Early-retirement wannabe

Anonymous101

SmashedAvacado wrote: »

i did around 10 years in dubai. Tax free and same income so basically earned double, but the thing with earning double is that your overheads say the same, so under my UK income where i could save say 10% in dubai i could save 60% (the 10% and the whole tax free bit). Which basically means i will be able to retire / do something else a lot more earlier (like 15 years) than had i stayed in the UK. Its not h the same for everyone but particular jobs are well suited and the heat is something you can get used to in the summer.

What industry do you work in?
I work in Construction and know its pretty common for people to do this in my line of work.
At the moment I've no plans to go out there but perhaps in another few years I'd be prepared to take a risk and move abroad.


The saving principle you're talking about has servered me well even here in the UK. Once I was earning enough for a comfortable life I tried to keep my costs fairly static whilst any additional pay rise went to savings.


Its much harder to cut back costs than refrain from increasing them in the first place.

Kit_Katt

I visit the ME on a regular basis with work.
I would rank for a westerner and also if going with wife or girlfriend etc
Abu Dhabi #1
Bahrain #2 small and beautiful - good if yoir commuting to Saudi over the causeway
Dubai #3
Qatar #4

Oman is beautiful and again up there with Dubai - big indian community in most of these places.
Likes of Riyadh i think westerners struggle.

gadgetmind

Linton wrote: »

Another problem with staying as a techie is that your manager could well be much younger than you, less experienced and in your eyes less competent.

They can also be older than you, but less experienced and less competent!

This can make relations difficult and stressful for both sides.

Agreed, but that's why the money is excellent if you're good at managing both those below you *and* those above.

JoeEngland

inflationbuster wrote: »

I work in IT software development and it's a relatively young environment. People tend to move into management or lead role by now. I don't know why but l keep thinking I'd probably struggle to find a suitable role, say if things don't work out a few years into retirement.

Being out of IT for a few years would be a bigger impediment to getting another job than your age.

JoeEngland

Yesterday I handed in my notice and will be finishing at the end of July. This gives them more time to recruit a replacement and I get nearly two more months salary. Health issues have made working full-time unsustainable, and besides that I'm mentally done with IT after over 30 years. I may look for some kind of PT work, but the main thing is looking forward to doing other things and resuming my writing hobby. Getting more sleep will be a big benefit of not working as I'm constantly tired while working FT.

Roll on July! ��

atush

Congrats :beer:

shinytop

JoeEngland wrote: »

Yesterday I handed in my notice and will be finishing at the end of July. This gives them more time to recruit a replacement and I get nearly two more months salary. Health issues have made working full-time unsustainable, and besides that I'm mentally done with IT after over 30 years. I may look for some kind of PT work, but the main thing is looking forward to doing other things and resuming my writing hobby. Getting more sleep will be a big benefit of not working as I'm constantly tired while working FT.

Roll on July! ��

congratulations! :T August for me:o

JoeEngland

shinytop wrote: »

congratulations! :T August for me:o

Congrats. Are you another ITer?

crv1963

Congrats to JoeEngland and ShinyTop!

After some life events I'm requesting a pension forecast and if it is at all feasible I'm planning on going into semi-retirement in December, if it's not then it is a definite go in two years time.

In the past month, 4 former colleagues have died before the age of 60 and a sibling at 60, so as my deceased sibling always said- "If you can, then go, time is one of the things you can't buy!".

Karmacat

Sorry to hear about your sibling, crv taking the lesson to heart means a lot, though.