Early-retirement wannabe

mark55man

wow - Austria got a lot sandier/sunnier than I remember :-)


and there's more sea than is usual in a landlocked country

melanzana

madeinireland wrote: »

I always thought that £30k per annum would be enough for us in retirement but it seems to suggest I won't run out even at £36k and beyond. Even when I plan some fairly large spends in retirement it suggests I can go now. I'm just not brave enough yet to take the final step. At the moment I'm just drifting along in the job - I don't enjoy it much as its very stressful - but it pays well so I keep thinking just keep plodding along for a while longer till they decide they should get rid of me. I feel I am avoiding the final decision as I'm naturally cautious - always trying to create a safety net with the finances.

Anyone else feel trapped like that ? Lets just hang on a few months for that next bonus etc.

Hi, I was plodding along for a while in a job I actually liked a lot, but I wasn't happy in either, if you can understand!

So I made a five year plan to retire at 55. Paid down debts and mortgage first. Then one year before EARLY retirement I stepped down to three weeks on and one week off. That made me get used to a lower income straightaway. And it was fine.

I knew a package was in the offing, that's why I did less hours for a year. Then the package arrived, and I was a bit worried about how I would manage.

So off I went anyway, and TBH because my pension is lower than my part time earnings, the tax etc. is also lower, and I don't have all the deductions on my payslip that used to make me laugh out loud when I was working! So my pension income is not too far off what I was earning when I went part time. RESULT!

I can honestly say I have never been happier. Waking up every morning is like winning the lottery. Every day has so much potential to enjoy life!

I wish you well. Go for it. Sometimes, we worry too much about what if, and "what if" is not a problem at all.

Your username suggests you have Irish connections, I am Irish too.

"Go n-!ir! an b!thar leat"

atush

Bootsox wrote: »

The only people worried about the new rules are the vested interests in the pension industry.

Obviously they are belatedly trying to whip up hysteria to get the new rules diluted in some way.

so totally wrong. I ahve nothing to do with the industry but i have worries.

atush

Bootsox wrote: »

The old rules, i.e. insisting people buy a poor value annuity, treated people like imbeciles.

Yes very true.

Problem is, too many are imbeciles where money is concerned.

Thrugelmir

Bootsox wrote: »

The old rules, i.e. insisting people buy a poor value annuity, treated people like imbeciles.

Nothing inherently wrong in annuities. In a couple of decades the fad will return to things of a mutual nature. Rather than everybody fighting over their individual share of the pie.

mgdavid

melanzana wrote: »

....... Waking up every morning is like winning the lottery. Every day has so much potential to enjoy life!
........

I find Sunday evenings particularly sweet, checking the week ahead weather forecast and planning what I will do instead of going to work.

melanzana

mgdavid wrote: »

I find Sunday evenings particularly sweet, checking the week ahead weather forecast and planning what I will do instead of going to work.

Wow, you are so right there! The Sunday night blues issue, was always a problem for me. Could never really enjoy Sundays as a result, too concerned about what I forgot to do on Friday!

Early retirement is great. Even the quiet days are good.

Best wishes.

itm2

melanzana wrote: »

Wow, you are so right there! The Sunday night blues issue, was always a problem for me. Could never really enjoy Sundays as a result, too concerned about what I forgot to do on Friday!

Early retirement is great. Even the quiet days are good.

+1. I'm 18 months into early retirement and am still in a constant state of mild euphoria, not believing how lucky I am.

Nationwide8

Going to read this thread when I have time..am in the process of figuring out the whole early retirement plan.
melazana....know exactly what you mean about Sunday's.hopefully within a few years I'll be on the positive side

atush

Marine, I am on day 24 of your blog.

Very good, but wish you had added in reviews so I dont have to go over to TA lol? The cryptic comments good and bad are driving me crazy