What made you 'pull the trigger'?

MallyGirl

On that basis I would probably carry on too - until something like a health issue or taking on caring responsibilities changed the status quo. Not many are in your fortunate position 

chubsta

IvanOpinion said:

I have been pondering on when to pull the trigger, money is not the object (by my calculations I will retire on about 112% of my current take home pay - and growing). I have several problems though

• I still love my job and the people I work with. It is taxing and frustrating at times but is mentally stimulating and the work is very rewarding
• I have no real hobbies so not sure what I would fill the day with. Walks in the country and visiting teashops and castles would not do it for me. I have seen friends choose to retire and then become so bored they take on another job just to fill in time - why would I want to give up an enjoyable well paying job to do something I probably would not enjoy (as much) that pays minimum wage
• I have been a saver all my life and am really struggling with how to manage a switch to spending
• Mrs O would not want me hanging around all day

We love to travel, but my job currently offers infinite leave so we take as many holidays as we want a year - and the company is happy with the number of days I am taking off.

I had always talked about retiring at about 55-58, but I am now 61 and still working, loving it and happy (especially since I now work from home so no commute). I can't seem to find an incentive to actually retire.

I would say the big thing here is that you still love your job - why bother stopping doing something you clearly enjoy just to retire. I would actually go so far as to say a hobby is something you do purely because you enjoy doing it, whereas work is something you just have to do as you cannot survive without it. Sounds to me like you are lucky enough to be paid to do your hobby!

cfw1994

MallyGirl said:

On that basis I would probably carry on too - until something like a health issue or taking on caring responsibilities changed the status quo. Not many are in your fortunate position 

I guess I would too….although I would work hard on getting your missus to want to have you around.  & maybe focus on things that might interest you outside of work.  It’s never too late to get a new hobby!

We were discussing that only a couple of days ago.   

We both love the freedom we have now - absolutely no regrets - & enjoy being in each others company for a bigger chunk of our time.  

That said, we have a bunch of hobbies and interests that mean the days/weeks/months fly by.  

sgx2000

bluenose1 said:

I pulled the trigger in October 23 giving my employer the required 3 months notice and started retirement 2nd January 24.
Had dithered about retiring for a couple of years but a new toxic colleague gave me the oomph I required.  Still early days but loving the freedom this has brought to my life, whereas before I would be stressed sat at my desk all day and even on days off counting down until I had to return. I was sometimes  very stressed by work and love the relaxed, contented feeling I now have. 

A typical day is 

• Meditation for 15 minutes
• Walk in woods with dog for 1 to 2 hours.
• visit to gym to do weights/ sauna  3/4 times per week.
• lunch while watching Bargain Hunt  
• Potter around garden centre/ visit coffee shop in afternoon. (More my own garden in nice weather)
• Browse t’ internet
• Prepare home made meal
• Few tidying up jobs.
• Think to myself where has the day gone 😆 

Love it....
Except the gym bit lol....

katejo

IvanOpinion said:

I have been pondering on when to pull the trigger, money is not the object (by my calculations I will retire on about 112% of my current take home pay - and growing). I have several problems though

• I still love my job and the people I work with. It is taxing and frustrating at times but is mentally stimulating and the work is very rewarding
• I have no real hobbies so not sure what I would fill the day with. Walks in the country and visiting teashops and castles would not do it for me. I have seen friends choose to retire and then become so bored they take on another job just to fill in time - why would I want to give up an enjoyable well paying job to do something I probably would not enjoy (as much) that pays minimum wage
• I have been a saver all my life and am really struggling with how to manage a switch to spending
• Mrs O would not want me hanging around all day

We love to travel, but my job currently offers infinite leave so we take as many holidays as we want a year - and the company is happy with the number of days I am taking off.

I had always talked about retiring at about 55-58, but I am now 61 and still working, loving it and happy (especially since I now work from home so no commute). I can't seem to find an incentive to actually retire.

How do you retire on 112% of current pay? Is that just due to not paying into the pension any longer or not paying NI contributions? Also curious about infinite leave? I have dropped to working 4 days a week. I knew I would lose 20% of my flexible  leave but further deductions are made from my bank holiday allowance.

SouthCoastBoy

I would say it is relatively straight forward to have a pension income > than your current salary. When my wife hits state pension age, her pension in current terms will be around 23k pa (2 db pensions + state pension), she currently earns 17k pa

jimmyjazz1992

For me... I am hoping to retire at some point in the next year.

Why? I hate having a job. Always have. I have never enjoyed a working day in my life. Not as a teenager or a 'grown up' I have so much stuff to do which employment keeps me from doing. The things that a wage brings and which other people seem to enjoy don't do it for me. Cars, holidays, nice clothes, nice house... couldn't give toss. However I have a couple kids because I thought one day I might 'click in' but I didn't - and therefore. etc etc etc.

Unfortunately I haven't been able to make money from what I love doing so employment's was the only solution.

I do not for the life of me understand how some people worry about what they will do once retired (or as Borat was said 'you are a retard?'). Think back to the days before school ruined everything (hated that as well). Put your pumps on and play out!

Leigh-Anne_60

katejo  I have dropped to working 4 days a week. I knew I would lose 20% of my flexible  leave but further deductions are made from my bank holiday allowance.

Which day is your non working day? I’m currently considering dropping one day, but a Monday and by my calcs I’ll actually ‘profit’ on BH?

cfw1994

🤣
There have been occasions when I ask on a big friends WhatsApp group if anyone wants to come out & play 🤪
Usually for an ad-hoc bike ride out somewhere….

My last boss hated his job.   Always hated working.   Took the role ‘cos the rest of the team shied away from wanting it….& managed to sort himself a redundancy after I had left.  Now last seen swanning around Thailand/Vietnam and other exotic locations for very little money: loving his life!

I never hated my work, but did want to spend as long as possible at this end of my life *not* working…..& here we are 👍

Everyone is different: defined by different things, wanting different things.  That’s absolutely fine, although I would expect those inhabiting this particular corner of a very large internet to have some desires to retire!!

IvanOpinion

katejo said:

IvanOpinion said:

I have been pondering on when to pull the trigger, money is not the object (by my calculations I will retire on about 112% of my current take home pay - and growing). I have several problems though

• I still love my job and the people I work with. It is taxing and frustrating at times but is mentally stimulating and the work is very rewarding
• I have no real hobbies so not sure what I would fill the day with. Walks in the country and visiting teashops and castles would not do it for me. I have seen friends choose to retire and then become so bored they take on another job just to fill in time - why would I want to give up an enjoyable well paying job to do something I probably would not enjoy (as much) that pays minimum wage
• I have been a saver all my life and am really struggling with how to manage a switch to spending
• Mrs O would not want me hanging around all day

We love to travel, but my job currently offers infinite leave so we take as many holidays as we want a year - and the company is happy with the number of days I am taking off.

I had always talked about retiring at about 55-58, but I am now 61 and still working, loving it and happy (especially since I now work from home so no commute). I can't seem to find an incentive to actually retire.

How do you retire on 112% of current pay? Is that just due to not paying into the pension any longer or not paying NI contributions? Also curious about infinite leave? I have dropped to working 4 days a week. I knew I would lose 20% of my flexible  leave but further deductions are made from my bank holiday allowance.

Hi katejo, by 112% I mean that the amount, after tax, that I will be able to extract from my pension (based on 4% withdrawal) will be more than my current take home monthly salary (after tax, NI, pension contributions etc.). I did say I had been a saver all my life.

Infinite leave basically means if you want/need time off you take it. Of course there are certain boundaries, we are expected to complete our work and ensure coverage while we are off - as our CEO joked "you can have the whole year off if you want, but the chances of you having a job next year will be slim". Our pay, holiday allowance and benefits package remain the same. I have been taking about 45 working days leave a year since it was introduced (that includes public holidays). On the downside we don't get paid overtime and I sometimes have to join meetings at 8PM or 9PM in the evenings (occasionally they can go past midnight) - my contracted working week is 37.5 hours, but on average I do closer to 45.

The biggest issue with infinite leave is not usually abuse, the real issue is people simply do not take the leave they are entitled to, especially the younger members of staff. They fear that if they are seen taking too much leave they will miss a promotion or the best projects. Old duffers like me have no such concerns, we just take whatever time off we need.

A 4 day working week would not suit my leave pattern, I like to take 2-3 weeks off at a time and head to somewhere warm and/or exotic. As @cfw1994 said, we are all different, there is no right or wrong answer, we have to work out what best suits ourselves.