Early-retirement wannabe

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  • doingitanyway
    doingitanyway Posts: 8,755 Forumite
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    gadgetmind wrote: »
    TBH dropping to a four day week made a huge difference to me so consider part time rather than a dead stop.
    I second this. Now I am MF and very soon to be DF I am dropping to either 3 days tor 4 days a week ( if I get a job I am going for with a much higher salary)
    I am too young to stop working but I want to do have all of the things on OldMusicGuy's brilliant list whilst I am in good health.
    I think working p/t in a job I love has no downside :)
    I also completely agree on the time and work it takes to get fit and healthy enough to enjoy later life :)

    Oh and my working week will start on Tuesday :)
    If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them.

    Solicitor/survey savings 300/1700
    Emergency fund 0/1000
    Buffer fund 0/200
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    MF ? DF? Wazzat ?
  • tiddles
    tiddles Posts: 215 Forumite
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    Mortgage free and debt free, I think :)
    Decluttered 261/2024
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
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    tyronealan wrote: »
    Best reasons to retire early? I am 56 a teacher of 34 years and chance of redundancy and early retirement has come up.

    (i) If you then work part time for just a year you should be able to get your total years of National Insurance Contributions up to the desired 35.

    (ii) At last, the chance to take hols outside school holidays. Greater pleasure and much lower costs. In my case I'd be keen on at least a three week "winter sunshine break" in January. By the time you get back in February the days are at least discernibly lengthening again.

    (iii) In general, master of your own time. No need to commute (presumably), and able to use the roads or public transport outside rush hours.

    (iv) Opens the possibility, if you fancy it, of living abroad.
    Free the dunston one next time too.
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
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    tiddles wrote: »
    Mortgage free and debt free, I think :)

    It's surprising that this site's censorship software (American, I guess) didn't prohibit MF.
    Free the dunston one next time too.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    kidmugsy wrote: »
    (i) If you then work part time for just a year you should be able to get your total years of National Insurance Contributions up to the desired 35.

    (ii) At last, the chance to take hols outside school holidays. Greater pleasure and much lower costs. In my case I'd be keen on at least a three week "winter sunshine break" in January. By the time you get back in February the days are at least discernibly lengthening again.

    (iii) In general, master of your own time. No need to commute (presumably), and able to use the roads or public transport outside rush hours.

    (iv) Opens the possibility, if you fancy it, of living abroad.

    (V) the chance might not come again.
  • caldejud
    caldejud Posts: 22 Forumite
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    As has been suggested above you should really use a cash floe modelling tool so you can play about with your ''what if'' scenarios, particularly as you are considering retiring sooooo early!. We are really happy with the Retireeasy LifePlan cash flow tool and I think quite a few on this forum use it too.

    Great to think about retiring so early but make sure you have plenty of projects to keep your mind active - just as important as the finances!
  • Marine_life
    Marine_life Posts: 1,059 Forumite
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    Long time no post....time for an update

    and a fairly major one.

    Decided to go back to work.

    What can I say other than "its a funny old world".

    I enjoyed a couple of months on the side lines but a couple of things made me decide it just wasn't for me.

    1. Having told my employer I was retiring they took away all my previous (stressful) roles and I'm now able to negotiate the job I've always wanted.
    2. I found I really missed the responsibility and challenge - I've read all those trite saying like "nobody ever died wishing they'd spent more time in the office" but I'm fine with that.
    3. At 53 its hard to think about NEVER working again. Maybe I will only work another 2 years - maybe 5 - who knows. The key to financial independence is the freedom to choose.
    4. I certainly haven't allowed a long time to adapt to retirement but in all honesty ... I was a bit bored. I have hobbies and interests but really ....I felt the days just leaked away without 'closure' if that makes any sense at all?
    5. I don't want to be careful with money. Nobody could argue our retirement budget is anything other than generous but I want to take the topic of money completely off the table.

    I haven't locked in the new job yet but I've been playing the part for the last 6 weeks. Some box ticking and then I am back.

    Thoughts?
    Money won't buy you happiness....but I have never been in a situation where more money made things worse!
  • Penna
    Penna Posts: 4 Newbie
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    Marine_life wrote: »

    Thoughts?


    I did wonder..

    I genuinely feel sorry for you.
  • coyrls
    coyrls Posts: 2,432 Forumite
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    Marine_life wrote: »
    Thoughts?

    Change the thread title?
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