“money earners” in retirement

cfw1994

vulcanrtb said:

I've considered doing some Non-Executive Director stuff, just a few meetings a month/year. I know some who do it, but I'd rather have my first year in retirement completely work free, maybe something to do in year 2 of retirement.

Must admit, that comment resonates with me....I can see many things to volunteer and help at, but for the first year, I think 'relaxing and doing nothing' is high on my list 

Mickey666

When I retired it took me a couple of months to really get out of 'work mode' and realise that I no longer had to worry about project issues, customers and monthly reporting etc.    Six months into my retirement I was left wondering how I ever found the time to go to work in the first place because I was so busy with all my other interests!

Pegleg2001

Maybe delivering company cars is an option? Chap delivered mine a couple of years ago. Offered to take him to the local train station for his return journey. Had a nice chat on the 10 minute drive. Turned out to be a retired detective constable, but took this job up after he realised he’d watched a third repeat of “Bargain Hunt”.

[Deleted User]

Mickey666 said:

Anyone needing to find “money earners” in retirement hasn’t got their retirement planning right.
Anyone needing to find something to do in retirement hasn’t got their life planning right.

Shorter: anyone who isn’t you is wrong. 

[Deleted User]

barnstar2077 said:

annabanana82 said:

Mickey666 said:

Anyone needing to find “money earners” in retirement hasn’t got their retirement planning right.
Anyone needing to find something to do in retirement hasn’t got their life planning right.

But maybe that's part of their plans all along, I have a friend that is on track to "retire" from his very successful business in a few years time at 45. His plan is to have £1m in the bank taking £50k a year (no mortgage) and work part time in B&Q, Screwfix or similar, his wife will still be working and children still at school or uni but he just doesn't want the stress of the business for another 20 years.

Wow.  I cannot imagine why anyone would do this, but whatever floats his boat I guess!

I can't help but think though that there are so many projects he could work on, and ways he could volunteer without taking a job that someone else desperately needs to pay their bills.

Not how it works. People doing a job are not depriving someone else of vital income. They are contributing to society, generating value. And paying taxes to fund those who don’t work.   Lots of people seem to be dreaming  about doing nothing except travel after 50. And we live longer. As a result we have fewer and fewer workers supporting more and more non-working folks.  Not sustainable.

barnstar2077

Deleted_User said:

barnstar2077 said:

annabanana82 said:

Mickey666 said:

Anyone needing to find “money earners” in retirement hasn’t got their retirement planning right.
Anyone needing to find something to do in retirement hasn’t got their life planning right.

But maybe that's part of their plans all along, I have a friend that is on track to "retire" from his very successful business in a few years time at 45. His plan is to have £1m in the bank taking £50k a year (no mortgage) and work part time in B&Q, Screwfix or similar, his wife will still be working and children still at school or uni but he just doesn't want the stress of the business for another 20 years.

Wow.  I cannot imagine why anyone would do this, but whatever floats his boat I guess!

I can't help but think though that there are so many projects he could work on, and ways he could volunteer without taking a job that someone else desperately needs to pay their bills.

Not how it works. People doing a job are not depriving someone else of vital income. They are contributing to society, generating value. And paying taxes to fund those who don’t work.   Lots of people seem to be dreaming  about doing nothing except travel after 50. And we live longer. As a result we have fewer and fewer workers supporting more and more non-working folks.  Not sustainable.

This is a valid argument only if there are no unemployed people waiting in the wings in your area that need work.  Also, in this instance the chap in question won't be sat at home claiming benefits.  In fact by not working he is far more likely to be out and about spending his money and boosting the economy.

crv1963

We had a problem with rats, the pest control man we called in to help get rid of them explained to me his one man business came about because he'd retired from his engineering job and started "initially a couple days a week" following his hobby of bee keeping when someone asked him to remove a wasp nest and things snowballed from there to a full time job- stays local and does only living accommodation/ gardens, avoids doing big farms/ restaurants otherwise he says he'd be at it 7 days a week.

He loves the variety of houses/ gardens he does and sees lots of wildlife, including kingfishers and otters near our home in the post-industrial area we live in. He was an absolute mine of information about local history and architecture. He told me his aim was to cover his costs and make a bit of beer money to start with, now he makes a living when he hadn't expected to. 

Pollycat

cfw1994 said:

vulcanrtb said:

I've considered doing some Non-Executive Director stuff, just a few meetings a month/year. I know some who do it, but I'd rather have my first year in retirement completely work free, maybe something to do in year 2 of retirement.

Must admit, that comment resonates with me....I can see many things to volunteer and help at, but for the first year, I think 'relaxing and doing nothing' is high on my list 

I thought that too.

18 years into retirement I still think that.

Mickey666 said:

When I retired it took me a couple of months to really get out of 'work mode' and realise that I no longer had to worry about project issues, customers and monthly reporting etc.    Six months into my retirement I was left wondering how I ever found the time to go to work in the first place because I was so busy with all my other interests!

Me too.

crv1963

Pollycat said:

cfw1994 said:

vulcanrtb said:

I've considered doing some Non-Executive Director stuff, just a few meetings a month/year. I know some who do it, but I'd rather have my first year in retirement completely work free, maybe something to do in year 2 of retirement.

Must admit, that comment resonates with me....I can see many things to volunteer and help at, but for the first year, I think 'relaxing and doing nothing' is high on my list 

I thought that too.

18 years into retirement I still think that.

Mickey666 said:

When I retired it took me a couple of months to really get out of 'work mode' and realise that I no longer had to worry about project issues, customers and monthly reporting etc.    Six months into my retirement I was left wondering how I ever found the time to go to work in the first place because I was so busy with all my other interests!

Me too.

Several friends and former colleagues tell me this, all of them tell me once I finally stop work, take time to work on myself I'll wonder how I ever fitted work into my life. 

Pollycat

crv1963 said:

Several friends and former colleagues tell me this, all of them tell me once I finally stop work, take time to work on myself I'll wonder how I ever fitted work into my life. 

You'd better believe it!

Just to add that I took early retirement aged 50 so I'm just over what would be state pension age now.