Retirement....is it all it's cracked up to be ?

I retired at 57. Work was increasingly frustrating and I realised during the pandemic that with little to spend my money on that I should be maximising my DC pension contributions. Then 3 work colleagues dropped dead within 3 months of each other. All of these people had office jobs, one in his 30s, another in his 40s and one in her 50s, and my mind was made up.

Since I’ve retired, I’ve had lots of holidays here, there and everywhere but nothing very distant – I’ve been there done that, I’ve seen loads of bands and, of course, followed City everywhere. I’ve had a great time, doing what I want, when I want, for me and my Mrs.

Some of my mates are still working, most because they have family and/or financial commitments, but some are there later in life because they say they enjoy it. That’s fine but you don’t want to be the old duffer or a blocker and you definitely don’t want to give away your best years and health to an organisation that won’t miss you the day after you’ve gone, however important you think you are.

My advice is find out if you can afford to retire and if you can, make the best career decision of your life and just do it.
 
I’ve just spent 5 months off work, and I wasn’t bored for a single second of it. I’d be a great Lotto winner or retiree.

I'm about a quarter of a century away from retirement yet, and in no rush to get there. Life is extremely short and precious, and should not be wished away.

But I’ll certainly enjoy retirement when I get there.
 
mrtwiceaseason said:
I've accidentally retired at 59 it wasn't planned it just sort of happened.
I was told to come back to work after a long period of what originally started off as genuine illness to return to work ,,having taken legal advice I found out the works Dr and my own doctor assesment were just opinions and the decision was mine .
I went you know what I've done 40 years fuck it ,Tara
Didn't take any financial advice really no need to ocercomplcate things put my lump sum in the bank at 4% interest I know exactly what it pays out and when .that pays the mortgage each month .
Have kept the mortgage on as that's at 1.5 % and my savings are paying 4% .
At present managing 1 to 2 European holidays a month .
Am totally realistic I'm in the best health at 60 as I'm ever going to be now it only going down hill ,if I reach 70 happy days owt else is a bonus .
Not an orthodox plan but I'm bloody loving it.
Click to expand...
Hopefully live well past 70! (I’m 72 you’ve got me worried if 70 is the benchmark!) just back from my 5K Saturday run
 
mrtwiceaseason said:
I've accidentally retired at 59 it wasn't planned it just sort of happened.
I was told to come back to work after a long period of what originally started off as genuine illness to return to work ,,having taken legal advice I found out the works Dr and my own doctor assesment were just opinions and the decision was mine .
I went you know what I've done 40 years fuck it ,Tara
Didn't take any financial advice really no need to ocercomplcate things put my lump sum in the bank at 4% interest I know exactly what it pays out and when .that pays the mortgage each month .
Have kept the mortgage on as that's at 1.5 % and my savings are paying 4% .
At present managing 1 to 2 European holidays a month .
Am totally realistic I'm in the best health at 60 as I'm ever going to be now it only going down hill ,if I reach 70 happy days owt else is a bonus .
Not an orthodox plan but I'm bloody loving it.
Click to expand...
Just a note that if your lump sum is bringing you more than £1000 a year and is just in a savings account paying interest the interest over £1000 will be taxed so you won’t be getting 4% nett. If you are a basic rate tax payer it would be equivalent to getting 3.2% interest.
Stick £20K a year of it in an easy access ISA and any interest is tax free and you can draw that any time you want.
 
Last edited:
Centurions said:
Depends on your job really and how much you enjoy it. That said, I've retired a couple of years early (due to the wifes health) and I definitely don't miss it.

Edit: actually it was three and a half years early but the last 14 or so months have gone past in a blur.
Click to expand...
Fair fucks mate but I can’t believe there is anyone who would genuinely choose work over doing whatever the fuck they wanted all day.
 
cookster said:
No, I'm worth what I'm paid.
Click to expand...
Well to me you cant love something if you wouldn't do it without pay. Its a pretty decent way to judge how much you actually like doing something.
I think when people say they love their jobs its more a case of they can think of worse ways to earn a living.
 
hilts said:
Well to me you cant love something if you wouldn't do it without pay. Its a pretty decent way to judge how much you actually like doing something.
I think when people say they love their jobs its more a case of they can think of worse ways to earn a living.
Click to expand...
That may well be valid if I said "I love my job"
 
I’m 62 and work 3 days. Which suits me. Like many others, I divorced in my 30s, started again from scratch, had a second family at almost 40. Which tends to mean early retirement is a non starter.
 
Went out with all the retired lads from work yesterday, oldest retired 20 years ago right upto me 3 years, there was not one regret about any of us leaving and no one misses the job, a few work part time for easy money more than anything the rest just hobbies and travelling.
 
blue b4 the moon said:
You'll have a fucking ball mate.

I got out at 51, now 63 and honestly the last 12 years have gone in an instant (might be 'cos City are so good).

I was in the right place and at the right time in a Civil Service job and took my full Occ-Pen when I left but.it didn't increase with inflation until I was 55. I was sick to death dealing with fucking idiots who were supposedly on my side on fraud and all the red tape.

Once Mrs Moon's (she retired 8 years ago through ill health but, fine now) father passed we moved out of Oldham to the seaside and now do long prom walks. go for a beer if we fancy it, in fact do what the fuck we want really.

I've become OK+ at DIY, still do City but in a cheaper seat although the travelling is a pain I can walk less than 1/2 mile and I'm here wandering into the sun on the way for a beer.

What else I do? Who knows? but I'm yet to sit down twiddling my thumbs in 12 years.

View attachment 177311
Click to expand...
Where did those 12 year's go, I remember you saying about applying for VES and it feels like about three years ago, not 12.
I have cleared the mortgage just over a year ago and cleared two loans in the last few years, and got promotion in work.
57 now and putting a right few quid away each month to potentially buy a place in Bulgaria as the occupational pension will be enough to live on there, or exist on here.
Hope to retire at 62, but quite possibly work to 63 and pull the plug.
.I love reading and watching wildlife documentaries or van life refurbishments etc, so morning coffee on the balcony reading a book, then walk along the coast stopping for a snack, and an evening watching YouTube videos, or football is certainly something I am planning for.
 
denislawsbackheel said:
Just a note that if your lump sum is bringing you more than £1000 a year and is just in a savings account paying interest the interest over £1000 will be taxed so you won’t be getting 4% nett. If you are a basic rate tax payer it would be equivalent to getting 3.2% interest.
Stick £20K a year of it in an easy access ISA and any interest is tax free and you can draw that any time you want.
Click to expand...
Have had 2 tax years for isas so maxed that out ,the plan is every April 1st to put in what I'm allowed and at some point have all the lump sum earning tax free .he said sounding like he knows what he's doing haha .
 
Last week marked the one year anniversary of the last day I worked (and got paid for it).
I took off the summer of 2024 and went back to work in Oct expecting that I would enjoy being back.
Lasted about 6 weeks before I decided I no longer enjoyed my job.
Spent all last summer up at the lake, Atv riding, boating etc..
Kept busy by building a large deck for a friend and myself. Hopefully I can keep myself entertained until May and I’ll back up there building some more stuff at a relaxing pace.
 
Bluemanc100 said:
6 years into retirement now (62) and it's fucking marvelous.... well, apart from SWMBO having Lymphoma that is

Thankfully after a tough couple of years she's been twelve months in Full Metabolic Response so long may that continue...

If you can stop then do it ASAP
Click to expand...


Good luck to your wife and yourself mate.
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top