When is everyone planning on retiring

CloudNine

I have plans to retire at 55.

Although my other plan (to be World Heavyweight Boxing Champion) seems the more likely at the minute.

octatonic

fretmeister said:

1 kid wants to be an architect and the other wants to go to veterinary school.

So I'm never retiring.

Maybe they can compromise?
How about being an anarchist and a veteran?

ESBlonde

Subject to health anytime after 62 (4+ years), but would probably go part time or take on a project of some kind to stay active.

tone1

Yep, I'm almost there.. My Financial Advisor informs I have enough personal wealth and assets in my portfolio to last me for the rest of my life....On the strict understanding that I die a week on Tuesday

fretmeister

octatonic said:

fretmeister said:

1 kid wants to be an architect and the other wants to go to veterinary school.

So I'm never retiring.

Maybe they can compromise?
How about being an anarchist and a veteran?

I thought about transforming into a dog so I can get a posh kennel and free healthcare from them.

boogieman

I retired 4 years back. Was planning to carry on working till I was 62 but my job role was going to be changed for the worse and the redundancy deal on offer was too good to turn down. Took my work pension early so I can cope ok financially. 

It does take time to adjust. The first couple of months are like being on holiday, then the reality starts to set in. I don't miss the graft at all but I do miss my workmates and the banter. You have to work on the social side of life a fair bit to keep up the contact, people at work soon forget about you.

I think you need to keep your mind active too. A couple of the guys who left at the same time as me seem to spend all day sitting round in their pants watching reruns of Homes Under the Hammer. That would drive me mental.  I like to keep busy and get on with all the projects and hobbies I didn't have time for when I was working. My wife and I also do day trips to things like galleries and museums or just go to different places to walk the dog. 

axisus

I have no plan at all on retirement. I think I'll need to keep chugging away forever. 53 at the moment. 4 kids, youngest is only 11.

mudslide73

60 if I get that far. I've got a couple of pensions, a big downsize to lump in and only one kid. Hopefully I'll get to enjoy it.

Jalapeno

I'd retire tomorrow, sadly my accumulation of DC pensions mean a massive drop in income, wouldn't be penury but nevertheless.....

Ideally a new job, with far less corporate bollocks, and a tiny bit of creativity would change my desire to jack it all in - well that or a Euromillions win !

Roland

Two bits of advice I was given: 1. Most people don't need as much money as they think. 2. A lot of successful retirees say that they wish they had retired earlier. 

Next month I'll start taking a pension, although I haven't worked for a couple of years. As @boogieman says, it does take a time to adjust. The first year was spent catching up on household maintenance and other projects, one of which had been on my 'to do' list for 16 years. It it has been a bit like returning to the life I had as a teenager, before studies and then employment got in the way. Retirement really is the third age of man.

You do need activities to occupy your body and mind. Otherwise you can go down hill very quickly. It's easy to envisage physical decline, but you also need to avoid mental and social decline. With me it's been a string of projects (I don't cope well with repetitive/recurrent activities). The latest is converting a barn into a workshop, so expect a thread on that sometime.

My bass player retired 12 months ago as part of a management reshuffle. He was is HR, and convinced them that giving him early retirement would be cheaper than fighting an unfair dismissal claim. Since then he has done a string of consulting jobs, specialising in roles which need experience and ability, but which a suitable candidate with career aspirations would avoid.

Deadman

65, when my mortgage will be paid off, although that may come sooner when a couple of inheritances come our way. I've got a decent index linked pension so although I'm not and will never be a rich bloke, I can provide for my family so I'm happy.

TTony

fretmeister said:

the other wants to go to veterinary school.

Been there, done that @fretmeister.


I've always wanted to be in the position of being able to retire (financially, mainly), without necessarily retiring.  I'm probably there now, although moving house & taking a mortgage again, probably puts me back into having to work for a couple more years.

A good mate of mine in a similar line of work took early retirement with a decent company pension in his early 50s.  He then chose to do odd bits of work whenever they fancied a decent holiday, or a new car, or (etc).  The pension paid for a comfortable day-to-day life, work paid for the extras.  So it was a clear choice for him to work x months so that they could spend y months on some exotic holiday.  That seems like a sensible approach.

Sesh

When can I retire? In about 30 fucking years. If I'm lucky.

CabbageCat

My role at work is slowly evaporating so I'm sure I'll be let go within the next few years. I intend to semi-retire when that happens. I'm 40 at the moment. I'll probably do bits and bobs for pocket money but I've paid off my mortgage, have lots of savings and a low-cost lifestyle so I could kinda retire tomorrow if I really wanted to.

Axe_meister

When I first started paying into a pension at 23 (23 years ago), the plan was to retire at 55. Alas too much life got in the way and the way things are growing  my income will not be that great. I'll probably hang on until 68 (if I'm still employable at that age).
However my plan is to make a bit of living, turning old classics into modern cars.

EricTheWeary

DiscoStu said:

I feel like I already have. Been redundant month and a half, pottering about the house and drinking til the small hours.
Retirement sucks!

I had a fairly clear plan for 56 but redundancy buggered that up at 51. If MrsTheWeary keeps her part time job we wouldn't be destitute if I didn't work again in the meantime and can both claim minimal company pensions at 55. That would be a joint income about £20k, no mortgage by then so that's doable ( thick kids so no major uni costs.. ). However, looking to have temp or part time jobs for the next few years, pay for a house move and also need to bear in mind that MrsTheWeary will probably just give up work or retire on health grounds at her current rate.


 Hopefully retirement is more positive than being unemployed. I've found it hard to enjoy my job seeker status because there's so much uncertainty. After 23 years for the same employer it also feels quite like a bereavement with stages of denial, etc, I'm still half expecting to drive to the office every Monday morning. Don't know if retirees have that.

Kebabkid

In 12 years time and hopefully, to Cyprus where I can continue playing music and earn a few bob along the way.
Edit: when I'm 65

Blaendulais

At 52 been retired 2 years. Fucking marvellous. Gym Read Cinema Guitar +++++ Look after the 11 year old.  Happiest time in my life. If i was to die tomorrow the last 2 years are the happiest of my life

Snap

Not sure. Fortunately the decision is largely in my hands.I could do it now, but I'd be bored and would end up back in probably.

Iamnobody

When I'm forced to or when it makes sense financially.

I can't put a time on it - I'm 38 with a massive mortgage, two dependants - the youngest under 18 months.

I don't see it being before the age of 60, and depending on the state pension (or lack of it) I will probably be nearer 70.

My co. pension is one of the better ones but even that has had the terms changed loads of times within the last ten years and I only have 13 years of contributions at the moment.

In summary then I haven't got a fucking clue.