The when thread

robin61

chiefie wrote: »

I very much suspect this will happen to me. I have 3 years and it feels like 33 years. You have inspired me to spend some time to look into other things for my future to keep me busy. Thanks

This is a good book. It's American but still lots of relevant stuff.

http://www.amazon.co.uk/How-Retire-Happy-Wild-Free/dp/096941949X/ref=sr_1_5?ie=UTF8&qid=1451948167&sr=8-5&keywords=retirement+book

madeinireland_2

robin61 wrote: »

I am 55 (tomorrow). I would like to retire at age 56 or 57 at the latest.
Why ? Because of the corporate bull**** and the demands for more with less, looking over my shoulder wondering when I will next be asked to reapply for my own job. This has robbed me of the enthusiasm I once had.
I have put a lot of effort into financial planning over the last 4 years and pretty much know when I will have enough to generate the income we need.
I guess there will always be the temptation to work a bit longer and be a bit better off. I really want to leave with an early retirement package rather than just resign. So I guess that will pretty much decide exactly when. Although there will be a point where enough is enough even without a package but I hope it doesn't come to that.
Since I decided another year or two is all I need to work for I have felt less pressure knowing there is a line in the sand which is not too far away.
Plus you never know how long you have got and I want to have enough time to do the things I want to do while I am fit enough to do them.

I echo these comments but probably not surprising as I believe I work for the same company.

I will be 55 in March this year and I have planned for a long time to go around then as having researched my family tree it appears I may not have too many years beyond that - yes I know it's not all down to that - but why take the chance if you have saved enough.

I will also require a scheme so I will be going as soon as that scheme is announced unless something drastic happens between then and now.

patanne

I think you need to go when your need to 'say it as it is' increases beyond what management are prepared to smile and shrug their shoulders at. I was very lucky, my need to speak age was 58. I never pulled a punch (although politely) until I decided to go (after filling a new role they needed doing) at 66.5, I think you reach an age where the bu*****t is just too much and they either go with the flow or you decide it is time to go. They could also decide that they want you gone!

As for the motivation - the causes are so numerous. Getting your first REAL ailment, a close family member getting a real illness, a realisation that you have enough to live on without your state pension. It seems everyone has their own reasons. You can be 50 or 70 but your reasons will be your own.

The only age to have an issue with is the one that says why didn't I go 3 years ago!

richy999

When - before I am 55 (42 now)
Why - So I have more time (before I kick the bucket) to do the things I enjoy.

The balance between providing enough pension vs not leaving it too late is not easy to figure out. I would sway towards not leaving it too late.

nearlyrich

Happy Birthday Robin I am 55 in July and I plan to leave my job at the end of June because if I start July and leave part way through I won't earn any bonus. My DD is about to produce my first grandchild and I am keen to be a hands on grandma. I have planned for early retirement at 50 originally until they changed the rules to 55 as my DH is older and has already retired, We have lots of travel plans and I think I would struggle to be bored he has a fuller social life than I do at the moment. I already had a get stuffed fund because I left my previous role after working for a muppet about 5 years ago and if this job had not come up I would probably be doing something part time. I have been able to add a substantial amount to my pension pot and to my ISA savings so I am not too worried about running out of money. The house is paid for and in good condition, running costs are not ridiculous DH has a decent FS pension and apart from holidays we are not big spenders. Time over money for me everytime...

robin61

nearlyrich wrote: »

Happy Birthday Robin I am 55 in July and I plan to leave my job at the end of June because if I start July and leave part way through I won't earn any bonus. My DD is about to produce my first grandchild and I am keen to be a hands on grandma. I have planned for early retirement at 50 originally until they changed the rules to 55 as my DH is older and has already retired, We have lots of travel plans and I think I would struggle to be bored he has a fuller social life than I do at the moment. I already had a get stuffed fund because I left my previous role after working for a muppet about 5 years ago and if this job had not come up I would probably be doing something part time. I have been able to add a substantial amount to my pension pot and to my ISA savings so I am not too worried about running out of money. The house is paid for and in good condition, running costs are not ridiculous DH has a decent FS pension and apart from holidays we are not big spenders. Time over money for me everytime...

Thanks a lot nearlyrich
Sounds like you are in a good position to enjoy your retirement and I am sure you will do.

tempus_fugit

I am 56 later this month and I plan to go when I am 57, or as soon as possible thereafter. The earliest time would really be the end of this year, but every month after that would make things just a tad more comfortable. A severance package round about then would be very handy. As to what to do, I have many hobbies that I would like more time for, but the boredom factor could be very real too. I just don't want to use work as the reason to avoid being bored any more, so i will have to be disciplined and find things to do that relieve the boredom but are not too stressful.

robin61

madeinireland wrote: »

I echo these comments but probably not surprising as I believe I work for the same company.

I will be 55 in March this year and I have planned for a long time to go around then as having researched my family tree it appears I may not have too many years beyond that - yes I know it's not all down to that - but why take the chance if you have saved enough.

I will also require a scheme so I will be going as soon as that scheme is announced unless something drastic happens between then and now.

I will keep my fingers crossed that there is an oportunity for you over the next few months. Are you planning to take the pension straight away ?
Actually I am finding work better now than for a few years. I think it is a state of mind as much as anything as things are certainly no better but I really think that knowing that in the not too distant future I have other options makes a huge difference. Even so a couple of years Max for me. As you say you can never tell when your time is up so enjoy it when you can.

chucknorris

I'm 58 on Friday, last month I informed my employer that I no longer want to retire this summer, it was a very marginal decision to take early retirement, and again, a very marginal decision when changing my mind, and deciding to work on. Not that much to do with money, much more to do with what I want to do. I'm not sure when I will retire, financially I could have done it years ago, but I quite like my job (university lecturer, part time at 80% fractional).

Pinner_Ram

When? - 3 March 2016.
How old? - 53 next week.
Why? - have not been able to have our own children so have the wherewithal to retire now. Any more wealth accumulation will simply end up going to nieces/nephews/godchildren.
What will I do? - play more golf (a cliche I know), spend more time driving around Europe in my sports car, re-join a chamber choir/musical theatre group, continue as church treasurer, join golf club finance committee, little else though!