Can O/h and I afford early retirement ?

Errata

Retirement for me means I am the person I want to be and not the person my job makes me be.

exil

Read Charles Lamb's "The Superannuated Man", this is the best argument in favour of early retirement I've ever seen

http://www.finfacts.ie/charleslamb.htm

exil

harryhound wrote: »

Does existing on a state pension topped up by a means tested benefit do anything for one's self esteem and self value ?

Does retiring on state benefit plus a small pension, a wee bit bigger than the means tested benefit, do anything for one's self esteem and self value ?

Does having saved a decent "nest egg", by not holidaying in Florida, and having its interest slashed from (say) 6% to something less than half of that, do anything for one's self esteem and self value ?

Sure, but we're talking about people like the OP who do have enough dosh to retire on. In this case should they keep working just because the "protestant work ethic" tells them to?

Errata

I doubt many people go to their graves shouting "Damn - I wish I'd spent more time at work !"

balmaiden

Well as the one who started this thread I can say that both the old man and I are still very much enjoying our retirement. OH is 62 this month and I thank my lucky stars that he doesn't have to go out on a freezing building site any more if he doesn't want to. He did enjoy his job and did gain satisfaction from a job well done,but, no way does he sit at home suffering from low self esteem.

When I started this thread of course we had no idea interest rates were going to go so low. Our retirement income from savings has obviously dropped, but I am still certain sure that, at least for the moment, we have done the right thing. One or both of us may decide or indeed be forced by circumstances to take some form of paid employment one day, but tomorrow morning when I wake and listen to the icy blasts at my window I will pull the covers over my head and count my blessings.

Lets_Say_2

Good for you balmaiden, glad you are both enjoying retirement while you can.

zaksmum

balmaiden wrote: »

Well as the one who started this thread I can say that both the old man and I are still very much enjoying our retirement. OH is 62 this month and I thank my lucky stars that he doesn't have to go out on a freezing building site any more if he doesn't want to. He did enjoy his job and did gain satisfaction from a job well done,but, no way does he sit at home suffering from low self esteem.

When I started this thread of course we had no idea interest rates were going to go so low. Our retirement income from savings has obviously dropped, but I am still certain sure that, at least for the moment, we have done the right thing. One or both of us may decide or indeed be forced by circumstances to take some form of paid employment one day, but tomorrow morning when I wake and listen to the icy blasts at my window I will pull the covers over my head and count my blessings.

How nice is it to hear that SOMEONE counts their blessings in these very uncertain times?

Good on you balmaiden

Bogof_Babe

I hope you have more luck than us if you do decide to go back to work again. My husband was laid off from his part time job in October and hasn't been able to find anything at all since, except for one week delivering Yellow Pages, for which he is still to be paid :rolleyes:. He's 62 too. Luckily our savings are okay and of course he will get his state pension in 2 1/2 years, but he misses the company and stimulation of "doing" something.

I have resigned myself to dwindling my way through my savings, hoping they will last out until I get my own state pension in 5 years time, and another 3 years after that I should get a small works pension, unless it has gone belly up in the meantime.

I believe there is a programme on TV on Monday at 8.00 (can't remember which channel but it's not Sky or anything) about how you can be too old to find work at 45. God help the rest of us then.

balmaiden

Yes Bogof, you are right re the job front I am sorry to hear that your husband is not able to find work at the moment.

When I mentioned the possibility of one day returning to work I didn't mean the jobs we did in our previous life, we think more along the lines of seasonal work. We live in a tourist area and by all accounts (at least for this summer ) that is one area that is thriving due to more people holidaying at home. We do have some experience, so it is a possibility.

Talking of seasonal work an interesting side to the credit crunch/recession is that our daffodil fields actually have local people working in them again. For many years it was only foreign workers who would put up with the harsh back breaking conditions of the bulb fields.

Got to add we have had a lovely "retirement" week. Snow in west Cornwall woohoo. Grandchildren home from school and down with Gran and Grandad for the day. Yay Grandad dusted down the sledge, last used 15 years ago and boy did we have fun. Would have missed this if we were still at the coalface. So Mr Gordon Brown you may be eroding my savings, but, I wouldn't have missed being pelted with snowballs by three laughing darling Grandhoolies, for any amount of money. So there.

seven-day-weekend

Eco_Miser wrote: »

A useful thread. I'm glad it came back. It helps convince me I'm making the right decision.
My job ends at the end of the month (redundancy), and I'm 59 a fortnight later. I'm single and the house is paid for. I've got a pension forecast - 100% - for 2015 and I can live on it. My savings/investments are 40 times my current annual spending (I really am a miser:cheesy:) so I reckon it's time to retire and start spending the nephew's inheritance.:rotfl:

Eco Miser, come and join the SKI-er's thread on this board!

(We have an acronym for those with no kids (because they can't Spend the Kids' Inheritance) -SKATERS - which stands for Spending Kash And Thoroughly Enjoying Results:rotfl: ).

Hope to see you there!