Early-retirement wannabe

AnotherJoe

Marine_life wrote: »

Generally I agree however for me its part of a package. We have an early retirement scheme which starts at 56 and an early early retirement scheme which starts at 54. As I'm 52 they weren't prepared to give me that so taking a one-day a week contract was a way to bridge to early early retirement. Its a fantastic package.

Actually the one day a week is not so bad as essentially its 25% spread in anyway that works over the year so it could be three days one week then nothing for the next two. Totally flexible. I imagine myself ringing an imaginary bell in any event i.e. once the 25% is booked "ding, ding" times up

The only person in my organisation I've seen make part time work, work, was someone who did precisely that. Although notionally he worked 3 days a week, what he actually did was work on projects, so he might work a normal week for 12 weeks, then when that project finished he'd have 8 weeks off. he did that for a bit under 2 years.

Mostly in my job part time work, doesn't, because its very disruptive to clients and colleagues, eg clients cant be expected to know that "AJ doesn't work Thursdays and Fridays" so they call someone else when they get your answerphone, and colleagues have to carry the load (eg Fred ends up fielding AJ's calls for however many days a week AJ isnt working) , and also for colleagues you expect them to work around you "OK you six may all be able to free up time next Thursday for that important meeting with the customer but I wont be".

paulpud

justme111 wrote: »

I suppose if work does not continue bringing you down after 5 pm that is not that bad and you can dedicate free time to something enjoyable.
You wife would be happy with 2/3ds or half of what you would like to have in your pot , would she ?

She quite actively encourages me when we talk of retirement - she's 6 years older and most definitely ready for it! We're both pretty level headed and talk about our situation a lot. She knows I wouldn't knowingly do anything that might lead to a future financial struggle so I think would be happy to follow my lead.

Despite my work-related frustrations I still have to consider myself fortunate to have a secure job that pays well as I know there are a lot of people working for a pittance that hate their jobs, and I guess that is what keeps me there.

Marine_life wrote: »

I think the issue is not necesarily whether they would allow you in, its a question of (free) access to healthcare and whether your pension rights would remain unchanged (e.g. those pensioners in Australia do not get COL increases on their uk pensions).

The way the discussions are going at the moment it seems like you might already be too late as the UK government is only talking about rights being available for those who were already overseas on the date Article 50 was triggered.

I have looked into healthcare as I wouldn't want to be too reliant on the reciprocal agreement even if it were maintained for people in our situation. Quite a few expats pay for an all-in insurance that covers buildings/contents, visits to their GP, dentist and hospital cover all for a few hundred euros per year and we'd probably do the same.

I think as far as our state pensions are concerned it's a case of hoping for the best as it wouldn't scupper our plans but it would certainly have an impact. I'm also hoping that the attractive 10 year tax break that is currently available remains in place as well, although that is an agreement that I think is directly between the Portuguese and UK governments.

Marine_life

paulpud wrote: »

Quite a few expats pay for an all-in insurance that covers buildings/contents, visits to their GP, dentist and hospital cover all for a few hundred euros per year

That sounds too good to be true and if it sounds too good to be true....

AnotherJoe

paulpud wrote: »

I have looked into healthcare as I wouldn't want to be too reliant on the reciprocal agreement even if it were maintained for people in our situation. Quite a few expats pay for an all-in insurance that covers buildings/contents, visits to their GP, dentist and hospital cover all for a few hundred euros per year and we'd probably do the same.
.

I'd like to see an example of one of those. One of my friends in early 60's has been quoted for well in excess of £1k a month just for private health care for a couple.

Workerbee999

I know this can be a huge range in reality, but I was just wondering what sort of growth assumptions people use when trying to predict eventual pot sizes? Especially when comparing against the lifetime limit which would mean inflation needs to be included, unless the limit will definitely start to increase with CPI or some other imflation calculation at some point in the future?

paulpud

AnotherJoe wrote: »

I'd like to see an example of one of those. One of my friends in early 60's has been quoted for well in excess of £1k a month just for private health care for a couple.

The only info I have is given to me by a couple of expats that I'm in contact with, based on what they tell me they currently pay. I would expect a troubled medical history might prove more expensive.

The cheapest is the chap who has the all-in solution I mentioned for which he pays 90 euros pcm. The downside is it does have a cap of 15,000 euros for any one hospital in-patient event, and he buys this through his bank.

Another expat I chat with pays 1231 euros per year in advance, rising to 1570 euros from age 66, and this one is capped at 100,000 euros in-patient, 3,500 euros out-patient and also covers most dental work. She buys this through Allianz.

You also have to pay 5 euros to see a GP and prescription medicines are charged at their value, so can be expensive if it's not basic medication, although life-dependent drugs are subsidised.

atush

You also have to pay 5 euros to see a GP and prescription medicines are charged at their value,

I see this as a possible out re the NHS.

Other socialist countries dont have a problem with it, so dont see why we cant do it too. And I would presume charges would be means tested for those on benefits.

I certainly would have no problem paying a fiver to see the doctor.

gfplux

Marine_life wrote: »

I think the issue is not necesarily whether they would allow you in, its a question of (free) access to healthcare and whether your pension rights would remain unchanged (e.g. those pensioners in Australia do not get COL increases on their uk pensions).

The way the discussions are going at the moment it seems like you might already be too late as the UK government is only talking about rights being available for those who were already overseas on the date Article 50 was triggered.

Mrs May seem to say in her speech last night in Brussels that the cut off date will be March 2019.
She appeared to confirm this during her press conference in Brussels today at 15.00 CET in a reply to a question from the BBC. (I think it was from Laura Kuenssberg)

gfplux

Marine_life wrote: »

That sounds too good to be true and if it sounds too good to be true....

Too good to be true.

Marine_life

paulpud wrote: »

The cheapest is the chap who has the all-in solution I mentioned for which he pays 90 euros pcm.

I would love to know who he's getting that cover from and whether its really all inclusive.