Early-retirement wannabe

ermine

Marine_life wrote: »

As of today we have enough money in pensions once we hit 60 that we will be fine, so for us its always been about funding the gap between now and then. That's about 9 years.[...]

I may be ultra-cautious but that's the accountant in me ;-)

Dude, it's not just money you're running out of. You cannae take it with you...

I've seen a fellow who was much fitter than I was pull his ticket to ride earlier than I. Because he hated what he was doing. He didn't clock 50 and a bit.... I am older now than he was when I stood next to his widow looking at the little pile of earth...

Ask not for whom the bell tolls - it tolls for thee

9 years is 12% of your three-score years and ten. And the first 20 was wasted on growing up...

Each to their own, but

Marine_life wrote: »

As of today we have enough money in pensions once we hit 60 that we will be fine

Yeah? How do you know that money will retain it's value? The Greeks may be getting an education to that sooner, but they may be the straws in the wind. I am not as confident as you are that I can buy my way out of some of the tough times ahead

wotsthat

Every extra year worked means a year of retirement will be spent in a coffin instead.

Black and white - no grey. You'll be able to afford the nicest coffin in the Co-op brochure though.

gfplux

Let's stop bashing Marine life. He has been good enough to share his journey towards retirement with us. The fact that the journey is longer that first predicted can happen to anyone.
While some of us who have made that jump into retirement do not understand his hesitation, remember we do not know everything about the plan.
However I would say to marine life that any criticism is well intentioned as frankly retirement for most is better than anyone can imagine and you should join us as soon as possible.

Marine_life

ermine wrote: »

Yeah? How do you know that money will retain it's value? The Greeks may be getting an education to that sooner, but they may be the straws in the wind. I am not as confident as you are that I can buy my way out of some of the tough times ahead

It's a good comment and who knows what will happen to our financial system over the coming years.

In terms of retaining value, both of my pension plans are final salary pensions, one is denominated in sterling and the other in EURO so there's a bit of financial hedging in there. On the other hand of course you never know what will happen with the companies / assets underpinning the pensions so of course there is an element of uncertainty.

But what you say actually underpins my attitude to having a large buffer. I'm not prepared to spend my retirement years worrying about money and if that means I am a year or so behind where we could have been then that's the price I'm prepared to pay.......and that really is the true definition of risk i.e. the cost of losing months of freedom versus the cost of being more financially secure. Everyone's balance will be different.

Goldiegirl

gfplux wrote: »

However I would say to marine life that any criticism is well intentioned as frankly retirement for most is better than anyone can imagine and you should join us as soon as possible.

That's exactly it - retirement really has exceeded my expectations, and I feel I need to encourage everyone to make the jump if they possibly can, as it really is that good


Be delaying you COULD be in a better position financially..... but you'd never get the time back.


At the end of the day, the every individual has to make the choice as to what is more important - money or time.


When you actually retire, you often realise that time is much more important than a few extra thousand in the bank

kidmugsy

Marine_life wrote: »

I'm not prepared to spend my retirement years worrying about money.

Sound policy that.

Marine_life

So........

What a funny weekend.

Our house has been on the market since Easter, we've had a decent amount of interest but this weekend we've had two second viewings and two offers! One of them is within 3% of the asking price so we've accepted.

Now the nervous wait to signing but it seems like the wheels are rolling :j

Karmacat

Marine Life!!!! Thats brilliant! Fingers and toes crossed for you

Marine_life

Karmacat wrote: »

Marine Life!!!! Thats brilliant! Fingers and toes crossed for you

Thank you.

We're off on holiday this week so it will give us something to talk about that's for sure - actually I'm a little bit shocked as we were planning to reduce the price at the end of July. But I guess you just have to wait until someone comes along who like the house just as much as you liked it.

tell_it_how_it_is

So, the most cautious, dithering, excuse-laden early retirement 'wannabe' in history will finally be handing his notice in over the next couple of months to ensure he can enjoy non-working life from March 2016, nearly 500 days late?