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

gericom10

agree with the train driving, got a good friend who has been doing that for the last 10 years, earns a fortune and had no pension prior to getting the job, now well set up.
if you contribute with them, they add a good percentage.
so get a well paid job and a good pension, wish i had done it!

James123_2

dazcouz wrote: »

Hi, could someone give me some advice please. I am currently 22 nearing 23 and have not set up a pension scheme yet. I have savings of £25k which I have saved on my own up over the past 3 years at work.

Wow ... wish I could have saved 25k at your age. Nice one. I don't think you'll have very many money worries as you clearly have a sensible head on young shoulders. (Don't forget to party too!)

PasturesNew

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 ?

I am single and have no pension. No choice in the matter at the moment.
I'll be hitting that golden age next year.

aah

Pobby wrote: »

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.

yeh but surely most people would want an expert.... thats why they cost

aah

FCRangers wrote: »

When im in my mid 30's i will end up at BAE or somewhere for life so they can help pay in.

dream on...

PasturesNew

marklv wrote: »

If you want to live decently when retired - that means having a two week holiday period a year, eating out at least twice a month and going to the movies/shows on a regular basis, you'll need at least £20k a year per person. Sadly, only a minority of people will receive this much on retirement.

I've not achieved those while working, so certainly have never had the extra to be able to put away enough to put towards retirement.

I've spent many years with just £50-100/month to live on after the very basic bills are covered - and a lot of jobs changes outside of my control, which inevitably lead to downtime between jobs, that then takes a few months to catch up again, before the next layoff.

I'm pinning my money on meeting Mr Right in a few years, who will already be independently wealthy and have his own final salary pension pot.

Merrion_Square

dazcouz wrote: »

Hi, could someone give me some advice please. I am currently 22 nearing 23 and have not set up a pension scheme yet. I have savings of £25k which I have saved on my own up over the past 3 years at work. My main goal was to build up a decent deposit to go on a flat. But was wondering whether it would be a good idea to start a pension. There is no pension scheme at work and to be honest I don't see myself staying there too much longer due to the very poor pay (£15k) and failed promises. My plan for a while is train up to be a train driver as it has been my dream for a while. Train drivers earn £30K plus and have a good pension scheme I believe as well. Anyway what would you do in my shoes? Thanks

Train drivers' working hours can be a bit unsocial - things like getting up at 4 a.m. or getting home very late - so not everyone can hack it. Though as you've saved £25k, it sounds like you have the self-discipline. Train drivers are expensive to, err, train, so the train companies really are looking for people who are dedicated to the job, reliable, healthy, level-headed, attentive, and who will be around for several years. From what you say you sound like an ideal candidate. As someone who's been on the railway for years, I can confirm that the benefits are good (good pension scheme, strong unions, good pay etc.).

edrig59

Hi Standinman2009,

I am hoping to take voluntary early retirement next year (at 50) due to many circumstances.

Having completed 30 yrs for same employer I was only ever going to work until 55yrs.

I am not what you could call wealthy but I believe in enjoying life whilst you can, whilst you have your health.

Sadly, so many people retire at 65 and have very little retirement due to sudden illness.

I say go for it if you possibly can.

edrig59

gilly41

My OH is just about to take Voluntary Redundancy for a very well known company---he has worked there for 34 years doing a very hard factory job.He is 50 and as luck would have it the age for taking part pension is 50

---

going up to 55 as from April next year so it couldnt have come at a better time for us.
He is taking a lump sum too and we are going to pay off a big chunk of the mortgage with that:)
Also he has been very lucky in getting a 30 hour a week relatively "easy" job. I am over the moon cos it means an easier life for him and he has been able to get out of job that he has disliked for a long long time.
I think he would have liked to retire really but it just wasnt an option---however his part pension has made it so he can take a much easier job

marklv

PasturesNew wrote: »

I've not achieved those while working, so certainly have never had the extra to be able to put away enough to put towards retirement.

I've spent many years with just £50-100/month to live on after the very basic bills are covered - and a lot of jobs changes outside of my control, which inevitably lead to downtime between jobs, that then takes a few months to catch up again, before the next layoff.

I'm pinning my money on meeting Mr Right in a few years, who will already be independently wealthy and have his own final salary pension pot.

You're not alone. My mother only had £120-130 a week to live on after my father died - a disgrace. The government owes its citizens a decent life on retirement.