Bold leap into retirement

Ocelot

I was made redundant last March (2025) for the sixth successive time, but this time it was after 17 years, 3 months shy of my 60th birthday. The whole team went. I always said at the next redundancy I would retire (have been planning it financially for 10 years). Initially, I wasn't sure, but I always found a way of not bothering to respond to LinkedIn agents (who never read my details properly anyway). I am fully onboard now, especially as none are likely to employ me when they know my age anyway!

I must admit my activity has slowed down over autumn and winter, so hopefully I'll do more when it gets warmer. I'm single, no kids, mortgage long paid off, just one oldish cat left, who is the reason I don't go anywhere much.

I don't have that much in the way of pensions, and the redundancy paid for last year, but have been saving for almost 40 years, and the income more or less covers living expenses at the moment, without digging into the capital sum.

I'll probably get back into my side-hustle this year at my convenience!

Smudgeismydog

https://forums.moneysavingexpert.com/discussion/comment/81923238#Comment_81923238

Thanks for posting, six redundancies is a lot! Well done for continually to dust yourself off

Have you checked your State Pension forecast? Are you on track for a full pension?
You mentioned the income from your savings ‘more or less’ covers your expenditure, without needing to touch your capital. Can I ask what your plans are for the capital you have saved?

Ocelot

https://forums.moneysavingexpert.com/discussion/comment/81923400#Comment_81923400

Hi, yes, state pension is full (41 years earned, never contracted out, full SERPS up until it was abolished).

My intention is to gradually draw down on the capital sum to supplement income.