What do I say....

longleggedhair

Hi all,

I am considering "very" early retirement next year when my contract at work finishes. I could renew it for another 4 years but due to my health I don't think I can or want to renew it.

After many years of saving hard I have more than sufficient capital to live on the income until I get to my Private Pension (in my late 50s I'm assuming).

I will be 40 when I finish, however if I do leave work and take it easy what do I tell people when they ask me what I do!! I don't want to go into big detail about my health and certainly I don't fancy telling people I have money so don't need to work...as I've always been a very private person and tried to give the impression I'm "struggling" to avoid people asking for money, however a person is almost completely judged and defined by what they do for employment.

Any thoughts??

Sipowicz

A person of independent means?

Thrugelmir

Good luck. Hope you've got the figures right. Remember inflation erodes buying power over time.

Rosieandjim

It is nothing to do with anyone else what you live on. Cant you just say you have retired early and leave it at that. Or between jobs and leave it open ended.

longleggedhair

Thrugelmir wrote: »

Good luck. Hope you've got the figures right. Remember inflation erodes buying power over time.

I think I have as much as is possible. I have a very low cost base as I have always been a frugal person. The income (dividend & interest) more than covers my living costs. The other way I look at it is even if I received no return on my investments at all and just used the capital it would provide me with £1000 a month until I get my pension.

Thrugelmir

longleggedhair wrote: »

I think I have as much as is possible. I have a very low cost base as I have always been a frugal person. The income (dividend & interest) more than covers my living costs. The other way I look at it is even if I received no return on my investments at all and just used the capital it would provide me with £1000 a month until I get my pension.

Investments can drop in value. Dividends aren't guaranteed either.

Rosieandjim

I applaud you for your forward planning and what a wonderful position to be in. Who would you envisage asking these type of personal questions about your finances?


A relative of mine did the same but at 50, he also was very frugal and what he lived on would have left most people open mouthed. Being out of the stressful workplace was the deciding factor. As his hobbies don't take much money it is amazing what he manages to save. Also now that his state pension has kicked in he feels like he has won the lottery. He has always lived simply and has reaped the benefits of being able to retire early.

A_T

say you're an international secret agent

Rosieandjim

A_T wrote: »

say you're an international secret agent

:beer::rotfl::rotfl::rotfl:

westv

Rosieandjim wrote: »

It is nothing to do with anyone else what you live on. Cant you just say you have retired early and leave it at that. Or between jobs and leave it open ended.

I'd say early retirement. "Between jobs" sounds like unemployed.

Number75

I would tell the truth - I live off savings and modest investment income, which I worked towards as a plan when I was younger. No, I can't lend you any money.

If people do judge and define a person by what they do, I'd be judging positively for that! Both the drive to achieve it, and the ability to be happy and not chase every last penny.

If you are having to pretend now that you struggle to stop people asking for money, you need to lose those people from your life. Learn to say no.

If you really want a cover story, what do you do now? Is it something that you can turn into a fake vague freelance position?