Early-retirement wannabe

bendix

cyclonebri1 wrote: »

No, you wouldn't

Ummmm. Right.

Well, thanks for your excellent insights into how I should be spending my time. I'll be sure to take it under advisement.

cyclonebri1

bendix wrote: »

Ummmm. Right.

Well, thanks for your excellent insights into how I should be spending my time. I'll be sure to take it under advisement.

Don't worry no need to thank me, I'd do the same for anyone, even if they where down and out,;)

Lakeland9

Fascinating stuff- which has prompted me to make a first post.

I only have 76 days to go before retiring at 57 from an all-consuming professional services job which I've done since graduation in 1976.

I took the opportunity at the original Pensions A day to pile as much cash as I could into a SIPP, making maxed out contributions for several years, so my plan is to use the tax free lump sum from that initially, which should last me at least 5-7 years at around £40k pa before deciding what to do next. I'll probably go into drawdown with the rest, but must confess the thought of a secure income for life as an annuity will probably be tempting, or as my IFA said, rather too cheerfully I thought, " you might be ill by then so you can get an enhanced rate.."

My OH is now 60 so is about to get SP and has an index-linked £12k pa from teachers pensions, and also has most of our other savings in her name as she's been a non taxpayer for 10 years up until very recently.

I sort of dread having nothing to do and I've been writing fiction for some years. I've got a University place in September for a Masters degree in Creative Writing so that will be marvellous, I hope.

Who knows whether I'll last 30 years or as many minutes, but i intend to write for at least half the day and then generally muck about for the rest! Sadly, I sold my Nissan GTR a few weeks ago but will get something which is only slightly more sensible....

We have no kids, so rather hoping I can snuff it with the last tenner on the bedside table. Timing that will be tricky,though!

Gatser

Lakeland9 wrote: »

We have no kids, so rather hoping I can snuff it with the last tenner on the bedside table. Timing that will be tricky,though!

I hope your writing does not turn out too lucrative then!

All those tenners to deal with!

Good luck

ps Have you thought of writing a tale of mystery, suspense and pensions legislation? (you could base it on reality) :rotfl:

hugheskevi

ps Have you thought of writing a tale of mystery, suspense and pensions legislation? (you could base it on reality)

I hope they teach Tradegy in the Creative Writing course

cyclonebri1

Lakeland9 wrote: »

We have no kids, so rather hoping I can snuff it with the last tenner on the bedside table. Timing that will be tricky, though!

I'm sure there's a famous quote about that around somewhere, something about arriving at deaths door with all organs shot at, down to the last fiver but with a smile on your face, and it's the timing that worries me too.

Having finished work at 55 I can say that however you spend your time, it can become like work. For instance I started going fishing 4, 5 or 6 days a week, now it's back down to a couple. Many separate hobbies works for me, plus the ability do decide what to do when I get up of a day.;)

I also have to add, that although not applicable to you Lakeland, we've had 4 grandkids arive in the last 4 years. I now devote a good deal of time to them that I couldn't do for their parents as I was so dam busy working

Lois_and_CK

bendix wrote: »

What makes you think I'm wasting time? I enjoy the site; ergo I'm not wasting time, I'm spending it.

I don't understand your point.

Bendix, I always find your posts useful and informative, so thank you for 'wasting your time' .

cyclonebri1

Lois_and_CK wrote: »

Bendix, I always find your posts useful and informative, so thank you for 'wasting your time' .

I too thank bendix for wasting our time,





But not condescending???


My last post on this subject is this.

I luuuurve my retirement because I no longer hate Sundays, not that difficult to figure? hehe, , and I'm a poor man.

arrizel

Hi
I know exactly how you feel. I use to work in the merchant navy and retirement planning was not one of the 'done things' in my day
So I decided to change tact, before leaving my seagoing career I decided that financial freedom was important to me....having the feeling not to HAVE TO go to work to live day to day.
I started to invest in property about 5 years ago and although have made a few mistakes in the past and have learnt from them and educated myself further will be in a position to retire in 3 years time.....I'm 30 btw.
I am building enough cashflow that I can survive every month without a 'wage' and spreading the risk to cover eventualities and contiously educating myself.
Having said that, retirement for me is not pottering around doing whatever, it's being given the choice to live my life how I please without the fear of economic crisis, redundancy etc

Good Luck

Domain.Rider

arrizel wrote: »

...
Having said that, retirement for me is not pottering around doing whatever, it's being given the choice to live my life how I please without the fear of economic crisis, redundancy etc

Don't entirely dismiss pottering around doing whatever; it has its place as one of the guilt-free joys of retirement