but I can't seem to shake off the gloom.........
We may come back to the UK sometimes in the next few years, and I could always go back to the dead end factory job I desperately had to escape as a younger man. Now that would be really depressing.
Any views on this, or should I just stop whining and enjoy it? (if it happens)
Isn't retirement at 55 the time to do some consulting/freelance or something completely different? - are you in an area where having a UK rep for someone/something would be useful, ie a local "fixer"? Tourist business? Write some travel articles?12 years ago I joined a company that actually had a pension scheme, but for the small amount I can pay in I knew it could never amount to much, come the big day.
I got married, we have two houses, one in England, we rent out, one in the Philippines that we live in. There is about 40k mortgage on the UK one, the other one is paid for, both are average '3 bed semi' prices.
So, my company is downsizing. Laying off, oil has crashed, and I finally decided to look into the figures I could expect were I to stop working at 55, which is in two months. I was pleasantly surprised to find I would take just a 50% drop in income, if I play things right. Plus we have the rental off the UK house, and I'd pay off the mortgage with some spare money we have to simplify things.
But isn't 'retirement' like a mark that your useful life has ended? I never thought like that until today, when I got the figures back from accounting. I always thought I'd try to retire early enough to enjoy the last 20+ years I have on this mortal coil, but today I suddenly feel this nauseating feeling that when I make the decision, or it is made for me, that 'it is all over', I'm on the scrap heap, working life over, that I'll truly be old.
I know it is a stupid thing to feel, but I can't seem to shake off the gloom.........
We may come back to the UK sometimes in the next few years, and I could always go back to the dead end factory job I desperately had to escape as a younger man. Now that would be really depressing.
Any views on this, or should I just stop whining and enjoy it? (if it happens)
I always used to dread the idea of retiring but I'm 50 now and can't wait. My health isn't 100%, I've spent nearly 17 years commuting to London (about a 3 hour round trip door to door by car and train) and have so much I could be doing at home in my spare time and just can't fit everything in. I remarried 3 years ago to a woman my age and to be honest, we both want to make the most of life while we are still able to get about. I can't imagine being bored - the chance to get up in the morning when I want and do what we please seems like a dream. So many places in this country we have no time to visit, never mind spending time abroad in our favourite places. I try and write music in my spare time - the idea that I could actually have all day to work on a piece would be wonderful.
I also fancy voluntary work - I have little spare time that isn't filled now, so having the time to do something like that would be great too. I have about 21 years in my university pension and I've been buying extra AVCs for the last year. I think I can retire early at 55 - but whether I can afford to or not is another thing. Perhaps I should throw every last penny into the AVCs...
Anyway - retirement shouldn't be feared, I don't think. Use it to please yourself. See it as a gate opening to freedom from an enforced routine. Find a routine of your own choosing.
I also fancy voluntary work - I have little spare time that isn't filled now, so having the time to do something like that would be great too. I have about 21 years in my university pension and I've been buying extra AVCs for the last year. I think I can retire early at 55 - but whether I can afford to or not is another thing. Perhaps I should throw every last penny into the AVCs...
Anyway - retirement shouldn't be feared, I don't think. Use it to please yourself. See it as a gate opening to freedom from an enforced routine. Find a routine of your own choosing.
I would retire today if I could (43), but realistically between 50 and 55.
I have a performance review
soon. I have just started a list of things that piss me off about the job, im up to 19 just off the top of my head. And don't get me started on the commute due to the utter cluster fk that is London Bridge station at the moment, that will not be resolved until 2018.
Anyone bored with retirement ill swap.
I have a performance review
soon. I have just started a list of things that piss me off about the job, im up to 19 just off the top of my head. And don't get me started on the commute due to the utter cluster fk that is London Bridge station at the moment, that will not be resolved until 2018.Anyone bored with retirement ill swap.
Been retired for 14 years now and decided its time to start up a small (tiny) business for myself. No stress, well not much, get to meet lots of people and earn a few bread crumbs. When I'm not doing that I amuse myself with hobbies. Wouldn't want to go back to 'proper' work for all the tea in China! Retire and enjoy I say.
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