Can I afford to retire at Xmas?

atush

If you are spending 200K of your 250K cash on a house, i think you need to work a year or two longer.

As you will be travelling, that 50K wont last long.

I w ould decide where, and what to buy before you make any retirment moves. And if travelling, a flat could be a better idea than a house.

fatlaksh

I retired just over 12months ago age 53 to spend more time in the hills and cycling. In my first year I spent 21k, the largest expenditure item by far was holidays. My total assets are similar to your own although my asset mix is different. I also have a 12k DB pension due age 60. Personally I would prefer to own a property and rent it out rather than hope the property market cools. I continue to work occasionally for my former employer, on average 2/3 days a month earning £250. I'm not ready to start spending capital yet and I quite enjoy the variety it adds to my life. Go for it, I haven't regretted it and if things don't work out as you hope then there is always the option of a bit of casual work.