Worried about retirement
Discussion
PurpleMoonlight said:
Not financial worries, but worried that I will be bored silly all day.
I've worked since leaving school at 16. Not a workaholic but like to be in control of my life hence operating my own business for the past 22 years. I'm 55 this year.
Mind and body getting tired (unfit). People are starting to mention 'exit strategy' to me. Stupid phrase.
But what will I do with my days when I retire?
Where will I live? Can't see myself staying in the midlands to be honest. Somewhere by the sea would be nice. No family. No ties.
Could buy a motorhome and travel Europe for 5 years. Watch live GP's, Moto GP, Giro, Tour de France, etc.
Ideas?
My dad is 60 next year so has already started "prepping", he thinks easing into it is a safe bet rather than full time work right up until Friday then BAM no more work.I've worked since leaving school at 16. Not a workaholic but like to be in control of my life hence operating my own business for the past 22 years. I'm 55 this year.
Mind and body getting tired (unfit). People are starting to mention 'exit strategy' to me. Stupid phrase.
But what will I do with my days when I retire?
Where will I live? Can't see myself staying in the midlands to be honest. Somewhere by the sea would be nice. No family. No ties.
Could buy a motorhome and travel Europe for 5 years. Watch live GP's, Moto GP, Giro, Tour de France, etc.
Ideas?
He'll be reducing the days he works I believe over the next couple of years and my parents have just bought a large motorhome to travel around Europe in.
I've often heard retired family members and colleagues say they never knew how they had time to work once they get into a retirement routine!
Just don't sit at home doing nothing, I imagine that can happen easily and you get stuck in a rut.
keep active.
Start a small business that doesn't need fulltime commitment?
A friend sold his business but kept a workshop, buys car imports from Japan , works on them when he wants and sells them on at a small profit, no employees so no pressure.
I'm planning to do housebuilds in the same way. One at a time on land I already own , doesn't matter if they take a few months or a few years per house.
Key (for me at least) is do something that there's no pressure/ fixed timetable.
A friend sold his business but kept a workshop, buys car imports from Japan , works on them when he wants and sells them on at a small profit, no employees so no pressure.
I'm planning to do housebuilds in the same way. One at a time on land I already own , doesn't matter if they take a few months or a few years per house.
Key (for me at least) is do something that there's no pressure/ fixed timetable.
condor said:
You could set up your own business around something that interests you.
I'm semi-retired and set up a pet sitting/dog walking business because I love animals.
This is what I am doing. Not dog sitting but turned my interest hobby into a little part time effort. Vintage car wedding hire, it helps keep the old grey matter ticking over without the pressures of a real business, I'm semi-retired and set up a pet sitting/dog walking business because I love animals.
TIP : don't spend too much time on pistonheads arguing on pointless threads like I seem to do
Edited by crankedup on Thursday 26th May 10:41
vanordinaire said:
Start a small business that doesn't need fulltime commitment?
A friend sold his business but kept a workshop, buys car imports from Japan , works on them when he wants and sells them on at a small profit, no employees so no pressure.
I'm planning to do housebuilds in the same way. One at a time on land I already own , doesn't matter if they take a few months or a few years per house.
Key (for me at least) is do something that there's no pressure/ fixed timetable.
Very much this. A friend sold his business but kept a workshop, buys car imports from Japan , works on them when he wants and sells them on at a small profit, no employees so no pressure.
I'm planning to do housebuilds in the same way. One at a time on land I already own , doesn't matter if they take a few months or a few years per house.
Key (for me at least) is do something that there's no pressure/ fixed timetable.
Semi-retirement is a far more attractive option if you can do something that interests you, but on your own terms.
GAjon said:
I've had a motor home, and am now missing it.
My plan for retirement in a MH is around the coast of the U.K. & Ireland. Then costal around Western Europe including Scandinavia.
Only popping inland for whatever race series in the vicinity.
My plan for retirement in a MH is around the coast of the U.K. & Ireland. Then costal around Western Europe including Scandinavia.
Only popping inland for whatever race series in the vicinity.
PurpleMoonlight said:
This does appeal a lot, hence the motorhome idea.
Providing I can get UK TV via satellite and internet access of course. Following Europe all around the coast nipping inland for sporting events.
Wonder if it's better to buy in UK or abroad?
Problem solved, sounds like you'll be very happy together Providing I can get UK TV via satellite and internet access of course. Following Europe all around the coast nipping inland for sporting events.
Wonder if it's better to buy in UK or abroad?
FrankAbagnale said:
Give me a motorhome stocked full of booze, a sky dish, a set of golf clubs and a big list of European F1/Moto GP/major sports events and i'd be the happiest man in the world.
It does sound idyllic but there are lots of practical things to consider, most importantly how do you insure it without a permanent address? I think that you need an address in the uk for insurance purposes that is the same as the registered address for the vehicle, not 100% certain on this but it sounds right.
I also think it may be difficult to buy 365 days of European cover, some insurers will give 6 months. Need the services of a good insurance broker for that one.
I also think it may be difficult to buy 365 days of European cover, some insurers will give 6 months. Need the services of a good insurance broker for that one.
Robbo 27 said:
I think that you need an address in the uk for insurance purposes that is the same as the registered address for the vehicle, not 100% certain on this but it sounds right.
I also think it may be difficult to buy 365 days of European cover, some insurers will give 6 months. Need the services of a good insurance broker for that one.
I think it is a problem too - I live in Norway and due to the costs of cars here I was considering getting an ariel Atom from the UK for a short term and occasionally driving it on trade plates. However it was going to be an issue because it wouldn't be registered in Norway so Norwegian insurance companies weren't interested, and since I don't have a UK address British companies wouldn't insure it/me.I also think it may be difficult to buy 365 days of European cover, some insurers will give 6 months. Need the services of a good insurance broker for that one.
FrankAbagnale said:
Give me a motorhome stocked full of booze, a sky dish, a set of golf clubs a dog and a big list of European F1/Moto GP/major sports events and i'd be the happiest man in the world.
Other question is would you have the money for this? F1 is over £100 for a few days, then have petrol, living costs, etc. It's easy to say these things would be ideal, but it's a question of affording it for say 30 years too.
Currently 40 and really considering "retirement" too - like one of the posters above, I'm "bored" with working.
I'm pretty sure I wouldn't be bored - part of the decision is that I don't have enough time to get everything else done now... I have several years worth of projects that need starting, or have been started but not finished.
I'd definitely be looking for something else part time - sadly not many people want to want experienced IT techs (Solution Architect/Infrastructure Designer) on a part time basis!
I'm pretty sure I wouldn't be bored - part of the decision is that I don't have enough time to get everything else done now... I have several years worth of projects that need starting, or have been started but not finished.
I'd definitely be looking for something else part time - sadly not many people want to want experienced IT techs (Solution Architect/Infrastructure Designer) on a part time basis!
If I didn't want to work and had a few quid and no ties I would be selling up, packing a few essentials and f
king off.
Hide a few emergency quid in the UK and book a flight. Then just train and fly around, rent a place somewhere you like and move when bored. Also practice every legal sexual deviance you fancy.
With regard to the motor home thing there are some specialists expat insurance brokers that I am sure can help.
Personally I favour a semi-retirement method. Just aim to set yourself up so that if you don't want to work you don't. Find someone you trust to handle stuff you don't want and do the stuff you do.
king off. Hide a few emergency quid in the UK and book a flight. Then just train and fly around, rent a place somewhere you like and move when bored. Also practice every legal sexual deviance you fancy.
With regard to the motor home thing there are some specialists expat insurance brokers that I am sure can help.
Personally I favour a semi-retirement method. Just aim to set yourself up so that if you don't want to work you don't. Find someone you trust to handle stuff you don't want and do the stuff you do.
Can you not 'wind down' into retirement?
Rather than just leave on a particular Friday, never to return, try reducing your days ( if allowed) over a longish period of time. Say 6 months of 3 days, reducing to 2 for another six months then zero.
Gives you a chance to find hobbies and interests while keeping in with the work crowd and it isn't so much of a shock when you finally give the boss a two fingered salute.
Rather than just leave on a particular Friday, never to return, try reducing your days ( if allowed) over a longish period of time. Say 6 months of 3 days, reducing to 2 for another six months then zero.
Gives you a chance to find hobbies and interests while keeping in with the work crowd and it isn't so much of a shock when you finally give the boss a two fingered salute.
valiant said:
Can you not 'wind down' into retirement?
Rather than just leave on a particular Friday, never to return, try reducing your days ( if allowed) over a longish period of time. Say 6 months of 3 days, reducing to 2 for another six months then zero.
Gives you a chance to find hobbies and interests while keeping in with the work crowd and it isn't so much of a shock when you finally give the boss a two fingered salute.
Personally if/when I do retire I think I would prefer to be working one day and retired the next, but I suspect it will depend on how I dispose of the business.Rather than just leave on a particular Friday, never to return, try reducing your days ( if allowed) over a longish period of time. Say 6 months of 3 days, reducing to 2 for another six months then zero.
Gives you a chance to find hobbies and interests while keeping in with the work crowd and it isn't so much of a shock when you finally give the boss a two fingered salute.
There's a lot of people are keen to retire BUT once they do they start to regret it. Or their partner does!
I'm 63, fit and healthy but have seen/am seeing a few friends with serious health worries. One in Paliative care...
Wife wants me to retire, but with a 10 year old son and expensive hobbies I worry I'll have to seriously cut expenses somewhere.
And I work with some great lads but the work is starting to really grind me down over the last few weeks
I'm 63, fit and healthy but have seen/am seeing a few friends with serious health worries. One in Paliative care...
Wife wants me to retire, but with a 10 year old son and expensive hobbies I worry I'll have to seriously cut expenses somewhere.
And I work with some great lads but the work is starting to really grind me down over the last few weeks
I'd agree with most of the other posters on here. I used to have a motorhome and went all round Europe in it for weeks at a time, very enjoyable indeed. A house move (downsizing), but staying based in the UK, meant that the motorhome had to go but I may well get another before long and I'll then go off abroad for 1-2 months at a time.
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