Early-retirement wannabe

JoeEngland

cathybird wrote: »

Re my friend's source, surely it is obvious it is based on her employer's own research? ... I said she worked for the Australian Heart Foundation - I didn't think I needed to spell out the connection. Apparently I do.

JoeEngland, when you say "the risk of death figures", it is quite possible to come up with many multiples of figures in health research. I could make the same point to hugheskvi. I could ask her for a link, I'm sure, but it's her job to know what the foundation's research is, and to present it.

If you prefer your own sources, good luck to you!

I just thought it would be interesting to see the source rather than rely on an anecdote. Like westv I wonder if it's a spike of deaths attributable to heart disease rather than total mortality.

JoeEngland

agent69 wrote: »

I recall going for a health check up when I was in my 50's. Everything was fine, but the doctor did say that my 2 biggest risk factors were being male and middle aged.

Old age is an even bigger risk! 😀

cathybird

JoeEngland wrote: »

I just thought it would be interesting to see the source rather than rely on an anecdote. Like westv I wonder if it's a spike of deaths attributable to heart disease rather than total mortality.

Fair enough Joe, I just thought the source was obvious (and reputable, which is why I was a bit irked to be questioned). The two work colleagues of mine who died recently both had heart attacks but I know others who died in their 50s of cancer (including my mother). It's quite possible my friend was talking about heart disease/attacks rather than other causes but that would not really alter what she was saying about the vulnerability of the mid to late 50s.

jamesd

barnstar2077 wrote: »

The years from 55 - 57 seem a lot more likely to happen than 85 - 90.

That's one of the observations Blanchett used in his analysis of what success rates were appropriate when using income drawdown rules. I did some illustrative calculations suggesting from 28% to 93% success rate target depending on how much income is guaranteed, what the minimum spending need is and how willing the person is to accept income drops.

Note also that failure means making adjustments beyond those in the drawdown rule if you live though bad times, not running out of money.

barnstar2077 wrote: »

Plus should I be fortunate enough to make it to 90 I won't be spending anywhere the same kind of money as when I was out and about at 55.

Very likely, since in the UK spending was found to drop by about 35% between age 60 and 80, the excess going into savings. Drops were greater at high incomes than low.

AlwaysLearnin

jamesd wrote: »

I'm now retired.

Congrat's jamesd! I hope you'll still be kicking 'round here with your invaluable contributions for a while yet though...:T

Slinky

Slinky wrote: »

I'm looking at 265 calendar days, hopefully sooner.

Fingers crossed, we've accepted an offer on our house today, I'm now looking at the possibility of retiring in the next 6 weeks.

ffacoffipawb

Going part time myself at age 55 in 10 weeks, see how it goes. May retire next year instead.

jamesd

AlwaysLearnin wrote: »

I hope you'll still be kicking 'round here with your invaluable contributions for a while yet though...:T

Never can tell what life will deliver but hopefully so. Glad you find them useful!

Marine_life

Things are moving very quickly.
I’ve now received a formal job offer in the middle east which I’ve decided to accept. At the end of the day the attraction of a new adventure was something I couldn’t turn down. The fact that I don’t need the job means I can focus on the interesting bits although I’ll admit that the tax free salary is attractive. The expectation is that I will be there for 18-24 months although its open ended.
I’ve handed in my notice on my 3-day a week gig.
In two weeks, I’ll head out to the middle east to meet my new colleagues with a view to starting on 1 July! Exciting times ahead.
There will be those who say that “nobody on their deathbed ever wished they’d spent more time in the office” or “you could get hit by a bus tomorrow so enjoy today” but I generally subscribe more to the view of not regretting the things you didn’t do. This chance will never come up again.
I am genuinely excited.
Retirement date reset at December 2020.

lisyloo

barnstar2077 wrote: »

I am planning on retiring at 55 and having my money last me until I am at least 85. I don't see the point in putting it off by a couple of years to try and make my money last till I am 90. The years from 55 - 57 seem a lot more likely to happen than 85 - 90. Plus should I be fortunate enough to make it to 90 I won't be spending anywhere the same kind of money as when I was out and about at 55.

Agree with your sentiment, but if you are in a care home you will be unfortunately spending more.
My MIL is costing £925 in residential in Bristol (one of the cheapest for her needs). The nursing element is additional cost but she qualifies for NHS funding for that part.

BTW she went in at 89 and 9 months.