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

dickie davies said:
A friend owns an apartment not far from Torrevieja
As a family we've used it and also with my mate and a couple of other lads, long weekends of sun, beer and a laugh
In the ten years of visiting up to covid I've seen and met so many retired couples who moved there to "live the dream" and every one sold up and moved back to the UK due to ill health or going stir crazy
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It was our plan to buy abroad but then Brexshit and a health issue got in the way. I have since retired early. But the idea of buying abroad has been put to one side. We looked at the figures and they just don't add up unless you're going to move completely. Buying costs that you'll never get back, ongoing fixed costs whether you're using the property or not, the capital amount that you lay out to buy could be in your pension gaining capital (no guarantee of course). Also the thought that as you own it you're pretty much tied to the place. On balance we'll use what we could have spent on loads of trips to loads of different places.
 
hampshireblue said:
It was our plan to buy abroad but then Brexshit and a health issue got in the way. I have since retired early. But the idea of buying abroad has been put to one side. We looked at the figures and they just don't add up unless you're going to move completely. Buying costs that you'll never get back, ongoing fixed costs whether you're using the property or not, the capital amount that you lay out to buy could be in your pension gaining capital (no guarantee of course). Also the thought that as you own it you're pretty much tied to the place. On balance we'll use what we could have spent on loads of trips to loads of different places.
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Just one more year in the UK and then we'll be moving abroad for good.

I'd agree with you that buying doesn't make much sense unless you're making a permanent move. Renting out your property in the UK and using the income from that to pay for your rent overseas makes more sense IMO.
 
Blue Maverick said:
For those retiring older I wonder what they are going to do, even the fittest 67/68 old isn’t going to be sky diving etc, insurance premiums would be sky high, yes there are holidays but look at what at they cost these days, Brexit will have fucked up many wanting to live in the sun into old age as well. Unfortunately they want to work most of us to the grave.
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oh, thanks for letting me know,...the sun only shines in the fuckin EU
 
So difficult to predict with any real accuracy, with the turmoil in the markets since Covid trying to predict anything is hard. I am hoping that I can still do this, my plan was to have in the region of £450k - £500k in my pension pot and savings when I pull the trigger.

My original plan / hope was to retire at 60 - 62, fortunate to be completely debt free with the house paid for, we have a comfortable but not lavish lifestyle and believe somewhere in the region of £27k a year between me and the missus would be fine.
 
abu13 said:
So difficult to predict with any real accuracy, with the turmoil in the markets since Covid trying to predict anything is hard. I am hoping that I can still do this, my plan was to have in the region of £450k - £500k in my pension pot and savings when I pull the trigger.

My original plan / hope was to retire at 60 - 62, fortunate to be completely debt free with the house paid for, we have a comfortable but not lavish lifestyle and believe somewhere in the region of £27k a year between me and the missus would be fine.
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I'm in a similar position to you I think, planning on the basis of a savings pot of circa 350k, wife has a pension she starts to draw in October, original plan was to retire March 22, now its March 24. S&S ISA hasn't moved in 18 months (well it has, a lot, but it's been equal in both directions) Finally got a decent rate on my cash ISA which will help a little, but I'm by no means confident of the current target date
 
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