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

Millwallawayveteran1988 said:
My father in law the same sadly. Retired too early, no hobbies, no friends and just watches tv all day now. He is looking very old and frail. Some people thrive in retirement though. Everyone is different.

Saying that I look at the likes of Attenborough, Bill Roache and other actors still working in their 90’s and perhaps there is something in it. However I would imagine they enjoy their jobs more than some.
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That’s the difference, if it’s on your terms where you only do the jobs you want to do, then work becomes a pleasure.

I enjoy the technical side of my job but I hate the politics in senior leadership. At present the politics are a necessary evil but would I want to be doing my current role into my 60s, absolutely not. When I retire, if I can step back and just do a few days a week as a Consultant/Engineer I would enjoy that or maybe even just do a bit of charity work.
 
Millwallawayveteran1988 said:
My father in law the same sadly. Retired too early, no hobbies, no friends and just watches tv all day now. He is looking very old and frail. Some people thrive in retirement though. Everyone is different.

Saying that I look at the likes of Attenborough, Bill Roache and other actors still working in their 90’s and perhaps there is something in it. However I would imagine they enjoy their jobs more than some.
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To be fair, if I had Attenboroughs job I'd "work" till I dropped too. On the other hand if I had Bill Roaches job I'd probably hurry along to the end of the road
 
I’ve been retired 4 years now . The last 12 months I’ve been to the Maldives , Singapore a week in Whitby just before Christmas and just returned from 2 weeks in Lanzarote . I walk miles to keep fit and walk either Southport seafront or Lytham seafront once a week go fishing 3 times a week no matter what the weather have a season ticket for City and another season ticket for Wigan Warriors rugby league . Got 2 little dogs who are fantastic company and love the countryside , oh and the wife who is a rugby league nut hence our Wigan Warriors season tickets . We both love a pint or two aswell. Work ? Nah !
;-)
 
Dropped down to 4 days a week as my 50th treat. Lasted 9 months before going back to 5 days and would have done it sooner if work had let me. Can't say I enjoy work, but it was better than daytime TV and being dragged round Tesco. Getting a week or two off and just sitting reading or watching Netflix is great; doing the same thing week after week, even if just for one day, becomes tedious very quickly.

Still had one at school, so too soon for lots of holidays and didn't feel like had the money for doing that anyway.

The best thing I've seen said about retirement is to retire to something, not from something. Need to make sure I find the 'to' before doing it again.
 
Kompany Car said:
The cake is plenty big enough it’s just those at the top table want a bigger share and the rest are left with crumbs.

The money needs to come through taxation and they could start with not abolishing the limit on pension contributions. They could have raised it slightly but instead scrapped it, making it a real give away to people on large salaries and the wealthy. Make capital gains and dividends tax in line with income tax rates would also raise around £20Bn.

This isn’t a case of taxing the wealthy till they squeak, it’s about ensuring that they pay a fair share. Studies by the LSE show that the wealthy with incomes in excess of £1m have a typical tax rate of around 21% which is below that of those earning the median wage. That can’t be right in a civilised society.
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It’s good to see someone put a very reasoned case together without becoming abusive.
Just to deal with the points you make.
Human nature being what it is everyone wants more, there just isn’t enough to give everyone what they want.
As regards the pension changes, we know why the Government brought that change in, the NHS consultants refused to work additional hours as their effective tax Tate became 55%.
Some additional tax will be recovered when they get around to drawing their pension.
Capital Gains Tax. It was proven last time they raised the rates the tax take went down.
Dividends rates in line with income tax, the main losers there would be the pension funds and ultimately those with a private pension fund so less incentive to save and hence become more reliant on the State.
I think the evidence says the wealthy are paying a higher percentage rate than they have ever done before.
Tax them even further and then why would they bother taking risks, employing others, putting their wealth on the line etc with personal bank guarantees.
Some might not like it but it’s a fact the market determines what your worth as an employee
 
Gundoggin said:
I’ve been retired 4 years now . The last 12 months I’ve been to the Maldives , Singapore a week in Whitby just before Christmas and just returned from 2 weeks in Lanzarote . I walk miles to keep fit and walk either Southport seafront or Lytham seafront once a week go fishing 3 times a week no matter what the weather have a season ticket for City and another season ticket for Wigan Warriors rugby league . Got 2 little dogs who are fantastic company and love the countryside , oh and the wife who is a rugby league nut hence our Wigan Warriors season tickets . We both love a pint or two aswell. Work ? Nah !
;-)
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This is what retirement is all about but there is always someone happy to call you a smug twat for actually enjoying it.
Having a lot of money in to retirement helps massively to do the stuff that could only be dreamed about when working.
The thought of retiring on a State Pension with very little other income would be very restricting.
 
halfmist said:
This is what retirement is all about but there is always someone happy to call you a smug twat for actually enjoying it.
Having a lot of money in to retirement helps massively to do the stuff that could only be dreamed about when working.
The thought of retiring on a State Pension with very little other income would be very restricting.
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Indeed . Imperative to stay relatively fit and healthy and young at heart young in mind if that makes sense . Lockdown a year into retirement also made me re evaluate everything and be more determined to be active and do the things you always wanted to do . Positive state of mind is huge even with the mess the UK is in right now and being older and wiser has its benefits in the current situation. Hope this helps a little for those thinking about retiring early or are in a position to do so .
Got another 8 years before I get state pension, never mind lots to do before then !
 
Gundoggin said:
Indeed . Imperative to stay relatively fit and healthy and young at heart young in mind if that makes sense . Lockdown a year into retirement also made me re evaluate everything and be more determined to be active and do the things you always wanted to do . Positive state of mind is huge even with the mess the UK is in right now and being older and wiser has its benefits in the current situation. Hope this helps a little for those thinking about retiring early or are in a position to do so .
Got another 8 years before I get state pension, never mind lots to do before then !
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I genuinely do feel sorry for those who wanted to go back to work after retirement,fear retirement, or have become a Jim Royale and their relationship with their other half has suffered.
I have had offers to go and work for others but this has been firmly declined.
I don’t regret a single moment about retirement but I am in the very fortunate position to enjoy my hobbies holidays home etc financially.
 
The days fly by, I don’t miss work at all, once my back was feeling ok in jan, I’ve cleaned out the loft, insulated and boarded it out, ripped an old shed dune built another, currently having the kitchen done and helping out with that. I do about 6 miles a day walking the dog in between the school run. Get to go watch City or pop to the cinema when I want, I seem to spend less money, happily play on the Xbox or watch a film during the day, im not bored at all. When sumner comes I’ll be doing the garden and getting out for longer walks with the dog, I’ve never been to the lakes so hoping to get up there.
Trying to get us back to work, why would I want to be paying 20% tax for the privilege, if I get £100 a day I’m taking home £80 for say 9 hours or so, no thanks.
 
halfmist said:
This is what retirement is all about but there is always someone happy to call you a smug twat for actually enjoying it.
Having a lot of money in to retirement helps massively to do the stuff that could only be dreamed about when working.
The thought of retiring on a State Pension with very little other income would be very restricting.
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A nightmare although I think you'd be entitled to pension credits etcetera
 
So....aside from the free bus pass what other benefits do you get, if any, on reaching FOC age?
 
I retired three years 'early' and don't know where the time has gone.

I did wonder if I'd get a little bored or handle our long winters, but honestly the time flies by. I'm not one for TV until the evening, although I might pop it on when/if I stop for lunch, but not for sitting all day watching it.

It suits my personality, I can do what I want, when I want and love it. I'm fortunate that I am fit and healthy, still play football and walk a couple of miles most days.

Can't wait until spring comes and the garden is workable, but I love growing my vegetables and just pottering around out there, even mowing the grass.

I think it all depends on the individuals personality.

My better half would struggle when she eventually gets to that point. She likes shopping and interaction with people, so if she couldn't be out and about all the time with money to spend, it would be tough for her.........probably for me as well!! :) :) :)
 
Slipper One said:
I retired three years 'early' and don't know where the time has gone.

I did wonder if I'd get a little bored or handle our long winters, but honestly the time flies by. I'm not one for TV until the evening, although I might pop it on when/if I stop for lunch, but not for sitting all day watching it.

It suits my personality, I can do what I want, when I want and love it. I'm fortunate that I am fit and healthy, still play football and walk a couple of miles most days.

Can't wait until spring comes and the garden is workable, but I love growing my vegetables and just pottering around out there, even mowing the grass.

I think it all depends on the individuals personality.

My better half would struggle when she eventually gets to that point. She likes shopping and interaction with people, so if she couldn't be out and about all the time with money to spend, it would be tough for her.........probably for me as well!! :) :) :)
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Exactly this.
I semi retired at 50 and my Mrs at 44 and then the both of us fully when I was 62 just before lockdown.
I am quite happy pursuing my own hobbies and I was also concerned how my Mrs would cope if I did a Rod Stewart and locked myself in my hobby room for hours on end with my model railway.
I persuaded her to join the local WI , it’s not all about raising funds for the Tories or Jam and Jerusalem and she now has lots of interests.
During the winter months we make a point of going to the pub 6-8 or lighting the fire having a game and a catch-up.
Neither of us would ever work again no matter what incentives they come up with.
 
halfmist said:
It’s good to see someone put a very reasoned case together without becoming abusive.
Just to deal with the points you make.
Human nature being what it is everyone wants more, there just isn’t enough to give everyone what they want.
As regards the pension changes, we know why the Government brought that change in, the NHS consultants refused to work additional hours as their effective tax Tate became 55%.
Some additional tax will be recovered when they get around to drawing their pension.
Capital Gains Tax. It was proven last time they raised the rates the tax take went down.
Dividends rates in line with income tax, the main losers there would be the pension funds and ultimately those with a private pension fund so less incentive to save and hence become more reliant on the State.
I think the evidence says the wealthy are paying a higher percentage rate than they have ever done before.
Tax them even further and then why would they bother taking risks, employing others, putting their wealth on the line etc with personal bank guarantees.
Some might not like it but it’s a fact the market determines what your worth as an employee
Click to expand...
Boo fucking hoo
 
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