Early-retirement wannabe

Options
1…322323325327328…607

Comments

  • atush
    atush Posts: 18,726 Forumite
    Name Dropper First Anniversary First Post
    Options
    and I tend to view my business as the savings.

    Yes, we have a bit of that- shares in my OH's privately held company. Only problem is, got no idea what it is worth lol.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Options
    chiefie wrote: »
    I suppose if you are risk averse the payoff of surety is greater than the opportunity of growth or loss - head or heart time ?

    Not if your mortgage is at 1%, no
  • Anonymous101
    Anonymous101 Posts: 1,869 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Options
    AnotherJoe wrote: »
    Not if your mortgage is at 1%, no

    I agree... if your mortgage is very low and you could easily pay it off if the worst did happen then whats the point in paying it off.

    Surely the confidence comes from getting a much better return than the bank are charging you for the borrowing? Even for someone right at the pole of risk free investments even cash would out perform the borrowing.
  • Marine_life
    Marine_life Posts: 1,059 Forumite
    Hung up my suit!
    Options
    OldMusicGuy wrote: »
    I am retiring February 2018 aged 60.....Now I have decided to go, every day at work is painful!

    What's making you wait? Do you need the final months to qualify for your pension?
    Money won't buy you happiness....but I have never been in a situation where more money made things worse!
  • ex-pat_scot
    ex-pat_scot Posts: 693 Forumite
    First Anniversary Photogenic First Post Name Dropper
    Options
    OldMusicGuy wrote: »
    Just to add to this thread, I am retiring February 2018 aged 60. Was driven to it by pressure of work and also deteriorating personal relationship with my wife (I was acting the corporate wonk at home). Also, our son has just finished Uni so that relieves some of the financial pressure. On the surface, our monthly post tax income will drop by about 70%. But we should be fine as we will be changing our lifestyle significantly (downsizing and living more sustainably).

    Main concern is that it can't come a day too soon. Now I have decided to go, every day at work is painful!


    Me too! Except that mine is May 2024. At the risk of wishing my life away, it can't come too soon.


    It might not be a binary "full stop" to work, but the prospect is tantalising. It's the old notion of control and Financial Independence: I might choose to continue, but that will be a positive choice rather than an expectation or necessity.
  • westv
    westv Posts: 6,084 Forumite
    Name Dropper First Post First Anniversary
    Options
    AnotherJoe wrote: »
    Not if your mortgage is at 1%, no

    How big a fee did you have to pay for that?!
  • bugslet
    bugslet Posts: 6,874 Forumite
    Options
    atush wrote: »
    Yes, we have a bit of that- shares in my OH's privately held company. Only problem is, got no idea what it is worth lol.

    There's enough in the directors current account for me to live comfortably for the next 15 years and if I just finished the company, there'd be something more, though not a clue what.
    westv wrote: »
    How big a fee did you have to pay for that?!

    Mines currently 1.39%, it's tracker mortgage. I swapped to what was then Ing, because there was no fee and I could overpay with no penalty. Did that about 18 months before the crash, no cleverness on my part, just very lucky.
  • OldMusicGuy
    OldMusicGuy Posts: 1,758 Forumite
    First Anniversary Name Dropper First Post
    edited 6 June 2017 at 10:06PM
    Options
    Marine_life wrote: »
    What's making you wait? Do you need the final months to qualify for your pension?
    No pension but a significant amount of restricted stock options vesting plus my annual bonus. Would fund around two years of retirement income. My son finished Uni this month so did not want to stop before that. I have considered going now but the lump sum I will get in February is making me hang on. But it is tough!
  • fatbeetle
    fatbeetle Posts: 567 Forumite
    First Anniversary First Post I've been Money Tipped!
    Options
    I'm planning on retiring in January 2018, at age 59.

    Our situation is a bit different to most I think.
    “If you trust in yourself, and believe in your dreams, and follow your star. . . you'll still get beaten by people who spent their time working hard and learning things and who weren't so lazy.”
  • Marine_life
    Marine_life Posts: 1,059 Forumite
    Hung up my suit!
    Options
    OldMusicGuy wrote: »
    No pension but a significant amount of restricted stock options vesting plus my annual bonus. Would fund around two years of retirement income. My son finished Uni this month so did not want to stop before that. I have considered going now but the lump sum I will get in February is making me hang on. But it is tough!

    It is difficult but I would focus on building in a few small milestones along the way (maybe a couple of holidays) to give you something positive to look forward to during the difficult months ahead. After so many years of working I am sure the next few months will pass in a flash.
    Money won't buy you happiness....but I have never been in a situation where more money made things worse!
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards