what do you do when you have cleared all debts?

seven-day-weekend

count_rostov wrote: »

I don't usually come over to this board (see signature for priorities) but occasionally browse all you MFBs to see what I can one day become. I find this thread amazing - I can't imagine ever retiring! What would you do all day? After you've read the paper cover to cover, planned your lunch and dinner and shaved your lawn, surely you're just killing time until you can have your first drink?

Here in rural Spain we are on 'manana' time and it can take us all morning to post a letter.

By the time we have got up, gone to our little post office, got a stamp, wandered down to the post box, having met several Spanish neighbours on the way who've been to the mobile fish man or our little bank or the Doctor and having to speak to them about what they've done/bought/spent, it can take an hour! And then of course you have to go to Amador's bar for a coffeee before you go home....

We sometimes don't know how we ever found time to go to work.

macca64

With regards to the pension fund/BTL comments earlier.

If a pension fund doesn't appeal to you, due to you not being able to access the money until you are 55, then consider a stocks and shares ISA. You can invest in exactly the same funds as a pension fund, and you can access your funds whenever you like.

amcluesent

Debt free at 44, salary is £60K ish. My plan is "500K by 50", which I reckon is sufficient assets (excluding the house!) drop out the rat race.

Catbells

count_rostov wrote: »

More and more people retire to my village, usually early retirement, and they all look so bored! The papers arrive at 10.20 and at 10.30 I see them all trotting down to the shop (my office is in the front room). It's the highlight of their day. The most exciting point of their week is when the mobile bank comes on a Friday. They all line up to use it, why I have no idea, as the Scottish Government put in subsidised broadband for everyone so they can bank online, and they don't run businesses where they would need to bank cash. I mean, these people are in their 50s - perfectly able to still work! They don't really know anyone, they have no relations here, their children didn't grow up here and never visit. And they never last more than 10 years here. At the end of the ten years they look so much older than they really are, I can only imagine from a combination of not doing that much and drinking a little more than they should.
That's why I can't imagine retiring - I really like the various work I do and I hope I'll be more creative and enterprising in my 80s. My grandfather is a GP in his 80s and still has some private patients who are even more antiquated than him!

am 55 and have brought up 3 children on my own. I work part time and have a large house in London which I'm about to sell and release my pension. I will continue to work. I am writing a novel, grow my own vegetables and play 6 hours of tennis a week and study. Being retired will give me more time to do these things and maybe more walking abroad. Retirement is a bit scary nevertheless but also challenging . Your description of the village you live in has helped me in my decision NOT to move to a village for retirement. Activity has got to be the only way and interest in things around you and people. Many people think that getting away to villages in the UK, south of France, Spain etc will hold the key but I suspect it doesn't always bring the saitsfaction it is supposed to.

You are lucky to find your work enjoyable. I think many people don't. Good luck!

want2bmortgage3

well I suppose what's stopping me is not having a guaranteed income, and with a mortgage that's a problem!
The problem is I have various interests I need to explore further. I find a lot of things I will explore but have no interest in taking it further.
It's whether you are lucky enough to be able to do something you love and make money from it.
Otherwise a job seems to be a means to an end. Giving up 1/3 of your day to do something boring but contributing to society and be paid for it. then use that money to live and maybe have a little spare for hobbies.
I do feel like somebody who can take responsibility and make decisions, like I want to use my mind and not just be a manual worker. Sometimes wish I'd got a degree and could go straight into a higher paid job, still possible I guess.
I liked your description of the village, sounds pretty sad really, some of those people obviously don't have the motivation to do anything and are wasting their days away.

kipperman

I was lucky, and at 43 sold my business but retained the property, with the proceeds allowing me to pay off all outstanding debts as well as providing a significant rental income. The first year was fantastic, and I happily pottered around finishing off our extension and the garden. However, I soon realised that there had to be far more to life than that, and missed the "need" to go out and do something useful. Result is that I am now 3 weeks or so from qualifying as a teacher. Quite possibly madness, but for me at any rate, there has to be a purpose to getting up in the morning.

Optimisticpair

seven-day-weekend wrote: »

Here in rural Spain we are on 'manana' time and it can take us all morning to post a letter.

By the time we have got up, gone to our little post office, got a stamp, wandered down to the post box, having met several Spanish neighbours on the way who've been to the mobile fish man or our little bank or the Doctor and having to speak to them about what they've done/bought/spent, it can take an hour! And then of course you have to go to Amador's bar for a coffeee before you go home....

We sometimes don't know how we ever found time to go to work.

Welsh neighbours love a good chat too. There are dozens of things we plan to do when we have time and money! Not sure we would move permanently to Spain without keeping a property here but it is a long way off to decide yet. I'm only 52.