The when thread

marlot

robin61 wrote: »

Have you seen this ?


https://www.retireeasy.co.uk

I have found it very good.

I used that, and everything looked good. But I don't think it takes account of income tax on my pensions. Have gone back to my spreadsheet.

madeinireland_2

I believe it does

robin61

peterg1965 wrote: »

55 for me, in 5 years time. However, the outcome of this years budget has the potential to derail my plans. I need £260-£300k in my SIPP and £125k savings as my aim/trigger point. This will pay most of my mortgage off and should leave my wife and I with the desired level of income.

Why 55? Because by that point I would simply have had enough of commuting and working for someone else. Retirement to me will mean basing myself at home, maybe a work at home business or a part time job just to keep a little focus.....

Roll on April 2021!

Yes it's difficult doing the right thing and planning for retirement if you know there is the possibility of significant changes. I really think that with change will come other possibilities. So for example if they have just one flat rate of tax relief that might work out OK for some as you only get 40% on your earning over £42k and the rest is currently only at 20%.
I also think that really major changes are bound to take some time to introduce but everyone is really just guessing.
Very annoying when what we could all do with is stability.

westv

Ideally 55 but realistically 60 so I'll probably split the difference and look to go at 57. Shouldn't have any mortgage buy then. Pension fund is estimated to be around from around £260-£290k by then which just might be enough - hopefully.

TheTracker

chiefie wrote: »

So in summary

Most people want to go earlier even if it means less pension

Some expect to do some part time work, not necessarily through necessity

A lot of people know someone who has died early and this influences their decision making

Lots of people have an intolerance for corporate bull ☺️

And:

When George allows me to.

Nationwide8

Assuming most of this thread is about people retiring before the State Pension kicks in then the financial amount in a Private pension,savings or whatever people need to feel they can walk away from a job varies enormously.

I retired last year mid fifties....for me health issues ( life is too short area ) were a massive factor but also the bull**** that most people now have to put up in many jobs was becoming virtually intolerable.

But only YOU can decide if the money you get from a job buys you the things and gives you the lifestyle that is worth putting up with what you do every working day to get that money.

I probably would have gone a few years earlier if my pension had been more but I went as soon as I knew my pension was enough to live on with a comfortable standard of living ....some people will "hang on" through fear of "what will I do" or just because they want the same/more holidays,to maintain a car/s,continued support of a child/children into adulthood,a mortgage or whatever,there are a myriad of reasons ....BUT how much money is enough ?? and when you think about life does anyone think " I should have spent more time at work " ??

chiefie

Nationwide8 wrote: »

Assuming most of this thread is about people retiring before the State Pension kicks in then the financial amount in a Private pension,savings or whatever people need to feel they can walk away from a job varies enormously.

I retired last year mid fifties....for me health issues ( life is too short area ) were a massive factor but also the bull**** that most people now have to put up in many jobs was becoming virtually intolerable.

But only YOU can decide if the money you get from a job buys you the things and gives you the lifestyle that is worth putting up with what you do every working day to get that money.

I probably would have gone a few years earlier if my pension had been more but I went as soon as I knew my pension was enough to live on with a comfortable standard of living ....some people will "hang on" through fear of "what will I do" or just because they want the same/more holidays,to maintain a car/s,continued support of a child/children into adulthood,a mortgage or whatever,there are a myriad of reasons ....BUT how much money is enough ?? and when you think about life does anyone think " I should have spent more time at work " ??

I think many on here already think they have spent too much time at work ! it's a massive chunk of your life, even more so if you think about work when you are not there.

Snakey

I don't think a little bit of fear is a bad thing. If there's ever an area where you want a nice margin for error, funding one's retirement is it. Nobody on their deathbed ever says "I wish I'd eaten more dogfood".

chiram2015

[QUOTE=Bazofts_Revenge;6_but_I_intend_to_sell_off_a_sizeable_record_collection_and_hundreds_of_collectible_Ornaments_my_late_wife_collected._.[/QUOTE]


Enjoying this thread but BR it looks like from the Retireeasy website that one of their guys is also a record collector and he has written a blog about buying and selling records - it might be worth a look.

I signed up for their free Lifeplan about 2 years ago now and regularly update it - I used to run a spreadsheet alongside but this was a faff and just use Retireeasy now.

bugslet

I don't have any firm plans and I'm 51 now.

I dither a lot because being widowed and having no family, there is no safety net of any type beyond the State. Neither of my parents were particularly long-lived, dying in their early and late 60s, which makes you wonder.

On the other hand, I mostly enjoy work. I work for myself and am cantankerous enough that I've told some of the bigger firms that I don't care to work for them if they come across as being too corporate.

If the current main customer were to part ways with me, then I'd just finish the business and take whatever is left, which should be a couple of hundred k. Private pension kicks in at 60, but at about 200k at the moment, it seems woefully underfunded.

I guess I'll just make it up as I go along as usual. I do find some of the posters on here terrifyingly organised!:o