Fed up with working

pensionpawn

Krakkkers said:

Do you remember the days when you could ask for a coffee and someone would just give you one?
I have a degree in engineering and 30 years experience on jet engines and weapon systems but I can not order a coffee because they have  elevated it to a level that is beyond me. 
Is there a course I can take?
What is a mocca choca locca?

shortseller09 said:

Krakkkers said:

I can't order coffee out as I don't understand all the follow up questions 

That really made me laugh out loud

This made me laugh...

Krakkkers

At last someone has broken the code.

Kim1965

It would appear you have had the finances in place to retire for a few years. What has changed recently?
 

Dazed_and_C0nfused

Kim1965 said:

It would appear you have had the finances in place to retire for a few years. What has changed recently?
 

I think the thread title says it all!

Anonymous101

QrizB said:

Krakkkers said:

I take your point and in fact i spent £115 today at a birthday party.
But i have some slack in my budget for that and additional income from Solar FIT payments and Interest on savings.

OK, let's double your budget, £1400 a month, £16800 a year.

Once you get to 67 and SPA you're golden; DB pension plus SP will be £22000 a year.

You need to find £16800 a year for two years - £33600 - to get to 60 when your DB kicks in, then £6300 for seven years - £44100 - until SPA. Total £77700.

But you;ve already got £195k in the bank, more than double that amount, plus another £138k of DC pension. More than four times the £77700 that you need.

It seems to me that you could probably have retired 4-5 years ago.

You could up your budget to £22k a year (which would increase that £77700 to more like £130k) and still afford to retire today with £200k spare.

Or even make your budget £28k a year (drawing down that £200k at an initial 3%) and be pretty sure of never running out of money.

Catching up on this thread I was running this exercise in my head until I read this comment.

Hits the nail on the head for me. You're comfortably Financially Independent, if you've had enough of your current job then quit. You certainly don't need the money to maintain your current lifestyle.

Yes there's a few easy enhancements you could make financially. Such as not taking the pension lump sums or accruing the final year of your state pension. They add to an already very strong position, they won't change it.

Kim1965

Agree, you could have retired a few years ago, so i guess something has changed at your work. Why carry on? What a great position to be in. 
 

Krakkkers

I don't hate my job i just resent the time it robs me of, although my outgoings are low i am quite cautious even though the sums add up i am still used to earning decent money.
Do you really think i am in a great position?
Maybe the missing piece is fixing my savings at a good long term rate.

Albermarle

Maybe the missing piece is fixing my savings at a good long term rate.

You seem maybe a bit overfocused on this point. With inflation in double figures there are no good long term interest rates, as they are all heavily negative in real terms . 

NedS

Krakkkers said:

I don't hate my job i just resent the time it robs me of, although my outgoings are low i am quite cautious even though the sums add up i am still used to earning decent money.
Do you really think i am in a great position?
Maybe the missing piece is fixing my savings at a good long term rate.

I think I would wait another 6-12 months before fixing long term - rates are definitely still rising for now. Maybe consider a 12 month fix for now, and see what long term rates look like in 12 months time?

Krakkkers

4% could bring me an additional £500 a month.