Enjoying Retirement

Enjoying Retirement

Author
Discussion

alscar

3,969 posts

212 months

Tuesday 28th June 2022
quotequote all
GT3 , I wouldn’t stress over that 6% reduction - especially as you haven’t actually retired yet and this thread you started should be all about enjoying it !
I transferred out both my DB scheme and a supplementary DC scheme in April and June 20 respectively although the DB scheme was hedged with a money market account so the transfer into funds was over 15 months or so.
1 year later both pots were circa +17% and from
their peaks both are now circa -8%.
From original pot/s the current return overall is around +5% / + 10%.
Even with no doubt “ sub conscious “ thoughts , 6 months into retirement still zero doubts about decision and still feels very much like a holiday !

wong

1,276 posts

215 months

Tuesday 28th June 2022
quotequote all
alscar said:
Even with no doubt “ sub conscious “ thoughts , 6 months into retirement still zero doubts about decision and still feels very much like a holiday !
I retired almost 3 years ago and it still feels like a holiday. Don't miss "going away/abroad" at all.

GT3Manthey

Original Poster:

4,428 posts

48 months

Tuesday 28th June 2022
quotequote all
alscar said:
GT3 , I wouldn’t stress over that 6% reduction - especially as you haven’t actually retired yet and this thread you started should be all about enjoying it !
I transferred out both my DB scheme and a supplementary DC scheme in April and June 20 respectively although the DB scheme was hedged with a money market account so the transfer into funds was over 15 months or so.
1 year later both pots were circa +17% and from
their peaks both are now circa -8%.
From original pot/s the current return overall is around +5% / + 10%.
Even with no doubt “ sub conscious “ thoughts , 6 months into retirement still zero doubts about decision and still feels very much like a holiday !
Reassuring post tks

GT3Manthey

Original Poster:

4,428 posts

48 months

Tuesday 28th June 2022
quotequote all
wong said:
I retired almost 3 years ago and it still feels like a holiday. Don't miss "going away/abroad" at all.
Have lowered my monthly cost expectation on holidays too .

One week on a beach in Spain will more than do

GT3Manthey

Original Poster:

4,428 posts

48 months

Tuesday 28th June 2022
quotequote all
wong said:
I retired almost 3 years ago and it still feels like a holiday. Don't miss "going away/abroad" at all.
Have lowered my monthly cost expectation on holidays too .

One week on a beach in Spain will more than do

OldSkoolRS

6,718 posts

178 months

Tuesday 28th June 2022
quotequote all
I've only been retired 6 weeks and I just had to check what day of the week it is. laugh To be fair I've been busy with car and DIY stuff, then getting packed for a little trip away later this week.

I've stopped looking at my main pension pot as I don't intend to draw down on that one until end of 2025. Just using my Navy pension and savings until then.

Monkeylegend

26,226 posts

230 months

Tuesday 28th June 2022
quotequote all
GT3Manthey said:
alscar said:
GT3 , I wouldn’t stress over that 6% reduction - especially as you haven’t actually retired yet and this thread you started should be all about enjoying it !
I transferred out both my DB scheme and a supplementary DC scheme in April and June 20 respectively although the DB scheme was hedged with a money market account so the transfer into funds was over 15 months or so.
1 year later both pots were circa +17% and from
their peaks both are now circa -8%.
From original pot/s the current return overall is around +5% / + 10%.
Even with no doubt “ sub conscious “ thoughts , 6 months into retirement still zero doubts about decision and still feels very much like a holiday !
Reassuring post tks
I never check my fund, I wait until the yearly review and deal with it then.

I find the Ostrich approach saves you stressing out.

mart 63

2,068 posts

243 months

Tuesday 28th June 2022
quotequote all
My first post on here.

We retired (sort of) in November 2020, the wife 58 me 57. We bought a villa in Spain that needed renovating, in June 2020 during lock down. So we moved over in the November, just before Brexit kicked in.
Soon as we moved over, we started renovating. It took 7 months of hard work, had a few trades in for some works. Its a big villa, lounge, dinning room, kitchen, bathroom and 2 bedrooms. Downstairs mirrors the upstairs(our living quarters) with a separate entrance. Outside is private, we are detached on a corner plot with large roof terrace with mountain and sea views. Swimming pool and a large undercover bar.
Finance wise. I have a decorating and maintenance company in the Uk that contracts to 2 county councils, we just do the paperwork here in Spain, including VAT, CIS payment's. I only take out the directors wage that i don't touch, haven't taken out any dividends since we moved over(tax reasons).
We have a couple of rental properties in to UK that cover our day to day living. We have no private pensions, but have cash savings of around 15 years of living, if things went tits up.
After renovating villa, i was going to lay by pool all summer, that lasted a week, got bored. So i took up hobbies, petanca(boules) 3 mornings a week, snooker 1 morning a week and pool 1 evening a week. The wife works a couple hours a week to get out of the house. We also go out for lunch a couple of times a week, and at least 1 evening a week, well maybe at least 2 evenings a week.



squeeam

10 posts

22 months

Tuesday 28th June 2022
quotequote all
[quote=mart 63]My first post on here.

We retired (sort of) in November 2020, the wife 58 me 57. We bought a villa in Spain that needed renovating, in June 2020 during lock down. So we moved over in the November, just before Brexit kicked in.
Soon as we moved over, we started renovating. It took 7 months of hard work, had a few trades in for some works. Its a big villa, lounge, dinning room, kitchen, bathroom and 2 bedrooms. Downstairs mirrors the upstairs(our living quarters) with a separate entrance. Outside is private, we are detached on a corner plot with large roof terrace with mountain and sea views. Swimming pool and a large undercover bar.
Finance wise. I have a decorating and maintenance company in the Uk that contracts to 2 county councils, we just do the paperwork here in Spain, including VAT, CIS payment's. I only take out the directors wage that i don't touch, haven't taken out any dividends since we moved over(tax reasons).
We have a couple of rental properties in to UK that cover our day to day living. We have no private pensions, but have cash savings of around 15 years of living, if things went tits up.
After renovating villa, i was going to lay by pool all summer, that lasted a week, got bored. So i took up hobbies, petanca(boules) 3 mornings a week, snooker 1 morning a week and pool 1 evening a week. The wife works a couple hours a week to get out of the house. We also go out for lunch a couple of times a week, and at least 1 evening a week, well maybe at least 2 evenings a week.


My first post on here. Mart63 has got it right. Well done and enjoy it.

Armitage.Shanks

2,251 posts

84 months

Tuesday 28th June 2022
quotequote all
Mart63 - sounds great and something I'm considering as I'm fed up with the UK at all levels and not least the potholed roads given this is PH! That said property prices seems to be rising in Spain over the last few years. Costa Blanca is where I want to be.

Question, did you sell your principal home in the UK so is a rented property the potential fall back plan? Also how are you finding routine medical care. My wife needed emergency treatment in Spain several years ago (heart attack - 2 x stents fitted) and that experience was wholly positive in relation to treatment and attention.

Phil.

4,755 posts

249 months

Tuesday 28th June 2022
quotequote all
I’d be interested from Mart63 to understand what he’s going to do about getting money out of his UK company now he has a Spanish residency visa. Are you just going to accept the additional tax burden or can you extract the money in another way (feel free not to share details).

Steve H

1,168 posts

223 months

Tuesday 28th June 2022
quotequote all
Really enjoying this thread and I am about 7yrs off from retiring, currently 53, the main thing I am getting from this thread is how happy we can be when strip back all of the expenses/stuff that we think we need. Maybe a lesson to learn in the pre retirement years as well.

paralla

3,528 posts

134 months

Tuesday 28th June 2022
quotequote all
I'm a bit annoyed to have missed out on the 2020/2021 bumper years for CETV transfers.

I wasn't old enough to get a DB pension transfer recommendation from a deferred pension in 2021 when I was 49 and my CETV was £1.1M.

Now that I'm 50 (IFA's PI Insurance might cover a 50 year old but not a 49 year old) the CETV is down to £900K.

DB linked to RPI is good in light of this years inflation rate but it still feels a bit like second prize.

TwigtheWonderkid

43,248 posts

149 months

Tuesday 28th June 2022
quotequote all
Phew, what a day.

Down the gym for 7:30, home by 9am, pottered about for an hour, got the tube to St Johns Wood, walked to Primrose Hill, up the hill, down the other side, wondered around Primrose Hill shops, walked down to Camden Market, had lunch of Venezuelan street food, walked along the canal to Little Venice, then along canal to Paddington, Elizabeth Line to Farringdon, walked to Holborn, then up to Kings Cross via Red Lion Sq, then got tube home.

Left at 10am, got back at 4:30. A totally unproductive day, but enjoyed it. Knackered.

mart 63

2,068 posts

243 months

Tuesday 28th June 2022
quotequote all
Armitage.Shanks said:
Mart63 - sounds great and something I'm considering as I'm fed up with the UK at all levels and not least the potholed roads given this is PH! That said property prices seems to be rising in Spain over the last few years. Costa Blanca is where I want to be.

Question, did you sell your principal home in the UK so is a rented property the potential fall back plan? Also how are you finding routine medical care. My wife needed emergency treatment in Spain several years ago (heart attack - 2 x stents fitted) and that experience was wholly positive in relation to treatment and attention.
We are in Costa Blanca. Yes villa prices are going up, they are selling within weeks on the market. There are bargains out there, but you need to be here. I'm in the process of buying another villa to renovate. Not sure if i will rent it out or sell.

We sold our main home in the UK, but its in North Wales, not down south. One of our rentals looks over a lake on the edge of a park, so we would move there if we ever needed to.

We had to get private health care, to get our residencia which is €800 a year. I had treatment last year, 15 minute wait to see doctor, got to see surgeon 4 days later and had the op the following week.

mart 63

2,068 posts

243 months

Tuesday 28th June 2022
quotequote all
Phil. said:
I’d be interested from Mart63 to understand what he’s going to do about getting money out of his UK company now he has a Spanish residency visa. Are you just going to accept the additional tax burden or can you extract the money in another way (feel free not to share details).
Not to sure yet, its a higher rate in Spain. Just had my first tax bill in Spain for around €20k earnings and it was €1k higher than it would have been in the UK. We have just got on a big frameworks contract, so the cash will be staying in the company for a while to cover wages and materials.

GT3Manthey

Original Poster:

4,428 posts

48 months

Tuesday 28th June 2022
quotequote all
TwigtheWonderkid said:
Phew, what a day.

Down the gym for 7:30, home by 9am, pottered about for an hour, got the tube to St Johns Wood, walked to Primrose Hill, up the hill, down the other side, wondered around Primrose Hill shops, walked down to Camden Market, had lunch of Venezuelan street food, walked along the canal to Little Venice, then along canal to Paddington, Elizabeth Line to Farringdon, walked to Holborn, then up to Kings Cross via Red Lion Sq, then got tube home.

Left at 10am, got back at 4:30. A totally unproductive day, but enjoyed it. Knackered.
Great day .

Sounds like you fully deserve a beer later

davidc1

1,544 posts

161 months

Tuesday 28th June 2022
quotequote all
TwigtheWonderkid said:
Phew, what a day.

Down the gym for 7:30, home by 9am, pottered about for an hour, got the tube to St Johns Wood, walked to Primrose Hill, up the hill, down the other side, wondered around Primrose Hill shops, walked down to Camden Market, had lunch of Venezuelan street food, walked along the canal to Little Venice, then along canal to Paddington, Elizabeth Line to Farringdon, walked to Holborn, then up to Kings Cross via Red Lion Sq, then got tube home.

Left at 10am, got back at 4:30. A totally unproductive day, but enjoyed it. Knackered.
I look fwd to days like these. In the past i worked in aldwych , gt ormond st , cheapside , charing cross , fleet st and canary wharf.
Will be nice to go back and wander around with no real aim. Nice stop of lunch etc...

I narrowly missed out on a db pension in my present job. I could have left in 3 or 4 years i reckon with this. The dc pension i have means i need to do another 8 to 10 ....

DT1975

460 posts

27 months

Tuesday 28th June 2022
quotequote all
I painted the shed and the garden gate today.

We're off on a cruise this Friday around the Med so got the Tux dry cleaned for the formal nights. We need a covid test before we get onboard (so test tomorrow), from what I'm hearing we'll probably catch it all over again anyway but hey ho.


TwigtheWonderkid

43,248 posts

149 months

Wednesday 29th June 2022
quotequote all
DT1975 said:
We're off on a cruise this Friday around the Med so got the Tux dry cleaned for the formal nights.
Horses for courses, but I wouldn't dream of going on any holiday where I had to pack a tie, let alone a tux.