Watty's Awakening

ajmoney

What makes your heart sing @Watty1 start there x

Watty1

Right, here is the thing.  I want to retire. There.  I've said it out loud.  Well written it down to you all.

I started this diary to rebuild my savings pot and my life as I am mortgage free but had no money left after PPH.  I had a pension pot and have been adding to it when finances allow.    The hard work has really paid off when I look at the pot (although naturally it has fallen substantially given current shenanigans in the world but it will recover).  I have enough savings for 3 to 4 months and I have a little cash.

Not enough to retire and afford my life.     On the other hand, I have lost friends in the last couple of years.  Not close friends but people in my orbit and the last few days reflection and looking over my goals for the year helped me conclude that all my goals lead to one thing.  To retire with enough money to have my life minus the daily stress of my company.  Clearly my business is critical to getting to that goal.   I had goals for the year and I realise I did not have one overarching goal.  So there it is.  A retirement plan.    I just have to figure out the roadmap now.

daisy_1571

Retirement is 👍,  definitely something to aim for 😀 

Dxx 

debtfreewannabe321

My father retired at around my age now. Late forties. He took time to hand over the day to day running of his business and retired in Spain. He came back five years later, but that's cos he was bored not out of money. Is there a way you can hand over day to day running of your business and live off the proceeds. Or spend time part retired and work a few days a week until you have a good team in place? 

AnywAy I think the emails breaking was a good thing as I suspected it might be ..you needed to break the status quo and make some new plans ☀️☺️.

beanielou

Well done on the realisation. 

greenbee

I have to admit I'm getting to that point too Watty. I'm pretty sure I want to retire, but I can't face doing the maths as I know it will tell me I'm a long way off being able to. I'm not in a position to pay the mortgage off, and only once the house is finished and that's done will I know what I need to live on. So for now I'm keeping on adding to my pensions, but mostly ignoring them. Although may be this year I should get my act together and consolidate them. 

daisy_1571

certainly wouldn't be consolidating anything toooo soon, greenbee, in case you 'crystalise a loss'

Dxx

Watty1

The maths is telling me I will run out of money quickly @greenbee   Getting someone to run the business is something I could consider @debtfreewannabe321     

First step is a good clear up.  So I have cleared one shelf in the office.  It was a mess of books I want to read 'one day' which have been dusted off, evaluated, and then put upstairs on the bookcase and stationery which has been properly sorted.   Whatever I am going to do towards retirement, a good sort out of my work space is probably required.  

Corporation tax paid also.   Small steps.

earthgirl2

Watty, if you have said you want to do something, retire, then you will definitely do it 💯 Where Watty has a will, there's a way! 

Watty1

earthgirl2 said:

Watty, if you have said you want to do something, retire, then you will definitely do it 💯 Where Watty has a will, there's a way! 

What a touching post. I'm going to print that out and pop it in my journal.  It is today's step towards the plan.  Thank you.