Bold leap into retirement

Smudgeismydog

NormalNorman said:

Reading this thread is tough mentally.

The day job is... well I'm just not interested anymore but on the other hand it's permanent [who knows just how permanent] WFH which allows a local evening job, which I enjoy, to max savings/pension/more disposable income. Wife feels the same, bored out her tree with the 9-5. It feels like a slow motion march in a straight jacket to the finish line.

Still got a couple of years getting daughter through uni in Scotland. We pay rent and utilities etc which is still a fair chunk but at least no student debt is being built up. She also earns a good PT wage.

The car is only a couple of years old and owned outright, no mortgage on the house and zero debt of any kind.

Should feel happier eh? But I don't...

Need something new in life like some sort of challenge or another snorkelling holiday. Something more than just the motions of everyday stuff and hobbies. I already volunteer and is great but only a couple of times a month. Already have nothing in the loft, paperwork filed immaculately, wills prepared etc

Part of me thinks I should make a target to remove myself from the 21% tax rate until I quite work in a few years? Already got myself out the 40% tax rate. Max out on sal sac whilst it's still here? Bonus will go into pension too.

We'd like to go to the Maldives again as not been there since 2024 but costs about £6k plus £1k just to get out the country. Cattery, travel insurance, car parking, transit hotel in Dubai etc. However, mum is terminally ill and have to help dad weekly so can't risk being far from home.

Anyway, I suppose this post isn't about money, more about the mental anguish with the endless noise of what ifs going on in my brain resulting in paralysis to make any decisions...

Until I sort myself out it's great to read everyone's posts here. Cheers!

Oh no, this isn’t supposed to be a mentally tough read!

Have you gone through all your figures? What is your likely timescale for leaving the day job? Could you manage on just the evening job? What position is your wife in? 

Sounds like you’ve got some gorgeous ideas for holidays.

We are referred to as the ‘sand which generation’ as we’ve still got responsibility for our children, but are also being called upon to help parents. 

Could you manage a mid-week break for 2 or 3 nights? A change of scenery can do the world of good

NormalNorman

Sorry for being negative. The daily grind seems never ending but on the upside numbers fine for quitting in a few years. 

Chatted to wife and will plan for a tropical trip next year. Brings a little more security such as daughter will be almost through uni, we will be a year closer to packing it in, another year of saving, hopefully the day job still exists etc. 

Today I tightened the thumbscrews further. Got confirmation from HR increasing sal sac again and setup roundups on my moneybox account so this and all my free money harvesting schemes will pay for the holiday costs to get out the country.

Cheers

CaptainSkeptical

NormalNorman said:

Reading this thread is tough mentally.

The day job is... well I'm just not interested anymore but on the other hand it's permanent [who knows just how permanent] WFH which allows a local evening job, which I enjoy, to max savings/pension/more disposable income. Wife feels the same, bored out her tree with the 9-5. It feels like a slow motion march in a straight jacket to the finish line.

Still got a couple of years getting daughter through uni in Scotland. We pay rent and utilities etc which is still a fair chunk but at least no student debt is being built up. She also earns a good PT wage.

The car is only a couple of years old and owned outright, no mortgage on the house and zero debt of any kind.

Should feel happier eh? But I don't...

Need something new in life like some sort of challenge or another snorkelling holiday. Something more than just the motions of everyday stuff and hobbies. I already volunteer and is great but only a couple of times a month. Already have nothing in the loft, paperwork filed immaculately, wills prepared etc

Part of me thinks I should make a target to remove myself from the 21% tax rate until I quite work in a few years? Already got myself out the 40% tax rate. Max out on sal sac whilst it's still here? Bonus will go into pension too.

We'd like to go to the Maldives again as not been there since 2024 but costs about £6k plus £1k just to get out the country. Cattery, travel insurance, car parking, transit hotel in Dubai etc. However, mum is terminally ill and have to help dad weekly so can't risk being far from home.

Anyway, I suppose this post isn't about money, more about the mental anguish with the endless noise of what ifs going on in my brain resulting in paralysis to make any decisions...

Until I sort myself out it's great to read everyone's posts here. Cheers!

Hi - it sounds like you may be looking for a bit more purpose ? If so, you might want to listen to Jordan Grumet who has his own website regarding finances and purpose, and talks about his life on a Rebel Finance School video on YouTube called 'Money isn't the goal'. It might give you some ideas. 

NormalNorman

CaptainSkeptical said:

NormalNorman said:

Reading this thread is tough mentally.

The day job is... well I'm just not interested anymore but on the other hand it's permanent [who knows just how permanent] WFH which allows a local evening job, which I enjoy, to max savings/pension/more disposable income. Wife feels the same, bored out her tree with the 9-5. It feels like a slow motion march in a straight jacket to the finish line.

Still got a couple of years getting daughter through uni in Scotland. We pay rent and utilities etc which is still a fair chunk but at least no student debt is being built up. She also earns a good PT wage.

The car is only a couple of years old and owned outright, no mortgage on the house and zero debt of any kind.

Should feel happier eh? But I don't...

Need something new in life like some sort of challenge or another snorkelling holiday. Something more than just the motions of everyday stuff and hobbies. I already volunteer and is great but only a couple of times a month. Already have nothing in the loft, paperwork filed immaculately, wills prepared etc

Part of me thinks I should make a target to remove myself from the 21% tax rate until I quite work in a few years? Already got myself out the 40% tax rate. Max out on sal sac whilst it's still here? Bonus will go into pension too.

We'd like to go to the Maldives again as not been there since 2024 but costs about £6k plus £1k just to get out the country. Cattery, travel insurance, car parking, transit hotel in Dubai etc. However, mum is terminally ill and have to help dad weekly so can't risk being far from home.

Anyway, I suppose this post isn't about money, more about the mental anguish with the endless noise of what ifs going on in my brain resulting in paralysis to make any decisions...

Until I sort myself out it's great to read everyone's posts here. Cheers!

Hi - it sounds like you may be looking for a bit more purpose ? If so, you might want to listen to Jordan Grumet who has his own website regarding finances and purpose, and talks about his life on a Rebel Finance School video on YouTube called 'Money isn't the goal'. It might give you some ideas. 

Good shout! Cheers

MetaPhysical

Since I retired in December, just before Christmas, I have not regretted it for one second. I've done a ton of decorating and I'm going to Lanzarote on Wednesday for ten days to chillax :)

Today has been my first "lazy" day since I retired. I almost feel guilty but, heck, I've earned the right to this after being at work for 43 years.

tooldle

Just dropping by, as now one month into my third year of early retirement. Currently in Spain with OH and our motorhome. No regrets whatsoever. The biggest surprise has been, I have not missed work at all. Plenty to occupy my time and, now also getting used to having the odd few hours of doing nothing much at all. In the past I’ve felt quite guilty when I’m not being productive but now, I’m managing to be more relaxed about it.
I’ve joined a few classes, made some new friends, caught up with old friends etc. Definitely no going back.

HUSKYPAL

I am so sick of work at the moment. The more I think about retirement, the less affinity I have with my job. Dreaming of being free, but stuck for another year (just over actually, but who's counting)

The crappy weather is probably not helping.

Guessing i'm not alone in feeling the drag and wishing my life away?

Smudgeismydog

I’m so sorry to hear that @HUSKYPAL

Are you sure you need to wait that long? Can you go part-time? Or switch to something lower paid, even if it means a bit longer?

SarahB16

https://forums.moneysavingexpert.com/discussion/comment/81870038#Comment_81870038

I'm still over eight years away from retiring but it's never the crappy weather that bothers me it's when it's warm and sunny and feeling that I'm shackled to my desk rather than being outside enjoying the lovely weather. I do understand what you're saying though. When it's crappy weather we're not as sociable so I'm sure that is having an impact on you.

I don't know what options you have at work for hybrid working or working compressed hours? Could you work from home 2 or 3 days a week? If you can work compressed hours that may help and perhaps having a day off a fortnight?

finbaar

I've read this thread for a wee bit and as my 59th birthday is only 3 days away I'll post my current plans. As my wife is 55 I'll probably go part time (3 days) at 60 and take my pension. My intention is to get used to having a lower income and just save the pension income. I'm definitely only doing that for a maximum of a year though. I'm lucky to have a final salary pension which should be enough with the savings we have to make us comfortable, particularly when my wife get all her pensions and I get my state pension as well. One thing that might change these plans is that our company is offering MAVE (mutually agreed exit scheme, which sounds like euthanasia to me, but anyway) if I can get that I would take the nice lump sum. It's currently capped at £63k nett but that would do nicely.