Bold leap into retirement

ex-pat_scot

I'm now aiming to give my notice to finish at end Aug; that coincides with busy season to maximise earning potential as a contractor up to Christmas, then work flexibly thereafter.
I'll (hopefully) still be doing a fair bit for my current employer, but not full time, and have the opportunity for other projects.

I don't really want to anchor my "retirement date" to end of univ for a few reasons - one being I will be a few years older, one that I dont want the children to think I'm only carrying on for their sake, and also that I see this as a glide path rather than a hard stop

kipsterno1

I like to think I made the most out of my last week in work. I finished on Thursday and due to having been sent a reminder that my first aid qualification was due to expire attended and passed a full day course on Tuesday 

IamWood

MallyGirl said:

BestnamesRgone said:

I’ve been following this thread with interest. I have an eye on the exit door as am bored with my job, manager is ummm challenging to say the least, but realistically need another 14 months to see my daughter through uni etc ….However there is a big restructuring being planned at work with the talk of a lot of roles going so maybe I won’t have to wish the next 14 months away….

My exit plan is around seeing my daughter through uni too - 2 years to go for her means 2 years in work for me.

That is my plan too.

I've just celebrated my fiftieth birthday.

Currently, I'm earning a decent salary (around 200K) with the flexibility of WFH. There's potential for me to earn significantly more if I were willing to relocate to London being present in office 3 more days -- I was attempted but am now settled with my current arrangement.

Although retirement now is an option, I'm leaning towards continuing for another five years to ensure a comfortable financial future, eps with pension contributions without the lifetime allowance. Moreover, I'm in a position to make substantial contributions to assist my children in climbing onto the property ladder. But it's so appealing to retire to do something more meaningful!

amateur_house

I've been following this thread and looking forward to reducing my hours from full time to 3 days a week. I put my request in to start from next month when I'll be 61, only to have it rejected. So I'm now feeling envious of everyone else on this thread!

Unfortunately retiring isn't an option - I have a DB pension of only £6k per annum, and a DC pension pot with just under £60k, so nowhere near enough to last 6 years until I can claim the state pension.

I'll continue with the full time hours for the time being, but have told them I will be looking for another job with part time hours as soon as possible.

older_and_no_wiser

cloud_dog said:

MetaPhysical said:

Smudgeismydog said:

I’m so sorry to hear that, do you think you can keep your head down for another 16 months?

Yes, I will hang in there but I feel am wasting my life. Another week of this nonsense and I may not be able to constrain myself telling them where to get off... However, I can get another £60k into my fund in this remaining 16 months.

Have to be honest, since we set our R-Date (181 days to go), my frustration threshold and ability to put up with business bull carp is getting lower and lower, which actually saddens me a little as I enjoy the business area I work in and delivering for my clients; employer, not so much  

Yes, I completely agree! Now that I've told the company when I'm retiring, I am much less tolerant of stressful situations at work. I just feel that I don't need the hassle and almost just told them where to stick it a couple of times. 

dharm999

Two more weeks till go on garden leave, and then six months of unwinding and recharging the batteries before deciding if I want to get back in to the job market.  Hoping for some decent weather, to make the most of the six months.  Finding it very difficult to stay motivated to do anything at all, being so close to the finishing line, but need to keep work onside just in case.  I don’t believe in burning bridges unnecessarily as you never know what’s around the corner.  

Have started thinking about how to fund living expenses once the salary stops, and various recent threads have been very helpful.  I do think that I need to get my plans checked, just to make sure I’m not missing anything obvious, so will pay an IFA for a one off review, as I DIY things at the moment, and it would be good to get a third party view, even if all it does is reinforce my plans.  But that’s for the summer, no rush right now.

katejo

kipsterno1 said:

I like to think I made the most out of my last week in work. I finished on Thursday and due to having been sent a reminder that my first aid qualification was due to expire attended and passed a full day course on Tuesday 

I have been an official first aider with the. FAW qualification since the early 90s. I am due to renew later this month. I wonder what they will do for cover when I retire. Only 1 colleague is qualified and she is only 1 year younger. No one else is willing to commit to it. We get a tiny pay supplement for doing it but this has not increased in all the years I have been doing it! 

MetaPhysical

Interesting so many fifty -somethings want to retire.  I never felt that way in my forties.  Now I can't wait to go.  Wonder why so many of us think the same?  Just tired with work?  Getting older and awareness of our own mortality?

Phossy

MetaPhysical said:

Interesting so many fifty -somethings want to retire.  I never felt that way in my forties.  Now I can't wait to go.  Wonder why so many of us think the same?  Just tired with work?  Getting older and awareness of our own mortality?

Awareness that I can retire is a big factor for me - when something is visible / in sight then it occupies the mind more and you start to look at the possibilities. 

Smudgeismydog

My partner and I have been discussing this. We feel we are too long in the tooth to put up with the BS any more, and we have no desire to ‘play the game’ or climb the greasy corporate pole. This is coupled with the understanding and appreciation we don’t have to.

I think we also have a greater awareness and desire to spend time together pursuing active hobbies and interests while we are physically able to. As we’ve all seen, too many people are not able to enjoy the retirement they imagined they would. Time and health are two of the most important things.

I have no problem with taking on a part-time, short-term or even Christmas job if I want or need to at a later date.

What are you waiting for?