Retirement

[stefanovic]

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.

 

[clubchamp98]

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

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!

 

[GreiginFife]

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!

Or resisting the urge to?

 

[clubchamp98]

Or resisting the urge to?

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.

 

[Swinglowandslow]

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.

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.

 

[backwoodsman]

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

 

[williamalex1]

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

My mother worked an overhead crane during the 2nd World War.

 

[Tashyboy]

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.

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.

 

[clubchamp98]

My mother worked an overhead crane during the 2nd World War.

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.

 

[clubchamp98]

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

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 !

 

[williamalex1]

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.

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.
.

 

[Tashyboy]

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.

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.

 

[clubchamp98]

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.
.

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.

 

[clubchamp98]

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.

Yes history lesson for the lad.
Big respect for miners I don’t think I could do that.
I don’t like tight spaces.

 

[Tashyboy]

Yes history lesson for the lad.
Big respect for miners I don’t think I could do that.
I don’t like tight spaces.

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. ?

 

[clubchamp98]

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. ?

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

 

[Tashyboy]

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

 

[Crazyface]

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.

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

 

[Tashyboy]

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.

 

[SwingsitlikeHogan]

…
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.

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.