It's time to start digging up those Squirrelled Nuts!!!!

Sea_Shell

Sea_Shell said:

Well....That's All Folks!!!!! I am now officially a non-working person.

Looking at the weather for the next couple of weeks, it appears my timing is just right. So for at least the next week or so, we're just treating it as a "staycation", and chilling out at home. Then we'll start making some plans for Sept/Oct.

It doesn't feel quite REAL just yet, I feel like i'm just having some time off.

I've just realised, it's almost my 4 year retirement anniversary.   Wow that's gone quick.

I know I haven't been doing blow by blow updates, but I thought I'd do one as at end June 23.  (I know a few people are still reading this thread and ploughing their way through it all)

How our pots are looking...

Easy access cash - £11,500
Loanpad P2P - £10,000
1/2 year fixed cash - £26,500
Aviva Drawdown pot - £27,000
S&S ISAs - £211,000
Untouched Pensions - £305,000

Total - £591,000

As at end June 2019, we had £536,000
Over the last 4 years we have spent £61,000

savingmore

Thank you for updating.  I love your thread and wish you would update more.  Good to see your figures and how you are doing.  It’s very comforting that you live and yr pots go up.  We were going to go this summer but delayed for a year.  It’s slipping by quickly anyway and getting ready although our pots aren’t increasing at mo!

Doctor_Who

Sea_Shell said:

Sea_Shell said:

Well....That's All Folks!!!!! I am now officially a non-working person.

Looking at the weather for the next couple of weeks, it appears my timing is just right. So for at least the next week or so, we're just treating it as a "staycation", and chilling out at home. Then we'll start making some plans for Sept/Oct.

It doesn't feel quite REAL just yet, I feel like i'm just having some time off.

I've just realised, it's almost my 4 year retirement anniversary.   Wow that's gone quick.

I know I haven't been doing blow by blow updates, but I thought I'd do one as at end June 23.  (I know a few people are still reading this thread and ploughing their way through it all)

How our pots are looking...

Easy access cash - £11,500
Loanpad P2P - £10,000
1/2 year fixed cash - £26,500
Aviva Drawdown pot - £27,000
S&S ISAs - £211,000
Untouched Pensions - £305,000

Total - £591,000

As at end June 2019, we had £536,000
Over the last 4 years we have spent £61,000

I've not dug over the last ~380 pages (yet!). Hopefully your figures for the last 4 years will help others in a similar situation to make a decision about retirement. I 'pushed the button' at the end of 2020 and am currently withdrawing from my SIPP. My situation is slightly different in that I have a good DB pension that starts when I'm 65, hence my SIPP only needs to last ~10 years (at the current withdrawal rate it will last much longer). What I need to get my head around is to actually start to spend some of the money that I have spent ~35 years saving!!

michaels

Sea_Shell said:

Sea_Shell said:

Well....That's All Folks!!!!! I am now officially a non-working person.

Looking at the weather for the next couple of weeks, it appears my timing is just right. So for at least the next week or so, we're just treating it as a "staycation", and chilling out at home. Then we'll start making some plans for Sept/Oct.

It doesn't feel quite REAL just yet, I feel like i'm just having some time off.

I've just realised, it's almost my 4 year retirement anniversary.   Wow that's gone quick.

I know I haven't been doing blow by blow updates, but I thought I'd do one as at end June 23.  (I know a few people are still reading this thread and ploughing their way through it all)

How our pots are looking...

Easy access cash - £11,500
Loanpad P2P - £10,000
1/2 year fixed cash - £26,500
Aviva Drawdown pot - £27,000
S&S ISAs - £211,000
Untouched Pensions - £305,000

Total - £591,000

As at end June 2019, we had £536,000
Over the last 4 years we have spent £61,000

I know you don't like this analysis but I think it is reasonable. 

IN 2023 pounds your pot has gone down from £656k to £591k or about 10% so if the same real terms performance and spending were maintained it should last another 36 years.  Of course if you have state pension provision and any other pensions to come then your need to spend from the savings pot will likely be much diminished in future.

Sea_Shell

michaels said:

Sea_Shell said:

Sea_Shell said:

Well....That's All Folks!!!!! I am now officially a non-working person.

Looking at the weather for the next couple of weeks, it appears my timing is just right. So for at least the next week or so, we're just treating it as a "staycation", and chilling out at home. Then we'll start making some plans for Sept/Oct.

It doesn't feel quite REAL just yet, I feel like i'm just having some time off.

I've just realised, it's almost my 4 year retirement anniversary.   Wow that's gone quick.

I know I haven't been doing blow by blow updates, but I thought I'd do one as at end June 23.  (I know a few people are still reading this thread and ploughing their way through it all)

How our pots are looking...

Easy access cash - £11,500
Loanpad P2P - £10,000
1/2 year fixed cash - £26,500
Aviva Drawdown pot - £27,000
S&S ISAs - £211,000
Untouched Pensions - £305,000

Total - £591,000

As at end June 2019, we had £536,000
Over the last 4 years we have spent £61,000

I know you don't like this analysis but I think it is reasonable. 

IN 2023 pounds your pot has gone down from £656k to £591k or about 10% so if the same real terms performance and spending were maintained it should last another 36 years.  Of course if you have state pension provision and any other pensions to come then your need to spend from the savings pot will likely be much diminished in future.

You say that....and then post it anyway.  🤦🏼‍♀️

michaels

Sorry, your thread is really relevant to SWR conversations but SWR is all about achieving an inflation adjusted steady income so looking at the numbers without inflation adjustment might give others a false idea of how successful or otherwise the outcome is.  I know you are on top of this but not everyone reading might be?

Audaxer

michaels said:

Sea_Shell said:

Sea_Shell said:

Well....That's All Folks!!!!! I am now officially a non-working person.

Looking at the weather for the next couple of weeks, it appears my timing is just right. So for at least the next week or so, we're just treating it as a "staycation", and chilling out at home. Then we'll start making some plans for Sept/Oct.

It doesn't feel quite REAL just yet, I feel like i'm just having some time off.

I've just realised, it's almost my 4 year retirement anniversary.   Wow that's gone quick.

I know I haven't been doing blow by blow updates, but I thought I'd do one as at end June 23.  (I know a few people are still reading this thread and ploughing their way through it all)

How our pots are looking...

Easy access cash - £11,500
Loanpad P2P - £10,000
1/2 year fixed cash - £26,500
Aviva Drawdown pot - £27,000
S&S ISAs - £211,000
Untouched Pensions - £305,000

Total - £591,000

As at end June 2019, we had £536,000
Over the last 4 years we have spent £61,000

I know you don't like this analysis but I think it is reasonable. 

IN 2023 pounds your pot has gone down from £656k to £591k or about 10% so if the same real terms performance and spending were maintained it should last another 36 years.  Of course if you have state pension provision and any other pensions to come then your need to spend from the savings pot will likely be much diminished in future.

As the starting pot nominal value was £536k and in 4 years it has increased to £591k, despite spending of £61k, I can't see that the pot would ever run dry if the same performance and annual spending levels (say £15k plus inflation) were maintained. In these circumstances I think it is more likely that balance of the pot would continue to increase in value even if there was no DB or State pensions to come.

Sea_Shell

Just for clarity (although it's probably buried somewhere here), we will have DB and SP to pay out, in time.

Currently (with a few additional years NI still to pay up*), we're at, in todays money...

DH's DB - £9500 from end 2031  (50% WP)
DH's SP - £8700 from end 2033
My SP - £9600 from end 2038

So that's on par with ~£28k today.

So in reality, our personal 'pot' only has to fully cover another 8 years, or in a worst case scenario another 15 years.    After that, what's left really does become 'disposable'.


* I paid up 2 'cheap' part-years that were due to drop off, but we both still have 'full cost' years to pay, but less than 6 each so no need to decide on paying up those just yet.

Doctor_Who

Sea_Shell said:

Just for clarity (although it's probably buried somewhere here), we will have DB and SP to pay out, in time.

Currently (with a few additional years NI still to pay up*), we're at, in todays money...

DH's DB - £9500 from end 2031  (50% WP)
DH's SP - £8700 from end 2033
My SP - £9600 from end 2038

So that's on par with ~£28k today.

So in reality, our personal 'pot' only has to fully cover another 8 years, or in a worst case scenario another 15 years.    After that, what's left really does become 'disposable'.


* I paid up 2 'cheap' part-years that were due to drop off, but we both still have 'full cost' years to pay, but less than 6 each so no need to decide on paying up those just yet.

So, like me, you were in a really good position for early retirement 4 years ago by having a good level of index linked pension available within 12-14 years. Unless you fancied a Lamborghini, the chances of running out of money were absolutely minimal! I think you should be treating yourselves to some chocolate covered nuts!

michaels

Audaxer said:

michaels said:

Sea_Shell said:

Sea_Shell said:

Well....That's All Folks!!!!! I am now officially a non-working person.

Looking at the weather for the next couple of weeks, it appears my timing is just right. So for at least the next week or so, we're just treating it as a "staycation", and chilling out at home. Then we'll start making some plans for Sept/Oct.

It doesn't feel quite REAL just yet, I feel like i'm just having some time off.

I've just realised, it's almost my 4 year retirement anniversary.   Wow that's gone quick.

I know I haven't been doing blow by blow updates, but I thought I'd do one as at end June 23.  (I know a few people are still reading this thread and ploughing their way through it all)

How our pots are looking...

Easy access cash - £11,500
Loanpad P2P - £10,000
1/2 year fixed cash - £26,500
Aviva Drawdown pot - £27,000
S&S ISAs - £211,000
Untouched Pensions - £305,000

Total - £591,000

As at end June 2019, we had £536,000
Over the last 4 years we have spent £61,000

I know you don't like this analysis but I think it is reasonable. 

IN 2023 pounds your pot has gone down from £656k to £591k or about 10% so if the same real terms performance and spending were maintained it should last another 36 years.  Of course if you have state pension provision and any other pensions to come then your need to spend from the savings pot will likely be much diminished in future.

As the starting pot nominal value was £536k and in 4 years it has increased to £591k, despite spending of £61k, I can't see that the pot would ever run dry if the same performance and annual spending levels (say £15k plus inflation) were maintained. In these circumstances I think it is more likely that balance of the pot would continue to increase in value even if there was no DB or State pensions to come.

Which is exactly my point, if you don't look at things in real terms you don't get the real picture.  As above, the pot value has fallen by 10% in real terms so an inflation adjusted drawdown that was for example 3% will now be 3.3%