Retirement...when, how old and how much??

dickie davies said:
My mum died at 60 and dad at 72
I'm 57 and in good health. I was cancer screened a couple of months ago and am in the low risk category
I'm looking to jack in work in five years, which should give me ten good healthy years in which no fucker, not even the Mrs, will be telling me what to do on a daily basis and I intend these ten years to be one long holiday

A lad I worked with is now 67 and in good health. Two years ago he qualified for his state pension, his Mrs works part time and qualifies for an NHS pension and is coming up to state retirement age. He's mortgage free and, two years ago, had a personal pension pot of £400,000
He loves his holidays and they have their first grandchild
He's very fit for his age but his family has a very dark history of hereditary bowel cancer for which he's checked every year
I asked him why the fuck he was still working as he'll never get to spend his pension money. He said that he wanted just one more year of work to pay for the kitchen extension then he would retire. Two years from that chat and he hasn't. The stock market has crashed which will have hugely impacted on his pension value and will take probably five years to recover
Lovely bloke but I think he's been a greedy fool
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It is
dickie davies said:
My mum died at 60 and dad at 72
I'm 57 and in good health. I was cancer screened a couple of months ago and am in the low risk category
I'm looking to jack in work in five years, which should give me ten good healthy years in which no fucker, not even the Mrs, will be telling me what to do on a daily basis and I intend these ten years to be one long holiday

A lad I worked with is now 67 and in good health. Two years ago he qualified for his state pension, his Mrs works part time and qualifies for an NHS pension and is coming up to state retirement age. He's mortgage free and, two years ago, had a personal pension pot of £400,000
He loves his holidays and they have their first grandchild
He's very fit for his age but his family has a very dark history of hereditary bowel cancer for which he's checked every year
I asked him why the fuck he was still working as he'll never get to spend his pension money. He said that he wanted just one more year of work to pay for the kitchen extension then he would retire. Two years from that chat and he hasn't. The stock market has crashed which will have hugely impacted on his pension value and will take probably five years to recover
Lovely bloke but I think he's been a greedy fool
Click to expand...

It is peoples different philosophies I find interesting. Setting a target date, the pension pot, are issues I get to listen to alot.Almost as if it starts a new life. I also visit the homes of many retired people, and don't like what i see. It is often not healthy. Sitting in front of the box all day.Inward negative attitudes abound.
I have a lifelong mate who has 10 apartments , a good income, and property portfolio. He wears tatters, buys cheap food, does his own post let cleaning etc, because he wants number11. The gathering of wealth is his only hobby. He will die a very rich lonely old man. I asked if he wanted to come out to my gaff in Spain, but he didn't want to be away from the property , and has stopped playing golf because he isn't fit enough.
I think getting the attitude correct is the key.
I am potless, but have my place in Spain which i go to every 3 or four weeks in Winter. Work about 20 hours a week, which i intend to carry on doing, play golf 3 or 4 times a week, managed 36 holes yesterday . I love travelling but still do it cheaply.
Exercise, health, being fit are far more important than expensive cruises, or flash cars. Time more important than money. Having no debt, but spending every penny I have is my way.
Fitness is the key, and joining a gym is the first thing people should do when they stop work.Yoga or pilates are great for the body and mind, impossible to enjoy wealth without the body and mind to do it. Your post implies that you already have a positive and thoughtful approach.
 
asahartford1 said:
It is


It is peoples different philosophies I find interesting. Setting a target date, the pension pot, are issues I get to listen to alot.Almost as if it starts a new life. I also visit the homes of many retired people, and don't like what i see. It is often not healthy. Sitting in front of the box all day.Inward negative attitudes abound.
I have a lifelong mate who has 10 apartments , a good income, and property portfolio. He wears tatters, buys cheap food, does his own post let cleaning etc, because he wants number11. The gathering of wealth is his only hobby. He will die a very rich lonely old man. I asked if he wanted to come out to my gaff in Spain, but he didn't want to be away from the property , and has stopped playing golf because he isn't fit enough.
I think getting the attitude correct is the key.
I am potless, but have my place in Spain which i go to every 3 or four weeks in Winter. Work about 20 hours a week, which i intend to carry on doing, play golf 3 or 4 times a week, managed 36 holes yesterday . I love travelling but still do it cheaply.
Exercise, health, being fit are far more important than expensive cruises, or flash cars. Time more important than money. Having no debt, but spending every penny I have is my way.
Fitness is the key, and joining a gym is the first thing people should do when they stop work.Yoga or pilates are great for the body and mind, impossible to enjoy wealth without the body and mind to do it. Your post implies that you already have a positive and thoughtful approach.
Click to expand...
I love keeping fit. Myself and daughter have had home routines going since gyms closed and I've enjoyed these as much as the gym, plus we've done a 3 or four mile walk every day
Walking is a hobby that I want to do more of and it's also something my mrs enjoys, so we certainly won't be cabbaging in front of a tele when we stop working
 
denislawsbackheel said:
That plan will only work if you own the house as tenants in common.
Most houses are owned as joint tenants where you both own all of it.
They never do “take the house”.
They put a charge on it until the survivor dies then call in the charge.
As they will on the half your wife will still have if she needs care.
Furthermore you want to hope your daughter doesn’t divorce after you’re gone and her ex demands his share of the assets...
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I didn’t know that I’ll have to look more into this, as for the daughter thing, i will actively encourage her never to get married and hopefully by the time she does pre nuptial agreements will be legal in this country.
 
asahartford1 said:
Retirement. The biggest con. Set up as some kind of lifelong aim by the powers that be. You will notice the rich and powerful do not aspire to "retire".
Work as little as possible, play as much as possible, stay as healthy as possible.
I wish I had the the statistics for the amount of people who die within two years of retirement, leaving more wealth than they have had at anytime in their lives, " not spent"
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That's the way I live my life, if I get fooked over by getting old and skint then so be it. Maybe a good time to take up Banzai skydiving
 
asahartford1 said:
It is


It is peoples different philosophies I find interesting. Setting a target date, the pension pot, are issues I get to listen to alot.Almost as if it starts a new life. I also visit the homes of many retired people, and don't like what i see. It is often not healthy. Sitting in front of the box all day.Inward negative attitudes abound.
I have a lifelong mate who has 10 apartments , a good income, and property portfolio. He wears tatters, buys cheap food, does his own post let cleaning etc, because he wants number11. The gathering of wealth is his only hobby. He will die a very rich lonely old man. I asked if he wanted to come out to my gaff in Spain, but he didn't want to be away from the property , and has stopped playing golf because he isn't fit enough.
I think getting the attitude correct is the key.
I am potless, but have my place in Spain which i go to every 3 or four weeks in Winter. Work about 20 hours a week, which i intend to carry on doing, play golf 3 or 4 times a week, managed 36 holes yesterday . I love travelling but still do it cheaply.
Exercise, health, being fit are far more important than expensive cruises, or flash cars. Time more important than money. Having no debt, but spending every penny I have is my way.
Fitness is the key, and joining a gym is the first thing people should do when they stop work.Yoga or pilates are great for the body and mind, impossible to enjoy wealth without the body and mind to do it. Your post implies that you already have a positive and thoughtful approach.
Click to expand...

Sounds the perfect description of what not to do and what to do
 
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