Retiring

Kompany Car said:
If you are 43, loads of money unless you are planning to end it all by the time you are 63.
Now I may be talking bollocks and there are many more financially astute people on here than me, but if you had 1 million pounds, that’s £50k a year and in twenty years time the spending power will be like having only £25k which is nothing really.
To outstrip inflation you would need to invest in medium risk investments which fair enough you may win on but you could also loose, leaving you in your 60s with nothing.
It seems like a good idea but unless you are loaded, or have some serious assets you can liquidate if you need to it’s very risky and you will need to live like a monk.
Have you thought about just reducing your hours ? That way you can get a better work life balance but without the risk.
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How dare you speak to bill gates like that:)
 
Kompany Car said:
If you are 43, loads of money unless you are planning to end it all by the time you are 63.
Now I may be talking bollocks and there are many more financially astute people on here than me, but if you had 1 million pounds, that’s £50k a year and in twenty years time the spending power will be like having only £25k which is nothing really.
To outstrip inflation you would need to invest in medium risk investments which fair enough you may win on but you could also loose, leaving you in your 60s with nothing.
It seems like a good idea but unless you are loaded, or have some serious assets you can liquidate if you need to it’s very risky and you will need to live like a monk.
Have you thought about just reducing your hours ? That way you can get a better work life balance but without the risk.
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ETFs or multiasset portfolios aren’t risky on those timescales to be fair.
 
Kompany Car said:
God I hate acronyms, ETFs ??? Are they a bit like Unit trusts ?
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Exchange traded funds.

Basically buying an index like the S&P500 or FTSE100 etc. Usually charge about 0.2% pa and historically you’re looking at 7-12% pa net growth per year over a 20 year time horizon (although some years they will drop by up to 40% as it’s an index).

Multiasset portfolios are less risking as they’d generally only have a 50% (ish) equity holding so would help insulate you from the worst of the markets (and vice versa).
 
SWP's back said:
Work out what you need to live on, then times it by 20 and that’s approximately what you need to have in place.
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Assuming a 5% payout is considered a little more aggressive over here, with 4% considered more realistic, with 3% considered even more conservative, if capital preservation is a major goal. Additionally, the cost of retirement is often more expensive in the first few years, as you start to do all those things you said you were going to do when you retired!

However, we also have some significant expenses that most in England don’t have, such as health care and property tax. Prudential suggests that a retired couple should have about $250,000 just for health care expenses!
 
Google “Three Fund Portfolio” and adjust the percentages, per your own personal risk profile. However, if that all sounds like gobbledygook, then seek out a FEE-BASED Advisor who agrees to operate as your fiduciary.
 
blue moon rising said:
I’m still fucking working.
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Your only 45
You'll get bored if you retire now, unless you have about 5 or 6 million quid.
Or, you just want to fish every day.
I'm retired, I can't do and cruises which is what I've been doing since retirement, so I wouldn't mind a pt job.
 
blue moon rising said:
I’m still fucking working.
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Seems to me like you've been working hard in a locked uranium mine in Outer Mongolia seeing as you've posted only 3 times in 13 years. And what are you doing nicking my username you cheeky ****. I've been trading under BMR since 2006. About time I had some royalties. Noel Gallagher can be first for naming a song after me. It's a good song as it happens : )
 
BlueMoonRisin' said:
Seems to me like you've been working hard in a locked uranium mine in Outer Mongolia seeing as you've posted only 3 times in 13 years. And what are you doing nicking my username you cheeky ****. I've been trading under BMR since 2006. About time I had some royalties. Noel Gallagher can be first for naming a song after me. It's a good song as it happens : )
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He's an avid reader.
Not a writer.
 
Sheikh rattle and roll said:
I retired at 48 I have a pension however I got bored and have got another less stressful job
Becareful what you wish for
I have loads of interests but I felt I was waiting to die
Now with work which is flexible my free time and hobbies feels more special
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This is absolutely right. I retired in November last year and for my last few years in work scoffed at those pillocks who retired but said they'd get bored and had to work. Especially as I'd got nearly 40 years' pension.

A couple of months after I retired I was offered a consultancy and thought "why not, it's good money, a couple of months and I'm out". I'm still doing it, the difference being that a) I can leave if I want, b) I'm getting paid what I'm worth so I get a better quality of leisure/holidays, c) I can fit it in around my fishing two days a week. One thing lockdown taught me is that I couldn't ever do nothing.
 
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