Busy Mee's Last Leg

savingholmes

Good luck with your goals. I am a basic rate tax payer as is DH and we are debating the relative merits of ISA savings versus pensions... That too feels complicated.

Suffolk_lass

savingholmes said:

Good luck with your goals. I am a basic rate tax payer as is DH and we are debating the relative merits of ISA savings versus pensions... That too feels complicated.

The biggest difference from a self-investor perspective is that you can claim your income related tax back on what you put into pensions, but it means it is there until you are at least 55. If it is an employer pension you need to check if they match your contributions beyond the basic salary deductions.

In contrast ISAs are (just) a tax free wrapper so your gains are protected from tax, and movement between ISAs are protected similarly

LadyGnome

Amazing progress in 2020 and great plans for 2021. 

I think it is a MFW requirement to have complex rules and at least one spreadsheet. 

Busy_Mee

Good Morning. Back to work yesterday and I had a reasonably quiet day, however it is likely to get busier as the week goes on, and suck me back in. In the meantime, I will try and stay here as long as I can.

My cunning plan to drop to working four days a week has failed miserably. My boss is not happy. He said it is not a no but he will need to consider it and think about the impact on the business etc etc. Given I haven't worked on a Friday for around 6 weeks and there has been no impact, not sure that is an argument. I have told him I will be flexible and dial in to any urgent meetings that require me on a Friday or work if necessary. He says I carry on informally having Fridays off using leave and he might consider alternative Fridays. Funnily enough I am not too disappointed as this will just make my retirement decision easier.

I have been trying to unpick why I am finding it so hard to make my retirement decision and basically it comes down to good old fashioned fear. I grew up with a good deal of financial insecurity and I don't want to be there again. Rationally I know we will have enough money but losing my decent salary does make me feel a bit scared. There is something very comforting about know you can just throw money at any problems.

I have tried to think through what "problems" might crop up. Things like the roof blowing off or the car getting stolen should be covered by insurance. I've worked out what happens if one of us dies. This would mean less income, but there will be insurance money and the house to downsize. Both kids are sorted housewise now (DD getting hers will be a big tick off my worry list), we can cover weddings, holidays and a new car or two ( but shush don't tell Mr Mee that bit). So basically we can do it.

The other thing making my decision hard is my guilt at letting people down. My boss's reaction to letting me drop to four days has helped with that, and I can try an influence decisions about my successor. But I am very aware that other people look after themselves and I need to do the same.

I think I am getting nearer to making the decision. I am thinking about finishing at the end May so I get the Summer and hopefully we might be back to some semblance of normality. 

Sorry for the ramble folks, it just helps to clarify my thinking. I know I am very boring on this subject 

Anyhoo. On the financial front, all the money shuffles have been done and a TT a day has been done in 2021. I am also going to start tracking spending again, although January is going to be an unusual month. Hopefully DD will get her house at some point and there will no doubt be some spending there, she also has a Birthday but it will be a lockdown affair now.

I am struggling for any positive plans for this lockdown. I clearly need to dig a bit deeper. Let's hope the universe invokes the contingency plan of some bright, crisp January days x

Suffolk_lass

You sound like me, agonising over when to finish work. When I put mine in, I did it in relation to the big vote accepting things and rendering my project redundant, to minimise the impact on others. I need not have agonised. In February it will be two years since I finished and they are still going. I get the occasional message along the lines that only I could have fought off a bit of nonsense from a no-nothing bright young newby trying to make an impression but life really does go on. While I care passionately about public service I have ceased to fret about the minutia of my responsibilities and role.

I believe that to some extent I validated myself by my job. This was reinforced by the veil of disinterest facial expression by some colleagues as I could see them write me off after my decision to go became a little more public. In contrast, some of a certain age came through to talk excitedly with me and some took the trouble to say how much they valued me, even to thank me for long-forgotten (by me) things I had said or done. My senior management all fell into the first category, perhaps because their own positions existed because they had latterly managed their careers by climbing on the shoulders of those who actually do the delivery, actually write the stuff, who actually implement the changes.

Turning to the other side of the coin, my health and wellbeing, Mr SL and I having a solid relationship (based on friendship, companionship, and loving each other) has benefitted, our financial outlay continues to fall, reassuring me that we can do this, we are safer, fitter, healthier and enjoying not working, albeit with less travelling than planned. I continue to save so that big things are covered but accept that overall capital might fall a bit more than I would like (buying our van, building our out-building, buying e-bikes are all capital things. Living within our income is comfortable). Other things have come in. Friendships locally, different hobbies and interests that I never had time for. 

You really need to do it for yourself. And I promise you won't regret it.

themadvix

Feel free to ramble Busy Mee. I totally get the guilt thing (I hate letting people down and got quite upset when I left my last, very part-time job), but you do have to do what's right for you - as SL says, they'll carry on without you. It's disappointing that your boss isn't prepared to be more flexible, but you're right to see that as a sign.

If you've wargamed it and you're still OK financially, then it's time to let go!

SL, you sound so blissfully happy - I hope that's what life is like for us once we retire (unfortunately many years away!).

South_coast

Nothing new to add, as they've said it all already! It's time to put you first x

bit_by_bit

I am with Suffolk_lass on this. I am retirning in March and was stressed about the decision. I am more accepting now as I am not indispensible! All the best with your plans

savingholmes

Good luck whatever you decide. You could put in a formal request and make them formally give a yes or no...

Busy_Mee

So the Universe has indeed invoked it's contingency plan of some clear, bright frosty days this week. We have had some beauties and today was no exception. We had a couple of inches of snow last night and a bright crisp day today. 

My walk with the pup was an absolute joy in a winter wonderland . We did just under 4 miles and I took around 20 great photos. The ground has frozen and for once we are not having to battle through the sludge.

My only bugbear at the moment are the filthy humans who are throwing their half eaten takeaways out of their car window around our local beauty spots. Unfortunately these are very attractive to a greedy Labrador and leftover curry makes him ill. I also can't get him back when he has such treasured contraband, it's a blooming nightmare.  Today's find was a whole small uncut loaf (!!!!!! !) not too much of a worry if he eats bread but he did did look funny trotting along with it in his mouth.

I have managed a decent 3-5 mile walk everyday except Thursday (work was wall to wall) and my diet has been good. I braved the scales of doom this morning and I am 2 lb heavier than I was at the end of November. Hopefully I can shift that this week.

Nowt much to report financially. I am back to tracking spending again and we have had four NSDs this week. I had got into a " two supermarket shop" a week routine last year and I am trying to go back to just one. I had a list for this morning but decided there was nothing urgent that couldn't  wait until Mr Mee goes on Monday. Mr Mee just walked to the local shop to get the paper. We just buy a paper on Saturday as it has the TV listings, magazine and Mr Mee's sudoku and crosswords. It lasts us all week 

I have ordered some gifts for DD's birthday. At her request, a new dog bed and nice bedding for her new house. I also ordered a kettle and toaster. The kettle is more for me, as they don't drink hot drinks and I regard a cup of tea as a basic human right   I am thinking of doing an afternoon tea with fizz for her Birthday, with the addition of the obligatory Colin the Caterpillar cake. Apparently you are ever too old for one !