Another sanity check

waveydavey48

I was all set to jump in and offer my opinion until I saw your up-date of 14/6/19.

Less relevant now but I'll pitch in anyway. I was going to say you appear, IMHO to have enough to go now so do it asap. I say that having had an apparently healthy friend who worked for 40 years then dropped down dead at 57.

I downshifted to a little part time job 5 years ago having gradually gone from loving my career to loathing it.

As regards switching to spending mode I am with you. I suspect that you, like me, just worked and automatically saved all your working life and the idea of taking it out rather than putting it in just feels wrong.

It's an old chestnut but how many people died wishing they had spent more time at work.

enthusiasticsaver

Ok_for_now wrote: »

Quick update - gave up full time role and now working part-time in a very different job - what a difference! Very glad I made the jump (and plan to continue working till at least 60 if I can), though a difficult decision at the time and took months to decompress (including time to adjust to not having the comfort blanket of much higher earnings).

Still planning to take DB pension at 60, and now working out what to do with the rest (£320k), as will need to top up my income. Finding the thought of withdrawing sums very difficult as have saved for so long (may need some therapy to help switch to spending ..... or may just need a bigger number?). Anyone else had this issue and how did they tackle it??

I found it difficult to go from a saver to drawing down on savings Especially since we had to buy a car for DH as he had a company car before retiring, then we booked a few holidays and put a new kitchen in. This year it is new bathrooms but neither of these things had been done for 20 odd years. I did the maths though and due to our essential outgoings and more being covered by DB pensions with state pensions to come we figured we should take holidays while we are fit enough to enjoy them and get maximum use out of our home improvements so I am learning to relax a bit about drawing on savings. Ultimately we have the house and our investments should we need to draw on them. We have helped our daughters with houses so I will feel no scruples about using our remaining assets to maintain a comfortable retirement should it cost more than our pensions.

Pensions_matter_2

Thank you for all your helpful comments.

Yes, health issues can certainly be an eye opener, and, sadly, most often people don't think about it till it's too late. I need to keep that in mind. I can relate to gradually moving from getting a lot out of my job to not understanding why I ever liked it at all! Perhaps putting in too much for too long has that effect? I think switching to spending is going to have to be a gradual change, focussing on enjoying the fruits of hard work and making the most of current good health. Looking at the pot as extra to fill the gap between now and SPA makes complete sense and will help with that. It's a good way to look at it, thanks.