Bold leap into retirement

eastcorkram

nicknameless said:

Smudgeismydog said:

Welcome aboard nicknameless, 

Enjoy the sunshine, rest & catch up on sleep, and slowly let yourselves find a new rhythm. Do you have some trips planned, or jobs around the house you’d like to do?

Thankyou.  We are away next week for a week and loads of stuff around the house to do.  Plan is no plan for a few months and then re-evaluate if needed.

That was my plan when I stopped six months ago. I've not got to the re evaluate stage yet! 

MallyGirl

nicknameless said:

Smudgeismydog said:

Welcome aboard nicknameless, 

Enjoy the sunshine, rest & catch up on sleep, and slowly let yourselves find a new rhythm. Do you have some trips planned, or jobs around the house you’d like to do?

Thankyou.  We are away next week for a week and loads of stuff around the house to do.  Plan is no plan for a few months and then re-evaluate if needed.

same for me. 1 week to go, a week to knock a few one-off things off the list/spa day/more exercise, then a family holiday in Canada so it won't be real till we get back. The garden will be a focus for August.

Smudgeismydog

Well, it’s been a year since I took my ‘bold leap’. In some ways it’s feels like it’s flown, but then work (and my former life) feels like a very distant memory. 

I have absolutely zero regrets, the feeling of getting up in the morning when I wake, instead of with an alarm, and owning my time to do as I please is brilliant. I am so much calmer, and therefore more ‘present’ with my partner and the kids, and this is really important to me. 

I have met up with some former work colleagues, and it is very apparent nothing has changed. The talk of corporate BS, ridiculous targets, pointless meetings and office politics, have just reconfirmed why I do not miss it and have no desire to return.

The new house needed more work than we anticipated which has cost more than planned, but has also helped to keep us occupied. We are settling into our new routines, and I can’t honestly say I’ve not been bored. This week I have walked with a friend and gone to Zumba, had time with my daughter helping her to find a summer job, lunch out with my partner before watching The Salt Path in the cinema, afternoon out with our volunteering group and hiked the waterfall trail in the Brecon Beacons.


I thought it would be interesting to see how my figures have changed since I left work a year ago.

30/06/24
Cash £42,148
SS ISA £146,380
SIPP £813,056
Total £1,001,584

30/06/25
Cash £36,977
SS ISA £47,893
SIPP £866,731
Total £951,601

So a reduction of £49,983, but over the last year I have spent the following;

- £15,000 as my contribution to the joint account for household bills (utilities, food, petrol etc)
- £114,381 on buying and renovating the house

My Dependent’s pension continues to cover my joint account contribution, so the Cash and SS ISA fund my discretionary spending and share of house renovations. Although we have pretty much finished the work on the house, with just usual ongoing maintenance now.

I’ve still got over 5 years until I can access my SIPP, and have always said I’m keeping an open mind about returning to paid work, but honestly, I can’t see that happening. I don’t think I’d have the time!!

Timetoretire

Hi , 
Congratulations to all who have been enjoying retirement and all who are planning your new chapter. 
Can I join in all the excitement please?
I have 3 weeks to go!   I have a little holiday planned on Oct to see family in Portugal. Before that I will be going back home to Scotland to visit my brother. 
I have been busy looking at new hobbies , possible knit and natter, never knitted in my life, so that will be interesting.  I want to focus on health and mixing with people, as I live alone and it will be so easy just to potter around the garden and house. So walking more and I might even try a few low impact classes in the local gym. 
I've just been given some amazing news from my only daughter and son in law. Very early days, but I bet you can guess ! 
Funny how things work out! 
This will also give me a new focus. Made up! 

Thanks for reading. 

Smudgeismydog

Ooh huge congrats @Timetoretire, (on both counts)

It would seem that you will perhaps have more things to keep you busy in retirement than you might have originally anticipated. How wonderful, and knitting might now be a great hobby to take up.

I would certainly advocate getting out and mixing with people. Even though I live with my partner,  I think it’s really important to interact socially, and also to find things to stimulate your brain.

michaels

Smudgeismydog said:

Well, it’s been a year since I took my ‘bold leap’. In some ways it’s feels like it’s flown, but then work (and my former life) feels like a very distant memory. 

I have absolutely zero regrets, the feeling of getting up in the morning when I wake, instead of with an alarm, and owning my time to do as I please is brilliant. I am so much calmer, and therefore more ‘present’ with my partner and the kids, and this is really important to me. 

I have met up with some former work colleagues, and it is very apparent nothing has changed. The talk of corporate BS, ridiculous targets, pointless meetings and office politics, have just reconfirmed why I do not miss it and have no desire to return.

The new house needed more work than we anticipated which has cost more than planned, but has also helped to keep us occupied. We are settling into our new routines, and I can’t honestly say I’ve not been bored. This week I have walked with a friend and gone to Zumba, had time with my daughter helping her to find a summer job, lunch out with my partner before watching The Salt Path in the cinema, afternoon out with our volunteering group and hiked the waterfall trail in the Brecon Beacons.


I thought it would be interesting to see how my figures have changed since I left work a year ago.

30/06/24
Cash £42,148
SS ISA £146,380
SIPP £813,056
Total £1,001,584

30/06/25
Cash £36,977
SS ISA £47,893
SIPP £866,731
Total £951,601

So a reduction of £49,983, but over the last year I have spent the following;

- £15,000 as my contribution to the joint account for household bills (utilities, food, petrol etc)
- £114,381 on buying and renovating the house

My Dependent’s pension continues to cover my joint account contribution, so the Cash and SS ISA fund my discretionary spending and share of house renovations. Although we have pretty much finished the work on the house, with just usual ongoing maintenance now.

I’ve still got over 5 years until I can access my SIPP, and have always said I’m keeping an open mind about returning to paid work, but honestly, I can’t see that happening. I don’t think I’d have the time!!

100% agree on the being able to wake up naturally.

Don't forget to adjust for inflation when comparing asset values over time. It is not fun but it does make it meaningful. I always work in today's spending power terms so the 952k stays the same but the 1.002m is revalued to 1.037m

Roger175

"and hiked the waterfall trail in the Brecon Beacons."  One of my favourites. I bet the water is pretty low at the moment!, still a lovely walk nontheless.

Smudgeismydog

The hike was wonderful, and I still do not take for granted we can be that spontaneous. We can look at the forecast, pack a picnic and off we go

HudsonBay

Smudgeismydog said:

Huge congrats HudsonBay, you’ll be very welcome to join

Have you thought about what you will be retiring to? Perhaps spend some time over the next 7 months planning or putting things into place.

Keep posting to let us know how you are getting on

Thank you.  I am working on my list now and it's all starting to feel very real.  I am so excited for this new chapter.

Storcko14

Well I fired the trigger yesterday after a 38 year working life covering two very different parts of the FS sector, some hospitality jobs while studying and travelling but mostly freelance in tech after a post grad changeover.  The last 18 months have been 3 days a week, lucrative and mainly stress-free, and whilst I could have carried a bit longer, those extra days off confirmed just how much there is to do and explore outside work. 

So what next?  Some short holidays, a bike-packing trip, more time with parents, some studying starting in September and a smattering of freelance cycling related work. I also want to write a book - when I find a subject. 

And what's not next?  Strangely I always thought I'd want to do more longer trips in retirement but I don't have that urge just now.  Maybe I scratched that itch more than I realised in my 20s and 30s although a few weeks somewhere warmer during the depths of UK winter appeals.  I also don't want too much structure and predictability so planning to do something unplanned most weeks.  And no gardening.

Good to luck to everyone else who 'goes' this summer.