Retirement?

[Billysboots]

And well served sir, and thank you.

BiL completed his 30 at 48 years old, retiring on a DCI's pension. He then worked for the local authority until last year, 67, on crime prevention and restorative justice initiatives.

Very kind of you to say - thank you.

I’m a couple of rungs down the ladder, so won’t do too badly out of it. Mrs BB also has a short service pension, and draws a local authority pension in ten years’ time.

I have an eye on a couple of possibilities. I’m happy with a driving job if I’m honest, so that my office is in the great outdoors. But failing that I’ve got some contacts who do insurance work - right up my street, hours to suit and will top the pension up nicely.

Most of all I’m looking forward to the freedom of not being tied to my current organisation. Freedom to speak to who I want, when I want to, not having to watch my every word 24/7 for fear of it returning to bite me on the backside. Freedom to just be normal again. I’ve forgotten what that’s like.

 

[harpo_72]

Tough one having had 2 ICOs ( involuntary career opportunities ?) I have experience of being tight and living on savings and also that place where it goes quiet no one talks to you ..
I am actually a self contained chap. But it did make me realise I thrive when loads of stuff is happening. But it was harming my health, and when I got my last ICO, the drive home I felt the weight lifting off my chest. It got scary, and given the current climate it still is scary, but I hope I can keep rolling my contract over every 6 months. If I get 3 yrs out of it then I have been really lucky. Engineering is not a constant job, but Hey ho make hay whilst the sun shines.
Where does that leave me for retirement.. I cannot say, I can plan, but it’s all out of my control. I would love to say at 47 that 55 would be great. But the boy is 7 now and my parents will need supporting. Guess I will play my game plan and see what happens, maybe my wife‘s photography will go big, she is good with a couple of Vogue and professional awards under her belt.

 

[Tashyboy]

I finished at 52 and have never really looked back. The odd thing about retirememt is that it never really happens when you expect or plan for it. For me I made sure that all debts were paid off. No mortgage or loans. It meant us doing without but now it’s worth it. It’s not so much as what coming in but what’s not going out. Ie, no loans etc.
I worked 20 odd years in the medical at the pits. Missis T 30 odd years as a nurse. Bottom line, you get to see the poo end of the stick. Folk dropping dead before there time etc. This year Ave been to me best pals/PP wife’s funeral. Monday am off to sisters in laws funeral, she was wiped out by a drug driver three weeks ago. Father in law has dementia. What am trying to say is You never know what is around the corner and the health we take for granted, all the plans we have can be taken away in an instant. If you can afford it, do it.
good luck what ever you decide, it’s what I call a happy problem.

 

[Hobbit]

I finished at 52 and have never really looked back. The odd thing about retirememt is that it never really happens when you expect or plan for it. For me I made sure that all debts were paid off. No mortgage or loans. It meant us doing without but now it’s worth it. It’s not so much as what coming in but what’s not going out. Ie, no loans etc.
I worked 20 odd years in the medical at the pits. Missis T 30 odd years as a nurse. Bottom line, you get to see the poo end of the stick. Folk dropping dead before there time etc. This year Ave been to me best pals/PP wife’s funeral. Monday am off to sisters in laws funeral, she was wiped out by a drug driver three weeks ago. Father in law has dementia. What am trying to say is You never know what is around the corner and the health we take for granted, all the plans we have can be taken away in an instant. If you can afford it, do it.
good luck what ever you decide, it’s what I call a happy problem.

You've highlighted a very important point Tash, health. Whatever plans we make we assume we'll be fit enough to carry them out. Arthritis has ruined any dreams of playing golf again, and now its in my ankle I've not played bowls for weeks. I refuse to accept sitting in the corner of the sofa smelling of wee. The weights are getting some exercise, and I walk every day but this isn't the retirement I signed up for 30 months ago.

 

[chrisd]

You've highlighted a very important point Tash, health. Whatever plans we make we assume we'll be fit enough to carry them out. Arthritis has ruined any dreams of playing golf again, and now its in my ankle I've not played bowls for weeks. I refuse to accept sitting in the corner of the sofa smelling of wee. The weights are getting some exercise, and I walk every day but this isn't the retirement I signed up for 30 months ago.

Arthritis is a bad thing, after both hips being replaced I now have the starting in the fingers and thumbs and neck but like you Brian I'll fight for as long as I can and have been cycling for the first time ever this spring/summer. I wish you well with your effort to beat it ?

 

[harpo_72]

Wife said we will have no chance to retire ?

 

[bobmac]

I retired about 5 years ago as an experiment to see how I got on and I have to say it's brilliant.
It's the only thing I've been any good at.

 

[SwingsitlikeHogan]

Was in touch yesterday with a close mate (4 yrs younger than me in his late 50s) not spoken to recently and he’s stopping end of the month. Makes me think.

 

[williamalex1]

I finished at 52 and have never really looked back. The odd thing about retirememt is that it never really happens when you expect or plan for it. For me I made sure that all debts were paid off. No mortgage or loans. It meant us doing without but now it’s worth it. It’s not so much as what coming in but what’s not going out. Ie, no loans etc.
I worked 20 odd years in the medical at the pits. Missis T 30 odd years as a nurse. Bottom line, you get to see the poo end of the stick. Folk dropping dead before there time etc. This year Ave been to me best pals/PP wife’s funeral. Monday am off to sisters in laws funeral, she was wiped out by a drug driver three weeks ago. Father in law has dementia. What am trying to say is You never know what is around the corner and the health we take for granted, all the plans we have can be taken away in an instant. If you can afford it, do it.
good luck what ever you decide, it’s what I call a happy problem.

Well said and welcome back from your forum retirement

 

[SwingsitlikeHogan]

I finished at 52 and have never really looked back. The odd thing about retirememt is that it never really happens when you expect or plan for it. For me I made sure that all debts were paid off. No mortgage or loans. It meant us doing without but now it’s worth it. It’s not so much as what coming in but what’s not going out. Ie, no loans etc.
I worked 20 odd years in the medical at the pits. Missis T 30 odd years as a nurse. Bottom line, you get to see the poo end of the stick. Folk dropping dead before there time etc. This year Ave been to me best pals/PP wife’s funeral. Monday am off to sisters in laws funeral, she was wiped out by a drug driver three weeks ago. Father in law has dementia. What am trying to say is You never know what is around the corner and the health we take for granted, all the plans we have can be taken away in an instant. If you can afford it, do it.
good luck what ever you decide, it’s what I call a happy problem.

Agree so much on first trying to clear the decks of all debts. We got rid of them all (mortgage, O/D, loans, CCs etc) before I took six months unpaid leave last year and the difference that made to us in our heads was massive.

We have taken a couple of loans on more recently - one to enable us to buy a 'forever' car (so looking forward at our needs for well into our retirement)- and another to do the last bit of work on our house that really needed doing. If and when we sell up to downsize (as we will) buyers will hopefully love the look of the house and have little to find issue with. They are not small amounts but while we are both working we'll be paying them off - and they are easily affordable as we had previously completely cleared the decks. And when I do eventually hang up my boots, I'll take the 25% tax free from my current company pension pot and clear both of the loans - decks cleared once more. Well that's the plan. And even if the 25% goes, as it might, the tax on it will most likely be at the basic rate so won;t cost me too much.

 

[Vikingman]

I took the money at 57, must admit to a certain amount of soul searching about whether I'd done the right thing. The plan was to go temping for a couple of years but somehow I managed to land myself another full time job. Massive mistake, for years I'd been left to my own devices so being watched over again didn't come easy. Plus the travelling was a pain and seeing as I could earn the same temping I chucked it after a couple of months. Not long after I had a health scare and haven't worked since. What was strange was the feeling I had between leaving my original job and my first temporary job. I felt guilty, I felt like I should be working. My advice would be do the sums as best as you can and then monitor how your doing against your forecasts. As others have said and I found out, you never know what tomorrow will bring but my dad always said that not many people on their death bed said they wished they'd spent more time in work.

 

[IanM]

Arthritis has made life virtually untenable for my mum...she always says she never envisaged this sort of life... she's 81 and has had to live with this for most of the past 15 years.. very sad

My dad always said that not many people on their death bed said they wished they'd spent more time in work.

Too right!

Looking at all the comments, and the state of the world - Covid etc, my own circumstances - Someone wants to pay me to work from home over the winter, travel is restricted, I am 57 in November, Donna takes redundancy in December.....

I will pack it in at the end of March. ...and if anyone pees me off in the interim, well, I will go earlier!

 

[Deleted member 21258]

Hope it works out well for you and Donna.

 

[Blue in Munich]

I will pack it in at the end of March. ...and if anyone pees me off in the interim, well, I will go earlier!

Knob!!

End of February now then?

Good luck with it Ian, hope it all works out.

 

[Slab]

Wife said we will have no chance to retire ?

Me neither.

We will need to work till we drop. It is what it is & no point greetin over it I guess. Never had the kind of job that allowed us to build OAP savings or that pays out golden pension eggs

 

[SwingsitlikeHogan]

Me neither.

We will need to work till we drop. It is what it is & no point greetin over it I guess. Never had the kind of job that allowed us to build OAP savings or that pays out golden pension eggs

The same from my B-i-L - in early 60s and it worries him a lot...more so as he is currently unemployed...

 

[Slab]

The same from my B-i-L - in early 60s and it worries him a lot...more so as he is currently unemployed...

I wonder sometimes if I’ll make it to retirement age (I guess not if the age keeps rising anyway) Unfortunately plenty folks don’t, even after spending decades saving for it.
It’ll be just my luck to still be tottering around at 100, who knows what kind of job I could get in my 90’s ?

 

[harpo_72]

Me neither.

We will need to work till we drop. It is what it is & no point greetin over it I guess. Never had the kind of job that allowed us to build OAP savings or that pays out golden pension eggs

I started too late for a final salary pension, but early enough for the financial services to be offering poor services.
Just hoping I can keep money coming in.

 

[SocketRocket]

I wonder sometimes if I’ll make it to retirement age (I guess not if the age keeps rising anyway) Unfortunately plenty folks don’t, even after spending decades saving for it.
It’ll be just my luck to still be tottering around at 100, who knows what kind of job I could get in my 90’s ?

Care home Gigolo. Start stocking up on the blues ?

 

[Tashyboy]

Well said and welcome back from your forum retirement

?? To be honest the break has done me the world of good. It’s been a tough 5 months since we got back from Mexico. Don’t know if I mentioned that I had been away ?. Home schooling grandkids, Lordy flippin Lordy. Thank god for Missis T being a good head mistress. Bessie pals with Covid. Friends and family knocking on the pearly gates. Parents not being able to go anywhere and being bogged off at seeing what was going off elsewhere. FIL with dementia. Not to mention Liverpool winning the league. Always followed what was going off on here. But couldn’t be bothered with discussio.

Back on topic though, a PPs wife has had her figures as Covid means her job is now gone. Brother in law has had his figures from Notts Council and is doing cartwheels. His workmate.She was handing in her notice in December. She has been given her figures and feels she has won the pools. Those 3 will retire happily. Kinda feel for those that are being finished that are in 20s- 60,s that still need to work.