Retiring

jacko74

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Joined
5 May 2009
Messages
1,732
If it costs you £600 to run your car, insurance, tax possibly fuel and maintenance costs, tyres oil service you don't use it much if at all so might be worth binning it off
I know what you're saying but I think I still need/use it enough to justify having it, the nearest supermarket is 8 miles away so what with shopping and pleasure driving I reckon I'll still do about 3000 miles a year.
I think my currently simple life would cross the line to become too restricted, boring and inconvenient if I didn't have a car to get out and about.
 

SWP's back

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Joined
29 Jun 2009
Messages
81,459
Unfortunate I am 68 Sam.

The golf isn`t great. I`m still playing but last year I was playing off 14 which was my 1st handicap I got in 1983.

I`m off 18.2 now, after 25 year off single figures and it pisses me off. I`ve struggled with illness since 2010 which has cause me breathing and joint problems meaning I can only play with the use of a buggy and in the dryer and warmer months.

As lots on here have come to realise old age and the shit that comes with it can be a bit of a ****.

Keep playing as long as you can and enjoy playing great couses in great weather.

Pete
Sorry to hear about the odd age related issue mate, that’s a pain in the arse but the bright side is you’re still playing and we don’t do it for the score. Nothing wrong with bogie golf! Enjoy retirement.
 

Manchester_lalala

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Joined
9 Jul 2008
Messages
18,621
Unfortunate I am 68 Sam.

The golf isn`t great. I`m still playing but last year I was playing off 14 which was my 1st handicap I got in 1983.

I`m off 18.2 now, after 25 year off single figures and it pisses me off. I`ve struggled with illness since 2010 which has cause me breathing and joint problems meaning I can only play with the use of a buggy and in the dryer and warmer months.

As lots on here have come to realise old age and the shit that comes with it can be a bit of a ****.

Keep playing as long as you can and enjoy playing great couses in great weather.

Pete

I won’t be 30 until next year, but I plan to do what you did by time I’m 35. Work a few day shifts during the week and maybe the odd weekend too if I need a bit of a cash boost. There’s more to life than getting up at 5am in the morning every day ready for another 12 hour shift. I want to be able go travelling for a few months of the year, that’s been my plan for a few years now.
 

Tommy_Catons_Perm

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Joined
22 Dec 2011
Messages
1,424
What does everyone have income and assest wise to take early retirement, people are right about work I seen that 3 years ago I used to work loads but don’t know

i really want to retire early had 3 weeks of furlong recently and it gave me a glimpse of what I want but I really don’t have a clue what I will need

I have a house I rent out which has 5 or 6 years left that worth around 130 and get 515 a month in rent so not sure if I should sell it or keep it , invest the monthly rent into a pension and then have the income still if I sell invest into funds and pension fund , have around 40 k in a pension and I think around 250 a month goes into this im 39, around 20 k in funds , I save around 100 a month into this and will increase it to 250 next year plus around 1500k though over time a year
Maximise pension contributions to take advantage of tax relief.

A simple rough estimate is that you need savings equal to 25x your annual expenditure to not run out of money. Assuming savings are sensibly invested giving a 4% annual return.

Monitor monthly spending for a couple of years from bank statements.
 
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Hutchymcfc

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Joined
14 Jun 2015
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472
Location
Cleckheaton
Maximise pension contributions to take advantage of tax relief.

A simple rough estimate is that you need savings equal to 25x your annual expenditure to not run out of money. Assuming savings are sensibly invested giving a 4% annual return.

Monitor monthly spending for a couple of years from bank statements.
So would that be bills including mortgage and nursery ? Or just the bills and general living

once the rental house is paid , I pay my tax though my wage for it I’m going to change it and put that money into my work pension
 

Tommy_Catons_Perm

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Joined
22 Dec 2011
Messages
1,424
So would that be bills including mortgage and nursery ? Or just the bills and general living

once the rental house is paid , I pay my tax though my wage for it I’m going to change it and put that money into my work pension
ALL costs. When the mortgage is paid off its no cost.

IF, the kids ever leave home. And it's a big IF as they love my free hotel, its another huge cost saving....
 

bobbyowenquiff

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Joined
15 Jan 2007
Messages
5,901
Location
Lancashire
I won’t be 30 until next year, but I plan to do what you did by time I’m 35. Work a few day shifts during the week and maybe the odd weekend too if I need a bit of a cash boost. There’s more to life than getting up at 5am in the morning every day ready for another 12 hour shift. I want to be able go travelling for a few months of the year, that’s been my plan for a few years now.
Good luck. I hope you can achieve it. I read an article by a palliative care nurse once about people's regrets on their death bed. One of the most popular regrets is always: "I wish I hadn't worked so hard." I was lucky to work in a job I loved for most of my life but I have never regretted stopping full-time work which I did aged 58. Life really is too short.
 

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