Enjoying Retirement
Discussion
scot_aln said:
Always funny how that seems to be the case even on homes that have happily sat going nowhere on Rightmove for months. Of course sometimes the agent could be open and honest.
As a seller I’d be embarrassed my agent saying that . If it sells so be it .
Anyhow the owners of the bigger gaff apparently are still considering our offer . We’ve said end of day pls so we know where we’re at
davidc1 said:
Once my inheritance comes through from my late dad's estate on Friday I will be mortgage free. No parents now which sucks big time.... and no mortgage.... I am the old one now.
So it's a wierd feeling. No joy in it really.
But it's the 1st step to joining you lot on here I guess!
Just gotta plough loads of money in the pension now. That is the next step.
Hi David & welcome to the thread. So it's a wierd feeling. No joy in it really.
But it's the 1st step to joining you lot on here I guess!
Just gotta plough loads of money in the pension now. That is the next step.
How old are you and have you already got a pension of sorts ?
davidc1 said:
Thanks. 52 . My pensions are ok . 1 db and 1 dc . I have other property as well so I am in a decent position. Will keep at my job for another 5 or 6 years in financial services then I hope to start to wind down.
My dc pension is my gamble ! But so far so good. Now I can overpay the pension big time and get all the free money .
Sounds like you already have it well sorted . My dc pension is my gamble ! But so far so good. Now I can overpay the pension big time and get all the free money .
Good luck and sorry to hear of your fathers passing .
Jaguar steve said:
It does.
I lost mine when I was 31 and he was just 66 - but my mum is still going strong at 94.
Hope I've got more of her longevity genes than my dads.
Similar story for me Steve. I lost mine when I was 31 and he was just 66 - but my mum is still going strong at 94.
Hope I've got more of her longevity genes than my dads.
I was 29 and my dad was 68 . Made worse by the fact he died 2 weeks before I got married.
alscar said:
I think its probably a factor or at least sub consciously.
I had planned to " go early " for sometime and I suppose my financial planning had been in place for quite a few years prior.
When the work fun factor went below 50% then that was the deciding factor.
We’re all different. I had planned to " go early " for sometime and I suppose my financial planning had been in place for quite a few years prior.
When the work fun factor went below 50% then that was the deciding factor.
I’m there on the work side so it’s just the logistics need sorting and bedding it all in .
It’ll happen, just got to get those ducks lined up !
OldSkoolRS said:
My turn to go on a bit Mike. 
This time a year ago I was about to go on my last work Teams call to have my goodbye call on my last day at work. So much has happened since and I feel in a very different place to where I was then. This is my review one year on:
Good bits:
Much lower stress levels and no longer that dread of Sunday evening/last day of a holiday as to what I'm going back to. Being able to get on with multiple jobs I'd been putting off, but not having to rush them or feel like I had to hit a deadline. Doing things at short notice, maybe weather based and just dropping everything to go out on a nice day. Going out during the week when it's quieter (except for school holidays!) and also not worrying about being out late on a weekday. Spending time with the family and seeing much more of the Grandkids than when I was working. Taking longer holidays and picking cheaper flights by being more flexible what day we go and return. Having the time to properly look into finances and get my money working better for me.
I've been able to commit more to my musical side this year: I've done vocals at rock project, performed two gigs so far on lead vocals (and love it), as well as loads of band gigs/jam nights/open mics. Maybe this has given me some of the self worth that it's sometimes said a retiree can lack once they aren't working, though I never really felt much of that aspect in my job anyway.
Bad bits:
I tried hard not to focus on money, but it seems inevitable that the drop to a fixed income has meant I'm at least subconsciously aware of over spending. The rise in CoL and energy price rises combined to make the miserable darker month of January a bit depressing. I fell between various projects and was limited by what I could get on with as well. It seemed a long gap between Christmas and our New Year break in Spain to the beginning of better weather (and another longer break in Spain). As I was waiting for some funds to come on stream, income was much reduced compared to when I was working, so the option to spend my way out of it was limited. It wasn't long before we made our long trip to Spain though, so that dip was fairly short lived and I hope to work around that more next year...
Improvements:
Having completed my music room slightly later than expected, I now have a great space to go and get on with practicing or working on multitrack recordings. I think this will help me during those darker winter months or when bad weather prevents going outside or jobs I might want to do in the garden.
Solar panels should help reduce our bills after the initial pain of paying for the installation, which will reduce ongoing monthly bills. That'll leave more money in our pockets, but I think also a psychological help in that we don't need to worry about using electricity.
The financial help I've had on this and some other threads on here has helped put me in a better place with the existing pensions I have. Also finally getting Probate through has allowed me to invest some of the capital to give me extra income as well.
Conclusion:
I took a bit of a leap of faith and perhaps should have done more research, especially financially, before I retired. However I'm still happy I left when I did and even living down to a very tight budget last year was worth it to get away from that job. Things are looking up for the future and I'm looking forward to another year of enjoying my retirement. I might even start working on my RS2000 this year, but don't hold your breath.
Nice write up mate. This time a year ago I was about to go on my last work Teams call to have my goodbye call on my last day at work. So much has happened since and I feel in a very different place to where I was then. This is my review one year on:
Good bits:
Much lower stress levels and no longer that dread of Sunday evening/last day of a holiday as to what I'm going back to. Being able to get on with multiple jobs I'd been putting off, but not having to rush them or feel like I had to hit a deadline. Doing things at short notice, maybe weather based and just dropping everything to go out on a nice day. Going out during the week when it's quieter (except for school holidays!) and also not worrying about being out late on a weekday. Spending time with the family and seeing much more of the Grandkids than when I was working. Taking longer holidays and picking cheaper flights by being more flexible what day we go and return. Having the time to properly look into finances and get my money working better for me.
I've been able to commit more to my musical side this year: I've done vocals at rock project, performed two gigs so far on lead vocals (and love it), as well as loads of band gigs/jam nights/open mics. Maybe this has given me some of the self worth that it's sometimes said a retiree can lack once they aren't working, though I never really felt much of that aspect in my job anyway.
Bad bits:
I tried hard not to focus on money, but it seems inevitable that the drop to a fixed income has meant I'm at least subconsciously aware of over spending. The rise in CoL and energy price rises combined to make the miserable darker month of January a bit depressing. I fell between various projects and was limited by what I could get on with as well. It seemed a long gap between Christmas and our New Year break in Spain to the beginning of better weather (and another longer break in Spain). As I was waiting for some funds to come on stream, income was much reduced compared to when I was working, so the option to spend my way out of it was limited. It wasn't long before we made our long trip to Spain though, so that dip was fairly short lived and I hope to work around that more next year...
Improvements:
Having completed my music room slightly later than expected, I now have a great space to go and get on with practicing or working on multitrack recordings. I think this will help me during those darker winter months or when bad weather prevents going outside or jobs I might want to do in the garden.
Solar panels should help reduce our bills after the initial pain of paying for the installation, which will reduce ongoing monthly bills. That'll leave more money in our pockets, but I think also a psychological help in that we don't need to worry about using electricity.
The financial help I've had on this and some other threads on here has helped put me in a better place with the existing pensions I have. Also finally getting Probate through has allowed me to invest some of the capital to give me extra income as well.
Conclusion:
I took a bit of a leap of faith and perhaps should have done more research, especially financially, before I retired. However I'm still happy I left when I did and even living down to a very tight budget last year was worth it to get away from that job. Things are looking up for the future and I'm looking forward to another year of enjoying my retirement. I might even start working on my RS2000 this year, but don't hold your breath.
The financial side I suspect is what makes most of us stick on the hamster wheel. The fear of suddenly changing the routine of so many years and wondering if you can manage financially is a constant concern. Unless of course you know you are loaded!
That first morning waking up knowing you aren’t going back to work and have to make your new life work is a little worrying.
I’m at loggerheads with Mrs GT3 over a house currently too !
OldSkoolRS said:
Had a busy week with a trip to London on Tuesday to see the Jeff Beck tribute at the Albert Hall. It was a lovely day so we had a picnic in Hyde Park and a good walk around it in the sunshine and a great gig. Grandson with us on Wednesday, but he's not much bother. Then yesterday it was MOT time for the Mercedes (it passed) so I had a go at buffing out some mystery scuffs that had appeared on my 'new' Mito which did the trick. Now the driver's side looks better than the rest of the car, so I'll have to work my way round it now. A mate picked me and some others up last night and we saw a band play at a much smaller venue than the Albert Hall, but was a good evening, so today is a bit more relaxed in the sunshine.
Finally got most of Probate sorted and put some money into ISAs and savings bonds to give me some extra monthly income and can eventually draw on them as they mature at various intervals over the next 1-5 years. I feel like it's finally over, with just one policy to pay out, but I suspect it might turn out that it transfers to my (now late) Step Mum anyway. I've mentally written that off and if it comes up then treat as a bonus. Feels like a weight off my shoulders at last, 18 months after we lost Dad.
It means that I'm now pretty much on my planned retirement income now as I'm drawing on part of a lump sum I took last December at a similar monthly rate to what I'll start taking my main DC pension at this December. Plus my other incomes/interest. Without mortgage (and now solar) after bills/deductions I'm left with only slightly less than when I was working, since non of my current income is taxed, so I've kind of stumbled my way into this situation. Some of this is due to helpful information I've got from this very thread, so I'm always happy to give back in whatever (if rambling!) way I can.
One of the guys with us last night is early 40s and he said that seeing me retire early has become a target for him and his wife. It sounds like he is a lot more proactive than I was at his age, though he also has the same policy of not living up to any wage rises same as me which seems to help when the time comes.
So pleased you've finally got the probate situation sorted, always sounded a real headache. Now you at least know where you stand finally & lets hope you get that other little windfall too. Finally got most of Probate sorted and put some money into ISAs and savings bonds to give me some extra monthly income and can eventually draw on them as they mature at various intervals over the next 1-5 years. I feel like it's finally over, with just one policy to pay out, but I suspect it might turn out that it transfers to my (now late) Step Mum anyway. I've mentally written that off and if it comes up then treat as a bonus. Feels like a weight off my shoulders at last, 18 months after we lost Dad.
It means that I'm now pretty much on my planned retirement income now as I'm drawing on part of a lump sum I took last December at a similar monthly rate to what I'll start taking my main DC pension at this December. Plus my other incomes/interest. Without mortgage (and now solar) after bills/deductions I'm left with only slightly less than when I was working, since non of my current income is taxed, so I've kind of stumbled my way into this situation. Some of this is due to helpful information I've got from this very thread, so I'm always happy to give back in whatever (if rambling!) way I can.
One of the guys with us last night is early 40s and he said that seeing me retire early has become a target for him and his wife. It sounds like he is a lot more proactive than I was at his age, though he also has the same policy of not living up to any wage rises same as me which seems to help when the time comes.
Agents pushing us now with selling up as the buyers are being pushed their end. With that in mind i viewed a property y'day and the wife has agreed to take a look at it Monday bank holiday. It would be a perfect size house for us and would work as well as our current home does, plus its all recently refurbished and is a 1930's period home.
The issue is that its not the exact location the wife wanted so lets see if the charm of the house can win her over.
It'll certainly mean i can work towards finally knowing i can eventually retire.
If she doesn't go for it we'll be renting for a while and placing stuff in storage. We'll rent a flat locally as I'll still have to have a temporary base until the youngest is settled in Uni and i can finally hang up my working boots!
I do feel somewhat of a fraud having started this thread with the words " I'm roughly a year away" back in January 2022 and yet here i still am but there has been life's twists and turns which has meant it'll still be a while yet.
Regardless, its been a great motivator having this thread and gaining invaluable information plus its clear its helped others too.
Those ducks are very gradually lining up though so i'lll keep at it.
Hope everyone has a good BH weekend
Edited by GT3Manthey on Friday 26th May 18:14
alscar said:
I wouldn’t worry for a nano second about feeling a fraud as not the case at all - it’s only just past the year period anyway.
Worry more about Mrs GT3 not agreeing with you about the prospective house !
As the next step the house has to make sense for you both and given how much it costs to move etc you don’t want to do it twice !
Have a good weekend.
Thats my thoughts too. I'd like to see the next house as our forever home, not one that i'll be listing for sale in 10 years!Worry more about Mrs GT3 not agreeing with you about the prospective house !
As the next step the house has to make sense for you both and given how much it costs to move etc you don’t want to do it twice !
Have a good weekend.
Even if we end up finding our next family home i'll still be renting a flat so the youngest has a soft landing on us moving away prior to her starting Uni and a midweek base for me whilst working. Also rental agreements are usually a year so if im having to stump up for that it'll be handy having a salary.
Mrs GT3 is a big on keeping things whereas like Alscar i'd rather lob it all and start over. The house we are viewing has a decent sized loft so all the old pics can be thrown up there if this house works out.
I think for some what we're doing would be too unsettling but i see it more of an adventure. Bottom line we've sold the house for top money in what appears to be a falling market with rates on the rise again by the looks of it.
My school fees end in august so the cost of renting will replace those so all in all it'll even out.
This weekend is full of celebrations. My 55th and our 25th anniversary so there's a big party tomorrow night with a marquee in the garden and around 70 people over. Sunday will be the monster of all hangovers and clearing up!
Weather looks to be on our side
Mrs GT3 is a big on keeping things whereas like Alscar i'd rather lob it all and start over. The house we are viewing has a decent sized loft so all the old pics can be thrown up there if this house works out.
I think for some what we're doing would be too unsettling but i see it more of an adventure. Bottom line we've sold the house for top money in what appears to be a falling market with rates on the rise again by the looks of it.
My school fees end in august so the cost of renting will replace those so all in all it'll even out.
This weekend is full of celebrations. My 55th and our 25th anniversary so there's a big party tomorrow night with a marquee in the garden and around 70 people over. Sunday will be the monster of all hangovers and clearing up!
Weather looks to be on our side
Happy Jim said:
@GT3, having a target is the important bit, mine was 55 and finally hit at 57 3/4 (Covid got in the way). You’ll get there, being a bit late just allows you to finesse the plan!
Yesterday (Friday) was glorious so I stopped messing around in the garage and did this instead…
Tks Jim . Yesterday (Friday) was glorious so I stopped messing around in the garage and did this instead…
Tomorrow we are having a 2nd viewing on a home so if Mrs GT3 goes for it we’re in business and can continue planning .
I’ll be renting locally for a while too ( just a flat for me and daughter) just while we get everyone bedded in.
RichB , writing a book sounds a great part of retirement and I’m assuming isn’t really your normal work background?
Nice one
Offer accepted on house yay !
Now the fun starts with clearing our home out and finding a flat so we get the sale of our house over the line and don’t break the chain as our sellers are still in search of a home.
We’ve bought a lovely Edwardian home which is ideal size and all refurbed with period features and actually not too many compromises.
We’ll put our stuff in storage whilst we rent a flat then the wife and two of the kids will move in to the house once we complete leaving me and daughter in a rental for a while until she’s all settled in uni.
It’s all a massive PITA but will be worth it in the end plus the wife loves the home.
Once all that’s done we’ll be emptying and selling our coastal flat so that brings another level of stress in itself but hey, this was all part of the plan .
The other issue is that we’re a family with 5 cars so gawd knows where we put those but I’ll cross that bridge as and when.
Still havnt told my mother any of this yet .
That might be a big hurdle in itself !
Wish me luck
Now the fun starts with clearing our home out and finding a flat so we get the sale of our house over the line and don’t break the chain as our sellers are still in search of a home.
We’ve bought a lovely Edwardian home which is ideal size and all refurbed with period features and actually not too many compromises.
We’ll put our stuff in storage whilst we rent a flat then the wife and two of the kids will move in to the house once we complete leaving me and daughter in a rental for a while until she’s all settled in uni.
It’s all a massive PITA but will be worth it in the end plus the wife loves the home.
Once all that’s done we’ll be emptying and selling our coastal flat so that brings another level of stress in itself but hey, this was all part of the plan .
The other issue is that we’re a family with 5 cars so gawd knows where we put those but I’ll cross that bridge as and when.
Still havnt told my mother any of this yet .
That might be a big hurdle in itself !
Wish me luck
OldSkoolRS said:
Blimey...I go out for the evening and this is what you get up while I'm not here. 
Congratulations, that's another step along the way now. I was wondering whether you'd retire before I get my RS back on the road, but I think you might beat me.
That’s a good challenge ! Congratulations, that's another step along the way now. I was wondering whether you'd retire before I get my RS back on the road, but I think you might beat me. I can’t see us finding a better home that suits us all so well so I’m praying all goes according to plan.
The current owners are wanting to move to West Sussex as their Son is having twins in September although this was supposed to be their forever home.
My wife met them y’day and they seem committed in moving so I’ll make sure the house gets removed from Rightmove once my documents are sent over.
We have so much to sort out now but we’ll get there .
mart 63 said:
Congratulations GT3, all the best with the move.
Took delivery of my late 60th birthday present to myself last night. A Gibson les paul standard 60s, in iced tea. Only managed to get it out of the box, as we went to a darts presentation. I've got snooker this morning, so it will have to wait till this afternoon to get plugged in.
The daughter and grandkids are over on Saturday for a week. We then have 2 days before my sister is here for 5 days. The weather has been dire for the last 3 weeks, but today it starts to pick up.
Tks and sounds a lovely guitar. Took delivery of my late 60th birthday present to myself last night. A Gibson les paul standard 60s, in iced tea. Only managed to get it out of the box, as we went to a darts presentation. I've got snooker this morning, so it will have to wait till this afternoon to get plugged in.
The daughter and grandkids are over on Saturday for a week. We then have 2 days before my sister is here for 5 days. The weather has been dire for the last 3 weeks, but today it starts to pick up.
OldSkool will know more about that than me.
I’m feeling some big stress levels with this whole house move business now with so much to organise and I’m praying our seller doesn’t pull out or that’ll leave us snookered.
I’ll keep the thread updated .
Enjoy your snooker
Just to add I’m currently crammed in on a lizzy line train wishing I wasn’t doing this rubbish anymore !
Edited by GT3Manthey on Wednesday 31st May 07:14
12TS said:
Watching with interest GT3 as we're feeling our time in South Essex is ending as well and we want to move away now. I get the feeling that the property market has cooled somewhat, so I'm interested to see how you get on with your sale.
Good luck!
Tks . Good luck!
Our buyer ( we are told) is rock solid and the chain wants to get moving asap so given what they’re paying Im happy to move out.
Where is south Essex are you and where will you head ?
scot_aln said:
Has everyone started enjoying retirement and given up posting. It's suddenly gone all quiet. It's not even sunny
GT3 The period features in an Edwardian place sound lovely. I do hope the running costs don't keep you from handing back the work pass.
Hi Scot I was thinking this morning that the thread had gone quiet ! GT3 The period features in an Edwardian place sound lovely. I do hope the running costs don't keep you from handing back the work pass.
The house isn’t enormous and has been recently renovated so won’t cost a fortune now . Super happy with the house just stressing over it going through . Always something to worry about !
Work pass will be handed in end of March next year now and gives my daughter a chance to settle into uni ( she starts her A levels today yikes) so more internal stress.
This month will be about her naturally so that’s the current focus.
Had survey carried out on our home y’day for our buyers and am awaiting our sellers to appoint a solicitor then I’ll book the survey .
Hope all is well everyone
Hereward said:
My neighbour has a 30-acre woodland. He phoned me yesterday morning "I've got the tree surgeons doing some tidying up, come and help yourself".
7 trailer loads of oak and birch so far which will be ready for Autumn 2024. Cutting, splitting and stacking is going to take me a week. In the cold snaps last Winter I was running two stoves for about 14 hours a day so this free wood is wonderful.
Pottering around on my little tractor during office hours never fails to make me happy.
That looks great fun 7 trailer loads of oak and birch so far which will be ready for Autumn 2024. Cutting, splitting and stacking is going to take me a week. In the cold snaps last Winter I was running two stoves for about 14 hours a day so this free wood is wonderful.
Pottering around on my little tractor during office hours never fails to make me happy.
Gassing Station | Finance | Top of Page | What's New | My Stuff