Early-retirement wannabe

inflationbuster

AlanP wrote: »

How reliable is the commercial rent income if the UK economy tanks?

It's been surprisingly robust through the dot com and sub-prime recessions. Two months of half rent since 1998 is the worst I've suffered.

tyronealan

Best reasons to retire early? I am 56 a teacher of 34 years and chance of redundancy and early retirement has come up.
What are the thoughts, the pluses and negatives to retiring early? Please be honest or point me to posts for objectivity.

OldMusicGuy

Best reasons to retire early (if late 50s):
- Health. You need to stay fit and healthy if you want to enjoy a fruitful later life. This takes time and effort, and a busy work life doesn't allow it.
- Lack of stress. Stress is bad for you and it only gets worse as you get older (see above point).
- Enjoy 10 to 20 years of active life doing different things than you have done for the last 34 years (in your case). Once you get to 80 plus you will have to slow down a bit....
- Spend quality time with your partner/family/friends /pets or even just yourself.
- Read all those books you never had time to read.
- Visit all those museums you never had time to visit.
- Visit all those places in the world/the UK you never had time to visit.
- Do all those hobbies you never had enough time for.

Reasons not to retire:
- You define your life and your sense of self-worth by your work.
- Money (lack thereof).

Hope that helps!

gallygirl

tyronealan, I agree with OMG - very few downsides. Another big plus is getting your Sundays back - no 'creeping dread' as the evening approaches and another week beckons. Even if you love your job I'll bet a part of you becomes disengaged with the weekend and starts focusing on the week ahead.

Go for it (assuming the numbers work, but I assume you wouldn't be posting if they didn't).

enthusiasticsaver

I would take up the option so long as you can afford to. I retired at 57 and it is great especially not having to commute in the bad weather. Housework, shopping etc is done leisurely rather than in between working days. I have time to enjoy hobbies and socialise with friends and am exercising more and enjoying it because it does not feel like a chore.

gadgetmind

TBH dropping to a four day week made a huge difference to me so consider part time rather than a dead stop.

ams25

tyronealan wrote: »

Best reasons to retire early? I am 56 a teacher of 34 years and chance of redundancy and early retirement has come up.
What are the thoughts, the pluses and negatives to retiring early? Please be honest or point me to posts for objectivity.

good list from OMG. But this is a very personal thing so if the financials work you have to imagine your life without work. What would you do that you can't do now, what might a typical week look like, what would you miss and not miss about work. What's holding you back?

I left when a redundancy option came up and in the end happened quite quickly. But after many years of enjoying work (often too much) I'd become jaded and/or burned out and leaving just felt right (I knew the numbers should work) and I have not looked back.

As a teacher you could have the option of tutoring to add additional funds/purpose if needed.

Good luck.

Terron

gadgetmind wrote: »

Pushed back a year to April 2019 but what a cracking bargain it was while it lasted.

I am looking at paying them for a year to max out my SP.

atush

gadgetmind wrote: »

Yeah, but we also did it all at Christmas!

I haven't done much fish yet mainly because I'm pretty wicked at pan frying fish. What do you do with it? Salmon?

I now have a proper wand but started with a deep fat fryer and a home made (3D printed) external thermostat.

My son does Salmon all the time ( I dont like pink fish- although i like tuna). We did Cod the other night. Had a really nice texture. I have done pork shoulder for pulled pork, a prime rib of beef, steak, and some asian chicken thighs. going to try checken breasts soon. Bit of a faff, so dot use it much in the week.

tyronealan

OldMusicGuy wrote: »

Best reasons to retire early (if late 50s):
- Health. You need to stay fit and healthy if you want to enjoy a fruitful later life. This takes time and effort, and a busy work life doesn't allow it.
- Lack of stress. Stress is bad for you and it only gets worse as you get older (see above point).
- Enjoy 10 to 20 years of active life doing different things than you have done for the last 34 years (in your case). Once you get to 80 plus you will have to slow down a bit....
- Spend quality time with your partner/family/friends /pets or even just yourself.
- Read all those books you never had time to read.
- Visit all those museums you never had time to visit.
- Visit all those places in the world/the UK you never had time to visit.
- Do all those hobbies you never had enough time for.

Reasons not to retire:
- You define your life and your sense of self-worth by your work.
- Money (lack thereof).

Hope that helps!

great list and a lot of my own thoughts, money may be tight for a while but subbing could help out. The Sunday night thoughts would make me give up tomorrow. I'll keep looking at all your posts but feel its time to move on!! Thanks again. will keep you all posted.