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convince me this isnt a daft idea

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13

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  • Asl77c
    Asl77c Posts: 87 Forumite
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    +1 on the daft idea vote here
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
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    Completely daft idea.

    Have a look at what £275,000 can buy you in other areas of the country, if you aren't tied to a specific area you could be mortgage free easily.

    Also, I don't think its a particularly good idea to retire in your fifties. We are living longer, you've very likely got time equivalent to your whole working life so far still to live! You'd be better off trying to find less stressful work that you can enjoy, or at least not mind for a bit longer.
  • Davesnave
    Davesnave Posts: 34,741 Forumite
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    Red-Squirrel wrote: »

    Also, I don't think its a particularly good idea to retire in your fifties. We are living longer, you've very likely got time equivalent to your whole working life so far still to live! You'd be better off trying to find less stressful work that you can enjoy, or at least not mind for a bit longer.
    We're not all living longer though, and quality of life is possibly a factor for many to consider. It's no fun being half-dead and rich.

    Several of my colleagues didn't survive to draw their much-vaunted 'gold-plated, index linked pensions,' despite females generally living longer than than males.

    I agree that putting feet up isn't a great way forward, but there are lots of enjoyable things to do that raise the heart rate!
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
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    Davesnave wrote: »
    We're not all living longer though, and quality of life is possibly a factor for many to consider. It's no fun being half-dead and rich.

    Several of my colleagues didn't survive to draw their much-vaunted 'gold-plated, index linked pensions,' despite females generally living longer than than males.

    I agree that putting feet up isn't a great way forward, but there are lots of enjoyable things to do that raise the heart rate!

    I just can't imagine retiring at such an early age without having some sort of firm plan of how that time will be spent, its not really anything to do with money, its about having structure and some responsibilities still. If you have a passion you want to dedicate time to, fair enough, but if you're going to be trying to find things to fill the time, that's a nightmare and probably a factor in a quicker decline.

    There's a happy medium I suppose. I will probably have to work till I drop (I'm in my mid thirties) but some people of my grandparents generation have been retired for over 30 years and are likely to live another 10 and just seem to be killing time.
  • Arklight
    Arklight Posts: 3,173 Forumite
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    • You!!!8217;ll find it difficult to rent privately if you don!!!8217;t have a job as you won!!!8217;t pass the clearance checks
    • You can pay upfront for a year or a number of years but that gives you a lot of other problems
    • What are you going to live on?
    • Renting is horrible in the UK. You!!!8217;re just paying off some dodgy small investors mortgage for them
    • Don!!!8217;t do it

    Is that enough?

    If you want to move somewhere cheaper then look at a flat or a park home.
  • zagubov
    zagubov Posts: 17,894 Forumite
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    You're marvelling at the thought of living till your 70s. It hasn't worked like that for ages. Pop over to the livingto100 website and get a rough idea of the average life expectancy for someone with your characteristics, habits and lifestyle.

    Every year you live adds eleven weeks to your life expectancy. Card shops have stocks of Happy 100th Birthday cards, which they didn't when I was younger.

    So another vote for don't switch to private renting. Get another job, or downsize.
    There is no honour to be had in not knowing a thing that can be known - Danny Baker
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
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    zagubov wrote: »
    You're marvelling at the thought of living till your 70s. It hasn't worked like that for ages. Pop over to the livingto100 website and get a rough idea of the average life expectancy for someone with your characteristics, habits and lifestyle.

    Ooh I like that site it says I'll live to 97!
  • CathA
    CathA Posts: 1,207 Forumite
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    Red-Squirrel wrote: »
    Ooh I like that site it says I'll live to 97!

    I tried it, filled out all the millions of questions, site wasn't working so no answer for me :(

    I'm going for 97 too!! x
  • parkrunner
    parkrunner Posts: 2,610 Forumite
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    parking_question_chap wrote: »
    And what if you live to 100?

    Of course its a daft idea.

    Housing benefit.
    It's nothing , not nothink.
  • parkrunner
    parkrunner Posts: 2,610 Forumite
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    Red-Squirrel wrote: »
    Ooh I like that site it says I'll live to 97!

    93 for me, don't believe that for one second!!
    It's nothing , not nothink.
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