A Paupers Pension Tale (Not many nuts to dig up)

harlequinnyc

I want to thank c'est_moi and pensionpawn for their input. These are *exactly* the type of thoughts and experiences I enjoy reading about and who inspire my thought process, as they are so relatable. 

c'est_moi

Thanks halequinnyc - I'm glad to hear it. I must admit I have to remind myself often how very, very lucky I am to be in this position. My job really took its toll on me mentally and physically. It can be very difficult to walk away from a good, safe salary. It came as a huge shock to many of my colleagues when I announced that I was going, but that was because they never really knew the real me. Although there were many parts of the job I loved, it wasn't where I wanted to be any more and the constant changes, additional pressure to  do more, get better results, meant that I was working most evenings and weekends too. I got to the point where I had zero work life balance and was literally just living to work.

I am very aware that I am in honeymoon stage at the moment, but right now life seems pretty damn fine. Literally all of my time is mine to spend as I see fit. If the weather is good I just pack up a picnic and a flask and I can spend all day at the beach, or walking. Sitting out in the sunshine with the sea in front of you eating a picnic beats sitting in a miserable staff room with ground down colleagues rushing lunch to get back to the grind of work any day.

michaels

Apologies if my comment came across as negative. I love to hear everyone's experiences as i am contemplating retiring at a similar age. However sometimes those with a db pension look at the size of dc pots that others have saved up and don't realise that to buy an annuity paying 1200 per month from age 55 would require a dc pot of 750,000 which doesn't sound like a pauper pension? 

harlequinnyc

No doubt you feel lucky, c'est_moi but you're also reaping the deserved rewards of making good choices and knowing what is important and valuable in life. I feel my job is becoming exactly as you describe and is having a very similar effect on my physical and mental wellbeing. I believe that I have done my fair share and am looking forward very soon to experiencing the life that you so clearly enjoy and appreciate. The thought of never again having to drive to work through winter snow fills me with joy! 

mick08

Great post C'est_Moi, i'm about to go down the ill health route at 55, life limiting illness, with nowhere near some of the figures bandied about. I'll have enough for a reasonable retirement, knowing i'm done with nightshifts is a relief in itself. 

[Deleted User]

I'm 3 months away from retirement age (66).
I am entitled to two full state pensions from different countries, have a 400k executive pension from my company which I have just sold,80k in a SIPP and have been taking a private pension of 600 a month since I was 60 thanks to my dear old Dad insisting I get a fixed-rate annuity when they were at 8%.
I have a couple of properties which bring in 2k a month in rent.
And I have around 600k in cash after tax from the company sale.
And I'll be frank with you - I'm dreading retirement.
I have no hobbies and I hate golf and gardening.
The only thing I'm looking forward to is travelling.
Other than that I don't see the point of retiring.
I give it a year before I set up another company and go back to work.

Sea_Shell

Deleted_User said:

I'm 3 months away from retirement age (66).
I am entitled to two full state pensions from different countries, have a 400k executive pension from my company which I have just sold,80k in a SIPP and have been taking a private pension of 600 a month since I was 60 thanks to my dear old Dad insisting I get a fixed-rate annuity when they were at 8%.
I have a couple of properties which bring in 2k a month in rent.
And I have around 600k in cash after tax from the company sale.
And I'll be frank with you - I'm dreading retirement.
I have no hobbies and I hate golf and gardening.
The only thing I'm looking forward to is travelling.
Other than that I don't see the point of retiring.
I give it a year before I set up another company and go back to work.

Do you have to monetise what it is you do?

Is it something you could do as a volunteer, or a free service?

Turn it into a hobby?

[Deleted User]

Sea_Shell said:

Deleted_User said:

I'm 3 months away from retirement age (66).
I am entitled to two full state pensions from different countries, have a 400k executive pension from my company which I have just sold,80k in a SIPP and have been taking a private pension of 600 a month since I was 60 thanks to my dear old Dad insisting I get a fixed-rate annuity when they were at 8%.
I have a couple of properties which bring in 2k a month in rent.
And I have around 600k in cash after tax from the company sale.
And I'll be frank with you - I'm dreading retirement.
I have no hobbies and I hate golf and gardening.
The only thing I'm looking forward to is travelling.
Other than that I don't see the point of retiring.
I give it a year before I set up another company and go back to work.

Do you have to monetise what it is you do?

Is it something you could do as a volunteer, or a free service?

Turn it into a hobby?

I already do a fair bit of charity work - not sure I'd like to spend more time on it.
I don't have any worries about not being able to fill my time - I think I'm just having trouble coming to terms with the thought of being a pensioner.

Sea_Shell

Deleted_User said:

Sea_Shell said:

Deleted_User said:

I'm 3 months away from retirement age (66).
I am entitled to two full state pensions from different countries, have a 400k executive pension from my company which I have just sold,80k in a SIPP and have been taking a private pension of 600 a month since I was 60 thanks to my dear old Dad insisting I get a fixed-rate annuity when they were at 8%.
I have a couple of properties which bring in 2k a month in rent.
And I have around 600k in cash after tax from the company sale.
And I'll be frank with you - I'm dreading retirement.
I have no hobbies and I hate golf and gardening.
The only thing I'm looking forward to is travelling.
Other than that I don't see the point of retiring.
I give it a year before I set up another company and go back to work.

Do you have to monetise what it is you do?

Is it something you could do as a volunteer, or a free service?

Turn it into a hobby?

I already do a fair bit of charity work - not sure I'd like to spend more time on it.
I don't have any worries about not being able to fill my time - I think I'm just having trouble coming to terms with the thought of being a pensioner.

I'm 49 and have no problem being a "pensioner"! 😉.   But then technically I'm not, as I can't draw one yet!!

SMcGill

 I'd rather run out of money than time.

So true. I learned that from a lady I worked with who was hanging on in a job she didn’t like just so she could earn a few more years pension (which she admitted wasn’t essential). Six months after she did retire she was diagnosed with cancer. 12 months later she died. It’s a lesson I’m grateful to learn from her so that I don’t have to learn it for myself.