Pension question again. I am thinking of early retirement coming up 55.

No final salary pension but I do have a decent pension fund (defined contribution) plus savings and some rental property. Mathematically I think i can do it.

However psychologically I am concerned with the transition. Specifically I have been a bit of a saver and not very profligate over the years (watches notwithstanding). However I fear that with no regular income, just savings or drawdown from finite funds, then I might go into financial paranoia mode and try to save for a rainy day for fear of depleting the finite capital pool I have? And end up in self imposed penury.

If it was a final salary pension then the certainty of the income stream would be comforting. Even if the wealth perspective is little different

Has anyone faced the same problem and how do you manage a regular income to feel like a reliable pension income that should be enjoyed, without just feeling like you are spending hard fought savings that should be minimized and restricted to the least possible burn rate?

Probably not a question many folks have experience of but there are a few pension threads here?


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