Early-retirement wannabe

Goldiegirl

JasonPr wrote: »

I hope you don't mind me asking a question related to this topic. I'm in my early 30s and have no desire to have children. One concern I have, though, is who will take care of me when I'm old. I know having children is no guarantee that they will be there for you (you might not get along, they might move to another country, etc) but it's a concern nevertheless. I see my dad caring for my grandmother and wonder what would have happened to her if it wasn't for him.

Is this a concern you have? How have you mitigated it?

Sorry for the unpleasant question but it's a big concern for me and I'd like to hear other people's thoughts.

Hello there!

It's a very valid question, and it is something I have thought of, especially as I did help my parents.

They lived in quite a large old house, for the whole of their marriage, but it was privately rented, so it would have been difficult for them to move. The house was too big for them to manage, so with our help, they moved downstairs, and lived as if it was a flat. But they needed help with shopping etc and maintenance of the house. But in 2004 my dad died, and my mum had dementia and couldn't be left alone.

In the end, everything was sorted out, and I was able to get my mum into a good care home, and I packed up the house and returned the keys to the landlord. I also dealt with my dad's estate and had power of attorney for my mum.

I've always said that it's the wrong reason to have kids to look after you in your old age - BUT I do wonder who would be there to do all those things for me, if I was the last one left. It is a scary thought.

I have mitigated the worries a little bit, by deciding that, in the event of my DH dying first, I would move to a small flat, which is very easy to manage, and probably in a warden controlled development.

It's not a happy thought, but in that type of environment there'd be someone to look out for me in an emergency, and as for the rest of it, if the worst came to pass and I ended up with dementia like my mum, the 'system' would kick in and social services would deal with my affairs.

Hope that helps a little bit!

bugslet

Hello Jason

49 female, no children through choice. In addition I have no family whatsoever and my partner of 28 years is terminally ill. So I think I'm qualified to answer the question;).

Not having children has meant that I have worked all my life, bar a brief 10 week period of unemployment in '85, so there fore I have had the chance to put more in a pension, work towards no mortgage etc, all the financial provisions that you can do.

As for what happens if I end up like my other half, dementia and cancer, then I guess that social services will step in and make provision on my behalf. I have lodged information with a close friend relating to personal finances.

I think you have to do whatever makes you comfortable, but accept that some things are out of your hands. You may live to a 100 in good health, you may be severely injured in an accident tomorrow. It's all about finding the middle line you are happy with.

115K

littlemissbossy wrote: »

eta: I've just come across your thread about "The Number" I'll have a good read.

Could someone put a link to the number thread?:) I can't find it.:o

Oops. Found it and I will give it a read!

melanzana

115K wrote: »

Could someone put a link to the number thread?:) I can't find it.:o

Oops. Found it and I will give it a read!

Hi could you post the link please? I've searched, but to no avail!

Thanks

Goldiegirl

SPnomore wrote: »

How are those early-retired dealing with employment questions, for things like car/home insurance. Do you keep with your old profession? I guess saying "retired" only applies at retirement age? Or do you say "unemployed"? Has it ever made a huge difference to premiums?

That's an interesting question.

I'm already in receipt of a pension from a previous job, but I also work part time, two days a week.

So I could, I suppose, already describe myself as retired or semi retired. But whether it's form filling or talking to people, I always describe myself by my work.

All being well, I should stop working within the next 2 to 3 years.

At that time, when I'm form filling, I'd describe myself as retired. It has a certain air of having worked and earned enough to justify not working.

'Unemployed' sounds like I should be working, and 'housewife' sounds a bit to passive for my liking.

But if I'm talking to people I'm not sure how I will describe myself - retired sounds a bit old !

115K

melanzana wrote: »

Hi could you post the link please? I've searched, but to no avail!
Thanks

Pensions Planning: The NUMBER - MoneySavingExpert.com Forums

There are quite a few posts with people throwing insults around but some helpful info in there too.;)

Lois_and_CK

Goldiegirl wrote: »

'Unemployed' sounds like I should be working, and 'housewife' sounds a bit to passive for my liking.

But if I'm talking to people I'm not sure how I will describe myself - retired sounds a bit old !

How about 'Happy', 'Elated' or 'Free'?

kidmugsy

Goldiegirl wrote: »

'Unemployed' sounds like I should be working, and 'housewife' sounds a bit to passive for my liking.

But if I'm talking to people I'm not sure how I will describe myself - retired sounds a bit old !

How about "I have private means"?

Goldiegirl

How about 'Happy', 'Elated' or 'Free'?

How about "I have private means"?

Yes, they are much better suggestions.

I might go with 'private means' - sounds like I'm from Downton Abbey ! :rotfl:

dreaming

Ha-ha - I make sure that I tell people I have EARLY retired, although a bit fed up with people who keep asking me if I get a free bus pass.
I am definitely happy, elated, and free.