Bold leap into retirement

cloud_dog

https://forums.moneysavingexpert.com/discussion/comment/81968404#Comment_81968404

I know what you mean, but for me I cared about the outcome (part of the reason I extended my notice period), I was just less (non existent) interested in any internal ramifications; I could be honest with the business without having to worry about tomorrow 😁

A great example is with one of the major projects which the business had decided we needed to implement, and to which I raised concerns about how they were proposing doing it and the timescales they had arbitrarily applied to it. I gave them a phased proposal with how they should approach everything and migrate over, together with indicative timelines, but no it was head in the sand and move forward. Recently spoke with a colleague and asked how the project was progressing, and he informed me that after 18 months the business had canned the project, realising the undertaking was very involved and they would be no where near to completing it on time. Made me smile, but still feel for my old customers.

NormalNorman

Since retirement is two to three years off I've decided to give my old MoneyBox app account a purpose, enable roundups. Being able to collect roundups from all my accounts seems to accumulate about £100 every three months. This is despite trying to be frugal maxing out pension savings.

The goal is for the roundups to cover the 'getting out the country' costs to our favourite long haul destination.

Roughly, £1000 to cover travel insurance, transit hotel, airport parking, cattery and optionally an airport hotel the night before departure.

Although it's a while away it's a nice retirement motivator to have :)

Cheers!

katejo

I am making that leap this week. I accidentally created a new thread which I didn't mean to do but never mind! I meant to just say here that tomorrow is my last work day and Friday is my farewell do. Fingers crossed 🤞 that it will live up to expectations! Off to Spain next week.

bjorn_toby_wilde

https://forums.moneysavingexpert.com/discussion/comment/81980780#Comment_81980780

Brilliant! Hope you have a lovely time in Spain.

Smudgeismydog

https://forums.moneysavingexpert.com/discussion/comment/81980780#Comment_81980780

Huge congrats,

How are you feeling?

Have a great holiday xx

katejo

https://forums.moneysavingexpert.com/discussion/comment/81980894#Comment_81980894

Mostly positive! Just a little natural apprehension. Will report back after the first few months.

NormalNorman

https://forums.moneysavingexpert.com/discussion/comment/81980780#Comment_81980780

Hope you have a great trip! A mate just retired to Spain so hoping for a cheap visit when he's settled 🤞

MetaPhysical

Been on my third holiday since I retired last December. Loving it and the ability to book last minute at cheap prices! We just returned from a stay at a four-star-plus magnificent hotel in Paphos for £1300 for two, all in!

MetaPhysical

You are in a fantastic position.

Exactly as @HUSKYPAL says. Tell them you are leaving to a competitor, or words to that effect appropriate to your industry, and have signed a NDA with the new employer such that you are not allowed to say to your current employer where you are going. They may walk you out the door due to risking their intellectual capital. If they won't do this then call in sick with stress, mental health issues, bad back etc every week or so. They will soon get the message you are on the way out and can't be relied upon. Remember, you are now defending YOUR interests from this point forward, NOT your employer's. Sorry to be frank but fxxx them from now on.

mrklaw

https://forums.moneysavingexpert.com/discussion/comment/81966812#Comment_81966812

if you’re retiring at 60 and planning to use cash savings or S&S ISA to get to 67 that would not be as tax efficient as if you have a DC pot you can draw from. You have 7 years of personal allowance that would be efficient to use up. thats £87500 tax free you’re missing out on by using ISAs.

if you don’t have money in a DC pot you could consider using the ISAs to pump money into a SIPP in the time you have before retiring - gets you a 25% minimum boost from HMRC and you can still draw tax free up to about 120k (16760 per year)