Bold leap into retirement

squashtraveller

cloud_dog said:

So I had a regular 1-2-1 catch up with my boss on Friday, and after discussing the challenges ahead and plans to resolve, I decided to let her know that I was going to call it quits by Xmas.

All the usual questions were asked, is it another job, is the date firm, would you extend.  So, it is done, and we will now put a succession plan in place.

I was intent on finishing at the end of this August. I discussed this last year and was clear in my mind. I gave my official notification with 7 months notice. Somehow, I am staying on reduced time (3 days/week) for another 6 months. Who knew!

Smudgeismydog

Hello everyone, 

Thought I’d pop by and see how you were and let you know how retirement is going so far.

We have just exchanged and will be completing on our new cottage on Wednesday. My son passed his 3 A Levels and is looking to start a Degree Apprenticeship next month. 

I have used some of my cash to fund the house purchase, and expect to use more to pay for projects in our new place.
Current figures are;

Cash £48,000
SS ISA £110,000
SIPP £817,000 

(also holding £16,000 in the joint account)

Cash and ISA will fund expenditure, along with my dependents pension until Sept 2030, when I can access my SIPP. 

Perhaps, just as important as the money side of things, retirement has meant time to get everything organised for the move (it’s been stressful), time to support my son with his results and search for an apprenticeship. Time to help my daughter learn to drive and take her to University open days, as well as helping both mum’s with jobs around their respective houses.

We’ve also volunteered for local projects of interest, had days out, met up with friends and a trip to New York with the kids 🗽.

I’m sleeping on average an extra hour a night, and my heart rate and general state of mind have improved. Honestly, I have absolutely no regrets.

I’m so excited about our move on Wednesday, and then having the time to renovate, and make the house our new home. 

If you have the time, please stop by and update how you are getting on. 

pterri

11 months and I think I’m good to go…

MetaPhysical

pterri said:

11 months and I think I’m good to go…

That's my timescale too.  August '25.  Looking to drop to a 4 day week in January after Xmas.  The fifth day for higher earners on the 110k mark is almost working for the government and not for me.

pterri

MetaPhysical said:

pterri said:

11 months and I think I’m good to go…

That's my timescale too.  August '25.  Looking to drop to a 4 day week in January after Xmas.  The fifth day for higher earners on the 110k mark is almost working for the government and not for me.

I find work an imposition to be honest! I’m not in that earning bracket but a DB pension at 60 and a DC/ISA pot to bridge between 57-60 makes it work for me.  Cannot wait. I’ve thought about dropping my hours, i still may but I suspect the stress will be similar and I just can’t be bothered. A colleague who retired at 59 came back for three days a week in a low stress role. He’s just had a small stoke, not related to work directly but just shows that you can’t predict these things so need to consider what you want to do for the last 1/3rd of your life. I intend to ride my bike, read and generally !!!!!! around….

MetaPhysical

@pterri Absolutely.  ride my bike, advance in my piano playing, walk the dales, remarry and travel. They're my objectives at 58, not more work and corporate BS!

MetaPhysical

I've gotten to the stage that I actually hate (a big word, I know) work.  I am paid well and I am as professional as I can be but I see it as an imposition on me these days which is unfair on my employer since they are paying me.  They really should be getting a lot more out of me but at 57 I just CBA with it all and all the corporate BS anymore.  So I am in cruise mode and not learning new stuff or volunteering for more work or assignments since I'll be out in a year.  I'm at the stage I want to do what I want to do in my life.  The sun is shining today (for once) and I'd rather be on my bike or in the dales with my partner on a circular walk and a pub lunch than go through the torment of work.  I've done 41 years of it now and I've had enough.

Nufcfan0572

This is actually my first comment on the forum as I have been lurking for ages gaining lots of really beneficial information. Early retirement is on my mind a lot now and reading this thread has eased a lot of my worries. I do not enjoy work and it has been refreshing to read many feel the same as many of my friends and colleagues do not. My ambition has definitely dwindled, and I suffer from anxiety which is mainly work related.

I am 52, single, no mortgage and in a decent finance job in the NHS, but I have decided to reduce my working days to 4 days a week at 55 and then take early retirement at 57 or work part time for 3 days a week max and delay taking my pensions. All depends on my finances.
I have a DB scheme from a job I was in for 22 years and that is accessible at 55, and then I joined the NHS which I have been in for the past 4 years. I have savings & a SIPP which will also help me bridge the gap until I access my DB pensions, and get my state pension.

I have been keeping a detailed breakdown of my spend since 2014, and have forecast until 2039 so feel fairly comfortable with my figures although anything can happen!

It is fantastic thinking I may only have just over two more years full time and maybe retiring in another 4. I would retire tomorrow if I could as there are so many other things I could be doing.

michaels

I find knowing you can go soon but not now makes the remaining months drag even worse rather than it being a light at the end of the tunnel...

FIREDreamer

michaels said:

I find knowing you can go soon but not now makes the remaining months drag even worse rather than it being a light at the end of the tunnel...

Having done a 6 month retirement notice period earlier this year (my choice for extra retirement leave benefits), I can 100% agree with this sentiment!

I was counting down the days like a prisoner waiting release.

I only really had to give notice of one month.