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

[Bournemouth Blue]

Too late for me, I am receiving State and Occupational pension, no means of topping it up apart from a lottery win. We felt comfortable before Covid, now not so sure

 

[Citizen of Legoland]

Every year I check. Every year I realise I need to work an extra year. Use to hope to retire at 58, now be lucky if it’s 62.

 

[halfmist]

Seemed pretty jealous of public sector workers striking for better pay and conditions.

That’s what I like so much about Bluemoon, it’s full of conspiracy theorists and those happy to give them the thumbs up.
Why on earth would I be jealous of public sector workers.

 

[meltonblue]

That sounds just like our lot whether Labour or Tory.
You think you have a say but you don’t really.
I have found through life if you stand on your own two feet don’t be jealous of anyone, make your own luck from hard work it’s a good recipe for success

Individually I get the argument a little behind that view. Only really works if they also realise for society to work, it relies on that being rewarded at all levels though.

Depends how you view success though. We seem to be going further and further away from seeing it as value.

 

[flook]

Every year I check. Every year I realise I need to work an extra year. Use to hope to retire at 58, now be lucky if it’s 62.

Are you me?
Original intent was to retire last year at 57, put off for various reasons outside my control (actually managed 5 months before I had to go back), replanned for this year, put off because of Pootin and the effect on my ISA, replanned for next year, already looks in jeopardy :/

 

[heslops barnet]

Every year I check. Every year I realise I need to work an extra year. Use to hope to retire at 58, now be lucky if it’s 62.

Your country need you…;-)

 

[halfmist]

Individually I get the argument a little behind that view. Only really works if they also realise for society to work, it relies on that being rewarded at all levels though.

Depends how you view success though. We seem to be going further and further away from seeing it as value.

Fair points meltonblue.
There is only I cake however and the only way to make the cake bigger is through productivity increases.
It is very hard to get productivity gains in the public sector so they have to be provided by cuts elsewhere otherwise where does the money come from.
The left will say, tax the rich more or cut tax avoidance/ evasion but post war Governments of all persuasions have found this extremely difficult to do.
Perhaps we could start with those businesses who are happy to put cash only in their shop windows.

 

[DenisLawBackHeel74]

Your country need you…;-)

You may laugh but they will try to get retirees back to work with honey….and if that doesn’t work it will be the big stick!

 

[tolmie's hairdoo]

Having seen my dad physically and mentally age after retiring last year at the age of 71, I can honestly say I will work until I drop.

Worked since he was 15 like my mum and the pair have little motivation and purpose anymore.

Tried the whole volunteering/part-time job thing and they sit and watch The Chase and bicker over the slightest thing.

Live in a flat now which is their own and have been married almost 50 years.

Retirement don't look too great from where I view it.

As long as my dad has money for a pint and the match and my mum can get him out from under her feet, they don't seem to care.

Having grafted all their lives and never been in a position to salt away huge amounts of money, it's entirely their prerogative how they live, but I worry about them very much and I have decided to work for as long as I possibly can.

 

[paulchapo]

You may laugh but they will try to get retirees back to work with honey….and if that doesn’t work it will be the big stick!

I messaged Hunt the **** and said I'd be happy to go back to work for a couple of years on an MPs wages and expenses.

 

[Kompany Car]

Fair points meltonblue.
There is only I cake however and the only way to make the cake bigger is through productivity increases.
It is very hard to get productivity gains in the public sector so they have to be provided by cuts elsewhere otherwise where does the money come from.
The left will say, tax the rich more or cut tax avoidance/ evasion but post war Governments of all persuasions have found this extremely difficult to do.
Perhaps we could start with those businesses who are happy to put cash only in their shop windows.

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.

 

[paulchapo]

Want to get people back to work? Put up rent/mortgages. Increase the cost of vital things people need to survive, like fuel, heating, food so the money they thought they could comfortably live on is no longer enough. Oh wait a minute......they've done exactly that.

 

[BrianW]

It is horses for courses. Some people actually find work enjoyable and fulfilling and have no real interests to occupy them away from it.

Others (like me) could happily retire at 25. Or even 18. I have not been bored for a single second since leaving work and as my wife is also my best friend on God's earth we are very happy together. Not every couple is like that. I know a fair few who basically detest one another. In one case, the bloke used to get 'sent' to the pub out of her way. In another, the wife works several days a week (at 67 or so) as she can't bear being in the house with hubby all day. She loves the guy, as anyone who criticises him to her finds out, but she only has so much patience for him.

You have to know yourself and know your wife/husband/partner/main person and take all of it into account. The next most important thing is to work out how much money you need. I found I saved a fortune just by not going to work. No new suits just for starters. But if, for example, you can't live without a sports car, or a yacht, or whatever luxury toy you need, you have to weigh that in the balance.

In fact, there's a whole load of stuff you have to think about. Are the people you work with cnuts, or reasonable humans? Does your work stress you? If so, chances are it's taking years off your life. What will you do all day? Will you be happy doing that? So on and so forth.

Only an individual can answer these questions for himself/herself/other pronoun self.

 

[flook]

Having seen my dad physically and mentally age after retiring last year at the age of 71, I can honestly say I will work until I drop.

Worked since he was 15 like my mum and the pair have little motivation and purpose anymore.

Tried the whole volunteering/part-time job thing and they sit and watch The Chase and bicker over the slightest thing.

Live in a flat now which is their own and have been married almost 50 years.

Retirement don't look too great from where I view it.

As long as my dad has money for a pint and the match and my mum can get him out from under her feet, they don't seem to care.

Having grafted all their lives and never been in a position to salt away huge amounts of money, it's entirely their prerogative how they live, but I worry about them very much and I have decided to work for as long as I possibly can.

I have a mate who has a similar view to your own, he asks me what I'm going to do all day when I retire, my answer is simply whatever the fuck I want.

Whilst you (and he) are free to live your lives as you wish, I really cannot understand how anyone is so invested in work that they have no time for outside interests, but I wish you well in your life plan, if there were more like you the bastards ruining (sic) the country might stop trying to force the rest of us back under the yoke

 

[paulchapo]

When you think how our lives are structured and I'd also say how we're conditioned from the age of five, it's no surprise many can't cope when that structure ends. Many years of being forced to go to school for six to eight hours a day, then similarly straight into work for another fifty years. Take that away and a lot of people are lost.

If you are financially stable and happy in your own company then finishing work should be a doddle. You have the freedom to do whatever you want. Laze around, go on holiday, exercise, read, write, surf the net, go to the pub, pursue a holiday, do voluntary work, anything really.

I'd imagine there is plenty of work out there for those who want to carry on, if not paid then voluntary. Horses for courses.

 

[Gundoggin]

It is horses for courses. Some people actually find work enjoyable and fulfilling and have no real interests to occupy them away from it.

Others (like me) could happily retire at 25. Or even 18. I have not been bored for a single second since leaving work and as my wife is also my best friend on God's earth we are very happy together. Not every couple is like that. I know a fair few who basically detest one another. In one case, the bloke used to get 'sent' to the pub out of her way. In another, the wife works several days a week (at 67 or so) as she can't bear being in the house with hubby all day. She loves the guy, as anyone who criticises him to her finds out, but she only has so much patience for him.

You have to know yourself and know your wife/husband/partner/main person and take all of it into account. The next most important thing is to work out how much money you need. I found I saved a fortune just by not going to work. No new suits just for starters. But if, for example, you can't live without a sports car, or a yacht, or whatever luxury toy you need, you have to weigh that in the balance.

In fact, there's a whole load of stuff you have to think about. Are the people you work with cnuts, or reasonable humans? Does your work stress you? If so, chances are it's taking years off your life. What will you do all day? Will you be happy doing that? So on and so forth.

Only an individual can answer these questions for himself/herself/other pronoun self.

Nice post !
Can I add that you also see life from a different perspective once you have retired. It certainly opens your eyes !

 

[tolmie's hairdoo]

I have a mate who has a similar view to your own, he asks me what I'm going to do all day when I retire, my answer is simply whatever the fuck I want.

Whilst you (and he) are free to live your lives as you wish, I really cannot understand how anyone is so invested in work that they have no time for outside interests, but I wish you well in your life plan, if there were more like you the bastards ruining (sic) the country might stop trying to force the rest of us back under the yoke

Not interested in work in the slightest, and been free to do what the fuck I want for past 30 years, working for myself.

It's not all cracked up to be how it sounds. Hard having too much time on your hands.

I will work because I will need to and because state pension will probably be 70 by the time I get there.

That's my folks, however. Different generation. I work to live not live to work.

 

[Bluemanc100]

Having seen my dad physically and mentally age after retiring last year at the age of 71, I can honestly say I will work until I drop.

Worked since he was 15 like my mum and the pair have little motivation and purpose anymore.

Tried the whole volunteering/part-time job thing and they sit and watch The Chase and bicker over the slightest thing.

Live in a flat now which is their own and have been married almost 50 years.

Retirement don't look too great from where I view it.

As long as my dad has money for a pint and the match and my mum can get him out from under her feet, they don't seem to care.

Having grafted all their lives and never been in a position to salt away huge amounts of money, it's entirely their prerogative how they live, but I worry about them very much and I have decided to work for as long as I possibly can.

If stopped at 56 just as lockdown kicked in. SWMBO thought that I’d go stir crazy but I decided I was going to ramp up my cycling and also join the golf club that my two brother in laws were in.. Played golf two or three times a week but got worse (no idea why) so when Sue’s condition turned aggressive before Christmas just gone I knocked the golf on the head for a while

The cycling was a life saver, I do around 4000 miles a year and it’s been fantastic for my mental health and I’ve also lost about 3-4 stone as I’m more active (flew a laptop for work in the later years).

I have done a little consultancy in the last 12 months and I was asked this morning to do a little more for another motor manufacturer trying to grow their footprint in Europe.. Not sure if I can be bothered to be honest this time

The main point I wanted to make is that you have to have something that replaces the routine of working.. I have so the last three years have flown by and I’ve enjoyed retirement immensely

 

[heslops barnet]

Having seen my dad physically and mentally age after retiring last year at the age of 71, I can honestly say I will work until I drop.

Worked since he was 15 like my mum and the pair have little motivation and purpose anymore.

Tried the whole volunteering/part-time job thing and they sit and watch The Chase and bicker over the slightest thing.

Live in a flat now which is their own and have been married almost 50 years.

Retirement don't look too great from where I view it.

As long as my dad has money for a pint and the match and my mum can get him out from under her feet, they don't seem to care.

Having grafted all their lives and never been in a position to salt away huge amounts of money, it's entirely their prerogative how they live, but I worry about them very much and I have decided to work for as long as I possibly can.

I retired at 62, did a couple of years travelling and decided it’s not all that, returned to work at 64 and now work 3 days a week (Tuesday to Thursday) in a no stress job, still go away for holidays when I want, keeps me fit and active and enjoy my 4 days off.
Off to Iceland next week and looking forward to it…..
Bottom line you should keep active if you can……..need a reason to get out from under the duvet in the morning……I’m now 69

 

[Millwallawayveteran1988]

Having seen my dad physically and mentally age after retiring last year at the age of 71, I can honestly say I will work until I drop.

Worked since he was 15 like my mum and the pair have little motivation and purpose anymore.

Tried the whole volunteering/part-time job thing and they sit and watch The Chase and bicker over the slightest thing.

Live in a flat now which is their own and have been married almost 50 years.

Retirement don't look too great from where I view it.

As long as my dad has money for a pint and the match and my mum can get him out from under her feet, they don't seem to care.

Having grafted all their lives and never been in a position to salt away huge amounts of money, it's entirely their prerogative how they live, but I worry about them very much and I have decided to work for as long as I possibly can.

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.