Retiring very early (40ish)
Discussion
Really, you lucky barsteward if true...
Two people I've met via my golf club, first was was a club promoter\ band manager retired at 29, house in UK, house in South Africa and a ski chalet in St Christophe...seemed happy!
Second had just sold his business, guessing 40ish...his hobby was collecting classic Ferraris, also seemed very happy
Two people I've met via my golf club, first was was a club promoter\ band manager retired at 29, house in UK, house in South Africa and a ski chalet in St Christophe...seemed happy!
Second had just sold his business, guessing 40ish...his hobby was collecting classic Ferraris, also seemed very happy
Take a look at fire, financial independence retire early online and YouTube, there’s loads of people doing it successfully, it’s not pie in the sky, you don’t have to be earning 100,000s a year etc.
The OH and I are well on the way to retiring around 50, (or at least giving up the need to work, maybe not giving up the want to do something I enjoy Even if it’s lower paid) the biggest part is paying off the mortage
The OH and I are well on the way to retiring around 50, (or at least giving up the need to work, maybe not giving up the want to do something I enjoy Even if it’s lower paid) the biggest part is paying off the mortage
A friend of mine retired at 35 after a stressful, but successful time in the city.
He went back to work again after five years or so having spent time bringing up his kids and getting thoroughly bored. Went back to doing a part time role, consulting which seemed to suit him (not been in contact with him for several years though......)
He went back to work again after five years or so having spent time bringing up his kids and getting thoroughly bored. Went back to doing a part time role, consulting which seemed to suit him (not been in contact with him for several years though......)
I was 49…sold up and invested in property for an easier life.
One problem is that no one else I know is in the same situation, so that does present a challenge…taking up cycling and joining a gym fills the day up nicely though.
It did take some adjusting to, but it’s worked out well (so far) and looking back it was one of the best decisions I’ve made in life.
COVID has got in the way somewhat restricting travel plans etc, but that will hopefully get easier next year.
One problem is that no one else I know is in the same situation, so that does present a challenge…taking up cycling and joining a gym fills the day up nicely though.
It did take some adjusting to, but it’s worked out well (so far) and looking back it was one of the best decisions I’ve made in life.
COVID has got in the way somewhat restricting travel plans etc, but that will hopefully get easier next year.
It’s great.
You definitely need regular activities or hobbies so you have some type of routine. I’m pretty active at the gym, online learning a 2nd language and doing cooking class this year and photography next year.
Plus when travel is allowed will travel 2-3 months a year.
I could retire in my early 40s due to some commercial properties and still keep an ear to the ground in this area so may have the occasional project as well.
I’ve never looked back
You definitely need regular activities or hobbies so you have some type of routine. I’m pretty active at the gym, online learning a 2nd language and doing cooking class this year and photography next year.
Plus when travel is allowed will travel 2-3 months a year.
I could retire in my early 40s due to some commercial properties and still keep an ear to the ground in this area so may have the occasional project as well.
I’ve never looked back
I retired at 45, nearly seven years ago, although I retained a couple of non-exec directorships. I was fortunate in that the mortagges were already paid off, and I had no debt.
I got a bit bored, and had a very bad 2017, financially speaking, so I now do some consulting work.
I now make a very good living in exchange for maybe 1.5 days per week. Situation will change again in the new year, but I don't intend to go back to 'proper' work.
I got a bit bored, and had a very bad 2017, financially speaking, so I now do some consulting work.
I now make a very good living in exchange for maybe 1.5 days per week. Situation will change again in the new year, but I don't intend to go back to 'proper' work.
MrVert said:
One problem is that no one else I know is in the same situation, so that does present a challenge…
That's the bit that bothers me. I'm mostly happy with just the wife and the dogs, but do worry how isolated it would feel being retired with the only social circle 15+ years our senior.I did it at 45 and enjoyed the change for a while, especially enjoyed not having to get a train into London (or elsewhere) every day of the week.
I’d been working stupid hours before retiring and it was only really after retiring that I realised how damaging that was. However, plans of travelling the world and seeing friends and family were torpedoed by Covid.. that obviously changed things significantly.
You have no idea how annoying it is when you retire and look forward to not going in the office, only to realise that no one else is going in the office... ffs
Seriously though, one issue is that everyone around you is still working and whilst that doesn’t stop you going out on the bike etc by yourself it’s a bit of a soulless experience after a while. Drinking by myself in a bar is probably not a good idea either..
Due to Covid, I ended up investing and getting involved in a few companies, it wasn’t planned but it’s now worked out that I’m working stupid hours including weekends again - something I plan to fix in the new year. Keeps me out of the oh’ s hair..
So.. retirement hasn’t been the adventure packed extravaganza that I imagined but then my timing sucked. Although it has been good to (mostly) get involved in things that I want to, as opposed to doing things that I had to - that’s definitely a nice change.
Would I recommend retiring early? Yes, definitely
Did I think it would be better? Oh yes!
I’d been working stupid hours before retiring and it was only really after retiring that I realised how damaging that was. However, plans of travelling the world and seeing friends and family were torpedoed by Covid.. that obviously changed things significantly.
You have no idea how annoying it is when you retire and look forward to not going in the office, only to realise that no one else is going in the office... ffs
Seriously though, one issue is that everyone around you is still working and whilst that doesn’t stop you going out on the bike etc by yourself it’s a bit of a soulless experience after a while. Drinking by myself in a bar is probably not a good idea either..
Due to Covid, I ended up investing and getting involved in a few companies, it wasn’t planned but it’s now worked out that I’m working stupid hours including weekends again - something I plan to fix in the new year. Keeps me out of the oh’ s hair..
So.. retirement hasn’t been the adventure packed extravaganza that I imagined but then my timing sucked. Although it has been good to (mostly) get involved in things that I want to, as opposed to doing things that I had to - that’s definitely a nice change.
Would I recommend retiring early? Yes, definitely
Did I think it would be better? Oh yes!
NewNameNeeded said:
That's the bit that bothers me. I'm mostly happy with just the wife and the dogs, but do worry how isolated it would feel being retired with the only social circle 15+ years our senior.
Perhaps look at it as working is discretionary? Look at roles that are interesting and not full time so you've got a periodic reason to get out of the house but not the full time grind.Is it worth separately looking to have a social circle that isn't purely through work, which is what you imply?
I didn't retire but did end up having 3 or 4 years off through my mid 30's.
No directorships here so I wasn't travelling the world just normal day to day stuff. It's very easy to become aimless unless you're very disciplined, you've also got to be comfortable with the fact you're essentially useless to society in many ways.
Now back in work and hope to work for a long time doing manageable hours with little stress.
No directorships here so I wasn't travelling the world just normal day to day stuff. It's very easy to become aimless unless you're very disciplined, you've also got to be comfortable with the fact you're essentially useless to society in many ways.
Now back in work and hope to work for a long time doing manageable hours with little stress.
I think most people need something to make them feel worthwhile, give them some interaction and contact with others, whether it’s part time work or volunteering etc.
The key to me is actually really enjoying your job and doing something that gives you loads of time off to enjoy your hobbies and other stuff, whilst also working. Sort of being semi retired.
Personally i’ve no intention of retiring until I have to, which at the moment is 65 because it’s easy money and I love doing it and get loads of time off already. Seems pretty grim to be doing a job where you just want to give it up for years.
The pandemic has given me most of the last two years off and although I’ve enjoyed it, I still miss my job but it’s been a bit of an insight into what retirement would be like. Yes there’s great aspects to it but it’s not for me yet.
The key to me is actually really enjoying your job and doing something that gives you loads of time off to enjoy your hobbies and other stuff, whilst also working. Sort of being semi retired.
Personally i’ve no intention of retiring until I have to, which at the moment is 65 because it’s easy money and I love doing it and get loads of time off already. Seems pretty grim to be doing a job where you just want to give it up for years.
The pandemic has given me most of the last two years off and although I’ve enjoyed it, I still miss my job but it’s been a bit of an insight into what retirement would be like. Yes there’s great aspects to it but it’s not for me yet.
I'm hoping if everything works out to retire from oilfield in about 3-4 years. Which will put me at 45 years old. I can see the way the industry is going and thankfully it's been very good to me. If I can keep in the position I'm in for a few more years I'll be set up enough financially to leave.
But I won't stop working. It will just give me the opportunity to start again with my own business in a completely different field.
But I won't stop working. It will just give me the opportunity to start again with my own business in a completely different field.
Some interesting reads here.
My own situation:
We married in 2004, I was 51, we both moved to Skye and took part time work. Thought we had enough to live on after selling two houses and bought one.
Year later a new son arrived.
By 2009 I could see money dwindling faster than expected, I wasn't taking a pension and the part time income was less than the outgoings. This came at the same time as the financial crash, I decided I needed to get a full time job but there was very little available, the industry I'd been in was paying off staff.
Eventually found work back in the NE England, we moved back, work wasn't great but it was an income.
2012, now 59, I finally found another job, great little company, smashing group to work with, I was sad to leave in 2017 at the age of 65.
I'm now 68 and back in Scotland, miss the camaraderie of like minded people, the stress of hitting deadlines, finding solutions and the completion of a scheme.
Miss the motorsport I used to take part in but do have time to do things at home although sometimes gardening and dog walking becomes just another chore. Wife still works part time.
I've started voluntary work in the local museum for a couple of hours a week and looking to find another voluntary job somewhere maybe. I've unwittingly extended the "car collection" and need to thin it out a little, while I can carry out repairs, i find the excitement and enjoyment of doing them less now.
My own situation:
We married in 2004, I was 51, we both moved to Skye and took part time work. Thought we had enough to live on after selling two houses and bought one.
Year later a new son arrived.
By 2009 I could see money dwindling faster than expected, I wasn't taking a pension and the part time income was less than the outgoings. This came at the same time as the financial crash, I decided I needed to get a full time job but there was very little available, the industry I'd been in was paying off staff.
Eventually found work back in the NE England, we moved back, work wasn't great but it was an income.
2012, now 59, I finally found another job, great little company, smashing group to work with, I was sad to leave in 2017 at the age of 65.
I'm now 68 and back in Scotland, miss the camaraderie of like minded people, the stress of hitting deadlines, finding solutions and the completion of a scheme.
Miss the motorsport I used to take part in but do have time to do things at home although sometimes gardening and dog walking becomes just another chore. Wife still works part time.
I've started voluntary work in the local museum for a couple of hours a week and looking to find another voluntary job somewhere maybe. I've unwittingly extended the "car collection" and need to thin it out a little, while I can carry out repairs, i find the excitement and enjoyment of doing them less now.
In sure it can be done in almost any budget. In the quality of life you have and what you feel is quality will dictate this.
Like lots of people, I earn money and I spend money. I have, but due to additional income and relieved I'm buying unnecessary luxuries be that buffet houses to cars to hot tubs.
Some of these purchases can be liquidated, but ultimately it's list money that I could have kept to.. retire?
Like lots of people, I earn money and I spend money. I have, but due to additional income and relieved I'm buying unnecessary luxuries be that buffet houses to cars to hot tubs.
Some of these purchases can be liquidated, but ultimately it's list money that I could have kept to.. retire?
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