How long before you can retire?

[Lullabelle]

That's a very detailed hair washing routine you've got to know that you're washing your hair on the day I retire in 20 years. A wee bit OCD if you ask me

Forward planning

 

[Pat "5mph"]

These retirement threads are coming up to often for my liking, I'm mighty jealous!
Never for me, I'll always will have to work at least 3 days a week I recon
Well, if I keep living in this expensive country that is

 

[Ian H]

I sold the business about ten years ago, which was the end of full-time work. I now do a few different jobs during the week, with the proviso that I mostly get a four-day weekend. Not having mortgages is bliss. I feel for younger folk than me, whose financial commitments seem to be far more onerous than mine ever were.

 

[Jimidh]

I'm 50 now and could retire in a few years if I wanted to but I'm still happy working at the moment.

I suspect i'll probably cut back hours rather than retire competely.

 

[biggs682]

soon as i can afford to ...

mortgage is all but paid up , a couple of pensions but not enough

will keep working for now and keep doing the maths

 

[Cubist]

I was originally scheduled to retire in July 17, but because the accident last year has delayed my hip replacement, work has finally lost patience and referred me for a medical retirement decision. I should know in a couple of months time. Mortgage has been paid off, my pension payments mean I'll be able to support the kids through Uni. I'll be looking for a part time job of nothing else because I'll go batshit if I'm stuck at home any longer.

 

[Piemaster]

I retired at 33 or 28 years ago, I enjoy what I do every day and draw a nice wedge for doing so, I would not call it work such as I did with my car sites.

That still sort of sounds like work to me - doing something and being remunerated for it. But then if it doesn't actually feel like work I wouldn't be complaining either

 

[SpokeyDokey]

Retired at 48 bored by 49. Set up a lifestyle business, that pays surprisingly well, to alleviate the boredom.

No mortgage, no debt, no credit cards, enough money to see me out.

Work doesn't feel like work and it keeps me in touch with a wide range of people - love it!

Best of both worlds (retirement & work) for me.

 

[Dave Davenport]

Retired at 48 bored by 49. Set up a lifestyle business, that pays surprisingly well, to alleviate the boredom.

No mortgage, no debt, no credit cards, enough money to see me out.

Work doesn't feel like work and it keeps me in touch with a wide range of people - love it!

Best of both worlds (retirement & work) for me.

Oh F off!

 

[SpokeyDokey]

I never had a plan..for my pension, or life in general...i just go with the flow.
57 now, retire at 66 I think, mortgage will be paid off at 60...I got a bit in company pnsions but one of those is frozen, the other wont have accumulated much and I did pay into serps for years the it stopped without me realising when I changed jobs...I dont know if the money I did accumulate is still added to my state pension.

I'll probably work on for a couple years...I dont have a plan for retirement either, just amble along,

@gbb

As you are now over 55 you can apply (online) for a State Pension Forecast - takes about 10 days to arrive.

You will be assessed under the old scheme that has just ended and the new one that has just started. Obviously the number of NI contribution years that you have made will be applicable in both schemes. You will receive the higher of the two assessments.

Your SERPS payments will be factored in as additional pension. However, if you were 'contracted out' your pension will be reduced as you will have paid lower NI contributions during that period.

My State Pension Forecast was higher under the old scheme @ £11800 but is to be reduced to £8800 (still higher than the new flat rate scheme) due to my being contracted out for 9 years.

Hope this helps - get your forecast and you'll know exactly where you stand.

 

[Jenkins]

February 7th 2025 (unless they pay me off earlier and don't reduce the pension).

 

[gbb]

@gbb

As you are now over 55 you can apply (online) for a State Pension Forecast - takes about 10 days to arrive.

You will be assessed under the old scheme that has just ended and the new one that has just started. Obviously the number of NI contribution years that you have made will be applicable in both schemes. You will receive the higher of the two assessments.

Your SERPS payments will be factored in as additional pension. However, if you were 'contracted out' your pension will be reduced as you will have paid lower NI contributions during that period.

My State Pension Forecast was higher under the old scheme @ £11800 but is to be reduced to £8800 (still higher than the new flat rate scheme) due to my being contracted out for 9 years.

Hope this helps - get your forecast and you'll know exactly where you stand.

Sincere thanks for that. ? I really do just go with the flow, I'm terrible at planning and really should and will get a forcast. The sum I have frozen in one pension is about £25k...probably not much in pension terms, but aqain, that really should be switched I guess into an active pension.

 

[hopless500]

Sincere thanks for that. ? I really do just go with the flow, I'm terrible at planning and really should and will get a forcast. The sum I have frozen in one pension is about £25k...probably not much in pension terms, but aqain, that really should be switched I guess into an active pension.

I sent off for a pension forecast over 2 weeks ago. Still not got it yet

 

[tyred]

Probably when I'm 137 with the way things are going.

Mind you, my boss probably thinks I already have retired

 

[GM]

I should have retired 18 months ago when I was 65, but I deferred my state pension for 3 years. I was told that I'll get a good government interest rate on it, hope they were right. Might still carry on working though, I get bored very easily doing nothing.