Retiring

Not watched the news on tv since last March.
I don’t have Sky and only watch the football if it’s City winning or the Scum losing.
I don’t tweet, Instagram and my use of What’s App is a golf group of 4 or my kids.
The only vice I have is Bluemoon.
 
Hung my boots up when I took redundancy last March... It's been a weird first 11 months of retirement because of Covid

Totally out of the blue last week I was asked by my old customer if I'd like to apply for a job with them... Had a short call today and now waiting for some sort of feedback from their HR team...

What's there to lose... I'm stuck at home anyway so doing a predominantly home based job might be a good thing...

I'll see what the package they offer looks like I guess
 
I'm retiring in 3 weeks time after 38 years with my only employer, a blue chip US technology company. Had to drop off some work related paperwork this morning, left thinking this is the last time I'll likely be in the office (been shut during lock down), the same office I turned upto 38 years ago! I know I'm in a very fortunate position compared to many others, but the timing for the company and myself th decision was a non brainer. Got a long list of jobs, activities I want to do, roll on the next phase.

reading these posts has been really productive in terms of planning, thanks.
 
Bluemanc100 said:
Hung my boots up when I took redundancy last March... It's been a weird first 11 months of retirement because of Covid

Totally out of the blue last week I was asked by my old customer if I'd like to apply for a job with them... Had a short call today and now waiting for some sort of feedback from their HR team...

What's there to lose... I'm stuck at home anyway so doing a predominantly home based job might be a good thing...

I'll see what the package they offer looks like I guess
Click to expand...
Like you say, at present what else is there to do other than earn money.

If / as and when the world becomes fun again, quit..........
 
Onholiday(somemightsay) said:
Great position to be in.

I look forward to a time where I can work because I decide I want to as opposed to having to.........
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Also I’ve retired and I’m now doing a second career I like the fact I just do my job competently and have no ambition to get promoted so I can basically avoid all office politics and leave when I like ....
 
rowarta said:
I'm retiring in 3 weeks time after 38 years with my only employer, a blue chip US technology company. Had to drop off some work related paperwork this morning, left thinking this is the last time I'll likely be in the office (been shut during lock down), the same office I turned upto 38 years ago! I know I'm in a very fortunate position compared to many others, but the timing for the company and myself th decision was a non brainer. Got a long list of jobs, activities I want to do, roll on the next phase.

reading these posts has been really productive in terms of planning, thanks.
Click to expand...
Enjoy it... I lasted 11 months as it looks like I'll be starting with my old customer after being asked to join their team.. I could start as early as this week... Amazing as I really wasn't looking to work again
 
Bluemanc100 said:
Enjoy it... I lasted 11 months as it looks like I'll be starting with my old customer after being asked to join their team.. I could start as early as this week... Amazing as I really wasn't looking to work again
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thanks and congratulations. if I can enjoy summer / autumn, then see what's around to get me through the dark winter months.
 
rowarta said:
thanks and congratulations. if I can enjoy summer / autumn, then see what's around to get me through the dark winter months.
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It's a pity that the opportunity that just landed for me didn't come 6 months ago... But I'll take it and see where it goes... I can always sack it if it's not what I expected it to be...
 
Bluemanc100 said:
It does cost but there are free pension calculators and the government have some retirement advice sites... Google the Pensions Advisory Service
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Thanks trouble is with me I dont understand it very well.

Just looked at buying an annuity for 100k and that gives me 1800 a year ! My rent is 800 per month !

I dont have any debt and am good with living within my means just dont understand how piss poor pensions seem to be, to me my pot seems massive ;) if I took it all out to live on I could live comfortably until I pop off ! ( I think lol )
 
give it to gordon said:
Thanks trouble is with me I dont understand it very well.

Just looked at buying an annuity for 100k and that gives me 1800 a year ! My rent is 800 per month !

I dont have any debt and am good with living within my means just dont understand how piss poor pensions seem to be, to me my pot seems massive ;) if I took it all out to live on I could live comfortably until I pop off ! ( I think lol )
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The annuity rate seems very low,do you qualify for impaired life annuity have you considered drawing down on your pension?
 
give it to gordon said:
Thanks trouble is with me I dont understand it very well.

Just looked at buying an annuity for 100k and that gives me 1800 a year ! My rent is 800 per month !

I dont have any debt and am good with living within my means just dont understand how piss poor pensions seem to be, to me my pot seems massive ;) if I took it all out to live on I could live comfortably until I pop off ! ( I think lol )
Click to expand...
I would say retiring at state pension age with £100k and being frugal is easily done, but retiring much earlier would be a challenge. I got higher figures for a healthy 55yo on the Aviva calculator with that pot (around £3300) and it increased to £4500 for a 65yo. You can take the 25% of course which would give £12500 pa to live on for the two years upto 67, but then your annuity will be lower at around £3400. The 25% wouldn't be enough for more than 2 years I wouldn't have thought.

Regarding value, you just take your pension pot and divide it by the number of years you expect to live. If you're 55 with a £100k pot, with avg life expectany at 82, then £100k/27 = £3700 pa. You get less if you're healthy as you will probably live another 5 years, so £100k/32 = £3125.

Figures will obviously go down if you add dependants, protect your fund payments if the worst happens etc..
 
silvalining03 said:
The annuity rate seems very low,do you qualify for impaired life annuity have you considered drawing down on your pension?
Click to expand...

No I haven't looked at drawing down. I guess I will have to get a financial advisor.

If I didnt have to pay rent I would be in a much better place, but ex got the house and I cant see us getting a council place. Paying private rent is a killer !
 
Citizen of Legoland said:
I would say retiring at state pension age with £100k and being frugal is easily done, but retiring much earlier would be a challenge. I got higher figures for a healthy 55yo on the Aviva calculator with that pot (around £3300) and it increased to £4500 for a 65yo. You can take the 25% of course which would give £12500 pa to live on for the two years upto 67, but then your annuity will be lower at around £3400. The 25% wouldn't be enough for more than 2 years I wouldn't have thought.

Regarding value, you just take your pension pot and divide it by the number of years you expect to live. If you're 55 with a £100k pot, with avg life expectany at 82, then £100k/27 = £3700 pa. You get less if you're healthy as you will probably live another 5 years, so £100k/32 = £3125.

Figures will obviously go down if you add dependants, protect your fund payments if the worst happens etc..
Click to expand...

Crickey my rent is over 9k year!! And will only go up
 
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