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    • Marine_life
    • By Marine_life 5th Nov 10, 10:46 AM
    • 825Posts
    • 1,485Thanks
    Marine_life
    Early-retirement wannabe
    • #1
    • 5th Nov 10, 10:46 AM
    Early-retirement wannabe 5th Nov 10 at 10:46 AM
    I would like to create a topic (don't see it at the moment - other than the NUMBER thread).

    Who is aiming for early retirement (or who has retired early already)?
    When did you begin planning and what drove the decision?
    What is the strategy for getting there?
    How much of a relative decline in income are you prepared to take / did you take?
    What are your main concerns?
    For those already in early retirement - how is it progressing? What have been the good and bad surprises (financial and otherwise)?

    I will post my strategy but wanted to get some thoughts
Page 192
    • atush
    • By atush 5th Feb 18, 2:52 PM
    • 16,546 Posts
    • 10,279 Thanks
    atush
    Yeah, but we also did it all at Christmas!

    I haven't done much fish yet mainly because I'm pretty wicked at pan frying fish. What do you do with it? Salmon?

    I now have a proper wand but started with a deep fat fryer and a home made (3D printed) external thermostat.
    Originally posted by gadgetmind

    My son does Salmon all the time ( I dont like pink fish- although i like tuna). We did Cod the other night. Had a really nice texture. I have done pork shoulder for pulled pork, a prime rib of beef, steak, and some asian chicken thighs. going to try checken breasts soon. Bit of a faff, so dot use it much in the week.
    • tyronealan
    • By tyronealan 5th Feb 18, 4:53 PM
    • 68 Posts
    • 21 Thanks
    tyronealan
    Best reasons to retire early (if late 50s):
    - Health. You need to stay fit and healthy if you want to enjoy a fruitful later life. This takes time and effort, and a busy work life doesn't allow it.
    - Lack of stress. Stress is bad for you and it only gets worse as you get older (see above point).
    - Enjoy 10 to 20 years of active life doing different things than you have done for the last 34 years (in your case). Once you get to 80 plus you will have to slow down a bit....
    - Spend quality time with your partner/family/friends /pets or even just yourself.
    - Read all those books you never had time to read.
    - Visit all those museums you never had time to visit.
    - Visit all those places in the world/the UK you never had time to visit.
    - Do all those hobbies you never had enough time for.

    Reasons not to retire:
    - You define your life and your sense of self-worth by your work.
    - Money (lack thereof).

    Hope that helps!
    Originally posted by OldMusicGuy
    great list and a lot of my own thoughts, money may be tight for a while but subbing could help out. The Sunday night thoughts would make me give up tomorrow. I'll keep looking at all your posts but feel its time to move on!! Thanks again. will keep you all posted.
    • doingitanyway
    • By doingitanyway 5th Feb 18, 6:21 PM
    • 2,535 Posts
    • 12,089 Thanks
    doingitanyway
    TBH dropping to a four day week made a huge difference to me so consider part time rather than a dead stop.
    Originally posted by gadgetmind
    I second this. Now I am MF and very soon to be DF I am dropping to either 3 days tor 4 days a week ( if I get a job I am going for with a much higher salary)
    I am too young to stop working but I want to do have all of the things on OldMusicGuy's brilliant list whilst I am in good health.
    I think working p/t in a job I love has no downside
    I also completely agree on the time and work it takes to get fit and healthy enough to enjoy later life

    Oh and my working week will start on Tuesday
    JANUARY 2016/SECURED DEBT=24,822/February 2018=795
    MORTGAGE FREE 25/07/16
    • AnotherJoe
    • By AnotherJoe 5th Feb 18, 7:07 PM
    • 8,248 Posts
    • 8,977 Thanks
    AnotherJoe
    MF ? DF? Wazzat ?
    • tiddles
    • By tiddles 5th Feb 18, 7:10 PM
    • 143 Posts
    • 628 Thanks
    tiddles
    Mortgage free and debt free, I think
    • kidmugsy
    • By kidmugsy 5th Feb 18, 7:35 PM
    • 10,198 Posts
    • 6,923 Thanks
    kidmugsy
    Best reasons to retire early? I am 56 a teacher of 34 years and chance of redundancy and early retirement has come up.
    Originally posted by tyronealan
    (i) If you then work part time for just a year you should be able to get your total years of National Insurance Contributions up to the desired 35.

    (ii) At last, the chance to take hols outside school holidays. Greater pleasure and much lower costs. In my case I'd be keen on at least a three week "winter sunshine break" in January. By the time you get back in February the days are at least discernibly lengthening again.

    (iii) In general, master of your own time. No need to commute (presumably), and able to use the roads or public transport outside rush hours.

    (iv) Opens the possibility, if you fancy it, of living abroad.
    Free the dunston one next time too.
    • kidmugsy
    • By kidmugsy 5th Feb 18, 7:42 PM
    • 10,198 Posts
    • 6,923 Thanks
    kidmugsy
    Mortgage free and debt free, I think
    Originally posted by tiddles
    It's surprising that this site's censorship software (American, I guess) didn't prohibit MF.
    Free the dunston one next time too.
    • AnotherJoe
    • By AnotherJoe 6th Feb 18, 8:23 AM
    • 8,248 Posts
    • 8,977 Thanks
    AnotherJoe
    (i) If you then work part time for just a year you should be able to get your total years of National Insurance Contributions up to the desired 35.

    (ii) At last, the chance to take hols outside school holidays. Greater pleasure and much lower costs. In my case I'd be keen on at least a three week "winter sunshine break" in January. By the time you get back in February the days are at least discernibly lengthening again.

    (iii) In general, master of your own time. No need to commute (presumably), and able to use the roads or public transport outside rush hours.

    (iv) Opens the possibility, if you fancy it, of living abroad.
    Originally posted by kidmugsy
    (V) the chance might not come again.
    • caldejud
    • By caldejud 6th Feb 18, 2:16 PM
    • 15 Posts
    • 7 Thanks
    caldejud
    As has been suggested above you should really use a cash floe modelling tool so you can play about with your ''what if'' scenarios, particularly as you are considering retiring sooooo early!. We are really happy with the Retireeasy LifePlan cash flow tool and I think quite a few on this forum use it too.

    Great to think about retiring so early but make sure you have plenty of projects to keep your mind active - just as important as the finances!
    • Marine_life
    • By Marine_life 13th Feb 18, 9:18 PM
    • 825 Posts
    • 1,485 Thanks
    Marine_life
    Long time no post....time for an update

    and a fairly major one.

    Decided to go back to work.

    What can I say other than "its a funny old world".

    I enjoyed a couple of months on the side lines but a couple of things made me decide it just wasn't for me.

    1. Having told my employer I was retiring they took away all my previous (stressful) roles and I'm now able to negotiate the job I've always wanted.
    2. I found I really missed the responsibility and challenge - I've read all those trite saying like "nobody ever died wishing they'd spent more time in the office" but I'm fine with that.
    3. At 53 its hard to think about NEVER working again. Maybe I will only work another 2 years - maybe 5 - who knows. The key to financial independence is the freedom to choose.
    4. I certainly haven't allowed a long time to adapt to retirement but in all honesty ... I was a bit bored. I have hobbies and interests but really ....I felt the days just leaked away without 'closure' if that makes any sense at all?
    5. I don't want to be careful with money. Nobody could argue our retirement budget is anything other than generous but I want to take the topic of money completely off the table.

    I haven't locked in the new job yet but I've been playing the part for the last 6 weeks. Some box ticking and then I am back.

    Thoughts?
    Something witty goes here
    • Penna
    • By Penna 13th Feb 18, 9:49 PM
    • 4 Posts
    • 3 Thanks
    Penna

    Thoughts?
    Originally posted by Marine_life

    I did wonder..

    I genuinely feel sorry for you.
    • coyrls
    • By coyrls 13th Feb 18, 9:53 PM
    • 944 Posts
    • 1,000 Thanks
    coyrls
    Thoughts?
    Originally posted by Marine_life
    Change the thread title?
    • westv
    • By westv 13th Feb 18, 9:56 PM
    • 4,445 Posts
    • 2,069 Thanks
    westv
    As long as you do what you really want to do rather than what you think you should do then it doesn't really matter if that includes paid employment.
    • mgdavid
    • By mgdavid 14th Feb 18, 12:46 AM
    • 5,378 Posts
    • 4,636 Thanks
    mgdavid
    I'm not surprised, you're clearly a bit of a different animal from the majority - and thank goodness for that as someone needs to keep the wheels of commerce turning and earn the money and pay the taxes that pay our pensions!!
    A salary slave no more.....
    • kidmugsy
    • By kidmugsy 14th Feb 18, 1:04 AM
    • 10,198 Posts
    • 6,923 Thanks
    kidmugsy
    Is my memory playing tricks or did I say earlier that I suspected this whole huge thread of being based on an elaborate leg-pull?
    Free the dunston one next time too.
    • k6chris
    • By k6chris 14th Feb 18, 7:09 AM
    • 206 Posts
    • 353 Thanks
    k6chris
    I will have to take your poster off my wall now I think that now you are FI you will have a different relationship with work and if your employer knows you could walk away they will have a different relationship with you. Good luck, but let's keep the thread going.......other plans may vary!
    EatingSoup
    • gfplux
    • By gfplux 14th Feb 18, 7:38 AM
    • 3,856 Posts
    • 3,427 Thanks
    gfplux
    Long time no post....time for an update

    and a fairly major one.

    Decided to go back to work.

    What can I say other than "its a funny old world".

    I enjoyed a couple of months on the side lines but a couple of things made me decide it just wasn't for me.

    1. Having told my employer I was retiring they took away all my previous (stressful) roles and I'm now able to negotiate the job I've always wanted.
    2. I found I really missed the responsibility and challenge - I've read all those trite saying like "nobody ever died wishing they'd spent more time in the office" but I'm fine with that.
    3. At 53 its hard to think about NEVER working again. Maybe I will only work another 2 years - maybe 5 - who knows. The key to financial independence is the freedom to choose.
    4. I certainly haven't allowed a long time to adapt to retirement but in all honesty ... I was a bit bored. I have hobbies and interests but really ....I felt the days just leaked away without 'closure' if that makes any sense at all?
    5. I don't want to be careful with money. Nobody could argue our retirement budget is anything other than generous but I want to take the topic of money completely off the table.

    I haven't locked in the new job yet but I've been playing the part for the last 6 weeks. Some box ticking and then I am back.

    Thoughts?
    Originally posted by Marine_life
    Ha, ha, ha, ha, ha, ha, ha, ha.
    Britains decision to engage in the complex and difficult process of leaving the EU will make Britain poor (again).
    "Brexit Blight of Uncertainty" sums it all up. Although "Brexit Crisis", "The Curse of Brexit" or "Brexit Disaster" come close.
    • chucknorris
    • By chucknorris 14th Feb 18, 7:59 AM
    • 9,476 Posts
    • 14,221 Thanks
    chucknorris
    I certainly haven't allowed a long time to adapt to retirement but in all honesty ... I was a bit bored. I have hobbies and interests but really ....I felt the days just leaked away without 'closure' if that makes any sense at all?
    Originally posted by Marine_life
    It is over 7 years since you started this thread, and it sounds to me like you have spent that time preparing financially for retirement, but not otherwise. I handed in my notice to retire 18 months ago, but they asked me to stay and work one day a week, which I enjoy doing. But every now and then it does get in the way of my real life, I gave up playing chess last year because there wasn't really enough time to do it (I was captain of two chess teams), there is still so much to do (as well as the usual stuff with family and friends):

    Hiking
    Running (although I am injured at the moment)
    Cycling
    Weight training
    Gym classes
    Outdoor bowls
    Indoor bowls (I am struggling to fit this in)
    Swimming (I have had to sideline this, not really enough time)
    Short breaks away as well as at least one long annual holiday (which will become 3 months in Spain during the winter when I do eventually) retire).
    Chuck Norris can kill two stones with one bird
    The only time Chuck Norris was wrong was when he thought he had made a mistake
    Chuck Norris puts the "laughter" in "manslaughter".
    After running injuries I now mostly hike, gym classes and weight training (also a bit of cycling and swimming), less impact on my joints.
    • bugslet
    • By bugslet 14th Feb 18, 9:00 AM
    • 5,977 Posts
    • 28,978 Thanks
    bugslet
    Long time no post....time for an update

    and a fairly major one.

    Decided to go back to work.

    What can I say other than "its a funny old world".

    I enjoyed a couple of months on the side lines but a couple of things made me decide it just wasn't for me.

    1. Having told my employer I was retiring they took away all my previous (stressful) roles and I'm now able to negotiate the job I've always wanted.
    2. I found I really missed the responsibility and challenge - I've read all those trite saying like "nobody ever died wishing they'd spent more time in the office" but I'm fine with that.
    3. At 53 its hard to think about NEVER working again. Maybe I will only work another 2 years - maybe 5 - who knows. The key to financial independence is the freedom to choose.
    4. I certainly haven't allowed a long time to adapt to retirement but in all honesty ... I was a bit bored. I have hobbies and interests but really ....I felt the days just leaked away without 'closure' if that makes any sense at all?
    5. I don't want to be careful with money. Nobody could argue our retirement budget is anything other than generous but I want to take the topic of money completely off the table.

    I haven't locked in the new job yet but I've been playing the part for the last 6 weeks. Some box ticking and then I am back.

    Thoughts?
    Originally posted by Marine_life
    Well you certainly aren't the only one, doubt you'll be the last. Jim from SHMD did the same

    https://sexhealthmoneydeath.com/about/

    Until you try something, how will you know if it's for you?

    I'm 99% sure that once the year end is over (March), I will look to work four days a week - Friday I am gone by 14.00 anyway. And see how it goes from there. I'm unsure that I want to retire yet.
    • jungle jane
    • By jungle jane 14th Feb 18, 9:05 AM
    • 587 Posts
    • 1,747 Thanks
    jungle jane

    Thoughts?
    Originally posted by Marine_life
    Do what makes you happy. If you find that's not the right decision then change it something else that feels right
    MORTGAGE FREE 02/01/2018 ll DEBT FREE 02/01/2018 ll EARLY RETIREMENT LOOMING
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