Regret retiring too early with not enough money?

[Deleted User]

Wenlock wrote: »

In purely financial terms I retired "too early with not enough money", although in no way do I regret retiring. I had a modest job paying about £1,800 a month net, of which I routinely spent about £1,000 - having paid off the mortgage early.

I retired 2 years ago at 50, on a pension of £633 a month. I spend all that, however I have some savings which are increasing roughly in line with inflation.

I never wanted to start work & I disliked it intensely from age 17 to age 50. Work was just something you had to do to live (I have never claimed any benefits and wouldn't consider doing so other than State Pension).

In the unlikely event that I live for many more decades I suppose I may regret not working a little longer and increasing both the savings and the final pension. I very much doubt it though. Nothing can compete with the peace of mind and contentment of the total freedom to do what you want with your time. No more "oh no it's Monday tomorrow" feelings.

Of course for anyone who doesn't dislike working I can understand that the decision to retire early is a little more nuanced.

I am also fortunate in that I get as much pleasure from free activities such as walking as I do from going abroad or buying a car. I do struggle to understand what on earth some people on this board could possibly spend such vast sums of money on.

Great post. :beer:

Wenlock

chucknorris wrote: »

Is there not something that you could find that you like doing and get paid a little for doing it? For example you mentioned walking, if you also liked dogs, you could occasionally take local dogs for a walk, or maybe just look after them when their owners are at work. When I worked more hours than I do now, I used to pay a dog walker and also a dog minder to take my dog for the day, they didn't particularly do anything, just kept him company.

I could do that (I like dogs) - in fact I briefly toyed with the idea of applying for a local part time delivery job. The problem is that the idea of having to be somewhere at a particular time is irritating once you have got used to total freedom.

Ultimately I don't "need" any additional money although I am sure I could spend it if I tried hard enough!

p00hsticks

Wenlock wrote: »

I never wanted to start work & I disliked it intensely from age 17 to age 50. Work was just something you had to do to live (I have never claimed any benefits and wouldn't consider doing so other than State Pension).

I find it very sad how many people posting here seem to actively hate their jobs. Perhaps I'm easily pleased but I enjoyed most of my working life and left soon after a change of circumstance made it become less fun.

I can't imagine spending 35+ hours a week for over 30 years of my life doing something I hate just to earn enough money to spend for the rest of the week, let alone to build up a pension.

michaels

p00hsticks wrote: »

I find it very sad how many people posting here seem to actively hate their jobs. Perhaps I'm easily pleased but I enjoyed most of my working life and left soon after a change of circumstance made it become less fun.

I can't imagine spending 35+ hours a week for over 30 years of my life doing something I hate just to earn enough money to spend for the rest of the week, let alone to build up a pension.

On the other hand, eating, having a roof over one's head and providing the same for one's children mean some of us have to do things we would rather not.

Thrugelmir

michaels wrote: »

On the other hand, eating, having a roof over one's head and providing the same for one's children mean some of us have to do things we would rather not.

Life is what you make it. Your personal objectives seems way above a pure subsistence level. This in itself adds stress and worry.

p00hsticks

michaels wrote: »

On the other hand, eating, having a roof over one's head and providing the same for one's children mean some of us have to do things we would rather not.

Sure, but there is a balance, and spending your entire life hating your job seems too extreme for me. - I'v had a couple of times when I started disliking my job and each time I left and found something else.

There must be something most people could find to do that isn't too intolerable and pays for basic food and shelter, surely ? Having children is a choice .....

michaels

p00hsticks wrote: »

Sure, but there is a balance, and spending your entire life hating your job seems too extreme for me. - I'v had a couple of times when I started disliking my job and each time I left and found something else.

There must be something most people could find to do that isn't too intolerable and pays for basic food and shelter, surely ? Having children is a choice .....

Beforehand it is a choice.....

CKhalvashi

Thrugelmir wrote: »

Life is what you make it. Your personal objectives seems way above a pure subsistence level. This in itself adds stress and worry.

In fairness though, no matter what I can or can't do above very basic subsistance, I have always been really passionate about not starving to death

Wenlock

p00hsticks wrote: »

Sure, but there is a balance, and spending your entire life hating your job seems too extreme for me. - I'v had a couple of times when I started disliking my job and each time I left and found something else.

There must be something most people could find to do that isn't too intolerable and pays for basic food and shelter, surely ? Having children is a choice .....

I agree with you to some extent.

Having children is a choice and I chose not to have any - otherwise I would still be working to support them!

I am someone who would probably have disliked virtually any job. I hated school as well! Basically I find it stressful to deal with people and most jobs involve regular contact with a boss, or colleagues or the general public. That said I am sure I could have found something less unappealing than my old job.

Fortunately I am now in a position where I no longer have to work. For people like me in modestly paying jobs the only secret to retiring early is to minimise your living costs so that you can accumulate savings & assets whilst working and live on very little when you do retire. I realise that would not appeal to many people.

Triumph13

p00hsticks wrote: »

I find it very sad how many people posting here seem to actively hate their jobs. Perhaps I'm easily pleased but I enjoyed most of my working life and left soon after a change of circumstance made it become less fun.

I can't imagine spending 35+ hours a week for over 30 years of my life doing something I hate just to earn enough money to spend for the rest of the week, let alone to build up a pension.

It can become trickier as you get more advanced in your career if the problem is with the career rather than the particular employer. When the choice is to suck it up for a few more years, or to take a massive pay cut by changing completely to something you hope will be better, then the devil you know can be much more attractive.
The people who are really shafted in that position are the ones who have allowed their lifestyles to inflate along with their salaries and now have a complete dependence on the job they hate.