Is it all too good to be true?

SouthCoastBoy

Albermarle said:

Sarahspangles said:

You don’t have to answer this, but do you know what your family think?

I remember when my dad was late 50s he was a linchpin of his company, with lots of responsibility and gruelling foreign travel, including a period where it made sense for both parents to relocate to the US. This had knock on effects on care arrangements for some of the family left behind, and as young adults I and siblings took this on. I don’t resent this, it’s just an example of the way some high flyers need to draw on family support, which I don’t think is fully acknowledged.

He was grey-faced never mind grey-haired. He was finally persuaded to retire at 59 and had a great retirement. He didn’t stop being an ‘achiever’ but his interests were less stressful. He got time with my mother before her health declined, and she got time to do things she’d deprioritised to keep his show on the road. He spent time with the younger batch of grandchildren that he didn’t have with his own children and older grandchildren.

I know while he was working he was really focussed on financial security in old age, he achieved that but I feel its importance fell as soon as he retired. If you’re mostly around other people who have a fixed income, those are ‘the Joneses’. He’s leaving a respectable inheritance but we wouldn’t have cared if we’d found he’d done equity release!

Maybe if you had a conversation, or a series, about what retirement will be like, you’d be retiring TO something, and won’t feel you have to cover any eventuality?

South Coast Boy has plenty of plans, ( water sports in Australia if I remember rightly) , so that does not seem to be the issue. Just more ultra caution/anxiety about financial matters.

That's exactly it. I have plenty of interests, I run around 100 to 120 miles a month, this will increase when I retire. I also play golf, again this will increase once I retire. We also plan to spend around 6 weeks in Australia once both retired. Actually planning to go next year to watch ashes, only for 3 weeks though.

Bobziz

SouthCoastBoy said:

Albermarle said:

Sarahspangles said:

You don’t have to answer this, but do you know what your family think?

I remember when my dad was late 50s he was a linchpin of his company, with lots of responsibility and gruelling foreign travel, including a period where it made sense for both parents to relocate to the US. This had knock on effects on care arrangements for some of the family left behind, and as young adults I and siblings took this on. I don’t resent this, it’s just an example of the way some high flyers need to draw on family support, which I don’t think is fully acknowledged.

He was grey-faced never mind grey-haired. He was finally persuaded to retire at 59 and had a great retirement. He didn’t stop being an ‘achiever’ but his interests were less stressful. He got time with my mother before her health declined, and she got time to do things she’d deprioritised to keep his show on the road. He spent time with the younger batch of grandchildren that he didn’t have with his own children and older grandchildren.

I know while he was working he was really focussed on financial security in old age, he achieved that but I feel its importance fell as soon as he retired. If you’re mostly around other people who have a fixed income, those are ‘the Joneses’. He’s leaving a respectable inheritance but we wouldn’t have cared if we’d found he’d done equity release!

Maybe if you had a conversation, or a series, about what retirement will be like, you’d be retiring TO something, and won’t feel you have to cover any eventuality?

South Coast Boy has plenty of plans, ( water sports in Australia if I remember rightly) , so that does not seem to be the issue. Just more ultra caution/anxiety about financial matters.

That's exactly it. I have plenty of interests, I run around 100 to 120 miles a month, this will increase when I retire. I also play golf, again this will increase once I retire. We also plan to spend around 6 weeks in Australia once both retired. Actually planning to go next year to watch ashes, only for 3 weeks though.

Sounds fantastic. So what do your numbers need to look like for you to actually pull the plug ? 

SouthCoastBoy

Bobziz said:

SouthCoastBoy said:

Albermarle said:

Sarahspangles said:

You don’t have to answer this, but do you know what your family think?

I remember when my dad was late 50s he was a linchpin of his company, with lots of responsibility and gruelling foreign travel, including a period where it made sense for both parents to relocate to the US. This had knock on effects on care arrangements for some of the family left behind, and as young adults I and siblings took this on. I don’t resent this, it’s just an example of the way some high flyers need to draw on family support, which I don’t think is fully acknowledged.

He was grey-faced never mind grey-haired. He was finally persuaded to retire at 59 and had a great retirement. He didn’t stop being an ‘achiever’ but his interests were less stressful. He got time with my mother before her health declined, and she got time to do things she’d deprioritised to keep his show on the road. He spent time with the younger batch of grandchildren that he didn’t have with his own children and older grandchildren.

I know while he was working he was really focussed on financial security in old age, he achieved that but I feel its importance fell as soon as he retired. If you’re mostly around other people who have a fixed income, those are ‘the Joneses’. He’s leaving a respectable inheritance but we wouldn’t have cared if we’d found he’d done equity release!

Maybe if you had a conversation, or a series, about what retirement will be like, you’d be retiring TO something, and won’t feel you have to cover any eventuality?

South Coast Boy has plenty of plans, ( water sports in Australia if I remember rightly) , so that does not seem to be the issue. Just more ultra caution/anxiety about financial matters.

That's exactly it. I have plenty of interests, I run around 100 to 120 miles a month, this will increase when I retire. I also play golf, again this will increase once I retire. We also plan to spend around 6 weeks in Australia once both retired. Actually planning to go next year to watch ashes, only for 3 weeks though.

Sounds fantastic. So what do your numbers need to look like for you to actually pull the plug ? 

I'm not sure, but I need around 2500 net per mth, plus I big safety net, just in case

cfw1994

Doesn’t your other thread show you are WAY above a safety net with what you have now?

My wife was VERY supportive of me stepping away asap - how does yours feel?

NoMore

I honestly think the op will never have enough in their eyes, way too worried about the downside.  

LHW99

Why not calculate what you'd like to spend pa, and actually try living on that for a year? (You could save any excess in a new account).

You will then know if your prediction is correct, and if that fits with what you can already provide from you existing funds.

SouthCoastBoy

LHW99 said:

Why not calculate what you'd like to spend pa, and actually try living on that for a year? (You could save any excess in a new account).

You will then know if your prediction is correct, and if that fits with what you can already provide from you existing funds.

We have done this for the last two years, so know how much we need. We set up a joint account and everything comes from that. The account is funded £2500 per mth

SouthCoastBoy

NoMore said:

I honestly think the op will never have enough in their eyes, way too worried about the downside.  

Unfortunately I think you may be correct.

SouthCoastBoy

cfw1994 said:

Doesn’t your other thread show you are WAY above a safety net with what you have now?

My wife was VERY supportive of me stepping away asap - how does yours feel?

My wife says I should retire, its me who is the problem

Hoenir

Sarahspangles said:

Albermarle said:

Sarahspangles said:

You don’t have to answer this, but do you know what your family think?

South Coast Boy has plenty of plans, ( water sports in Australia if I remember rightly) , so that does not seem to be the issue. Just more ultra caution/anxiety about financial matters.

We do have to take care of our health to guarantee we’ll be able to do this stuff.

Just like investing there's no guarantees when it comes to health. The older you become. The more appreciative you become of just waking up in the morning.  There's no rhyme or reason to when your own thread will be cut.