How old will you be when you can retire?

ruggedtoast

Loughton_Monkey wrote: »

You're probably looking, then, at about 85 before you can retire. The annuity rates at that age look OK to me.....

Due to draw my state pension next year, I reckon that an equivalent 'cash value' is at least £200K.

Why don't you just write me out a cheque. I'll tell Gideon I'm not going to claim my pension, and then you can retire gracefully knowing that you have honoured your obligations to us boomers.

Small price to pay. After all, I paid for your education. Do you think I got good value for money?

It would appear that whoever paid for yours did, as you have apparently wound up knowing everything...

DigForVictory

I can retire any time I choose - so long as I'm ready to choose being flat broke.
And bored, which has done for several of my family. The death certificates say other things, but our lot seem to prefer death in harness to dwindling on the sofa. I think the womenfolk might mutter that they'd love to have a go but the truth is they are even busier retired than they were 'working'.
They scare the dickens out of me...

vivatifosi

I would be able to retire at 60, but plan to retire at 65. I may choose to work part time from 60-65. Beyond 65 I'm hoping to keep my hand in with a couple of trustee roles as small charities are always on the look out for them and it would be interesting.

purch

grizzly1911 wrote: »

Why nothing less than 50?

I assume the idea of someone being successful in their career that they could afford to retire well below that age is beyond the imagination of the OP.

He assumes everyone is a failure like himself.

chewmylegoff

I will never retire because I never started working. Sure, I go to an office and they pay me, but all I do is gossip about other people in the office, flirt unsuccessfully with my secretary and play on-line chess on my phone. Isn't that what everyone does?

kabayiri

For a brief moment I was slightly worried that this poll would not reflect the broad needs and capabilities of our society as a whole, regards retirement income.

I needn't have worried !

We have a clear 80% who are in retirment clover land, with perhaps a couple of % acknowledging they are going to struggle.


Put another way, on a macro level this poll is next to useless...

...unless you want to brag.

New_and_Improved_Me

MrRee wrote: »

That's a good view to take, New and Improved ...... I did think the same as you when I was 40.

Building up a provision of £3000 a month income in todays climate, over 10 years is going to take some serious finacial planning, and some serious investments.

I'm guessing that you will not be able to do it, but it's a great dream!

;)

I have a plan....A cunning plan...its so cunning you could stick a tail on it and call it a fox.....:)

Joking aside, i'm part way there, I'm at about 700 so far....and a decent amount of savings which I'm intending to spend to buy a property...which should increase that to about a thousand...

And I'm finally after years and years of doing solly hours, im finally earning a decent amount so can do it if I try hard enough and invest Wisley..

Fingers crossed....:):).

New_and_Improved_Me

Tancred wrote: »

TROLL!

Utter BS. First of all you can't take out a pension until you are 55 and secondly, if you want £30k a year at 50 (or 55) you would need a massive fund of in excess of £1M.
Then again if you are an investment banker you can simply syphon it all into a Swiss bank etc.

Why such hatred...

My plan has nothing nothing to do with a 1 mill pension pot.

I'm making some Iinvestments in property and assets that I am hoping will give me the income I want.

any pension I get will be a bonus, but it's NOT in my calculations.

New_and_Improved_Me

Tancred wrote: »

You would need around £1.5M to get £36k a year at 50. This guy is either a troll or some di**head who makes a shedload of cash in the City.

It'sa plan...it may not happen...but Iit's my plan.

and no I am not a investment banker. I'm investing in property.

ruggedtoast

New_and_Improved_Me wrote: »

It'sa plan...it may not happen...but Iit's my plan.

and no I am not a investment banker. I'm investing in property.

Can't go wrong mate.

One way bet.

:money: