Affording retirement

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  • pollypenny
    pollypenny Posts: 29,393 Forumite
    Name Dropper Photogenic First Anniversary First Post
    I did have a little dither about retiring, but a friend reminded my that your 60s are your golden years. Decent health, inflation not eroded pension etc.

    Additionally, OH's parents died at 67 and 72. I thought to hell with work!

    You never know what's round the corner so enjoy life while you can.

    And, by god, we are! :)
    Member #14 of SKI-ers club

    Words, words, they're all we have to go by!.

    (Pity they are mangled by this autocorrect!)
  • Our position pretty much mirrored yours. I was made redundant at 55 and was able to take my pension then, albeit at a much reduced rate. An income of £24k has kept a house, two cars and a motorhome going for a year and a half so far. Odd bits of other income arise if you look for them and I now wonder what on earth I did with the additional £30k or so we were getting before. Just do it.
  • If you are both like minded re money then £24,000 will be fine - problems are when 1 partner still wants a few luxuries and finds that having a store of cash burns a hole in their pocket or purse; personally I find that freedom from work is the greatest luxury and means I'm happy to forego a few niceties. If you are both on the same page then go for it - you will be amazed at how leaving the rat race gradually makes it easier to resist many of the trinkets that the system dangles in front of you in the name of 'rewarding yourself' for being a wage slave!
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