Drop in income, pre-retirement?

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  • GoldiegirlGoldiegirl Forumite
    8.8K Posts
    Ninth Anniversary 1,000 Posts Rampant Recycler Hung up my suit!
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    My salary did drop when I reached 50, but that was because I took a part time job.

    My hourly rate in the job was the same as my previous full time job.

    What with having receiving a monthlypension, and paying less tax, and having no mortgage, I feel better off at this point in my life than ever before, and have put more money in savings in the last 4 years than ever before.
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
  • IlonaIlona Forumite
    2.4K Posts
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    I was a professional lorry driver, my wages were never as much as other so called professionals. It stayed constant throughout, until I chose to reduce my working hours when I was in my mid fifties, thus reducing my earnings. I can live happily on a small income, and life is pretty good at the moment now I am five years into retirement. Yes I don't have as much money coming in, but neither do I have much going out.

    The best time to get your finances in order before retirement? As soon as you leave school, and never take your eye off the ball.
    Ilona
    I love skip diving.
    :D
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