Bold leap into retirement

dharm999

MetaPhysical said:

Cobbler_tone said:

MetaPhysical said:

Smudgeismydog said:

HUSKYPAL said:

@Smudgeismydog - Have to say, this is the most helpful and useful forum I've found anywhere on the web for real world numbers and information. Very refreshing to have a community of like minded people with a simple objective to help each other navigate what can be a tricky decision, and to see what's likely on the other side. Thanks for starting it. I'd love to see some more updates from earlier posters as to how their plans/finances have panned out over time. My end date keeps creeping forward, now looking at June 27, but could be sooner, work motivation sinking below basement level...

Hello early posters;

@leosayer, @MetaPhysical, @savingmore, @Daffodil1234, @handful, @squashtraveller , @AliBee16, @cloud_dog

Do you fancy letting us know how you are getting on?

 I'm recovering from that but life without private medical cover is something I approach with trepidation, especially with my right hip.  I may explore options for buying my own cover (which I know won't cover that hip).

That is a good benefit but you might find the policies expensive, easily racking up £5k a year and then you'll have excesses and restrictions. Personal choice, but it may be a better option to self fund. You have a good income and cash in the bank, anything from a few grand to maybe £15k for a major op like a hip replacement could be money well spent, that fingers crossed you never have to. I have regular injections via BUPA which are around £1,500 a time. I will do a combination of self funding and NHS, as the consultant (the same either way) has told me it takes 18 months on the NHS to get one. 
If you have money, spending it on maintaining and improving your health is money well spent IMO. 

Yes, I completely agree.  I am going to start putting £250 a month into a "health" pot for these kinds of eventuality and invest it (80% MM fund + 20% equities). 

I have hip dysplasia where the femur ball isn't fully inserted into the pelvic socket and my hip will definitely need to be replaced eventually.  I have it in both hips but the right hip is where it is worse.  Many people have this but a lot of people can get through their life without it wearing out the cartilage. In my case consultant said it could be next year or it could be fifteen years, but it will need to be done eventually.

@MetaPhysical,  as I understand it, if you take out a policy so there is no break in cover then there wouldn’t be any exclusions for pre-existing conditions, other than any that the employer policy has.  So your hip may well be covered.  Maybe worth thinking about taking out the cover yourself, having the op in the next 12 months a nd then cancelling the policy.  Needs looking at in more detail, but I would guess it’s worth a look.

cloud_dog

Smudgeismydog said:

HUSKYPAL said:

@Smudgeismydog - Have to say, this is the most helpful and useful forum I've found anywhere on the web for real world numbers and information. Very refreshing to have a community of like minded people with a simple objective to help each other navigate what can be a tricky decision, and to see what's likely on the other side. Thanks for starting it. I'd love to see some more updates from earlier posters as to how their plans/finances have panned out over time. My end date keeps creeping forward, now looking at June 27, but could be sooner, work motivation sinking below basement level...

Hello early posters;

@leosayer, @MetaPhysical, @savingmore, @Daffodil1234, @handful, @squashtraveller , @AliBee16, @cloud_dog

Do you fancy letting us know how you are getting on?

Hi @Smudgeismydog, congratulations on the longevity of this thread.

TL/DR It's been great!

Our retirement (partner 1 year / me 8 months) was earlier than originally planned and so some of our financial plans haven't been executed just yet, but our kid finishes Uni next year so life will become a little more straightforward.

From my perspective I have simply been wallowing    in the removal of my working life commitments, stress, etc.  That has been huge for me.  We have been away on a number of trips (just home from the last one), but most of my time has been (eagerly) taken up by pottering around the house and undertaking some of those 'must do' jobs and some 'wish I could' jobs.  Moving to the inside jobs now.

It is really just the flexibility of being able to 'do things', and I've lost count of the number of places we have visited (partner is a huge history buff).  They created a Google Map page with historical places in GB and we are working our way through them.  We haven't felt the need, just yet, to add new activities / hobbies / interactions into our lives just yet.

Bigger news for use is that after a lot of deliberation we are buying a motorhome (arriving next March) and so this will then commence longer phases for exploring Europe.  So very looking forward to the commencement of that.

Financially, I am still going backwards and forwards on the numbers for taking my DB scheme early (pro's / con's), but I really need to finalise this. 

Smudgeismydog

How lovely to hear from you @cloud_dog, sounds like you have had some lovely adventures

Can I ask, have missed work at all? Any regrets? 

cloud_dog

Smudgeismydog said:

How lovely to hear from you @cloud_dog, sounds like you have had some lovely adventures

Can I ask, have missed work at all? Any regrets? 

As the song goes...."Regrets, I've had none!".  No not missed work.  Was only thinking the other day that I have missed interacting with a number of my old colleagues though.  I've received a few calls over the last 8 months regarding work stuff, which I am happy to engage with.  It feels nice, better, on my terms, and without worrying about the corporate consideration aspect 😊

The only regret is going to be the....if we had more money we could be doing more (this is where the CoL increases has had a bearing on the budget), but you adapt, and importantly I would not give up one day of my freedom to add a little more money. 

I think extending my end date (from Christmas to end March) was a good decision in the end.  Having so much spare time all of a sudden and no (weather) restrictions on just going out / doing things, made the commencement of this new life phase so much fuller. So whilst I would never say for people to work longer than they can / wish to, I think planning for a Spring or a better weather stop point is something not to be underestimated. 

AliBee16

Hi @smudgeismydog early contributor replying here

I cant believe its been nearly 2 years, its gone so fast. I dont regret my decision to stop, my health and stress levels have improved no end. Ive kept up my one day a week at work and enjoy catching up with colleagues and the lack of responsibility and, of course, the extra bit of money. However I think its nearly time to give that up as well. The physicality of even one day doing delivery, lifting heavy weights etc doesnt suit when I'm nearly 65.

Financially my income from annuity, wages and tax free income from SIPP have lasted very well. In fact that worked out as a monthly income of £2600 after tax and I've put back £17000 in savings. I will need to buy a car soon so that will get used up. I have done whatever I want with no sense of frugality, though I havent had expensive holidays, just a few short breaks in UK and Europe.

Mentally I'm much happier. Even waking and getting up at 8.30 rather than the previous 15 years of 5.30am is wonderful. Im so grateful that I was able to retire, financially, when I see some colleagues growing frailer and probably never able to retire. 
Ive never got a routine together other than babysitting my grandson on Mondays and work on Wednesdays. I thought I would be painting, crafting, writing, yogaing, gyming, zumbaing in various groups and going up to London for plays, exhibitions, but I'm still in the pottering around, reading, meeting friends for lunch stage. It took a while to stop feeling guilty about not doing something worthy every available moment, as if I was on holiday and need to make the most of it. I also feel the need to keep up my social life, more difficult in Winter, as I'm finally an empty nester. I could go for days without seeing anyone if it were not for my lovely friends and daughter popping in. Its a good job I like my own company but I do need to make that effort.

Now I'm seeing friends of my age with various health conditions so I'm grateful to have this sweet spot of good health, financial security and blessed time. Now just to find an interesting exercise routine to keep me going. This still evades me unfortunately

infj

It is really just the flexibility of being able to 'do things', and I've lost count of the number of places we have visited (partner is a huge history buff).  They created a Google Map page with historical places in GB and we are working our way through them.  

@cloud_dog - what a great idea. I like places and museums like this too and one of the items on my to do list when I do finally get to escape was to create a spreadsheet of places within easy reach, places requiring longer and places needing at least a week to enjoy. I often see TV reports about places and think "I'd like to visit there", followed by "I really should start that spreadsheet!". I've yet to actually do so though 

kempiejon

infj said:
...I like places and museums like this too and one of the items on my to do list when I do finally get to escape was to create a spreadsheet of places within easy reach, places requiring longer and places needing at least a week to enjoy. I often see TV reports about places and think "I'd like to visit there", followed by "I really should start that spreadsheet!". I've yet to actually do so though 

Talking about things I thought I would do when I retired became a popular chat but we've got to move from talking to doing so please start the list. I have a list started before retirement, I'm working through some activities to try and jobs to do about the home and garden. I'm adding as fast as I can complete.
I'd bought about half a shelf of books and movies to enjoy when I got my time back. I could happily spend all day in a book but other than holidays that wasn't practical with the time work soaked up.

cloud_dog

infj said:

It is really just the flexibility of being able to 'do things', and I've lost count of the number of places we have visited (partner is a huge history buff).  They created a Google Map page with historical places in GB and we are working our way through them.  

@cloud_dog - what a great idea. I like places and museums like this too and one of the items on my to do list when I do finally get to escape was to create a spreadsheet of places within easy reach, places requiring longer and places needing at least a week to enjoy. I often see TV reports about places and think "I'd like to visit there", followed by "I really should start that spreadsheet!". I've yet to actually do so though 

Using a Google Map (or any product) is quite useful as there have been a couple of occasions where we were visiting distant relatives and then decided to look for any places on the map near us, so quite useful. 👍

cfw1994

cloud_dog said:

Smudgeismydog said:

How lovely to hear from you @cloud_dog, sounds like you have had some lovely adventures

Can I ask, have missed work at all? Any regrets? 

As the song goes...."Regrets, I've had none!".  No not missed work.  Was only thinking the other day that I have missed interacting with a number of my old colleagues though.  I've received a few calls over the last 8 months regarding work stuff, which I am happy to engage with.  It feels nice, better, on my terms, and without worrying about the corporate consideration aspect 😊

The only regret is going to be the....if we had more money we could be doing more (this is where the CoL increases has had a bearing on the budget), but you adapt, and importantly I would not give up one day of my freedom to add a little more money. 

I think extending my end date (from Christmas to end March) was a good decision in the end.  Having so much spare time all of a sudden and no (weather) restrictions on just going out / doing things, made the commencement of this new life phase so much fuller. So whilst I would never say for people to work longer than they can / wish to, I think planning for a Spring or a better weather stop point is something not to be underestimated. 

Ah, absolutely agree - remember my thread here on that topic?  You were first to reply!

Moonwolf

cfw1994 said:

cloud_dog said:

Smudgeismydog said:

How lovely to hear from you @cloud_dog, sounds like you have had some lovely adventures

Can I ask, have missed work at all? Any regrets? 

As the song goes...."Regrets, I've had none!".  No not missed work.  Was only thinking the other day that I have missed interacting with a number of my old colleagues though.  I've received a few calls over the last 8 months regarding work stuff, which I am happy to engage with.  It feels nice, better, on my terms, and without worrying about the corporate consideration aspect 😊

The only regret is going to be the....if we had more money we could be doing more (this is where the CoL increases has had a bearing on the budget), but you adapt, and importantly I would not give up one day of my freedom to add a little more money. 

I think extending my end date (from Christmas to end March) was a good decision in the end.  Having so much spare time all of a sudden and no (weather) restrictions on just going out / doing things, made the commencement of this new life phase so much fuller. So whilst I would never say for people to work longer than they can / wish to, I think planning for a Spring or a better weather stop point is something not to be underestimated. 

Ah, absolutely agree - remember my thread here on that topic?  You were first to reply!

I retired last March and one of the best things has been this summer’s weather. Just deciding to go to York or Harlow Carr or Ilkley on a week day without any planning has been lovely, being able to keep up with the garden, just going for walks locally. I wonder if I would have enjoyed it less had it been one of those very wet summers.