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

[Gorton_Tubster]

Iv semi retired. Earnt my shares and now working to keep fit and have framework around my life.

 

[Stephen Ireland's pants]

I think you will find a lot of people are in jobs they hate and can't don't want to carry on doing it.
Sadly some people don't have a choice, theres no chance I am working another 20 years they can fuck off

Possibly the only good thing to come from covid is that people re evaluated some things in life . I've been to loads of places <pubs > and staff have changed jobs/careers. I've jokingly retired at 35 and 45 but I will have nothing when I am 55 unless I win the lottery or go back to work. Or I meet my maker before 55 then it won't be a issue anyhow. If you see a miserable old man at city selling programs in 30 years that will probably be me . Up the blues

 

[asahartford1]

You talk a great deal of sense mate. I always promised my wife I would retire early as I could so we could spend time together and with our kids and grandkids. I went at 55 and have had the last 10 years enjoying that, good holidays, fishing, doing stuff I just never had the time to do before. I could have stayed on another few years and we would have been considerably more wealthy but what is the point? I have seen too many knock their pan in to build a career, work until their mid sixties and then die within a couple of years. What’s life for?

Thank you.

Have just come off the golf course and read your very sensible post.
Off to my house in Spain for 3 weeks late Oct and again in Jan.
A good " corporate " buddy of mine diagnosed with Kidney failure last week, age 55, doubt if he will spend his pension pot.
Time is the most valuable thing you can have.

 

[BongoBlue]

Over here in the US, while I can claim Social Security now, if I wait until I am 67, I get the full benefit. That's 4.5 years away now. Luckily I actually like my job (defence contractor) so it's not like I am itching to retire. But it is coming up and I am looking forward to it. I am still pretty healthy and play league football still. Because if you retire unhealthy, you sure won't enjoy it...;)

The biggest problem is the extraordinary college debt that I have cosigned for my kids. I am trying to pay off as much as I can for them so that they won't be saddled with too much debt which is sadly commonplace here. And while I had significant retirement savings built up, the stock market slide has very much adversely affected it.

The solution? Live somewhere nice that doesn't cost too much; i.e. Costa Rica or Panama. Or even Mexico. Of course I would love to come back home to Ireland but I fear that it's way too expensive now. There's still time for the old markets to come back and I will be considering my options over the next few years.

 

[Stephen Ireland's pants]

Just had a look at my pension statement, now i knew it wasn't going to make good reading but it has dropped by £30k since January despite me putting in over £6k this year. I wouln't want to be setting out on retirement at the moment.

So that's quite a positive thing for someone like me who has no pension. It means I've not lost £30 k . Every cloud and all that . I hope it recovers for you as that's a big number. It confirms that I might be best putting of this pension thing for another 20 years

 

[SebastianBlue]

Never if Kwarteng has anything to do with it.

 

[urban genie]

Never going to be able, won't be able to afford it will be working till I die

 

[Manchester33]

It confirms that I might be best putting of this pension thing for another 20 years

Actually, it probably confirms that now is the best time to start investing in a SIPP.

The stock market has taken a beating, so if you fancy buying some stocks on sale (with great tax incentives too), then now is arguably the best time in the last decade to get started.

 

[Manchester33]

Never going to be able, won't be able to afford it will be working till I die

Can I suggest reading "your money or your life"... a great book, might change your outlook a little.

 

[abu13]

Pensions are a long game investment. You’re currently buying shares/investment cheap which will recover once the current turmoil subsides. It’s a problem if you want to retire within the next few years but if you are 7-10yrs away then you will be fine.

Thats why i'm not panicking too much at the moment, i keep claasing it as buying shares at a discounted price. My plan was to retire in 8 years but if the figures worked possibly take a couple of years earlier.

That said Putin may make the whole subject moot if he goes full Tonto.