Retiring early

nannywindow

Hello,
Just found this thread and wanted to wish you good luck in your forthcoming retirement.
My DH retired at 58 after being made redundant twice, first time after 33 years and the second after 8 years. I also decided to retire ( also at 58 ) although I only worked part time after my daughter was born.
We are living on our private pensions which aren't very large but we do have savings to boost our monthly incomes. We worried whether we would manage financially but on reflection it was the best thing we could have done as my DH was diagnosed with incurable cancer two years ago. So we live day to day and within our means but if we want to go on holiday we make it happen as we don't know how long we will have left together.
What I'm trying to say is no one knows what's around the corner so make the most of your time on this earth in your own way whichever way you choose.

nan

[Deleted User]

I retired in 1995 and my OH and I downsized and I never regretted it We had another 8 years together which we enjoyed very much until I sadly lost him to a heart attack in 2003 We decided when we packed up work to make a list of all the things we fancied doing and work our way through it over the years The only thing we didn't managed sadly was to see his county cricket team Hampshire play at Canterbury and beat Kent . But we had a great 8 years and did some lovely things not all of them expensive ,often it would be something as ordinary as just going for a walk in the local country park with a hot chocolate or cuppa if the weather was bad. I wouldn't have swapped it for extra years at work and I am glad we managed to have our last years together doing what we wanted to and often just pottering around .

Litchielou

DH finishes work last day of February and I finish mid march we both can't wait to start our new way of life. We have hopefully put a financial plan in place. We will not be millionaires but our income will be nearly equivalent to DH wage (will lose mine)we have savings and no debts. If our sums add up we will be able to have a couple of holidays a year. Will be looking for deals as we can go anytime.
We downsized a few years ago and most of the big items have been replaced.
I thank everyone for their advice to retire. I lost a dear friend last week so more determined than ever.

4 weeks to go.xx

Jessiebelle

So sorry to hear of so many bereavements. I wish you all the very best of luck.

patentgirl

Loving this thread Litchielou congratulations and good luck for your forthcoming retirement I am enjoying reading everyone's early retirement answers it is my dream we are same ages as you both I am continually trying to talk DH into going earlier than we planned at 62/60 we both have stressful jobs DH drives 1000 miles a week his dad died at 59 both have private pensions his a lot better than mine we have been squirrelling away savings in a retirement account but he still unsure of how we will manage think I will show him this thread that it can be done!! Thanks everyone

Litchielou

Patentgirl we will not know if we have enough money until a couple of years down the line, but what is enough. (Hopefully got enough savings) Will let everyone know then.
My DH has a stressful job and this has led to a few MH issues, so we have decided to finish now while redundancy is being offered.
I am also feeling positive that we are doing the right thing after reading all the posts.
If you can, go for it because sometimes tomorrow never comes, which has happened to a few of our friends in the last year.

4 weeks and counting.xx

Litchielou

Our dates for finishing work are DH 10th march and I'm the 8th, having a drink with work colleagues and immediate family on the 10th. Already planned a few days away. Lots to sort before we leave.
So looking forward now.

I have joined u3a club near to where we live, hubby has a summer sport where we have lots of friends. The garden is in need of a rethink. Places to go things to do, don't know how we will fit everything in. DH says he wants to learn to cook properly (grandchildren still laughing at this)


Must be a good sign for retiring as the 8th is our eldest grandsons 12th birthday.

Art_Deco

Litchielou wrote: »

Our dates for finishing work are DH 10th march and I'm the 8th, having a drink with work colleagues and immediate family on the 10th. Already planned a few days away. Lots to sort before we leave.
So looking forward now.

I have joined u3a club near to where we live, hubby has a summer sport where we have lots of friends. The garden is in need of a rethink. Places to go things to do, don't know how we will fit everything in. DH says he wants to learn to cook properly (grandchildren still laughing at this)


Must be a good sign for retiring as the 8th is our eldest grandsons 12th birthday.

:j Good luck sounds like you will have lots to keep you busy , just had to google u3a , never heard of it before but unfortunately none near us.

pink68

Hi Litchielou,
Just wanted to pop by and say I'm following your thread with interest. I'm 48 and would love to retire within the next ten years. Unfortunately both mine and DH's parents all died young (3 of them before 60) so I'd like us to retire before we drop dead!

I'm particularly interested in how much less you spend because you're not at work. Hubby says I can retire when the mortgage is paid off so I need to find some money to chuck at that but with two teenage children, one at Uni and one planning to go to Uni, there is no spare cash at the moment.

I hope you have a wonderful time!

LameWolf

pink68 wrote: »

I'm particularly interested in how much less you spend because you're not at work.

Money saved:
£££ on petrol - DH was driving 64 miles a day, 5 days a week, just to and from works; so instead of filling the car 2 to 3 times a week, now a tankful does a good three weeks, if not a tad more. Plus of course wear and tear on the car - eg tyres last a lot longer due to greatly reduced mileage being done.
Food: although we're eating roughly the same amount, it's working out a bit cheaper because we're just putting our food onto plates and eating it at home, whereas before I had to always have stuff suitable for DH's lunchbox to hand.
Washing: DH is no longer wearing a clean shirt every day and clean trousers every 2nd day then changing into jeans and t-shirt in the evenings. So at least one WM load less each week.
Clothes - no longer buying office clothes for DH at all!
No more "work incidentals" like cream cakes on birthdays, collections for retirement/birthday/maternity presents, and the "compulsory donations" for things like Jeans for Genes day.

Costing more:
Loo rolls - seem to disappear at a rate of knots now!
Water: loo is being flushed more often (see above).
Electric - DH seems to be permanently welded to the pc each day til I prize him away from it!