Reply With QuoteYou're not 'retired' ! You've moved on. Now have the time to do all those things you had no time for.
Brendan
The only thing/s I miss, being retired are, that Friday feeling knowing that you have two days off and of course, Bank holidays.
If you're an old f@@t like me, what do you miss?
You're not 'retired' ! You've moved on. Now have the time to do all those things you had no time for.
Brendan
Tbh: nothing.
I am more and more aware of the fact that I have now plenty of time for all sorts of things, including chores in and around the house.
Up to now, I pick one to do every day: freeing a blocked drainage on monday and on the other days another job around the house. Today I am going to repair a wicker chair.
And then there's still a line up of old(er) Jaguars in the workshop... this week we had 4 Jag every day. And not all the same the whole week!
Menno
I don't miss anything except the stress. Retirement is like a permanent holiday what's not to like? Beats me how I found the time to work but working has certainly made retirement all the more pleasurable. I enjoy getting paid for doing nothing and long may it last. Keeping active is the key!
I have 5 years left (I hope) and counting. Looking forward to not having to sit in meetings with people promoted way beyond their abilities who know nothing about the subjects we're discussing. Friday rant out of the way. Sorry!
I retired at forty, the novelty hasn't quite worn off........after thirty seven years.
Took early retirement 3 years ago from commercial underwriting with a large insurer (I'm 61). Missed the banter and the people at first, but now don't miss anything at all - and have much to be grateful for. Been single for 15 years (out of choice) so it's blissfully quiet and I can't imagine life being any better, especially since I got an English Cocker Spaniel pupster 2 years ago who knows how to keep me on my toes. And there still aren't enough hours in a day.
I retired at 56 sold up and sodded off on a boat for ten years, now back on terra firma but still miss that Friday buzz. Now Fridays feel the same as any other day.
I certainly don't miss it enough to go back to working and knowing I'm being paid for doing nothing is great.
Also, when government elections came around I used to moan about all the parties going on about raising pensions, to get the pensioners vote.
Different story now though.
Retired early a couple of years ago. At first I missed it badly, especially certain colleagues, with whom I got on well. I did not miss the endless, over-attended, over-running, time-stealing and thoroughly unproductive meetings, where nothing ever got resolved. Subsequently, there would be the production of a document outlining the pointless things that were said by self-important people in the pointless meetings. I could write a book on useless meetings.
Now I have time to mooch about, re-connect with my family, take a nap if I feel like and generally follow any pastimes that piques my interest. It's great.
7 months to go - I'll be 57 - little apprehensive but anything is going to be better than the corporate world. Might do a part time job or some volunteer work.
My dad is 80 - he is thinking in five years or so he might consider retirement.
We baby boomers are lucky. Most of us have good final salary pensions and a state pension. We are sitting in properties that are worth a fortune and yes we have never had it so good. When I fly off to my place in Spain, the aircraft is stuffed with similar grey haired pensioners, all talking about how they will spend the next 3 months basking in the sun.
I retired 7 years ago at the age of 61 and after the usual period of readjustment, I am lapping it up.
However will our children have the same luxury. They will be working until they are 68, house purchase is a lot more difficult for them and their pensions will be rubbish compared to ours.
We old baby boomers are doing fine in retirement and it is a genuine golden age but I think as time progresses, retirement is going to be a crap time for our children.
3 years to go for me.
Then I can retire at 60.
As to the "Friday" feeling? I work week-ends, shifts, nights, bank holidays ,blah blah blah! So I cant wait to finish work, to do the things I like, when I like etc etc etc!
I'm 44 .
No debt
Decent savings.
No pension worthy of mention.
Most of my money from the last 20years went into a
Nicely performing house most of which I'll be giving to my soon to be ex-wife.
Have a high paying job.
Have a 24% stake in another company I'm about to join full time and expand. If this works and I reach retirement age I should be very comfortable. Hopefully so would my children and grandchildren.
If it fails I'll live in my Mum's house , buy a dog and live simply . Maybe get back to painting and writing. Get a mcjob.
Dunno about you, but mine will inherit the 'luxuries' so won't be too badly off methinks! Just from property values alone, most of todays 20-somethings will be worth an easy 1/2 a mill and much more for some!Originally Posted by Mick P
Thing is though in a lot of areas whilst your house is worth a lot in money terms so are all the others. So you won't see much benefit beyond being able to put a roof over your head.
Not everyone can or wants to move to a cheaper area. I could buy a mansion with its own land in my home town for the price of my humble three bed semi in London.
I agree this is the prevailing consensus. Personally I just missed the cut on final salary pensions. I'm 46 and started my career in accountancy firms, which were way ahead of the curve on closing final salary schemes. I then moved to an insurance company 12 months after they closed their final salary scheme to new joiners. I was blissfully unaware of this at the time. Since then it's been defined contribution schemes all the way. I actually also missed the property boom as I moved around a lot in my 20s and early 30s renting and did a couple of stints working overseas where we rented. However, I've been sensible and I am on track to retire in 10 years with my lifetime allowance for my pension maxed out and with two mortgage free properties. I'll also have a lot more flexibility for early retirement via flexible drawdown than my peers locked into final salary schemes with retirement date of 65 and severe penalties for early access. So as long as people are financially aware and don't sit back doing nothing it's still perfectly possible to retire early.
There are also the unknown unknowns. I personally believe that it is quite likely that technological and medical breakthroughs in the next 20-50 years will lead to new booms in stock markets. Those in defined contribution schemes will benefit from this.
If you assume the same area and prices, inheriting aopaid-for house cannot be a disadvantage??!! It either means the current one is sold and proceeds banked or revenue if let.
I am planning to be around another 30-ish years, but 20-somethings of today are unlikely to be mortgage free by then so it's a win in any direction?
Retired for a short time in my early 50's.
Hated it - I was OK for money but hated not being able to use the knowledge and experience in my head to make a difference. Couldn't think how to this other than working so started my own business. It has kept me occupied ever since and whilst some of the financial aspects are challenging at times I enjoy it. I try not to do more than 4 days a week.
I never want to retire.
Therein lies the problem. Home ownership is far out of reach of lots of 20-somethings to afford on their own, despite intelligence and hard work, and is left to the lottery of inheritance. (London centric here of course, easier in other parts of the country)
I'm very lucky myself that despite no inheritance to speak of I'll manage to get on the rung above and be able to offer that opportunity to my kids when the time comes. But for some being able to make that leap is almost impossible.
It really was a golden age for wealth generation for those approaching or in retirement now. House price appreciation, stock market appreciation and some very generous pensions! I'm very jealous of course but you've just got to make the most of the opportunities you have so certainly don't grudge anyone doing so.
I retired last summer at 64 after 45 years in the marine industry, 25 of which were spent at sea. I went into phased retirement 5 years ago working 3 days a week, 35 weeks a year so I've slipped into it very easily. I love it and miss nothing about working except some of the people I worked and got on well with. Still meet up occasionally for a chat and catch-up. Our generation has it good if you've put the hours in grafted to save, provide a home etc. and generations to come will certainly not have such opportunities as us. I'm trying to provide for my two who both have good jobs yet struggle to get ahead in life re property and savings. I fear we are the last in line, my parents had it hard in both life and retirement. Now my sons are finding it hard yet I'm in the middle reasonably comfortable and have been so for a few years. The baby boomers.
Love retirement though, so much to do (at my own speed).
Well don't switch off is my key bit of advice.
I'm involved as a Charity Trustee amongst other things and I give 2 days a week on average to my hobby of playing trains. I never seem to have enough time to do everything but I think that's a good thing.
I do often wake up in the morning still thinking what do I have to do at work today until I realise that the answer is nothing if I don't want to. That's the big difference.
And here lies the biggest problem in this country, property being seen as a commodity and investment rather than what it is, a house. If houses cost what they were actually worth, then this generation and the next would be in a better position, sadly that'll never happen.
Retired at fifty from work, although TBH I only ever did a few hours and wasn't keen on that!
I've always been quite idle and work just gets in the way of doing what you want to do, in my case lounging around and posting on internet fora.
Cheers,
Neil.
Retired 2 months ago (57) and am loving it. I miss nothing except the monthly pay slip. But hardly a surprise there
Making sure you do something everyday is important. For me this usually means gardening , DIY, doing house work (my ironing skills have improved), cooking dinner, mucking about in the garage/shed or playing golf seems to suffice.
Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
Friedrich Nietzsche
I'm 48, I could retire at 50 but I honestly don't know what I'd do with myself so I'll probably just carry on working, If I could trim it down to 3 days a week I'd be really happy.
I will retire at 87 and not a day later
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Retired at least in the sense of selling my time for money 7 years ago at 39, however my son was born around the same time so I've still got plenty to keep me busy
I retired at 58 and, as with others, I miss my colleagues but not much else about work. My wife is still working so I still have a sense that weekends are special.
I bought a dog and she keeps me VERY busy 7 days a week!
My neighbor opposite is 85 and Still Works! ( I wonder if it's because his wife wants him out of the house, or he cant stand her lol!)
I think in the present climate i'll work until i'm physically unable to do so, same as a lot of people will have to do in the next 40 years and beyond.
Would i want to retire though, i'd like to do a 3 day week at some point i guess, but retiring completely just seems like a recipe to just get slow and old a lot faster.
Retired last year at 59. But work full time just about for a blood bike charity, no pay, but very rewarding :)
I got out of corporate world at 49. Four years later, no regrets at all. Everyday is my day, not someone else's. I do as I choose. True freedom. But then again, my career was financially rewarding but never my love. I wish I had had my own business as I might feel different about work. My final salary pension kicks in when I ask for it anytime after age 55. Will try to finesse that out, but a nice to have. Being retired, you need funds to enjoy the time.
I keep the business going although a lot smaller now. When we are busy I do the site meetings, costing and final accounts etc and I love it. Still meet people I have dealt with over the last thirty years and we love to have the craic. I can do most of what I have to do in about three mornings a week,so I cycle swim have lunches out with the wife. Oh we are still making money with not a lot of effort.
Last edited by hilly10; 25th August 2017 at 18:31.
Retired last Christmas at 59. Don't miss anything from work, maybe seeing some friends but pop by now and then. Don't have enough hours in the day now after walking mad Freddie the spaniel and all the other stuff you find to do. Plenty of hobbies and interests though so wouldn't go back unless forced to.
Ian
I retired in June this year at 52 . Wife had a stroke last year age 49 and that knocked us for 6 !
late last year I was hit bad with depression , anxiety and stress which we think was all to do with what happened with my Wife and work pressures .
decided enough is enough and quit .
we have a couple of rental properties which doesn't give us enough to live on but after some interest payments from investments we can get by just !,
cashed pensions in ready to take at Fifty Five but obviously reduced amount , but you never know what is around the corner .
me and my wife just love doing what we want when we want now and it is great !,
lee
Five years, two months and about a week to go for me. Not that I'm counting the days or anything...Tail end of my second career so nothing to miss about the world of work at all.
I'm 6 weeks into retirement (aged 67) and loving it. I have a zero hours contract with my ex-employer so that I can do old pieces of work when it suits. I will probably do the odd week here and there once the weather worsens. As a specialist it is quite lucrative so a week of work will fund a couple of weeks in the sunshine. As far as I'm concerned it's a Win/Win.
Be careful, you are in a dangerous position.
I also had a specialist position and was contracting and getting paid stupidly high rates. Therefore the temptation to carry on working was enormous because the money was flowing in and I was not spending it because I was working. Every job was going to be the last one but when the offer of another contract came in, I grabbed it. I was on the railway station catching the 6.40 into London and getting home around 7.45pm. I was realising I was no longer young and it was knackering me.
I had two friends in the same position and one retired at 68 and died five months later. The other had a stroke at 64 and is now basically useless. They both worked hard and had no retirement because they would not stop.
My wife almost put a gun to my head and made me agree to retire for 12 months and then take it from there. I retired at 61, I missed the lolly coming in but my stress levels went down and I am spending 5 months in Europe every year for the past 7 years. Successful retirement is down to two things, knowing when to do it and having a good pension to indulge your whims. If you got the pension, retire asap.
Don't even do part time because it will suck you back in to the routine.
I think the term 'retirement' means different things to different people.
My own interpretation of the term is based on affordability, i.e. when you no longer have to keep working in order to fund a financially acceptable lifestyle. FWIW, in my case that was at age 48 but yes, I do still miss the Friday night 'buzz'.
R
Ignorance breeds Fear. Fear breeds Hatred. Hatred breeds Ignorance. Break the chain.
I'm 40 now and enjoy working but it is a stressful job with health impacts. I've built myself a retirement plan which I stick to which will see me retire at 58 with maxed out pension, decent ISA savings, mortgage free main property and a £150k watch portfolio that with careful use of drawdown means a comfortable retirement in Thailand. The multiple property to rent out thing is a misnomer as it's getting taxed to death and you need to be absolutely certain you won't get divorced so I'm adopting a diversified route and as I built the plan and calculator myself it's great fun as it's relatively easy to get Isas with 10+% returns if you are willing to take calculated risks.
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Is the average house worth > 1 mill?
I retired at 65 two years ago and after working all my life I don't know how I fitted everything in while at work my days are now taken up with jobs around the house playing squash helping my son do his house up we've just sold our house and moving in about 3 weeks phew and more holiday time.
Doubt it, that's why I posted 1/2 million (as in 0.5!). Isn't the average around £300k nationally - although the 'value' refects the area so it's all proportionate unless the beneficiary lives in London and the deceased in Stoke!
My grandad was still working into his mid 80's. He was buying and selling cars into the motor trade 6 days a week, driving all over the place and stressing daily. He never got to enjoy retirement and died last year within a few weeks of getting ill.
Thank you for taking the time to write this, it has neatly captured a real concern of mine. I delayed my planned retirement date by two years because I was flattered that I was seen as indispensable; I am very aware of the danger of being sucked back in.
Fortunately my wife sounds rather similar to yours!
Oh and another thing - do not even think of doing voluntary work because if you are even half decent, you will end up being sucked into that as I was.
I resigned from every committee and panel that I was serving on 2 years ago and got my retirement back. Sometimes you just have to be selfish.
What this post says to me is 'retirement' is a very wide term!
Very few (on here at least) really retire in the sense of not working at all and I suspect with the blurring of the retirement age, this will continue to be the case? wh.ether part-time, voluntary, advisory, NED etc etc the majority carry on doing something!!
I'm aiming for 2018.....but doubt I'll do nothing at all (well, after a few months!)
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.
Isn't the average number of children 2.2, so that 0.5 will be ~0.25 (as in 250k) each?
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