One of the maths boffins, IFAs, Actuaries etc -

[SwingsitlikeHogan]

Neither did I, but I wasn't prepared to give up the lifestyle that the salary afforded me so back to work it was. Don't get me wrong, it's a good pension but I like my concerts & holidays, & wasn't prepared to throttle back; if anything the tastes have got more expensive

Seriously it was a good thing. I enjoyed the office interaction until Covid got in the way. It keeps my mind active, and I'm in an environment where I'm reasonably valued & trusted, rather than too closely supervised (and not trusted) by the War Office.

There's a plan in place, designed with the IFA, to pay off the current debts for the vehicles & then look at retiring. Mrs. BiM will have a small BBC pension to add to the pot, and if the investment has done what we hope, we'll be able to draw down to maintain the lifestyle until the state pension kicks in.

if you can get away without working good luck to you, but I wouldn't dismiss a bit of work completely. Having worked in a job where we were part of a team, it's remarkable how much you miss that interaction. Just as you count those that don't take the money on the fingers of one hand, I can number the same amount of people I worked with who said that they don't miss the job but they do miss the blokes (well, most of the blokes...)

I've got my spreadsheet all set up to play tunes on how my drawdown fund might perform (or not as the case might be) and on my drawdown % and outgoings including inflation built in - and I look at when it might be OK for hang up boots and what might be sensible for me to draw down annually up to state pension kicks in and then to when my wife's kicks in. However as I am not a FA I will go with his. But mine is just to get a feel. Hmm...it's OK - I suppose...

 

[Billysboots]

Neither did I, but I wasn't prepared to give up the lifestyle that the salary afforded me so back to work it was. Don't get me wrong, it's a good pension but I like my concerts & holidays, & wasn't prepared to throttle back; if anything the tastes have got more expensive

Seriously it was a good thing. I enjoyed the office interaction until Covid got in the way. It keeps my mind active, and I'm in an environment where I'm reasonably valued & trusted, rather than too closely supervised (and not trusted) by the War Office.

There's a plan in place, designed with the IFA, to pay off the current debts for the vehicles & then look at retiring. Mrs. BiM will have a small BBC pension to add to the pot, and if the investment has done what we hope, we'll be able to draw down to maintain the lifestyle until the state pension kicks in.

if you can get away without working good luck to you, but I wouldn't dismiss a bit of work completely. Having worked in a job where we were part of a team, it's remarkable how much you miss that interaction. Just as you count those that don't take the money on the fingers of one hand, I can number the same amount of people I worked with who said that they don't miss the job but they do miss the blokes (well, most of the blokes...)

I will do something I’m sure. But my wish is to do it on my terms, so I’m looking at either agency work or something self employed. I certainly don’t want to be employed, more so by a large organisation. I’m sure you felt the same, but the thing I crave more than anything is some control over my destiny and day to day activities. I’ve been controlled for thirty years and have absolutely had my fill. I think only those in our line of work truly understand that feeling.

I won’t miss the job, and I’m not entirely sure I’ll miss many of those I work directly with. As a supervisor I don’t have a particularly “matey” relationship with most of them. Most of my closer mates have retired or do other things.

I’m looking forward to a few months off, and then I’ll take stock and see what needs to be done. If that means some part time work I’m quite happy, but it will be as far away from my current organisation as my little legs will carry me!

 

[Blue in Munich]

I will do something I’m sure. But my wish is to do it on my terms, so I’m looking at either agency work or something self employed. I certainly don’t want to be employed, more so by a large organisation. I’m sure you felt the same, but the thing I crave more than anything is some control over my destiny and day to day activities. I’ve been controlled for thirty years and have absolutely had my fill. I think only those in our line of work truly understand that feeling.

Totally get that, but my specialist skill set meant that I now work as a gamekeeper for another public service. I can buy annual leave which I do and with the Flexi working I could be working for worse firms. And there's another pension pot building.

I won’t miss the job, and I’m not entirely sure I’ll miss many of those I work directly with. As a supervisor I don’t have a particularly “matey” relationship with most of them. Most of my closer mates have retired or do other things.

As a CFL, I was possibly a bit more fortunate in that the relationship was a bit more matey so miss that aspect more than you might, but understand exactly where you were coming from. I was also lucky that in my particular branch the relationship between the grunts & the supervisors was a little more "relaxed" shall we say. There are aspects that I still miss, but by the end they were somewhat outnumbered by those that I didn't.

I’m looking forward to a few months off, and then I’ll take stock and see what needs to be done. If that means some part time work I’m quite happy, but it will be as far away from my current organisation as my little legs will carry me!

Good shout & good luck.

Oh, and if your force does a resettlement course I'd recommend taking it, if you haven't already.

 

[Billysboots]

Oh, and if your force does a resettlement course I'd recommend taking it, if you haven't already.

I’ve done three now. I always justify my attendance by saying it’s been a year since the last one, and my memory for important financial planning advice isn’t what it once was. Good days out, a great time to replenish my dwindling supply of PMAS memorabilia and with the added bonus of a free buffet. That, and it’s always nice to catch up with others who have reached a similar level of cynicism.

But I suspect I may get short shrift from my line manager if I tell him I’m going on another one ?

 

[Tashyboy]

It is what I call a happy problem. Which is the best way to do it, not the worst. But where to start.
Only you know your financial situation. The advantage you have is that this decision is made in 3 years time. I was in a similar position when my Pit/ Coal mine shut. At that time I made sure that my outgoings were slashed, mortgage already paid off, no loans, all big expensive jobs were done. Bottom line I cut my outgoings. It’s all ok sorting out what is coming in re pensions etc. But just as important is to try and cut down what is going out.
Theres been some Intersting comments re average age, and they are relevan. Also living in a lovely house down south. You would be surprised how many folk have sold up Darn south and moved to massive house around us with a fat wad in the bank.
Good luck me man.

 

[BrianM]

Totally get that, but my specialist skill set meant that I now work as a gamekeeper for another public service. I can buy annual leave which I do and with the Flexi working I could be working for worse firms. And there's another pension pot building.



As a CFL, I was possibly a bit more fortunate in that the relationship was a bit more matey so miss that aspect more than you might, but understand exactly where you were coming from. I was also lucky that in my particular branch the relationship between the grunts & the supervisors was a little more "relaxed" shall we say. There are aspects that I still miss, but by the end they were somewhat outnumbered by those that I didn't.



Good shout & good luck.

Oh, and if your force does a resettlement course I'd recommend taking it, if you haven't already.

Plenty jobs up In the Highlands for gamekeepers ??

 

[SwingsitlikeHogan]

Interesting last sentence...hard to argue with. I also have 3 years to make the decision..

The other big consideration on timing of hanging up my boots is the medical insurance I get for my Mrs through my company.

It costs us about 80/month top line. We have looked into the cost were we to go ourselves with her pre-existing BC condition after me leaving the company. They’d take her on as she is already insured...but without an excess of many thousands it would cost £520/month (off bottom line ? ). Once she is past 5yrs from diagnosis (this May) she is more inclined to take the risk and we accept the excess for a lower premium than she has been to date. But not at the moment.

The cost of Private health cover with a pre-existing condition...who’d have thunk it...?