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

butterfly72

cyclonebri1 wrote: »

How the hell can the government expect manual workers to graft into thier 70's

I agree with this. I'm 37 and a nurse. I find my work physically demanding and exhausting. I had a very very busy week last week and I'm still feeling achy and stiff and its Sunday evening. There is no way I can keep this up to my retirement at 60, forget 70!! I'm thinking of entering management at some point to boost the pension and save my body!

I feel I could retire at 50. I could think of plenty of things to do! Give me a horse, a dog, some chickens, a veggie plot, country walks and the WI :rotfl:and I'd be satisfied (as long as I could pay my bills of course!!)

I will have to work to 60 tho if I want a decent income. I'm currently buying extra years for my NHS pension and can make it up to 40 years if I work full time until 60. (not sure if that will happen TBH!) I'm also paying into a S&S ISA as a way of bumping it up.

Pssst

project500 wrote: »

Does anyone have any lead in ideas on how much money one does need to retire on at 50 ?
I know it depends on lifestyle etc but it might be helpful if some ideas where banded about on what people do manage on or think they could manage on !

Oh its frightening..! If you were to retire at aged 60 (male),each £10k you had in your pension pot would buy you an annuity of...


Drum roll......

About £580 per...................YEAR....ROTFL


http://www.moneyfacts.co.uk/annuities/bestbuys/1/cpa_female_60.aspx

ukmike

About £580 per...................YEAR....ROTFL


http://www.moneyfacts.co.uk/annuitie...female_60.aspx

That's for a woman,a man gets slightly more.

Desperate_Housewife_2-2

butterfly72 wrote: »

I agree with this. I'm 37 and a nurse. I find my work physically demanding and exhausting. I had a very very busy week last week and I'm still feeling achy and stiff and its Sunday evening. There is no way I can keep this up to my retirement at 60, forget 70!! I'm thinking of entering management at some point to boost the pension and save my body!

I feel I could retire at 50. I could think of plenty of things to do! Give me a horse, a dog, some chickens, a veggie plot, country walks and the WI :rotfl:and I'd be satisfied (as long as I could pay my bills of course!!)

I will have to work to 60 tho if I want a decent income. I'm currently buying extra years for my NHS pension and can make it up to 40 years if I work full time until 60. (not sure if that will happen TBH!) I'm also paying into a S&S ISA as a way of bumping it up.

I agree, some jobs are too physically, emotionally and mentally demanding and draining to do for years and years. Nursing seems to me to be getting harder, at the local hospital the nurses are working 7am until 7.30pm or 7pm until 7.30am and its non stop hard slog. No time for a drink or toilet visits etc.

I think we are all working far too hard! Wouldn't it be lovely if the whole of society's psyche changed and we realised that less is more, stop chasing some type of american dream where everyone wants more stuff and keeping up with the joneses but try and appreciate what we have, the things that matter, food on the table, shelter, loving family around us and our health. I realise that some people have to work these hours just to provide the basics. Makes you feel that something is wrong with society.

I would like to semi retire and work a couple of days a week if I can sustain my family doing it. I hope to pay off my mortgage at the end of the year and look at topping up my retirement fund in some way, probably put more in the pension and build up a cash isa pot.

johnaka

all I need to retire on is £150 aweek..£7800 a year.
another 7 years wait............

Ma77hew

Not sure if many of us could even start drawing a pension at 50, I think the earliest you can take them now is 55.

Anyway, just used a pensions calculator and got the following estimate based on me continuing contributions of £470 per month.

at 55 £8700
at 60 £12500
at 65 £18250

Personnally I don't think its stressed enough just how much you need to pay into a scheme in order to live comfortably in retirement, whether thats early or not.

PS. I'd happily retire tomorrow, but its not going to happen.

jem16

Ma77hew wrote: »

Not sure if many of us could even start drawing a pension at 50, I think the earliest you can take them now is 55.

Up until April 2010 you can retire at 50 if you wish. After that it becomes 55.

Ian_W

Desperate_Housewife wrote: »

I agree, some jobs are too physically, emotionally and mentally demanding and draining to do for years and years. Nursing seems to me to be getting harder, at the local hospital the nurses are working 7am until 7.30pm or 7pm until 7.30am and its non stop hard slog.

I do think, as a society we're feeling ever so very, very sorwy for ourselves (didums) when I read comments like this or news items about how long, hours wise, people all now work.

Our (or my, I'm in my late 50's) parents generation were required to work much longer contractual hours than is now the case. When I joined the workforce the norm was 42hrs but that had been reduced from 48hrs in only about a decade. Now most are contracted to do less than 40 and some as little as 36 in full-time employment. For many it was a 6 day week - every week - with much less paid holidays.

The nurses you mention I think are on a 37.5hr week so if they're working those long shifts then they're getting 3 or 4 days a week off! Or they're working overtime but even that is limited by law and if they're not getting breaks they should be seeing their unions because even those are set in stone.

Don't get my wrong. My wife has just retired as a nurse after 38yrs so I have every sympathy but even she would say it's now less physically demanding then when she started (no lifting & handling regs then) though it's emotionally tough - but, hey, that comes with the territory as in other jobs - but the most frustrating things are management, targets, quotas, budgets and complaints when everything has been done correctly.

Oh and BTW I too retired at 50! Never looked back and am luvvin it! But I still recognise that previous generations worked harder than I did - then the poor burgers died about 5 minutes after they got their pension!!

mess0804

I would retire even tomorrow if I could afford it... (I am 30 ). Maybe a part-time business to keep me busy... wishfull thinking...
I am saving as much as I can and hope to retire at 50 ... maybe 48... or 46 . Unfortunatelly my father loved his work and was upset at the thought of having to retire at 65 --- he died last year at 53. I hope to have some time for myself not like him.

bendix

Pssst wrote: »

Oh its frightening..! If you were to retire at aged 60 (male),each £10k you had in your pension pot would buy you an annuity of...


Drum roll......

About £580 per...................YEAR....ROTFL


http://www.moneyfacts.co.uk/annuities/bestbuys/1/cpa_female_60.aspx

Which equates to a return of 5.8%. Where else can you get 5.8% return these days?

It's pointless whinging out it. There is absolutely no need to buy an annuity these days, so if you feel you could invest your 10k yourself and get a better return, while keeping control of the principal, then you should go ahead and do it yourself.

It's not rocket science. Less whinging and more taking control of your own destiny is what's needed.