Early-retirement wannabe

Marine_life · 31 August 2015 at 12:54PM

Chickereeeee wrote: »

If you do retire early (and survive) there can be the nagging thought that, if you had worked 5 years longer, you would have an extra 5 years money (poss £200-500K) in your bank account....

C

Yes, its a nagging thought (although the numbers involved are much bigger) - but more along the lines of "if that money is available, don't i have the responsibility to take it? Possibly for the children? or maybe even just give away?

Marine_life · 31 August 2015 at 12:58PM

I'm having a bit of a wobble today.

We had a good discussion about things over the weekend and the prospect of jacking it all in once again reared its head. We're going house hunting next weekend (for an apartment in the City we are moving to) and that will I am sure crystallize what has so far been a plan into something more tangible.

cathybird · 31 August 2015 at 1:14PM

atush wrote: »

My father died at an early age, just 2 years older than I am now.

Doesn't mean I am going to follow him if we dont have the same risk factors.

Marine life doesn't sound too stressed to me?

hi atush, but stress has nothing to do with it - the two guys I knew who died both looked after themselves and seemed in good health, and were not especially stressed.

I won't necessarily die at 59 either (I hope) and Marine life may well live till he's 100 or beyond! But when you know people who died pre-retirement age, it brings home that that long, happy, healthy retirement we all look forward to may simply not happen. If you're in a position to make the jump, why wait? ... Time is precious.

That's my thought, anyway.

cathybird · 31 August 2015 at 1:16PM

Marine_life wrote: »

No, probably not the only alternatives but when I took my 10 week sabbatical last year, the first thing I wanted to do was grow a bread for the first time in my life (and I'll admit I was a little shocked that it was grey :eek:), so to me this is the big contrast. Come to think of it I have no idea why I shaved the beard off......maybe I could have a let a little bit of light into the darkness ;-)

Your beard sounds lovely!!

Penny_Bridge · 31 August 2015 at 3:01PM

A line from the sequel of the film, Best Marigold Hotel, I found very profound and true was "There is no present like the time".

I wish I could have the option to retire early, if it becomes a possibility I shall grab it with both hands.

Daniel54 · 31 August 2015 at 8:33PM

cathybird wrote: »

But when you know people who died pre-retirement age, it brings home that that long, happy, healthy retirement we all look forward to may simply not happen. If you're in a position to make the jump, why wait?

Sadly many if not most of us have known people who have died too young.But I'm not convinced that is a reason to retire as early as possible.

At the other end of the spectrum ,both my parents ( now just my mother) lived into their late 80's and their quality of life in older age was hugely improved by having the resources to stay in their home and afford live in care,which does not come cheaply.

Obviously I have no idea when I will die,but I've stayed working long enough to ensure that possible old age is covered ,although that might be at the cost of a few years of earlier retirement forgone.It something of a fallacy that we will need less money if we reach old age and possible infirmity - actually,quite the opposite.

kidmugsy · 31 August 2015 at 8:39PM

Daniel54 wrote: »

... having the resources to stay in their home and afford live-in care,which does not come cheaply.

... It something of a fallacy that we will need less money if we reach old age and possible infirmity - actually,quite the opposite.

Well said. It may be a particularly big deal for those of us whose children have fled the country, assessing its long-term prospects as grim. Thank you, Mr Blair.

Marine_life · 31 August 2015 at 10:20PM

So lets get this straight - you can't live your life as if you might die tomorrow!
I found this post quite interesting:

http://www.financialsamurai.com/the-dark-side-of-early-retirement-risks-dangers/

xylophone · 31 August 2015 at 11:32PM

If you have to work to live then you have no choice.

If you don't because you have sufficient money/ assets etc, then it comes down to whether working makes you happy and /or fulfilled.

If it does, then carry on as long as you wish.

If it doesn't, quit?

wotsthat · 1 September 2015 at 9:21AM

Marine_life wrote: »

Yes, its a nagging thought (although the numbers involved are much bigger) - but more along the lines of "if that money is available, don't i have the responsibility to take it? Possibly for the children? or maybe even just give away?

I love this thread. It's nearly 5 years since you started it and the list of reasons not to take early retirement gets ever longer.

I think it's an entirely valid question to ask whether you should delay retirement to earn a big chunk of money. You'll likely never spend the money though but it will provide some peace of mind as your buffer gets ever bigger and you'll have more to leave behind for other people to spend.

I honestly doubt your children are bothered but if it's important to you then keep on working.

Early-retirement wannabe

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