Enjoying Retirement

[FriedMarsBar]

TwigtheWonderkid said:

If I sold up and left London, I'd be much richer. But I can't do it. Being in London is the best thing about being retired. So much to do, so much to see, and having hit 60, free to get around.

I'm with you, I'll be sticking in London once retired, there's so much to do despite having been here 35 years already.

[alscar]

Wh00sher said:

I officially resigned on Sunday which was my last night shift. Due to holidays and swaps and the prior agreement of my team, that was also my last ever shift.

It feels real, but also a little bit like paying off the mortgage. I somehow expected it to feel more momentous than it actually did.

Congrats - and would echo your last sentence totally.On my last working day ( still from home ) I remember asking HR was I just supposed to close my laptop at 5.30 and that was it ?!
The answer was yes but given the lack of emails wishing me all the best that afternoon I actually logged off for the last time at 4pm and then went downstairs and opened a bottle of Fizz.
15 months now and still feels like holiday !

[Phil.]

CAH706 said:

Apologies if this is too much of a thread diversion

We had always planned to retire to Spain (live there for the majority of the year) but Brexit has complicated things a little.

The rules do seem to be a moving target with changes mooted for the golden visa programme but….

Question - has anyone taken residency using the non lucrative (retirement) visa option? On the face of it, it looks straightforward - prove income, take out private insurance and subject to approval you can live there for 12 months. Apply again and you get another 2 years etc

Appreciate this route isn’t the same as the golden visa route but seems to achieve my goal of being to live abroad!

Edited by CAH706 on Tuesday 28th March 14:28

You’ll get a lot of good advice on here

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[tertius]

FriedMarsBar said:

TwigtheWonderkid said:

If I sold up and left London, I'd be much richer. But I can't do it. Being in London is the best thing about being retired. So much to do, so much to see, and having hit 60, free to get around.

I'm with you, I'll be sticking in London once retired, there's so much to do despite having been here 35 years already.

I’m in SW London and been retired coming up to two years now. No plans to move anywhere else it’s brilliant - everything I need is in easy walking distance; Richmond Park for cycling is about 10 minutes ride away. I cycle almost everywhere and use the tube about once a month if that.

[TwigtheWonderkid]

tertius said:

FriedMarsBar said:

TwigtheWonderkid said:

If I sold up and left London, I'd be much richer. But I can't do it. Being in London is the best thing about being retired. So much to do, so much to see, and having hit 60, free to get around.

I'm with you, I'll be sticking in London once retired, there's so much to do despite having been here 35 years already.

I’m in SW London and been retired coming up to two years now. No plans to move anywhere else it’s brilliant - everything I need is in easy walking distance; Richmond Park for cycling is about 10 minutes ride away. I cycle almost everywhere and use the tube about once a month if that.

I cycle a lot, but also bus and tube it several times a week. Hardly drive at all now, my wife has the car. She also sources restaurant deals on Groupon and similar sites so we eat out in Central London usually once a week, very reasonably. We're off the a Greek Restaurant in the West End tomorrow evening.

[tertius]

TwigtheWonderkid said:

I cycle a lot, but also bus and tube it several times a week. Hardly drive at all now, my wife has the car. She also sources restaurant deals on Groupon and similar sites so we eat out in Central London usually once a week, very reasonably. We're off the a Greek Restaurant in the West End tomorrow evening.

Ah yes but you have your free TfL pass … I’m still a few years away from that … 😁

[AdamV12V]

alscar said:

@AdamV12V , wise financial words from you -I take it " Kermit " is still one of the 2 nice cars you have ?!

Of course

Both Kermit and the AMR Rapide are keepers now!

To be fair that does help with retirement costs. Depreciation on cars is one of the biggest expenses, so knowing that while ever we stay in this home we would never need another car, means both can be kept and only the running costs need to be considered, along with upkeep once they reach a certain age. Living in the city means mileage is low even though both are daily drivers too!

[Shnozz]

CAH706 said:

Apologies if this is too much of a thread diversion

We had always planned to retire to Spain (live there for the majority of the year) but Brexit has complicated things a little.

The rules do seem to be a moving target with changes mooted for the golden visa programme but….

Question - has anyone taken residency using the non lucrative (retirement) visa option? On the face of it, it looks straightforward - prove income, take out private insurance and subject to approval you can live there for 12 months. Apply again and you get another 2 years etc

Appreciate this route isn’t the same as the golden visa route but seems to achieve my goal of being to live abroad!

Edited by CAH706 on Tuesday 28th March 14:28

Many people have and, whilst not as simple as when the U.K. was in the EU, it seems relatively straight forward.

[alscar]

AdamV12V said:

Of course

Both Kermit and the AMR Rapide are keepers now!

To be fair that does help with retirement costs. Depreciation on cars is one of the biggest expenses, so knowing that while ever we stay in this home we would never need another car, means both can be kept and only the running costs need to be considered, along with upkeep once they reach a certain age. Living in the city means mileage is low even though both are daily drivers too!

Essential retirement planning c/o Aston You might even claim that investment potential too.

[mart 63]

[quote=CAH706]Apologies if this is too much of a thread diversion

We had always planned to retire to Spain (live there for the majority of the year) but Brexit has complicated things a little.

The rules do seem to be a moving target with changes mooted for the golden visa programme but….

Question - has anyone taken residency using the non lucrative (retirement) visa option? On the face of it, it looks straightforward - prove income, take out private insurance and subject to approval you can live there for 12 months. Apply again and you get another 2 years etc

Appreciate this route isn’t the same as the golden visa route but seems to achieve my goal of being to live abroad!

Edited by CAH706 on Tuesday 28th March 14:28

[/quote

A friend of mine took the NLV route, seemed to have no problems with it. We are playing darts later, I will find out more.

[CAH706]

mart 63 said:

CAH706 said:

Apologies if this is too much of a thread diversion

We had always planned to retire to Spain (live there for the majority of the year) but Brexit has complicated things a little.

The rules do seem to be a moving target with changes mooted for the golden visa programme but….

Question - has anyone taken residency using the non lucrative (retirement) visa option? On the face of it, it looks straightforward - prove income, take out private insurance and subject to approval you can live there for 12 months. Apply again and you get another 2 years etc

Appreciate this route isn’t the same as the golden visa route but seems to achieve my goal of being to live abroad!

Edited by CAH706 on Tuesday 28th March 14:28

[/quote

A friend of mine took the NLV route, seemed to have no problems with it. We are playing darts later, I will find out more.

Thanks very much and also to Phil & Shnozz

[OldSkoolRS]

AdamV12V said:

Living in the city means mileage is low even though both are daily drivers too!

Kind of related; I checked up on both our car/months owned, to work out our annual mileage as it's not long before I'll need to renew my insurance. I was surprised to find that we're only about 7000 miles in both cars at the current rate, which includes some longer trips in the bigger car last summer/autumn. I'd never really bothered to work it out before, though I always only claimed business mileage on my old company car, so I could have worked it out had I thought about it.

Busy day today: Sorted out a bank transfer to my sister at the branch, picked up some new number plates for my shed Ka ready for it's MOT later this week. Newly fitted wiper decided to commit suicide on the way home, so I managed to sort it out using a spare clip off the old one, drilled and fitted the number plates during a break in the rain, then gave it a quick wash. Went out for coffee with my mate to catch up as I've not seen him since before our holiday, then off out tonight to a friend's place to choose the songs we're doing next term at Rock Project. Phew.

[Silver Hammer]

Celebrating a birthday today which means I am measuring months and days to retirement rather than years, so roll on this time next year! It does seem strange at work bidding for new contracts at tender for next year that I won’t get to look after if we win them. I don’t think that I shall either miss work or find it difficult to fill my time. Before next March I will get a chance to celebrate 40 years in the business, unbroken although subject to a TUPE or two. I am going 2 years early so will bridge the gap with some 25% tax free and a small DB pension next year and a better DB pension the year after before my state pension kicks in when I am 66. All going to plan at the moment apart from the DC amounts dropping back down to where they were at the beginning of the year.

Maxwell

[loafer123]

AdamV12V said:

Well I had a rough plan on what I might need to spend, especially in the short term between retiring and hitting 55 and starting drawdown from my DC pension, which I will do at the end of this year. I have a DB pension too, which kicks in with the state pension at 67 so a long way off yet so not factored that into anything really. In terms of the last 28 months, I have pretty much hit my annual spend expectation on the head, but that wasn't a deliberate act of living to a set means, more a result of accurately knowing what I spent on everything, and on the whole just continuing to live to the same standard, and rounding up for unexpected extras.

The biggest unplanned additional extra has been electrical heating. My place has a LOT of glass and being up North it gets a tad nippy between Nov-Feb, so the electricity bills have been fruity. Annual heating jumped from £2500 a year to over £5000, and that's even after having cut down the thermostat a lot and wrapping up when I'm home alone! A cost which no-one could have forecast really, but hopefully next winter it will come down a little again.

Lifestyle, well we still eat out once or twice every weekend, although with all the free time I have become an even better home cook, so largely have become somewhat more critical of where to eat as I get grumpy paying for food that isn't as good as I can cook myself now! lol

Still run two very nice cars, live in the same home, have 3 holidays a year, totalling 4-5 weeks away. Last year we did a week in St Lucia in April, a week in Lake Garda in Sept and 3 weeks diving in remotest part of Indonesia over xmas and new year. This year, Miami last week for a week, planning a week in the Azores around Sept and then a couple of weeks diving in the Maldives over winter all being well.

I guess moving cash out of, rather than into savings each month to pay bills felt a bit disconcerting at first, but I've got used to it now. I don't feel like we've cut back, but I guess if I'm honest I am less impulsive with big purchases now. Before I might have bought a new TV, or new HiFi component or a new jacket in HN largely on a whim cos I fell in love with it and knew I could afford it anyway, whereas now I consider big purchases more carefully and usually decide I don't need whatever it is and let the urge pass. That said we just had a major overhaul of the master bathroom which was an expense that could have been avoided, but its one of those things that we derive pleasure out of at least twice every day, so no regrets on that side yet. Once I start drawdown at 55 that will nip in the bud the monthly dip into savings from then onwards.

I think the key is to just keep your head screwed on, and balance the need to live for today and enjoy life whilst you can (as it can all turn at a moments notice when you least expect it), vs ensuring that you have enough to keep on enjoying yourself for a fair while yet on the assumption that there will very likely be a several tomorrows too!

Edited by AdamV12V on Monday 27th March 16:21

You have it all worked out!

I’m intrigued as to what you are budgeting per annum as income for your lifestyle, as it is pretty close to my aim?

[GT3Manthey]

loafer123 said:

You have it all worked out!

I’m intrigued as to what you are budgeting per annum as income for your lifestyle, as it is pretty close to my aim?

Have to say I’m very intrigued too…

[Jaguar steve]

AdamV12V said:

I think the key is to just keep your head screwed on, and balance the need to live for today and enjoy life whilst you can (as it can all turn at a moments notice when you least expect it), vs ensuring that you have enough to keep on enjoying yourself for a fair while yet on the assumption that there will very likely be a several tomorrows too!

Amen to that.

[mart 63]

CAH706 said:

mart 63 said:

CAH706 said:

Apologies if this is too much of a thread diversion

We had always planned to retire to Spain (live there for the majority of the year) but Brexit has complicated things a little.

The rules do seem to be a moving target with changes mooted for the golden visa programme but….

Question - has anyone taken residency using the non lucrative (retirement) visa option? On the face of it, it looks straightforward - prove income, take out private insurance and subject to approval you can live there for 12 months. Apply again and you get another 2 years etc

Appreciate this route isn’t the same as the golden visa route but seems to achieve my goal of being to live abroad!

Edited by CAH706 on Tuesday 28th March 14:28

[/quote

A friend of mine took the NLV route, seemed to have no problems with it. We are playing darts later, I will find out more.

Thanks very much and also to Phil & Shnozz

You have to start the process from the UK, by getting in touch with the Spanish consulate. You have to get your paperwork stamped there, bank statements, pensions and other paperwork. It takes around 3 months. You need to have €32k combined for the 1st year, €82k for the 2nd and 3rd year, €82 for the 4th and 5th year. That is cash in the bank or income from the UK, or combined. After the 5 years you get your TIE. If you are found working in Spain within the 5 years, you get you visa taken off you.
Once you have your paperwork officially stamped, you start the process in Spain, either with a solicitor or a company who specialise in the process. My mate used a local company and they charged €150 each. He said solicitor's wanted around €1500 each. It gets completed within your 90 days in Spain.

[CAH706]

Mart63 - that’s really helpful and on the face of it pretty straightforward. Appreciate the time you have taken to reply.

The income from my pension is sufficient to meet the requirements, we have no criminal records etc so hopefully will be straightforward

The only complication is my wife is considering keeping on working so I think the Remote worker nomad visa would be needed in that case. Her salary is above the minimum requirement

I’m pretty pleased that there are options as I had thought Brexit had scuppered or plans

[eyebeebe]

mart 63 said:

CAH706 said:

mart 63 said:

CAH706 said:

Apologies if this is too much of a thread diversion

We had always planned to retire to Spain (live there for the majority of the year) but Brexit has complicated things a little.

The rules do seem to be a moving target with changes mooted for the golden visa programme but….

Question - has anyone taken residency using the non lucrative (retirement) visa option? On the face of it, it looks straightforward - prove income, take out private insurance and subject to approval you can live there for 12 months. Apply again and you get another 2 years etc

Appreciate this route isn’t the same as the golden visa route but seems to achieve my goal of being to live abroad!

Edited by CAH706 on Tuesday 28th March 14:28

A friend of mine took the NLV route, seemed to have no problems with it. We are playing darts later, I will find out more.

Thanks very much and also to Phil & Shnozz

You have to start the process from the UK, by getting in touch with the Spanish consulate. You have to get your paperwork stamped there, bank statements, pensions and other paperwork. It takes around 3 months. You need to have €32k combined for the 1st year, €82k for the 2nd and 3rd year, €82 for the 4th and 5th year. That is cash in the bank or income from the UK, or combined. After the 5 years you get your TIE. If you are found working in Spain within the 5 years, you get you visa taken off you.
Once you have your paperwork officially stamped, you start the process in Spain, either with a solicitor or a company who specialise in the process. My mate used a local company and they charged €150 each. He said solicitor's wanted around €1500 each. It gets completed within your 90 days in Spain.

Are you sure it‘s €82k and not €28k in years 2-5?

[mart 63]

€82K as he has just got his NLV. That is per couple.