When can I retire ?

Kim1965

18 months on my figures are db pension 9k pa in payment fully indexed. Sipp 170k, isa 30k, cash 30k, inherited sipp 80k (no tax on income). Working 3 days a week, take home about 2kpm plus db pension. Can save about 1k a month. Working on for a while.  Full sp in 8 yrs. 
 Revised retirement income 24k nett.
When would the more pessmistic / cautious posters think i could retire outright? 

Marcon

Kim1965 said:

18 months on my figures are db pension 9k pa in payment fully indexed. Sipp 170k, isa 30k, cash 30k, inherited sipp 80k (no tax on income). Working 3 days a week, take home about 2kpm plus db pension. Can save about 1k a month. Working on for a while.  Full sp in 8 yrs. 
 Revised retirement income 24k nett.
When would the more pessmistic / cautious posters think i could retire outright? 

If you don't enjoy working, and your previous post says you don't, a straw poll here won't have any impact on changing that view.

You are in control of what you spend, even if you aren't in control of your income once you retire. Stop work, enjoy life and accept that your spending patterns may need to change in exchange for your liberty. 

RetSol

Stop work, enjoy life and accept that your spending patterns may need to change in exchange for your liberty. 

I did this 3 years ago aged 55 and I wholeheartedly recommend it. 

I simply followed my gut feeling that I had enough resources - I had done no detailed planning. 

I only discovered MSE and retirement planning once I had stopped work and I have used what I have learned on here to knock my finances into shape, having already made the leap. 

Having said that, I am looking to earn some money again now but I am not dependent on it. 

EDIT: I didn't like working either! 

Kim1965

RetSol said:

Stop work, enjoy life and accept that your spending patterns may need to change in exchange for your liberty. 

I did this 3 years ago aged 55 and I wholeheartedly recommend it. 

I simply followed my gut feeling that I had enough resources - I had done no detailed planning. 

I only discovered MSE and retirement planning once I had stopped work and I have used what I have learned on here to knock my finances into shape, having already made the leap. 

Having said that, I am looking to earn some money again now but I am not dependent on it. 

EDIT: I didn't like working either! 

Not many on here would have adopted your approach. Out of interest how did your numbers stack up?.
My gut  feeling is I am reasonably close, but i dont overly analyse the numbers with spteadsheets  etc Im always interested in those who take a cautious approach. Work also does not seem as bad when a person feels they have options. 

RetSol

Work also does not seem as bad when a person feels they have options. 

I am glad if your exploration of the options is making work more bearable, @Kim1965

My numbers pan out in a very similar way to yours but with more emphasis on the db pension and less on SIPPs/ISAs.

Although I had done very little detailed planning, I had made a conscious decision to live on less in the years leading up to "retirement" so I had been practising. Also, having a reasonable fully index-linked db pension takes a lot of the guesswork out of it. 

ukdw

£18k requirement per year from age 67 covered by SP and DB (if you leave taking it until 60). - Assume these both include inflation rises.

Age 60 - 67 -  On top of the DB, you require around £10k a year to funded out of savings or DC - so total DC required to retire at 60 = £70k -  plus the £30k house fund.  =. £100k 

Each year of retirement earlier than age 60 would require an additional £18k.   

As you already have an additional £45k - Id say age 58 looks doable.