Early-retirement wannabe

justme111

The answer would depend on many individual factors. To which extent you would prefer to do whatever else rather than being at work. How that million would change your life (suppose after tax there will be just half of it left). And multiply those thoughts by two as I guess you are part of a couple and I find it a bit strange that preferences and priorities of other half are not mentioned as it is extremely important factor.
Let's hope they don't offer you 1 million

wotsthat

Marine_life wrote: »

Would they offer me a $1 million a year to stay? ........you know, they just might.... and what do you do then?

You could have an Ermine lined coffin.

greenglide

I would definitely work an extra year for £1,000,000!

(or even £500,000!)

gadgetmind

He had a dollar sign, so only around £650k, which is about £360k after tax. Yes, I'd get out of bed for that, but it depends how much the work is crushing someone and whether they need the money.

Marine_life

I though I would drop in on the day of my 51st Birthday.

I should have been retired by now.

So what's the perspective on "what went wrong" if indeed you can call it that?

I think that when you retire its important to do so with a completely clear conscience both financially and mentally.

Financially, you need to be sure that the numbers add up and that you are not going to have to go back on the decision (unless of course working fewer hours or part time is an inherent part of your decision). That means you need to be confident of your spending plans as the last thing you want is to have to lie awake at night worrying about money. I also think that psychologically there has to be a point where you accept that you are going to have to start depleting your savings rather than adding to them.

I've looked at those factors and while I think we had a decent buffer there were still some big things in play (son at university, moving house etc.) but also there's an element of conservative particularly associated with uncertainty attached to so called gold plated pensions. And whilst we have a strong legal entitlement I don't want to have to face a position on pensions that I would need to resolve by going back to work.

The mental side is whether I'm ready to fully drop out of the employment market. Over the last couple of years I've struggled a little with motivation but recent events and a change in our senior leadership has put me in a better position and indeed I've started moving up the leadership ladder again. I wouldn't say its "fun" exactly but I do feel a little as though I've got my mojo back. I'm putting this post here today because I want to see where I am at this point next year which will be really when the tough decision comes.

So maybe i should rename the thread "early retirement notsureiwannabe" ;-)

AlwaysLearnin

Marine_life wrote: »

...as the last thing you want is to have to lie awake at night worrying about money.

Actually, the last thing I want (from an early retirement perspective at least), is to shuffle off this mortal coil having not maximised my time in whichever way I feel fit, rather than how someone in 'senior leadership' says I should/must...

Anyway, happy birthday!

kidmugsy

I do wish people would be franker and use German for the kind of "leadership" they often have in mind. Führerprinzip.

atush

Happy Birthday ML

ManofLeisure_2

Best wishes on your birthday ML.

I'm sure that when the time comes for you to hang up your boots, you will do so willingly. Until then, enjoy life for what it holds today

gadgetmind

kidmugsy wrote: »

I do wish people would be franker and use German for the kind of "leadership" they often have in mind. Führerprinzip.

Yes, that would greatly aid clarity of communication. Or, as I haven't got a clue what you're on about, maybe not!