About to pull the trigger at last!

Albermarle

I had a DC pension but due to health, I got the CEVC value transferred after getting the required financial advice.  My pot is effectively DB now and I will be drawing down on it.

I think you are getting your DB's and DC's mixed up ?

Did you transfer the CETV out of a final salary scheme with guaranteed income ( DB) to an investment based DC pot ?

Xenon123

jim8888 said:

If you retire now, perhaps you can take steps to improve your fitness and, hopefully, your health. Making a decision and taking action is always a relief, so go for it! I'm no IFA, but you can always be flexible with your investments - retirement doesn't have to cost a lot of money and you might be surprised by how your financial "priorities" change. When I left work, the positive change in both mental and physical health was almost worth the entrance fee, but retirement has its own challenges too, not least managing the financial side. But you can always go back to work, so if you can retire now then give it a go!

Thanks Jim.  Yes, getting fitter is definitely on the retirement agenda!  I am fed up with the mental and physical stress of my job now, which is changing beyond recognition from the job I did up to now and I am looking forward to putting it behind me and enjoying my family and hobbies.  I am a bit concerned about the financial side of my retirement, but aware that most people are the same when they are on the threshold of giving up their career.  The current economic climate is the thing that has given me the jitters, but again, its a snapshot in time and this downturn will not be the last.  I have done my own forecasts as best as possible on what I (we) need, and my IFA has been reassuring as best he can.

Xenon123

Billxx said:

jim8888 said:

If you retire now, perhaps you can take steps to improve your fitness and, hopefully, your health. Making a decision and taking action is always a relief, so go for it! I'm no IFA, but you can always be flexible with your investments - retirement doesn't have to cost a lot of money and you might be surprised by how your financial "priorities" change. When I left work, the positive change in both mental and physical health was almost worth the entrance fee, but retirement has its own challenges too, not least managing the financial side. But you can always go back to work, so if you can retire now then give it a go!

I agree with the above. I retired four years ago and have suffered two serious health issues, in other words, you never know what is around the corner.  Go for it.

Yes Bill.  The phrase "go for it" has been a recurring theme with the many friends I have who have already pulled the trigger.
Its like standing on the highest diving platform at the swimming pool panicking about making the jump, then doing it and wondering what the worry was all about!

Xenon123

Albermarle said:

I had a DC pension but due to health, I got the CEVC value transferred after getting the required financial advice.  My pot is effectively DB now and I will be drawing down on it.

I think you are getting your DB's and DC's mixed up ?

Did you transfer the CETV out of a final salary scheme with guaranteed income ( DB) to an investment based DC pot ?

Yes getting them mixed up, not the first time!