Early-retirement wannabe

Terron

It is 5 years since I was given the push from my IT job. I was expecting it to come some time so had been saving a lot. I could have retired then and lived frugally off my savings until my pensions kicked in. Instaead I put much of my savings into BTL Providing my an average income, which will continue as my pensions start next year. So instead of having to be frugal I can now start to spend a bit. I am having trouble changing my habits though. I have all my properties fully managed by agents so though technically I am working it doesn't feel like it.

coyrls

Marine_life wrote: »

Any regrets I might have mostly relate to the past, and particularly not spending enough time with the children. I don't have any 'current' regrets i.e. about things I might be missing out on now.

But that's the nature of regrets: they do relate to the past. Any regrets you have about your current decisions will come in the future.

gallygirl

MallyGirl wrote: »

It depends on if he likes wildlife.
We have just got back from the most incredible holiday in Canada - Vancouver Island and then a floating lodge on a tiny island between Vancouver Island and the mainland, nestled in The Great Bear Rainforest. By the end we had seen many bears (black and grizzly), bear cubs, whales (grey and humpback), Orca, dolphins, porpoises, seals, sea lions, sea otters, bald eagles, plus a river otter, a mink and a raccoon! We saw fresh wolf prints but never the animal. There was a cougar on the island but we never saw him either.
We also walked through temperate rainforest comprising trees aged in the many hundreds to over a thousand years. We bathed under a hot spring waterfall.
It was heaven and I would go back tomorrow if I could.
We also love NZ and Tanzania inc Zanzibar. We have had 3 fab holidays in Oman in recent years because we had friends living there.
Retirement is all about the travel for me.

MallyGirl (great name btw :rotfl:) did you organise the trip yourself to Canada or was it via a company? Would you mind if I PM'd you for details, it sounds wonderful.

MallyGirl

I sorted the itinerary myself although we ended up going through Kuoni to book - we had a poorly family member at the time and the idea of someone having to deal with cancellations if necessary was attractive. Thankfully it was not needed.
When we go back I will do it all myself.
Feel free to PM - I could wax lyrical about this holiday for some time

gfplux

DairyQueen wrote: »

Mr DQ took lifetime protection in 2016 so hasn't been able to contribute to a pension since.

Funny you should mention 'spending it'. I have spent a goodly amount of today modelling household income from now until age 85. Mr DQ will be 'comfortable' regardless of whether he survives me (likely) so I think now may be as good a time as any to start drawing down. At this rate we'll be amongst those unfortunate people who have spent their lives saving and never have the chance to spend it.

Perhaps I should give Mr DQ a not-subtle hint on how to manage drawdown?

He likes to travel but no surprises that his idea of 'a dream holiday' afloat doesn't include sailing down to the Med (my holiday heaven). So let's pretend that I have a budget of £40k to spend on a special 'show Mr DQ the advantages of retirement' holiday.

It needs to be good weather and of sufficient duration/interest to distract him from his focus on work.

Suggestions anyone?

My suggestion is take the £40k and spend it on yourself. Perhaps you need a trip to show yourself what life can be like while Mr DQ keeps on working building up a further £40k ready for your return.

atush

Terron wrote: »

It is 5 years since I was given the push from my IT job. I was expecting it to come some time so had been saving a lot. I could have retired then and lived frugally off my savings until my pensions kicked in. Instaead I put much of my savings into BTL Providing my an average income, which will continue as my pensions start next year. So instead of having to be frugal I can now start to spend a bit. I am having trouble changing my habits though. I have all my properties fully managed by agents so though technically I am working it doesn't feel like it.

All good but maybe you werent caught by the higher stamp duty and lower deductions for costs? Ie the newer harsh tax levels?

If it happened to you today it might not have beeen the best idea/

DairyQueen

Thanks for all the great ideas folks.

Perhaps I need to plan a few trips.

First on the list may be a return trip to the Mojave. I spent an amazing few weeks travelling across six south western states and the highlight for me was the couple of days at the desert research centre. The biggest and clearest skies. The amazement of seeing hundreds of scorpions hidden at night but for the ultraviolet light we used (they fluoresce). Small possibility of being stung unless you left shoes on the floor overnight.

Then a couple of days on the Navaho Nation. A magical place.

This would be an entirely new experience for Mr DQ.

I also fancy taking the Amtrak across the Rockies. Maybe Canada, maybe the US.

So many places, so little time.

Triumph13

DairyQueen wrote: »

He likes to travel but no surprises that his idea of 'a dream holiday' afloat doesn't include sailing down to the Med (my holiday heaven). So let's pretend that I have a budget of £40k to spend on a special 'show Mr DQ the advantages of retirement' holiday.

It needs to be good weather and of sufficient duration/interest to distract him from his focus on work.

Suggestions anyone?

You might need to tread very carefully with that idea as it could backfire. If you blow a major sum of money on a holiday and he loves it, he may decide he needs to keep working to be able to afford to keep on blowing big sums on 'special' holidays.
An alternative might be to plan an extended period of 'slow travel' where you can explain the wonderful itinerary to him then drop the bombshell that you would be able to pay for it just from your normal retirement spending.

greenglide

And what if he finds it absolutely dreadful? What if it all goes dreadfully wrong and you find it dreadful?


My wife and I spent a fortnight visiting the east of America (New York, Montreal, Ottawa, Toronto, Niagara and Washington) and another fortnight visiting the west coast (Las Vegas, Grand Canyon, Yosemite etc). These were amazing times but these were in the 80s when we were young and neither of us would consider repeating them now.



Crucially repeating such times may be an utter disappointment. There is still much of Europe still to explore!

JoeEngland

DairyQueen wrote: »

Thanks for all the great ideas folks.

Perhaps I need to plan a few trips.

First on the list may be a return trip to the Mojave. I spent an amazing few weeks travelling across six south western states and the highlight for me was the couple of days at the desert research centre. The biggest and clearest skies. The amazement of seeing hundreds of scorpions hidden at night but for the ultraviolet light we used (they fluoresce). Small possibility of being stung unless you left shoes on the floor overnight.

Then a couple of days on the Navaho Nation. A magical place.

This would be an entirely new experience for Mr DQ.

I also fancy taking the Amtrak across the Rockies. Maybe Canada, maybe the US.

So many places, so little time.

Definitely little time if working rather than being retired!