Regret retiring too early with not enough money?

Triumph13

kidmugsy wrote: »

If I wanted to spend time somewhere in the subtropical dry season I'd go to Queensland. You have to beware of the crocs, snakes, jellyfish, spiders, sharks and so on. But the humans are much less of a risk than in Florida. And Ozzie nature is "another planet".

The really vexing thing is that the time you desperately want to leave Northern Europe because it's too cold, is the time you really don't want to be in Queensland because it's too hot!:mad:

mgdavid

atush wrote: »

I am really disappointed that all i hear on UK forms is about how Florida is dull and/or theme parks etc.

There is a whole other Florida out there, whatever you like to do. Stunning boating, fishing, nature. And shopping, dining and nightlife too.

FL is very diverse if you go looking for it;
Sebring
Daytona
Dali at St Pete
Everglades
the Keys - nearly forgot the Keys! one of the finest sunsets I've ever seen was on a campsite on a beach on Key Largo.
would love to go back to key West one day,we thought it had a really good vibe about it.
etc

BoxerfanUK

Eco_Miser wrote: »

I retired six years early, with sufficient savings to continue my naturally frugal lifestyle.
Far from being bored, seven years on I've been so busy I only managed one trip to Whitby this year .

I just love that username... wish I'd thought of it :-)

zagfles

mgdavid wrote: »

FL is very diverse if you go looking for it;
Sebring
Daytona
Dali at St Pete
Everglades
the Keys - nearly forgot the Keys! one of the finest sunsets I've ever seen was on a campsite on a beach on Key Largo.
would love to go back to key West one day,we thought it had a really good vibe about it.
etc

Sure does - Key West is just a big party where everyone is really friendly and wants to share a drink and have a laugh with you. Reminds me of Ireland in a way- but with better weather

I did a list of things we did in Florida on the travel board a few years ago... http://forums.moneysavingexpert.com/showpost.php?p=54098043&postcount=16 Definitely going back one day...

Xbigman

The warehouse I work in has a lot of long timers all getting older. Me amongst them. Every few months someone retires and there's always a lot of interest on how they get on.
What is clear is that those retirees who had a financial plan are far happier than those who didn't. Whether its a big financial plan or a small one doesn't seem to matter.

Spending your entire lump sum on a camper van you then don't use didn't work out too well. Likewise doing up your house and running out of money was a route to misery as well. And everyone who bought a new car regretted it.
If you are content living on less than you earn, and less than your pension and don't 'want' to keep working, then don't.



Darren

k6chris

Xbigman wrote: »

The warehouse I work in has a lot of long timers all getting older. Me amongst them. Every few months someone retires and there's always a lot of interest on how they get on.
What is clear is that those retirees who had a financial plan are far happier than those who didn't. Whether its a big financial plan or a small one doesn't seem to matter.

Spending your entire lump sum on a camper van you then don't use didn't work out too well. Likewise doing up your house and running out of money was a route to misery as well. And everyone who bought a new car regretted it.
If you are content living on less than you earn, and less than your pension and don't 'want' to keep working, then don't.

Darren

Brilliant post and insight, thank you.

chiefie

Anyone got any stories of how much they or someone they know underestimated THEIR need in retirement - this is the scenario I need to avoid. Part of me thinks I'll spend less on bits and bobs but miss the big items

moneyistooshorttomention

On that tack - at an everyday living angle - some people will have been having things like cheaper food and/or cheaper clothes/etc than they would have chosen for years. Come not so much "retirement" - but being "retirement age" then be prepared for simply not being willing to make those economies any longer.

The person who likes food - but has been economising - might well think they aren't prepared to economise on food any longer and start buying what they really want (albeit not luxury by any realistic definition - but definitely dearer than economy food).

Women who like nice clothing might well be planning on buying something more "attractive/elegant/that bit better quality" (as your looks need all the help they can get from that as one gets older - whereas cheaper clothing was okay when hair was its original colour/figure was slim/no wrinkles/etc/etc). So - you tend to think "Well - at least my clothes will be decent quality and make the best of things for me".

Robin9

I did my sums when I took a redundancy/retirement package at 54 (now 67) - paid off mortgage, adjusted monthly income and life insurance termination dates.

Took a part-time job within walking distance.

All looked very rosy then came a) the crunch and b) my wife's illness. You can't foresee the future.

One thing you may miss with a reduced income is replacing cars.

What does go up is utility bills !

Overall - not regretted it at all.

p00hsticks

moneyistooshorttomention wrote: »

On that tack - at an everyday living angle - some people will have been having things like cheaper food and/or cheaper clothes/etc than they would have chosen for years. Come not so much "retirement" - but being "retirement age" then be prepared for simply not being willing to make those economies any longer.

The person who likes food - but has been economising - might well think they aren't prepared to economise on food any longer and start buying what they really want (albeit not luxury by any realistic definition - but definitely dearer than economy food).

Women who like nice clothing might well be planning on buying something more "attractive/elegant/that bit better quality" (as your looks need all the help they can get from that as one gets older - whereas cheaper clothing was okay when hair was its original colour/figure was slim/no wrinkles/etc/etc). So - you tend to think "Well - at least my clothes will be decent quality and make the best of things for me".

For me so far it's been the opposite. When working I bought ready made shop sandwiches for lunch and the occasional coffee when travelling, justifying it by saying that I was "cash rich and time poor". I also had to wear smart clothes for the office.

Now I can always wear the casual clothes I used to wear at the weekends anyhow - no more need for expensive 'power suits'. And I make my own cheaper lunch - although we sometimes go out to our local chinese buffet, which is about half the price at lunchtime as it is in the evenings so we can go twice as often as we used to!

We also go to the Odeon 'silver cinema' performances during the day - £3 including tea/coffee and biscuits so that's considerably cheaper too.