Bold leap into retirement

SouthCoastBoy

I've Finally retired, earlier this month at aged 61.

Breakdown of finances is as follows

My s&s isa 302k 100% equities

Wife s&s isa 87k 100% equities

My company dc pension 728k 100% equities

My sipp 394k 60% equities, 40% stm

My cash isa 242k

Wife cash isa 200k

Premium bonds 100k

Shares outside isa 25k

Npi with profits pension 24k

Wife db company pension 10k per annum, payable at 60, reduction of around 1500 at 65. Currently she is 58.

Wife dB pension 5k per annum payable at 67.

Two fully funded state pensions.

Planning to spend 3k per month. Hopefully financially all set. Will have some additional costs such as cars and some bigger holidays.

Already Gifted 40k each to children for house deposits.

kempiejon

well played.

saucer

You’ve finally done it SouthCoastBoy! Well done on some great planning and taking the decision enough is enough. I’m going in 8 weeks, it’s dragging.

michaels

https://forums.moneysavingexpert.com/discussion/comment/82084811#Comment_82084811

Congratualtions

(However if the 3k a month is household then you probably could have retired 5 years earlier)

GenX0212

https://forums.moneysavingexpert.com/discussion/comment/82084811#Comment_82084811

I would say you have absolutely smashed it. Set for life, enjoy!

katejo

https://forums.moneysavingexpert.com/discussion/comment/82080296#Comment_82080296

Three months into mine so far and I haven't really established any routine/pattern. Just enjoying the good summer weather (if a bit too hot and dry) and sports events like Wimbledon when I could watch all afternoon without feeling guilty. I have been on 3 short holidays/mini breaks and have a slightly longer one in September. It's lovely to return home and not have to go to work the next day! I am having difficulty persuading myself to dip into my lump sum to go on a more expensive trip. I am being too indecisive and find myself saying "You can't justify both trips. You have to go for one or another". So far all travel has been funded from my monthly pension income. I am guilty of procrastinating over doing routine house tasks! I am no more motivated than when I was still working.

kipsterno1

https://forums.moneysavingexpert.com/discussion/comment/82084811#Comment_82084811

Congratulations and well done on taking the leap. You won't regret it.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82084906#Comment_82084906

Probably more like 10 years, but good that the deed is done and hopefully no backsliding to part time work, ' just in case' !

Currently with a conservative drawdown % they could be taking double that per month + £15K pa of DB pension to come + £25K pa of state pensions. So cracking on for £10K a month could be possible.

daveyjp

4 weeks today, almost to the minute, is the start of my retirement.

michaels

https://forums.moneysavingexpert.com/discussion/comment/82085002#Comment_82085002

And if you don't go back in tomorrow or again…what are they going to do about it?!