The Senior Wonder Years!

[Deleted User]

Please nothing more about motability! Surely there is a thread about it elsewhere? 

Tastiger

Glad you had a good holiday - came back ourselves yesterday from a self catering cottage in East Suffolk. What a beautiful part of the world- lovely people and great pubs. Weather excellent too.

Blackcats

Good evening!  I've just caught up with your thread and found it very interesting to read about your retirement and the plans of other posters.
I'm semi-retired having taken my NHS pension 18 months early.  I'm also waiting for the Macleod remedy to come into effect to consolidate a few years of pension in the "new" scheme into my 1995 scheme. 

I'm working 2 days a week until mid October and will then be fully retired.
OH is already retired and will start receiving his state pension next spring.
We look after my elderly dad and working less enables us to care for him and spend quality time with him.
I really enjoy having extra time and energy to enjoy life and am happy to spend less to achieve early retirement. 

[Deleted User]

Welcome Blackcats! Many thanks for your comments and input. I look forward to hearing more. 

Does your OH also have an occupational pension?

hostertlady

i have bookmarked this thread so i can come and read it all when i get more time, i need help with a plan, as i havent yet got one!

[Deleted User]

Welcome hosterlady! Looking forward to hearing about your plans and finances. Lots of friendly people here to make suggestions and offer support.

Smudgeismydog

Hello everyone, I’ve been reading the thread with interest.

I will be 50 next month, and am seriously considering handing in my notice next March / April. My
 job is stressful and I no longer enjoy it like I used to. I have some planned expenditure up until then, hence the time-frame to stay in work.
I think I’d like to take some time off initially, before potentially looking for something part-time / flexible / remote to help give me routine and structure, and to keep the grey matter ticking over. However, I also want to be financially secure enough, that there is no pressure on having to earn, so I could consider volunteering.

I am in receipt of a dependents pension (my husband passed away aged 37), which is now @£15,500 pa.
I have a GIA and ISA of £130,000 along with £40,000 in cash which I plan to use to fund myself up until age 57 when I can access my SIPP (current value £670,000).

I share the household bills with my partner, and this is £650 per month. My 2 children are still at home, so I expect this will reduce when they leave, but I’d prefer to err on the side of caution and budget for this full amount. On top of this I’ve budgeted for a further £500 per month for personal things like car, gym, mobile, eating out, hairdresser etc. I plan to draw down from capital to fund larger costs such as holidays, car replacement etc.

I have no debts and have repaid my mortgage. I have saved £20,000 each for both my children in a JISA, and they will also receive a dependents pension of currently £6,500 per annum up until age 21, if they stay in full-time education. So I don’t plan to provide further financial assistance should they go to university.

One concern I have is that I am too young? I’ve always worked and I’ve had to juggle a huge amount being widowed with 2 tiny children, so will I get bored? But I’m also exhausted, and want to give myself more time to enjoy the things I want.

Would very much appreciate your thoughts and observations

Thanks 

Durban

Delurking to say fabulous thread and looking forward to reading more 

56 years old and working part time and paying into LGPS plus the attached AVCs 

Husband also working. Will have an extremely small DB pension paying around £200 pm and a mediocre  DC pension but my DB will be good  and we are ploughing as much as we can into the LGPS AVC which I can take as a lump
sum on retirement 

Both will have full state pensions 

Mortgage free and just sold BTL property and helped our children out with a deposit for their own houses  

I should comfortably be able to
retire at 65. Possibly a little earlier but we shall see. I am only part time now albeit a stressful job 

Durban

Smudgeismydog said:

Hello everyone, I’ve been reading the thread with interest.

I will be 50 next month, and am seriously considering handing in my notice next March / April. My
 job is stressful and I no longer enjoy it like I used to. I have some planned expenditure up until then, hence the time-frame to stay in work.
I think I’d like to take some time off initially, before potentially looking for something part-time / flexible / remote to help give me routine and structure, and to keep the grey matter ticking over. However, I also want to be financially secure enough, that there is no pressure on having to earn, so I could consider volunteering.

I am in receipt of a dependents pension (my husband passed away aged 37), which is now @£15,500 pa.
I have a GIA and ISA of £130,000 along with £40,000 in cash which I plan to use to fund myself up until age 57 when I can access my SIPP (current value £670,000).

I share the household bills with my partner, and this is £650 per month. My 2 children are still at home, so I expect this will reduce when they leave, but I’d prefer to err on the side of caution and budget for this full amount. On top of this I’ve budgeted for a further £500 per month for personal things like car, gym, mobile, eating out, hairdresser etc. I plan to draw down from capital to fund larger costs such as holidays, car replacement etc.

I have no debts and have repaid my mortgage. I have saved £20,000 each for both my children in a JISA, and they will also receive a dependents pension of currently £6,500 per annum up until age 21, if they stay in full-time education. So I don’t plan to provide further financial assistance should they go to university.

One concern I have is that I am too young? I’ve always worked and I’ve had to juggle a huge amount being widowed with 2 tiny children, so will I get bored? But I’m also exhausted, and want to give myself more time to enjoy the things I want.

Would very much appreciate your thoughts and observations

Thanks 

Any opportunity to go part time ?

[Deleted User]

Smudeismydog, Financially you seem in an extremely strong position. You could probably give up work completely without too many concerns. If you worry about becoming bored you could always consider  offering your services to the voluntary/ charitable sectors.
Welcome to my thread. Best wishes.