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

McKneff

I'm coming up 60 and to be honest, because i have worked since i was 15 years old, just taking a year out for 2 children the prospect of retiring fills me with dread. I wont retire anyway, i am lucky enough to be in a job where i can drop from 5 days a week to 3. Its not the money, we would manage pretty well, no mortgage, decent amount of savings. I like the discipline of getting up at a certain time and having a goal. I like the interactive side of work and being a receptionist I am in constant contact all day with people nationally and sometimes internationally. My bil retired at 50 and like me had worked all his life. He said for about 6 months he didnt know what day it was when he got out of bed let alone whether it was a week day or a week end. He got used to it eventually but sorry, its not for me. I will have to do it gradually.

sarah_elton

I'm 28 and I want to retire at 29.

Unfortunately, since I was late to start my pension, I think the odds of me being able to retire at 50 are pretty remote.

Pee

sarah_elton wrote: »

I'm 28 and I want to retire at 29.

Unfortunately, since I was late to start my pension, I think the odds of me being able to retire at 50 are pretty remote.

Is retraining for another job an option for you in the longer term? If you have over 20 years to go, you should be doing something you enjoy.

Secret_Lady

sarah_elton wrote: »

I'm 28 and I want to retire at 29.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Pssst

We all think it would be nice to retire early but the reality can be very different.

If your 50 or 55,do you retire and slash your income or,if your in a good job,do you keep pulling in 30 or 40 grand or more but try to up the quality of your life in other ways?

If you retire,can you afford to and will you have enough to do to fill your time?

Will you suddenly find yourself looking at your partner,perhaps with an empty nest,and wonder why you are still with this person?

Should you retire as early as possible to secure your final salary pension before your pension scheme/HM Government STEAL it off you?

FCRangers

I'm 24 years old, don't have a pension. I can't see in a million years how i could ever afford to retire at 50, not even 60.
I mean i've got a good job (web developer) got a 1st degree in computing and on decent money. I looked at one if i put £100 a month in a pension until i'm 65 i will get about £8000 in todays money. What's the point. May as well just die young.

sarah_elton

Pee wrote: »

Is retraining for another job an option for you in the longer term? If you have over 20 years to go, you should be doing something you enjoy.

5 years after graduating I'm in my second career, so changing again just starts to look flighty. I like my job well enough, there's just lots of things outside of work I enjoy that I'd rather be doing with my time lol.

To FCRangers - if you've paid off your mortgage, £8000 per year in today's money is enough to cover bills and basic living costs. And as you earn more you might be able to increase your contributions from £100 in today's money.

Peelerfart

FCRangers wrote: »

I'm 24 years old, don't have a pension. I can't see in a million years how i could ever afford to retire at 50, not even 60.
I mean i've got a good job (web developer) got a 1st degree in computing and on decent money. I looked at one if i put £100 a month in a pension until i'm 65 i will get about £8000 in todays money. What's the point. May as well just die young.

How young is young - 25 ?

Pee

FC Rangers - do put the £100 a month in now and up it if and when you can. The longer the money is in there, the more it can grow and much easier than struggling to find more when you have more financial commitments.

Bogof_Babe

I "retired" (vol redundancy) at 50 intending to look for another job, preferably part time. Didn't work out like that as I spent the next four years looking after my elderly parents (while working I hadn't even had time to notice how much they were struggling).

When dad died and mum went into a care home I finally embarked on my retirement, and three years on I am still loving it. Wild horses etc....

My husband also took vol redundancy three years after me, but he was climbing the walls and has had a succession of part time jobs, which he throughly enjoys. He's 63 and has no intention of hanging up his hoover (currently a school cleaner and doing a bit of decorating there too).

We come into the "no kids, no mortgage, money in the bank" bracket, although our spending habits have been seriously revised due to the collapse of interest rates. It's one day at a time now, but as long as the savings last I can't see me ever looking for employment again.