Pensions Planning: The NUMBER

Ibrahim5

The dogs of homeless people living on the street always seem very happy to me. Their owners don't have to keep leaving them on their own for hours.

MallyGirl

Ibrahim5 said:

The dogs of homeless people living on the street always seem very happy to me. Their owners don't have to keep leaving them on their own for hours.

Mine is not left on his own as I work from home. We did have 2 until earlier this year and hole she has left is significant. Vets, insurance, meds and supplements, food - all cost a fair amount but I'd happily still be paying it to have her here.
Sadly some of the dogs you see on the streets are drugged to inspire sympathy and donations.

In retirement we might foster for rescues rather than taking on another dog, or two, for life.

Phossy

@MallyGirl "Sadly some of the dogs you see on the streets are drugged to inspire sympathy and donations." 

Well that is the most deeply cynical comment I have seen for a very long time. What is the positive intent behind posting that?

kimwp

Phossy said:

@MallyGirl "Sadly some of the dogs you see on the streets are drugged to inspire sympathy and donations." 

Well that is the most deeply cynical comment I have seen for a very long time. What is the positive intent behind posting that?

It might not be a positive subject, but it's a positive thing to share information.

Nebulous2

LL_USS said:

It is interesting to work out your "NUMBER", and now as many of us have concluded, the number for retirement can be so different across individual cases. It can be surprising to see that we can live with quite a small amount.

I have looked at this for a while and feel my number should be fine. Yet these days i am pondering on another question - Do I really want to retire early or not (let's not talk about "whether it can be an option for me or not").

 

I have aimed to work till 65 - then today my colleague from India say they can retire fully at 58 back home, another friend in a country in East Asia says as female she will contribute enough to "national insurance" to retire at 50, and the "normal age" for women to retire there is 55.

We keep on working and working here in the UK and sometime forget how loooooong our worklife is, compared to other countries.

I like my work but it is quite busy. Continuing for 10 more years is good but suddenly I am thinking... for 20 more years... - can be a stretch. 

Yet, there is a BUT, when we retire what can we do outside of travelling and volunteering (including helping our children with their own children, perhaps)? For the majority of UK we don't have enough sunshine and night life to keep us happy retiring early, I suppose (I am missing the night life in Fira, Santorini - you don't feel it even when it was already midnight. Even London cannot provide that). Early years in retirement will still be exciting when it's new. But then what about after, especially when we are not as keen to travel far and wide due to age.

Is it just me that worries about planning for what to do after retirement, rather than what to do to get to retirement?

I've posted this before, so I'll try to keep it brief. I had a longstanding DB pension but hadn't intended retiring, as I worked in care and it gave me a sense of purpose. During the pandemic I was dealing with a lot of distressed people and decided after a year of it that I had had enough. We did our sums and discovered I could afford to stop. We had a single income household. 

I very quickly concluded after I stopped that I wasn't ready to retire. The hobbies I had didn't fill the time I expected them to, and my vague plans for new directions fizzled out. 

I took a part-time job in the NHS, at a lower level than I had before. I've enjoyed that, it is different from my previous role, with a lot of contact with the public. I've also become used to the pay, to help fund the gap until state pension age. The hours have reduced a bit, I'm now working 1-2 days a week. 

I'm doing a lot of DIY, we've travelled a lot, particularly this year, I'm gradually finding a way forward and may give up work soon as I no longer need it. 

So my take on it is you not only need to consider the finances, there is also a psychological aspect. I've watched some Youtube videos on stages of retirement, they may be worth looking for.  From memory there is a honeymoon period, a depressed period, and then a growth phase where you find who you are without hiding behind work. Some people never get to that stage, but for many it is a very positive period. 

Somebody

If you haven't seen this before....

https://youtu.be/OuDCDp9Z9Y4

Bobinyorkshire

‘…….,.,..,,,So my take on it is you not only need to consider the finances, there is also a psychological aspect. I've watched some Youtube videos on stages of retirement, they may be worth looking for.  From memory there is a honeymoon period, a depressed period, and then a growth phase where you find who you are without hiding behind work. Some people never get to that stage, but for many it is a very positive period. ………..’



This is part of my retirement planning journey that I am also struggling with. Whilst I appreciate others have had a positive retirement experience and have never looked back, it is also apparent that this is not always the case especially if your social circles or pastimes are not easily upscaled into the more free time you have. 

I have been part time since 51 and I am now 57. All my finances are in place and I enjoy a healthy lifestyle of food and exercise (so I don’t need to spend more time doing this). I find work both stressful and stimulating, but a good place to mix with different demographic groups. However, I am aware I need an exit strategy and have spent a lot of time trying to understand the best approach to take. 

I realise this may seem a pretty lame problem compared to those with health and money worries, but that’s where I am

I found some u tube videos by Nick Maher helpful.

vacheron

Somebody said:

If you haven't seen this before....

https://youtu.be/OuDCDp9Z9Y4

I've been subscribed to James for almost a year now. His clarety and objectivity without any hidden agenda is very refreshing in the finance blogger realm.

Frugaliza

Sarahspangles said:

Mostly I just want to control my own time. As simple as that. I already know some of the things I want to do. In the main they are things I already do, given a free weekend, and it’s frustrating to have to put everything away and get back into work mode. 

Exactly this. 100%.  I've between 16 and 21 months left to the bid R day depending on when I decide to go.

pterri

Frugaliza said:

Sarahspangles said:

Mostly I just want to control my own time. As simple as that. I already know some of the things I want to do. In the main they are things I already do, given a free weekend, and it’s frustrating to have to put everything away and get back into work mode. 

Exactly this. 100%.  I've between 16 and 21 months left to the bid R day depending on when I decide to go.

Yep, me too. I want to get out on the bike on Sunday for a long ride. I’d love to chill after but will be stressing about work. Work is a time thief, it’s just not for me. I was speaking to a guy at work, said he would work for as long as possible as he wouldn’t know what to do with himself. No judgement from me, he love his work. I really do not!