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Thread: Being retired

  1. #51
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    Quote Originally Posted by Kingstepper View Post
    Isn't the average number of children 2.2, so that 0.5 will be ~0.25 (as in 250k) each?
    Yes as long as you don't spend a year or two in a home. That really does eat up the inheritance.

  2. #52
    Quote Originally Posted by Mick P View Post
    Yes as long as you don't spend a year or two in a home. That really does eat up the inheritance.
    I agree - another reason why AFCs optimism that most 20 somethings will get an inheritance of 500k is well off the mark.

  3. #53
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    Quote Originally Posted by Kingstepper View Post
    I agree - another reason why AFCs optimism that most 20 somethings will get an inheritance of 500k is well off the mark.

    Inheritance tax, fees, removals, funerals, etc, etc and that money eeks away slowly, for the sake for future generations the housing market needs to get back to reality, where someone has a realistic chance of putting a deposit (25k or less) together to get a mortgage that isn't over 3 times their salary.

  4. #54
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    Quote Originally Posted by Passenger View Post
    Totally agree. I suspect some folks just can't stop chasing the munnneee, not necessarily their own fault as I believe there's an element of indoctrination in some societies.
    It's not really that at all, it's more just that as things become more successful (and profitable) it's harder to give them up, especially if you're at the vanguard of the success.

    If on top of that you actually enjoy what you're doing and the company of the people you're doing it with then really why would you want to stop?

  5. #55
    Quote Originally Posted by Argee1977 View Post
    Inheritance tax, fees, removals, funerals, etc, etc and that money eeks away slowly, for the sake for future generations the housing market needs to get back to reality, where someone has a realistic chance of putting a deposit (25k or less) together to get a mortgage that isn't over 3 times their salary.
    Some element of pre-planning would obviate much of this I suspect....

  6. #56
    Quote Originally Posted by Kingstepper View Post
    I agree - another reason why AFCs optimism that most 20 somethings will get an inheritance of 500k is well off the mark.
    Got a better figure?

    The cheapest starter place round here - which is waaaaay cheaper than London/Home Counties - is 200k and there aren't (m)any 45+ age group people living in those. Even if the average household has 2 offspring, that's still an inheritance of 100k each. Not to be sniffed at. Like all numbers, other folk I know have property (paid for or shortly to be) in excess of 1m

  7. #57
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    Quote Originally Posted by Argee1977 View Post
    Inheritance tax, fees, removals, funerals, etc, etc and that money eeks away slowly, for the sake for future generations the housing market needs to get back to reality, where someone has a realistic chance of putting a deposit (25k or less) together to get a mortgage that isn't over 3 times their salary.
    Perhaps people need to start planning earlier, might help some.

  8. #58
    Quote Originally Posted by afcneal View Post
    Got a better figure?

    The cheapest starter place round here - which is waaaaay cheaper than London/Home Counties - is 200k and there aren't (m)any 45+ age group people living in those. Even if the average household has 2 offspring, that's still an inheritance of 100k each. Not to be sniffed at. Like all numbers, other folk I know have property (paid for or shortly to be) in excess of 1m
    Yes, 100k is a better figure but nowhere near the 500k you initially stated and what I disagreed with.
    Last edited by Kingstepper; 26th August 2017 at 17:06.

  9. #59
    Grand Master oldoakknives's Avatar
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    Quote Originally Posted by Kingstepper View Post
    Yes, 100k is a better figure but nowhere near the 500k you initially stated and what I disagreed with.
    2 kids and leave this. 500k? Tbh it all depends on the property and how many children.
    http://www.rightmove.co.uk/property-...-49492887.html

  10. #60
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    Chaps, with respect this is about being retired, not how much the kids will be left with. My own view is that any inheritance should be viewed as a bonus, certainly not something that should form part of a financial plan.

  11. #61
    Quote Originally Posted by oldoakknives View Post
    2 kids and leave this. 500k? Tbh it all depends on the property and how many children.
    http://www.rightmove.co.uk/property-...-49492887.html
    What's your point? Obviously, yes, it is possible but 'most' will not be left that.

  12. #62
    I heard what is going on with GP's, collect you pension, formally retire, then go back the next day in you old job on your old salary, that's one way of cashing in

  13. #63
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    I retired aged 52 in 2010 and I can't imagine going to work wvery day. However, I do miss the 'Friday feeling' and I don' t get the same enjoyment from holidays.

    Work can be psychologically rewarding but the drawbacks far outweight the advantages IMO.

    Paul
    Last edited by walkerwek1958; 29th August 2017 at 15:11.

  14. #64
    Master mindforge's Avatar
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    Surely it depends on the individual? My grandfather retired relatively early after having worked hard since leaving school, then spent the next 20 years sitting in his flat, whereas he enjoyed work. Some people will enjoy an early retirement, some are not suited to it.

  15. #65
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    I retired a few years ago but soon got bored and took a part time job which I enjoyed. Unfortunately, the firm was taken over (supposedly merged) with a much larger outfit. Over the next year or so, the job became unbearable as we not only had to do our jobs but had to record it all in detail. Sign in, do daily checks, record checks, sign onto specific job, do job, record job, evaluate job etc., ........................... I hated it. I've retired again! My garage is now pristine, as are my cars, workshop, garden etc. I no longer have time to work. I am fitter and looking forward to yet another holiday at bargain prices, with no kids in the hotels!

  16. #66
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    Quote Originally Posted by tixntox View Post
    I retired a few years ago but soon got bored and took a part time job which I enjoyed. Unfortunately, the firm was taken over (supposedly merged) with a much larger outfit. Over the next year or so, the job became unbearable as we not only had to do our jobs but had to record it all in detail. Sign in, do daily checks, record checks, sign onto specific job, do job, record job, evaluate job etc., ........................... I hated it. I've retired again! My garage is now pristine, as are my cars, workshop, garden etc. I no longer have time to work. I am fitter and looking forward to yet another holiday at bargain prices, with no kids in the hotels!

    Your comments are spot on. The pleasure of a days work has gone
    Last edited by moe100; 4th September 2017 at 21:39.

  17. #67
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    Retired at 51 this year. Off to by a boat next week! :-)

  18. #68
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    Quote Originally Posted by 33JS View Post
    Retired at 51 this year. Off to by a boat next week! :-)
    Buy!

  19. #69
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    Boat pictures please. I like a nice looking prow!

  20. #70
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    I've retired from the corporate world. To this day I am bemused about how I ended up there as it really doesn't suit my temperament, but I think the key thing was my mum and dad divorcing when I was 3 and me not having a father figure to guide me into what I should have been in... engineer or some form of 1-2-1 medical practitioner. My dad was in the RAF playing around with planes which, if I'd seen more of, would have probably given me a better steer.

    So at the age of 40 I find myself going back to university to become a podiatrist and I'm so excited I could wet my pants. I love learning and absorbing new knowledge and am looking forward to a new career that I think I'll be happy and fulfilled doing until at least 65.

    Weird really. I don't work at the minute and love it but can't wait to get stuck into something properly and give it my all. I'm sure things may get weary but at the minute I'm looking forward to the start of my career, and building something that isn't for some other C U Next Time
    Last edited by Schofie; 30th August 2017 at 23:22.

  21. #71
    Quote Originally Posted by Schofie View Post
    I've retired from the corporate world. To this day I am bemused about how I ended up there but I think the key thing was my mum and dad divorcing when I was 3 and me not having a father figure to guide me into what I should have been in... engineer or some form of 1-2-1 medical practitioner. My dad was in the RAF playing around with planes which, if I'd seen more of, would have probably given me a better steer.

    So at the age of 40 I find myself going back to university to become a podiatrist and I'm so excited I could wet my pants. I love learning and absorbing new knowledge and am looking forward to a new career that I think I'll be happy and fulfilled doing until at least 65.

    Weird really. I don't work at the minute and love it but can't wait to get stuck into something properly and give it my all. I'm sure things may get weary but at the minute I'm looking forward to the start of my career, and building something that isn't for some other C U Next Time
    Had to look podiatrist up - good luck with it.

    Why the name change BTW?

  22. #72
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    Quote Originally Posted by Kingstepper View Post
    Had to look podiatrist up - good luck with it.

    Why the name change BTW?
    Cheers Name change?

  23. #73
    Quote Originally Posted by Schofie View Post
    Cheers Name change?
    Not you, but weren't podiatrists previously called chiropodists or is there a difference?

  24. #74
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    Well, after a brief career as a dentist and then 31 years flying and associated roles in the RAF I (temporarily) officially retired in June at age 52. I will work again but haven't (aside from a brief handover) been into work since 24 Feb. The time off has been great and a much needed time to get various things done. Right now on a Wednesday evening at 23:30 I'm watching/listening to Supertramp - Paris on DVD at huge volume and know that the alarm won't be going off at 06:30! In a couple of months I'll finally (twice previously booked and cancelled) be travelling to Central America for 3 weeks to see the Mayan sites.

    I will work again but it will be very much on my terms. The list of DIY jobs is long complete, the garden is the best it's been in years, I've caught up with loads of friends etc. It also hasn't dampened my desire to learn and I'm part way through an MBA. For me it has brought into focus what is truly important but that's easy to say being mortgage free and financially secure.
    Last edited by Skier; 30th August 2017 at 23:48.

  25. #75

    Smile

    Enjoy getting bladdered in my local knowing I can lie in bed as long as like until the hangover has gone.

  26. #76
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    Quote Originally Posted by Kingstepper View Post
    Not you, but weren't podiatrists previously called chiropodists or is there a difference?
    I think the difference in name really comes from the Americanisation of medicine, in a similar vein to the evolution of chiropractors and osteopaths. They are, to all intents and purposes, the same thing and the name seems to have just changed over time:

    http://m.wilsonfootclinic.com/?url=h...referrer=#2625

    What has also changed over time is the knowledge and practise around biomechanics and this is the part I'm really interested in, with a particular focus on sport podiatry.
    Last edited by Schofie; 31st August 2017 at 00:14.

  27. #77
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    I have just arrived in Spain and it's 28 degrees and rising.

    So about to depart to a restaurant that specialises in BBQ'ed fish straight from the sea and washed down with a local white wine.

    Later on meeting up with a group of fellow retirees to celebrate a 66th.

    Tomorrow we are up in the mountains to buy a crate load of wine which is bloody beautiful in its taste and dirt cheap. Will stop for a local tapas on the way back.

    This sort of thing happens on a daily basis and anyone who thinks working is better must be off their trolly.

  28. #78
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    Quote Originally Posted by Mick P View Post
    I have just arrived in Spain and it's 28 degrees and rising.

    So about to depart to a restaurant that specialises in BBQ'ed fish straight from the sea and washed down with a local white wine.

    Later on meeting up with a group of fellow retirees to celebrate a 66th.

    Tomorrow we are up in the mountains to buy a crate load of wine which is bloody beautiful in its taste and dirt cheap. Will stop for a local tapas on the way back.

    This sort of thing happens on a daily basis and anyone who thinks working is better must be off their trolly.
    Mick, the temp's in its 80's and rising which is way hotter than most people like moving about in. You're going for a nice, if basic, lunch (hopefully the restaurant's got a/c). And later you're going to an old person's birthday party. Tomorrow you're going to buy some cheap local wine, and on the way back you're going for a snack.

    Why do you think these things can't be done by someone who works? People who work do things apart from work y'know. And having a pleasant lunch, going to a party, buying booze and stopping for a snack afterwards can be done with immeasurably more choice in a multitude of places without getting sweaty and irascible in 80-90 degree heat!

    I'm 'retired' myself, but what you're describing isn't really illustrating any benefits of retirement. None that I can identify with anyway. At best it sounds like a snapshot from a holiday break. And, be honest, how much holidaying can you do before it becomes uncomfortably tedious?

  29. #79
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    Quote Originally Posted by wolf View Post
    Mick, the temp's in its 80's and rising which is way hotter than most people like moving about in. You're going for a nice, if basic, lunch (hopefully the restaurant's got a/c). And later you're going to an old person's birthday party. Tomorrow you're going to buy some cheap local wine, and on the way back you're going for a snack.

    Why do you think these things can't be done by someone who works? People who work do things apart from work y'know. And having a pleasant lunch, going to a party, buying booze and stopping for a snack afterwards can be done with immeasurably more choice in a multitude of places without getting sweaty and irascible in 80-90 degree heat!

    I'm 'retired' myself, but what you're describing isn't really illustrating any benefits of retirement. None that I can identify with anyway. At best it sounds like a snapshot from a holiday break. And, be honest, how much holidaying can you do before it becomes uncomfortably tedious?
    Wolf

    I suppose it depends what you want from retirement. My wife and I both wanted to travel and we set ourselves a target of 24 weeks a year in Europe.

    We bought a place in an inland village in Spain and use that as a base for whizzing around southern and mid Spain and it's great seeing places that most tourists would never see. We are trying to learn the language (not easy) and integrate with the local community and I have been elected as a community President which keeps me on my toes.

    Also we do regular cruises and have just booked a river cruise up the Danube.

    I suppose the trick is to set yourself free from the stress of working but not get sucked into a dull and boring routine of doing nothing.

    So far we have succeeded and are enjoying it.
    Last edited by Mick P; 1st September 2017 at 09:34.

  30. #80
    Master Ron Jr's Avatar
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    My Wife and I plan on retiring in two years. Just have to pay off my Daughters student loan. Sell the house on LI and move to the Villages in FLA so I can be close to my Mother, I worry about her everyday since my Dad passed last December.

  31. #81
    Master Filterlab's Avatar
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    I'm looking forward to retirement, which with all being well should be within three years time. As I'll be only 44 years old I should be able to enjoy a bit of fun before my body falls to pieces. :0)

    What will I miss about work? Nothing.

  32. #82
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    Likewise. I am 40, think I've got two more years then I'm done.

  33. #83
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    I am in the unusual position of having loved 90% of everything and every day I did at work. Retired just before my sixtieth, but didn't like the lack of intellectual stimulus -- so tried some (nominally) non-exec work. For the last nine years I have had worked around eighty days per year, been paid very generously (on top of my pension), had five or six holidays each year, thoroughly enjoyed myself, and have not got under the Mem'sahib's feet too much. Additionally, I can afford the odd watch. Ideal.


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  34. #84
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    Quote Originally Posted by Chalet View Post
    Likewise. I am 40, think I've got two more years then I'm done.

    That would be a great achievement. Good Luck
    Last edited by moe100; 3rd September 2017 at 02:44.

  35. #85
    Quote Originally Posted by Mick P View Post
    Wolf

    I suppose it depends what you want from retirement. My wife and I both wanted to travel and we set ourselves a target of 24 weeks a year in Europe.

    We bought a place in an inland village in Spain and use that as a base for whizzing around southern and mid Spain and it's great seeing places that most tourists would never see. We are trying to learn the language (not easy) and integrate with the local community and I have been elected as a community President which keeps me on my toes.

    Also we do regular cruises and have just booked a river cruise up the Danube.

    I suppose the trick is to set yourself free from the stress of working but not get sucked into a dull and boring routine of doing nothing.

    So far we have succeeded and are enjoying it.


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    good for you

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  36. #86
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    I'm 51 and have been working since 16. I've had enough and can't wait to retire! I've got a plan to get me to 55 then that's it, 6 months in Spain and 6 months in the UK each year. Lovely.

  37. #87
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    One other thing about planning retirement is that you cannot predict what your health will be as you get older.

    I had to spend at least 2 days a week commuting into London and for several years I worked there full time. This mean't being on the station platform at 6.40am and usually getting home around 7.45pm.

    I was able to take that quite easily in my stride until I hit 59 and then I found it a slog. I retired at 61 and by that time the commuting was killing me. I lived for the weekend just to recover for the week after.

    The body you have at 40 is much better than the body you have when you are sixty.

    Could I have gone on until I was 65, I very much doubt it.

  38. #88
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    Quote Originally Posted by Mick P View Post
    One other thing about planning retirement is that you cannot predict what your health will be as you get older.

    I had to spend at least 2 days a week commuting into London and for several years I worked there full time. This mean't being on the station platform at 6.40am and usually getting home around 7.45pm.

    I was able to take that quite easily in my stride until I hit 59 and then I found it a slog. I retired at 61 and by that time the commuting was killing me. I lived for the weekend just to recover for the week after.

    The body you have at 40 is much better than the body you have when you are sixty.

    Could I have gone on until I was 65, I very much doubt it.
    FWIW I concur, IF you don't have to spend what are generally the healthiest & best years of your life toiling away, then don't. Personally I grew to hate the commute in London after the first few years but stuck with it because of the money earning and saving opportunities which I believe I'd be hard pressed to replicate elsewhere.

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