when to retire
Discussion
I intend to retire when I am entitled to a state pension either 65 or 66, or earlier if I can afford to. I know lots of people between 67 yrs and 78 yrs who still work at least 40 hours a week . they do not need to as they are quite well off -- so why do people still work at these ages.
p4pedro said:
I intend to retire when I am entitled to a state pension either 65 or 66, or earlier if I can afford to. I know lots of people between 67 yrs and 78 yrs who still work at least 40 hours a week . they do not need to as they are quite well off -- so why do people still work at these ages.
Little else to do perhaps? A lot of people like working because it keeps the mind active and it can often be a very social activity.Lots of reasons, I expect.
If the mortgage is not yet paid off and/or the occupational pension is small they might have to.
Neither applied to me. I retired at 58 but quickly got bored. Hence 8 years at BCA, part-time, driving cars & vans around. I also mark exams and do tutoring and I'll keep on doing that because, the pay is quite good, I'm good at it, I enjoy it, hours are flexible and it's good for keeping the brain active.
If the mortgage is not yet paid off and/or the occupational pension is small they might have to.
Neither applied to me. I retired at 58 but quickly got bored. Hence 8 years at BCA, part-time, driving cars & vans around. I also mark exams and do tutoring and I'll keep on doing that because, the pay is quite good, I'm good at it, I enjoy it, hours are flexible and it's good for keeping the brain active.
DrTre said:
Little else to do perhaps? A lot of people like working because it keeps the mind active and it can often be a very social activity.
This is a good reason to carry on working at least part time. Certainly keeping the old grey matter functioning.Then of course they might be married and the thought of spending all day everyday with their OHs..........................
I retired at 54 and haven't regretted it one bit. I was thoroughly fed up with airports, planes and hotel rooms!!
I'm 60 in a couple of weeks and am disappointed to find out I'm not eligible for a bus pass until 2015. Apart from that, I pretty much lead a stress free life. I'd recommend it.
I'm 60 in a couple of weeks and am disappointed to find out I'm not eligible for a bus pass until 2015. Apart from that, I pretty much lead a stress free life. I'd recommend it.
Chris_H said:
I retired at 54 and haven't regretted it one bit. I was thoroughly fed up with airports, planes and hotel rooms!!
I'm 60 in a couple of weeks and am disappointed to find out I'm not eligible for a bus pass until 2015. Apart from that, I pretty much lead a stress free life. I'd recommend it.
Plus one. Left full time employment at 48, started my own business which was not like work at all because I was in charge of myself. Gave it up totally at 53 and love the freedom. Go for it if you can - happiness is a state in your mind.I'm 60 in a couple of weeks and am disappointed to find out I'm not eligible for a bus pass until 2015. Apart from that, I pretty much lead a stress free life. I'd recommend it.
My personal take is never to retire. Evidently you do not need to put in a 70 hour week at 70 but the idea of life being a sort of extended golf and gardening holiday is nightmarish. Additionally the extra time can be expensive to fill with new hobbies unless your idea of fun is walking and watching the tube. Currently I consult about four months a year and am on the boards of a couple of social media startups that are going well,plus thinking of getting involved in an E heakth company. I write for a couple of car magazines and test the odd car. That leaves more than enough time to pursue leisure activities.
I love my job, but I don't want to do it forever. That's good news, because the law prevents me from doing so. But, I do look forward to taking a well-earned break for a couple of years, prior to doing something that interests me, part time.
Cometh the time, (fingers crossed, of course) I shouldn't have any significant financial concerns about retiring, but I would have to have a keen interest to pursue, or a part-time job. Sadly, my skill set is rather narrow, so who knows what said job would be. Conversely, as long as I enjoyed it, and it kept the mind active, I dont suppose I'd care. I couldn't be sat around doing nothing for decades, it'd tip me over the edge.
My retirement will come after a career of much time away from my wife, albeit in short stints. Consequently, the most important factor in deciding how best to occupy my time will be ensuring that we are able to spend our time together, uninterrupted.
Cometh the time, (fingers crossed, of course) I shouldn't have any significant financial concerns about retiring, but I would have to have a keen interest to pursue, or a part-time job. Sadly, my skill set is rather narrow, so who knows what said job would be. Conversely, as long as I enjoyed it, and it kept the mind active, I dont suppose I'd care. I couldn't be sat around doing nothing for decades, it'd tip me over the edge.
My retirement will come after a career of much time away from my wife, albeit in short stints. Consequently, the most important factor in deciding how best to occupy my time will be ensuring that we are able to spend our time together, uninterrupted.
I "retired" three years ago after having a car repair business for 24yrs (I`m 65).I was very glad to get away from all the responsibility of being an employer,owner, bill payer,tax collector, etc etc but had no intention of just doing nothing or pottering around the house.I`m fortunate to have a nice discreet workshop at home where I look after the cars of a small group of my favorite regular customers.Just regular servicing on nice cars that I know (no crap) that produces two to three jobs a week.Its great,keeps me active and in contact with customers and trader friends but with no pressure or responsibility,plenty of time for holidays and weekends away with my classic car.I don`t have to do it for the money (but its very handy)I do it because I enjoy it,as long as I`m fit and healthy I intend to keep this up for a few years to come.
I sold up age 33, took four years off got bored and started a business again, now I'm 45 I sell up again this month and have no idea if I'll work again or not.
If you can fill your days, can afford to stop working (retirement is expensive) then why not do it sooner rather than later, you can always go back to work if want to.
Retired or not contentment is the key.
If you can fill your days, can afford to stop working (retirement is expensive) then why not do it sooner rather than later, you can always go back to work if want to.
Retired or not contentment is the key.
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