Early-retirement wannabe

crv1963

OMG - I agree with you, sat on a long drive to work, then at a desk, in a meeting or in some other venue then the drive home...... we spend an awful amount of work time sat somewhere!


I try to walk 12000 steps a day but some days that simply isn't possible partly due to daylight/ weather/ time but I think his message was to me be careful that you don't retire and become an armchair athlete. That work even an unhappy, stressful workplace provides structure, purpose, socialisation and income - and that if you can't hack the place get out into something else until you have a plan that meets those needs, then you retire to something rather than from something.


I'm a bit late to the game so to speak of retirement planning only looked at it seriously in the last year or so always thought my DB at half my salary would be enough, which it would if we simply watched tv, had the odd holiday and pottered about a bit in the car, met a few friends for a pint and did a bit of gardening.


What he opened my eyes to was getting enough to afford to live a life as opposed to just living, it's not just the life but the quality of the life that counts. I think most people that post on here and elsewhere on this site have grasped that, but as a percentage of the population it is a very, very tiny number.


I never cease to be amazed at hearing people say "I'm putting my 2% into my pension with auto-enrolment so I'll be ok" I want to scream at them "but your in your 40s you need to put much more in!". At least my wife knows her existing provision will probably only pay enough to buy a pint of milk every couple of days, so is happy to save outside that particular scheme and we're planning for her private pension provision as additional income while we use my DB to underpin the basic living costs.


I do know friends who have retired and don't have enough hours in the day because they are living life to the full so although I may sound gloomy at times I do have and hold a balanced view.

ams25

crv1963 wrote: »

The Consultants rationale was really quite simple lots of people retire earlier at 55 and find that they either haven't budgeted properly so don't have the money to do all their plans, so end up going back into the workplace or they do more sedate activities than when rushing around at work so they become less physically fit- more so men than women.

maybe your consultant has a point in many cases...but I think those that plan for early retirement, especially from a stressful job, with their eyes open and ensure sufficient funds and have plans for their time are reducing not increasing their risk.

As I approach 2 years early retired (now 53) I am getting fitter (going to the gym much more than in recent years), have way less stress, keep busy and yet still dont have the time to do all things I would like. Like OMG says, sometimes its just great to have a relaxing pressure free day...but still they are relatively few and I am still working out how to make the best of the many years (I hope) ahead.

Not for one minute have I thought i should I have worked longer or have I missed the the workplace. But we are all different....

gadgetmind

Maybe said consultant could join me on the 100 mile cycles in the Yorkshire Dales that I now have time for? But it's true that those who don't have a "put in a penny, get a pound for life" pension paid for by <fill in the blanks> do have to plan carefully.

Marine_life

Caught up on reading the thread - lots of plans, lots of discussions - all interesting reading!

I've been largely back at work now for around four months working on a special project. To be honest, I am really enjoying it - my escape was to get away from the role as I was in and now I am in a new and interesting role with no pressure I am really enjoying it.

I'm now coming to the end of (what was supposed to be) my pre-retirement wind-down year and I have been asked to sign up for another 3-4 years specifically to manage a major development project as well as some other things that interest me like training. Its such a break from my previous role that I suspect I am going to do it. Three years would take me to 56.

At the moment it feels like the right thing to do - I have read and spoken to a lot of retirees and quite honestly I am worried that I will be simply bored. Sure I could do more exercise (but would likely get injured!) or develop some hobbies but I......I just don't have the burning desire to do that.

I feel like a bit of a fraud but this is a topic that Monevator explored quite recently - having achieved FI, the fact that I can walk away at any moment just removes the urgency to RE.

We have however stumbled across a problem. With our current income and spending, we may need to start considering inheritance tax planning! It will be very difficult to change the habits from the last few years but I think we will need to begin loosening the purse strings!

MallyGirl

Nice problem to have!

OldMusicGuy

Marine_life wrote: »

At the moment it feels like the right thing to do - I have read and spoken to a lot of retirees and quite honestly I am worried that I will be simply bored. Sure I could do more exercise (but would likely get injured!) or develop some hobbies but I......I just don't have the burning desire to do that.

Two thoughts on this. First, it sounds like work is still important to you. Work has always been a means to an end for me, although I realise in recent years I became too convinced of my own self-importance. I never set out in life to be an "executive", I always wanted to be a musician. But work kind of took over and my wife pointed out recently that she was increasingly feeling sidelined, because she isn't a corporate type and felt she didn't really fit with my world. Since retiring and dropping all pretence at being a corporate wonk, my wife feels she has got me back. I love the lack of deadlines and pressure, and I am so much more relaxed.

I am probably the opposite to you. I have so many hobbies and interests outside work that filling time was never going to be an issue. It hasn't been either, I simply don't have enough time.

So if work is still important to you (and there's nothing wrong with that btw, it's important to realise what work means to you), then I can see it may be tough to make such a big switch. Thus easing in to it and picking and choosing what you do may be the way to go. One of my ex-colleagues "retired" but started a "lifestyle" business in which he does as much as he wants when he wants and he will only stop when health forces him to. My BiL runs his own business and doesn't ever want to fully retire, because the business is such an important part of his life.

The second thing is age. You are still quite young. I didn't have any thoughts of retiring prior to 55. However, I found after 55 that the pressure of work and travel really got to me in ways that it never had when I was in my early 50s. I really started to see my health suffering. It was age 58 that I realised I couldn't cope with the pressure any more. So maybe it makes sense to continue until you are 56 and see how you feel then.

Like you said, you are FI which gives you the freedom to make choices. That's surely a good place to be.

kidmugsy

crv1963 wrote: »

Now it's salads and no added salt to my lunches. Hardest thing to stop was crisps!

I agree about the crisps: I find the furrowed ones from Tyrrell's particularly good.

I ignore all generalisations about salt in the diet: if I am a special case who needs to cut down I expect to be told so. Otherwise I'll use as much salt as I choose (which happens not to be not an awful lot anyway) knowing that unless I'm pretty unusual my system automatically arranges that any surplus salt leaves my body in my pee.

It's well worth looking around on the internet to see just how thin the evidence is for many fashionable generalisations about diet. And not just thin, often entirely wrong-headed.

atush

Marine_life wrote: »

Caught up on reading the thread - lots of plans, lots of discussions - all interesting reading!

I've been largely back at work now for around four months working on a special project. To be honest, I am really enjoying it - my escape was to get away from the role as I was in and now I am in a new and interesting role with no pressure I am really enjoying it.

I'm now coming to the end of (what was supposed to be) my pre-retirement wind-down year and I have been asked to sign up for another 3-4 years specifically to manage a major development project as well as some other things that interest me like training. Its such a break from my previous role that I suspect I am going to do it. Three years would take me to 56.

At the moment it feels like the right thing to do - I have read and spoken to a lot of retirees and quite honestly I am worried that I will be simply bored. Sure I could do more exercise (but would likely get injured!) or develop some hobbies but I......I just don't have the burning desire to do that.

I feel like a bit of a fraud but this is a topic that Monevator explored quite recently - having achieved FI, the fact that I can walk away at any moment just removes the urgency to RE.

We have however stumbled across a problem. With our current income and spending, we may need to start considering inheritance tax planning! It will be very difficult to change the habits from the last few years but I think we will need to begin loosening the purse strings!

I always felt that your prev job was too stressful, but you were too young to go. And that has proved true in your case.

MY OH was full on for retiring a few years back, but likes his new role so was happy working another year or so.

but will still retire well before SPA.

atush

kidmugsy wrote: »

I agree about the crisps: I find the furrowed ones from Tyrrell's particularly good.

I ignore all generalisations about salt in the diet: if I am a special case who needs to cut down I expect to be told so. Otherwise I'll use as much salt as I choose (which happens not to be not an awful lot anyway) knowing that unless I'm pretty unusual my system automatically arranges that any surplus salt leaves my body in my pee.

It's well worth looking around on the internet to see just how thin the evidence is for many fashionable generalisations about diet. And not just thin, often entirely wrong-headed.

i cook fresh so easy to keep salt low. I enjoy a packet of (plain) crsps now and agin and its no problem.

2 things I need salt on. Eggs and spuds.

crv1963

atush wrote: »

i cook fresh so easy to keep salt low. I enjoy a packet of (plain) crsps now and agin and its no problem.

2 things I need salt on. Eggs and spuds.

Like everything it is moderation that is what is called for, I have to have salt on chips! The advice was to eat what I like but if it is knowingly unhealthy then cut the amount down not out altogether. 6 bags of crisps a day is unhealthy, as is eating lunch at the work desk daily, every now and then ok.


Good for you MarineLife, if going back into the workplace is what you want, at least you now have a choice and can call it a day when you want, which must make a big psychological difference.