I am suffering from "The Fear"

Purplelady65

Could you maybe reduce your hours so you’re working less days and maybe gradually ease yourself into retirement? This might free up a bit of time as well for you to focus on your health. 

sheslookinhot

Everyday you work is a day less to enjoy in retirement 

pensionpawn

jim8888 said:

For me, one of the bigger considerations for retiring at 57 was staying fit and healthy, both physically and mentally. It's easy to underestimate the toll work takes on you in this area, especially as you grow older. I spend a lot of my retirement time doing physical activities that work just didn't allow time for. In terms of the finances, my experience is that, if you're the type of person interested in investing etc.. then you're just going to pick at that regardless! I spend a lot of time projecting forward on my pensions, but I've stopped giving myself a hard time about it. I've accepted the fact that I actually enjoy doing it and it's a kind of comfort blanket. I'd say retirement is a mixed bag of experiences, you have good and bad (boring) days, but what you don't have is the stress, politics and demands of the workplace. If you're finding there's too much of that in your employment, then I'd take the retirement option. 

Couldn't agree more. We're both 56 however my wife, who already reduced her hours a year or so ago, has decided (and I agree) that the physical and mental stress of her job is now too great to continue. Yes, working longer will create a larger pot however that's no good if you are no longer in the right physical and mental condition to enjoy it. I can definitely testify that she has no anxiety about handing her notice in later this month! That, no doubt, is partly due to me continuing at a recently reduced rate in my job for as long as I enjoy (can put up with) it. I keep on telling everyone at work when the fun stops, stop! I still enjoy the main focus of my job and reducing my hours has removed most of the frustration that would cause me to quit fairly soon. That said, I'm sure that when the moment comes to hand my notice in, especially if nothing has !!!!!! me off, there will be a short period of reflection about giving up a decent, usually hassle free, salary. However we have both qualified for full SPs and have plenty of interests / activities outside of work so the reflection shouldn't last long! This isn't the dress rehearsal and tomorrow isn't promised. I've recently sampled semi retirement and I like it. Press the button before you're too old to enjoy the benefits it will bring....

Albermarle

sheslookinhot said:

Everyday you work is a day less to enjoy in retirement 

Or you could say . Every extra day you work can mean a little bit less anxiety about money in retirement, so you relax and enjoy it more.

molerat

When I was coming close to 55 I remembered senior management's reply to when we queried some of the stupid systems they had implemented - JFDI - so I did

Toucan13

Or you could say . Every extra day you work can mean a little bit less anxiety about money in retirement, so you relax and enjoy it more.

Yes although right now there are things I need to be doing and people that need me to be around to help them.  In 5 years time I may have more money but that opportunity will have passed by.  I'm tempted to seize the day - the other contracts I do mean I'll work part time anyway.  It does feel like it's time

bluenose1

I think I will have the “fear” whenever I go, but reading the comments on here you really do have to balance giving up your job with the health benefits of going while still young and active enough to enjoy.
Toucon13 I can totally see why you are thinking of seizing the day, a lovely thought. 
I am holding out for a VR scheme, as hoping there will be one soon. 

pensionpawn

bluenose1 said:

I think I will have the “fear” whenever I go, but reading the comments on here you really do have to balance giving up your job with the health benefits of going while still young and active enough to enjoy.
Toucon13 I can totally see why you are thinking of seizing the day, a lovely thought. 
I am holding out for a VR scheme, as hoping there will be one soon. 

Think about reducing your hours in the meantime. Yes, you won't get your maximum VR however you'll get a proportion of it and semi retirement!

SouthCoastBoy

I have the same issue, with current world conditions I have decided to continue until 60, so just under another 3 years. In that time I may leave my current job and go back to contracting, I'm just pleased I have made a decision, it gives me focus

Kim1965

SouthCoastBoy said:

I have the same issue, with current world conditions I have decided to continue until 60, so just under another 3 years. In that time I may leave my current job and go back to contracting, I'm just pleased I have made a decision, it gives me focus

I am the same age as you, looking at 60 for semi retirement. How would a sustained market fall affect your plans?I guess, xour large cash balance protects you?