Regret retiring too early with not enough money?

Goldiegirl

I'm now starting my third year of early retirement, and have absolutely no regrets.


I suppose I could have 'more' money if I'd carrying on working, but I'd have never got the time back again.


I have enough money for all of my needs, and some money left over for my 'wants'


It has worked for me. It took a lot of careful thought and planning, but I'd suggest that if you really want it, don't hesitate too long. Time is a precious commodity

Wenlock

Goldiegirl wrote: »

I'm now starting my third year of early retirement, and have absolutely no regrets.


I suppose I could have 'more' money if I'd carrying on working, but I'd have never got the time back again.


I have enough money for all of my needs, and some money left over for my 'wants'


It has worked for me. It took a lot of careful thought and planning, but I'd suggest that if you really want it, don't hesitate too long. Time is a precious commodity

Absolutely

We don't know what our "expiry date" will be but it is virtually certain that the earlier you retire the longer your retirement will be. More importantly you are maximising the retirement period that is likely to be spent in good health.

frugal90

I think you have hit the nail on the head. I want to stop when I am still fit and healthy. I am a teacher, at the end of each holiday I am mentally and physically well. At the end of each term I am on my knees. Another 18 months for me and I am gone, I will be 56.

Triumph13

AnotherJoe wrote: »

I've just done a quick spreadsheet-base summation of my bank statements and the like, and those numbers are actually close enough to make the £70 a day a great place to start !

If you get sneaky the daily budget can really turn things on their head. Say you are doing a budget-busting trip to Australia, flying Garuda and changing planes in Bali. You could break your trip and spend a sybaritic 2 weeks chilling in Bali spending £50 a day all in. At first glance that's added £700 to the cost of your trip. On the daily basis though it's actually saved you £280 towards the cost of Australia.

atush

Originally Posted by justme111 View Post
I do not think the post that you quoted was about life expectancy calculations. I think it was about emotional impact that made them reprioritise.

Emotional impact shouldnt be used to make major life decisions really. Just like emotional investing is bad investing.

justme111

atush wrote: »

Emotional impact shouldnt be used to make major life decisions really. Just like emotional investing is bad investing.

Why not ? What is the purpose if life if not maximising one's happiness ? As happiness is an emotional parameter I do not see why emotional experiences can not be used in chosing the path for it. All pension planning is based on emotion -one choses a balance of work/saving/leisure time one is most happy with.

AnotherJoe

atush wrote: »

Emotional impact shouldnt be used to make major life decisions really. Just like emotional investing is bad investing.

It might not be used to make them, it may be used to make you aware of something that to date you hadn't considered seriously enough or factored into your decisions, and once you've factored it in, it may end up changing your plans.

That doesn't mean it's an emotional decision, just one made taking into account circumstances you hadn't previously considered important.

Stubod

..love this thread as we have been planning to retire "early" for the last 3 years..but always "just another year". However we have now both handed our notices in and will be leaving employment in the next month. Loads of spreadsheet calculations suggest we should be OK, (7 years to SP, but OH has small pension that can payout "now", + I have a couple of old frozen pensions that I can take when I need to). Will be living of pensions + savings and investments until SP kicks in which should give about £24k / yr + some "emergency" capital for occasional big / unplanned spends....

fatbeetle

Stubod wrote: »

..love this thread as we have been planning to retire "early" for the last 3 years..but always "just another year". However we have now both handed our notices in and will be leaving employment in the next month. Loads of spreadsheet calculations suggest we should be OK, (7 years to SP, but OH has small pension that can payout "now", + I have a couple of old frozen pensions that I can take when I need to). Will be living of pensions + savings and investments until SP kicks in which should give about £24k / yr + some "emergency" capital for occasional big / unplanned spends....

Virtually the same position as I am in.

I'm hoping to go in 1 year, at age 59. We will take my super as a lump sum, and live off that until my wife's super + my small NHS pension + my state pension kick in.

Bmth100

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.

Oh mate, I turn 30 in a month and long for retirement; just 25-35 years to go! 😂