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Possible early retirement

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  • dktreesea
    dktreesea Posts: 5,736 Forumite
    I'm glad you are putting in some thought about what to do other than work. My mum worked long past the normal age for retiring, to the point where it undermined her health. I thought she was mad and think she should have retired at 60. But no, she wanted to "keep saving, in case she needed it later on". Now only does she see my point. She has chosen to preserve our inheritance rather than live her life, but by default, not intention, if you see what I mean. She is now too unwell to enjoy her wealth.

    Going to Italy sounds like a great idea. I met a lady here a few years ago who retired from the NHS when she was in her early 50s. She does have children, but had enough savings to retire, and has been travelling every now and then ever since. This summer they are on a cruise around the Norwegian fiords.

    New bikes? How about a canal boat cruise? There's usually a tow path next to the canal. You can take the bikes, ride along it for a while, stop at a nice pub along the way and then rejoin the canal boat further along.
  • Chezcat
    Chezcat Posts: 42 Forumite
    dktreesea wrote: »
    I'm glad you are putting in some thought about what to do other than work. My mum worked long past the normal age for retiring, to the point where it undermined her health. I thought she was mad and think she should have retired at 60. But no, she wanted to "keep saving, in case she needed it later on". Now only does she see my point. She has chosen to preserve our inheritance rather than live her life, but by default, not intention, if you see what I mean. She is now too unwell to enjoy her wealth.

    Going to Italy sounds like a great idea. I met a lady here a few years ago who retired from the NHS when she was in her early 50s. She does have children, but had enough savings to retire, and has been travelling every now and then ever since. This summer they are on a cruise around the Norwegian fiords.

    New bikes? How about a canal boat cruise? There's usually a tow path next to the canal. You can take the bikes, ride along it for a while, stop at a nice pub along the way and then rejoin the canal boat further along.

    Thank you for your suggestions, a canal boat cruise sounds really nice. My dad worked full time until 65 and then part-time until 71 even though he didn't need to but he was " just being careful" and "looking after your inheritance" like your mum...my mum then died suddenly and he regretted not doing all the things they were going to do together, still wouldn't spend money though as he wasn't interested in doing anything without mum. Food for thought.
  • Katiehound
    Katiehound Posts: 8,125 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Lots of luck- get out and enjoy life whilst you can!

    My suggestion is to make your money work harder for you! If you can juggle a Halifax reward a/c, Club Lloyds, TSB Classic x 2 & Nationwide Flex a/c your rainy day money will be working for you. Halifax gives you £60pa (or £75 as non tax payer) and the others will give 5% interest- far more than a savings a/c.The basic monthly payment cycles round between accounts!! If you look on the banking thread you will see lots of comments/ help. People say they can't be bothered but it only takes a little bit of time to have some more dosh to enjoy- or give to charity- whatever you want.

    Make your bucket list.
    What do you really want to do with your time?
    I got very early retirement on ill health years ago and went to art college, got a ND in craft and an A level.
    I also was a volunteer with the Blue Cross and took my dog into schools and youth groups as well as working on the stand at Crufts. She was also a PAT dog and I visited several wards in the local hospital. I loved doing all that (sadly my hound died very suddenly 5 years ago.)
    I have always liked travelling. If you aren't tied to peak holiday times you can get great last minute deals. I really enjoy cruising, seeing new places, meeting fellow travellers, going to the craft classes, dancing and so on. (Nevermind the wonderful food.)
    You could try long weekends away. Stay at the Warner adults centres- free daytime activities and evening entertainments. Get a National Trust or English Heritage card and visit as many as you can.
    Go to Italian evening classes
    get a Youth Hostel card and go walking.....,

    The world is your oyster.
    Have a lot of fun planning and then doing whatever it is you want to do

    and a lot of these can be fairly frugal but I would suggest some splashing out is needed now and then! otherwise what are you saving for?
    Being polite and pleasant doesn't cost anything!
    -Stash bust:in 2022:337
    Stash bust :2023. 120duvets, 24bags,43dogcoats, 2scrunchies, 10mitts, 6 bootees, 8spec cases, 2 A6notebooks, 59cards, 6 lav bags,36 angels,9 bones,1 blanket, 1 lined bag,3 owls, 88 pyramids = total 420total spend £5.Total for 'Dogs for Good' £546.82

    2024:Sewn:59Doggy ds,52pyramids,18 bags,6spec cases,6lav.bags.
    Knits:6covers,4hats,10mitts,2 bootees.
    Crotchet:61angels, 229cards=453 £158.55profit!!!
    2025 3dduvets
  • Chezcat
    Chezcat Posts: 42 Forumite
    Wow, thanks for taking the time with all those suggestions! I have actually been offered a little part time job which I will probably do as I feel a bit guilty that my OH is still working (also part time) but I may only do it for a year or so just to ease me in to full early retirement. I do need to sort out some high interest cash savings accounts so I will do some research with the accounts you mention.

    When I made my first post I was very down but I feel much happier now and the suggestions on here have been very encouraging. I was talking to my sister last weekend about the four of us going to Italy in May 2105 so I need to think about those Italian classes!

    I hope you continue to enjoy your retirement.
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