The Retirement Thread
1 lurker |
174 watchers
Apr 2022
4:55pm, 27 Apr 2022
134,889 posts
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GregP
Great posts gang.
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Apr 2022
8:01pm, 27 Apr 2022
35,763 posts
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Nick Cook
I'm in the 'I'm going to spend my money while I can, if I go dulally in my old age and the money's run out, my kids can sort it out' camp!
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Apr 2022
8:01pm, 27 Apr 2022
35,764 posts
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Nick Cook
(But I don't think the money will run out).
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Apr 2022
8:13pm, 27 Apr 2022
61,247 posts
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Lip Gloss
I’ve just had a good chat to my DiL who told me to retire now and spend my money and don’t worry about them,..I love my DiL 😂😂
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Apr 2022
8:21pm, 27 Apr 2022
22,560 posts
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Bazoaxe
I got a message from my advisers support team yesterday saying they have all the numbers from the various providers and so I assume I will soon get a call to go through his findings I must admit the thought of retiring at 55 appeals, especially with the way things are at work right now. |
Apr 2022
8:26pm, 27 Apr 2022
21,099 posts
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Ness
If the figures add up Bazoaxe I'd recommend it. I am really enjoying the freedom. Even though I've had a niggle/minor injury just lately... overall I've been fitter and enjoying my running more. There are lots of other bonuses too.
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Apr 2022
8:29pm, 27 Apr 2022
14,301 posts
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Mandymoo
Totally agree that if the figures add up do it. Am loving it and enjoying the freedom etc 😁
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Apr 2022
8:39pm, 27 Apr 2022
24,971 posts
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Rosehip
I'm in the 'I'm going to spend my money while I can, if I go dulally in my old age and the money's run out, my kids can sort it out' camp! Similar, mum is trying hard to spend her pot and wishing they’d started spending earlier I’m reading all the sensible stuff on here, but also getting ready to blow a big chunk of lump sum on a motorhome/campervan - if I can find one. Starting the process of finding all husband’s various pensions, he’s a little younger than me so hopefully I’ll have another 2 or three years of peace before he takes the plunge 
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Apr 2022
8:43pm, 27 Apr 2022
5,824 posts
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ThorntonRunner
I hadn't really clicked that I'm unusual in that having worked for the same company all my working life (it'll be 40 years two months before I retire), my pension arrangements are pretty simple - one DB pension from before we were sold, and one DC pension for since we were sold!
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Apr 2022
9:10pm, 27 Apr 2022
88,552 posts
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Hanneke
The easiest way to think of it is your drawdown (annually) should be 4% of your pension pot - generally this is considered safe for it to last your lifetime with expected growth of the residual pot. I took a different approach than all the fretting about living on X, Y or Z. I took the plunge, Pension from 55 (Jan just gone) - life is for living, and today is the youngest I will be for the rest of my life. I wanted to front load, I'll work part time (currently doing 3 days/week) if I want more stuff and to do lots of expensive things. There's stuff I can sell, things I can give up doing and the 'downsize' option all there as a safety blanket. Seen too many people from my old work tie themselves into knots over this stuff in a way their younger selves wouldn't dream of. Time is our most precious commodity, not a new car or 2 holidays a year! I actually did similar back in 2014... My business partner wanted to retire. I was recovering from Lyme disease and too unwell to take over and run the business. So I took redundancy. I got 10k statutory pay, the maximum, after 19 years... I used that to take a year out to recover properly and started freelancing: teach yoga, hired myself back to the charity we also ran for almost a year, 3 days a week from 11-5... And rolled into dementia care/therapy, grant supported, and garden design. Earnings have been up and down which hasn't always been easy but practically, I have been semi-retired since I was 49, only working as much as I need to. So if I wanted a new e-mtb to cater for my Lyme ravaged bodies inability to ride uphill off road, I find a well paid project. If it is finite, and I have a carrot, I can just about manage the hours and the stress
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CumbriAndy 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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