Early-retirement wannabe

chucknorris

gadgetmind wrote: »

I do a lot of things that can't be justified on a "what my time costs" basis such as smoking my own food in a home-made cold smoker. I'd sure I'd hate having to do it because Waitrose ceased to exist!

I tend to go the other way anyway, and justify paying for other people to do things because my time is worth more than they charge.

gadgetmind

chucknorris wrote: »

I tend to go the other way anyway, and justify paying for other people to do things because my time is worth more than they charge.

I do know what you mean, but I tend to get people do things for me where it's cheap and unskilled (painting, lawn mowing, swapping car exhaust, etc.) and I do things that save big chunks (swapping parking brake motor on Audi, me=£170, dealer=£1100, data recovery, me=£0, specialist =£kkkkkk).

I also like to keep my range of practical skills well stocked up as some time I will have more time and less money, so being able to do pretty much anything will have real value.

uk1

gadgetmind wrote: »

I do a lot of things that can't be justified on a "what my time costs" basis such as smoking my own food in a home-made cold smoker. I'd sure I'd hate having to do it because Waitrose ceased to exist!

Exactly the same ..... but in my case it is always food related, and it's always something along the lines of simply seeing whether I can do it. And then getting bored once I have mastered it. Also a home made smoker and we have had some great fish out of it. And like your name I am also a sucker for gadgets, but normally only kitchen ones. I suspect we have the most over equipped kitchen .....

Jeff

kingrulzuk

I'm 32 years old and I don't have any pension pot. I'm doomed

edinburgher

kingrulzuk wrote: »

I'm 32 years old and I don't have any pension pot. I'm doomed

Best get cracking!

gadgetmind

The best time to plant a tree is 10 years ago. The second best time is now.

westv

Would I be correct in saying that anybody can start phased retirement once they reach 55 as long as their employer agrees?

atush

Goldiegirl wrote: »

The sackcloth and ashes crowd claim to love their lives, but I remain sceptical.


There are many nice things that can be done for free or cheaply, but after a while I think they would become limiting if they were the only options on offer. I like going for walks and taking a packed lunch.... but I also like going on cruises too


From time to time, I think some money needs to be spent to get the most enjoyment out of retirement (early or not) I think people should plan to spend some of their hard earned money on experiences.

I agree, I am not a high spender needing the best of everything. But MMM and his 'sack cloth and ashes types' is not my way of enjoyment.

I had periods earlier in life when I had to work hard, for long hours. for little or no pay. And made my enjoyment where I could find it. But I dont have to live that way now, so I wont. But I dont need life on the high hog like the article above either.

there has to be a third way.

atush

westv wrote: »

Would I be correct in saying that anybody can start phased retirement once they reach 55 as long as their employer agrees?

Sure if your employer agrees, but will they? Younger workers can be cheaper. And many employer refuse to let you work part time.

It could depend on the type of work pension too.

AlwaysLearnin

atush wrote: »

there has to be a third way.

I think it's called "the happy medium" isn't it?

What that is will obviously vary from person to person of course.

I personally believe that it's about finding the balance that's right for you (and your partner, where relevant). To that end I've recently reduced my hours to 3.5 days a week (mixed office and home) to get a better work/life balance. I made the decision in the full knowledge that the reduction in income will extend my time at work, therefore less of the 'sprint to financial independence' that some people advocate, but it should make that time a lot more enjoyable. I'm only in my early 40's anyway, so (hopefully) plenty of time yet...