Early-retirement wannabe

edinburgher

atush wrote: »

And personally, as one who owns a FL house, i would not sell that. I would wait until you retire and have your first 2/3 month vacation. Then see how you go.

Sounds lovely

melanzana

How is everyone?

Has anyone taken the plunge lately? Don't dither, if you can afford to, and really want to, just do it! Take it from me.

Still great here. Just back from your wonderful country, Oxford and surrounds. Wow. Pity about the Sterling difference as I am in euroland. But I coped.

Off to Basque Country in a couple of weeks. Somewhere I always wanted to go. Great flights and accomm. Will be moving around on buses and trains. Great way to see the place and meet the natives!

Best of luck to all.

gadgetmind

Well, on top of a number of 4 day weeks, I'm doing 2.5 days this week, and 4 again next week. Mind you, I am being lured into a new venture now certain people have sniffed out my increasing availability so one "day off" was spent in someone's office in Manchester. Nice.

Marine_life

You had to ask didn't you.

I have dithered.

This year I started with a countdown to retire at 52. In all my spreadsheets this was my long-stop date, the date when we would have enough money to be really, really sure of never running out of money. We have only a small percentage of our savings now in equities (around 15%) and have moved the rest to safety so even if there were a major financial meltdown we are set.

But I realized some time ago that Early Retirement isn't only about the money. Its about having a retirement plan which identified how we will fill our time. We have some thoughts and this winter i managed around 30 days of skiing (while still working full time!) but its still not a plan as such.

Then there was a slight curve ball the last couple of months when I got the unofficial work I was being considered for a big promotion and potentially double the money I am on now. Honestly it would be difficult to turn down. I am still waiting on the decision.

I expect to know within the next week whether I am gone by October or signing on for another four years

atush

52 is young, and to my mind too young to hold only 15% equities. but I digress.

Take the promotion and work another year or two. You'll be quids in, and that extra will help with any future volatility.

you had 30 days skiing, I expect you have time off in summer too? How much time off at that young (ie my age ish) do you need?

I see people retiring at 45-50 or so. Then the family comes apart. Too much money and leisure time, with still kids at home some times. Tying up one of the partners from all the fun of the fair?

Restlessness, money and time can bring problems all of their own.

melanzana

Marine_life wrote: »

You had to ask didn't you.

I have dithered.

This year I started with a countdown to retire at 52. In all my spreadsheets this was my long-stop date, the date when we would have enough money to be really, really sure of never running out of money. We have only a small percentage of our savings now in equities (around 15%) and have moved the rest to safety so even if there were a major financial meltdown we are set.

But I realized some time ago that Early Retirement isn't only about the money. Its about having a retirement plan which identified how we will fill our time. We have some thoughts and this winter i managed around 30 days of skiing (while still working full time!) but its still not a plan as such.

Then there was a slight curve ball the last couple of months when I got the unofficial work I was being considered for a big promotion and potentially double the money I am on now. Honestly it would be difficult to turn down. I am still waiting on the decision.

I expect to know within the next week whether I am gone by October or signing on for another four years

You started a wonderful thread that got a huge amount of posters involved. That was so interesting and helpful to many.

But without bringing it to a personal level, I really never thought you were quite ready, and also you were a bit on the young side too.

I just hope there will come a day when you ARE ready, and that you won't dither then!

Look it's each to their own. Best of luck, and work away, take the promotion, save some more, and do what's best for you and your wife and family.

I sometimes feel that the less you have the easier the decision! And that is not meant as a snip at you either, although if I had anything like you have right now, I'd consider it a lottery win!

At the end of the day, this thread would not have existed without you.

Marine_life

atush wrote: »

52 is young, and to my mind too young to hold only 15% equities. but I digress.

Take the promotion and work another year or two. You'll be quids in, and that extra will help with any future volatility.

you had 30 days skiing, I expect you have time off in summer too? How much time off at that young (ie my age ish) do you need?

I see people retiring at 45-50 or so. Then the family comes apart. Too much money and leisure time, with still kids at home some times. Tying up one of the partners from all the fun of the fair?

Restlessness, money and time can bring problems all of their own.

The 30 days skiing was hard graft (if that makes sense) and was done mostly at weekends so didn't eat substantially into annual leave. Certainly, using my free time from work more actively has made life more bearable!

Marine_life

melanzana wrote: »

You started a wonderful thread that got a huge amount of posters involved. That was so interesting and helpful to many.

But without bringing it to a personal level, I really never thought you were quite ready, and also you were a bit on the young side too.

I just hope there will come a day when you ARE ready, and that you won't dither then!

Look it's each to their own. Best of luck, and work away, take the promotion, save some more, and do what's best for you and your wife and family.

I sometimes feel that the less you have the easier the decision! And that is not meant as a snip at you either, although if I had anything like you have right now, I'd consider it a lottery win!

At the end of the day, this thread would not have existed without you.

Many thanks.


A lot of people think about Financial Independence in tandem with Early Retirement and once you have reach FI actually the burning desire to RE reduces, simply because you know you can.


I am not certain to get the promotion so could still be going this year - but if its offered, I've concluded I would be mad to turn it down.

nicknameless

Will tune back in sometime during 2034 for your retirement announcement ML (only part tongue in cheek)

First world problems as they say.

Good luck to you whatever the path.

Broadsword

Early posters focussed on the financial aspects, but the unknowns of life can have a huge impact on any plans. There is mention of health more recently but, as I have discovered, just past retirement age, after a very healthy life, plans can go awry. While this might be unlikely, and I thought so, I now have a severely life limiting illness. It could have affected any family member, and could be an unexpected drain on resources, even more so if now domiciled abroad. It can even more likely affect elderly relatives who need care costs subsidising and I have several friends who find themselves paying towards the care of others. Life will always have unknowns and misfortunes and it is important to leave some space in planning for these too. Many might be protected currently by private health insurance but the premiums for this both rise with age and with medical advancements. So plan for wear and tear replacements, which might be needed down the line, or at least be prepared to return to the NHS to be kept in good order.