The Retirement Thread
176 watchers
10 Jul
3:10pm, 10 Jul 2024
6,299 posts
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TheScribbler
No children here. Me and Mr S are 52 and 51 and benefited from no tuition fees, and falling interest rates after we’d bought our first flat. The question about kids has raised this issue though. We have been asked to be legal guardians for our friends’ kids aged 11 and 9. Hopefully we would never have to step up to this responsibility, but it would be a serious life changer and mean a radical rethink of our plans if the worst happened. |
10 Jul
3:21pm, 10 Jul 2024
12,682 posts
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lammo
Just into my fifties and love reading this thread, thanks all, i have young ish kids 12 and 9, so retirement feels a long way off, i also have a fair sized mortgage. Reckon i need another 10 years working 
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10 Jul
3:24pm, 10 Jul 2024
86,892 posts
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Diogenes
Thanks, confirms what I thought. I had plenty of disposable income until I met my wife, bought a house, got married, had three children.
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10 Jul
3:29pm, 10 Jul 2024
32,517 posts
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Rosehip
yes, one 21 yr old dependent as he's gone back to college and one older who just about pays enough rent to cover his share of the utility bills (+ some I'm squirrelling away for him to have back later) Husband is still working, though we've worked out many times he doesn't need to *sighs* |
10 Jul
4:42pm, 10 Jul 2024
20,526 posts
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Dave W
No kids in the Williams family. Did make it easier. I have no idea how those of you who have kids have managed over the years. Chapeau.
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10 Jul
4:47pm, 10 Jul 2024
76,603 posts
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Lip Gloss
No kids at home for either of us. I have been putting something away each month for my grandkids though.
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10 Jul
4:55pm, 10 Jul 2024
28,034 posts
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TROSaracen
My 3 are self sufficient/flown and haven’t impacted my finances for 5 years. That gave me the headroom to semi retire at 52 (2019) down to 2 days/week.
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10 Jul
4:58pm, 10 Jul 2024
55,859 posts
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EvilPixie
Gnome went from uni to working away from home He has been sufficient for 5 years now |
10 Jul
5:32pm, 10 Jul 2024
23,127 posts
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geordiegirl
No kids for us neither, both 54 but I will be 55 in Sept, OH in Jan. He was also financially savvy with a pension and an endowment (no house) when we met. @TheScribbler we are also chosen to be legal guardians for our niece and nephew and my cousins 2 kids, thankfully 2 of the 4 are over 18 and one almost 18 and cousin has since remarried so we may be off the hook, but we did make sure we had provisions available should the worst have happened. We have been over paying the mortgage for a number of years, we took this on with a view to it being paid off when we were 62, we are down to an amount we could clear albeit impacting savings. I think for me us its the worry that we suddenly don't have enough to do what we want with our lives but worst case I reckon we could just go back to work... its taking the plunge. |
10 Jul
5:34pm, 10 Jul 2024
7,559 posts
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ThorntonRunner
I retired at 62 - OH finished a year earlier aged 54. We've supported both our two from time to time . Youngest finally left home the year before I finished
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Jigs Useful Links
FE accepts no responsibility for external links. Or anything, really.- Money Helper
- How Much is Enough to Retire On?
- Retirement Living Standards
- How much will you need to retire?
- Free Govt website for pension advice
- SIPP pensions
- ISAs
- Check your National Insurance contributions
- Check your state pension account
- Martin Lewis on pensions
- Support and advice for those widowed under the age of 50
- Power of Attorney information
- Making the most of your retirement
- 20 tips for a happy retirement
- Married Couple's Allowance
- Aviva guide to retirement planning
- U3A
- U3A Local Sites - map
- Make a Power of Attorney
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