Enjoying Retirement
Discussion
TwigtheWonderkid said:
It appears this thread shows the differing opinions of the two camps. On the one hand, RDMcG and the like, who enjoy their jobs. Why retire from something you'd do as a hobby anyway, when someone is paying you to do it.
And people like me, who don't really like their job, or who used to like it but now, not so much. I suspect most of the working population are in my camp. Fortunately retirement isn't compulsory. But unfortunately, for many people not as lucky as I was (got out last year aged 58), carrying on working is.
For so many eventually their job becomes mundane and they look or the exit . And people like me, who don't really like their job, or who used to like it but now, not so much. I suspect most of the working population are in my camp. Fortunately retirement isn't compulsory. But unfortunately, for many people not as lucky as I was (got out last year aged 58), carrying on working is.
I remember my 20’s & 30’s where life at work was almost one big party . Now going out till silly o’clock doesn’t appeal & the business is full of red tape as are most.
I’d say most carry on working just for the routine
TwigtheWonderkid said:
And people like me, who don't really like their job, or who used to like it but now, not so much. I suspect most of the working population are in my camp. Fortunately retirement isn't compulsory. But unfortunately, for many people not as lucky as I was (got out last year aged 58), carrying on working is.
Totally agree, there was on place I had to work in a year or so, I even hated my profession big time. I was lucky/fortunate enough to change employers, later massive change. This was 10 years ago of course. Not everyone can do that change easily, loads of parameters involved.anonymous said:
[redacted]
Getting them on the house ladder worries me too,My eldest graduated the first year of covid, when there were no graduate schemes, but has since found a role in the city through luck and saves money each month for a deposit.
He needs £50k in deposit really, and I have joked about giving/loaning him the money, but he wants to do it himself.
Early retirement land update. (56 years young and 9 years in)
Gorgeous day. I spent the morning doing online stuff for my daughters flat buying episode and catching up on some banking, Investments etc. Amazingly our Vanguard VLS60 S&S ISA's are bouncing back in a remarkable manner despite Putins best attempt at stifling it.
The rest of the day was spent replacing the pump in our garden pond and rewiring it. With that sorted we took the dog for a long walk over the local heathland to watch the sun set over Purbeck. I then did an hour on the turbo trainer and am now enjoying a beer...or two.
My better half has also entered early retirement and the recent drawdown of my 1981/ 87 DB pension is covering her wages nicely, she's still on gardening leave so a little bonus for the next few months.
Gorgeous day. I spent the morning doing online stuff for my daughters flat buying episode and catching up on some banking, Investments etc. Amazingly our Vanguard VLS60 S&S ISA's are bouncing back in a remarkable manner despite Putins best attempt at stifling it.
The rest of the day was spent replacing the pump in our garden pond and rewiring it. With that sorted we took the dog for a long walk over the local heathland to watch the sun set over Purbeck. I then did an hour on the turbo trainer and am now enjoying a beer...or two.
My better half has also entered early retirement and the recent drawdown of my 1981/ 87 DB pension is covering her wages nicely, she's still on gardening leave so a little bonus for the next few months.
I am 4 weeks in to my retirement and still finding myself laughing in disbelief at the sense of freedom.
The weather has been wonderful so lots of pottering around outdoors this week. Grass cut. Compost material shredded. Wood split. Patio pressure washed and the garden furniture set up. This afternoon an oil and filter change on the tractor and tinkering under the Touareg. All done without having to rush or check work emails. Absolutely loving it. My mind is relaxed and I am living in the moment and not worrying about work.
Funds-wise I will give myself £1,000 per month pocket money. This is funded from my annual capital gains tax free allowance - ie every tax year I will sell ~£12,000 of equities tax-free and that will be my pocket money for the next 12 months.
The weather has been wonderful so lots of pottering around outdoors this week. Grass cut. Compost material shredded. Wood split. Patio pressure washed and the garden furniture set up. This afternoon an oil and filter change on the tractor and tinkering under the Touareg. All done without having to rush or check work emails. Absolutely loving it. My mind is relaxed and I am living in the moment and not worrying about work.
Funds-wise I will give myself £1,000 per month pocket money. This is funded from my annual capital gains tax free allowance - ie every tax year I will sell ~£12,000 of equities tax-free and that will be my pocket money for the next 12 months.
Hereward said:
I am 4 weeks in to my retirement and still finding myself laughing in disbelief at the sense of freedom.
The weather has been wonderful so lots of pottering around outdoors this week. Grass cut. Compost material shredded. Wood split. Patio pressure washed and the garden furniture set up. This afternoon an oil and filter change on the tractor and tinkering under the Touareg. All done without having to rush or check work emails. Absolutely loving it. My mind is relaxed and I am living in the moment and not worrying about work.
Funds-wise I will give myself £1,000 per month pocket money. This is funded from my annual capital gains tax free allowance - ie every tax year I will sell ~£12,000 of equities tax-free and that will be my pocket money for the next 12 months.
Brilliant and welcome to the club. I'm planning on starting to extend the garden pond tomorrow, it will probably take me a few weeks as no urgency to rush it of course. There will be plenty of sitting there studiously studying said pond and consuming large quantities of tea as I work out my 'master plan'. The weather has been wonderful so lots of pottering around outdoors this week. Grass cut. Compost material shredded. Wood split. Patio pressure washed and the garden furniture set up. This afternoon an oil and filter change on the tractor and tinkering under the Touareg. All done without having to rush or check work emails. Absolutely loving it. My mind is relaxed and I am living in the moment and not worrying about work.
Funds-wise I will give myself £1,000 per month pocket money. This is funded from my annual capital gains tax free allowance - ie every tax year I will sell ~£12,000 of equities tax-free and that will be my pocket money for the next 12 months.
Ordinarily I have no idea of what day it is :-)
Hereward said:
I am 4 weeks in to my retirement and still finding myself laughing in disbelief at the sense of freedom.
The weather has been wonderful so lots of pottering around outdoors this week. Grass cut. Compost material shredded. Wood split. Patio pressure washed and the garden furniture set up. This afternoon an oil and filter change on the tractor and tinkering under the Touareg. All done without having to rush or check work emails. Absolutely loving it. My mind is relaxed and I am living in the moment and not worrying about work.
Funds-wise I will give myself £1,000 per month pocket money. This is funded from my annual capital gains tax free allowance - ie every tax year I will sell ~£12,000 of equities tax-free and that will be my pocket money for the next 12 months.
Sounds like you’re loving life - good to hear .The weather has been wonderful so lots of pottering around outdoors this week. Grass cut. Compost material shredded. Wood split. Patio pressure washed and the garden furniture set up. This afternoon an oil and filter change on the tractor and tinkering under the Touareg. All done without having to rush or check work emails. Absolutely loving it. My mind is relaxed and I am living in the moment and not worrying about work.
Funds-wise I will give myself £1,000 per month pocket money. This is funded from my annual capital gains tax free allowance - ie every tax year I will sell ~£12,000 of equities tax-free and that will be my pocket money for the next 12 months.
So £1000 a month spending money is great .
How about running costs , what do the amount to on a monthly basis may I ask ?
GT3Manthey said:
Hereward said:
I am 4 weeks in to my retirement and still finding myself laughing in disbelief at the sense of freedom.
The weather has been wonderful so lots of pottering around outdoors this week. Grass cut. Compost material shredded. Wood split. Patio pressure washed and the garden furniture set up. This afternoon an oil and filter change on the tractor and tinkering under the Touareg. All done without having to rush or check work emails. Absolutely loving it. My mind is relaxed and I am living in the moment and not worrying about work.
Funds-wise I will give myself £1,000 per month pocket money. This is funded from my annual capital gains tax free allowance - ie every tax year I will sell ~£12,000 of equities tax-free and that will be my pocket money for the next 12 months.
Sounds like you’re loving life - good to hear .The weather has been wonderful so lots of pottering around outdoors this week. Grass cut. Compost material shredded. Wood split. Patio pressure washed and the garden furniture set up. This afternoon an oil and filter change on the tractor and tinkering under the Touareg. All done without having to rush or check work emails. Absolutely loving it. My mind is relaxed and I am living in the moment and not worrying about work.
Funds-wise I will give myself £1,000 per month pocket money. This is funded from my annual capital gains tax free allowance - ie every tax year I will sell ~£12,000 of equities tax-free and that will be my pocket money for the next 12 months.
So £1000 a month spending money is great .
How about running costs , what do the amount to on a monthly basis may I ask ?
FWIW (not a lot, we're all different!), I reckon our *fixed* outgoings are under £800pcm.
Add to that cars (est £250pcm, excl replacement costs), food (under £500) & the rest is entertainments & gadgets (evenings out, holidays)...
I do appreciate the school costs - put ours through that whilst I was working - but for Uni, we paid accommodation & a few treats & let them live on the student loans. Out of that now (phew!). Still help with some savings for them, but they are earning now, so less stress....
How do yours shape up?
Monkeylegend said:
Best time of year to retire.
Do not retire just in time for the winter months.
Fully agree usually the best time to retire, though where I worked bonuses were paid at the end of August so resignations were handed in on 1st September which meant leaving on 1st December.Do not retire just in time for the winter months.
I’d agree with the sentiment about stopping work around this time of year, unless you have something to dive into,to keep you busy.
I stopped in October 2017 aged 49…had just extended the old house but had to fit out a kitchen / living space so that gave me my first project, which took me through to after Xmas. Really enjoyed getting stuck in and doing something practical.
I had two years before COVID hit, spent the time split between bike riding, walking the (new) dog, road trips in the cars, bit of travelling, purchasing some properties and refurbishing them. Learnt a few new skills along the way. All in all, after running a busy company for nearly 20 years, I did not miss it for a single moment.
As covid hit, we finished off the bits in the house that needed doing as we’d seen a barn conversion in the country that we just had to have. Sold the old house immediately and secured the barn, although it took until Feb 2021 to complete.
So now, we’re out in the sticks on the edge of a village. Walks and cycle rides all around us. The barn is immaculate and doesn’t need anything doing to it, so I’m now looking for a new project for this year. Thinking of buying and restoring a classic car, something I’ve always wanted to do.
Yesterday, up early, dog walk over the fields, back for a coffee in the sun…sorted out the bike for a ride later today. Plan on doing at least 20 miles each day from now on….weather dependent
Gratuitous photo of the countryside around us, you can just about make out our place in the distance.
I feel very fortunate to be in this position, but worked my arse off for 30 years to get to where I am. I’m glad I bit the bullet when I did, I could have gone on for another few years, made some more money etc etc, but I did the sums, decided I had enough to do what I wanted to do and took the jump.
If you can do it, without too much of a struggle lifestyle-wise, then go for it. You’ll not regret it.
I stopped in October 2017 aged 49…had just extended the old house but had to fit out a kitchen / living space so that gave me my first project, which took me through to after Xmas. Really enjoyed getting stuck in and doing something practical.
I had two years before COVID hit, spent the time split between bike riding, walking the (new) dog, road trips in the cars, bit of travelling, purchasing some properties and refurbishing them. Learnt a few new skills along the way. All in all, after running a busy company for nearly 20 years, I did not miss it for a single moment.
As covid hit, we finished off the bits in the house that needed doing as we’d seen a barn conversion in the country that we just had to have. Sold the old house immediately and secured the barn, although it took until Feb 2021 to complete.
So now, we’re out in the sticks on the edge of a village. Walks and cycle rides all around us. The barn is immaculate and doesn’t need anything doing to it, so I’m now looking for a new project for this year. Thinking of buying and restoring a classic car, something I’ve always wanted to do.
Yesterday, up early, dog walk over the fields, back for a coffee in the sun…sorted out the bike for a ride later today. Plan on doing at least 20 miles each day from now on….weather dependent
Gratuitous photo of the countryside around us, you can just about make out our place in the distance.
I feel very fortunate to be in this position, but worked my arse off for 30 years to get to where I am. I’m glad I bit the bullet when I did, I could have gone on for another few years, made some more money etc etc, but I did the sums, decided I had enough to do what I wanted to do and took the jump.
If you can do it, without too much of a struggle lifestyle-wise, then go for it. You’ll not regret it.
mikeiow said:
That's a rough thing to be thinking about at 4 in the morning
FWIW (not a lot, we're all different!), I reckon our *fixed* outgoings are under £800pcm.
Add to that cars (est £250pcm, excl replacement costs), food (under £500) & the rest is entertainments & gadgets (evenings out, holidays)...
I do appreciate the school costs - put ours through that whilst I was working - but for Uni, we paid accommodation & a few treats & let them live on the student loans. Out of that now (phew!). Still help with some savings for them, but they are earning now, so less stress....
How do yours shape up?
Hi Mike . FWIW (not a lot, we're all different!), I reckon our *fixed* outgoings are under £800pcm.
Add to that cars (est £250pcm, excl replacement costs), food (under £500) & the rest is entertainments & gadgets (evenings out, holidays)...
I do appreciate the school costs - put ours through that whilst I was working - but for Uni, we paid accommodation & a few treats & let them live on the student loans. Out of that now (phew!). Still help with some savings for them, but they are earning now, so less stress....
How do yours shape up?
School fees like you will be done when I retire so it’s spending money & running costs too .
It sounds ludicrous but including spending money & all in costs I’ve budgeted for a 5k per month draw down .
I can’t see us needing that for many years once youngest has finished uni but it just might involve the running costs of a house and a flat or say 10 years till we sort finances for kids housing .
Plan might be to buy the kids a place each and we live at the flat which we are both up for but always with access to the house too. Sounds a little complicated I know but I’ve got it worked out in my head !
It essentially means the kids get inheritance upfront.
Chances are I’ll work part time and see how we go is the plan .
I think if we execute the ‘plan’ within 10yrs our monthly all in costs will be around 2k a month assuming the kids are then self sufficient.
So essentially we are front loading the pension/drawdown
MrVert said:
I’d agree with the sentiment about stopping work around this time of year, unless you have something to dive into,to keep you busy.
I stopped in October 2017 aged 49…had just extended the old house but had to fit out a kitchen / living space so that gave me my first project, which took me through to after Xmas. Really enjoyed getting stuck in and doing something practical.
I had two years before COVID hit, spent the time split between bike riding, walking the (new) dog, road trips in the cars, bit of travelling, purchasing some properties and refurbishing them. Learnt a few new skills along the way. All in all, after running a busy company for nearly 20 years, I did not miss it for a single moment.
As covid hit, we finished off the bits in the house that needed doing as we’d seen a barn conversion in the country that we just had to have. Sold the old house immediately and secured the barn, although it took until Feb 2021 to complete.
So now, we’re out in the sticks on the edge of a village. Walks and cycle rides all around us. The barn is immaculate and doesn’t need anything doing to it, so I’m now looking for a new project for this year. Thinking of buying and restoring a classic car, something I’ve always wanted to do.
Yesterday, up early, dog walk over the fields, back for a coffee in the sun…sorted out the bike for a ride later today. Plan on doing at least 20 miles each day from now on….weather dependent
Gratuitous photo of the countryside around us, you can just about make out our place in the distance.
I feel very fortunate to be in this position, but worked my arse off for 30 years to get to where I am. I’m glad I bit the bullet when I did, I could have gone on for another few years, made some more money etc etc, but I did the sums, decided I had enough to do what I wanted to do and took the jump.
If you can do it, without too much of a struggle lifestyle-wise, then go for it. You’ll not regret it.
You made a lovely job of that kitchen nice one . I stopped in October 2017 aged 49…had just extended the old house but had to fit out a kitchen / living space so that gave me my first project, which took me through to after Xmas. Really enjoyed getting stuck in and doing something practical.
I had two years before COVID hit, spent the time split between bike riding, walking the (new) dog, road trips in the cars, bit of travelling, purchasing some properties and refurbishing them. Learnt a few new skills along the way. All in all, after running a busy company for nearly 20 years, I did not miss it for a single moment.
As covid hit, we finished off the bits in the house that needed doing as we’d seen a barn conversion in the country that we just had to have. Sold the old house immediately and secured the barn, although it took until Feb 2021 to complete.
So now, we’re out in the sticks on the edge of a village. Walks and cycle rides all around us. The barn is immaculate and doesn’t need anything doing to it, so I’m now looking for a new project for this year. Thinking of buying and restoring a classic car, something I’ve always wanted to do.
Yesterday, up early, dog walk over the fields, back for a coffee in the sun…sorted out the bike for a ride later today. Plan on doing at least 20 miles each day from now on….weather dependent
Gratuitous photo of the countryside around us, you can just about make out our place in the distance.
I feel very fortunate to be in this position, but worked my arse off for 30 years to get to where I am. I’m glad I bit the bullet when I did, I could have gone on for another few years, made some more money etc etc, but I did the sums, decided I had enough to do what I wanted to do and took the jump.
If you can do it, without too much of a struggle lifestyle-wise, then go for it. You’ll not regret it.
Like you I want to busy myself thou my practical skill are somewhat limited !
Nonetheless having time to attempt them is what’s important .
My post above gives some insight into our plans.
We think that living in the flat when it’s just the two of us with a sea view and little expenses and issues might be the way forward .
Mothers day..its a Sunday so I guess not treated differently for those working / retired folk.
I popped around my mums this morning (I'm one of four ) and the rest are spoiling her rotten for the rest of the day.
The afternoon was spent expanding the raised fishpond in absolutely glorious weather......my daughters are around so dinner was a Thai takeaway for the better half, her favourite.
Tomorrow is golf with my brother, Tuesday a trip to sunny Weymouth, Wednesday a trip to London to help my daughter move out of her flat . I'll need a rest by Thursday :-)
I popped around my mums this morning (I'm one of four ) and the rest are spoiling her rotten for the rest of the day.
The afternoon was spent expanding the raised fishpond in absolutely glorious weather......my daughters are around so dinner was a Thai takeaway for the better half, her favourite.
Tomorrow is golf with my brother, Tuesday a trip to sunny Weymouth, Wednesday a trip to London to help my daughter move out of her flat . I'll need a rest by Thursday :-)
DT1975 said:
Mothers day..its a Sunday so I guess not treated differently for those working / retired folk.
I popped around my mums this morning (I'm one of four ) and the rest are spoiling her rotten for the rest of the day.
The afternoon was spent expanding the raised fishpond in absolutely glorious weather......my daughters are around so dinner was a Thai takeaway for the better half, her favourite.
Tomorrow is golf with my brother, Tuesday a trip to sunny Weymouth, Wednesday a trip to London to help my daughter move out of her flat . I'll need a rest by Thursday :-)
Sounds a perfect week TBH I popped around my mums this morning (I'm one of four ) and the rest are spoiling her rotten for the rest of the day.
The afternoon was spent expanding the raised fishpond in absolutely glorious weather......my daughters are around so dinner was a Thai takeaway for the better half, her favourite.
Tomorrow is golf with my brother, Tuesday a trip to sunny Weymouth, Wednesday a trip to London to help my daughter move out of her flat . I'll need a rest by Thursday :-)
Esp the golf part hahaha
I retired last year at 49. A year earlier than I’d planned due to securing a redundancy payoff (my choice to go).
I didn’t particularly love or hate my job. I was well paid and could have carried on for a few more years but for me I thought that on balance I’d rather have more time to do other things
A few things that stand out for me;
I am far more relaxed that I ever was - No thoughts of work on a Sunday. This must be good for my stress levels but more importantly I have far more time and patience to do things with my son. Im keen to enjoy the time with him before he leaves on his own life journey.
I used to barely tolerate DIY as it felt like it was taking away my family time and time to unwind. As a result, I’d usually get trades people in. I’m currently fitting new bedroom units to 2 bedrooms and redecorating both bedrooms. With the extra time I have I’m thoroughly enjoying doing this - the added bonus being the lack of cost.
Financially there is a drop in income coming into the household each month but after tax and reduced outlay on various things the difference isn’t enough to change my lifestyle at all.
A year on from retirement I don’t regret it all.
I didn’t particularly love or hate my job. I was well paid and could have carried on for a few more years but for me I thought that on balance I’d rather have more time to do other things
A few things that stand out for me;
I am far more relaxed that I ever was - No thoughts of work on a Sunday
. This must be good for my stress levels but more importantly I have far more time and patience to do things with my son. Im keen to enjoy the time with him before he leaves on his own life journey.I used to barely tolerate DIY as it felt like it was taking away my family time and time to unwind. As a result, I’d usually get trades people in. I’m currently fitting new bedroom units to 2 bedrooms and redecorating both bedrooms. With the extra time I have I’m thoroughly enjoying doing this - the added bonus being the lack of cost.
Financially there is a drop in income coming into the household each month but after tax and reduced outlay on various things the difference isn’t enough to change my lifestyle at all.
A year on from retirement I don’t regret it all.
CAH706 said:
I used to barely tolerate DIY as it felt like it was taking away my family time and time to unwind. As a result, I’d usually get trades people in. I’m currently fitting new bedroom units to 2 bedrooms and redecorating both bedrooms. With the extra time I have I’m thoroughly enjoying doing this - the added bonus being the lack of cost.
That's a good insight. Your hobbies and interests may well flourish when you have more time available. So far I've had no inclination at all towards DIY, gardening or cooking. At my ripe old age I'm not sure that will change, but I should keep my mind open!Gassing Station | Finance | Top of Page | What's New | My Stuff