How to cope with work in run to retirement

Spreadsheetman

I sympathise with the OP. I'm in the middle of a 2-year wind-down myself and it's dragging. I have found that the more I think about it the worse it is, so I attempt to distract myself with interesting work projects and hobbies outside work.

Sickness in the family has also taken my mind off it to a certain extent, but that is not something I'd wish for.

The main worry I have at the moment is caused by the state of the brexit debacle. I am pretty concerned about retiring into a smoking ruin where the UK economy once was - or into a confiscatory and punitive far-left Labour regime - or more likely both. I've discussed working part-time into 2020 to try and get a bit further past the worst of it before I have to start relying on investments, but who knows when it will settle or whether I can even bear to continue working in my current job.

crv1963

Spreadsheetman wrote: »

I sympathise with the OP. I'm in the middle of a 2-year wind-down myself and it's dragging. I have found that the more I think about it the worse it is, so I attempt to distract myself with interesting work projects and hobbies outside work.

Sickness in the family has also taken my mind off it to a certain extent, but that is not something I'd wish for.

The main worry I have at the moment is caused by the state of the brexit debacle. I am pretty concerned about retiring into a smoking ruin where the UK economy once was - or into a confiscatory and punitive far-left Labour regime - or more likely both. I've discussed working part-time into 2020 to try and get a bit further past the worst of it before I have to start relying on investments, but who knows when it will settle or whether I can even bear to continue working in my current job.

I think the key is to find an interesting distraction either in the work place or if that is not possible outside of the work place.

Sorry to hear about the family member with ill health, but someone being ill does reinforce that we are all mortal, it was ill health- now resolved- that made us (well tbh me mainly) focus on getting us into a position of being able to retire asap.

As for Brexit debacle and the possibility of an extreme left wing government, there will always be something to worry about, they all want to be elected and being seen to punish ordinary folk would not win votes, they may tinker but it is my personal view that no one will be confiscating whole pension pots.

Given the housing situation both parties are likely to go after landlords, Labour probably more punitively than the Tories.

Edit- to correct poor spelling!

shinytop

they may tinker but it is my personal view that no one will be confiscating whole pension pots.

I agree; in terms of pensions Labour would try and make it a bit harder to achieve a comfortable retirement and a bit easier to achieve a manageable one. Whether they'd succeed or not is a different story.

And I don't think even JC could completely decimate a decent investment portfolio given the relatively minor effect the incumbent government's ineptitude has had.

justme111

crv1963 wrote: »

live on a pension of around 16k pa, or stick to my preferred plan of working another 3 years and retire on 24k pa?

!

16 pa? I take it is work pension. Don't you have other pensions and savings? Besides from 67 on you would have 7 k SP and your income is not the only in the family- your wife's wages/ pension must exist as well I am sure so saying "retiring on 16 k" is misleading.

crv1963

justme111 wrote: »

16 pa? I take it is work pension. Don't you have other pensions and savings? Besides from 67 on you would have 7 k SP and your income is not the only in the family- your wife's wages/ pension must exist as well I am sure so saying "retiring on 16 k" is misleading.

Sorry for the lack of clarity, yes that is a DB work pension 16.5k pa, but as the plan is for us to go into "proper retirement" together, we're trying to boost Mrs CRV DC pot, at its' current standing of 100k we need to boost it. The plan is to draw down her pot 55-67 up to the tax allowance limit.

We have emergency funds, but started late in the day with pension planning for Mrs CRV and after later life divorces then our own marriage to each other we do still have (for us) a hefty mortgage.

We will both get full SP if we work another few years, so we'll have increasing income as we age, hence we aim to run her DC pot down faster than would be wise if she was alone or only dependent on it and SP for old age.

JoeEngland

Spreadsheetman wrote: »

I sympathise with the OP. I'm in the middle of a 2-year wind-down myself and it's dragging. I have found that the more I think about it the worse it is, so I attempt to distract myself with interesting work projects and hobbies outside work.

Sickness in the family has also taken my mind off it to a certain extent, but that is not something I'd wish for.

The main worry I have at the moment is caused by the state of the brexit debacle. I am pretty concerned about retiring into a smoking ruin where the UK economy once was - or into a confiscatory and punitive far-left Labour regime - or more likely both. I've discussed working part-time into 2020 to try and get a bit further past the worst of it before I have to start relying on investments, but who knows when it will settle or whether I can even bear to continue working in my current job.

I think that's my problem too, I think a lot about how many months there is left and it drives me nuts.

As for Brexit, it's too early to know what the longer term impact of it will be. I suspect it won't be as good or as bad as people who are staunch Brexiters or remainers think. None of us knows what the long term future will be in or out of the EU anyway.

Thrugelmir

shinytop wrote: »

And I don't think even JC could completely decimate a decent investment portfolio given the relatively minor effect the incumbent government's ineptitude has had.

Needs to fund the manifesto promises from somewhere. I don't see international investors being keen on lending unless it's at a high rate of interest. Which would hit portfolios for six.

shinytop

Needs to fund the manifesto promises from somewhere. I don't see international investors being keen on lending unless it's at a high rate of interest. Which would hit portfolios for six.

True but even our Jezzer can't cause a whole-world recession. Can he ...?

Ganga

Having read all of these posts what sticks out to me is the number of people who are unhappy with their jobs,why do they not move to a job/company that gives them some job satisfaction/less stress etc.
Whilst i know it is not allways that easy to "move on " i for one could not stay in a job that made me feel that bad,i did work on after 65 before anyone says anything.

Parking_Trouble

crv1963 wrote: »

Well my first visit to my old Team, was interesting, no Christmas decorations up, my old role was putting them up and was asked if that was why I'd gone in! Made very welcome and asked if I was intending to return!

Saw my old boss who was keen for me to re-join, she'll have a think of how to juggle the budget around and see if she can manage to fund a part time post. Apparently I am missed which was nice to hear. Also they are struggling to fill some of the Nursing vacancies.

If I wanted full time then I could but was clear that I'm not interested in 5 days a week- that would lead to my early demise and why I left in the first place, feeling worked to death. I'm also enjoying days off during the week.

It's a trap!