How old will you be when you can retire?

New_and_Improved_Me

All you can do is plan wisley.

There are NO gurantees in life except death

Edit: - and TAX.

wotsthat

grizzly1911 wrote: »

Stuff does happen in life for many that does over turn the apple cart regardless of how well you load it.

If someone has spent a working life training themselves to live on less many than they earn, saving and investing the balance, and generally being sensible with money then that will mitigate against stuff.

Using your analogy I'd prefer my apple cart to be well loaded than not when it does. I'd rather have an 'apple cart' that was stable enough not to be overturned by the fridge packing up or a large electric bill.

Combine stuff happening with poor life choices and the effects are magnified.

Tancred

Goldiegirl wrote: »

I was made redundant at age 50, and took my pension as part of my redundancy settlement.

I now work part time, two days a week, at present, but I'm intending to retire fully at age 55, when my husband retires.

We won't be rich, but with our pensions, savings, and at some point in the future we could downsize our house, we will be comfortable, and plan live fairly simply day to day, but still have some nice holidays and cruises.

Good that you can still do that, but many people cannot. I'm 46 and still have a £130k mortgage that won't be paid until I'm nearly 65. And various job traumas have left me with a small frozen final salary pension and a money purchase fund that I'm trying to build up as fast as possible. Not expecting much inheritance either given the number of siblings.

Tancred

New_and_Improved_Me wrote: »

All you can do is plan wisley.

There are NO gurantees in life except death

Edit: - and TAX.

The most sensible post in this thread.

Tancred

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.

OK, but property investment is a risky approach. My plan is to retire within 12 months by winning the Euromillions jackpot, but the odds don't favour me.

Tancred

purch wrote: »

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.

According to your definition, 99% of people are failures.

How is life on Mars? :cool:

grizzly1911

wotsthat wrote: »

If someone has spent a working life training themselves to live on less many than they earn, saving and investing the balance, and generally being sensible with money then that will mitigate against stuff.

Using your analogy I'd prefer my apple cart to be well loaded than not when it does. I'd rather have an 'apple cart' that was stable enough not to be overturned by the fridge packing up or a large electric bill.

Combine stuff happening with poor life choices and the effects are magnified.

Don't disagree but things like ill health, accidents and acrimonious divorces often take no prisoners.

Leccy bills and bust fridges pale into insignificance.,

Tancred

New_and_Improved_Me wrote: »

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.

No hatred....just confusion. I thought we were discussing pensions, not property speculation.

ruggedtoast

Goldiegirl wrote: »

I was made redundant at age 50, and took my pension as part of my redundancy settlement.

I now work part time, two days a week, at present, but I'm intending to retire fully at age 55, when my husband retires.

We won't be rich, but with our pensions, savings, and at some point in the future we could downsize our house, we will be comfortable, and plan live fairly simply day to day, but still have some nice holidays and cruises.

Being able to live without working in your fifties and going on holidays and cruises fits a lot of peoples' definition of 'rich'.

Goldiegirl

Tancred wrote: »

Good that you can still do that, but many people cannot. I'm 46 and still have a £130k mortgage that won't be paid until I'm nearly 65. And various job traumas have left me with a small frozen final salary pension and a money purchase fund that I'm trying to build up as fast as possible. Not expecting much inheritance either given the number of siblings.

Absolutely, I realise I'm lucky to be in this position.


My husband is nine years older than me, and it was always our general plan to stop work at the same time, so we could spend time together.


We've lived in the same house since 1989, and although it was considered a large mortgage when we completed, it is now repaid.


We were also lucky to have steady employment - my husband was made redundant in 2004 and me in 2010, but apart from that our working life has been very stable.


It's this stability that has helped me to (hopefully) be in a position to stop work at a relatively early age. We had comparitively little in the way of inherited money, both sets of parents never owned a property.


However, if my husband was nearer my age, I think we'd have planned this joint retirement at a later stage, certainly into our 60's.