50 something man seeking to save to retire before 60!

crv1963 · 15 March 2019 at 2:53PM

MrAPJI wrote: »

I think that will turn out to be a good investment .

Is anyone else suffering from 'Brexit Burnout' lol. With the weather being so bad I've been spending too much time watching 'the proceedings' - lost for words

On a positive note, the roof on the old barn I'm renovating has now been replaced. It looks so much different and although my bank balance is considerably lower, I'm really glad it's done.

CRV, my sister-in-law invests in the Vanguard 60/40 Fund - seems a good choice

I've managed to not get time to see the news but have to admit to watching a bit before bed each morning!

Glad you roof is on MrAPJI. I've just about chosen my replacement shed, which I'm earning the money for this month with the overtime! Can't just have a "normal boring apex one!" as it will also be a prominent part of the garden, and double as a workshop as well as storage. So I'm torn between a barn style or log cabin style. Once I have a water tight shed I can then free the summerhouse to be a summerhouse, and the loft can be free of my tools and hedge trimmers.

Trying to future proof the house and garden, hard work this retirement planning when you start looking beyond the financial. Getting everything ready so there are no big expenses when you turn off the monthly income tap!

I'm thinking of starting putting a bit away into a SIPP for me rather than an ISA looking long term so maybe Vanguard 100, as I'm hoping we can leave it alone until old age!

crv1963 · 15 March 2019 at 2:56PM

gallygirl wrote: »

Not burnout, no. I am suffering from BTS - Brexit Tourette's Syndrome . Never sworn or yelled at the TV so much in my life .

I'm just of the view- get on with it! I don't think the best comedy writers could do a script like we've seen- they be accused of writing a farce!

crv1963 · 15 March 2019 at 3:07PM

ManofLeisure wrote: »

Hope you aren't working too hard CRV - remember- it's important to

rest too. That's something I had to learn .

I'm also a fan of the Vanguard Funds.

Bet Bugslett is on the countdown - can't be much longer now

I'm not afraid of a bit of hard work, I think a couple of months doing 60 hours over 5 days plus commute is okay anything longer and I'd grind myself down too much.

April I'm turning the extra hours down a notch, March payday earned in February does the bits in the house, plus pay sister back a big chunk I put on her interest free account for Mums washer, dryer and TV for her birthday. Then April payday earned this month is for myself for my shed.

I've decided that I don't mind one or two extra shifts to help out a month but marathon runs like this month and last are going to be the exception and only (like these) for specific items needed.

I also expect Bugslet to be working a few silly hours clearing the decks as she sails toward retirement and the next phase of life.

I didn't realise how many other around my age are doing as I am in my local teams- doing the unsocial hours for the pension and the extras to future proof as far as possible. One colleague is pouring everything into various forms of saving to get a nice campervan to drive off into the sunset with her partner.

bugslett · 18 March 2019 at 9:38AM

crv1963 wrote: »

I'm not afraid of a bit of hard work, I think a couple of months doing 60 hours over 5 days plus commute is okay anything longer and I'd grind myself down too much.

April I'm turning the extra hours down a notch, March payday earned in February does the bits in the house, plus pay sister back a big chunk I put on her interest free account for Mums washer, dryer and TV for her birthday. Then April payday earned this month is for myself for my shed.

I've decided that I don't mind one or two extra shifts to help out a month but marathon runs like this month and last are going to be the exception and only (like these) for specific items needed.

I also expect Bugslet to be working a few silly hours clearing the decks as she sails toward retirement and the next phase of life.

I didn't realise how many other around my age are doing as I am in my local teams- doing the unsocial hours for the pension and the extras to future proof as far as possible. One colleague is pouring everything into various forms of saving to get a nice campervan to drive off into the sunset with her partner.

Shed or man cave? I think 60 hours is definitely the max. I've knocked about 7 hours off my working week this year, and really felt the difference. Come April you will enjoy some less hours - and in time for the better weather - she said optimistically!

30 operational days left - :j. There will be a bit of a flurry in April regarding the hand over, and probably the first two weeks of May, then it moves to a gradual wind down. Lease on the warehouse finishes in June so 99% of things will be done then with just some end of year stuff to attend to if I can get off my sun lounger for long enough;)

Campervans have really come along from the basics of the 70s, there are some gorgeous conversions out there. I keep looking at our youngest van and thinking, shall I keep it.......

crv1963 · 18 March 2019 at 11:24AM

bugslett wrote: »

Shed or man cave? I think 60 hours is definitely the max. I've knocked about 7 hours off my working week this year, and really felt the difference. Come April you will enjoy some less hours - and in time for the better weather - she said optimistically!

30 operational days left - :j. There will be a bit of a flurry in April regarding the hand over, and probably the first two weeks of May, then it moves to a gradual wind down. Lease on the warehouse finishes in June so 99% of things will be done then with just some end of year stuff to attend to if I can get off my sun lounger for long enough;)

Campervans have really come along from the basics of the 70s, there are some gorgeous conversions out there. I keep looking at our youngest van and thinking, shall I keep it.......

Shed will be a bit of both I'm thinking that maybe while Mrs CRV is visiting her Dad in tenerife I can put up a lean to shed attached to my new shed and store the lawnmower and garden tools in that maybe a 6 x 4. Make a bit of room in my new one for a chair, small table for my wine glass and a radio!

I know what you mean by the reduced hours, when I moved from M-F to 3 shifts a week I was a bit lost with the extra two days a week off, I think a good compromise will be do 3 extra shifts a month, so 4 days a week. That way 1 extra day paid for Mrs CRV SIPP on top of the planned £200, 1 for a SIPP or ISA for me (the tax refund is really a no brainer) and 1 for spending on the garden/ hobbies/ presents. With the hopeful better weather.

30 days, which will fly by- enjoy the ending as much as the building up of the business, try and take a view that you've supported/ employed staff that you've given to skills/ developed so that they can make a go of wherever they work.

In my time I've helped others move up, down (yes some do feel they've taken a job too far, or the service has changed around them) and sideways- I just had frank discussions on what they actually wanted to get out of work, not to kill themselves selflessly but to have personal as well as career goals.

Sometimes for your own sanity you need to apply this to yourself. So look back with a sense of pride not sadness.

Some of the campervans are brilliant, some are designed to part fools from their money! 95k for one! Go on keep the youngest, get it converted- Elddis near us does them I think, not sure if they convert someones own van.............doesn't hurt to ask? I'm sure other do too, I haven't looked into it, Dad did his own conversion, bought a 2 year old minibus to do it, but he had the metalwork and woodwork skills, I'm more a planner than a doer when it comes to things like that sadly.

Clowance · 19 March 2019 at 8:53AM

Apropos of nothing - my grandfather retired at 60 and lived with grandma until he was 90, 30 years. he kept himself busy in their large garden, and had a little man cave in the (asbestos) garage with a table, chair, radio, newspapers. In decent weather he wasn't encouraged to come in the house until elevenses! (he died in 1975). It worked for them!
My uncle has been retired for 38 years - he left at 59.
So if you are lucky you will have a long long retirement, but the key is definitely keeping busy.
I am stuck at work until the state pension kicks in, as I have not been a high earner since the kids were born.

crv1963 · 19 March 2019 at 10:35AM

Clowance wrote: »

Apropos of nothing - my grandfather retired at 60 and lived with grandma until he was 90, 30 years. he kept himself busy in their large garden, and had a little man cave in the (asbestos) garage with a table, chair, radio, newspapers. In decent weather he wasn't encouraged to come in the house until elevenses! (he died in 1975). It worked for them!
My uncle has been retired for 38 years - he left at 59.
So if you are lucky you will have a long long retirement, but the key is definitely keeping busy.
I am stuck at work until the state pension kicks in, as I have not been a high earner since the kids were born.

I agree the key is business, not always money. Some people I meet are enjoying life with allotments, walks, time spent doing hobbies in winter as well as summer. Some on SP only, I also think the key is being able to appreciate what you have.

Dad worked until 71, simply didn't want to retire, used to say to me "there's only so much gardening and decorating you can do". Since he died my Mum has spent so much time gardening- she always was the main gardener- as she no longer has someone saying "I think we'll call it a day now, or do you want your lunch?".

High earning is not always the key to earlier retirement in my view, plenty of high earners also are high spenders and find that they have to work to service the lifestyle, credit cards, keeping up with the latest car/ phone/ tv.

I accept I earn more than the average wage, but I also think I'm not a high earner as I haven't hit the HRT bracket since 2011, so don't be discouraged by earnings. A couple of percent extra put away could make a difference to either going a little earlier or having a lifetime holiday/ a little more income. I'd encourage anyone to try to put even £10 pw away, just to build that "happy fund".

crv1963 · 4 April 2019 at 4:13PM

Hi

I'm on my day off, so here is my March payday update!

Spending- Have once again kept a tight lid- although it is early in the month! We spent the February overtime money as planned- New shower in style with the house, new Dishwasher gone for a German brand as the last two have only lasted just over two years each, new Fridge and new Freezer. So hopefully no more appliances for a few years as now everything has been replaced - not the most glamorous preparation for retirement!

Sent youngest a tenner in a card for his birthday as his present is waiting here for him.

Saving- No additional savings yet, but we'll see how the month pans out hopefully I'll push a bit into the rainy day fund. On the other hand I do have Mrs CRV birthday later in the month too........

Sorting- Bought some tools to use taking the old shed down next month, cleared some more boxes, so on target to have an empty shed to take down. Chose the replacement shed, has to fit two aims- have workshop space for me and look decent from the kitchen window for Mrs CRV! Mrs CRV has agreed a windowless lean to shed attached makes sense for the garden tools, so I won't trip over the lawn mower and garden rake!

Other News- Fed up with all the overtime and aching back from all the gardening I did cancel some overtime this week, so back hooked to the Brexit chaos! I do think the EU is the new Hotel California!

Youngest passed his driving test, new driver insurance for a 06 plate Clio 1.5 diesel is costing him £140 pm! My first car cost me £180 for a year!

Have done quite a bit in the garden, although snow has stopped play, cleared one of the ponds of overgrown Iris, have to wait for it to de-ice then I'll put myself in the pond and clear more overgrown plants and we'll start the filter- another 3-4 days work.

Simple Pleasure- Several, helped a couple of colleagues start planning their great escape by looking outside the work pension scheme savings and them realising you don't have to work to SPA even if you're in your 30s now.

Went round a few garden centres and got some nice bargains to add a bit of spring colour.

Have a great day!

CRV

Predicting rain doesn't count, building Arcs does- Warren Buffett

ManofLeisure_2 · 6 April 2019 at 2:42PM

CRV, well done to your youngest son:). Goodness, £140 pm is really steep - feel sorry for him.

As to this Brexit fiasco... Lost for words to be honest. However, I would be interested to know the exact cost to date - both to the UK and the EU :eek:. Goodness knows where it will all end!

crv1963 · 6 April 2019 at 5:46PM

£140 pm is also apparently significantly less than if he was a teenager. Affordability is a real problem for younger drivers, but also maybe being self funded it may make him fall into the careful driver camp? Not that he is normally reckless or foolish.

Certainly makes him appreciate the effort to be on the road- the purchase price of the car is relatively minor in the context of staying on the road.

Preparations for retirement proceeding- drawing up basic plans for the electrics for the shed and garden, just have to price them up, get quotes for a suitably qualified electrician to complete the work and identify where/ when I can earn the money to pay for it all, don't want to raid savings even if it is one off capital costs!

50 something man seeking to save to retire before 60!

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