Early-retirement wannabe

tigerspill

kidmugsy wrote: »

It's called the Greater Fool Theory in the investment literature.

Not sure I understand?
I bought neither as investments. It's just the way it has turned out.

Chickereeeee

marlot wrote: »

.....I'm putting in my pension forms today, for retirement at Christmas..

Preparation:

• Bought a puppy back in Feb, who is now ready to start going on long walks......

To each his own and all that, but seems odd (to me) to finally get almost unlimited freedom, but then immediately restrict that freedom with a dog.


For most people, I would have respectfully suggested a couple of years (at least) of full retirement before taking on such a commitment.


(Please don't take it the wrong way: you have your own reasons I am sure, but I am suggesting others might want to consider this)


K

tigerspill

Chickereeeee wrote: »

To each his own and all that, but seems odd (to me) to finally get almost unlimited freedom, but then immediately restrict that freedom with a dog.


For most people, I would have respectfully suggested a couple of years (at least) of full retirement before taking on such a commitment.


(Please don't take it the wrong way: you have your own reasons I am sure, but I am suggesting others might want to consider this)


K

Maybe for interest, a hobby, companionship, exercise etc. etc.?

bugslet

And I think it depends on if you are used to dogs. As marlot is, then s/he knows what they are letting themselves in for.

If they were novice dog owners, then it would make sense to see how retirement goes first.

I am thinking of getting another - three is not enough ( I once had 6), and I will possibly go back to volunteering with rescue dog transport and I may decide to do some ad hoc doggy day care.

I like dogs in case no-one had guessed:p

Terron

For short journeys any car will do me but for a long journey a bit of extra spending can make the journey more pleasant. I currently have am 11 year old MX5. I got it new as a company car and when the lease was up bought ir (for about £2k less than it was worth). I plan to replace it in the next year or two, probably with a new MX5.

TBC15

Bravepants wrote: »

Clarkson's Law states that any online discussion degenerates into a discussion about cars until at some point someone compares Audi drivers to the Nazis, or Hitler and his deeds, and the discussion ends.

Martin B was taking me to catch the Heinkel out of Tempelhof in his Audi Front UW220 . I told him I’d be back on the 27th and we should meet and have a snack and a pint in the Reichtag bar, he said he was fully booked that week, and the rest is history………I hope.

Marine_life

marlot wrote: »

I buy new or nearly new, and keep them for about 6-8 years. Longer if I like the car.

But coming back to topic. I'm putting in my pension forms today, for retirement at Christmas. I'll be 55.

Preparation:

• Bought a puppy back in Feb, who is now ready to start going on long walks
• Started volunteering one day a week a year ago - I can ramp this up as much as needed.
• Planning to drop in on my local 'men in sheds' and see if its for me
• Planning to drop in on some local ramblers groups to see if they are for me
• Have been gradually winding down at work, so it won't be a sudden transition.

Financial planning:

• Put large amounts of additional funding into my DC pension over the last 15 years
• Have tried to strike a sensible balance between saving and spending
• Prepared a cashflow forcast for retirement - allowed me to try different scenarios (eg. when to take each pension) and to see the effect of varying assumptions.

Edited to add: I suspect the biggest financial issue will be a mental one. Making the transition from being a 'saver' to being a 'spender' won't be easy. Especially when there is a niggling fear of running out of money.

Looks like a well thought through plan.

How uncomfortable the transition from saver to spender is will depend on three things:

1. What investment mix you need to maintain your planned withdrawal rate (and whether you can live with the ensuing volatility or lack thereof)
2. How much buffer there is in your spending plan.
3. How accurate your spending estimate is.

If you feel you can comfortably tick all three boxes then you are well positioned.

Good luck!

TBC15

Terron wrote: »

For short journeys any car will do me but for a long journey a bit of extra spending can make the journey more pleasant. I currently have am 11 year old MX5. I got it new as a company car and when the lease was up bought ir (for about £2k less than it was worth). I plan to replace it in the next year or two, probably with a new MX5.

RF looks fantastic from all angles, thinking about this myself while still capable of getting in and out.
Oh god…… I mentioned cars.

Chickereeeee

bugslet wrote: »

And I think it depends on if you are used to dogs. As marlot is, then s/he knows what they are letting themselves in for.

But, my point is, they are not used to retirement, and the freedom it (could) bring!

Chickereeeee

tigerspill wrote: »

Maybe for interest, a hobby, companionship, exercise etc. etc.?

I am sure, but you do not know what retirement will be like until you do it. Maybe you satisfy your needs in other ways, without the restrictions a dog brings.


Plenty of time (hopefully) to get one later, when you see how it is.


I like the 'Hey there is a £20 flight to somewhere, going in a couple of days time. Lets go!' approach, myself.



K