Early-retirement wannabe

1149150152154155607

Comments

  • BucksLady
    BucksLady Posts: 567 Forumite
    kidmugsy wrote: »
    We give unused stuff to a deserving local charity. For us this is a big deal because we've become so cynical about almost all big, national charities that we've cancelled our standing orders, and expect to shun them all in future (except perhaps the RNLI and the Salvation Army). With a local charity you can see directly, and indirectly by local gossip, whether it is pursuing its proper purpose. Or at least you can if you have the time, which Persons of Independent Means ought to have, eh?

    I'm afraid I've become really cynical about Charity Shops because of my mother's experience of volunteering in one of them. At this particular establishment the volunteers took everything they fancied, and not for the price the items would have been sold for. Sadly, I don't this is a one-off either.:(
  • Marine_life
    Marine_life Posts: 1,059
    Hung up my suit!
    Forumite
    I am not sure whether I posted this before - but anyway I thought I would share again. It seems that australia is the only country which actually attempts to estimate how much people will need in retirement based on whether they are single or a couple and want a basic or comfortable retirement.

    See what you think:

    http://www.superannuation.asn.au/resources/retirement-standard

    I reckon its pretty accurate.
    Money won't buy you happiness....but I have never been in a situation where more money made things worse!
  • kidmugsy
    kidmugsy Posts: 12,709
    First Anniversary Name Dropper First Post Combo Breaker
    Forumite
    It seems that australia is the only country .....

    When we lived in NZ we were told that the old age pension was so big that many people got a "pay rise" on retiring. Mind you, NZ pay must be towards the bottom of a league table of First World pay.
    Free the dunston one next time too.
  • kangoora wrote: »
    I have to applaud some of these recent posts, it's where I am at the moment. I used to really enjoy my job, didn't mind putting in 50-70 hour weeks when the job needed it (without overtime), even occasionally for some fairly extended periods.

    Now, performance management is total BS, your manager recommends you a grade, everybodies grades go to some senior team where they all get levelled. I get on well with my director and I know he has to fit a profile of "requires development", works ok and "is excellent" in his team. I have NEVER heard of anyone being levelled UP, so levelling should be termed the "downgrading process"

    Getting corporate BS emails every quarter saying we are doing well but everyone needs to do better starts to get demoralising. Entire teams getting outsourced to India, there's some good people over there but there's also a huge amount of jobsworth working off a script who speak barely legible English. Everything I request needs to be chased or it doesn't get done because everybody is feeling overloaded and I'm tired of fighting my way through corporate treacle to get even the simplest things done.

    The annoying thing, I work for a very profitable multinational and whilst I get my 10% (6% after tax) bonus plus some other things like Private Health; there's people pulling 25% (or more) bonus + stock options + other perks. Obviously there's people worse off than me not on a bonuses salary with no perks at all.

    Sounds very like a large nationalised bank to me they run a similar performance management scheme and despite denying it they use a bell curve as an official document was leaked detailing how it ratings should be normalised to fit the curve. They also use it to manage staff out of the organisation as they frequently use performance management procedures to give warnings leading to dismissal.



    I've seen several very good colleagues destroyed by the process as they are not good at playing the game and others who are not so good thrive as they can play the game.
  • RobStaffs
    RobStaffs Posts: 308
    First Anniversary Combo Breaker First Post
    Forumite
    edited 14 October 2014 at 6:40AM
    I have read through this thread and also "The Number Thread". I find it really interesting. I am 50 and job security at the moment is not the best. However my children are now independent and have good careers in progress. We have no mortgage and would say we spend no more than 50% of our income. The rest has been either saved or invested in pensions and funds over the last 20 years. One of the interesting aspects of these threads is who determines luxuries and incremental enjoyment from spending? We are led to believe a nice car, four holidays a year and other material possessions make for a good retirement. I don't get this. I understand the benefit of basic financial security and these threads are a really valuable source of information.
  • mgdavid
    mgdavid Posts: 6,705
    First Anniversary Name Dropper First Post
    Forumite
    RobStaffs wrote: »
    .......... we spend no more than 50% of our income. The rest has been either saved or invested in pensions and funds over the last 20 years. One of the interesting aspects of these threads is who determines luxuries and incremental enjoyment from spending? We are led to believe a nice car, four holidays a year and other material possessions make for a good retirement. I don't get this. I understand the benefit of basic financial security and these threads are a really valuable source of information.

    What's your definition of 'basic financial security'? It sounds as if you are very frugal therefore won't need much to live on, something well under 20k seems to cover the basics. So if one is well-prepared financially for retirement, what are you going to spend the rest on? Some people like a new car every 3 years, others the frequent holidays, yet others drip-feed it on to the next generation, or indulge their hobbies, pastimes and passions. We are all different - but at least having excess income in retirement gives choice.
    The questions that get the best answers are the questions that give most detail....
  • kidmugsy
    kidmugsy Posts: 12,709
    First Anniversary Name Dropper First Post Combo Breaker
    Forumite
    RobStaffs wrote: »
    We are led to believe a nice car, four holidays a year and other material possessions make for a good retirement.

    If the holidays had to be on a beach, I'd go mad.

    As for the nice car and material possessions: often people buy what they can't afford, with money they don't have, to impress people they don't like.
    Free the dunston one next time too.
  • greenglide
    greenglide Posts: 3,301
    First Anniversary Combo Breaker Hung up my suit!
    Forumite
    kidmugsy wrote: »
    If the holidays had to be on a beach, I'd go mad.

    As for the nice car and material possessions: often people buy what they can't afford, with money they don't have, to impress people they don't like.
    A walk on the beach at Northumberland's beaches is surprisingly affordable (living in Northumberland!) and only a part of a day!

    A nice car and material possessions are wonderful things to be able to afford. If you can afford them you don't have to buy them. It is the not able to afford things even if I wouldnt buy them anyway that I would find upsetting.
  • atush
    atush Posts: 18,719
    Name Dropper First Anniversary First Post
    Forumite
    edited 14 October 2014 at 10:53AM
    I love the beach, but I never ever spend all day on one.

    A morning or a sunset walk, a few hours here or there. Lunch in a toes in the sand place. A beach to me can be essential.

    I can live w/o the nice car (or buy one and use it for more than a decade) and I have enough material possessions. I wont live w/o good food and holidays.

    I see greenglide and I have the same idea lol
  • My grandmother wasn't impressed by money lol. I remember her taking me aside and telling me to remember that 'a good reputation is far more valuable than money' :).
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards