Anyone taken early retirement and regretted it?

whitesatin

I think it is always worth reminding people that things can change as they are embarking upon a huge decision. It is easy to get swept along thinking everything will stay exactly as it is. Such things need to be factored in.

Just a "little" example here. We took early retirement and have been enjoying it but were always aware that the Bupa cover we had enjoyed whilst in employment would no longer be there for us. So now we are faced with an annoying delay in treating the basal cell carcinoma I have been diagnosed with on the NHS whereas we would have been able to have it done immediately in the past. Such things can increase with age and maybe we should have factored in a private health insurance when doing our financial planning but no, we were healthy.

Not the end of the world but I do wish we had thought of it so any experiences people want to hghlight when someone is asking advice, cannot go amiss in my opinion.

ericonabike

Eliza wrote: »

Right now, ericonabike, you've now had 2 days worth of people's views - that's quite long enough. What's your decision?

I used to be indecisive, but now I'm not so sure. I'm awaiting the result of a job interview today, which in a rather wimpish manner I'm hoping will make my mind up for me. If I get it I'll take it, but if I don't I'll be the early pension route.

Probably.

Ranger8

Eliza wrote: »

I can't imagine anyone thinking it isn't a good thing to do! It depends on your lifestyle however, if you're used to expensive holidays and flash cars, then you need to cut your cloth according to your needs.

I agree, 6 months after early retirement at 55 I`ve to be a bit careful with cash but I`m more content than I`ve ever been.

SpendlessKaren

I "retired" at 48 I was out of the blue left an annuity for life which was £12000 more per annum than I was earning working in a job that I was completely worn out with.
Of course I retired and I can honestly say I have never felt so happy in my life. I absolutely love not having to go to work and doing exactly what I want when I want.
If you have the chance to retire then I would say 100% go for it..

Gracchus_Babeuf

My way of looking at it is this: if you can't enjoy your retirement then there is something seriously wrong with your life. I work to live, not the other way round.

ericonabike

Well. At the age of 55 I've sent the forms to my [soon to be ex] employer to confirm that I want to take my pension from them now. Slightly scary, but at least I've made a decision. and of course, if it turns out badly, it's all the fault of MSE folk:-)

Not sure I want to describe myself as 'retired' though, because I'm quite happy to work - just that it can be on my own terms as I can get by on pension. But we're obliged to define ourselves by 'what we do' and I can't say I'm a 'job title' any longer. Seems rather like being a teenager again - that sense of being neither one thing nor another. No longer a 'worker' but too young [in my own mind anyway] to be a 'pensioner'. Any suggestions on what to say when asked 'and what do you do...' now?

Eliza_2

YAY!!!! Well done, and welcome to the camp.

I'm not sure I've ever really been asked in that sort of outright way to be honest. It took a few months to stop defining myself in terms of my professional career work, but bit by bit I extricated myself from the networks, email lists etc and I suppose I now say something like I worked in the information world - well still do when I want or need to.

Mostly I say I'm just a free spirit, which shuts people up and makes them talk about more interesting things than what job do you do! I have found people say how lucky you are to live like this (crap, there's no such thing as luck) and I only wish I could be like you (well they could, it just takes a bit of courage)

Be interested to hear your plans when you get over the surprise!

RichandJ

ericonabike wrote: »

Well. At the age of 55 I've sent the forms to my [soon to be ex] employer to confirm that I want to take my pension from them now. Slightly scary, but at least I've made a decision. and of course, if it turns out badly, it's all the fault of MSE folk:-)

Not sure I want to describe myself as 'retired' though, because I'm quite happy to work - just that it can be on my own terms as I can get by on pension. But we're obliged to define ourselves by 'what we do' and I can't say I'm a 'job title' any longer. Seems rather like being a teenager again - that sense of being neither one thing nor another. No longer a 'worker' but too young [in my own mind anyway] to be a 'pensioner'. Any suggestions on what to say when asked 'and what do you do...' now?

"Oh, I have private means."

bilbo51

ericonabike wrote: »

I used to be indecisive, but now I'm not so sure. I'm awaiting the result of a job interview today, which in a rather wimpish manner I'm hoping will make my mind up for me. If I get it I'll take it, but if I don't I'll be the early pension route.

Probably.

Well? How did you get on?

whitesatin

I usually describe myself as a retired teacher but, you know, that sounds sooooo boring, I rather like the idea of calling myself a free spirit.

I have never been one of those.:cool: