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Nov 2020
9:26am, 21 Nov 2020
6,703 posts
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Eynsham Red
Recent posts have prompted me to check on what my wife will receive from my pensions if I die before her.
She only has a very small pension of her own, and even when topped up by the state pension, it wouldn’t be sufficient to live on.
However, having looked into the detail, she will receive sufficient to live comfortably.
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Nov 2020
11:21am, 21 Nov 2020
7,291 posts
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Fragile Do Not Bend
An important detail. My husband could opt to get more pension while he is alive and a smaller widow’s pension, but given that he’s 10 years older than me and a man, the odds are I’m going to be around a lot longer than him (I’m not looking forward to that one little bit).
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Nov 2020
11:56am, 21 Nov 2020
358 posts
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Shades
I retired 5 years ago. Well I didn't officially retire, I handed my notice in and told my boss I didn't like working there, he was convinced I'd been poached by a competitor.
My initial plan was to take 3 months off and then take temping work. Always wanted to be a temp, I love new office environments, new folk to meet, new challenges etc., as a temp there would be no commitment to stay. I thought I'd just work now and then as having paid off my mortgage and having some savings I didn't need to work full time.
So for the first time ever I could do my marathon training during the day, not by streetlights and the first month off being a very mild January I had lovely runs in the sunshine. But by the time February came the increased traffic during the day was annoying me so I went back to early morning running in the dark.
When March came, I still had done nothing about work so decided that I would extend my time off to a full year.
Halfway through the year I sat down and did a long term budget, I had a small pension that matured then, not much but enough to pay the running costs for my car. I worked out that if I stuck to my budget I could make it to my state retirement age and still have some savings left, not much but enough. I have a couple of very small pensions maturing next year too.
So I've had a fabulous 5 years so far, best decision I've ever made. I still have an expensive marathon habit but I budget for the races I want to do and I still live on about half that I used to spend before.
Paying off the mortgage also means no more of the related costs, like any life insurance/critical illness/income protection policies.
When I gave up work I went to the Boxing day sales and bought a little black jacket to wear for interviews, it's still in the wardrobe, never been worn as I've never applied for another job.
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Nov 2020
1:24pm, 21 Nov 2020
35,200 posts
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Hills of Death (HOD)
That’s a great story Shades my friend I’ve know since I’ve been 8 has worked at my company since 16. Handed in his notice as he had enough after 36 years. He’s only just 52 but will get a liveable pension.
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Nov 2020
2:07pm, 21 Nov 2020
49,933 posts
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Velociraptor
That's fantastic, Shades 
Being able to run in daylight having had breakfast at a civilised hour beforehand is one of the things I appreciate and have been keen to protect since my attempt to give up work. My 2pm starts are a blessing at this time of year.
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Nov 2020
2:39pm, 21 Nov 2020
5,369 posts
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FenlandRunner
Shades, do you miss the challenges of work?
As I said a few pages (or more) back. I love my work. And feel I gain so much pleasure from it.
Yes, there are a million and one things/activities I will be able to fill my day with, but will I get that sense of fulfillment?
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Nov 2020
3:12pm, 21 Nov 2020
35,201 posts
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Hills of Death (HOD)
I know I’ve asked you this before Fenners what do you do
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Nov 2020
4:04pm, 21 Nov 2020
359 posts
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Shades
HOD - that's a long time your friend worked for one employer. I've had loads of jobs, I've done accounts for electricity/kilts/dairy/organic foods/childcare/insurance/construction/
desserts/nightclubs and boat propellers. There's probably a few I've missed.
I've usually had a couple of part time jobs too, mostly book-keeping but have been a football steward and worked on the door of a nightclub, all to fund my marathons and pay the mortgage off.
Always worked long hours and used to wonder what retired folk did all day. Then as time goes on your mindset changes and you realise that you just don't want to do it anymore.
Vrap - I agree, a leisurely breakfast after a run is bliss.
FR - I don't miss work at all and have turned down any work that I've been offered since. I think I'm unemployable now which suits me fine.
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Nov 2020
4:06pm, 21 Nov 2020
18,206 posts
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Bazoaxe
I am 53 and have 35 years service next may.
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Nov 2020
4:08pm, 21 Nov 2020
22,306 posts
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TRO Saracen
Great work Shades, you’ve nailed it😀
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Jigs 