Early-retirement wannabe

JoeEngland

Wednesday2000 wrote: »

Yes, we are too, we paid our mortgage off this year.:)

What age are you planning on retiring?

We wish we had thought about it much earlier as I've been together with my husband since I was 17. Getting married to the right person also helps. Getting divorced can be costly.:D

I'm planning to give up FT work soon after I turn 53. For financial reasons I previously planned to hold on till 55, but some progressing health issues have wrecked that plan. Mentally I'm ready to finish now!

Wednesday2000

JoeEngland wrote: »

I'm planning to give up FT work soon after I turn 53.

I think that is a good age. My husband was planning on 57 at first, then 55, but now we think he could retire at 52. He just turned 48 last month.

Triumph13

JoeEngland wrote: »

Good point about kids, they must add years to the age at which people with them can retire. Even if I was physically able to be working into my 60s I wouldn't want to, and thankfully that's possible as we don't have kids and are mortgage free.

It doesn't always have to have that much of an impact, for us it probably delayed us by 2 years so I retired at 52 rather than 50. Of course if we'd been the kind of people who insisted on putting their kids through private schools, dressing them in designer clothes etc then I'd be probably be looking at another decade or more.

DairyQueen

Triumph13 wrote: »

It doesn't always have to have that much of an impact, for us it probably delayed us by 2 years so I retired at 52 rather than 50. Of course if we'd been the kind of people who insisted on putting their kids through private schools, dressing them in designer clothes etc then I'd be probably be looking at another decade or more.

It's better that I don't try and calculate the financial cost of my stepdaughters. No question that they would have delayed their father's retirement for at least a decade if he was minded to retire early.

However, you can't put a price on family relationships, and the relationship that we have with my younger stepdaughter is priceless.

michaels

Our kids just have to manage with growing up poor, just as we did.

Aren't there financial advantages to being retired and living off capital when the kids are at uni anyway in terms of maxing out loans and access to bursaries? (We have even made sure there is a period of free school meals in our kids records as it may well help when it comes to positive discrimination uni selection policies)

Wednesday2000

DairyQueen wrote: »

However, you can't put a price on family relationships, and the relationship that we have with my younger stepdaughter is priceless.

Oh, I'm absolutely sure that is true.:A

It's just amusing to me how much the men at my husband's work complain about their kids.:rotfl: Apparently, some of them often say they are counting down the days until the kids are 18 and can leave home.

They will probably want money for deposits on their flats/houses so I doubt the financial burden will end at 18!

I'm very glad that I went on the pill at 14 years old.:cool:

agent69

Wednesday2000 wrote: »

I think that is a good age. My husband was planning on 57 at first, then 55, but now we think he could retire at 52. He just turned 48 last month.

I think a lot depends on what standard of living you're looking for in retirement.



I could have retired a couple of years ago, but I like to travel and decide that if I worked for another year I could upgrade all my holiday flights to business class. At the minute I'm just hanging on to see that 29th March doesn't bring disaster for the stock market, then I'll probably call it a day.

Wednesday2000

agent69 wrote: »

I think a lot depends on what standard of living you're looking for in retirement.

I could have retired a couple of years ago, but I like to travel and decide that if I worked for another year I could upgrade all my holiday flights to business class. At the minute I'm just hanging on to see that 29th March doesn't bring disaster for the stock market, then I'll probably call it a day.

I haven't travelled a lot in the past 15 or so years as I'm vegan and didn't want to cause a lot of environmental damage. But now I think we will do a lot more after we retire.:)

F*ck it, I'm 42 and haven't had children or grandchildren. The earth isn't my problem anymore.:rotfl: Other people don't seem to care so why should I?

Just kidding, well, half kidding.;)

Mr_Costcutter

Wednesday, my advice would be to travel whilst you have your health . So many of my friends had dreams of travelling far and wide once they had retired, only to find that either them or their partner just weren't well enough to do so when that time came. I'm just so glad that we were fortunate enough to be able to travel when we were young. Had we waited 'til now - it just would not have been possible. These days our travel plans (UK only) have to take account of ''where is the nearest hospital'' lol. Not a priority when young and fit

DairyQueen

agent69 wrote: »

At the minute I'm just hanging on to see that 29th March doesn't bring disaster for the stock market, then I'll probably call it a day.

Unless you are entirely invested in the UK (in which case you should shoot yourself or your IFA) then that's an unlikely outcome. The UK represents around 7% of the global market.

Having said that, any investment in FSTE 100 companies is likely to benefit from a drop in sterling. My portfolio gained 6% the day after the referendum. That's unlikely to repeat aa I am now more globally diversified.

The shifting tides of political events are opportunities - spoken as one who is heartily sick of hearing the doom-mongers waffle-on ad infinitum about how the sky will fall down if we leave the EU. I am a soft Brexiteer/Remainer. In the overall scheme of history this is a minor blip. Heavens sake, stop panicking.