Early-retirement wannabe

mrklaw

I tend to heavily focus on the ‘next’ thing in life so right now thats retirement. 5 years ago I wouldn’t have been abel to tell you what salary sacrifice even was (for my sins, but hey hindsight is 20:20)

SarahB16

@hugheskevi said:

Way back in 2012, I considered whether I wanted to pursue a promotion path, or instead stay at a lower level doing more interesting things without managerial concerns and generally much less pressure and fewer working hours. Calculating the financial consequences, the difference was reaching financial independence and being able to retire about 1-2 years earlier. The trade wasn't worth it, but I think very few make that sort of evaluation.

I agree - very few people actually do this evaluation. I’ve done it myself and reached the same conclusion. I’m happy at my current level: the work is interesting, challenging and varied, without the stress, managerial burden or extended hours that come with moving up. When I factor in the salary uplift against the longer hours, the additional pressure and the impact on my time, the £/hour trade‑off simply isn’t worth it. It’s not a lack of ambition, it’s protecting my health and well‑being. I’m fortunate in that I expect to retire at 61. Taking a more senior role to be able to retire at 59 doesn’t appeal; the marginal gain of retiring c.2 years earlier isn’t worth the cost to my health and enjoyment I get from my current role.

FloraandFauna

https://forums.moneysavingexpert.com/discussion/comment/82133376#Comment_82133376

Also agree. I have been facing increasing pressure in the last few years to make the move to SCS. My financial forecasts look fairly solid for a retirement at 60; I'm about 5 years away so the move would not materially shift that dial. I enjoy the freedom I have to explore policy in my current role, and have no desire to manage resource, operating or corporate issues. I see no need to move upwards to a life I would not enjoy for negligible progress towards my next stage in life.

Reckless_Saving

@hugheskevi said:

Way back in 2012, I considered whether I wanted to pursue a promotion path, or instead stay at a lower level doing more interesting things without managerial concerns and generally much less pressure and fewer working hours. Calculating the financial consequences, the difference was reaching financial independence and being able to retire about 1-2 years earlier. The trade wasn't worth it, but I think very few make that sort of evaluation.

From over 10 years ago I started to get the badgering from middle management to take/apply for next level up the greasy slope which involved team managing, as much as I love mentoring people, I absolutely hate being involved in my own performance management so the thought of being key in others performance management and dealing with their issues just filled me with dread. Just wasn't worth the slight salary increase (you never get promoted to a market rate), loss of flexible working and the expectation that you work the hours required to get the job done replacing the previously 35 hrs contract. Plus I saw these type of roles as deskilling my core technical skill set that I saw as more marketable if I was to be made redundant.

The badgering was a tad anxiety educing putting across an excuse for not wanting to go for it, at one point I kind of resigned that I would have to go for it at some point but said to myself I would only push that button a couple of years from the end of my career.

Over the same period I've been building on my finance independence journey and it's put me in the liberating position in recent years that the excuses have been replaced with honest feedback that these team leading roles don't tick my boxes with all the bureaucracy involved. All the roles I've passed on in that time have been made redundant within a year or two.

Nebulous2

Now retired, the main thing that has struck me is physical activity. I have always run, just in a club at an average standard, not anywhere near the fastest guys, but that puts me a long way ahead of the average person. I have also started other non-physical activities, and I am still shocked by the poor level of health so many are willing to accept - for the most part, my friends are sporty types, so it gives a distorted view of the population as a whole.

I have recently started strength work in classes at our leisure centre, strength being something that I always neglected, and along with running and a bit of swimming and cycling and garden work, it is exhausting. In particular, I am keen to avoid paying people to do physical things I can do as I see a lot of folks with gardeners, etc, when that is great for health as well as being quite satisfying once completed. 

There is a strong argument that all men - over the age of 40-45ish - should do some strength work. Testosterone drops off and we begin to lose muscle mass. You aren't likely to reverse that, but you can slow it down.

Physical capability becomes one of the main issues as you get older still, even simple things like being able to get out of a chair, greatly improve quality of life when we make it to old age.

prowla

https://forums.moneysavingexpert.com/discussion/comment/82133102#Comment_82133102

Yes; I think that's it regarding the personal perspectives.

My position is that have several hobbies and I get paid to do one of them.

If I quit being paid to do the one I would still do it in some form anyway.