Early-retirement wannabe

vulcanrtb

This thread used to be fun and inspiring.

AlanP_2

gfplux wrote: »

Fully agree. AlanP should start a new thread on how to pay for public services and infrastructure.

No thanks, I spend enough time in meetings and conversations about it already.

Apologies, I had no intention on taking the thread off course, just responding to the points DQ made in her post and then follow ups as others chipped in.

westv

17 weeks until I've got another job or I say "Hi!" to more free time.

MallyGirl

DD got stonking GCSE results today so that makes the 5 or 6 yr degree a little bit more likely. We can't retire till she is through that as the contributions required from us are just so unknown at this point. Happy to have that problem.

We have a lot of equity in our house so that will be care home if we haven't liquidated it by then.

My mum described where she wants to move to when they can't manage their current property any more. It seemed to be some sort of manor house as a central hub with individual properties around, and a pool and a shop. I have no idea if such a thing exists but if it does then more power to her - no pockets in shrouds. Her husband is older and not very well so he is extremely unlikely to outlive her and she could not manage in the current house without him able to do this and that to keep it running

TBC15

Isn’t this thread going a bit off topic? Yes I understand the last few years will be a tribute to the NHS and a living hell for me but between retirement and those times shouldn’t there be some reason for going to work 24/7 ?

MallyGirl

Absolutely!

For me it will involve travel so the time between now and 60 will be spent doing some of that travel now and also building up enough funds in SIPP and ISAs to fund the gap before 67 and top up the shortfall from 67 onwards.

AnotherJoe

chiefie wrote: »

My dad had a reasonable annuity and state pension (prob equivalent to £35k p.a now). When he went into care the council took all of this and gave him £7 per week pocket money. They then said he still only qualified for the basic care home. So they treated him just the same as others who had no pension provision whatsoever. So saving in a pension does not protect from the care home lottery.

The council supported us in him needing nursing care but the nhs denied it as they didn’t want to contribute towards his fees. He died as a direct result of falling out of bed due to his conditions and lack of proper nursing care.

Anyway, back to care costs....,

They then said to get a better quality care home the family needed to top up the amount. Even the better ones were downright awful. We paid £500 a month between us to get him somewhere half decent. And that still smelled of wee and was staffed by underpaid and overworked people who were not in the role to care for people. They continually lost his glasses, his underwear, his clothes.

So we have this to look forward to eh ?

This is why Switzerland figures in my contingency plans.

JoeEngland

AnotherJoe wrote: »

This is why Switzerland figures in my contingency plans.

This page has some figures which are relevant to this subject:

https://www.mha.org.uk/news-and-views/policy-research1/facts-stats/

As an aside, my FIL literally dropped dead, and my MIL died in her sleep. Hopefully me and the missus will have a similarly good exit when our time comes, but regardless of what might happen in the distant future my plan is still to give up work in 2 years when I turn 54.

Spreadsheetman

AnotherJoe wrote: »

This is why Switzerland figures in my contingency plans.

Really, really don't count on it. My widowed father has gone from completely independent in his own home & driving his own car, to a care home via heart attack + acute heart failure + stroke within a 10 week period.

At no point would Switzerland have been an option. Thank God he has enough assets to make a choice of care homes an option and fortunate that his age and condition means he is extremely unlikely to outlive his money.

pricew1970

Spreadsheetman wrote: »

Really, really don't count on it. My widowed father has gone from completely independent in his own home & driving his own car, to a care home via heart attack + acute heart failure + stroke within a 10 week period.

At no point would Switzerland have been an option. Thank God he has enough assets to make a choice of care homes an option and fortunate that his age and condition means he is extremely unlikely to outlive his money.

That is so sad. I hope he is happy where he is .