Having problems deciding whether to press that resignation button....

Kim1965

Matt1964. Whats your monthly number?
 I think part time work, especially at that hourly rate, is a good move.
 I have similar provisions to you and about the same age. My work ( self employed) can be driven entirely by me. If i work for a few moře years, the dc pot is a bit bigger and  has less time to bridge to sp. I either need to work hard and save hard, or tread water for twice as long.
 The idea of meandering into retirement is quite attractive. Im not sure if i want to retire, or just know I can, may seem odd to some? 

pensionpawn

We all know what size (reducing?) pot is necessary to support our mandatory / aspirational retirement income, and it's different for everyone. At 56 I have decided to reduce my hours to 70%, which approximates to my future desired drawdown, to test the water. I know that I could later drop to 60%, and maybe even 50%. All of which gives me a healthy number of 3-5 weeks breaks throughout the year. My management were also keen to stress that I could return to full time (if was tough keeping a straight face) should I wish to. Don't spend too long working unless you really enjoy it and it relaxes you. Start enjoying the next phase of your life as soon as possible!

mat1964

Kim1965 said:

Matt1964. Whats your monthly number?
 

It's around £2,5k net. Had to put it up due to crazy increase in utility bills.  

atw_uss

Great thread that I continue to enjoy following

I have taken the plunge and am reducing from FT to three days a week this summer. As many have said, this will be useful to see what it’s like living on less (and working less, of course). I could retire this summer at 55, but it seems to make sense in my current situation to continue accruing my pension while reducing the level of actuarial reduction for when I do decide to finish. Thankfully I still like my job, but will be very happy to do less of it! 

garyelder

I took the plunge last March best thing I ever done I’m 61 this year sold a flat last year got a few quid for that, I have another rental property which is another income and my pension pot 515k which I don’t expect to take until probably 5 years time
my wife has a part time job 5k plus half the rental another 4.5k get a few quid for interest May lock in for 2 years atom 2.20 % not bad but of luck another interest rate that will go to 2.50% +
got to make use of the taxable allowance