Early-retirement wannabe

OldMusicGuy

Well, first day of retirement for me. Got bought a cup of tea in bed and then had a leisurely bath listening to "In Our Time" on Radio 4. So far so good....... ;-)

To save everyone re-reading the thread, I am 60 and have retired a bit early. I was planning to carry on to 64 as had I done that we would have had no money worries and be able to live a pretty reasonable lifestyle (we both hit SP age at 66). However, due to increasing pressure of work, stress and the impact on my health, I decided to go earlier than planned. It will mean trimming our expenses a lot but both my wife and I are keen to adopt a more sustainable lifestyle with less money spent on "stuff". So we see this as a good thing and having those extra four years while I am still fit and healthy is (hopefully) worth a lot more to us than more money in the bank.

I do not have any plans to work. I have turned down all such opportunities and want to focus on enjoying this new phase of my life.

As my wife said, it will be a big change, because all my life I have either been at school, university or working. I've never been unemployed and never taken any extended time off to go travelling or similar. So stay tuned and we will see how it goes.

Wednesday2000

OldMusicGuy wrote: »

Well, first day of retirement for me. Got bought a cup of tea in bed and then had a leisurely bath listening to "In Our Time" on Radio 4. So far so good....... ;-)

Congrats!:)

Bravepants

OldMusicGuy wrote: »

Well, first day of retirement for me. Got bought a cup of tea in bed and then had a leisurely bath listening to "In Our Time" on Radio 4. So far so good....... ;-)

To save everyone re-reading the thread, I am 60 and have retired a bit early. I was planning to carry on to 64 as had I done that we would have had no money worries and be able to live a pretty reasonable lifestyle (we both hit SP age at 66). However, due to increasing pressure of work, stress and the impact on my health, I decided to go earlier than planned. It will mean trimming our expenses a lot but both my wife and I are keen to adopt a more sustainable lifestyle with less money spent on "stuff". So we see this as a good thing and having those extra four years while I am still fit and healthy is (hopefully) worth a lot more to us than more money in the bank.

I do not have any plans to work. I have turned down all such opportunities and want to focus on enjoying this new phase of my life.

As my wife said, it will be a big change, because all my life I have either been at school, university or working. I've never been unemployed and never taken any extended time off to go travelling or similar. So stay tuned and we will see how it goes.

Sounds great! I'm 50 this year and hoping/planning to go at 55, so currently saving half my salary, paying added pension and about to transfer AVCs to SIPP mostly held as cash. My partner is 5 years younger than me and she may well end up working for a number of years after I quit, she needs to sort out her private pensions etc. but she has investments.


As far as my income is concerned from 55 I should be able to bring in the same take home but less the money I'm piling away...so in effect no change to what I bring in now!


I hope it goes well for you, and I plant to stay tuned!

Anonymous101

As you say big change but hopefully a great opportunity to spend more time on yourself and your own interests.

Congratulations on taking the leap! :money:

atush

Congrats OMG

itm2

OldMusicGuy wrote: »

Well, first day of retirement for me. Got bought a cup of tea in bed and then had a leisurely bath listening to "In Our Time" on Radio 4. So far so good....... ;-)

To save everyone re-reading the thread, I am 60 and have retired a bit early. I was planning to carry on to 64 as had I done that we would have had no money worries and be able to live a pretty reasonable lifestyle (we both hit SP age at 66). However, due to increasing pressure of work, stress and the impact on my health, I decided to go earlier than planned. It will mean trimming our expenses a lot but both my wife and I are keen to adopt a more sustainable lifestyle with less money spent on "stuff". So we see this as a good thing and having those extra four years while I am still fit and healthy is (hopefully) worth a lot more to us than more money in the bank.

I do not have any plans to work. I have turned down all such opportunities and want to focus on enjoying this new phase of my life.

As my wife said, it will be a big change, because all my life I have either been at school, university or working. I've never been unemployed and never taken any extended time off to go travelling or similar. So stay tuned and we will see how it goes.

Great decision. Congratulations!:T

DancingBadger

Congratulations, OMG, and best wishes for a long happy and healthy retirement. :beer:

You wouldn't be human if you didn't feel smug in your nice warm bed while the rest of the world struggled to get to work in this horrible weather.

gfplux

OldMusicGuy wrote: »

Well, first day of retirement for me. Got bought a cup of tea in bed and then had a leisurely bath listening to "In Our Time" on Radio 4. So far so good....... ;-)

To save everyone re-reading the thread, I am 60 and have retired a bit early. I was planning to carry on to 64 as had I done that we would have had no money worries and be able to live a pretty reasonable lifestyle (we both hit SP age at 66). However, due to increasing pressure of work, stress and the impact on my health, I decided to go earlier than planned. It will mean trimming our expenses a lot but both my wife and I are keen to adopt a more sustainable lifestyle with less money spent on "stuff". So we see this as a good thing and having those extra four years while I am still fit and healthy is (hopefully) worth a lot more to us than more money in the bank.

I do not have any plans to work. I have turned down all such opportunities and want to focus on enjoying this new phase of my life.

As my wife said, it will be a big change, because all my life I have either been at school, university or working. I've never been unemployed and never taken any extended time off to go travelling or similar. So stay tuned and we will see how it goes.

Being healthy in retirement is worth a lot of money.

OldMusicGuy

gfplux wrote: »

Being healthy in retirement is worth a lot of money.

Agree, this is one of the big factors for me. It takes time and effort to stay fit and healthy, especially when you are older. A high pressure job with lots of travel is definitely not conducive to staying fit and healthy in your late 50s/early 60s.

Broadsword

Being healthy in retirement is the most important factor. The leisurely lifestyle, hones and exotic holidays are dependent on it. Keeping fit is however but one factor. With the huge increases in cancer in later years, it is not all about an earlier healthy eating/drinking or fit lifestyle. I did not retire early but gradually sloweden though work was enjoyable. We took the holidays we had dreamed about and generally led a balanced lifestyle no excesses. Then just before another long haul holiday in 2016, I was struck down by what was thought to be a stroke but was diagnosed with the most aggressive brain cancer, a glioblastoma, a cancer with no known cause and affecting 2200 a year here in the U.K. It is known as the Terminator and sufferers include Tessa Jowell and John McCain currently. It killed Paul Daniels and Teddy Kennedy.The prognosis is always very poor, a disease that peaks at 60. Against all odds, after much unpleasant treatment, I am still alive but wth an adjusted lifestyle. Every day is a bonus.

The moral of the tale is that you can often adjust for most things but retirement has huge unknowns. Live life for the day and don!!!8217;t simply bank on spending those pensions on a long and fruitful retirement. The unexpected can and does happen