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    • irret
    • By irret 9th Jun 17, 5:59 PM
    • 36Posts
    • 2Thanks
    irret
    Should I retire early?
    • #1
    • 9th Jun 17, 5:59 PM
    Should I retire early? 9th Jun 17 at 5:59 PM
    Hi folks not been on here for a while. Last year we moved from Scotland to Cornwall where i had always worked. Since living down here i have not been able to find work and have some health issues that may require treatment. So as i am not receiving any benefits i have been thinking of retiring early, i realise that i will not receive my state pension until May 2020 but feel that due to these reasons i may as well retire and at least get my free bus pass! I am age 63
    Can anyone help me with this or has decided the same as me?
    Thanks
Page 1
    • bostonerimus
    • By bostonerimus 9th Jun 17, 6:04 PM
    • 877 Posts
    • 443 Thanks
    bostonerimus
    • #2
    • 9th Jun 17, 6:04 PM
    • #2
    • 9th Jun 17, 6:04 PM
    If you can afford it and you are psychologically ready to fill your time then IO say do it. I retired early 4 years ago and I'm glad I did it.
    Misanthrope in search of similar for mutual loathing
    • greenglide
    • By greenglide 9th Jun 17, 7:16 PM
    • 2,841 Posts
    • 1,820 Thanks
    greenglide
    • #3
    • 9th Jun 17, 7:16 PM
    • #3
    • 9th Jun 17, 7:16 PM
    and at least get my free bus pass!
    Anyone over female state pension age can get the bus pass - nothing to do with being "retired".

    Devolved administrations and London get the bus pass at 60.
    • Mnd
    • By Mnd 9th Jun 17, 7:55 PM
    • 122 Posts
    • 138 Thanks
    Mnd
    • #4
    • 9th Jun 17, 7:55 PM
    • #4
    • 9th Jun 17, 7:55 PM
    I don't think you will get your bus pass, it's tied to state pension age, coincidentally I'm 63 and retiring on July 20th, good luck to you
    • redmalc
    • By redmalc 10th Jun 17, 6:16 AM
    • 1,243 Posts
    • 469 Thanks
    redmalc
    • #5
    • 10th Jun 17, 6:16 AM
    • #5
    • 10th Jun 17, 6:16 AM
    Irret go for it but the bus pass is some time away,I think
    • Stubod
    • By Stubod 10th Jun 17, 9:49 AM
    • 397 Posts
    • 229 Thanks
    Stubod
    • #6
    • 10th Jun 17, 9:49 AM
    • #6
    • 10th Jun 17, 9:49 AM
    ..go for retirement if you are happy you can afford to. For me it would be a no brainer.
    • AnotherJoe
    • By AnotherJoe 10th Jun 17, 10:25 AM
    • 7,247 Posts
    • 7,764 Thanks
    AnotherJoe
    • #7
    • 10th Jun 17, 10:25 AM
    • #7
    • 10th Jun 17, 10:25 AM
    irret, "retiring" isn't an official thing.
    Whether you receive a pension and still work are two different things.
    As said your bus pass eligibility is a function of age, not retirement status, you dont get a bus pass by saying "I have retired".
    Presumably you are living off savings and have enough to mean you dont get benefits?
    • ianthy
    • By ianthy 10th Jun 17, 12:34 PM
    • 82 Posts
    • 38 Thanks
    ianthy
    • #8
    • 10th Jun 17, 12:34 PM
    • #8
    • 10th Jun 17, 12:34 PM
    A couple of years ago, I returned from a career break and found that the market in my specific skill area had collapsed. Work was more difficult to secure and the rates/pay were terrible. I reviewed my options and decided to bring forward my retirement by 2 years to age 53. A few years on, I am now in the process of transferring my DB pension and will create an income based on a number of investments. I think the big decision for me was not financial as I knew I could afford to stop, it was really about if I was ready mentally to stop work and create a new and different lifestyle... called retirement – I hate that word! It has taken more than 2 years to become comfortable with not working and being able to respond when strangers ask me what do I do. My days are filled but it has taken planning and making some tough decision about the areas that interest me and the areas that don’t. I have no regrets and feel incredibly lucky to have quit before age 55 and enjoying a new more relaxed lifestyle.
    Last edited by ianthy; 10-06-2017 at 6:51 PM.
    • chucknorris
    • By chucknorris 10th Jun 17, 12:45 PM
    • 9,099 Posts
    • 13,742 Thanks
    chucknorris
    • #9
    • 10th Jun 17, 12:45 PM
    • #9
    • 10th Jun 17, 12:45 PM
    Anyone over female state pension age can get the bus pass - nothing to do with being "retired".

    Devolved administrations and London get the bus pass at 60.
    Originally posted by greenglide
    You can't get a 'freedom pass' in London until you reach state pension age, have you got a link to these 'bus passes'.
    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 also hike, cycle and swim, less impact on my joints.

    For the avoidance of doubt Chuck Norris is an actor and an ex martial artist (not me)
    • Sleazy
    • By Sleazy 10th Jun 17, 12:53 PM
    • 6,403 Posts
    • 6,205 Thanks
    Sleazy
    Anyone over female state pension age can get the bus pass - nothing to do with being "retired".

    Devolved administrations and London get the bus pass at 60.
    Originally posted by greenglide
    You can't get a 'freedom pass' in London until you reach state pension age, have you got a link to these 'bus passes'.
    Originally posted by chucknorris
    I believe that subject to eligibility you can get a 60+ Oystercard at age 60, but can only get the 'freedom pass' when you reach state pension age. What the practical difference between the two is, I don't know ....
    https://tfl.gov.uk/fares-and-payments/adult-discounts-and-concessions/60-london-oyster
    • greenglide
    • By greenglide 10th Jun 17, 2:16 PM
    • 2,841 Posts
    • 1,820 Thanks
    greenglide
    The 60+ oyster only works within London and is available, generally, up to state pension age. The freedom pass is generally the same but can also qualify for free bus transport outside London - the same as the bus pass for the rest of England. The free tube and rail is only in London.

    As always England, outside London, is very much the poor relation.
    • fatbeetle
    • By fatbeetle 12th Jun 17, 2:53 AM
    • 296 Posts
    • 426 Thanks
    fatbeetle
    For me the question has never been; "should I", but "how soon can I", life's too short.
    “If you trust in yourself, and believe in your dreams, and follow your star. . . you'll still get beaten by people who spent their time working hard and learning things and who weren't so lazy.”
    • OldMusicGuy
    • By OldMusicGuy 12th Jun 17, 11:38 AM
    • 105 Posts
    • 159 Thanks
    OldMusicGuy
    Simple. Ask yourself what you want to do with the rest of your life. Do you want to spend it working or would you rather do other things? If you have health issues, do you want to spend what time you have left working (which might make things worse) or spend what time you have enjoying yourself? BTW, I don't necessarily mean you are going to die any time soon but we all have limited time on this earth so we have to decide wisely what we are going to do with it. Too many people keep working without questioning why they are doing it.

    I am 60 this year. I realise I may have 15 to 20 years of being pretty active if my health stays good. I do not want to waste any more of that limited time working, so I am, retiring February next year. But I have a lot of hobbies and interests outside work and I am looking forward to entering a new phase of my life. However, I spoke with a colleague last week who is 61 and in a similar job. He is fed up with work, doesn't enjoy it any more and can't see much point in continuing but he doesn't really know what he will do when he is retired. So he is hesitating.

    So if you can afford to stop working (and that's an important question to answer first), ask yourself what you really want to do with the rest of your life. Some people miss work, others can't wait to be done with it. Which are you? Or maybe you can find some work that doesn't pay much but is something you really enjoy doing and you can pursue as a low stress "hobby job".
    Last edited by OldMusicGuy; 12-06-2017 at 11:41 AM.
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