Bold leap into retirement

Smudgeismydog

Hi @Daffodil1234, yes, I’m handing back my equipment tomorrow, I will be using up holiday, so paid until the end of the month. Thanks for remembering and best wishes for your last day too.

I have also had a couple of moments of thinking ‘are we going to be ok’, but I have had no regrets about handing in my notice. I hope your last few days in work have been good and that you will leave on a high. Please come back and let me know how it goes

FIREDreamer

Not long for me now - just over a week.

SouthCoastBoy

Congratulations to all on making the move to retirement. I would be interested in any post retirement updates, i.e. is it what you anticipated, more or less expensive than expected etc.

Vespaboy

6 weeks to go for me and I also go from will this be ok to it will be fine 

looking for a camper van now for the next chapter 

Florafauna

I am working through the last few weeks of term ,it's mixed emotions as I will miss my colleagues and the children but am emotionally and mentally fried.  Education is now such a difficult environment and I am done .
I will be living on savings for the next five years and then will start to draw from my pensions. Think I'm going to spend the first few weeks sleeping!

pterri

Well done! I’ll be 57 next year (2025 July) and am thinking of leaping. I want the time back, working in a stressful ‘professional’ position is making me ill, not dreadfully so but in that grinding way. I’m very conservative financially which paradoxically makes going very early, seen by some as reckless, possible as I’ve always saved. My position, mainly due to a DB pension and not over stretching myself house buying.

no mortgage or dependants

my DB pension will be worth £37k if I take it at 60. Loose a chunk if I take it at 57 so planning to use my SIPP and ISA until then
SIPP £110k
ISA £87k
ive got £130k in AVCs long story but I can take that as a tax free lump sum without affecting my DB or transfer it to my SIPP. I can only do this at the same time as starting my DB.
full state pension at 67

so essentially I’ll use my SIPP and ISA to tick over to 60 (three years) then I’m in a good place.

ive probably ‘over saved’ but I’ve never felt I’ve missed out, except time spent at work. Pay back time!

best of luck smudge, hope it works out. I’m sure it will

pterri

bluenose1 said:

I had a lot of anxiety the last year whilst working, I even went to Drs as thought I had heart issues as terrible pain in chest plus turned out I had really high blood pressure. 
After a brilliant consultation with her she said it was anxiety and stress caused by work….
That was the catalyst for me, I gave my 3 months notice in and throughout that period was constantly worried that I was doing the right thing financially etc etc.
Now been retired just over 4 months and the chest pains have stopped and my blood pressure is now healthy.
Ironically since day one of retirement all the money worries have disappeared. Valuing my freedom so much and love being not accountable to an employer. 

I used Guiide.co.uk to check my excel workings and another good one that put  things in perspective was a USA site - Rich, Dead or Broke. You just put £ in instead of $. In every scenario I was far more likely to be dead than broke, though maybe not very rich
https://engaging-data.com/will-money-last-retire-early/

Yes, Guiide is excellent. I’m all good for 57 (next year) I think

huw01

One more week to go, my equipment is being collected on the 28th of June.
Yay

Workerbee999

Oooh keep these updates coming! OH retired a month ago and already his average resting heart rate has dropped and his sleeping improved. I’ll be finishing Dec25, so 18 months to go, but we are nearly there with the plan and now saving up for the nice things like travel. That keeps me going but seeing others making the leap makes it even more exciting!

FIREDreamer

huw01 said:

One more week to go, my equipment is being collected on the 28th of June.
Yay

I have to take mine back in. ☹️