Can I afford to retire?

rockie4

I'd worked out what I should have coming in and going out and on paper it's do-able. I keep spreadsheets of income/outgoings so I have the info.

Jenifernil - it's interesting that you say you only need £15K to live well as that's a similar figure to the one I came to
I have quite a hefty petrol bill for my commute at the moment so that would drop considerably....plus all the other bits and bobs that eat money at work.....

Anyway, I've made a decision...... I'm going to retire at Christmas :eek: I haven't told hubby yet but will do this weekend. If all goes to plan I would only have about £2000 left on the mortgage which I can pay off out of my lump sum and I'll look for some part time work locally - I've had enough of dragging myself into this place day after day......several things have happened this week which have made me realise it's time to go.

Thanks for the replies and the help :T

bilbo51

rockie4 wrote: »

I might try the online route, if he doesn't have to see someone face to face he might be more co-operative.

You can do this (on his behalf ) online. All you need is his NI number.

marathonic

rockie4 wrote: »

Anyway, I've made a decision...... I'm going to retire at Christmas :eek: I haven't told hubby yet but will do this weekend. If all goes to plan I would only have about £2000 left on the mortgage which I can pay off out of my lump sum and I'll look for some part time work locally

I'm always for delayed gratification so, if I came to this decision, I'd probably decide to delay the retirement until next Spring. That would allow me to use the additional couple of months income to pay off the mortgage in it's enirety and use the £2000 to go on a nice, guilt-free cruise.

Of course, you may be different and, if you've done the numbers, congratulations.

rockie4

marathonic wrote: »

I'm always for delayed gratification so, if I came to this decision, I'd probably decide to delay the retirement until next Spring. That would allow me to use the additional couple of months income to pay off the mortgage in it's enirety and use the £2000 to go on a nice, guilt-free cruise.

Of course, you may be different and, if you've done the numbers, congratulations.

A cruise is very tempting but I work as teaching support in a university .:wall:....one more semester I can cope with but any more than that would have the men in white coats coming for me I think!!

Bilbo51 -

aeb_2

rockie4 wrote: »

Anyway, I've made a decision...... I'm going to retire at Christmas :eek: I haven't told hubby yet but will do this weekend. If all goes to plan I would only have about £2000 left on the mortgage which I can pay off out of my lump sum and I'll look for some part time work locally - I've had enough of dragging myself into this place day after day......several things have happened this week which have made me realise it's time to go.

Thanks for the replies and the help :T

Good for you!
My husband retired at Christmas and was able to claim some tax back at the end of the tax year as his income reduced.