Regret retiring too early with not enough money?

ThePants999

Teapot55 wrote: »

we too are making haste slowly

I approve of this concept.

jamesd

atush wrote: »

He went int he 70s not 60s, and I think the % was higher.

And he wasnt from the privileged private school, but took the 11+ and went to the local grammar. ... First in his family to go on to higher education.

Yes it may well have been higher, depending on just when in the sixties, early or late. There was a big increase in count in the fifties and sixties, fairly stable seventies then another big increase in the eighties, with these numbers for total higher education participation, including polytechnics and other, not just universities:

1950 3.4%
1970 8.4%
1990 19.3%
2000 33%

Page fourteen shows number of university degrees awarded, page 13 number attending all higher education.

Another source, this IFS report, shows a steady increase from about 5% in 1960 to about 14% in 1970 then stable in the 12-14% range until the huge surge that started around 1989. Chart is on page 5. I don't know why the sources differ.

Like him, I was the first in my extended family to go to university, still the only one in my generation with a degree, and went the eleven plus, grammer school then university at the start of the eighties path. Something like 10% of my junior school class passed the eleven plus, not a good part of town. I was top of that class, courtesy of a teacher who three years earlier had paid me enough attention to switch my own path in that year to top as well. Wasn't so highly rated later, the quality of the competition just wasn't very high.

jerrysimon

Although I started work at 16 in 1977, I did end up going to Uni (Newcastle) in 1981 though dropped out after a year. It was a very memorable year

Jerry

Teapot55

Originally Posted by Teapot55
we too are making haste slowly

ThePants999 wrote: »

I approve of this concept.

"As the ancient Romans said, 'Festina lente'" (from Gilbert & Sullivan's Iolanthe)

ermine

k6chris wrote: »

Equally has any regret been derived from 'missing work'? That little voice on my shoulder is still saying "you'll regret it" but for the life of me I don't know why?

Thanks

I personally haven't regretted retiring early, indeed my one regret is not sorting myself out and seen the light earlier, but what the heck. For an example of someone who didn't enjoy being retired take a look at Jim SHMD who tells you why.

If you are all about work and family while working and have few outside interests, pastimes or hobbies you may find the transition tougher because there is a lack of hinterland. I'm not saying this is necessarily the case for Jim - some people are all about work in which case the obvious course of action is don't retire

atush

Ok, here is someone who has retired w/o enough money:

https://forums.moneysavingexpert.com/discussion/5601400

No occupational pension though, so probably should have kept working and saving?

mbeamethyst

I've very recently and unexpectedly retired due to ill health. Although the process had been ongoing for months, I couldn't really plan for retirement as I didn't know if it would actually happen till the notification came through.

My issues aren't around money as my other half is still working and are free of debt/mortgage so are comfortable in that respect, but I'm still adjusting to my days not having the same purpose they did before and I have been a bit worried about how I would cope with the change.

It's been really helpful to me to read the posts from those who are filling their days with simple pleasures and really enjoying it as, because of my health circumstances, at least for the forseeable future, that too is what my days will be like.

I had been concerned that it wouldn't be "enough" to live such a "small" life but now I'm more determined to see the joy in the simplest of pleasures and appreciate the freedom/lack of stress that not working will bring.

So thank you to those who posted their simple pleasures for helping me feel more positive about being retired.

Ganga

atush wrote: »

Ok, here is someone who has retired w/o enough money:

https://forums.moneysavingexpert.com/discussion/5601400

No occupational pension though, so probably should have kept working and saving?

atush,i read the complete post and allthough she did not have a second pension she owned a £300000 house and had about £50000 in savings,not entirely skint.

justme111

Well , it was not enough for sustainable living for years to come at the standard the poster would wanted. I am not sure she fits into "retired too early" description though as we have no idea of how her circumstances happened, one bit of info was that her husband has died unexpectedly I believe. Still far from breadline , I agree and in any case she could live the way she wanted to for a few years ; I think she just was trying to optimise using her resources rather than deal with immediate lack of money for her living standards.

atush

Ganga wrote: »

atush,i read the complete post and allthough she did not have a second pension she owned a £300000 house and had about £50000 in savings,not entirely skint.

Never said she was skint right now, but in 4-5 years she will be at the rate she is blowing thru those savings. Esp as her income is not sufficient to cover her outgoings, and she does not want to move.

Perhaps you need to go back and re read it?

She retired w/o enough income- which was the question in the OP.