How long before you can retire?

[sarahale]

He should get a part-time job or a hobby/hobbies, join a club, etc. Sounds like he needs 'something' to do.

I'm trying to motivate him to do something but he just has no interest, I offer to go for a walk with him or a gentle cycle but he makes up an excuse. I think part of him has given up

 

[burndust]

After re-mortgaging my house and reviewing all my finances and doing some maths etc, looks like I can retire, quite comfortably, at 55. That`s when everything seems to come together and would be a good time to make the break. Yes it`s 15 years away, but I`m actively looking forward to it, and it`s a short time compared to the unlucky sods that are just leaving school now.

Being active, I`ll always be busy, and even when I`m trapped indoors I have plenty of wet weather pastimes.

I can`t wait!!

looks like it will be 70 for me....which is 35 years away!!...

 

[burndust]

It's now really close, eight days and I get the odd doubt like why am I walking away from a fairly well paid job, ten weeks A/L and then I think of the stress that goes with it, the two and a half hour commute each way (and more recently) the changes to working practices, the night shifts and I then see sense. Money isn't everything , it can't buy you time.

10 weeks annual leave...jeez is that all lol

 

[Incontinentia Buttocks]

8 years 4 months I'll be 55. Planned it so should have no mortgage,a lump sum in the bank to pay for daughters uni and my partner has to work for another 9 years as shes younger than me. I don't want to wish away those years as who wants to get older, but looking forward to the next stage of life when it duly arrives.
Cycling, adventuring and living will be the order of the day.

 

[Accy cyclist]

A few friends of mine have retired. Most retired early claiming their works pension but they're too young to claim the state pension. You can tell they have less money coming in as they don't go down the pub as much as they did and when they do they buy fewer pints. They also tend to shuffle around the town aimlessly. One of them has sunk into depression. He worked as a psychiatric nurse. He's now become a hoarder(collecting and saving all sorts of crap)and he rarely answers the door or the phone according to those i've spoken to about him. I don't think it's financial problems causing his depression as he has an inherited house to sell if he wants and a decent pension from when he worked in Australia and Canada. I've told him to get a dog or a cat for company(he has no family) but he says he likes living alone.

 

[sarahale]

Has he seen his GP? He sounds depressed, in an anhedonic way, now his reason to get up and go out every day isn't there any more.

No and not a chance of getting him to see one but most likely he is. Just such a shame as he's worked hard and now is his time to enjoy his hard earned savings.

 

[2IT]

A potential problem with retirement plans are your spouse's plans. Here in the States it's too common for the wife to want a divorce and cash out at your peak.

This could put off your retirement or have you living on less than planned.

Beware.

 

[Dave 123]

I'm trying to motivate him to do something but he just has no interest, I offer to go for a walk with him or a gentle cycle but he makes up an excuse. I think part of him has given up

Is he single? Does he have someone else other than you to give him a prod?

Does he have grandchildren that he could build a dolls house/fort/ treehouse/go kart for?

 

[Dave 123]

A potential problem with retirement plans are your spouse's plans. Here in the States it's too common for the wife to want a divorce and cash out at your peak.

This could put off your retirement or have you living on less than planned.

Beware.

That's why I've never reached my peak.

 

[iandg]

Currently on 30 years service and I'm still on my original NHS scheme so can go at 60 - less than 5 years now.

All my kids should be through uni/higher education by then and the mortgage will be paid off when I reach 62.

 

[Paulus]

I can go any time I choose to. The mortgage was paid up 5 years back, The kids are off on their own and MrsP works part time these days. Although I am nearly 59 I could go on a reduced pension but I have done the maths and I could live reasonably well. I plan to do another year and go at 60, although if the boss gives me a hard time, I have warned him,(half jokingly) that I can walk.

 

[Dirk]

A few friends of mine have retired. Most retired early claiming their works pension but they're too young to claim the state pension. You can tell they have less money coming in as they don't go down the pub as much as they did and when they do they buy fewer pints. They also tend to shuffle around the town aimlessly........

That's what I did; took works pension at 60. Missus retired at the same time, but at 58.
We seem to go out more now than we ever did. We certainly have more liquid assets than we've ever had in our lives before. We manage to live within our pension incomes quite comfortably. Our aimless shuffling is done on our bikes.
My state pension kicks in in 4 1/2 years time; wife's a year later. At our current rate of spending we will have more than half of our joint lump sums left in 5 years time, with all major planned expenditure accounted for. The state pension will basically be free pocket money.
I never thought I would end up carefree and solvent all the time I was working.

 

[2IT]

It is also quite common for the husband to decide to trade the current wife in for a younger model, leaving the current wife bereft both materially and psychologically after a lifetime of marriage.

As you say, 'This could put off your retirement or have you living on less than planned.

Beware.'

True. A 50/50 split seems right unless there is a prenup.

Where I live there is a bias in favor of the poor little woman and a "fair " split. The more you have the longer the lawyers will keep the fight going. Or one side could be vindictive to keep it going.

Beware.

 

[2IT]

It is also quite common for the husband to decide to trade the current wife in for a younger model, leaving the current wife bereft both materially and psychologically after a lifetime of marriage.

As you say, 'This could put off your retirement or have you living on less than planned.

Beware.'

PS over here about 80% of divorces are filed by women as they do have a history of financial success on their side.

 

[Haitch]

PS over here about 80% of divorces are filed by women as they do have a history of financial success on their side.

And men presumably a history of being inadequate husbands.