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

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.
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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?
 
pride in battle said:
Fucking hell rub people's nose in it !!!! ;)
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Sadly he is right if you want to retire without too many money worries. Even then you need to ensure that whatever is left in your pension, that you are drawing down on, continues to perform. Then the game is to ensure you don’t end up giving it all away in care fees when you (hopefully) make it to your twilight years and can leave a bit to your offspring.
Sounds like a pretty shit existence. I don’t think I’m planning on fully retiring, until I’m well into my late 60s, will probably do a couple of days a week consultancy which should keep my grey matter working from around 58 onwards and just take one of my pension to make up the shortfall.
 
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Assuming my health is OK, sometime between 62 and 64 with enough money to carry on enjoying holidays and approximately £300K in the pension pot.

No point in retiring if you haven't got enough money to do the things you want to do in retirement.
 
Cricket Blue said:
Well I'm 47 and I've already had enough of working! I'd pack it in tomorrow if I could
It's disgraceful that they expect you to work until your nearly 70, they sure as hell know what they are doing to us
Twats
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You don't have to work until you're 70. You can retire whenever you want, but you will only be entitled to the state pension when you reach a certain age
 
Mum and dad died early sixties,both heavy smokers,habit from the war,woodbines,park drive,didn’t,leave home till I was 23,Construction worker,then oil field till I was sixty,thinking they died young whats my odds,at least can spend rest of my years with daughters,bugger me now in my seventy seventh year,playing golf(badly)twice a week usually at Disley.So all that planning,and just got my hearing back,(see City Atmosphere)life looking good,bonus City are the same.Life hey.
 
dickie davies said:
You don't have to work until you're 70. You can retire whenever you want, but you will only be entitled to the state pension when you reach a certain age
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Yes I know that. But a lot of people cannot afford to pay into a private one or have a company one that's rubbish like the goverment NEST one.
So millions will still face working until they are pratically dead. My Dad died at 66 and worked hard most of his life and didn't get to enjoy it.
Like I said they know what there doing despite them dressing it up in other ways.
 
I could not go to work every day if I hated my job like some people do. Waiting for that golden year must drag on . Fair play to people who do that and enjoy the fruits of their labour. I would worry too much that I would drop dead the year before retirement . I generally shit can most things in life after four years and it's working out fine. I've left jobs that i know i will never earn the same money again "ever" and i knew that when i left . As they say long time dead .City is the only thing that's survived this crazy mantra
 
wahablue said:
Mum and dad died early sixties,both heavy smokers,habit from the war,woodbines,park drive,didn’t,leave home till I was 23,Construction worker,then oil field till I was sixty,thinking they died young whats my odds,at least can spend rest of my years with daughters,bugger me now in my seventy seventh year,playing golf(badly)twice a week usually at Disley.So all that planning,and just got my hearing back,(see City Atmosphere)life looking good,bonus City are the same.Life hey.
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Had to check the post then, thought it was mine, the old fellow 60 Woodbines a day, died at 63, government banked that, my old lady 66, 20+ Park Drive a day.
 
It is bound to rise sooner or later.
dickie davies said:
You don't have to work until you're 70. You can retire whenever you want, but you will only be entitled to the state pension when you reach a certain age
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Any defined benefit pension scheme works back from the state pension age if you retire early.

Early retirement age is 55 and moving to 57 when the state one moves to 67. You lose 4.2% a year retiring before stage pension age too, so if that goesback 3 years another 12.6% of the full lot lost.

Retire at 55 on zero pension and then lose 42% at 60, plus 15 years of contributions.
 
Stephen Ireland's pants said:
I could not go to work every day if I hated my job like some people do. Waiting for that golden year must drag on . Fair play to people who do that and enjoy the fruits of their labour. I would worry too much that I would drop dead the year before retirement . I generally shit can most things in life after four years and it's working out fine. I've left jobs that i know i will never earn the same money again "ever" and i knew that when i left . As they say long time dead .City is the only thing that's survived this crazy mantra
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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
 
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