Is there a best time of year to retire?

pandora205

I've thought about having a long summer at the beginning of retirement. Fortunately, my eldest lives in New Zealand, so I will hop over there for a few weeks. (I'm even tempted to move in that direction but having two other children, one here in UK and one in Greece, makes that a difficult decision).

Not much I can do about the change in interest rate for deferring state pension unfortunately. Still 5.2% is better than putting it in the bank.

maxie014

Remembered why the union man told me to retire after xmas as pay rise time is jan so goes on pension.

atush

brewerdave wrote: »

Forgetting financial implications (!!!!) I believe the best time to finish work is in the Spring so that you have (hopefully) long, warm days to get used to the change of lifestyle - one of my ex colleagues finished end of October -he found that first Winter dreadful - he was at home on his own as his wife was still working and it happened to be a cold ,wet Winter so he couldn't get out in the garden or on the golf course much.

i would prefer he wait to retire in October, but we will spend the winter in florida. He would use all his year's vacation in the summer before going? But he would probably want to go after Bonus time. We have yet to fix the date.

Our last child leaves university this year, and he enjoys his job these days, so still have to fix the exact year.

nearlyrich

I am going at the end of June because I get a bonus per quarter but I don't get it if I don't work the full quarter. My 55th birthday is in early July and I have just become a grandma so lot's of good reasons to pack it in. I am planning on leaving my pensions intact until the next tax year as will already have hit the higher tax rate before I go and I am really planning on paying no more tax ever!

brewerdave

....very interesting that so many people appear to plan around bonus awards -must admit that, in this day and age, I didn't think many people got bonuses any more !!!

nearlyrich

brewerdave wrote: »

....very interesting that so many people appear to plan around bonus awards -must admit that, in this day and age, I didn't think many people got bonuses any more !!!

My bonus is based on hitting a sales target rather than for just turning up

kidmugsy

bigfreddiel wrote: »

Deferring the new sp only attracts 5.2% or 1% every 10 weeks, half what the old sp attracted.

Not according to HMG:
"Your new State Pension will increase by 1% for every 9 weeks you put off claiming. This works out as just under 5.8% for every full year."

pandora205

Just thought of another factor in my planning. Is there a 'best time' with regard to investments? As I have AVCs, which fluctuate in value, are there any patterns regarding times of year?

Thanx

maximumgardener

Its extremely tricky to time the market !

Generally considered more important to consider your
"time in the market" than attempting to second guess
what the markets /investments may or may not do. i.e. "timing the market"

especially if your investments are to be there for decade/s

pandora205

maximumgardener wrote: »

Its extremely tricky to time the market !

Generally considered more important to consider your
"time in the market" than attempting to second guess
what the markets /investments may or may not do. i.e. "timing the market"

especially if your investments are to be there for decade/s

Yes I've just discovered that, having managed to track down a fact sheet online about the performance on my AVCs. There doesn't seem to be much of a monthly pattern (i.e. one time of year being better).