How did you feel when you committed to retirement?

poseidon1

Once I realised I had suffcient assets to retire at 57 ( despite maintaining an ongoing mortgage), gave my 6 month notice on the expiry of which walked away without a backward glance.

Going forward life has been largely guiltless indolence, indulging an interest in art and antiques which the rigours of work had prevented. However given this pastime can be expensive, have been growing my asset base and income through investing in different areas. However, far better to 'sweat' my assets than to sweat myself.

There was a short 6 month period of contract work which I took on 2 years after retiring, but that merely served to reinforce that my original decision to depart the rat race had been a correct one.

Overall a easy decision for me once I realised I only worked to live rather than live to work.

Cus

https://forums.moneysavingexpert.com/discussion/6678615/how-did-you-feel-when-you-committed-to-retirement

I retired at age 50, and I also expected to somehow feel the difference straight away and was a little perturbed when it all felt a bit flat and a little 'now what'. I realised over a couple of years since then that for me it was a slow process of adapting to retirement, and the good feelings crept up on me slowly. I also realised that I didn't have to have it all sorted in my head straight away, I have got the rest of my life to work it all out..

horsewithnoname

I can’t wait. 568 more days at work🤞😎

kempiejon

https://forums.moneysavingexpert.com/discussion/comment/82090802#Comment_82090802

I pay myself each year in April from the SIPP a lump sum, I hold in a headre account and pay monthly. I also do a spot of tax planning take any capital gains to limits. I then try not to think about investing or saving that only is for spending. I can always top up from cash and I get a flo of dividends from ISAs throughout the year.

But you're right changing mind set from deferred gratification as an accumulator to indulgent de-accumulator is a wrench. I am currently thinking about a new toy and distraction.

cfw1994

How did I feel?
Very excited 😎

I viewed (& still do, 5 years in) retirement as a return to the halcyon days of my youth, with even fewer responsibilities, & a bit more money 😜

Some here will be bored of me mentioning, but my first adventure was to cycle from Lands End to John O’Groats. I’d never done more an a 3 day pedal adventure, & that with a pal, & I managed to average 55 miles per day, and even do some camping in the Leicester to Edinburgh leg 💪

I was almost embarrassed how fast I forgot about all the work, despite having very much enjoyed my career (in data technology) 🫣

You do need to work on your post-work network. I have always been pretty gregarious and busy, so that hasn’t been an issue, but I do know others who have much smaller groups of friends.

Stay busy, stay curious 🙏
Pretty soon you will be like most here, wondering how you had time to work 🤣

NormalNorman

https://forums.moneysavingexpert.com/discussion/comment/82090802#Comment_82090802

On the flip side wife and I will no longer be saving £4000pm towards retirement. And with no NI, uni costs £££pm and wife’s commute it will be time to just breathe. Cheers

OldScientist

We'd been planning my retirement for about 18 months beforehand, but submitting my notice left me excited, nervous, relieved, happy, and sad all at the same time - maybe all those emotions cancel out!

MEM62

How did you feel when you first made that commitment to retire?

Very happy. I was not one of those who came to hate what they were doing in the years running up to retirement but I was looking forward to it.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82090802#Comment_82090802

I always though this would be difficult, but have not found it too bad at all. In fact I am looser with the purse strings than I used to be- can't take it with you and all that. Also IHT on unused pensions is a motivator to spend, although I am still not totally mentally a spender, I am more relaxed about it than I used to be.

kempiejon

I've heard before that trying to keep one's assets below £1M and IHT is an easy motivator as one can see it as spending with 40% off. And not letting the treasury have it.