Plotting for an early retirement - anyone want to join me?

Techno

We are definitely the sandwich generation with children relying on us well into adulthood and parents living longer with associated decline in health or mobility also relying on us.

Snowdrop is there anyone else you can get to help you with frail parents so you can get a little bit of travelling done?

Mrs_Z

Came across this article today which really struck the chord with me and I'm sure will with many others: https://collectingwisdom.com/life-is-about-finding-fulfilling-work-not-saving-up-enough-money-to-never-work-again/
I specially liked the 3 quotes - so true and something to be mindful of
"We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein

“What humans need and want isn’t a complete release of tension and responsibility, but the pursuit of a worthwhile goal that they chose freely.” – Viktor Frankl

“Fall in love with some activity, and do it! Nobody ever figures out what life is all about, and it doesn’t matter. Explore the world. Nearly everything is really interesting if you go into it deeply enough.” – Richard Feynman

I think that's precisely how I think of retirement. To have the time to do something that's meaningful (to me) and not being handcuffed to an office desk 8+hrs a day. On the personal journey update side... this is a first month when I'm experimenting how it would feel to live on with the monthly sum that I have in mind and have used in my plans. I have to say it felt like going through a cold turkey when I cleaned the current account of any other money and the balance seemed almost pitiful! But so far so good .... spending is on target

Alice_Holt

Mrs_Z wrote: »

Came across this article today which really struck the chord with me and I'm sure will with many others: https://collectingwisdom.com/life-is-about-finding-fulfilling-work-not-saving-up-enough-money-to-never-work-again/
I especially liked the 3 quotes - so true and something to be mindful of
"We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein

“What humans need and want isn’t a complete release of tension and responsibility, but the pursuit of a worthwhile goal that they chose freely.” – Viktor Frankl

“Fall in love with some activity, and do it! Nobody ever figures out what life is all about, and it doesn’t matter. Explore the world. Nearly everything is really interesting if you go into it deeply enough.” – Richard Feynman

I think that's precisely how I think of retirement.

And me.

I was fortunate to get a redundancy / early retirement package from a job I didn't much enjoy at 51.
Opted to do some voluntary work with my local Citizens Advice, and found a great bunch of people who were focused on helping their community.
I'm still with Citizens Advice (in a different locality) some 15 years on, having worked on various funded part-time projects. My colleagues are lovely, and the work (although difficult at times) is very satisfying.
In both offices there is / was a great camaraderie, born of common purpose, respect, openness, mutual support, and humour.

I certainly didn't expect to be working past my SRA, especially with no financial necessity to do so!

Anonymous101

Really good article Mrs Z. Thanks.

I like the point "its not the work I hate, its the environment its wrapped in". That's exactly how I feel. I enjoy my work but I hate the commute and the fact I've got to be in a designated location for 8-9 hours a day Monday - Friday. If I could do it on my own, or more convenient, terms I'm sure I'd think about it very differently.

Snowdrop08

Techno , thanks for the reply. Well, we’re an “open sandwich “ then - no children of our own! I do have two sisters but, to be fair, they live 2/3hrs away versus half- hour. We do feel very lucky to have enjoyed 5 past summers of travelling over the previous 15years, but want to look at it as a way of life whilst still young enough. My parents care for each other really and are fiercely independent. But if/when things change we need to be nearby ASAP.

JoeEngland

Mrs_Z wrote: »

Came across this article today which really struck the chord with me and I'm sure will with many others: https://collectingwisdom.com/life-is-about-finding-fulfilling-work-not-saving-up-enough-money-to-never-work-again/
I specially liked the 3 quotes - so true and something to be mindful of
"We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein

“What humans need and want isn’t a complete release of tension and responsibility, but the pursuit of a worthwhile goal that they chose freely.” – Viktor Frankl

“Fall in love with some activity, and do it! Nobody ever figures out what life is all about, and it doesn’t matter. Explore the world. Nearly everything is really interesting if you go into it deeply enough.” – Richard Feynman

I think that's precisely how I think of retirement. To have the time to do something that's meaningful (to me) and not being handcuffed to an office desk 8+hrs a day. On the personal journey update side... this is a first month when I'm experimenting how it would feel to live on with the monthly sum that I have in mind and have used in my plans. I have to say it felt like going through a cold turkey when I cleaned the current account of any other money and the balance seemed almost pitiful! But so far so good .... spending is on target

The Collecting Wisdom article seems to miss a point. If you become FI then you can pursue goals and passions regardless of whether they result in earning money. To me that sounds preferable to finding a job you like as it's still a restriction on spare time for other things if you have to do it to earn a living.

atush

Techno wrote: »

We are definitely the sandwich generation with children relying on us well into adulthood and parents living longer with associated decline in health or mobility also relying on us.

Snowdrop is there anyone else you can get to help you with frail parents so you can get a little bit of travelling done?

Yes and no.

Our parents are all 4 dead, and our 3 boys are university educated and 2 are out and thrid will be by august. And all 3 have substantial savings and pensions (mostly very good ones incl one DB).

We arent sandwiched much.

MallyGirl

We are sandwiches. All 6 parents/step parents still living and DD in lower 6th at school, aiming for a 5 or 6 year degree. There is a very distinct difference in pensions/savings between the 4 parents on my side and OH's parents (they do ok but just have state and teachers pensions and retired from teaching at 50ish). They are also split geographically with OH's parents in Lancs and mine in Devon and Dorset.

DairyQueen

I think we are a double-decker sandwich.

My parents are currently OK financially but the survivor will need to release house equity after the first death. They require my practical support as mum is severely disabled and dad, now 82, hasn't been able to cope without help for some years. I am therefore unable to relocate and OH and I must live separately Mon-Fri until he retires.

OH's widowed mum is now in self-funded, residential care and has sufficient assets from the house sale to see her through. However, OH is her only child within striking distance (an hour distant from one property and 1.5 hours from the other).

Both stepdaughters are now independent (undergrad, post-grad, house deposits sorted - phew) but no sooner had the youngest announced her engagement than my sibling revealed the extent of his post-divorce, financial problems.

I have two cousins who are squeezed from both sides and from the middle. Both provide elder care and grandchild care. Both have siblings with financial issues that, for various reasons, they are required to try and resolve.

The media herald we boomers as a 'golden generation'. Really?

bugslet

I'm only just a boomer having been born in '64 and I'm just a filling - can you be a filling with no bread?:p Parents died before I turned 30, OH died 5 years ago, no siblings, no children.

Mostly I think it's a plus, but I'm sure the day will come when it will be a minus. A couple of friends and I, all in our 50s, are pondering the idea of moving in together and I'm giving the idea 50/50 at the moment. Ideally somewhere like a barn conversion with a central hub. Sort of like an old folks home for friends:rotfl: