FabSwingers.com > Forums > The Lounge > Early Retirement
Early Retirement
Jump to: Newest in thread
 |
By *os19 OP Man
over a year ago
Edmonton |
I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *os19 OP Man
over a year ago
Edmonton |
"Would it not be a good idea to wait and see if the economic climate settles down a bit?
Or perhaps you’ve already considered that"
. I have already considered that and the increase in utility bills |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *eisty LadyWoman
over a year ago
Count Your Blessings Cottage, Gratitude Grove |
I stopped working 7 years ago, just do the occasional bit of consulting if the mood takes me. I knock back 99% of work offers
If you can afford it, I’d say do it
If you don’t like it then you could get another job |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Would it not be a good idea to wait and see if the economic climate settles down a bit?
Or perhaps you’ve already considered that. I have already considered that and the increase in utility bills "
That’s fine then and if you think you have it covered for a couple of years then it’s a no brained ….. good luck  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I stopped working 7 years ago, just do the occasional bit of consulting if the mood takes me. I knock back 99% of work offers
If you can afford it, I’d say do it
If you don’t like it then you could get another job"
Definitely, a plan B would be good if it doesn't work out for him x |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I retired at 51 and don't regret it for a single moment, although I'm busier now than I ever was at work but with stuff I want to do. The best bit of advice I got was from my accountant. Pay everything off including mortgage, then work out how much money you will need until you're 80, and double it. If you have that money - go for it and enjoy your life. If worst comes to worst, you always have the value of your house. |
Reply privately, Reply in forum +quote
or View forums list | |
I think we would all understand the yearning to not be 'owned' by an employer any longer, especially at 55 when you can't really be arsed to play the game at work any longer. I would suggest it's a good move but you really should have a good plan made so that you don't fall into any bad routines, drinking etc., as you will suddenly have all day every day on your hands. If it were me, I would spend every day doing some sport, swimming, running and keep a part time, enjoyable job going, not for the money but more for the sense of purpose. Something that aligns with existing hobbies. Good luck! |
Reply privately, Reply in forum +quote
or View forums list | |
Yes, great idea. I did this , and have a life of freedom to do as i wish. I dont like the word "retired", as i couldnt imagine doing nothing all day. I retrained, in an area i was always passionate about, and now have a thriving, one man business, where i work just a few days a week. You'll pay less tax, so you may have more in your pocket than you think. I take August and September off to go walkabout. Best of luck. |
Reply privately, Reply in forum +quote
or View forums list | |
We retired at 57. I'd recommend it to anybody who has a lively mind, plenty of interests or the desire to discover new ones. We have genuinely never looked back.
The time to read, pursue hobbies, to go out whenever you want, spend time with family etc is invaluable |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I retired at 51 and don't regret it for a single moment, although I'm busier now than I ever was at work but with stuff I want to do. The best bit of advice I got was from my accountant. Pay everything off including mortgage, then work out how much money you will need until you're 80, and double it. If you have that money - go for it and enjoy your life. If worst comes to worst, you always have the value of your house."
This is the bit that confuses me. How can I know how much money I would need?
The utility, food and petrol prices all going up at the moment make it all worrying.
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I'm a self employed plasterer and will work until I can't I just love working for myself and enjoy the job and the pay is good and always busy I couldn't imagine not working think I would get bored but if I could afford it I probably would retire haha |
Reply privately, Reply in forum +quote
or View forums list | |
"I think we would all understand the yearning to not be 'owned' by an employer any longer, especially at 55 when you can't really be arsed to play the game at work any longer. I would suggest it's a good move but you really should have a good plan made so that you don't fall into any bad routines, drinking etc., as you will suddenly have all day every day on your hands. If it were me, I would spend every day doing some sport, swimming, running and keep a part time, enjoyable job going, not for the money but more for the sense of purpose. Something that aligns with existing hobbies. Good luck! "
I don't think everyone needs a job to give them purpose. I know people say that work gives them purpose and I believe that for them it's true but it's not for me. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I think we would all understand the yearning to not be 'owned' by an employer any longer, especially at 55 when you can't really be arsed to play the game at work any longer. I would suggest it's a good move but you really should have a good plan made so that you don't fall into any bad routines, drinking etc., as you will suddenly have all day every day on your hands. If it were me, I would spend every day doing some sport, swimming, running and keep a part time, enjoyable job going, not for the money but more for the sense of purpose. Something that aligns with existing hobbies. Good luck!
I don't think everyone needs a job to give them purpose. I know people say that work gives them purpose and I believe that for them it's true but it's not for me. "
Agree |
Reply privately, Reply in forum +quote
or View forums list | |
Just decided to do the same. I can always do a bit here and there if need be but the freedom of not going to work outweighs everything. Didn't want to be one of those who had to work till near 70 before having time to myself. Do it op and enjoy it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I retired at 51 and don't regret it for a single moment, although I'm busier now than I ever was at work but with stuff I want to do. The best bit of advice I got was from my accountant. Pay everything off including mortgage, then work out how much money you will need until you're 80, and double it. If you have that money - go for it and enjoy your life. If worst comes to worst, you always have the value of your house.
This is the bit that confuses me. How can I know how much money I would need?
The utility, food and petrol prices all going up at the moment make it all worrying.
"
Nothing more than best guess really, and smart investments. |
Reply privately, Reply in forum +quote
or View forums list | |
Go for it! I can retire next July when 66! And wo t hesitate to do so! Won't have much money but do t have much now so no different! But I'm very frugal and my hobbies are free so will make most of it x |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *idanMan
over a year ago
borehamwood |
I retired when I was nearly 55 and have never regretted it. I thought if I got bored then I'd do some voluntary work but it's not happened yet. It's a great feeling when you wake up thinking not 'what am I going to do today' but 'am I going to do today'. I'd say if you can afford it then do it, no point being the richest person in the graveyard! |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *avie65Man
over a year ago
In the west. |
"I retired at 51 and don't regret it for a single moment, although I'm busier now than I ever was at work but with stuff I want to do. The best bit of advice I got was from my accountant. Pay everything off including mortgage, then work out how much money you will need until you're 80, and double it. If you have that money - go for it and enjoy your life. If worst comes to worst, you always have the value of your house.
This is the bit that confuses me. How can I know how much money I would need?
The utility, food and petrol prices all going up at the moment make it all worrying.
"
I was listening to the radio last night, rock n roll eh, at there was a bit about pensions. For a single person just to get by the woman said £12k and £18k for a couple. It increase to about £19k & £26k to include holidays and a social life. I didn't hear all of it as I was driving. |
Reply privately, Reply in forum +quote
or View forums list | |
Our children have seen how happy we are and are aiming to do the same as us if possible.
I would say though don't defer doing the things you love to save for a future that's promised to no one. Often the people who struggle the most with retirement are the ones who saved the hardest for it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
Do it, you aren’t going to get a better chance and in the spare time you can pursue whatever you are passionate about, when you love what you do it’s not a job is it |
Reply privately, Reply in forum +quote
or View forums list | |
Op ask if you can reduce work days for a salary cut. Someone I know started 4 days a week for a while. However totally understand if you want to finish fully. I never looked back since leaving the office and going freelance. |
Reply privately, Reply in forum +quote
or View forums list | |
"I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets."
I'd say definitely do it, I should have been semi retired at 55, but life always changes. I was certainly fitter at that age than now, so go for it! |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *os19 OP Man
over a year ago
Edmonton |
Thank you to everyone that took the time out to contribute on this thread.It does seem the majority feel it’s a good thing to call it a day.Although there was one comment that has been removed. I feel like I can afford it as although not rich I have always been more saver than spender. I can take partial retirement where by I work say 2 days and I receive the rest as a pension but the way I have been treated of late and been a all or nothing type of guy this does not interest me nor doing a part time job and doing someone out of a salary or extra hours out of a job. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I retired at 51 and don't regret it for a single moment, although I'm busier now than I ever was at work but with stuff I want to do. The best bit of advice I got was from my accountant. Pay everything off including mortgage, then work out how much money you will need until you're 80, and double it. If you have that money - go for it and enjoy your life. If worst comes to worst, you always have the value of your house.
This is the bit that confuses me. How can I know how much money I would need?
The utility, food and petrol prices all going up at the moment make it all worrying.
I was listening to the radio last night, rock n roll eh, at there was a bit about pensions. For a single person just to get by the woman said £12k and £18k for a couple. It increase to about £19k & £26k to include holidays and a social life. I didn't hear all of it as I was driving. "
The Wireless. 
That's helpful, thank you. Wish I knew my expiry date then I could plan better. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets."
Ive been thinking about it maybe 53 or 54. Although I work from home I do quite a lot of international 150-250 days a year and it’s sometimes too much. I love the travel but want to spend more time doing photography and recently started to set up a jewellery workshop.
I guess if you don’t need the money and don’t like your job it’s a no brainier. I love my job just would like a bit more free time before I’m too old.
If I work Dubai hours when in the uk I can be done by 2-3pm each day but then knackered by 10/11 and can get away and work from AirBnB etc but there’s no getting away from working 7-8 hours 5 days a week with just 30 days holidays. Would happily take half the hours for half the pay but it’s never gonna happen |
Reply privately, Reply in forum +quote
or View forums list | |
"In today's world, pretty sure 80% of the economy will work till the day they die sadly. Congrats to the other 20% ,if you have the means to retire then do it. Life is to short."
I have no means whatsoever to retire next year when I'm 66! Shall b claiming state pension and the shortfall will hopefully b made up with pension credit I'm not carrying on working past pension age I've worked my whole adult life since leaving school even when having children! I will sink or swim! My dad took early retirement at 60 and died at 68 had he not he would have not had those few years doing his own thing nothing elaborate his garden and his cycling! Much like I intend really x |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
Im 44 and I plan to retire between 55 and 60, but I think I would always have a part time job doing something, just to keep a routine and the brain active.
I know quiteca few people who retired and ended up boted and depressed because they didnt have anything to do. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *os19 OP Man
over a year ago
Edmonton |
So just a bit of a update really. I was 55 a couple of weeks ago and after getting some advice from family members and a lady at work who is often referred to as my work wife yesterday I gave my manager a letter saying I am considering retirement and would like a pension forecast before saying yes or no.My manager genuinely doesn’t want me to go my work wife doesn’t want me to go but both can see where I am coming from when I say although I don’t know how to fill my days when I retire I know I don’t want to be in work and for me that is a start. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets."
I retired aged 55 and it was the best decision of my life
Now got a healthy pension, rental income from 2 properties and a part time job
Travelling tbe globe as of November 2024 and intend to spend 5 years at it
Can't wait
Good luck op |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"So just a bit of a update really. I was 55 a couple of weeks ago and after getting some advice from family members and a lady at work who is often referred to as my work wife yesterday I gave my manager a letter saying I am considering retirement and would like a pension forecast before saying yes or no.My manager genuinely doesn’t want me to go my work wife doesn’t want me to go but both can see where I am coming from when I say although I don’t know how to fill my days when I retire I know I don’t want to be in work and for me that is a start."
I retired just after my 50th birthday and I'm busier than I've ever been in my life. We moved house and I spend a lot of time on projects I've always wanted to do. I did a woodworking course and I make all sorts of bits, from furniture to bird houses. I do a bit of volunteering, but the best thing about it is that nobody tells me what to do with my precious time. Before we moved to the countryside, the most pleasurable sound in the world was the sound of other people scr*ping (I can't use that word!)ice off their cars whilst I was warm and snug in my bed  You only get one life - spend it doing what makes you happy, if you can afford it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *TG3Man
over a year ago
Dorchester |
"I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets."
Don't do it you know what will happen, your body needs the stress that work creates, if you stop your body will stop  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I retired when I hit 45. But took up photography as a hobby. Now make money from that. So Help out charities. Make sure you fill your days with something useful and you enjoy |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *orny PTMan
over a year ago
Peterborough |
"Lucky you if you do it! If I had that sort of money, I would do it too x"
A happy early retiree, leaves the door open for someone new to enter the workforce and fill that junior role, this should have a positive domino effect.
Get the most out of life and enjoy your retirement. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into. |
Reply privately, Reply in forum +quote
or View forums list | |
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into. "
It's always worth paying into a private pension. You will be very happy you did when you reach pension age |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ornycougaWoman
over a year ago
Wherever I lay my hat |
"I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets."
Doing it right now. I'm done with the office politics, the back stabbing, the cockwombles at work ignoring my advice then blaming me when the shit that I told them was going to happen actually happens, the long hours, the sleepless nights, the interrupted holidays, the stress related psoriasis. Will I miss the salary? Hell yeah. But I there is more to life than money and I want to enjoying whilst I can and definitely don't want to be the richest person in the graveyard. As soon as I took control of my own destiny I felt like a massive weight had been lifted. If you can, do it! |
Reply privately, Reply in forum +quote
or View forums list | |
"I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets."
Over rated I retired at 45 and got board and depressed.
Got tolled by my physiologist to get a job t give me a purpose to life.
Back to 100 hours plus a week don't have to do it but it's what's makes me tick.
I do have an an additive personality so for me if its not work its alcohol so work helps me.
If you can handel the below down go for it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age"
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age. |
Reply privately, Reply in forum +quote
or View forums list | |
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age."
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
|
Reply privately, Reply in forum +quote
or View forums list | |
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age."
If you look at Martin Lewis the Money program he has a simple gauge so your 42 half that 21 so you should be paying in 21% of you sallery the sooner you start the better at 20 you only need 10% that's yous plus company top up |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
"
And you retired when you were 55? I imagine you paid in fortune in, in that time |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
If you look at Martin Lewis the Money program he has a simple gauge so your 42 half that 21 so you should be paying in 21% of you sallery the sooner you start the better at 20 you only need 10% that's yous plus company top up "
Well I work for myself. I phoned several private pension things and it was peanuts for pension. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I started up payments again into my private pension as I haven't put into it for years. I know I'm playing catch up so I'm a bit concerned for the future years x |
Reply privately, Reply in forum +quote
or View forums list | |
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
And you retired when you were 55? I imagine you paid in fortune in, in that time "
57. No I didn't pay a fortune in and I couldn't live in my private pension but I couldn't live on my state pension so I'm damn glad I've got extra.
We sold our house and downsized to retire early |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
And you retired when you were 55? I imagine you paid in fortune in, in that time
57. No I didn't pay a fortune in and I couldn't live in my private pension but I couldn't live on my state pension so I'm damn glad I've got extra.
We sold our house and downsized to retire early"
If you had paid more into state pension wouldn't it have been more ? I'm not sure how it works.
I guess you wanted to get some pension coming in before state pension.
I shall ask about about it again, but I can't see it being any good for me as I've been through it so many times. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
And you retired when you were 55? I imagine you paid in fortune in, in that time
57. No I didn't pay a fortune in and I couldn't live in my private pension but I couldn't live on my state pension so I'm damn glad I've got extra.
We sold our house and downsized to retire early
If you had paid more into state pension wouldn't it have been more ? I'm not sure how it works.
I guess you wanted to get some pension coming in before state pension.
I shall ask about about it again, but I can't see it being any good for me as I've been through it so many times."
Thought you didn't qualify for state pension yet |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *rMonkeyMan
over a year ago
Somewhere |
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
And you retired when you were 55? I imagine you paid in fortune in, in that time
57. No I didn't pay a fortune in and I couldn't live in my private pension but I couldn't live on my state pension so I'm damn glad I've got extra.
We sold our house and downsized to retire early
If you had paid more into state pension wouldn't it have been more ? I'm not sure how it works.
I guess you wanted to get some pension coming in before state pension.
I shall ask about about it again, but I can't see it being any good for me as I've been through it so many times."
The amount of state pension you get is based on the number of qualifying years NI you paid.
Minimum 10 years to get anything at all, if you pay 35 years full qualifying NI you get the full state pension. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oding1Man
over a year ago
marlow |
"If you can truly afford it, and you have something to fill the acres of time you'll have, I'd say do it.
However sitting in doors in the winter with naff all to do is not healthy.
Been retired for 15 years now.
Best time of my life, I believe that you need 3 hobbies to keep you fully occupied. I don't know how I found time to work. As for sitting in doors in the winter, well I live in South Africa and rent my house out.
Go for it!
"
 |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
And you retired when you were 55? I imagine you paid in fortune in, in that time
57. No I didn't pay a fortune in and I couldn't live in my private pension but I couldn't live on my state pension so I'm damn glad I've got extra.
We sold our house and downsized to retire early
If you had paid more into state pension wouldn't it have been more ? I'm not sure how it works.
I guess you wanted to get some pension coming in before state pension.
I shall ask about about it again, but I can't see it being any good for me as I've been through it so many times.
The amount of state pension you get is based on the number of qualifying years NI you paid.
Minimum 10 years to get anything at all, if you pay 35 years full qualifying NI you get the full state pension."
I heard something along those lines before.
I know someone who never paid a penny and still gets a small state pension. He makes up for it with universal credit or something like that. |
Reply privately, Reply in forum +quote
or View forums list | |
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
And you retired when you were 55? I imagine you paid in fortune in, in that time
57. No I didn't pay a fortune in and I couldn't live in my private pension but I couldn't live on my state pension so I'm damn glad I've got extra.
We sold our house and downsized to retire early
If you had paid more into state pension wouldn't it have been more ? I'm not sure how it works.
I guess you wanted to get some pension coming in before state pension.
I shall ask about about it again, but I can't see it being any good for me as I've been through it so many times.
Thought you didn't qualify for state pension yet "
66 is state pension age, I qualified when I reached that. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
And you retired when you were 55? I imagine you paid in fortune in, in that time
57. No I didn't pay a fortune in and I couldn't live in my private pension but I couldn't live on my state pension so I'm damn glad I've got extra.
We sold our house and downsized to retire early
If you had paid more into state pension wouldn't it have been more ? I'm not sure how it works.
I guess you wanted to get some pension coming in before state pension.
I shall ask about about it again, but I can't see it being any good for me as I've been through it so many times.
Thought you didn't qualify for state pension yet
66 is state pension age, I qualified when I reached that. "
Oh, I see |
Reply privately, Reply in forum +quote
or View forums list | |
"I would do it if I could afford it.
Wish I could retire at 55. I guess many of you had private pensions from a young age.
I seen about that, but at my age it just wasn't worth paying into.
It's always worth paying into a private pension. You will be very happy you did when you reach pension age
Well I couldn't see it when I inquired about it. Big pay in for very little back.
I asked my accountant about this recently who is the same age as me, and he said it isn't worth it at our age.
Well he's the expert and he knows what he's talking about. All I'll tell you is that I started a private pension at around 42 and I'm extremely glad that I did.
And you retired when you were 55? I imagine you paid in fortune in, in that time
57. No I didn't pay a fortune in and I couldn't live in my private pension but I couldn't live on my state pension so I'm damn glad I've got extra.
We sold our house and downsized to retire early
If you had paid more into state pension wouldn't it have been more ? I'm not sure how it works.
I guess you wanted to get some pension coming in before state pension.
I shall ask about about it again, but I can't see it being any good for me as I've been through it so many times.
Thought you didn't qualify for state pension yet
66 is state pension age, I qualified when I reached that.
Oh, I see "
Free bus pass too |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *os19 OP Man
over a year ago
Edmonton |
"20 working weeks left till I retire x"
. I have been told it can take up to 4 months to get a accurate pension forecast that I have asked for at that rate I think we will be retiring at about the same time
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *lueFireCouple
over a year ago
just somewhere around here |
If I could stop work now I would at the drop of a hat...I'm only 53 but 5am get ups for the last 35+ years have taken their toll ..but I'm not in the financial position to do so  |
Reply privately, Reply in forum +quote
or View forums list | |
"20 working weeks left till I retire x. I have been told it can take up to 4 months to get a accurate pension forecast that I have asked for at that rate I think we will be retiring at about the same time"
I did ring for state pension application but apparantly has to b 3 months b 4 retirement to apply x |
Reply privately, Reply in forum +quote
or View forums list | |
I'm sixty, if I could afford it I'd jack it all in,I have just under seven years left until my retirement age, I will have three pensions, however who knows if they'll be enough to live on when the time comes..
|
Reply privately, Reply in forum +quote
or View forums list | |
"Don't know how I found time to go to work
Keep active and don't sit watching day time telly was the advice I was given "
Yes tell myself this! As I cycle to and from work and is a very active physical job I need to keep that up x |
Reply privately, Reply in forum +quote
or View forums list | |
"I'm sixty, if I could afford it I'd jack it all in,I have just under seven years left until my retirement age, I will have three pensions, however who knows if they'll be enough to live on when the time comes..
"
I'm not thinking like that! Will only have state pension to live on will sink or swim as I'm not continuing past July x |
Reply privately, Reply in forum +quote
or View forums list | |
I gave up just before hitting 62 so have been at home for just over a year. To be honest I'm a bit bored and lonely. It sounds great but that daily routine goes and it takes time to find a new routine and things to do. I've made a new year's resolution that I need to find new friends and get involved in local things (rather than being on here!). |
Reply privately, Reply in forum +quote
or View forums list | |
"I gave up just before hitting 62 so have been at home for just over a year. To be honest I'm a bit bored and lonely. It sounds great but that daily routine goes and it takes time to find a new routine and things to do. I've made a new year's resolution that I need to find new friends and get involved in local things (rather than being on here!). "
Good idea must b groups u can join local x |
Reply privately, Reply in forum +quote
or View forums list | |
"Don't know how I found time to go to work
Keep active and don't sit watching day time telly was the advice I was given
Yes tell myself this! As I cycle to and from work and is a very active physical job I need to keep that up x"
Bit nicer when you can choose to rather than have to I started swimming again after many years break |
Reply privately, Reply in forum +quote
or View forums list | |
Well we are just about to renew our mortgage and worked out that we will have to work until we are 70.
So if you can afford it go for it.
I'm 55 this year started working at 15 never had a break other than holiday and illness & a short 3 week's after being made redundant when the credit crunch hit.
Other than that getting on 40 year's in the building trade and I'm fucked,every day getting out of bed is a struggle.
Bad financial choices made in the early 2000's have left us in debt rather than everything being payed off as it should have been.
So go for it,I bloody would. |
Reply privately, Reply in forum +quote
or View forums list | |
Cos if you can do it bud time is going faster I retired at 60 health reasons never looked back if you have a few bob spend it mate your a long time dead and just look back twenty years how fast has that passed us by, just do it and *uck the consequences live for the now, good luck |
Reply privately, Reply in forum +quote
or View forums list | |
"Don't know how I found time to go to work
Keep active and don't sit watching day time telly was the advice I was given
Yes tell myself this! As I cycle to and from work and is a very active physical job I need to keep that up x
Bit nicer when you can choose to rather than have to I started swimming again after many years break "
Love sea swimming! When I get my bus pass can hope on bus and spend the day swimming just down the road x |
Reply privately, Reply in forum +quote
or View forums list | |
"Don't know how I found time to go to work
Keep active and don't sit watching day time telly was the advice I was given
Yes tell myself this! As I cycle to and from work and is a very active physical job I need to keep that up x
Bit nicer when you can choose to rather than have to I started swimming again after many years break
Love sea swimming! When I get my bus pass can hope on bus and spend the day swimming just down the road x"
Long bus trip for me to reach the sea over 70 miles
At least we have a brine pool in Walsall baths
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *100Man
over a year ago
Essex |
Lucky you go for it
Can’t see me ever retiring we decided my wife would bring up our children 23 years ago and we still enjoy her being at home and so does she now the children have grown up she gets more time for herself but now our parents need more attention so she helps them a bit more too.
Financially all our money is in our properties not really wanted to rack up loads of debt on buy to let just in case anything goes wrong tax wise I don’t trust the government not to take all my profits in tax |
Reply privately, Reply in forum +quote
or View forums list | |
Some people are so lucky.
I'm 65 and will have to work til I die. I had to start again on the property ladder 20 years ago due to divorce (naturally she had the house!).
I met someone else, and had more children. So I'm 20 years out of step with other guys my age. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *amantMan
over a year ago
Alnmouth |
My grandfather retired early. He packed in before what he did was privatised and from what he was saying, if he'd stayed he'd have made a lot more. But I always say, if he hadn't he might not have lasted long as long as he has. It's awfully greedy of me to think like this, I know. But because he took early retirement, I had the best grandfather I could ask for.
As it is now, pensions are pointless for a lot of people. We appear to have just accepted an awful lot of people will have to work until they can't. That'll be me probably and a few million others. Why is it the French retire earlier than us and get more when they do? It just seems like an absolute ponzi scheme over here for no good reason |
Reply privately, Reply in forum +quote
or View forums list | |
"Some people are so lucky.
I'm 65 and will have to work til I die. I had to start again on the property ladder 20 years ago due to divorce (naturally she had the house!).
I met someone else, and had more children. So I'm 20 years out of step with other guys my age. "
I could think like that but refuse to keep working till I drop! I will have just the state pension! No private ones! But will just have to manage! I'm finishing in July when I'm 66 x |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
It’s having the balls to say ,”that’s it” , I am done working
I could retire , but keep taking one more scheme as my DNA is telling me only old people retire, and I don’t feel old yet . I’ll go away in the summer for a few months and see if I can wean myself off checking emails every 10 mins , if I can I’ll stay out till September when my youngest starts uni and then do some travelling to break the work cycle - I admit I’m weak and should just do it now |
Reply privately, Reply in forum +quote
or View forums list | |
"I'm not french so I won't be retiring at 62 or 64.
What they bitchin about anyway...they should try UK pension laws...fecking frogs"
I’m moving to france. They are better at life than us. We just roll over and accept our fate, they stand up and be counted.
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I am 60 worked since 16 never had a a days sick pay as such. Never been unemployed. Self employed last 30years . Just sold business paid mortgages etc off have some left over just bought second buy to let house might buy couple more. I like to still do something but on my terms when I want etc. I still got someone look after carefor so not free to travel yet. |
Reply privately, Reply in forum +quote
or View forums list | |
"I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets."
Your right,if you can afford it do it whilst your health is still good,I did it last year,i wish I'd done it earlier |
Reply privately, Reply in forum +quote
or View forums list | |
"Some people are so lucky.
I'm 65 and will have to work til I die. I had to start again on the property ladder 20 years ago due to divorce (naturally she had the house!).
I met someone else, and had more children. So I'm 20 years out of step with other guys my age.
I could think like that but refuse to keep working till I drop! I will have just the state pension! No private ones! But will just have to manage! I'm finishing in July when I'm 66 x"
Best of luck to you. We're nearly exactly the same age, I turn 66 in August xx |
Reply privately, Reply in forum +quote
or View forums list | |
"Some people are so lucky.
I'm 65 and will have to work til I die. I had to start again on the property ladder 20 years ago due to divorce (naturally she had the house!).
I met someone else, and had more children. So I'm 20 years out of step with other guys my age.
I could think like that but refuse to keep working till I drop! I will have just the state pension! No private ones! But will just have to manage! I'm finishing in July when I'm 66 x
Best of luck to you. We're nearly exactly the same age, I turn 66 in August xx"
Was a good year 1957!  x |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Did it use to be 60 for state pension ?
For women, it was 65 for men"
I see. I read somewhere that they have increased pension age because people are living longer.
They must want us to pay into the system and work until we are dead. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *os19 OP Man
over a year ago
Edmonton |
Just a update really so 4 weeks from today on the 30 June 2023 should have been my last day at work.However due to unforeseen circumstances in my home and personal life I will not be retiring as I had hoped.I would like to take this opportunity to say thank you to all that have contributed to this thread and apologises for wasting your time. |
Reply privately, Reply in forum +quote
or View forums list | |
"Just a update really so 4 weeks from today on the 30 June 2023 should have been my last day at work.However due to unforeseen circumstances in my home and personal life I will not be retiring as I had hoped.I would like to take this opportunity to say thank you to all that have contributed to this thread and apologises for wasting your time."
I’m very to hear of this, OP. Life can suck, huh.
Is there at least still light at the end of the tunnel? |
Reply privately, Reply in forum +quote
or View forums list | |
"Just a update really so 4 weeks from today on the 30 June 2023 should have been my last day at work.However due to unforeseen circumstances in my home and personal life I will not be retiring as I had hoped.I would like to take this opportunity to say thank you to all that have contributed to this thread and apologises for wasting your time."
Sorry to hear that. What a shame that things have turned out that way. Hopefully it is just a temporary setback.
Such a good time of year for making the most of things. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I kind of retired when I was 40. I travel a lot take photos and videos and make money being on location. Can’t really call it a job as. I have a lot of fun. I only do the jobs I want. |
Reply privately, Reply in forum +quote
or View forums list | |
"Just a update really so 4 weeks from today on the 30 June 2023 should have been my last day at work.However due to unforeseen circumstances in my home and personal life I will not be retiring as I had hoped.I would like to take this opportunity to say thank you to all that have contributed to this thread and apologises for wasting your time."
Like comes at you fast OP. Sad you can’t retire early mate.
It’s prompted some good discussion so no idea what you are apologising for. |
Reply privately, Reply in forum +quote
or View forums list | |
"Just a update really so 4 weeks from today on the 30 June 2023 should have been my last day at work.However due to unforeseen circumstances in my home and personal life I will not be retiring as I had hoped.I would like to take this opportunity to say thank you to all that have contributed to this thread and apologises for wasting your time.
Like comes at you fast OP. Sad you can’t retire early mate.
It’s prompted some good discussion so no idea what you are apologising for. "
*life |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *andyrod1Man
over a year ago
St Margaret's at Cliffe |
I retired from the Met at 51, l work a few days a week for the Home Office now, nothing too stressful though.
I have a home in Greece that l use a lot, l will look at getting a residence permit in a year or two.
I was amazed at how much l saved on petrol by not working five days a week!
Go for it, retire while you are still young enough to enjoy it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ammymacMan
over a year ago
darlington |
I retired at 53 and took a massive drop in income. However, beforehand we sat down and realized that with my pension and investments in property we could manage quite happily.
Never looked back. 4 months of the year on holiday, golf 3 times a week and the days fly by.
Go for it. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ammymacMan
over a year ago
darlington |
"I will be 55 in January I am giving serious consideration to this time next year taking my work pension and living off that plus my rental income as that would match my current salary. I also have savings and if necessary I could use those for emergencies and treats to myself as over the years I have saved money and missed out on things I could and should have had a lot earlier in my life.After all they say you can’t take it with you. I longer want or need the everyday office politics bullshit. I feel it best to go sooner rather than later whilst my health is still reasonable than wait until it’s not.Has anyone else done this and if so was it the right decision or are there some regrets."
I retired aged 56 some 13 years ago and never regretted a minute. Like you I have rental properties which made up for my 50% reduction in salary, however, you get used to living on what you have coming in.
Go for it and if it doesn’t suite you there a plenty of stress free jobs to top up your pension and income.
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *os19 OP Man
over a year ago
Edmonton |
"Go for it OP more free time to shag dirty milfs whilst their husbands are at work "
. I put up a post about 13 weeks ago saying that due to unforeseen circumstances at home I was unable to retire on 30/06/2023 as planned.Still I have Saturdays to shag a dirty milf as you put it lol. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ogNMuseCouple
over a year ago
Surrey |
I retired at 49, 50 was the target but the wife got a larger stake in her family company so it enabled us to push it forward a year - I’ve only really starting to enjoy it as 2 months after I retired covid hit
I know we’re fortunate as we are mortgage free, kids grown up, and the wife has a good income.
I will say make sure you have plenty of interests/hobbies it can be quite boring if all your social circle are still working during the week- I ended up starting another business as I was missing working; however it’s more of a hobby and I can literally do it as and when I want.
I treat most days as if they are a Saturday |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Just a update really so 4 weeks from today on the 30 June 2023 should have been my last day at work.However due to unforeseen circumstances in my home and personal life I will not be retiring as I had hoped.I would like to take this opportunity to say thank you to all that have contributed to this thread and apologises for wasting your time."
Aww  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ed1boxMan
over a year ago
canary wharf |
Life's major commodity is time, at the end of your life that will be either your making or biggest regret. I retired 4 years ago without massive finances. You simply cut your cloth to suit your needs. I only wish I had retired 10 years earlier. |
Reply privately, Reply in forum +quote
or View forums list | |
Retired a couple of years ago at 56 and have got really bored. Travelled a lot at first and indulged in a few hobbies but it’s not enough. Most friends still working and I found it really hard to stay mentally stimulated and hate being non productive. Career I was in enabled me to have a good bit of spare time anyway so I am looking forward to working again. Will re evaluate again when 65. |
Reply privately, Reply in forum +quote
or View forums list | |
"Life's major commodity is time, at the end of your life that will be either your making or biggest regret. I retired 4 years ago without massive finances. You simply cut your cloth to suit your needs. I only wish I had retired 10 years earlier."
Exactly this! If we waited till we could afford to retire we would work till we drop! Same as having children if we waited till could afford to would never have had any x |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I’m
Hoping to retire at 43 to 44.
Been working solid since I was 18.
Made some sensible moves with some good advice and just have a goal and aiming hard for it.
After than…live! |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *andyrod1Man
over a year ago
St Margaret's at Cliffe |
I retired at 51 and have not regretted it, l still work part time so that l can have plenty of holidays but will be making a permanent move to my house in Greece in the next 12 months, l can live very well on my workplace pension there. |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
