Bold leap into retirement

Smudgeismydog

I know ☹️
It’s a wobble, and we all know we will face them from time to time 

Your plans have been well thought through, and are able to withstand this 

(but he is certainly an orange menace) 

pterri

Smudgeismydog said:

I know ☹️
It’s a wobble, and we all know we will face them from time to time 

Your plans have been well thought through, and are able to withstand this 

(but he is certainly an orange menace) 

Yep, plenty of float and only for three years until the DB kicks in. Hopefully it will recover somewhat. I may put a chunk in a high interest cash account as a buffer But not going to do anything rash. On the bright side. I’ve got about £3k coming into the SIPP from the HMRC over the next few weeks so may buy in the dip. 

Moonwolf

I'm feeling the same.  I had moved some of my pension recently to a couple of less volatile funds and my plan does allow me to draw cash. 

Work have just annnounced massive cuts as well so I've missed out on redundancy, if I had waited 12 months the picture would have been quite different. Redundancy would have either given me cash or let me offset the capitalisations costs and taken the DB early without reductions.

pterri

Moonwolf said:

I'm feeling the same.  I had moved some of my pension recently to a couple of less volatile funds and my plan does allow me to draw cash. 

Work have just annnounced massive cust as well so I've missed out on redudancy, if I had waited 12 months the picture would have been quite different. Redundancy would have either given me cash or let me offset the capitalisations costs and taken the DB early without reductions.

We had a round a few years ago but was too early for me. Would have been perfect if it had happened now. No point dwelling on it, it’s a pain though. If the market recovers over the next few months I may transfer a chunk (a year or so of spend) into a high interest or money market fund, just for peace of mind 

Cobbler_tone

From a purely selfish perspective the economic landscape (over the past few years) could lead to being offered redundancy at some point, although I do have some influence and control on that. 
However, I have seen over the years that it is extremely unhealthy to 'hold on' for redundancy. I openly told one member of staff that I would never make him redundant because he was in 'hiding' for 4/5 years in various project roles. He retired very soon after.
I have very much picked a date and redundancy would just be a bonus.

Anyone actually seeking it could do with working for one of the universities at the moment, open season!

nicknameless

Well just had my vol redundancy confirmed.  Have 2 weeks to sign docs.  Will finish end of June.

Am literally in shock right now.  Not sure how I thought I would react and it has been absolute mental torture waiting for the outcome.  Now it's confirmed am a bit numb.

Is there a psychiatrist in the house?

Sarahspangles

nicknameless said:

Well just had my vol redundancy confirmed.  Have 2 weeks to sign docs.  Will finish end of June.

Am literally in shock right now.  Not sure how I thought I would react and it has been absolute mental torture waiting for the outcome.  Now it's confirmed am a bit numb.

Is there a psychiatrist in the house?

I’m not, but a) Congratulations and b) I think I know what you mean. I said to OH yesterday that, as a life stage, retirement is as big a thing as leaving school. The same sense of going into the unknown, followed by anticlimax and trying to find some replacement structure.

nicknameless

Sarahspangles said:

nicknameless said:

Well just had my vol redundancy confirmed.  Have 2 weeks to sign docs.  Will finish end of June.

Am literally in shock right now.  Not sure how I thought I would react and it has been absolute mental torture waiting for the outcome.  Now it's confirmed am a bit numb.

Is there a psychiatrist in the house?

I’m not, but a) Congratulations and b) I think I know what you mean. I said to OH yesterday that, as a life stage, retirement is as big a thing as leaving school. The same sense of going into the unknown, followed by anticlimax and trying to find some replacement structure.

It's absolutely massive.  Have been in my current role for 25 years.  Spent the morning in meetings with close colleagues / staff - had a bit of a laugh as well.  Find out about redundancy straight after.  I know I am going (have already made the decision) but still it is very difficult to comprehend.

SouthCoastBoy

Sarahspangles said:

nicknameless said:

Well just had my vol redundancy confirmed.  Have 2 weeks to sign docs.  Will finish end of June.

Am literally in shock right now.  Not sure how I thought I would react and it has been absolute mental torture waiting for the outcome.  Now it's confirmed am a bit numb.

Is there a psychiatrist in the house?

I’m not, but a) Congratulations and b) I think I know what you mean. I said to OH yesterday that, as a life stage, retirement is as big a thing as leaving school. The same sense of going into the unknown, followed by anticlimax and trying to find some replacement structure.

I would say it is bigger than leaving school. When leaving school you have your whole life in front of you, with many possibilities, I found it all very exciting. With retirement you know the majority of your life is over and you are in the final phase of your life, hoping you have enough money to live and you stay healthy for as long as possible. The prospects aren't great,tbh the more I think about retirement the more I find it less appealing

bjorn_toby_wilde

SouthCoastBoy said:

Sarahspangles said:

nicknameless said:

Well just had my vol redundancy confirmed.  Have 2 weeks to sign docs.  Will finish end of June.

Am literally in shock right now.  Not sure how I thought I would react and it has been absolute mental torture waiting for the outcome.  Now it's confirmed am a bit numb.

Is there a psychiatrist in the house?

I’m not, but a) Congratulations and b) I think I know what you mean. I said to OH yesterday that, as a life stage, retirement is as big a thing as leaving school. The same sense of going into the unknown, followed by anticlimax and trying to find some replacement structure.

I would say it is bigger than leaving school. When leaving school you have your whole life in front of you, with many possibilities, I found it all very exciting. With retirement you know the majority of your life is over and you are in the final phase of your life, hoping you have enough money to live and you stay healthy for as long as possible. The prospects aren't great,tbh the more I think about retirement the more I find it less appealing

Jeez that’s negative!! I understand a bit better now why you haven’t made the decision yet.

In retirement, for the first time since you were about 4 years old, you’re not required to be at school or in work. You can do exactly as you please. Surely that’s a better way to look at it?

As for possibilities, what about the holidays, the travel, the new hobbies and experiences?  I’ve done courses, volunteered, backpacked around Snowdonia in my first two years and I’ve got two long haul and one European holiday booked for this year so far.  Better than slogging away at work!