How many of you are retired or thinking about it.

Page may contain affiliate links. Please see terms for details.

bobg

Über Member
For all you youngsters under 50 out there, DON'T WISH YOUR LIFE AWAY. It comes quickly enough and sure, enjoy it when it arrives but please make sure you get something good from every day while you can.
 

Orange

Active Member
Location
Northamptonshire
Assuming the mortgage is finished and the kids have gone, for those who have retired early and before pension age, how have you done it? Taken a private pension early - that would probably be very expensive? Living off the pension lump sum and delaying the annuity? Living off other savings built up over the years? Assuming you are not yet drawing a private or company pension, roughly how much per year are people able to get by on (no need to be too accurate with personal information)? Is this from savings and therefore you've worked out you have X number of years of this amount to last you - or do you have to top it up by part-time work? Or have you sold a property big and bought small?
Lots of questions I know but I am just interested in how people have approached it and made it work.
 

snorri

Legendary Member
Lots of questions I know but I am just interested in how people have approached it and made it work.
I did not approach retirement as part of a long term plan, it approached me and I realised I could afford it.
I think many people retiring in recent years have just been very fortunate to have entered the jobs market when they did (born at the right time!). Then obtained steady employment, which was much easier in the 60s, and earned sufficient to allow them to put some money aside during a period when interest rates and returns on investments were higher, and buy a house before house prices rocketed.
 

Hicky

Guru
My father inlaw has just retired, he has less time on his hands because the Mother inlaw now has no excuse not to pester him to finish/start the jobs she's always wanted doing(most arent even needed).....work now sees like an escape!
My boss retires in three years and is looking forward to it !!
My private pension(my employer wont accept anyone unless they takeon or prove they have pensions!) kicks in 2037....too busy enjoying today....I'm lucky to have my great job but will be sad to see the boss go he's a cracking bloke!
 

gavroche

Getting old but not past it
Location
North Wales
Well, I own a property in France and am considering selling it to pay off my mortgage and other debts so to be debt free and just work for money I need. Then I should also be able to travel to parts of France I would like to show my wife. Going over to Normandy next February to see estate agent.
 

Orange

Active Member
Location
Northamptonshire
Oh and unless you were born before 1953 don't think you'll be picking up your state pension as early as 65 either. Any youngsters around - you may have to wait until 70 - or possibly not even qualify for one at all.
Well I didn't expect it to happen that quickly - George Osborne has moved the goalposts today. It was going to be 2034 that the state pension age started to rise to 67 - he's today moved it to April 2026. That's caught me out. :sad:
 

yello

back and brave
Location
France
Assuming the mortgage is finished and the kids have gone, for those who have retired early and before pension age, how have you done it? .

In my case, there was no plan. Just luck.... and no kids!

I was a computer programmer and worked contract. So I was able to save a tidy sum, particularly during around year 2000. I bought an ex-council flat (hate me) in east London that I sold for a decent profit when I met my wife. She had her own place at that time and she sold that. Our combined resources enabled us to buy a central London flat with sod all mortgage. That almost trebled in value in the 10 years we owned it. So when we sold up, and cleared the mortgage, we were left with sufficient to retire on.... so long as we don't go buying new cars etc etc. All luck. Mainly due to property prices.

I haven't an ounce of financial nouse really, I'm just naturally frugal and have been lucky.
 

ASC1951

Guru
Location
Yorkshire
I was a computer programmer and worked contract. ...... So when we sold up, and cleared the mortgage, we were left with sufficient to retire on.... . All luck. Mainly due to property prices.
Go on then, re-post that in Current Affairs and Debates - I dare you! You would be able to surf back to Cafe on the wave of vitriol.
 
Top Bottom