(NON FINANCIAL) Retirement plans/ dreams/ discussion.

bluenose1

I still plan to retire next June when I will be 55. I actually nearly went in March this year as I had applied for VR just prior to Covid. However the offer was only 6 months pay and working from home made me reflect on my plans as I won’t have the 2 hour commute back into work until at least next year. Plus Covid has unsettled me and I have realised that maybe I need a bit more cushioning for my finances. I am going to live off my DC Pot  from 55-60 and then my DB pensions from 60. 
Also hoping there’s will be another VR offer next year. 
i am definitely a hotel person, we have no pets to worry about which is one reason I know some prefer camper vans etc. Though we do have a 17 year old at home to consider, so just heading off into the sunset isn’t an option yet.
i would quite fancy a 2 week driving trip around parts of UK, stopping at different hotels etc each night.  I haven’t been on holiday at all this year,  though we moved to the coast in February so enjoying getting to know the area.

Love catching a glimpse into everyone’s life.

drummersdale

My current plans revolve around partially retiring at 59 - when I will have completed 41 and a half years service in the CS.  I’d like to do 3 days a week until my wife - who is 5 years younger and also a “career CS” decides she would like to retire - or fully retire at 62 whether she does or not.  I’m not sure what the implications of the McCloud judgement might be for me - all my CS pension is in Classic up until June when I moved across to Alpha - but assume I could put the Alpha service back into Classic if it works out a better option as I’m looking to take partial from around April 2022.  Looking to use the lump sum to pay off remaining part of mortgage, get some bits and pieces done to the house and help daughter through Uni as hopefully COVID might have levelled off a little by 2022.  Then when wife retires she can take her lump sum and we can bank that or use it for a couple of holidays a year.  My initial calculations on the CS retirement modeller would suggest we would end up with around £36k a year pension between the two of us which I think falls into the ‘comfortable” category - especially if the mortgage is paid and we don’t have much by way of other outgoings other than normal bills etc.  Would be nice to spend a bit of time in warmer climes over winter - nothing too exotic - Spain or Canaries - and perhaps do a little volunteering.  Might not be everyone’s dream retirement and especially exciting but after working since 16 just being able to wake up and do what you like when you like sounds good to me.

NI_BOBS

drummersdale said:

My current plans revolve around partially retiring at 59 - when I will have completed 41 and a half years service in the CS.  I’d like to do 3 days a week until my wife - who is 5 years younger and also a “career CS” decides she would like to retire - or fully retire at 62 whether she does or not.  I’m not sure what the implications of the McCloud judgement might be for me - all my CS pension is in Classic up until June when I moved across to Alpha - but assume I could put the Alpha service back into Classic if it works out a better option as I’m looking to take partial from around April 2022.  Looking to use the lump sum to pay off remaining part of mortgage, get some bits and pieces done to the house and help daughter through Uni as hopefully COVID might have levelled off a little by 2022.  Then when wife retires she can take her lump sum and we can bank that or use it for a couple of holidays a year.  My initial calculations on the CS retirement modeller would suggest we would end up with around £36k a year pension between the two of us which I think falls into the ‘comfortable” category - especially if the mortgage is paid and we don’t have much by way of other outgoings other than normal bills etc.  Would be nice to spend a bit of time in warmer climes over winter - nothing too exotic - Spain or Canaries - and perhaps do a little volunteering.  Might not be everyone’s dream retirement and especially exciting but after working since 16 just being able to wake up and do what you like when you like sounds good to me.

This sounds like an absolutely perfect way to retire !! 

shinytop

drummersdale said:

My current plans revolve around partially retiring at 59 - when I will have completed 41 and a half years service in the CS.  I’d like to do 3 days a week until my wife - who is 5 years younger and also a “career CS” decides she would like to retire - or fully retire at 62 whether she does or not.  I’m not sure what the implications of the McCloud judgement might be for me - all my CS pension is in Classic up until June when I moved across to Alpha - but assume I could put the Alpha service back into Classic if it works out a better option as I’m looking to take partial from around April 2022.  Looking to use the lump sum to pay off remaining part of mortgage, get some bits and pieces done to the house and help daughter through Uni as hopefully COVID might have levelled off a little by 2022.  Then when wife retires she can take her lump sum and we can bank that or use it for a couple of holidays a year.  My initial calculations on the CS retirement modeller would suggest we would end up with around £36k a year pension between the two of us which I think falls into the ‘comfortable” category - especially if the mortgage is paid and we don’t have much by way of other outgoings other than normal bills etc.  Would be nice to spend a bit of time in warmer climes over winter - nothing too exotic - Spain or Canaries - and perhaps do a little volunteering.  Might not be everyone’s dream retirement and especially exciting but after working since 16 just being able to wake up and do what you like when you like sounds good to me.

I retired early last year and I can confirm it's as good as it sounds!

drummersdale

Excellent! I love a recommendation! 

cfw1994

Well, into the final few months for me....another recent thread reminded me of this one.
Clearly this year has been exceptional for Covid on everyone's lives, & that will be impacting people in different ways.   Meanwhile, life & planning goes on. 
I am now a few months away from stepping away from my daily work.   
I get that one should retire TO something, not FROM, but equally, I don't really know what I specifically want next, & I am mildly excited by that thought!   
As a youngster, I travelled/'adventured' quite a bit before sliding into work & family....& I think we will endeavour to capture elements of that.   Maybe not being chased out of town in Morocco, or sleeping a season on a pool table in a funfair, but something more exciting than the world of IT 
We've started writing a list of possibilities & dreams.....currently at the heading stage, which read something like:  Craft, Culture (reading/films/shows), DIY (plenty there!), DofE (my volunteering 'thing'), Friends (local/UK/global!), Garden, Sport, Travel (perhaps UK for next 18 months!).    Suggestions welcome for more headings (maybe "Internet" should be there, with activity on a few forums and reading news daily)
I feel that there is enough to get my teeth into to try not to be too bored!

Was also speaking with a buddy at another tech company: similar views.  Both mildly wondering how to keep the brains active (after years of being 'experts' in our areas).   When pubs reopen we can get back to quizzing!
I am certain I will miss many people I work with, & detoxing from being endlessly online will, I know, take time....but I plan to beat it!
Jury still out on campervan....got some camping years left (& some decent kit)....quite liking the barefoot caravans as a 'tiny' 'van that has a toilet/shower as a lower-cost possibility....also have some friends with a van we might borrow ('hire') to test out, slightly bigger than VW but again with loo and shower.....but possibilities a-plenty!

randompenitent

Like you, @cfw1994, I'm leaving IT. I'm finishing at the end of the month. OH still working for a while yet, so no major joint plans yet.
I'm keen on sailing, so spending a lot more time doing that is high on the list. One of the challenges of combining sailing with work is that sailing boats travel slowly, so there's only so much you can do in a normal non-retired two week (or even three week) holiday. Being able to head off with no deadline is going to be fantastic.
Other than that, lots of hill walking, while I'm still capable.
And I have an ambition to learn to get by better in French than I do now and spend some unrushed time exploring France - and as much of the rest of Europe as I can manage. Recommendations for French courses/reading/education opportunities gratefully received.

Anonymous101

Great to hear the progression of your plans. “Headings” are a good place to start and I love the term “adventuring” that’s exactly how I like to think about how I’d want to spend at least the first decade of my retirement.

If I were to begin a retirement now or in the very near future I’d very much like to include plans to build a significant part of a home. Whether that would be a new primary residence or a holiday home I’m not sure and it wouldn’t have to be too large a property but I’ve always wanted to do it and it’s just been the time aspect that’s held me back so that would certainly be a heading for me. Let’s call it “adventures in building” and allocate a couple of years to the project.

BananaRepublic

I retired from working as a software engineer at the start of last year, at age 56. I quite liked writing software, but the attitude of managers made the job unpleasant. So many of them see it as an opportunity to validate their self worth by talking down to staff.

I planned to continue to learn to ice skate, do ice hockey training, enroll in a martial arts class, learn web development, restore mid century modern furniture and record fungi (they have some interesting stories to tell). I’ve done most of those things although lockdown screwed the ice hockey. I learnt to inline skate instead. It’s a brilliant way to spend a warm sunny day. 

I’d also appreciate recommendations for French courses, I can understand the news in French, but I can’t really speak the language. 

cfw1994

On the subject of French....well, my son spent a University year in Lyon, & was pretty fluent.   Just asked him: his view is that the likes of Duolingo or Rosetta Stone are mostly a waste of time (although everyone is different) - you need to meet people (not easy this year, eh!).
Maybe take an extended break somewhere & get out & about!   Actually, Lyon was a surprisingly lovely City.   Only previously driven past, where it looks very industrial: the centre is fabulous!

Yes, the "Corporate BS" is high in many IT (& perhaps non-IT) companies, although I have thoroughly enjoyed most of my time overall, & managed mostly to hover below the radar.
Love your ideas, @Anonymous101 - hankered after doing a self-build 15-20 years ago (went to trade shows a few times!), but never found a plot (or looked hard enough, perhaps!).  We have done a couple of extensions, one being a major remodelling of our place, so that itch was suitably scratched for us.  Key is finding a builder you trust and work well with - we were much luckier second time, but all went well overall.

Walking will be a major thing when we can move again.   Some lovely areas within an hour or two of where we live, & of course with a tent, places further afield could be explored!

Some interesting hobbies there, @BananaRepublic !    We did a bit of kick-boxing some years back....probably a bit past that now, & we found yoga actually left us with some pain, but might revisit that.  Restoring furniture must be interesting: wife is very handy with soft furnishings, I'm more your pallet-quality builder than fine crafting....& we watched Coventry Blades with some pals a few times over the past couple of years, a fun evening out....we are skiers more than ice skaters, and that will form part of next winter, I hope!