Early-retirement wannabe

Terron

lco199 wrote: »

Yeah, I can appreciate that. There'd also be savings in rail travel on the other hand I guess. Can't say for sure whether I'd be spending more or less, but realistically I'd like to have the opportunity to spend more.

Pretty confident at the moment that if I can get my savings up to £250k+ by age 50 I should be fine to live off that for 10-15 years before needing to start drawing on pensions. Fingers crossed anyway!

That sounds fine. I was just saying that based on actual experience £10k pa was too little for me. £18k pa was more than enough

MartynC

gadgetmind wrote: »

Soddit, just emptied ISAs that we've been working on for 25+ years to provide inlaws with a bridging loan after their house sale fell though. It sodding well better be back in there by April 5th!

This cruise to retirement is proving to have some rapids!

Hi,
I have an investment ISA with Best Invest which invested in several Global ETFs.
I did not know you could take most of it out as cash for emergencies and put it back before 5th April and keep the Tax Free status
MartynC

Snakey

crv1963 wrote: »

..an interesting point we discussed on my course was "if you don't like work you'll dislike retirement".

Is this another way of saying "wherever you go, there you are" or was there more to it than that?

crv1963

Snakey wrote: »

Is this another way of saying "wherever you go, there you are" or was there more to it than that?

No that was about it, namely if you are unhappy working why would you think you'll be any happier not working? Basically the message was to make sure you had interests and felt able to do things or you ran the risk of remaining miserable!

westv

crv1963 wrote: »

Basically the message was to make sure you had interests and felt able to do things or you ran the risk of remaining miserable!

I would have thought that was obvious.

ermine

MartynC wrote: »

I did not know you could take most of it out as cash for emergencies and put it back before 5th April and keep the Tax Free status

You can if and only if it is a Flexible ISA, which depends on the provider. My Charles Stanley ISA is, and I borrowed from it this year also to bridge a house sale. My TDDirect ISA isn't so I couldn't do that.

crv1963

westv wrote: »

I would have thought that was obvious.

It probably is if you think about it and your inner happiness but if you haven't thought about what you want retirement to look like for you it may not be obvious to you.


It also was acknowledged that sometimes retirement is a key to unlocking happiness from the workplace, the discussion was about how to make you think about yourself as an individual without a definition as in many- most? are defined by their roles (job title, father, son, husband etc) as it is easy to then take the title and role of retired thereby opting out of trying anything new- a common problem that can lead to just sitting around!


We had to the define how we would like our retirement to look like for us taking into account all aspects of life- financial, relationships, roles and spirituality needs (in the broadest sense not necessarily religious needs).


Many sort the finances but not the other aspects I retire wife works and earns more a reversal of our lifetime of marriage for example, how does that make me feel, how does it affect our relationship and what do we need to discuss?


CRV

Marine_life

Already on Day 8 of our roadtrip:

http://earlyretirefree.com/day-8-zion-national-park-to-death-valley/

Early Retirement rocks!

gallygirl

Marine_life wrote: »

Already on Day 8 of our roadtrip:

http://earlyretirefree.com/day-8-zion-national-park-to-death-valley/

Early Retirement rocks!

Em, yes, we sort of told you that :rotfl::rotfl::rotfl:.

OldMusicGuy

crv1963 wrote: »

It probably is if you think about it and your inner happiness but if you haven't thought about what you want retirement to look like for you it may not be obvious to you.

Well said, and excellent post. I had not thought seriously about retirement until about 2 years ago. Yes, I had addressed the financial side of things some years previously and was building up a good DC pot, but my mindset was very much the "one more year" - keep plugging away and saving and then probably at some point I will retire, probably mid sixties just before SP age of 66. I hadn't thought much about why I was retiring, I just knew I would.

Two years ago, a combination of my increasing age (struggling to deal with travel and stress) and a massive increase in workload causing a near breakdown made me question things. My wife also made me take a step back and look at what I had become, a corporate wonk that was too addicted to the status of a well paid professional job. Hence a deep look at what I wanted to do with my remaining life and the decision to retire at a specific date as soon as practical rather than just carry on aimlessly with the OMY mindset. My wife's support and counsel was important because this was a joint decision.