# Retirement



## Crazyface (Dec 7, 2022)

It's a long slog init? My advice is to put in as much as you can towards a company pension and cross everything that it's a gud 'un. The wifes been having a rubbish (to say the least) time at work, long story, but after six months of dithering and checking and researching and finally speaking to the bloke who deals with the work pension, she's handed her notice in. She's not yet 60, well she tells everyone she's 22, she thinks shes funny, been doing it for years, ho ho. But it's taken a massive weight off me, never mind her! 
We're very lucky to be in the position we are in to do this. I'm gonna carry on slogging away at Tesco for my 10 hours a week, with the odd extra if I feel like it,  well the benefits far outweigh working anywhere else, unless a beer taster comes up at Wilsons brewery, and since Courage bought that out years ago, I will never forgive them, that won't happen. So I'll keep on sweeping up the mistakes that fall into my lap from them, Tesco, for a few more years, and it's a laugh, god they are incompetent, not the staff, just Tesco. But thats another story. The wifes relaxed now and doesn't give a hoot! LOL She's just got to see out 6 months and will get a 3 month payout when she leaves. She's off for big chunks of it already so it will be about 3 months of actual work, as she's down to 3 days a week anyway. We're not big flash spenders so can mange on what we will be getting. 
So once again to those just starting out, chuck as much as you can into a company pension.


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## Tashyboy (Dec 7, 2022)

I retired at 52 and a half. I knew it was coming so I had got my head around it. Paid into a private pension for 36 years and when retirement came. I cut the cloth accordingly.
One of the biggest things I found with most pit lads that retired was because the pit was shutting With the loss of there job it made retirement easier. It is a massive decision.
Getting through the first winter is for me the hardest time. Dark earlier,  nowt to do, hobbies are a must. One of the things I have found now me and Missis T have retired is that “ now your not working you have time for others” 😡 and some times it is took for granted.
I can fully understand why some folk work part time. It fills the hours and there is social interaction.
All the best to you both.


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## SwingsitlikeHogan (Dec 8, 2022)

I’d say that if you can afford to retire then do it asap and do the stuff you’ve always wanted to do but didn’t have the time, because we cannot see around the corner of life.


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## AussieKB (Dec 8, 2022)

In my early years hiking around Europe, the amount of people I saw who had retired but could not climb steps or anything that required a little bit of effort was terrible, so it is never to early to retire and do the things you have always said you would do after retirement.

Life is too short so get out there and enjoy yourself, good luck.


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## ExRabbit (Dec 8, 2022)

We have just 'retired' in our early 60's but will be looking at doing a bit of part time work to tide us over until the state pension kicks in.

We have had to make some recalculations because of the increased bills etc.

Looking to do some things such as dropping leaflets off or dog walking to keep us fit and make a few quid here and there.


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## Bunkermagnet (Dec 8, 2022)

I would have retired last year, at 55. But sadly a certain Chancellor 
decided mine and many others, didn’t need a third of my (private)pension so I will have to carry on for some time yet.
I have wondered many times, what’s the point.


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## Slab (Dec 8, 2022)

I haven't made any plans for retirement so will need to do some kind of work until I drop, c'est la vie (a helluva lot of people made great plans but will never see retirement age, its a coin toss)
Started with good intentions in early 20's but quickly realised planning for old age and having zero funds to live on wasn't gonna work so cancelled policies etc and never restarted them


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## Crazyface (Dec 8, 2022)

I got contacted by someone claiming to be , and as it turned out was, from a company tracking people down for pensions. I'd got 10k in an ici pension I never knew of. I was only there 5 years. I'll be taking all of that as cash thank you very much in two years time.


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## D-S (Dec 8, 2022)

Very few people say on their deathbed "if only I had worked for a few extra years'.


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## jim8flog (Dec 8, 2022)

Having worked in Financial Services I had always intended to retire at 55.  I had to deal with far too many death claims for men who died in their 60s many either just before or just after 65.

Sadly for me the 2008 crash 'killed me' . I had planned on an income based upon 8% interest rate (the average at the time of doing the planning) and not the sweet football association it became. Ended up living on the capital rather than the interest.


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## jim8flog (Dec 8, 2022)

Bunkermagnet said:



			I would have retired last year, at 55. *But sadly a certain Chancellor
decided mine and many others, didn’t need a third of my (private)pension* so I will have to carry on for some time yet.
I have wondered many times, what’s the point.
		
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 Please explain that. 

The legislation was that companies could not overfund company pension schemes not that private pension had a limit to how much 'interest' could be earned'. However the general drop in in interest rates etc meant that annuity rates from private pensions also dropped considerably.


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## Doon frae Troon (Dec 8, 2022)

I retired aged 56 then took on various seasonal/hobby jobs until for another 10 years [when the state pensions clicked in].
Really enjoyed that time as all the jobs were 'nae pressure' stuff.
As soon as I got fed up or taken for granted I move on.
Ie I love gardening and worked three days a week restoring a beautiful old farm house garden. Many a time I stood back and thought how lucky I was getting paid for doing something I love.


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## rudebhoy (Dec 8, 2022)

I retired 8 years ago at the age of 54, best thing I ever did.

Bit of a tip for those who retired early. I'm due to get my state pension in 2027. I got a forecast the other day - the full state pension is £185pw, but despite having 39 years full contributions, I am only due to get £151. It turns out this is because my ex-employer opted out of SERPS/additional state pension (the idea is they put it into my private pension instead).

However, I have the option of making additional voluntary contributions. I got a quote of just over 4k which will take my state pension up to £181. That means I break even in less than 3 years of getting state pension. If I live to the male average of 86, I'll get an additional 30k in state pension (actually a good bit more as its index linked).

This is a total no brainer. A lot of large companies and employers in the public sector opted out of SERPS. I would urge anyone who might fall into this category to check this out asap.


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## KenL (Dec 8, 2022)

Is the male average lifespan now 86?

In Scotland it is 76, according to National Records Scotland.


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## BiMGuy (Dec 8, 2022)

I’m a long way from retirement unfortunately. And at the rate my wife and kids go through money I’ll be surprised if I ever do.

I’ll be off like a shot the first chance I get. There is so much to do in the world so couldn’t imagine thinking I’d be bored without working.


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## rudebhoy (Dec 8, 2022)

KenL said:



			Is the male average lifespan now 86?

In Scotland it is 76, according to National Records Scotland.
		
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It depends where you look, I got 86 from an article on MSE. 

Just looked at ONS, found this


Life expectancy at age 65 years was 18.5 years for males and 21.0 years for females; these estimates are very similar to those for 2015 to 2017 with a slight decline of 1.0 weeks for males and an increase of 3.1 weeks for females.


So, if you make it to 65, average life expectancy is 83.5 for males and 86 for females


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## SwingsitlikeHogan (Dec 8, 2022)

rudebhoy said:



			I retired 8 years ago at the age of 54, best thing I ever did.

Bit of a tip for those who retired early. I'm due to get my state pension in 2027. I got a forecast the other day - the full state pension is £185pw, but despite having 39 years full contributions, I am only due to get £151. It turns out this is because my ex-employer opted out of SERPS/additional state pension (the idea is they put it into my private pension instead).

However, I have the option of making additional voluntary contributions. I got a quote of just over 4k which will take my state pension up to £181. That means I break even in less than 3 years of getting state pension. If I live to the male average of 86, I'll get an additional 30k in state pension (actually a good bit more as its index linked).

This is a total no brainer. A lot of large companies and employers in the public sector opted out of SERPS. I would urge anyone who might fall into this category to check this out asap.
		
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Yes…my wife found out that about her state pension as she was in the NHS scheme (and so was contracted out of SERPS) and time not working under the old scheme and not enough to qualify for the full amount at the cutover to the new scheme in 2016.

The 35yrs contribution qualifying years for the full pension is only directly applicable to those starting out with a pension in the last few years and after the new pension scheme came in in 2016.  It’s really confusing.

My wife has 41 qualifying years yet currently would only get about £174/week.  I was baffled and so phoned the State Pensions Helpline.  Though she had enough for the full amount on the old scheme, she needs another two qualifying years to get the new scheme full state pension (each year of qualifying contribution currently adds precisely £5.29/week to your pension). She aims to do this so we are not looking at paying up the two years.

Meanwhile I’ve had to hike up my pension drawdown to cope with cost of living things (my drawdown was tight to spend) and is probably close to being a little too high for longest term sustainability given the recent pension crash which saw 15% (and a LOT of £££s) wiped from my fund (recovered maybe 5% since then), but aiming to drop it back down in Aug 2024 when my state pension kicks in.


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## Lord Tyrion (Dec 8, 2022)

KenL said:



			Is the male average lifespan now 86?

In Scotland it is 76, according to National Records Scotland.
		
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A friend gave me a book about Old Tom Morris, origins of The Open and his son etc. Very interesting too. The standout line in the book for me was that the average age for a male in Scotland, mid to late 19C, at the time was 41! Tough life back then.


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## need_my_wedge (Dec 8, 2022)

I'm currently in the process of selling up and moving home to put myself into a better position pre-retirement. Hopefully be mortgage free within 3 - 5 years and ready to sit back and relax, or play more golf....


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## williamalex1 (Dec 8, 2022)

The best decision I've ever made was to officially retire at 52. 
As a electrician I was able to pick and chose what jobs I wanted do.


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## IanM (Dec 8, 2022)

In Sept 2021, I packed in work aged 58,  best thing I ever did!

Last month, I started another job because it was offered!  Decent money, really good role and nice people.  I figured I'd do it over the winter and see what's what. One month in, I know my notice is going in straight after Christmas.  I've just got too many other things I'd rather be doing!   I wonder if they'll want me to do a month's notice?  

I feel very lucky to have the choice.   I might do some work over the winter next year, but not a full-on one like this.


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## SwingsitlikeHogan (Dec 8, 2022)

IanM said:



			In Sept 2021, I packed in work aged 58,  best thing I ever did!

Last month, I started another job because it was offered!  Decent money, really good role and nice people.  I figured I'd do it over the winter and see what's what. One month in, I know my notice is going in straight after Christmas.  I've just got too many other things I'd rather be doing!   I wonder if they'll want me to do a month's notice? 

I feel very lucky to have the choice.   I might do some work over the winter next year, but not a full-on one like this.
		
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With me fully retired and not drawing down very much pension and waiting for the state to help, but with my Mrs still doing couple or three days a week plus her NHS pension - we are comfortable but not well off.  But we have time, and we can’t buy time, and with my time ‘free and free‘ I can support family and friends as much as is asked of me and pretty much whenever they need me.


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## need_my_wedge (Dec 8, 2022)

KenL said:



			Is the male average lifespan now 86?

In Scotland it is 76, according to National Records Scotland.
		
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Oh crap, better cancel my move then........

Looking at this https://www.nrscotland.gov.uk/stati...ectancy/life-expectancy-in-scotland/2018-2020

it states


In Scotland in 2018-2020, life expectancy at birth was 76.8 years for males and 81.0 years for females. This is a decrease of around 17.6 weeks (0.3 years) for males and 6.1 weeks (0.1 years) for females since last year’s estimates and represents the biggest annual decrease since the series began.
This report describes period life expectancy. This is not a prediction of how long someone will live, but is an indicator which summarises the health of the population at a point in time.
Does it decrease when I cross the border......?


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## IanM (Dec 8, 2022)

need_my_wedge said:



			Does it decrease when I cross the border......? 

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.................not if the only change you make is to your address!


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## need_my_wedge (Dec 8, 2022)

IanM said:



			.................not if the only change you make is to your address!  

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Phew..... although eating more black pudding and drinking more whisky which may be detrimental.....


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## KenL (Dec 8, 2022)

need_my_wedge said:



			Phew..... although eating more black pudding and drinking more whisky which may be detrimental.....
		
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Whisky is fine, it's the congealed blood 🤮 that will see you off.


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## AmandaJR (Dec 8, 2022)

My working week has reduced over the past decade and currently I'm calling myself "retired". The inverted commas are because I'm not really sure I am...unless the perfect job for a maximum of 8 hours a week comes up, I am!


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## Vikingman (Dec 8, 2022)

IanM said:



			In Sept 2021, I packed in work aged 58,  best thing I ever did!

Last month, I started another job because it was offered!  Decent money, really good role and nice people.  I figured I'd do it over the winter and see what's what. One month in, I know my notice is going in straight after Christmas.  I've just got too many other things I'd rather be doing!   I wonder if they'll want me to do a month's notice? 

I feel very lucky to have the choice.   I might do some work over the winter next year, but not a full-on one like this.
		
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I finished in March 2015 but my idea was to continue to do a bit a bit of temping which initially I did.  Don't ask me how but I then managed to get myself another full time job. I stuck it for 3 months including a months notice. I'd gone from more or less being my own boss and working on my doorstep to travelling anything up to an hour to do a role which I quickly found out was not for me.


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## Bunkermagnet (Dec 8, 2022)

jim8flog said:



			Please explain that.

The legislation was that companies could not overfund company pension schemes not that private pension had a limit to how much 'interest' could be earned'. However the general drop in in interest rates etc meant that annuity rates from private pensions also dropped considerably.
		
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G Brown did a raid on pension companies to help fund the NHS and other things. As a result, my private pension  (as thats all Ive ever had) value dropped in value to the tune of 30%.


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## jim8flog (Dec 8, 2022)

Bunkermagnet said:



			G Brown did a raid on pension companies to help fund the NHS and other things. As a result, my private pension  (as thats all Ive ever had) value dropped in value to the tune of 30%.
		
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Thanks.  I was confused with the time that the government made all companies stop overfunding company pension schemes.


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## rosecott (Dec 8, 2022)

williamalex1 said:



			The best decision I've ever made was to officially retire at 52.
As a electrician I was able to pick and chose what jobs I wanted do.
		
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You idle so-and-so, Billy.

I soldiered on to age 55 and that was nearly 30 years ago.

I do agree that it was the best decision ever.


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## Bunkermagnet (Dec 8, 2022)

jim8flog said:



			Thanks.  I was confused with the time that the government made all companies stop overfunding company pension schemes.
		
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No problem, I wish I had a company that put into my pension back then. Thankfully I do now, and help to reduce nicely my Corp Tax


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## PhilTheFragger (Dec 8, 2022)

I’m in that undecided group who could afford to retire now, but really enjoys what I do.

I’m coming up 61, get state pension at 67, partner 56 so 5 years behind. I also have income from a property let

I’m inclined to stay as I am for 5 years and then go down to 3 days a week.

My carer can then retire and start drawing her pensions , she will have 6 years before her state one kicks in.

However, although my health now is pretty good, I have had a kidney removed 6 years ago and will need a heart valve replacement at some point

Ho hum


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## KenL (Dec 8, 2022)

PhilTheFragger said:



			I’m in that undecided group who could afford to retire now, but really enjoys what I do.

I’m coming up 61, get state pension at 67, partner 56 so 5 years behind. I also have income from a property let

I’m inclined to stay as I am for 5 years and then go down to 3 days a week.

My carer can then retire and start drawing her pensions , she will have 6 years before her state one kicks in.

However, although my health now is pretty good, I have had a kidney removed 6 years ago and will need a heart valve replacement at some point

Ho hum
		
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Retire and enjoy your life. No job is better than spending time at home and on the golf course with a dog or cat.


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## clubchamp98 (Dec 8, 2022)

I retired from 38 yrs of shift work at 56.
The firm was going under and wanted rid of the higher earners.
Big problem was I lost almost 50% of my pension ( 5% every year before 65)
You can only play so much golf before you get bored.
Went back to work part time as a greenkeeper and I love it.
Finances dictate decisions but if you can just do it.


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## Mel Smooth (Dec 8, 2022)

I started setting up my pensions to retire at 55 when I was in my early 20's. Unfortunately, life takes over and other priorities came along - some which I wasted a load of money on (don't buy speedboats if you don't like wasting money). 
I've no regrets, and I'll now work to pretty close to state pension age - but I should be OK once I get there thanks to some relatively brief investments I made when I could afford to make them.


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## Mudball (Dec 8, 2022)

I will die working at my desk at 75....  never will see state pensions since whichever govt comes in, it will keep moving it out.  At the end the state will take my pension.  Euromillion is my only retirement option...  can never find the winning numbers though


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## Mel Smooth (Dec 8, 2022)

Mudball said:



			I will die working at my desk at 75....  never will see state pensions since whichever govt comes in, it will keep moving it out.  At the end the state will take my pension.  Euromillion is my only retirement option...  can never find the winning numbers though
		
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I think a basic state pension should be optional to anybody who has paid a total of 45 years of NI contributions, I know some people can't avoid been unable to work, but plenty can, and do - those that contribute for a certain number of years should be rewarded in some way for working for what will be the majority of their lives.
Of course this would benefit low earners more than high earners, who will probably have decent pension provisions - the low earners are more than likely to be doing more physical jobs which take their toll on the body - the notion of doing what I do at 67 years plus is crazy. My knees are on their way out already....


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## IanM (Dec 8, 2022)

I've never factored State Pension into my retirement planning. Being made redundant from a long term employer in 2008 messed up the plans a bit, but free lancing rates helped catch up.


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## williamalex1 (Dec 8, 2022)

rosecott said:



			You idle so-and-so, Billy.

I soldiered on to age 55 and that was nearly 30 years ago.

I do agree that it was the best decision ever.
		
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Aye Jim I've been called a lazy B a few times.
Just wish I'd retired at 21 .


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## backwoodsman (Dec 8, 2022)

rudebhoy said:



			I retired 8 years ago at the age of 54, best thing I ever did.

Bit of a tip for those who retired early. I'm due to get my state pension in 2027. I got a forecast the other day - the full state pension is £185pw, but despite having 39 years full contributions, I am only due to get £151. It turns out this is because my ex-employer opted out of SERPS/additional state pension (the idea is they put it into my private pension instead).
...... instead).
		
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SwingsitlikeHogan said:



			Yes…my wife found out that about her state pension as she was in the NHS scheme (and so was contracted out of SERPS) 
......
		
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Another one to endorse this ^^^^^^
I too found out my employers (local government)  contributions were contracted out.  In effect this means a bigger proportion of their contribution was going towards my 'work pension' rather than my 'state pension'  - so my state pension wouldn't be the full amount.  If I'd left things as they were, then I'd only get  a state pension of £169 rather than the full £181 (as it was at the time). Paying about £3K in voluntary contribution meant I'd get the full state pension -  about £1K per year more than I'd otherwise get.. Payback in less than 3 years and quids in if I live for a decent whack of time (which I fully intend to do !!)
To see what you're entitled to just use the government pension checker  - just Google 'check state pension' to find it.


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## KenL (Dec 8, 2022)

How do you find out whether you'll get the full state pension or not?


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## Bunkermagnet (Dec 8, 2022)

KenL said:



			How do you find out whether you'll get the full state pension or not?
		
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Go to the Gov. website. You can find out here.


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## backwoodsman (Dec 8, 2022)

KenL said:



			How do you find out whether you'll get the full state pension or not?
		
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Just Google 'check state pension' - and you'll find the government's pensions website.


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## KenL (Dec 8, 2022)

Managed to get in.
Says this, and said this is the most I can get.


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## backwoodsman (Dec 8, 2022)

KenL said:



			Managed to get in.
Says this, and said this is the most I can get.
View attachment 45499

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That, I think, is the full state pension.


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## KenL (Dec 8, 2022)

KenL said:



			Managed to get in.
Says this, and said this is the most I can get.
View attachment 45499

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10 years to wait. No way am I working till I am 67.


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## backwoodsman (Dec 8, 2022)

KenL said:



			10 years to wait. No way am I working till I am 67.
		
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If you can afford to stop before 67, then I can thoroughly recommend it.  I retired just after 60 - fortunately the work pension was payable immediately -  but had (still have) to wait for the state pension. Reasonably comfortable living off the work pension - but next year, state pension kicks in. Will be, sort of, a nice bonus of £800 per month. (Just glad I'm not one of those who has only the state pension to survive on).


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## pauljames87 (Dec 8, 2022)

I want to retire at 60 if my mortgage is paid off and they haven't decimated the pension by then 

Doing some avcs to help , end of day wife's pension ain't gonna be great so we will be living off mine


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## Mudball (Dec 9, 2022)

A friend of mine (about 62) recently switched jobs after his co was being taken over. He got a bit of payout and landed a decent but stressful job with competitor. 
I asked him why he wants to work.  His kid recently got married, works in the city and not going to move back in a hurry. He has plenty of money. House paid off, overseas holiday home paid off. Decent retirement saving + something he can pass to next generation.  But still chasing the $$$ with all the stress that comes with it. I told him he would be better off taking time off and maybe freelancing with something less stressful or a charity. It is surprising how we can enslave ourselves.  I guess, to each his own


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## SwingsitlikeHogan (Dec 9, 2022)

backwoodsman said:



			If you can afford to stop before 67, then I can thoroughly recommend it.  I retired just after 60 - fortunately the work pension was payable immediately -  but had (still have) to wait for the state pension. Reasonably comfortable living off the work pension - but next year, state pension kicks in. Will be, sort of, a nice bonus of £800 per month. (Just glad I'm not one of those who has only the state pension to survive on).
		
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..indeed, and consider the many 100s of thousands living in rental property and due to retire with only the state pension in the coming few years…for most there ain’t going to be much left to live on once the rent is paid…in fact there will be diddly squat. That particular time-bomb has been known about and watched for years as it has ticked away, and it won’t be long before it explodes.


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## Paperboy (Dec 9, 2022)

I'd say if you can afford to retire do it. My Dad retired at 64, he got 5 years before he passed away. Makes sure you enjoy it, you can't take it with you.


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## SwingsitlikeHogan (Dec 9, 2022)

Mudball said:



			A friend of mine (about 62) recently switched jobs after his co was being taken over. He got a bit of payout and landed a decent but stressful job with competitor.
I asked him why he wants to work.  His kid recently got married, works in the city and not going to move back in a hurry. He has plenty of money. House paid off, overseas holiday home paid off. Decent retirement saving + something he can pass to next generation.  But still chasing the $$$ with all the stress that comes with it. I told him he would be better off taking time off and maybe freelancing with something less stressful or a charity. It is surprising how we can enslave ourselves.  I guess, to each his own
		
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And for me the other side of the ‘chasing the $$$s‘ coin is that yesterday, not feeling like hitting a ball about in the cold…I made a tray of most splendid Scottish tablet for me to give away from the church stall in the town fayre Sunday…and today..more tablet and some shortbread.  Because I have chosen to have free (or what my Mrs says) and stress-free choice most days now that I’m of the age and we have sufficient…not a lot, but sufficient.


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## RichA (Dec 9, 2022)

Paperboy said:



			I'd say if you can afford to retire do it. My Dad retired at 64, he got 5 years before he passed away. Makes sure you enjoy it, you can't take it with you.
		
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100%
Dad retired at 59. He's now approaching 91 and has thoroughly enjoyed this phase of his life, with only a modest pension. 
My brother-in-law worked his arse off, eventually setting up his own successful business with my sister. They put the business up for sale this year, intending to retire at 60 and make the most of it. The sale is about to go through. He died this week. Gutted for them.


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## pauljames87 (Dec 9, 2022)

RichA said:



			100%
Dad retired at 59. He's now approaching 91 and has thoroughly enjoyed this phase of his life, with only a modest pension. 
My brother-in-law worked his arse off, eventually setting up his own successful business with my sister. They put the business up for sale this year, intending to retire at 60 and make the most of it. The sale is about to go through. He died this week. Gutted for them.
		
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My uncle (family friend) was head of standard life pensions , his job was to come in . Retire all the old sales men (including my grandad) then retire himself ..

I remember going to both their retirement events in what 1994 / 1995? Tho both still about only in their 80s 

Both only now just starting to having health issues 

Used to play golf with them every Tuesday for years


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## SaintHacker (Dec 9, 2022)

Mudball said:



			I will die working at my desk at 75....  never will see state pensions since whichever govt comes in, it will keep moving it out.  At the end the state will take my pension.  Euromillion is my only retirement option...  can never find the winning numbers though
		
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Same here, I'll probably have to book a half day off to attend my own funeral!


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## Fromtherough (Dec 10, 2022)

I’m 43, so a way off retirement. When I would like to retire and when I’ll be able to retire seems like two very different things at the minute as there are lots of variables to consider. My work pension is decent. The first 20ish years will be final salary. The rest career average. I’m fortunate to earn a decent salary, so should build up a nice pot. However, the career average element is linked to state pension. So if I retire before state pension age (whatever that will be by then) I will get penalised and ‘lose’ some of the funds I’ve amassed. However, by then with no mortgage (hopefully) and our daughter all grown up, that may not matter. My Grandad retired at 55 and my Dad 67. I never heard my Grandad saying he regretted retiring early. However, now my Dad is in the swing of his retirement and holidaying 4 times a year he often says he regrets sticking it out - but on the flip side he’s possibly more financially capable of enjoying his retirement because he worked til 67.


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## clubchamp98 (Dec 10, 2022)

Retirement is very job dependant also.
I was a crane driver but it was made remote control so I did my own slinging.
It was incredibly physical but kept me fit.
I could not really have done that until 66 yrs old.
A nice cushy job then you could work until you drop if you want.

I retired early but it did cost me financially losing 50% of my pension.
But no travelling , work costs does cut outlay down.
If you have hobbies great but you need to fill your day.
Golf becomes boring if you play to much, ( me anyway)


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## KenL (Dec 10, 2022)

clubchamp98 said:



			Retirement is very job dependant also.
I was a crane driver but it was made remote control so I did my own slinging.
It was incredibly physical but kept me fit.
I could not really have done that until 66 yrs old.
A nice cushy job then you could work until you drop if you want.

I retired early but it did cost me financially losing 50% of my pension.
But no travelling , work costs does cut outlay down.
If you have hobbies great but you need to fill your day.
Golf becomes boring if you play to much, ( me anyway)
		
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I imagine golf could become boring. I'll only play about 5 times per week when I retire. Might caddie on the other 2.


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## stefanovic (Dec 10, 2022)

Been retired now for over 15 years.
Here are my tips.
Watch other people running around like headless chickens. You were like that once.
Don't think you have to take holidays. You are already on one.
Put your feet up and relax. 
Do a bit of yoga and Tai Chi, knowing that they don't do much, but you will impress your friends.
Protect your golf handicap. You don't want any pressure.
Use this book as your bible: https://www.amazon.co.uk/F-k-Ultimate-Spiritual-Way/dp/1848500130


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## Pants (Dec 10, 2022)

stefanovic said:



			Been retired now for over 15 years.
Here are my tips.
Watch other people running around like headless chickens. You were like that once.
Don't think you have to take holidays. You are already on one.
Put your feet up and relax.
Do a bit of yoga and Tai Chi, knowing that they don't do much, but you will impress your friends.
Protect your golf handicap. You don't want any pressure.
		
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I have to say that that is one of your more sensible posts


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## Crazyface (Dec 10, 2022)

stefanovic said:



			Been retired now for over 15 years.
Here are my tips.
Watch other people running around like headless chickens. You were like that once.
Don't think you have to take holidays. You are already on one.
Put your feet up and relax.
Do a bit of yoga and Tai Chi, knowing that they don't do much, but you will impress your friends.
Protect your golf handicap. You don't want any pressure.
Use this book as your bible: https://www.amazon.co.uk/F-k-Ultimate-Spiritual-Way/dp/1848500130

Click to expand...

I Like the second tip. I'll keep this one in mind. 
A mate of mine still works at 67. He's has a pension pot of £350K (he's told me). Works 5 days a week, import, export, for a guy who's set the thing up a year ago. He's a real snob, but cannot see it. Loves to brag about how much money this bloke has, and how he puts them up in Harrogate and takes them out in fancy restaurants buying £100 bottles of wine. He was supposed to by playing golf with me every Monday, that was the deal when I joined, but he's let me down so many times and on the last minute. Still hey ho, he loves it, and has got nothing else so me and the wife will just play on a Monday now she's retired, well from June.


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## Skytot (Dec 10, 2022)

Crazyface said:



			It's a long slog init? My advice is to put in as much as you can towards a company pension and cross everything that it's a gud 'un. The wifes been having a rubbish (to say the least) time at work, long story, but after six months of dithering and checking and researching and finally speaking to the bloke who deals with the work pension, she's handed her notice in. She's not yet 60, well she tells everyone she's 22, she thinks shes funny, been doing it for years, ho ho. But it's taken a massive weight off me, never mind her!
We're very lucky to be in the position we are in to do this. I'm gonna carry on slogging away at Tesco for my 10 hours a week, with the odd extra if I feel like it,  well the benefits far outweigh working anywhere else, unless a beer taster comes up at Wilsons brewery, and since Courage bought that out years ago, I will never forgive them, that won't happen. So I'll keep on sweeping up the mistakes that fall into my lap from them, Tesco, for a few more years, and it's a laugh, god they are incompetent, not the staff, just Tesco. But thats another story. The wifes relaxed now and doesn't give a hoot! LOL She's just got to see out 6 months and will get a 3 month payout when she leaves. She's off for big chunks of it already so it will be about 3 months of actual work, as she's down to 3 days a week anyway. We're not big flash spenders so can mange on what we will be getting.
So once again to those just starting out, chuck as much as you can into a company pension.
		
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Wilsons brewery
My local was a Wilson’s pub , used to love their Bitter & Boddies


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## Skytot (Dec 10, 2022)

I’m a 57 yr old carpenter, 40 yrs been doing it and I’ve lost my mojo and knees hurt . I’ve had a private pension since I was 23 . I’m hoping to go part time in 3 or 4 yrs fingers crossed my pension delivers.


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## IanM (Dec 10, 2022)

Skytot said:



			I’m a 57 yr old carpenter, 40 yrs been doing it and I’ve lost my mojo and knees hurt . I’ve had a private pension since I was 23 . I’m hoping to go part time in 3 or 4 yrs fingers crossed my pension delivers.
		
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Well, if its been going that long, you might be able to go sooner than you think. Speak to your IFA or get one.   There are several options in addition to taking the annuity


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## jim8flog (Dec 10, 2022)




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## Hobbit (Dec 11, 2022)

SwingsitlikeHogan said:



			With me fully retired and not drawing down very much pension and waiting for the state to help, but with my Mrs still doing couple or three days a week plus her NHS pension - we are comfortable but not well off.  But we have time, and we can’t buy time, and with my time ‘free and free‘ I can support family and friends as much as is asked of me and pretty much whenever they need me.
		
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The big statement in Hogie’s post is “we can’t buy time…” Having a big pension pot isn’t much use if your body is shot to bits and sitting around is all you’re good for. Retire whilst you’re still fit enough to do the things you want to do - this very much ties in with what the Independent Financial Advisor said to me 25yrs ago. “Do you think you’ll be walking the Fells at 80? Jetting off to China? By the time you reach 80, all you will need is enough money to pay for your TV licence.” A bit simplistic but you get the gist.

Mrs Hobbit is 62, I’m 64. The road trips, with shared driving, take some planning as failing eyesight means she can’t drive anymore. Days are limited to 2-3 hours driving, not 5-6. Thank God we retired 5 years ago.


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## Yorkhacker (Dec 11, 2022)

I took severance in 2009 at age 46 and rather than take all the money, paid as much of it as possible into my company pension. Did nothing for a couple of years, then worked for 7 1/2 years doing online orders for a supermarket. Getting up at 3 am 4 days a week for crap pay was tough, but being home by 9.30 am was great.

In 2012 we moved from Surrey to Yorkshire and bought a bigger house for less money. Never regretted it and it has been great for the kids who i think have done better, educationally, than they would have down South.

Retired in 2019 with a tidy tax free lump sum and an ok pension. We're not big spenders so we have more coming in than going out, so I'm happy. Just another 5/6 years until both lads have finished education.

As i get older, the desire for expensive things has diminished and i really hate waste so i have to really want/need something before i buy it, unless its golf related of course!
All in all I wouldnt change a thing with the way my life has turned out, I feel very lucky.


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## SwingsitlikeHogan (Dec 11, 2022)

Hobbit said:



			The big statement in Hogie’s post is “we can’t buy time…” Having a big pension pot isn’t much use if your body is shot to bits and sitting around is all you’re good for. Retire whilst you’re still fit enough to do the things you want to do - this very much ties in with what the Independent Financial Advisor said to me 25yrs ago. “Do you think you’ll be walking the Fells at 80? Jetting off to China? By the time you reach 80, all you will need is enough money to pay for your TV licence.” A bit simplistic but you get the gist.

Mrs Hobbit is 62, I’m 64. The road trips, with shared driving, take some planning as failing eyesight means she can’t drive anymore. Days are limited to 2-3 hours driving, not 5-6. Thank God we retired 5 years ago.
		
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We two are same age as yourselves…still fit, but other family issues that require our almost continual support have scuppered more significant leisure plans we had…at least for the time being.  

So we are fortunate that when my Mrs retired (albeit for only a year) I was able to take 6 months unpaid leave first half 2019 and we spent over 4 months travelling NZ, Aus, SE Asia.  If we had waited until I retired to do this we’d still be waiting, and with no end to that wait in sight.  If you see a chance take it.  The water keeps flowing under the bridge until it no longer does.


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## IanM (Dec 11, 2022)

Hobbit has pretty much repeated what my IFA says.

Assume you'll spend much less after the age of 70!   (Pick a number!)


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## pauljames87 (Dec 11, 2022)

IanM said:



			Hobbit has pretty much repeated what my IFA says.

Assume you'll spend much less after the age of 70!   (Pick a number!)
		
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We have an option at work where you can take a higher pension that lasts until 67 then at 67 it reduces (by the exact amount state pension is) sounds a brilliant idea.. I don't want more money when I'm older I'd like to take as much as possible 60-67


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## rudebhoy (Dec 11, 2022)

pauljames87 said:



			We have an option at work where you can take a higher pension that lasts until 67 then at 67 it reduces (by the exact amount state pension is) sounds a brilliant idea.. I don't want more money when I'm older I'd like to take as much as possible 60-67
		
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My place had the same option, which I took advantage of as the gap between me retiring and getting the state pension was 13 years. It's worked well for me, but you need to be aware that the longer you live, the more this will cost you. It's not cost neutral.


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## Alan Clifford (Dec 13, 2022)

Retired at 57.  Was being sidelined at work by new MD (she was sacked by the parent company 1 month after I retired ha ha).  Asked for a pension quote for early requirement and it was more than I expected.  Never looked back.  5 months in Barbados one year.  South Africa is the current favourite - looking forward to a February summer on the golf course.

Sadly, my ski boots went on freecycle today


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## banjofred (Dec 14, 2022)

Retired teacher. I always knew I would retire as soon as possible. Never spent that much money accept on the occasional new toy (computers, bicycle etc). Vacations were kept minimal and not expensive. Didn't get married until I was 49 and didn't have a family to raise (although wife had 4 kids from previous marriage)...that *really helps* with the money pot. They were offering early retirement so I took it when I was almost 54. I'd been keeping track of how much we spent for a couple of years before quiting so that I would know exactly how much I was spending and living comfortably on (still do).  My life is simple.....get up and go for a 5+ mile walk (or now the gym since I've had a leg issue), get on the computer and kill as many evil things as possible, play golf 3-4 days a week, watch some tv in the evenings, read, occasionally actually practice a musical instrument......zing, the day is over. My wife and I are basically hermits....we just don't live in a cave. Since we moved back to Harrogate almost 8 years ago, the furthest from Harrogate we have been is about a 1.5 hr drive away.


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## KenL (Dec 14, 2022)

A teacher able to retire at 54, that is impressive.


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## SwingsitlikeHogan (Dec 14, 2022)

Crazyface said:



			I Like the second tip. I'll keep this one in mind.
A mate of mine still works at 67. He's has a pension pot of £350K (he's told me). Works 5 days a week, import, export, for a guy who's set the thing up a year ago. He's a real snob, but cannot see it. Loves to brag about how much money this bloke has, and how he puts them up in Harrogate and takes them out in fancy restaurants buying £100 bottles of wine. He was supposed to by playing golf with me every Monday, that was the deal when I joined, but he's let me down so many times and on the last minute. Still hey ho, he loves it, and has got nothing else so me and the wife will just play on a Monday now she's retired, well from June.
		
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Note about a pension pot of £350k.  It might sound a lot (and compared with that of many, it is), but an IFA will suggest that to maintain a steady income from it for ‘as long as’, and maintain the pot (markets permitting) a monthly drawdown of about £1400 (4%), would be appropriate.  About £400 would be taxed so the pot would provide a monthly income of about £1320…not exactly a huge amount.

Of course you can take a higher % until the state pension kicks in then cut the drawdown to less than 4%.  And for ‘living in the now‘ I suspect a fair few plan to do that.


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## pauljames87 (Dec 14, 2022)

We got my dad to retire 6 months early when covid hit. Royal mail had ruined his pension but luckily my "uncle" (mentioned earlier) had set up his previous work places pension (that he left in 1994) and that combined with his royal mail pension (what was left) mean he takes home same as he did working 

Unfortunately he's 65 now so this was at 63.. and his joints aren't great .. so his dreams of golf every week went, hasn't played in years 

Sad really


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## banjofred (Dec 14, 2022)

KenL said:



			A teacher able to retire at 54, that is impressive.
		
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It was good, but not quite as good as it sounds. Working overseas for the US Govt, for some reason they think you deserve extra $$ since the housing costs were often higher than in the US. Basically they paid my housing rent during the main portion of my working years.....so my salary went into the bank without having to pay rent. And...as an added bonus....my wife (UK) who never worked in the US is eligible for the US Social Security Spousal payment for people who raised the kids etc (max of 50% of what I'm getting, she's getting around 40% I think)....which puts an extra £600+ in our pockets every month.


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## IanM (Dec 14, 2022)

I'm into week 4 of my "work through the winter " after 14 months off....

....quite frankly, even though the course is closed due to the freeze, I'd rather not be sat at a laptop working.   I am sure I could be doing something more fun!   

Lesson learned.


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## Lilyhawk (Dec 14, 2022)

I don't understand why anyone who could live a comfortable life not working would continue to work. Not considering those who's life and joy comes from their work, like professional golfers say. For them I only have envy.


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## Banchory Buddha (Dec 14, 2022)

IanM said:



			I'm into week 4 of my "work through the winter " after 14 months off....

....quite frankly, even though the course is closed due to the freeze, I'd rather not be sat at a laptop working.   I am sure I could be doing something more fun!  

Lesson learned.
		
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Hmmm, work through winter was my "part-time" plan as I put the clubs away in October usually. Maybe not so good then


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## IanM (Dec 14, 2022)

Banchory Buddha said:



			Hmmm, work through winter was my "part-time" plan as I put the clubs away in October usually. Maybe not so good then 

Click to expand...

I think the main issue is "loss of freedom!"  

Also this is a salaried "proper job" with same stress as my previous contracts, just not a big fat day rate, so I'm feeling like I am short changing myself.

If I do something next winter, it'll be part time only!


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## Crazyface (Dec 14, 2022)

SwingsitlikeHogan said:



			Note about a pension pot of £350k.  It might sound a lot (and compared with that of many, it is), but an IFA will suggest that to maintain a steady income from it for ‘as long as’, and maintain the pot (markets permitting) a monthly drawdown of about £1400 (4%), would be appropriate.  About £400 would be taxed so the pot would provide a monthly income of about £1320…not exactly a huge amount.

Of course you can take a higher % until the state pension kicks in then cut the drawdown to less than 4%.  And for ‘living in the now‘ I suspect a fair few plan to do that.
		
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It all depends on what you think you need. He drives a big Audi, and wants to continue to, but really does he need to? No he does not. His house is the size of two semi detatched, does he need it? no. But it's his, and his wifes, familly home so thats where he will be staying. See, it's where you place yourself with the finances available. The wife has sacked it off with a pension pot of 100K. This is to last until 65 when the next pot will be taken. £150k. So miles behind my mates £350k and he;s 67!!!!! Oh and his wife still works part time too. All kids long gone. He had no real bonkers spending habits, that I know of. Just takes a cruise holiday each year. So not a mega spender, neither is his wife. Just don't get it. I think he's a worrier.


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## banjofred (Dec 14, 2022)

A lady I worked with just couldn't save. She was on a fair bit higher salary than me. When I told her that I was saving at least $30K a year (this was around 2007), she couldn't understand how I could do it. After talking to her for a while....I knew. She ate out all the time. She never did her laundry, paid somebody else to do it. Went on trips to London at least once a month...and stayed in nice places. Lots of new clothes. Constant drain of money....just how she wanted to live.


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## Kennysarmy (Dec 14, 2022)

I've had a private pension that I've been paying in to since I was 25 (soon to be 53) - only a small amount - but built up around 30k - the idea is that this tops up my work pension if I go early!

I work (IT Support) in a school, and have been in the Local Government pension scheme since 1999, believe this is a decent scheme!

When the mortgage got paid off last year I started to put £200 a month in to a work organised Prudential AVC.

I'm also saving hard and hope to have around £80 too £100k  in savings by the time I'm 62 - that's the date I've provisionally got in mind to fully retire.

I've dropped from 5 days to 4.5 recently, but probably can't do my job on less than that sadly 

So, 9 years and 8 days to go.......

I don't have an extravagant lifestyle so who knows, may be able to go even earlier than 62!


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## SwingsitlikeHogan (Dec 14, 2022)

Lilyhawk said:



			I don't understand why anyone who could live a comfortable life not working would continue to work. Not considering those who's life and joy comes from their work, like professional golfers say. For them I only have envy.
		
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A think a little caveat would have you envying the life of successful, or even relatively successful, professional golfers.


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## SwingsitlikeHogan (Dec 14, 2022)

Crazyface said:



			It all depends on what you think you need. He drives a big Audi, and wants to continue to, but really does he need to? No he does not. His house is the size of two semi detatched, does he need it? no. But it's his, and his wifes, familly home so thats where he will be staying. See, it's where you place yourself with the finances available. The wife has sacked it off with a pension pot of 100K. This is to last until 65 when the next pot will be taken. £150k. So miles behind my mates £350k and he;s 67!!!!! Oh and his wife still works part time too. All kids long gone. He had no real bonkers spending habits, that I know of. Just takes a cruise holiday each year. So not a mega spender, neither is his wife. Just don't get it. I think he's a worrier.
		
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Remember that he doesn’t spend his pension pot as if it was a pile of capital in the bank.  He has to make it last until he is in his dotage, and the IFA advice is pretty standard…your monthly drawdown should be about 4% of your pot.  Of course you can drawdown larger lump sums if you want but you pay tax on it as if it were normal earned income - so it’s best not to if you can help it, unless needs absolutely must.  Depends also on the savings you have in addition to your pension fund.  So,the wife’s pension pot of £100k would see her with a typical drawdown income of £400/month.


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## Lord Tyrion (Dec 14, 2022)

Lilyhawk said:



			I don't understand why anyone who could live a comfortable life not working would continue to work
		
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My FiL falls into this category. He worked way past his time, didn't want to retire. Hated retirement for years, now is down to simply disliking it. It's wasted on him 😄.

He judges people by their job, their salary. If you aren't working what are you? He thinks people look down on him for not working because that's how he views things 🤷🏻‍♂️.

It blows his mind that I'd retire tomorrow if I could. I enjoy that conversation when we have it, watching his eyes spin around 🤣. It's a certain strange way to look at things, imo


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## RichA (Dec 14, 2022)

Dad took early retirement at 59. He's now approaching his 91st birthday, so he's done OK. 
His father retired at 65, got bored after a week and went back to work. I've got the Sheffield steel teapot his colleagues gave him on his 80th birthday when he was still working at Drax power station as the tea boy. 🤣


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## clubchamp98 (Dec 14, 2022)

My regular pp of 10 yrs is an absolute work aholic.
He’s just been told today he’s got a spinal / brain tumour, after waiting for a diagnosis.
So he can’t work any more.
He’s very worried it will put him in a wheelchair.
Been trying to cheer him up but it’s very hard to understand what’s going through his head.
He’s been saying for years he would retire but just one more job.

To many people don’t make retirement so if you can afford it do it imo.


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## Tashyboy (Dec 15, 2022)

Lilyhawk said:



			I don't understand why anyone who could live a comfortable life not working would continue to work. Not considering those who's life and joy comes from their work, like professional golfers say. For them I only have envy.
		
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There was a lorry driver at the last pit I worked at. He was well into his 70’s when he was compulsory retired through medical reasons. I asked him year after year why he still worked. He loved having companionship. He once said “ if you woke up in a morning and looked at what I had to look at, you would go to work as well”. He was on about his wife.
Ironically when he retired he and his wife spent hours and hours at his allotment. He said “ I wish I had done it years ago, but I dare not make the decision”. ☹️


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## ADB (Dec 16, 2022)

Unfortunately, wanting to retire to smell the roses and being able to retire are two very different things  - the boiler plate final salary pensions are long gone and now many see (myself included) selling up and downsizing as the only viable way of generating enough money to not work. With the cost of houses we'll be paying the mortgage off until close to retirement and with no obvious inheritance coming our way, i see a flexible working situation into my 70's being the only way we can have the lifestyle we want and also live in an area that we want to. I've resigned myself to this and amongst my friendship group, this is the common consensus - still working later in life but not as many hours. I see this as being the new normal.


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## Swinglowandslow (Dec 16, 2022)

Hobbit said:



			The big statement in Hogie’s post is “we can’t buy time…” Having a big pension pot isn’t much use if your body is shot to bits and sitting around is all you’re good for. Retire whilst you’re still fit enough to do the things you want to do - this very much ties in with what the Independent Financial Advisor said to me 25yrs ago. “Do you think you’ll be walking the Fells at 80? Jetting off to China?* By the time you reach 80, all you will need is enough money to pay for your TV licence.” *A bit simplistic but you get the gist.

Mrs Hobbit is 62, I’m 64. The road trips, with shared driving, take some planning as failing eyesight means she can’t drive anymore. Days are limited to 2-3 hours driving, not 5-6. Thank God we retired 5 years ago.
		
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I’ve been lucky, I am there very soon, but still fishing and golfing.
But the  advice is sound.
No good being well off and crocked. Go as soon as you can afford it.
Very few have jobs that are their hobbies too .


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## Billysboots (Dec 22, 2022)

I retired from the police in 2021 aged 54. As many will know, the first year was a bit stressful, as I have been treated for prostate cancer, but things are pretty good now.

Medical issues aside, it’s taking some time to settle into retired life. 54 is young, too young to be doing nothing. So I have a nice little part time job delivering cars two days a week. It doesn’t tax the brain, but I don’t want it to. It gets me out of the house, I enjoy seeing the countryside, and I don’t rely on the income from it. It goes straight in a savings account and, once I’ve paid my dues to the taxman, the net proceeds are used for family holidays, golf trips and away days and so on. 

People think I’m mad not taking a second career given my age. But I never wanted one. I simply wanted a stress free pension top up. I have money in the bank, a very comfortable monthly pension and a mortgage free home. If there is one thing life has taught me, certainly these last twelve months, it’s that there is more to life than work.

I will say that my decision to carry on doing some part time work has been influenced by the fact my wife still works, as do most of my golf partners. So winter, in particular, needs something to fill the days. I could never be a stay at home type - that would drive me potty.

Every one of us will have a different take on retirement. I have mates who retired from the cops and went straight back as civilian employees. No thanks, but it suits them. Some of them went back to their previous roles in a civilian capacity, meaning they still work shifts and on call duties. Definitely no thanks but, again, it suits them. Many took full time second careers doing something completely different.

It may be in a year or so I have a different view on my lifestyle. But the biggest plus for me is that, after a working life during which every aspect of my life was controlled, including what I did and said away from work to a large extent, I now have the freedom to choose. And that freedom is worth so much.


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## Billysboots (Dec 22, 2022)

Hobbit said:



			The big statement in Hogie’s post is “we can’t buy time…” Having a big pension pot isn’t much use if your body is shot to bits and sitting around is all you’re good for. Retire whilst you’re still fit enough to do the things you want to do
		
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Very true. I know me and my ilk are very fortunate to have retired on final salary pensions, but I do still vividly recall the advice of a retired chief inspector I played golf with a few years ago.

He finished at 54, and despite having a wealth of opportunities career wise, including some very lucrative offers, he turned them all down. His view was that he was going to play golf, cycle, walk, travel and try as many new hobbies as he could whilst his body still allows. He says when the aches and pains get too much for him to be able to do that, hopefully when he is into his late 60’s or beyond, only then will he start to think about part time work.

His view was that his late 50’s into his 60’s was his time, for him to do all the things he had always wanted to do. If finances allow it, what a great outlook to have.


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## stefanovic (Dec 22, 2022)

Coming up to 73, I have just one message.
What you need is not wealth. It's health.
If you have all the money you ever wanted it's useless if your health breaks down.
I can still jog, bike ride, play golf.
The reason we age is the same as why the universe ages.
It's called entropy - everything goes from a state of order to disorder.
Keep it in mind and consider not what to do but what not to do.


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## IanM (Dec 22, 2022)

Ongoing saga of my retirement... I got another job, which I started on 23rd November  (3 days after 59th birthday) having had 14 months off...

Smashing organisation, decent(ish) salary and interesting project!  I'm thinking "I don't want to be chained to a desk when the Spring arrives!" (which was the original plan) 

I am going to resign week 2 of the New Year so I can leave mid Feb.  There's Opens in the diary and golf to be played.  If you can afford to not work, or go part time I'd do it. 

I might do the same next Dec/Jan.. kept me busy while the weather is at its worse! 

BUT, if you need to work and are, celebrate the fact you are.  Many are less fortunate.


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## clubchamp98 (Dec 22, 2022)

Billysboots said:



			I retired from the police in 2021 aged 54. As many will know, the first year was a bit stressful, as I have been treated for prostate cancer, but things are pretty good now.

Medical issues aside, it’s taking some time to settle into retired life. 54 is young, too young to be doing nothing. So I have a nice little part time job delivering cars two days a week. It doesn’t tax the brain, but I don’t want it to. It gets me out of the house, I enjoy seeing the countryside, and I don’t rely on the income from it. It goes straight in a savings account and, once I’ve paid my dues to the taxman, the net proceeds are used for family holidays, golf trips and away days and so on.

People think I’m mad not taking a second career given my age. But I never wanted one. I simply wanted a stress free pension top up. I have money in the bank, a very comfortable monthly pension and a mortgage free home. If there is one thing life has taught me, certainly these last twelve months, it’s that there is more to life than work.

I will say that my decision to carry on doing some part time work has been influenced by the fact my wife still works, as do most of my golf partners. So winter, in particular, needs something to fill the days. I could never be a stay at home type - that would drive me potty.

Every one of us will have a different take on retirement. I have mates who retired from the cops and went straight back as civilian employees. No thanks, but it suits them. Some of them went back to their previous roles in a civilian capacity, meaning they still work shifts and on call duties. Definitely no thanks but, again, it suits them. Many took full time second careers doing something completely different.

It may be in a year or so I have a different view on my lifestyle. But the biggest plus for me is that, after a working life during which every aspect of my life was controlled, including what I did and said away from work to a large extent, I now have the freedom to choose. And that freedom is worth so much.
		
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Great post very similar to myself.
40 yrs of shift work takes it out of you.
I have a part time GK job and I love it ,I have learned so much and appreciate what our GKs do more.
Some people just love work ,I never did like shifts .
But we need something to do apart from golf.


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## Swinglowandslow (Dec 22, 2022)

Yes, I retired early, but unlike BB  I didn’t take a “little earner”.  I had a load of hobbies, which looking back , might have well have got  in the way of my career.😀…but I ..couldn’t wait for the days off to go doing one or the other of the hobbies. Financially I was able to tick over, no big house or fancy hols, but figured I needed to do what I did while the body held out. Even found myself playing squash early sixties, but that’s gone now.
I never had the slightest fear of being bored, certainly not as I neared retirement.
I knew some who dreaded retirement. But then , people are different.
I couldn’t understand  guys who retired one job and went straight into another, even though they had excellent pensions…..well, maybe not true.. they were guys who did nothing but work. Hobbies or pastimes they had none.  Truth was, they didn’t know what to do with themselves.  Mind, they couldn’t understand me, one or two even thought I was shirking my work because I wasn’t like them,!
The body’s not built to last forever, however you take  care of it. So, as has been said, do it while you can.
If you don’t ,but instead accumulate money, you’ll still finish up  giving someone £5k-£6k a month for a room.
If you’re lucky, the nurse will be pretty😂


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## IanM (Dec 22, 2022)

clubchamp98 said:



			But we need something to do apart from golf.
		
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.....anything "fun !"  Depending on your definition of fun.  Most of my career was fun, but it took up too much time!


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## stefanovic (Dec 22, 2022)

Can you go from being a workaholic to a leisureholic?
In my experience, no.
It's a bit like marriage when after the honeymoon period ends the settling down period begins. Danger, danger.
Remember all those books you wanted to read but never had the time?
All those places you wanted to visit.
You still need to keep the mind and body active.
Don't become a couch potato if you can avoid it.
Just going for a walk is in my experience the best for mental and physical health.


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## clubchamp98 (Dec 22, 2022)

IanM said:



			.....anything "fun !"  Depending on your definition of fun.  Most of my career was fun, but it took up too much time! 

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Well at least your job never got in the way of your fun 
Can’t say my job ( crane driver ) was fun.
To busy trying not to squash the workforce!


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## GreiginFife (Dec 22, 2022)

clubchamp98 said:



			Well at least your job never got in the way of your fun 
Can’t say my job ( crane driver ) was fun.
T*o busy trying not to squash the workforce!*

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Or resisting the urge to?


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## clubchamp98 (Dec 22, 2022)

GreiginFife said:



			Or resisting the urge to?
		
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You would not belive how many people will stand under a 25 ton load of copper or oil vestibule that you might be lucky to identify you if it hit you.
Crane cables are like guitar strings , if you hear them start to “ sing” you need to get away as fast as you can.
They will cut you in half.


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## Swinglowandslow (Dec 22, 2022)

clubchamp98 said:



			You would not belive how many people will stand under a 25 ton load of copper or oil vestibule that you might be lucky to identify you if it hit you.
Crane cables are like guitar strings , if you hear them start to “ sing” you need to get away as fast as you can.
They will cut you in half.
		
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Now and again we get reminded to be a lot more mindful and appreciative of other people’s jobs.
We tend to see them casually and think they’re easy or straightforward and we may therefore undervalue them, but the truth is that so many require skills and cares and expertise we know nothing about for them to be done right and safe for those around them.


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## backwoodsman (Dec 22, 2022)

Always wondered how the heck one learns to drive a crane?  Always impressed by the folk that can.


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## williamalex1 (Dec 22, 2022)

backwoodsman said:



			Always wondered how the heck one learns to drive a crane?  Always impressed by the folk that can.
		
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My mother worked an overhead crane during the 2nd World War.


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## Tashyboy (Dec 22, 2022)

Billysboots said:



			I retired from the police in 2021 aged 54. *As many will know, the first year was a bit stressful, as I have been treated for prostate cancer, but things are pretty good now.*

Medical issues aside, it’s taking some time to settle into retired life. 54 is young, too young to be doing nothing. So I have a nice little part time job delivering cars two days a week. It doesn’t tax the brain, but I don’t want it to. It gets me out of the house, I enjoy seeing the countryside, and I don’t rely on the income from it. It goes straight in a savings account and, once I’ve paid my dues to the taxman, the net proceeds are used for family holidays, golf trips and away days and so on.

People think I’m mad not taking a second career given my age. But I never wanted one. I simply wanted a stress free pension top up. I have money in the bank, a very comfortable monthly pension and a mortgage free home. If there is one thing life has taught me, certainly these last twelve months, it’s that there is more to life than work.

I will say that my decision to carry on doing some part time work has been influenced by the fact my wife still works, as do most of my golf partners. So winter, in particular, needs something to fill the days. I could never be a stay at home type - that would drive me potty.

Every one of us will have a different take on retirement. I have mates who retired from the cops and went straight back as civilian employees. No thanks, but it suits them. Some of them went back to their previous roles in a civilian capacity, meaning they still work shifts and on call duties. Definitely no thanks but, again, it suits them. Many took full time second careers doing something completely different.

It may be in a year or so I have a different view on my lifestyle. But the biggest plus for me is that, after a working life during which every aspect of my life was controlled, including what I did and said away from work to a large extent, I now have the freedom to choose. And that freedom is worth so much.
		
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Having worked in the medical for 25 ish years and Missis T in the NHS, it was seeing peoples health disappear at the click of your fingers that made my mind up to finish at 52 And a half. 36 years paying into a pension massively helped and learning to cut the cloth. But for some they have to find out themselves.
Re advice on retirement, it’s a toughie because everyone is different and everyone has different financial situations. Me and Missis T have never looked back And early retirement was the right decision.
Glad to see you back on the Forum Billy me man.


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## clubchamp98 (Dec 22, 2022)

williamalex1 said:



			My mother worked an overhead crane during the 2nd World War.
		
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Awesome respect.
She would love them now it’s remote control!
The more modern ones have drones to spec the load from all angles for safety.
Most of the work is the preparation the actual lift is usually quite straightforward.


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## clubchamp98 (Dec 22, 2022)

backwoodsman said:



			Always wondered how the heck one learns to drive a crane?  Always impressed by the folk that can.
		
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It’s like driving a car.
You spend three weeks with an instructor then you have to pass a very tough test.
Rabbit in the headlights at first ,but it becomes second nature.
Every now and again you get reminded that you can’t take it for granted or you can kill people.
That’s scary if you have a near miss ,it does happen !


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## williamalex1 (Dec 22, 2022)

clubchamp98 said:



			Awesome respect.
She would love them now it’s remote control!
The more modern ones have drones to spec the load from all angles for safety.
Most of the work is the preparation the actual lift is usually quite straightforward.
		
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It was in Colvilles steelworks she had to climb up a massive ladder, and work there for four hours at a time no toilet breaks.
.


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## Tashyboy (Dec 22, 2022)

clubchamp98 said:



			Awesome respect.
She would love them now it’s remote control!
The more modern ones have drones to spec the load from all angles for safety.
Most of the work is the preparation the actual lift is usually quite straightforward.
		
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When Thoresby pit was shutting we had a few folk just turn up to look around the pit. One day an old guy turns up with his grandson in his 20’s. We ended up in the winders control room, Grandad worked in there decades ago. The place where the “ cages, chairs, lifts went up and down transporting 12 tons of coal at a time. grandad starts telling stories about when he was a 
“ winder”. Rowie who was in the chair said “ do you want one last go” Grandads face was a picture as he sat in the chair he was beaming. He jumped out and his Grandson was full of tears. Rowie  then said “ jump in Grandson, your turn”. The lads face was a picture. He sat in the chair for 5 mins. It was a massive moment for them both.


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## clubchamp98 (Dec 22, 2022)

williamalex1 said:



			It was in Colvilles steelworks she had to climb up a massive ladder, and work there for four hours at a time no toilet breaks.
.

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Probably an EOT ( electric overhead tram)
I had an onboard toilet it was an Alpine lemonade bottle 
But imagine that would be a bit difficult for a woman.


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## clubchamp98 (Dec 22, 2022)

Tashyboy said:



			When Thoresby pit was shutting we had a few folk just turn up to look around the pit. One day an old guy turns up with his grandson in his 20’s. We ended up in the winders control room, Grandad worked in there decades ago. The place where the “ cages, chairs, lifts went up and down transporting 12 tons of coal at a time. grandad starts telling stories about when he was a
“ winder”. Rowie who was in the chair said “ do you want one last go” Grandads face was a picture as he sat in the chair he was beaming. He jumped out and his Grandson was full of tears. Rowie  then said “ jump in Grandson, your turn”. The lads face was a picture. He sat in the chair for 5 mins. It was a massive moment for them both.
		
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Yes history lesson for the lad.
Big respect for miners I don’t think I could do that.
I don’t like tight spaces.


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## Tashyboy (Dec 22, 2022)

clubchamp98 said:



			Yes history lesson for the lad.
Big respect for miners I don’t think I could do that.
I don’t like tight spaces.
		
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Another reunion last Friday. A night of cuttin coal, telling the same boring stories and a minutes reflection of miners who are mining on gods coal face. ☹️👍


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## clubchamp98 (Dec 22, 2022)

Tashyboy said:



			Another reunion last Friday. A night of cuttin coal, telling the same boring stories and a minutes reflection of miners who are mining on gods coal face. ☹️👍
		
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Not seen any of my lads since covid.
Sent a few messages ,no answers .
That’s not a good sign.


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## Tashyboy (Dec 22, 2022)

clubchamp98 said:



			Not seen any of my lads since covid.
Sent a few messages ,no answers .
That’s not a good sign.
		
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☹️


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## Crazyface (Dec 23, 2022)

SwingsitlikeHogan said:



			Remember that he doesn’t spend his pension pot as if it was a pile of capital in the bank.  He has to make it last until he is in his dotage, and the IFA advice is pretty standard…your monthly drawdown should be about 4% of your pot.  Of course you can drawdown larger lump sums if you want but you pay tax on it as if it were normal earned income - so it’s best not to if you can help it, unless needs absolutely must.  Depends also on the savings you have in addition to your pension fund.  So,the wife’s pension pot of £100k would see her with a typical drawdown income of £400/month.
		
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Ahh that's just the one pot. Draw down will be about £900 per month. Until 65 when second , larger pension kicks in. Then gov on at 67. I could just about retire but am going to hang on a bit just for the fun Tesco's give me. When that stops I'll stop


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## Tashyboy (Dec 23, 2022)

When Tash and Miss T sat down and worked out figures for the future. It was not so straight forward.
My pensions were MPS miners pension scheme. When the industry was privatised. It became The pension IWMPS Industry wide miners pension fund.
Then I joined staff for a couple of years, so staff pension.
When the industry went bankrupt both went into PPF fund Pension protection fund.
Thoresby pit started up as a stand alone business UK coal plc pension. That to went bust. That went into the PPF.
because pensions went into the PPF, I lost 10% of my pension pot but the lump sum was better.
However Notts miners have another pension called the Notts miners pension fund. It was set up in the 1930’s and only coal mine owners paid into it. That you can take as a lump sum about £22k if you have full entitlement or £22.50 PW.

Still with me.

Then there is the State pension. Ironically a guy rang me the other day to mention we had been opted out of “SERPS” I had already checked the Gov site online and had 36 full years and full pension Forecast. However MissisT T did not. She had 40 full years and yet the NHS had opted out. So hers is reduced to £155. She can pay for 5 years at £800 plus and get full entitlement. I told her to do it, she said no. The guy on the Gov freephone helpline was very very good.

After all that waffle. That is one of the reasons I cannot advice re what to take etc etc. Everyones situation is different and in some cases very very complex.
The only advice i would give is to check how many years you have on the Gov site re state pension and to go through your personal pensions with a fine tooth comb.
Finally. Make a Will.


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## SwingsitlikeHogan (Dec 23, 2022)

Tashyboy said:



			…
Then there is the State pension. Ironically a guy rang me the other day to mention we had been opted out of “SERPS” I had already checked the Gov site online and had 36 full years and full pension Forecast. However MissisT T did not. She had 40 full years and yet the NHS had opted out. So hers is reduced to £155. She can pay for 5 years at £800 plus and get full entitlement. I told her to do it, she said no. The guy on the Gov freephone helpline was very very good.

After all that waffle. That is one of the reasons I cannot advice re what to take etc etc. Everyones situation is different and in some cases very very complex.
The only advice i would give is to *check how many years you have on the Gov site re state pension* and to go through your personal pensions with a fine tooth comb.
Finally. Make a Will.
		
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Though as you have mentioned…actually what is more important than the *number* of years is the amount forecast as the _35 qualifying years for full pension_ is misleading for those who are approaching retirement or retirement thinking.


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## Tashyboy (Dec 23, 2022)

SwingsitlikeHogan said:



			Though as you have mentioned…actually what is more important than the *number* of years is the amount forecast as the _35 qualifying years for full pension_ is misleading for those who are approaching retirement or retirement thinking.
		
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Life’s odd, the guy that rang me re pension is Rowie. The guy who put Grandad and Grandson in the Winders chair. Anyway he has just rang me back and done some digging. Apparently on the Martin Lewis website there is info where some folk can claim for the reduced years. Not been sent the link yet so maybe talk later.


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## Billysboots (Dec 23, 2022)

Tashyboy said:



			Life’s odd, the guy that rang me re pension is Rowie. The guy who put Grandad and Grandson in the Winders chair. Anyway he has just rang me back and done some digging. Apparently on the Martin Lewis website there is info where some folk can claim for the reduced years. Not been sent the link yet so maybe talk later.
		
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I wouldn’t mind that link, Tash. I need to make up a couple of years N.I contributions, or so I’m told, so any info now would be really useful. My forecast state pension is only a few quid short of the full sum, so it may or may not make sense to make the additional contributions, depending on the sums involved.


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## Tashyboy (Dec 23, 2022)

Billysboots said:



			I wouldn’t mind that link, Tash. I need to make up a couple of years N.I contributions, or so I’m told, so any info now would be really useful. My forecast state pension is only a few quid short of the full sum, so it may or may not make sense to make the additional contributions, depending on the sums involved.
		
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https://www.moneysavingexpert.com/savings/voluntary-national-insurance-contributions/

Try that Billy.
Also Missis Tash has spent an hour or so looking on sites. Apparently because we have spent the last 10 years looking after the grandkids there is a “ clause” that if it is because grandkids parents are at work and wouldn’t be able to work without say me and Missis T, you can claim those years at no detriment to parents. So Missis T would not have to pay £800 plus per year.
Also Rowie said that for every £800 ish or year you pay. After 3 years you start to get your money back. The average age to live is 80 odd so it makes sense to do it. 
Good luck me man


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## williamalex1 (Dec 23, 2022)

Billysboots said:



			I wouldn’t mind that link, Tash. I need to make up a couple of years N.I contributions, or so I’m told, so any info now would be really useful. My forecast state pension is only a few quid short of the full sum, so it may or may not make sense to make the additional contributions, depending on the sums involved.
		
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Pm sent.


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## Mudball (Dec 23, 2022)

Been out in Lisbon for a long over due break.   What a lovely place - all the vibes from Barcelona but more bang for the buck..   

Lisbon is very hilly.  We walked around a fair bit.  Sometimes the Mrs struggled.  At some point, she said, I am happy that we decided to come over.  If we wait longer, we wont be able to do such trips.   

While many wait for retirement to undertake their trips, its worth noting that not everything needs to wait for it.    Get out there and enjoy it while you still can


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## SurreyGolfer (Dec 23, 2022)

I'm at the other end of the spectrum (35yrs old) but I really don't want to work past 55. Bit of a toss up at the minute in terms of working less days to spend more time with the young family now vs working more and sticking the extra in my pension. Some of the tips I've seen on here are invaluable, thank you!


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## chrisd (Dec 23, 2022)

I retired at about 62 when my business partner and I decided to sell our assets and call it a day. I lasted about 4 months and decided full retirement was not for me, especially with Mrs d still working.  I took a low paid book keeping job with a working mens club, which has turned into a £7m pound  development  - still good fun now I've just turned 70 !


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## Tashyboy (Dec 23, 2022)

Interesting headlines on the front of tomorrows Times paper.


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## SwingsitlikeHogan (Dec 23, 2022)

Mudball said:



			Been out in Lisbon for a long over due break.   What a lovely place - all the vibes from Barcelona but more bang for the buck..  

Lisbon is very hilly.  We walked around a fair bit.  Sometimes the Mrs struggled.  At some point, she said, I am happy that we decided to come over.  If we wait longer, we wont be able to do such trips.  

While many wait for retirement to undertake their trips, its worth noting that not everything needs to wait for it.    Get out there and enjoy it while you still can
		
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We loved the three days we had in Lisbon couple of months back.  Took the tour bus and did all three routes….and a lot of walking…up hill and down.  Marvellous city.


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## Tashyboy (Dec 23, 2022)

SwingsitlikeHogan said:



			We loved the three days we had in Lisbon couple of months back.  Took the tour bus and did all three routes….and a lot of walking…up hill and down.  Marvellous city.
		
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One of my most memorable nights of food was in a tapas bar in Lisbon. Twas an exceptional evening.


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## Mudball (Dec 23, 2022)

Haven’t read this article but apparently govt wants you to not take an early retirement… if anyone has access to this , then would be good to why the ‘return to work’ is being proposed


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## Mudball (Dec 23, 2022)

SwingsitlikeHogan said:



			We loved the three days we had in Lisbon couple of months back.  *Took the tour bus and did all three routes*….and a lot of walking…up hill and down.  Marvellous city.
		
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Never got around to the tour bus!! We stayed in an AirBnb the touristy area.. then just walked everywhere..  I am sure we will be back 

There is a job opening in our Lisbon office but thr 30% pay cut won’t help


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## Tashyboy (Dec 24, 2022)

Mudball said:



			Never got around to the tour bus!! We stayed in an AirBnb the touristy area.. then just walked everywhere..  I am sure we will be back

There is a job opening in our Lisbon office but thr 30% pay cut won’t help
		
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Porto is also a very nice City for a weekend. Not as Hilly though. 👍


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## Tashyboy (Dec 24, 2022)

https://www.bbc.co.uk/news/business-64083802

Shove it 😉


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## Mudball (Dec 24, 2022)

Tashyboy said:



			Porto is also a very nice City for a weekend. Not as Hilly though. 👍
		
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We went down to Cascais for a few days...  about 30 mins on the train.  Lovely place, but nothing much happens there (that is what we wanted).

Speaking to my friend in Lisbon.  He says property prices have gone thru the roof in Lisbon in the past 3 years or so.   Everything is being bought out by Americans and Chinese or becoming AirB&B.   I found americans buying strange.  Apparently, the allure is that it is same timezone as London but with much better weather and food in Lisbon.  Also gets over the problem of 'working in EU' by basing in Lisbon rather than London.


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## Tashyboy (Dec 24, 2022)

Mudball said:



			We went down to Cascais for a few days...  about 30 mins on the train.  Lovely place, but nothing much happens there (that is what we wanted).

Speaking to my friend in Lisbon.  He says property prices have gone thru the roof in Lisbon in the past 3 years or so.   Everything is being bought out by Americans and Chinese or becoming AirB&B.   I found americans buying strange.  Apparently, the allure is that it is same timezone as London but with much better weather and food in Lisbon.  Also gets over the problem of 'working in EU' by basing in Lisbon rather than London.
		
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I always put the Citys I have been to in two categories.

Big Cities like London, Berlin Lisbon, Rome. Take more than one long weekend to see most of it. usually with the help of bus tours.

Smaller Cities like Porto, Amsterdam, Gdansk, Krakow, Poznan, Dublin that you can have a good walk around. Over a long weekend.

Some of my favourite Cities fall into both categories.


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## bobmac (Dec 24, 2022)

The definition of retirement is waking up in the morning with nothing to do and going to bed at night with only half of it done.
And I have to say I'm brilliant at it


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## Tashyboy (Dec 24, 2022)

bobmac said:



			The definition of retirement is waking up in the morning with nothing to do and going to bed at night with only half of it done.
And I have to say I'm brilliant at it 

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Sounds like you were born to retire Bob. 👍


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## bobmac (Dec 24, 2022)

Tashyboy said:



			Sounds like you were born to retire Bob. 👍
		
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It's the only thing I've been any good at


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## clubchamp98 (Dec 24, 2022)

Tashyboy said:



https://www.bbc.co.uk/news/business-64083802

Shove it 😉
		
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That’s because the jobs don’t pay well enough for a family to get a mortgage and live properly.
So they want the older ones to do it.


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## Tashyboy (Dec 24, 2022)

clubchamp98 said:



			That’s because the jobs don’t pay well enough for a family to get a mortgage and live properly.
So they want the older ones to do it.
		
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I wonder if we can nominate folk 🤔

might have a bruise if I put Missis Ts name forwar.


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## clubchamp98 (Dec 24, 2022)

Tashyboy said:



			I wonder if we can nominate folk 🤔

might have a bruise if I put Missis Ts name forwar.
		
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Yes on your backside when she kicks you out to look for a job..


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## Mudball (Dec 24, 2022)

clubchamp98 said:



			That’s because the jobs don’t pay well enough for a family to get a mortgage and live properly.
So they want the older ones to do it.
		
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A bit harsh perhaps..


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## clubchamp98 (Dec 24, 2022)

Mudball said:



			A bit harsh perhaps..
		
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Not really.
Bet there’s not many 60K jobs going.

I find when you retire if you have cleared the mortgage and major debts I hardly spend anything.
But it costs money to go to work ,transport, meals ,clothes etc.
So I could do a minimum wage job no problem.
But someone with a mortgage and a few kids can’t survive on minimum wage.


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## IanM (Dec 24, 2022)

Lots of skilled, higher rate tax payers have jumped off the payroll.

Golf and fishing are more attractive than listening to corporate cobblers!!


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## Mudball (Dec 24, 2022)

clubchamp98 said:



			Not really.
Bet there’s not many 60K jobs going.

I find when you retire if you have cleared the mortgage and major debts I hardly spend anything.
But it costs money to go to work ,transport, meals ,clothes etc.
So I could do a minimum wage job no problem.
But someone with a mortgage and a few kids can’t survive on minimum wage.
		
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I agree…. But there is a section that will argue that those on min wage/dole should not have mortgage or kids.


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## Billysboots (Dec 24, 2022)

clubchamp98 said:



			Not really.
Bet there’s not many 60K jobs going.

I find when you retire if you have cleared the mortgage and major debts I hardly spend anything.
But it costs money to go to work ,transport, meals ,clothes etc.
So I could do a minimum wage job no problem.
But someone with a mortgage and a few kids can’t survive on minimum wage.
		
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This with bells on.

I don’t spend anywhere near what I expected to in retirement. My biggest expense, apart from fuel in the car to get me to various golf courses, are my monthly subs and the price of a couple of pints after a round. If I just had a coffee afterwards I’d save a fortune.


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## Tashyboy (Dec 24, 2022)

Billysboots said:



			This with bells on.

I don’t spend anywhere near what I expected to in retirement. My biggest expense, apart from fuel in the car to get me to various golf courses, are my monthly subs and the price of a couple of pints after a round. If I just had a coffee afterwards I’d save a fortune.
		
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For me my/ Missis Ts mindset has changed now re what we now buy and how. Take golf for example. I like the quality gear, but why pay £200 for decent shoes when you can wait a year and get £80 off. ( I like and wear Ecco). They will last me years and none of my pals think there 4 years old. Same with clubs. The money to be saved buying clubs a year or two old. Just had a pair of ECCO walking shoes come today, £40 off.

Theres not a cat in hells chance of me going back to work now


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## Billysboots (Dec 24, 2022)

Tashyboy said:



			Theres not a cat in hells chance of me going back to work now
		
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I don’t mind a nice little part time job like mine, but wild horses wouldn’t drag me back to a full time role. I still drive past our local police HQ, where I was stationed for almost 20 years, and it feels as though that was another life - I haven’t missed a single thing about it in nearly two years, and doubt I ever will. I didn’t dislike it, but I never became institutionalised like so many do. It was a job, no more.

Thanks for sharing that link, by the way. Some really useful stuff there Tash.


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## Hobbit (Dec 24, 2022)

Tashyboy said:



https://www.bbc.co.uk/news/business-64083802

Shove it 😉
		
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Yes there’s lots of vacancies but you could change shortage of labour to shortage of tax. And if they’re looking at incentives to get early retirees back into work, it would have to be financial incentives. If they can find the money for that they can find the money to pay the nurses more. That would generate more tax from nurses than part-time pocket money jobs for retirees.

As Tashy sez, shove it…


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## Tashyboy (Dec 24, 2022)

Billysboots said:



			I don’t mind a nice little part time job like mine, but wild horses wouldn’t drag me back to a full time role. I still drive past our local police HQ, where I was stationed for almost 20 years, and it feels as though that was another life - I haven’t missed a single thing about it in nearly two years, and doubt I ever will. I didn’t dislike it, but I never became institutionalised like so many do. It was a job, no more.

*Thanks for sharing that link, by the way. Some really useful stuff there Tash.*

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To be honest Billy I didn’t know if it was rammel or not. Some of the pensions were opted out from public sector. That means NHS and ? Does it mean police. I don’t know so it could or could of not been relevant. I suppose it goes back to everyone being different.


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## Mudball (Dec 24, 2022)

Hobbit said:



			Yes there’s lots of vacancies but you could change shortage of labour to shortage of tax. And if they’re looking at incentives to get early retirees back into work, it would have to be financial incentives. If *they can find the money for that they can find the money to pay the nurses more*. That would generate more tax from nurses than part-time pocket money jobs for retirees.

As Tashy sez, shove it…
		
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But nurses are not seen as traditional vote banks but silver haired retirees are ..


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## Alan Clifford (Dec 25, 2022)

Tashyboy said:



			For me my/ Missis Ts mindset has changed now re what we now buy and how. Take golf for example. I like the quality gear, but why pay £200 for decent shoes when you can wait a year and get £80 off. ( I like and wear Ecco). They will last me years and none of my pals think there 4 years old. Same with clubs. The money to be saved buying clubs a year or two old. Just had a pair of ECCO walking shoes come today, £40 off.

Theres not a cat in hells chance of me going back to work now
		
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I bought "last year's model" from the Footjoy's website.


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## Matty6 (Dec 26, 2022)

I’m 43 so a little way off from retiring. However, I want to be out of my profession (Cyber Security) by 60 at the latest. It’s a stressful role, so don’t want to be putting that strain on my body and mind for too much longer. We recently bought a holiday let that will supplement our retirement income long term. Aiming to get that mortgage, and the mortgage of our main home paid off way before retirement.


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## Tashyboy (Dec 26, 2022)

Matty6 said:



			I’m 43 so a little way off from retiring. However, I want to be out of my profession (Cyber Security) by 60 at the latest. It’s a stressful role, so don’t want to be putting that strain on my body and mind for too much longer. We recently bought a holiday let that will supplement our retirement income long term. Aiming to get that mortgage, and the mortgage of our main home paid off way before retirement.
		
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👍
I am involved with a reunion do for retired miners etc. A couple of weeks ago I was listening to a couple of lads talking. They both have bought houses to rent out and are doing quite well. Sometimes there’s a bit of stress with the renters but by and large they are happy as a pig in muck. Plus the value of the properties have gone up massively since they have bought them.


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## williamalex1 (Dec 26, 2022)

My retirement song was " Take This Job and Shove it " by Johnny Paycheck.


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## Fade and Die (Dec 26, 2022)

williamalex1 said:



			My retirement song was " Take This Job and Shove it " by Johnny Paycheck.

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As a fellow sparky I’m curious how you managed to retire so early, did you work for a large organisation with a terrific pension scheme?


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## williamalex1 (Dec 26, 2022)

Fade and Die said:



			As a fellow sparky I’m curious how you managed to retire so early, did you work for a large organisation with a terrific pension scheme?
		
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I was 30 years with  local authority's, working only in schools and other council buildings.
When they broke up Strathclyde Regional council  amalgamating with  various local councils
I was moved to North Lanarkshire Council working along side their existing housing electricians and was offered a retirement deal.

They added 10 years service giving me the maximum pension based on the best of the last 3 years earnings, plus a lump sum.
I reformed a band I had back in the day and started playing the clubs, and enjoyed playing that song lol.
Also some electrical work if the price was right and when it suited me .


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## Fade and Die (Dec 26, 2022)

williamalex1 said:



			I was 30 years with  local authority's, working only in schools and other council buildings.
When they broke up Strathclyde Regional council  amalgamating with  various local councils
I was moved to North Lanarkshire Council working along side their existing housing electricians and was offered a retirement deal.

They added 10 years service giving me the maximum pension based on the best of the last 3 years earnings, plus a lump sum.
I reformed a band I had back in the day and started playing the clubs, and enjoyed playing that song lol.
Also some electrical work if the price was right and when it suited me .
		
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That’s terrific Will. Well done. 

I was 56 yesterday, all being well I’ll be packing in in 4 years time. Can’t bloody wait! 😁


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## williamalex1 (Dec 27, 2022)

Fade and Die said:



			That’s terrific Will. Well done.

I was 56 yesterday, all being well I’ll be packing in in 4 years time. Can’t bloody wait! 😁
		
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Best of luck mate, the best move you'll make.


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## Fade and Die (Dec 27, 2022)




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## Skytot (Dec 28, 2022)

I’ve been off work on Christmas break since Monday 19th, the weather since has been awful . It’s made me think how bored I will be in the winter (when retired)if the weather is atrocious.


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## SwingsitlikeHogan (Dec 29, 2022)

Skytot said:



			I’ve been off work on Christmas break since Monday 19th, the weather since has been awful . It’s made me think how bored I will be in the winter (when retired)if the weather is atrocious.
		
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I wouldn’t let such thoughts put you off, interests can change and develop, and stuff happens that you’d never have considered or thought would happen to you or those close to you.
Plus you can choose, unconstrained by external factors (work), when to do things to suit when you feel like doing them, so today we are heading off late morning up to London as our Christmas present to each other was tickets to _Moulin Rouge _followed by dinner in Covent Garden - I’d previously have been working today.


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## Billysboots (Dec 29, 2022)

Skytot said:



			I’ve been off work on Christmas break since Monday 19th, the weather since has been awful . It’s made me think how bored I will be in the winter (when retired)if the weather is atrocious.
		
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That’s precisely why I do a little more of my part time job in the winter and then wind it back to just a day or two each week when the weather picks up.


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## IanM (Dec 29, 2022)

Skytot said:



			I’ve been off work on Christmas break since Monday 19th, the weather since has been awful . It’s made me think how bored I will be in the winter (when retired)if the weather is atrocious.
		
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As above!  Contrast that feeling when the sun is shining in the season, you are working, but could be playing golf!!  

I am handing in my notice when I get back to work next week... will pack in mid Feb.  I may or may not ever work again!


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## oxymoron (Dec 29, 2022)

My notice expired last month , asked to stay on a bit to help out but getting fed up with the excuses regarding setting a replacement on 
so it may be time to sever the cord and leave them to their own devices .


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## Billysboots (Dec 29, 2022)

oxymoron said:



			My notice expired last month , asked to stay on a bit to help out but getting fed up with the excuses regarding setting a replacement on
so it may be time to sever the cord and leave them to their own devices .
		
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I hate it when employers take advantage of a worker’s good nature. They’ve had your notice - the fact they haven’t made a plan to plug the gap is their problem, not yours.


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## arnieboy (Dec 29, 2022)

I postponed my retirement three times to help the company out but as it was a job I enjoyed it wasn't a problem to me.


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## Hobbit (Dec 29, 2022)

I gave 6 months notice so that they could sort a replacement out. Cue months of offers to stay. 4 months into the notice they offered me a job that piqued my interest. The MD wanted 5 years, but I offered 2. I stuck to that, and when the C diagnosis ‘arrived’ I left a month early. Post-op I received a number of approaches to go back and take on short term projects… not interested as invariably there’d be some overrun and then a period of post project support.

Miss some of the people and some aspects of the job, still, but 5 years retired and no interest in 40+hours a week.


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## IanM (Dec 29, 2022)

Remote working is excellent.  Saves aggro, saves money, is efficient,  is eco friendly etc etc

But it's not as much fun. Glad I did most of working when we still went to the pub for lunch!


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## stefanovic (Friday at 12:15 PM)

You can't retire until you have Couples who want comfortable retirement lifestyle will need an annual income of more than £54,000 - Daily Record 

Index linked of course.


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## IanM (Friday at 2:16 PM)

I've been given a leaving date of next Friday 20th January, if all my stuff is completed.   It will be! 

Maybe I need to embrace the word "retired" aged 59 years, 61 days! 

One of my old colleagues left Uni in 1986...I first met him in 1989 when I went to work in same place.  (I left there ion 2007) Even back then, he always said his ambition was to leave/retire!!  

Well, he stayed and worked in the same company all his life..... he retires next week too.  I hope the shock isnt too much for him!


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## Sats (Friday at 2:21 PM)

Billysboots said:



			That’s precisely why I do a little more of my part time job in the winter and then wind it back to just a day or two each week when the weather picks up.
		
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Sounds like a master plan that - Got 10 years until I can retire though.


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## Mudball (Friday at 7:16 PM)

A good TED talk to listen to >> 
*The 4 phases of retirement*


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