I retired at 50 do most folks want never want to retire ?

standinman2009

I retired at 50 and luckily still have finances, to continue in my current life style, do folks really want to work forever, i didnt ,the Government thinks they do .
I am keen to hear others views , is a twilight career in B & Q ,the nations dream ?

JayZed

I don't think the government thinks that people want to work forever. They just think that most people can't afford to retire at 50 (or, indeed, at 65).

retireby50

standinman2009 wrote: »

I retired at 50 and luckily still have finances, to continue in my current life style, do folks really want to work forever, i didnt ,the Government thinks they do .
I am keen to hear others views , is a twilight career in B & Q ,the nations dream ?

As you can see from my forum name you achieved my dream. However, this is becoming increasingly difficulty due to impact of increasing life expectancy and the worlds's financial problems on pension schemes.

Some people would prefer to work, others wouldn't. From what I've seen many people of a maturer age than me find working in B&Q and the like very rewarding.

Did you get a BOGOF on commas by the way?:D

Shiny.Side.Up

Both my parents retired in the 2007; My father due to his failing health, and my mother retired because of the benefits my father recieves (she worked 16 hours a week, and when you totalled it up against what they got in by not working compared to the income my mother brought in, by working she only made 4pound extra a week.)

Both my parents now miss work immensly for the social and the "getting out and doing things" side but can't afford to and would struggle to get jobs anyway!

smerch1468

standinman2009 wrote: »

I retired at 50 and luckily still have finances, to continue in my current life style, do folks really want to work forever, i didnt ,the Government thinks they do .
I am keen to hear others views , is a twilight career in B & Q ,the nations dream ?

Everyones circumstances are different. If you have no kids, no mortgage and a lot of cash in the bank or in investments then it is possible. Not many people do these days.

tanith

There is a world of difference to retiring with good planning and finances behind you to enjoy your retirement to the fullest and retiring without the backing of good financial planning or as in my case 25yrs of being ASAHM and early retirement through ill health have a small final salary pension and now my state pension enough to be comfortable but not to fulfill all my retirement wishes.

I would of had it differently but life took over and my retirement went on a very back burner. I am sure many pensioners would love to be enjoying full retirement not working to maintain themselves well into old age but like me there are many reasons this is not possible. I feel lucky to have the small extra pension coming in and that my husband is still working allowing me to not work but many are not so lucky. Its nice to hear someone has actually got what they want in retirement its seems its the exception rather than the rule..

Pobby

I am about to start a course in computer repair, building and maintenance. Don`t fancy fully retirement but hoping to do a little self employed work in that field. Checked out the hourly rate and I am sure I could be far more competitive.

theGrinch

define "forever". everyone is different with different expectations, income, motivations etc. many people in their 80s are still working.

Pee

I don't want to retire at 50, although I'd like to have the financial provision in place in case I have to.

I have a lot of friends over 55 and most of them intend to continue working - one sold his house and went travelling partly because he was struggling to find work, he comes back to visit lots and although he likes spending winters abroad is basically an economic migrant, living where the cost of living is lower. One of my friends is 70 and technically part-time although he is often working 30 hours a week. He doesn't feel he can afford to retire by which he means he would have to reduce his standard of living, but he loves his work which means he still gets a lot of interaction with other people and better than doing the crossword.

DD2_2

I think the days of retiring at 50 (or even 55) are over for most people. Given the high cost of housing (even with the current correction in progress), having to fund children through university, the longer life expectancy (and therefore reduced annuity rates) and the lifestyle expectations, I just don't see how the majority of people could afford to put enough away to fund an early retirement.

I've performed somewhat of a blitz on our pension plans and managed to get them so that Mrs DD has £10k in her pot and I have £90k (we're both in our late 30's) but this is a drop in the ocean compared to what we would need to retire comfortably on. I'm looking at retirement at age 60, so we have 20odd years for our current pensions to grow and for us to continue to contribute to SIPPS and ISAs. I guess all we can do is to keep plugging away!

elsien

It's not just about the money for some people. My mother retired at 60 with plenty of money so no need to work, and after being at home all winter was slipping into a serious depression.
So she found a part time job she loved, got made redundant at 70 and is now throwing herself into voluntary work.
Although she'd planned the money side of things, she'd let her social life and friendships slip, and just didn't know what to do with herself. Typical workaholic.
I'd love to retire (or go to part time work) at 50, but it's only going to happen if I win the lottery! I'd like to keep the option of going back to do occasional relief shifts open though as most of the time I love the work I do.