Early-retirement wannabe

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  • DancingBadger
    DancingBadger Posts: 215 Forumite
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    Marine_life wrote: »
    I kinda like the lime green :) so I will live with it for a while.

    Okaaaay...

    ...but the sentence under 'Rent our apartment' seems have suffered an espisode of fat fingers. ;)
  • Marine_life
    Marine_life Posts: 1,059 Forumite
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    Once we're up and running there will be one post per week but for now ...here's a new one for you:

    http://earlyretirefree.com/why-austria/
    Money won't buy you happiness....but I have never been in a situation where more money made things worse!
  • westv
    westv Posts: 6,086 Forumite
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    Just found out today that the company I work for will be taken over so, depending on how things pan out, I might be taking early retirement a little earlier than I might have.
    Will get a nice sum from the company share save scheme too.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
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    Well done Marine_life. I thought it would never happen!

    I can't see me going on beyond March next year, when I'll hit 55. I'm even toying with talking to a financial planner to sanity check my plans and figures.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • ex-pat_scot
    ex-pat_scot Posts: 693 Forumite
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    sigh.


    82 months ish.


    I do enjoy the vicarious pleasure of the world opening up for you. All those possibilities!


    For me, I am firmly still in the "head down, drive on" mode. Control what I can: contributions, costs, investment strategy.
    There is a (very) complicated spreadsheet that pretends to make sense of it all, but I am wise enough to know that it will be wrong. At least it gives me a broad heading and a sense of planning.
  • jennyjj
    jennyjj Posts: 346 Forumite
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    Well Done ML.

    I'm nearly 8 months free, and I'm aggressively recommending early retirement to all my friends of similar vintage: Seeing too many struck down and not getting the choice.

    Fact is, most of my peers just don't realise how well off they are or how rich they will be when they die. Daft idea to die rich!!!

    This is not a rehearsal.

    If anyone tells you that you are too young to retire and that you will be bored to tears or lonely at home, I say . . .
    'There's a few things to be done at work and maybe a hundred acquaintances there, but outside of work there are endless fun things to do and 6 billion friends you haven't met yet.'

    Also, keeping a log of personal wealth. It hasn't dropped since quitting work and is certainly not evaporating.

    Will look in on your blog.

    JFDI folks!
  • Marine_life
    Marine_life Posts: 1,059 Forumite
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    ex-pat_scot wrote: »
    There is a (very) complicated spreadsheet that pretends to make sense of it all, but I am wise enough to know that it will be wrong. At least it gives me a broad heading and a sense of planning.

    I too have a spreadsheet and I will confess that I love yield and I tend to invest in things (shares, bonds etc) that deliver yield. In the absence of any divident cuts the yield feels very real and I love seeing those nice dividend cheques (or rather direct debits) arriving in my account every month. The uncertain part is the capital growth BUT if I'm happy with the yield then I can just leave the investments alone and (try and ) not worry about them - difficult but works for me.

    In my book the essence of knowing when your finances support early retirement is entirely dependent on your view of investment returns and inflation. I had the luxury of being able to set my invest returns exactly equal to inflation (i.e. very conservative) and did not pull the plug until that showed me I would never run out of money. Some will say that means I retired 3-4 years later than I could have but at least I can sleep at night!
    Money won't buy you happiness....but I have never been in a situation where more money made things worse!
  • Marine_life
    Marine_life Posts: 1,059 Forumite
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    jennyjj wrote: »
    If anyone tells you that you ....... will be bored to tears, I say . . .


    ......a day 'bored' at home is better than my best ever day in the office :)
    Money won't buy you happiness....but I have never been in a situation where more money made things worse!
  • nearlyrich
    nearlyrich Posts: 13,698 Forumite
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    Marine_life wrote: »
    I am no longer the wannabe.

    I am done (or rather we are done).

    Friday was my last day of full time work and after 31 years of work I am now hoping for at least 31 years of retirement.

    I'm not sure how I feel yet.

    But after almost seven years (since starting this thread) its time to put the plan into action.



    Welcome to my world I have just done a year it's gone so fast I haven't missed work, even the money, at all. In fact I saved some money for the first year thinking I could delay claiming my pension, I still have around a third of it left and my pension has grown really well this year.


    We have done some travelling, looked after the grandson, I have started sewing again, I do some voluntary work that interests me. All good stuff.
    Enjoy !!
    Free impartial debt advice from: National Debtline or Stepchange[/CENTER]
  • Triumph13
    Triumph13 Posts: 1,730 Forumite
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    Marine_life wrote: »
    In my book the essence of knowing when your finances support early retirement is entirely dependent on your view of investment returns and inflation. I had the luxury of being able to set my invest returns exactly equal to inflation (i.e. very conservative) and did not pull the plug until that showed me I would never run out of money. Some will say that means I retired 3-4 years later than I could have but at least I can sleep at night!
    I know what you mean about sleeping at night and that's the reason why my own plan still has two more OMYs built into it. I look at the mechanics the other way round though and go for a more realistic investment return plus a nice fat contingency fund to act as the soporific. The fact that we will eventually have enough in DBs and SP to cover our core spend probably makes this easier as it's only the ten years until the first of the DBs kicks in when I really expect to be fretting.
    I am feeling definitely FI now, which means every single post tax penny we earn (including employer pension contributions) is adding straight to the contingency fund.
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