My Journey To Early Retirement
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Today has been a NSD.
Planning on an early night as I am feeling incredible tired. So dinner, a bath and hopefully a bit of ebay listing before I fall asleep.
Also need to look at travel insurance for our holiday next months, that can be a job for tomorrow.0 -
Happy shiny new diaryI am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
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Awake early this morning, so travel insurance bought and documents printed out.0
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What level of income are you hoping for for those 5 years (55 - 60) ? Have you been tracking your outgoings for the last few years? Done a SOA?
Even if you only need say £1000 pm, that's quite a daunting amount to HAVE to still earn, month in month out.
Is it really possible to earn that much by re-selling on Ebay?? If, so I might need some tips!!
We're nervous about "pressing the button", with modest annual expenses of £13,000, and substantial savings already behind us. So that's a very brave plan you have there!!How's it going, AKA, Nutwatch? - 12 month spends to date = 2.38% of current retirement "pot" (as at end April 2024)0 -
What level of income are you hoping for for those 5 years (55 - 60) ? Have you been tracking your outgoings for the last few years? Done a SOA?
Even if you only need say £1000 pm, that's quite a daunting amount to HAVE to still earn, month in month out.
Is it really possible to earn that much by re-selling on Ebay?? If, so I might need some tips!!
We're nervous about "pressing the button", with modest annual expenses of £13,000, and substantial savings already behind us. So that's a very brave plan you have there!!
I think if I don't have a brave plan then it's not going to happen. I am confident I can make good money from my eBay business, working the hours I choose and we will have Mr ER's income to pay living expenses.
You will "press the button" when the time is right for you. Good luck.0 -
Sorry, I thought you were the main breadwinner!! As you were.How's it going, AKA, Nutwatch? - 12 month spends to date = 2.38% of current retirement "pot" (as at end April 2024)0
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Sorry, I thought you were the main breadwinner!! As you were.
Sorry,should have explained myself better.
Today has been a spend day, £3.00 to a work collection and £10.00 for petrol.
Make a payment of £3.73 to Barclaycard, I know its only small but evert little helps. We are sticking to the meal plan which is great and the fridge is emptying nicely. Will do a new meal plan tomorrow for next week and also write a shopping list for Saturday.
This evening is going to be spent registering for survey sites, which do you think is the best?0 -
Be carefull what you wish for!
I am in a fortunate position of being 56 years old and I and financially able to retire. It all looks good. Admittedly I will not be having weekly cruises and doing world tours of five star hotels, but will not be starving either.
I work for a big organisation for decades, and know a few members of staff. It is amazing to see people come back from retirement and restart work, or try to come back (some departments may not let you).
The notion of no more work initially sounds like bliss, but after 5 weeks, many end it sitting at home doing nothing, the children are off dong their own thing, and you could end up waiting to do nothing, and makes many come back.
As my friend emphasised (ex-pensions manager), before you retire, make sure you have an all encompassing hobby. Also he said he has less spare time now that he did when he worked. He is one of the extremely lucky ones. The other person that left she just goes on cruses - about 6 a year, but her life is empty and meaningless now. They both have very good private pensions of about 40k and other investments. Their partner have pensions too which is outside this figure. It is not all about money, but it does help, and it gives one choices. You still have to pay tax on that pension too
Hope your business works.0 -
Be carefull what you wish for!
I am in a fortunate position of being 56 years old and I and financially able to retire. It all looks good. Admittedly I will not be having weekly cruises and doing world tours of five star hotels, but will not be starving either.
I work for a big organisation for decades, and know a few members of staff. It is amazing to see people come back from retirement and restart work, or try to come back (some departments may not let you).
The notion of no more work initially sounds like bliss, but after 5 weeks, many end it sitting at home doing nothing, the children are off dong their own thing, and you could end up waiting to do nothing, and makes many come back.
As my friend emphasised (ex-pensions manager), before you retire, make sure you have an all encompassing hobby. Also he said he has less spare time now that he did when he worked. He is one of the extremely lucky ones. The other person that left she just goes on cruses - about 6 a year, but her life is empty and meaningless now. They both have very good private pensions of about 40k and other investments. Their partner have pensions too which is outside this figure. It is not all about money, but it does help, and it gives one choices. You still have to pay tax on that pension too
Hope your business works.
I think I will be one of the busy ones and there wont be enough hours in the day.0
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