FIRE friends & family

cfw1994

harlequinnyc wrote: »

I appreciate your reply and encouragement. My OH is more than happy for me to do this. He enjoys his job and we would spend plenty of time together during his time off; a lot of my time whilst he is at work would probably be spent with my elderly Mum, which I consider time well spent, while she is still around.

We both just have the obvious apprehension that any major change in lifestyle brings and of course, it's nice to have extra spare cash. I do only work part time now . We do have substantial savings and no debt; it's just a big step to actually write that letter of resignation consider myself "retired". :j

This, in particular, is invaluable time. Having free hours spare when that generation is still around is not time you would feel wasted in years to come!
(I speak having attended a funeral earlier this week )

Beyond that....if you really like your colleagues and/or job, then perhaps look to going part time if you can...but otherwise, I find that everyone I know who has properly retired has never been busier....or happier....but on things they WANT to do!

(& I say "properly retired" - I have known some who stop work, then get back on the horse to another job, sometimes in the same industry, sometimes utterly different!)

hugheskevi

We both just have the obvious apprehension that any major change in lifestyle brings and of course, it's nice to have extra spare cash. I do only work part time now . We do have substantial savings and no debt; it's just a big step to actually write that letter of resignation consider myself "retired". :j

Personally I find that with all big financial decisions, the actual final step of committing is just a formality - the 'decision' was effectively taken earlier, at some stage of working out all the possible actions.

I know when it comes to the final step of formal retirement, I will be very happy to take the decision as it will be based on years of data collection and analysis. That helps take into account all plausible scenarios, and gives me confidence that I know exactly what I need, what I want and the trade-offs I am and am not willing to make at any given time. So I think the hard work is in the analysis, not in the decision.

I think that generalises to other decisions too. I find that if I am nervous about taking a major decision, be it buying a house, car or investments, that probably means that I have not done enough research and should take longer to consider the matter.

It is the marginal decisions which I have reservations about that I keep under constant review, ensuring that the reasons I took the original decision still are valid. If retirement was a marginal decision, given the significance of the step I wouldn't be taking it until I was very confident it was the right thing to do.

Mnd

What we have found with the one working one at home situation is that my wife works full time. I take on all the housework, cooking etc which means that evenings and weekends are spent as our quality time together with no pressure to have to get things done

MizzPenniless

harlequinnyc wrote: »

I'm thinking that I probably *could* be part of the FIRE movement but I'm a little scared to take the plunge and give up work, even though I'd love to! I'm 49.

I've saved 25% of my income for years, have a good final salary pension waiting which I could draw at 55, I am mortgage free, have no kids, shop at Aldi/Lidl and a new but small, economical car. My OH works and has no plans to retire so my question is: SHOULD I DO IT??

(I know, I know, it's nobody's decision but mine but I always value others' opinions.... but not to the extent of the OP.. I couldn't care less what my colleagues/potential ex-colleagues think of my lifestyle.

I would take early retirement if I was in your situation. I am envious reading this thread, when I have no hope of being able to retire early myself. I've been a saver rather than a spender my whole life, but never earned more than £18k, and my pension if I take it now will be under £4k a year (I think that would make for a 'sad low income life', especially with 10 years left on my mortgage). I left my job in August with 6 months salary, and will have to find another job when my money runs out
I think the suggestion others have made of reducing to work part time would be a good compromise, though I don't know how easy it would be to increase your hours again if you decided it wasn't for you.

Pollycat

enthusiasticsaver wrote: »

I agree that you need a bit of gumption to be prepared to take up new hobbies, join new social groups and be a bit pro active in not letting life drift along. I retired last year and determined not to stagnate and took up rambling, joined the U3a, set myself a challenge of walking the south west coast path and making much more use of my National Trust card and visiting local gardens, and there are lots in Devon and Cornwall. I have got much fitter and tend to have at least one thing on every day if I want to. There are groups I belong to, friends I can meet up with for coffee or lunch and if all else fails I have the gym and pool/spa which we are members of or I go out walking. I have made lots of new friends and kept up with some of my work colleagues but not many to be honest. That chapter of my life is closed. I also look after my grandchildren one day a week. Some of my friends do nothing except see the odd friend and babysit their grandchildren. That is not what I retired for but I assume they like it.

I guess people who don't have hobbies when they're working may find retirement harder than those who do.
We were already keen walkers and gardeners and members of EH and NT.
Being retired just gave us more time to indulge.
As well as having extended holidays.
A long haul holiday is much more bearable if you can relax back into the time zone instead of having to rush back to work whilst you're still jet-lagged.

atush

I used to be a very keen gardener. But living where i do, and the appalling weather, it is sucked the pleasure out of it for me. So i garden less here, and more in FL when i go home.

harlequinnyc

barnstar2077 wrote: »

Any chance of dropping down to a couple of days a week for an adjustment period?

Hi and thanks for your reply. Yes, that could be a possibility. I'm not sure I would do it where I currently work but I could look for fewer hours elsewhere. If only I had a crystal ball ...