First year of retirement

eastcorkram

https://forums.moneysavingexpert.com/discussion/comment/82126138#Comment_82126138

It's fine having a structure if you need or want one. I'm about 18 months into retirement, and the last thing I want is structure.

MallyGirl

https://forums.moneysavingexpert.com/discussion/comment/82126138#Comment_82126138

My structure at the moment comes from exercise classes - I have something booked every weekday and try to keep the weekend clear as OH is still working. If something more interesting/important comes up I just cancel the class. There's a flurry of housework every time we get negative energy rates on our Agile tariff.

Vespaboy

2 years into retirement now and like #mallygirl the exercise classes are great. I have had to cut a few as was doing over 15 a week 😳so was rather tired🤣

About to have an adventure for the next 3 weeks. ,we are taking the campervan to France and Northern Spain with the dog who has been learning Spanish ( she is a Lab so quite bright) so should be fun.

Sunday evenings are bliss and it is only when you have decompressed from work you realise how stressed you were

mrklaw

plan a big holiday for day 2, or avoid any big plans for a few months assuming you may be chasing pension providers and HMRC as you get into the groove at the start?

katejo

https://forums.moneysavingexpert.com/discussion/comment/82126632#Comment_82126632

I booked a 1 week trip for 1 week into the 1st retirement month. It was like a bridge between work life and retirement. My pension was already sorted before that.

saucer

Two weeks left for me.

daveyjp

Two weeks in and all has been good. Doing what we want when we want and not feeling pressured to do things immediately. Most things can wait until tomorrow!

Plenty of personal admin, sorting out money and investments, Just had my last pay slip which doesn't include back pay from April so another admin job to do.

Lots of little jobs done around the house and garden. Fixed a faulty bathroom pull switch, wqshing machine had a small pool of water, it then started with a noise, which sounded like an electrical short circuit 'fizz', but only on very fast spin. Had a good look inside for loose wires and water, no sign of anything. Removed the impeller cover on front of the machine and found a small stone. Removed it, cleaned the filter and no more noise or leaks.

Rugby season is back and as I'm now available I'm in the "tidy and small jobs team" on a Monday. 7/8 of us, all retired, me being the youngest by far. At least after 3 /4 hours we can see what we have achieved.

However all that stops for the next 2.5 weeks as its time for the summer holiday we didn't have over the summer. A grand tour of Scotland visiting places we have never been and places we have enjoyed visiting over the years.

I also took advantage of Northern Rail £2 ticket sale. Day trips to Chester and Hull sorted for October. £8 spent on tickets for two of us.

Wobble101

Great thread! I am exactly one month ahead of @glass_half_full - formally retired end July, but with that month having been spent on annual leave. I solved the "what do I do the next day" problem by going on holiday literally the day after, which was quite stressful in the run up but absolutely lovely as an introduction to retired life. 10 weeks later it is only just sinking in that I have actually retired.

I've kept a few 'work like' activities going in the form of committee/trustee type commitments, which I'll keep to see if I miss that part of my life too much (and eventually drop if I don't). Only a meeting or two every few months, plus preparation, so nothing too arduous. I've started doing nature conservation at a local reserve twice a month. Otherwise the main aim for now is more exercise, more art (we both really enjoy going to galleries and binging various art podcasts), a 'doing' art class to start this autumn, and some trips away. I've rediscovered an old hobby which at the moment could eat up as much time as I care to give it. I've got various 'home' activities needing doing, including some building work, but that seems too much hard work to think about at the moment!

I'm really enjoying it; I don't miss much about work apart from the social contact.

In terms of the nuts and bolts, I'm 60 & my husband is 61. I have been the chief income earner and have 3 DB pensions; my husband has a small SIPP. I'm taking one DB now and two when I turn 61. In total they will provide us with c £52 pa; we'll make up the difference between that and what we need with savings and investments. We're using a three rung cash ladder approach to help with this - 4 years cash (too much, I know - will reduce to three years from next year); years 5-8 'balanced' investments; year 9 onwards more adventurous.

I realise we're in a very privileged position because of my DB pensions; most of my friends are nowhere near being able to retire or will require major lifestyle changes to facilitate it. That can feel quite awkward so I tone down the 'retirement is so great' some of the time. My husband has significant health challenges, which prompted this in the first place, so it isn't all good.

katejo

https://forums.moneysavingexpert.com/discussion/comment/82132179#Comment_82132179

I am really pleased that my pension is a DB one. I also added AVC's as a top up.

louby40

I retired from teaching last year aged 56 after 30 years in education. I had cancer in 2021 (now fully recovered) and I was just sick of the total crap that came with education so in 2024 we decided to downsize and get rid of the mortgage in order for me to retire. I opened a SIPP and started putting some money in there.

We moved in August 2024 and had a bit of equity left so re-did the kitchen and garden and then put the rest in an ISA. I retired last year with a £45k lump sum which was put into ISA's and SIPP and is increasing nicely. I watched the Donegans Rebel Finance School over on Youtube which gave me the confidence to move some money into a S & S ISA.

I do a bit of supply, only very casually 2 days a week. It boosts my pension and gives me a bit of focus and has meant I haven't had to dip into the lump sum at all yet. I worked 45 days last year from Oct to July. I'll probably carry on until I'm 60 then stop completely. It's the best bits of teaching without the toxic rubbish!

During my (semi) retirement I've loved doing my own thing. I never work on a Monday or Friday. We have holidayed out of school holidays which has been so much cheaper. I swim twice a week at my local gym, I'm part of a Nordic walking group that meet regularly, I also meet with friends for lunch or coffee too. I'm an avid reader and being able to lie in bed on a Monday morning and read is pure heaven.

My OH is still working (self employed) as he isn't as lucky as me with his pension choices sadly. We have a big trip planned in November where we are exploring Thailand and Malaysia for a month - we are so excited! We also have trips already booked for next year too.

The freedom to do what I want is amazing. My pension isn't large but so far it's working out well.

Enjoy your new found freedom.