Bold leap into retirement

enthusiasticsaver

I used to work for a university and they did pre retirement workshops.  Does your employer offer anything like that?  They covered the financial side in that they explained in principle the pension scheme although most had already consulted on that but they also talked about the psychological aspects of retirement.  Some people are defined by their work/job and feel directionless when they retire.  To a certain extent I can identify with that and set myself a purpose after retirement and in my case it was hiking the South West Coast Path not only to get fit but also to explore the area of the country I live in.  It has turned out to be a hobby I love and now spend hours on the coast path each week and lead walks for various walking groups. I would also say volunteering for MSE has turned out to be more enjoyable than I thought it would as years ago I did debt counselling for a high street bank and found it very stressful.  I volunteer to listen to struggling readers at my granddaughters primary school too.  I didn't volunteer to do these all at the same time though and I would advise when you do retire you take some time to think about what you want to do.  

kimwp

On volunteering, it's good to try different things to find something you really enjoy - there are so many ways to volunteer that everyone can find something - trustee, tutoring, dog walker, charity shop volunteer, petition signing, to name a few.

Kniphofia7

@smudgeismydog - I made the decision last June and felt relieved.  We have big life changes all the time, so I'm excited.  Instead of spending 8 hours a day looking at spreadsheets and calclulations I get to use that time doing things I enjoy.  The downside is not being able to save as much as I have been.

enthusiasticsaver

Also be prepared to be a bit apprehensive about drawdown stage. After a lifetime of saving for early retirement and even after double checking my figures and getting an IFA to do a drawdown plan even now I cannot get used to spending and not saving. Luckily another income stream kicked in last year so I get my kick of saving again now we are getting closer to state pension age. 

Smudgeismydog

Thanks enthusiastic saver, I appreciate it’s a huge mindshift from squirrelling it away. I had wondered about your saving goals as you are in a the decumulation phase.

Is this what you are also experiencing kniphofia as you mention the downside for you has not been able to save so much? 

LHW99

Instead of spending 8 hours a day looking at spreadsheets and calclulations I get to use that time doing things I enjoy.

Some of us here spend too much time on spreadsheets even when retired - LoL

Kniphofia7

LHW99 said:

Instead of spending 8 hours a day looking at spreadsheets and calclulations I get to use that time doing things I enjoy.

Some of us here spend too much time on spreadsheets even when retired - LoL

I will be too, but it'll be much more fun!

Albermarle

LHW99 said:

Instead of spending 8 hours a day looking at spreadsheets and calclulations I get to use that time doing things I enjoy.

Some of us here spend too much time on spreadsheets even when retired - LoL

Since I retired I have not looked at one single spreadsheet. For me one of the main advantages of retiring !

savingholmes

Following with interest. I hope to be able to pull the plug on my day job mid 2030 and switch to passion projects instead.

Firegirl

Thanks for directing me to your thread….brilliant read and happy for you that you’ve been brave and taken the leap!