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Bold leap into retirement
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Cus said:barnstar2077 said:cloud_dog said:cloud_dog said:
Annoyingly it looks like my product will win a new contract for a national system rollout (outside the UK). I've done three of these national implementations over the last 15 years, and it is both extremely challenging and exciting (hugely rewarding) all at the same time. It is the sort of engagement that has me chomping at the bit.
It would likely be a two (plus) year undertaking. Hmmm. My employer has commented about the possibility of staying on for it. Haven't mentioned any of this to the OH. Hmmm. Will sleep on it (so to speak).
I asked what that meant, and they came back with, 'until the end of March 2025?'.
More sleeping to be done over the weekend me thinksThink first of your goal, then make it happen!1 -
It's tricky isn't it, how much is enough. For me there is always the temptation to continue working, especially if you don't dislike your job.
If I lived in a country with a nice warm climate I think my views may be different, as good weather makes such a difference to the type of life you can lead.It's just my opinion and not advice.1 -
Thanks all for your valid thoughts and insights.
There are a few variables at play here.
The fact that I didn't respond with a no straightaway may be psychologically telling.
My (our) route to where we are was based on a frustration with my employer, having a numerical target for retirement, and basically reaching the target early.
As sad as it is my previous target was based on stopping at the end of the financial year 2025 just because it made a nice neat end / start for the tax situation.
So, there is this linkage with a previously planned end date, and I am unsure whether there is some pull in that? Unsure.
Perhaps there is also an element of the finality, the comment previously about those extra 3 months making it additionally just that bit more secure, may well have a comfort element to it.
Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone1 -
cloud_dog said:Thanks all for your valid thoughts and insights.
There are a few variables at play here.
The fact that I didn't respond with a no straightaway may be psychologically telling.
My (our) route to where we are was based on a frustration with my employer, having a numerical target for retirement, and basically reaching the target early.
As sad as it is my previous target was based on stopping at the end of the financial year 2025 just because it made a nice neat end / start for the tax situation.
So, there is this linkage with a previously planned end date, and I am unsure whether there is some pull in that? Unsure.
Perhaps there is also an element of the finality, the comment previously about those extra 3 months making it additionally just that bit more secure, may well have a comfort element to it.1 -
Just catching up on your thread! Lovely to read about people a few years ahead of me and the thought processes when close to retirement.
I hope you’ve come to a decision you’re happy with now. Did the not saying no straight away sway you in the end?Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535
Retirement Planning
Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,5000 -
cloud_dog said:Thanks all for your valid thoughts and insights.
There are a few variables at play here.
The fact that I didn't respond with a no straightaway may be psychologically telling.
My (our) route to where we are was based on a frustration with my employer, having a numerical target for retirement, and basically reaching the target early.
As sad as it is my previous target was based on stopping at the end of the financial year 2025 just because it made a nice neat end / start for the tax situation.
So, there is this linkage with a previously planned end date, and I am unsure whether there is some pull in that? Unsure.
Perhaps there is also an element of the finality, the comment previously about those extra 3 months making it additionally just that bit more secure, may well have a comfort element to it.
We have agreed we will ring fence and use the additional financial benefit (overall about a £20k net gain) for retirement enjoyment, e.g. we will be actively looking at how and where we use it, e.g. more travel or possibly purchasing the campervan earlier. Nice problems to take up your time with.
I have also advised my employer that there will not be any further extensions.
(I'll have to reset my countdown timer on the door 😁)Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone2 -
Hope you feel better having made the decision, and start planning those campervan adventures!I’m a Forum Ambassador and I support the Forum Team on the Pension, Debt Free Wanabee, and Over 50 Money Saving boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the Report button, or by e-mailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.1
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cloud_dog said:cloud_dog said:Thanks all for your valid thoughts and insights.
There are a few variables at play here.
The fact that I didn't respond with a no straightaway may be psychologically telling.
My (our) route to where we are was based on a frustration with my employer, having a numerical target for retirement, and basically reaching the target early.
As sad as it is my previous target was based on stopping at the end of the financial year 2025 just because it made a nice neat end / start for the tax situation.
So, there is this linkage with a previously planned end date, and I am unsure whether there is some pull in that? Unsure.
Perhaps there is also an element of the finality, the comment previously about those extra 3 months making it additionally just that bit more secure, may well have a comfort element to it.
We have agreed we will ring fence and use the additional financial benefit (overall about a £20k net gain) for retirement enjoyment, e.g. we will be actively looking at how and where we use it, e.g. more travel or possibly purchasing the campervan earlier. Nice problems to take up your time with.
I have also advised my employer that there will not be any further extensions.
(I'll have to reset my countdown timer on the door 😁)1 -
@MeteredOut ha ha ha.
That will not be happening.
I have already explained to the business that my last day (end March minus annual leave) means I will likely leave prior to the end of acceptance testing for the April release, so they need to factor that in 😯
Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
pterri said:cloud_dog said:Thanks all for your valid thoughts and insights.
There are a few variables at play here.
The fact that I didn't respond with a no straightaway may be psychologically telling.
My (our) route to where we are was based on a frustration with my employer, having a numerical target for retirement, and basically reaching the target early.
As sad as it is my previous target was based on stopping at the end of the financial year 2025 just because it made a nice neat end / start for the tax situation.
So, there is this linkage with a previously planned end date, and I am unsure whether there is some pull in that? Unsure.
Perhaps there is also an element of the finality, the comment previously about those extra 3 months making it additionally just that bit more secure, may well have a comfort element to it.I think....0
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