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  • FIRST POST
    • Mrs Z
    • By Mrs Z 8th Jan 19, 1:03 PM
    • 903Posts
    • 991Thanks
    Mrs Z
    Plotting for an early retirement - anyone want to join me?
    • #1
    • 8th Jan 19, 1:03 PM
    Plotting for an early retirement - anyone want to join me? 8th Jan 19 at 1:03 PM
    Hello to all fellow forum members,
    I've been reading the Early Retirement Wannabe thread but as it is rather long, I thought I start a new one instead.
    So yes, like the title, I've been plotting an early retirement for some time. In fact it was all going swimmingly and my plan was to throw in the towel in 2023 (at the age of 55). But then the Brexit happened which has changed everything. In two months time, my work will be relocating to another EU country as a consequence.
    I've decided to stay on the job for the time being, just 1 more year as the relocation package is rather generous and it's unlikely that I'd found another job in the UK with corresponding level of salary/benefits etc. This could mean that the early retirement might well become a reality in 2020. That is scary!
    If that were to be - there will be 11 years gap before I start getting the work pension from the age of 63 and my plan was based on 8 years. There are options of course to get around this; to get a part-time job, maybe start some kind of business myself, etc but let's see what happens!
    Anyways, that's my introduction, more to follow as the journey progresses. In the meantime - please join the ride if you are thinking/dreaming/planning of early retirement or have already retired and can contribute with any tips/experience etc.
    It is going to be tough to stand it out....even til 2020!


    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by MSE Tine; 15-01-2019 at 11:09 AM.
Page 19
    • JoeCrystal
    • By JoeCrystal 14th Aug 19, 10:36 AM
    • 1,822 Posts
    • 1,283 Thanks
    JoeCrystal
    My current plan is not to have to worry about it at all, but that might mean working a little longer.
    Originally posted by lisyloo
    There is a possible halfway choice. Since every permanent job I did in the past was starting as a temporary casual. I always thought that to top up my income if I retire was to find a casual job during Xmas time, plenty around like Royal Mail or in Manufacturing sectors. Since it is a temporary job, there is no surprise once they let you go at the end of the contract, although it is hard to avoid disappointment. So that is my plan in order to work sometime. The thought of retirement with no work terrifies me actually.
    • lisyloo
    • By lisyloo 14th Aug 19, 10:53 AM
    • 25,311 Posts
    • 13,532 Thanks
    lisyloo
    Well it’s an idea, but I’d still rather do my job for 3 times the pay (and more importantly 1/3rd time) that pick boxes at Argos.
    I thought the point was to do things you love like maybe walking dogs.

    There are loads of things on offer if you don’t want to be paid but you are more in control of your hours and stopping when you want. Examples are

    Dog walking (if you like dogs of course)
    Some kind of volunteer charity work (I fancy helping old soldiers claim their benefits).
    Walking horses for the disabled
    Community project e.g. building carnival floats
    Soup kitchen for the homeless.
    Drive old people or disabled people around.
    Become a befriended e.g. just read to someone in a nursing home.

    Plenty of things that would give deep meaning, help people, be enjoyable and possibly add some physical activity without the drudgery of the daily grind.
    • MallyGirl
    • By MallyGirl 14th Aug 19, 11:43 AM
    • 3,909 Posts
    • 9,356 Thanks
    MallyGirl
    I have qualifications in horticulture and garden design so I am hoping that I might find some summer work related to that if wanted/needed. I have no interest in digging people's gardens for peanut rates!
    I have certainly seen local part time contracts advertised here that could use my skills (but not afford my usual rates) - if it was a charity or good cause I would be up for that sort of thing.
    • bugslett
    • By bugslett 14th Aug 19, 4:59 PM
    • 348 Posts
    • 1,300 Thanks
    bugslett
    Great. Enjoy your holidays and retirement!


    I changed jobs recently and although I knew I was going to a better job I struggled with the emotional side of parting ties with people I'd worked with for years.
    When you think about it many of us spend far more time with colleagues than we do with anyone else.
    Originally posted by Anonymous101
    I'm the odd one out (again), not only did I not work in IT and frankly have no idea what GazHol and nigelbb were talking about, I havent really missed anyone. Apart from my financial manager, I only saw the rest of my staff very I frequently and usually only for 10 minutes when I did. There are a couple of customers that I had good conversations with, but other than that it's not been a backward glance.

    There is a possible halfway choice. Since every permanent job I did in the past was starting as a temporary casual. I always thought that to top up my income if I retire was to find a casual job during Xmas time, plenty around like Royal Mail or in Manufacturing sectors. Since it is a temporary job, there is no surprise once they let you go at the end of the contract, although it is hard to avoid disappointment. So that is my plan in order to work sometime. The thought of retirement with no work terrifies me actually.
    Originally posted by JoeCrystal
    I cant say dont worry because I dont know you, but I'm 7 weeks into retirement and it feels like i left work 7 years ago. Theres stuff i wanted to do in September which I'm already putting back to October. I'd say the first two weeks were discombobulating be cause it felt like an at home holiday, but I knew I wasnt returning to work.

    I have ended up with a big project earlier than I anticipated, but I've been looking at narrowboats for 35 years, so when I saw one that I thought was the one, I didnt waste time!
    Yes I'm bugslet, I lost my original log in details and old e-mail address.
    • barnstar2077
    • By barnstar2077 14th Aug 19, 6:18 PM
    • 189 Posts
    • 328 Thanks
    barnstar2077
    I'm the odd one out (again), not only did I not work in IT and frankly have no idea what GazHol and nigelbb were talking about, I havent really missed anyone. Apart from my financial manager, I only saw the rest of my staff very I frequently and usually only for 10 minutes when I did. There are a couple of customers that I had good conversations with, but other than that it's not been a backward glance.



    I cant say dont worry because I dont know you, but I'm 7 weeks into retirement and it feels like i left work 7 years ago. Theres stuff i wanted to do in September which I'm already putting back to October. I'd say the first two weeks were discombobulating be cause it felt like an at home holiday, but I knew I wasnt returning to work.

    I have ended up with a big project earlier than I anticipated, but I've been looking at narrowboats for 35 years, so when I saw one that I thought was the one, I didnt waste time!
    Originally posted by bugslett
    I am so jealous. Let us know how you get on with the boat!
    If you don't have your own plan, then you're following someone else's!
    • bugslett
    • By bugslett 14th Aug 19, 7:13 PM
    • 348 Posts
    • 1,300 Thanks
    bugslett
    I am so jealous. Let us know how you get on with the boat!
    Originally posted by barnstar2077
    You'll soon be begging me not to bore you all to death!
    Yes I'm bugslet, I lost my original log in details and old e-mail address.
    • JohnnyJet
    • By JohnnyJet 14th Aug 19, 9:27 PM
    • 289 Posts
    • 452 Thanks
    JohnnyJet
    There is a possible halfway choice. Since every permanent job I did in the past was starting as a temporary casual. I always thought that to top up my income if I retire was to find a casual job during Xmas time, plenty around like Royal Mail or in Manufacturing sectors. Since it is a temporary job, there is no surprise once they let you go at the end of the contract, although it is hard to avoid disappointment. So that is my plan in order to work sometime. The thought of retirement with no work terrifies me actually.
    Originally posted by JoeCrystal
    I've never really considered temporary work, I like the sound of that. Without the pressure of having to find a job it may actually be quite exciting searching for random positions and only for a few months a year. I have been planning for 55 and also considered going part time a few years earlier, but from my calculations this would mean having to work for at least another 5 years before I could fully retire. I'm In agreement with Lisyloo and would rather work an extra 2 years full time than have to work at least 5 years part time.
    Last edited by JohnnyJet; 14-08-2019 at 9:51 PM.
    • JoeEngland
    • By JoeEngland 15th Aug 19, 5:22 PM
    • 338 Posts
    • 740 Thanks
    JoeEngland
    Well itís an idea, but Iíd still rather do my job for 3 times the pay (and more importantly 1/3rd time) that pick boxes at Argos.
    I thought the point was to do things you love like maybe walking dogs.

    There are loads of things on offer if you donít want to be paid but you are more in control of your hours and stopping when you want. Examples are

    Dog walking (if you like dogs of course)
    Some kind of volunteer charity work (I fancy helping old soldiers claim their benefits).
    Walking horses for the disabled
    Community project e.g. building carnival floats
    Soup kitchen for the homeless.
    Drive old people or disabled people around.
    Become a befriended e.g. just read to someone in a nursing home.

    Plenty of things that would give deep meaning, help people, be enjoyable and possibly add some physical activity without the drudgery of the daily grind.
    Originally posted by lisyloo
    You can get paid for dog walking.
    • MallyGirl
    • By MallyGirl 15th Aug 19, 6:47 PM
    • 3,909 Posts
    • 9,356 Thanks
    MallyGirl
    You can but you need things like liability insurance so it is probably not a great fit for part time work. On the other hand if you just fancy spending time in the outdoors with a dog, without the commitment of ownership, then it might be a way to go.
    • cfw1994
    • By cfw1994 15th Aug 19, 11:34 PM
    • 384 Posts
    • 338 Thanks
    cfw1994
    You can but you need things like liability insurance so it is probably not a great fit for part time work. On the other hand if you just fancy spending time in the outdoors with a dog, without the commitment of ownership, then it might be a way to go.
    Originally posted by MallyGirl
    My daughter has used https://www.borrowmydoggy.com to get her fix of doggos (family allergies mean weíve never had one)....
    Worked well for her and a pal!
    • Anonymous101
    • By Anonymous101 16th Aug 19, 6:35 AM
    • 1,397 Posts
    • 1,118 Thanks
    Anonymous101
    You can but you need things like liability insurance so it is probably not a great fit for part time work. On the other hand if you just fancy spending time in the outdoors with a dog, without the commitment of ownership, then it might be a way to go.
    Originally posted by MallyGirl


    I'm not sure about where you live but around here there are lots and lots of doggy daycare and dog walking businesses. I know several people that work for these in various roles.


    Perhaps something like that part-time would be suitable? It would provide relaxed employment and negate the need to worry about the insurance side of things since you'd be covered under the business.
    • Andyed201
    • By Andyed201 21st Aug 19, 4:52 PM
    • 19 Posts
    • 20 Thanks
    Andyed201
    There are loads of things on offer if you donít want to be paid but you are more in control of your hours and stopping when you want. Examples are

    Dog walking (if you like dogs of course)
    Some kind of volunteer charity work (I fancy helping old soldiers claim their benefits).
    Walking horses for the disabled
    Community project e.g. building carnival floats
    Soup kitchen for the homeless.
    Drive old people or disabled people around.
    Become a befriended e.g. just read to someone in a nursing home.
    Originally posted by lisyloo
    I guess it depends on what you mean by "doing something you love". What I mean is that I loved doing the job I did 10 years ago. Since then I have been promoted several times, so make more money, but don't do that job any longer. I do budgets, and appraisals and meetings and conferences and things like that. Its well paid, but dull and not the actual work that I really loved. So when I hit my number, I am going to go and get a job that pays a third of what I do at my level, but is back doing the work I really enjoyed.
    • JoeEngland
    • By JoeEngland 22nd Aug 19, 10:06 PM
    • 338 Posts
    • 740 Thanks
    JoeEngland
    I've had a funny day regarding finances. The bad news is having to shell out a few hundred quid on roof repairs now the first two quotes are in. The good news is that our house is worth a lot more than I thought it was probably worth, and substantially more than I'd pessimistically assumed for the financial plan. The valuation is kosher because it's based on what a similar size house on our street sold for recently. That news was a big relief as it will give us more contingency funds and some extra holiday money once we've moved.
    • MizzPenniless
    • By MizzPenniless 22nd Aug 19, 10:34 PM
    • 9 Posts
    • 11 Thanks
    MizzPenniless
    Hello, I'm late to this thread and just been reading through all the posts enviously. I would like to retire early (or hopefully before my state pension age which is 67, for now anyway), but don't have a big enough work pension so for me it's a pipe dream. I will be leaving my job at the end of August through a mutual agreement to leave scheme with a payout of 6 months salary, and am thinking of it as a trial run for early retirement / mid-life gap year.

    Hopefully I will get some ideas from these boards of how to live frugally so that I can at least go back to work part-time rather than full time when the money runs out.
    • missile
    • By missile 23rd Aug 19, 1:07 AM
    • 10,213 Posts
    • 5,244 Thanks
    missile
    ...I am going to go and get a job that pays a third of what I do at my level, but is back doing the work I really enjoyed.
    Originally posted by Andyed201
    That did not work for me. I found you can never go back there again.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home
    • crv1963
    • By crv1963 23rd Aug 19, 6:38 AM
    • 992 Posts
    • 2,255 Thanks
    crv1963
    That did not work for me. I found you can never go back there again.
    Originally posted by missile
    I agree that going back to the same place/ team would be difficult.

    People are to used to dealing with you at a different level. The solution for me was to move Teams/ location. So on a personal level, I am able to enjoy working at a lower grade doing a job that I like, as is a colleague of mine who has also worked in a different team at a much higher level.

    Some team members questioned why I would want to work at a lower pay grade especially those who are still fighting their way up the greasy pole! My stock answer is "because I can, I enjoy it and I wanted to, rather than had to."
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
    • missile
    • By missile 23rd Aug 19, 7:05 AM
    • 10,213 Posts
    • 5,244 Thanks
    missile
    I think you might find it is not that easy and I found it was not as enjoyable as I had expected it to be. It is a good plan and I wish you success.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home
    • crv1963
    • By crv1963 23rd Aug 19, 7:55 AM
    • 992 Posts
    • 2,255 Thanks
    crv1963
    I think you might find it is not that easy and I found it was not as enjoyable as I had expected it to be. It is a good plan and I wish you success.
    Originally posted by missile
    I think it depends on a multiple of factors- how much has the job/role you used to like changed/ moved on, your personal aspirations and views of the role, your team members reception along with their views of the role and management and of course the sector or profession you are working in.

    I moved back to a clinical role after working many years in a managerial role. Being back at the coal face certainly had its' challenges, but I've now been doing it 11 months and before that I had stepped down to a different clinical role in a different Team, so I had a clear idea of what I was getting into.

    Having said that I did say to Mrs CRV last night that I am intending to retire soon, I will probably give notice at my next supervision and put the written notice in early next year with a view to retiring and taking my pension in May 2020.......this follows reading other threads and in particular k6chris thread that has been moved to the discussion time board.

    I don't feel defined by my job and several long standing friends in my profession have retired and tell me that they are having a ball! The sun is shining here and I feel my counting down the hours to my night-shift tonight makes me wish I was able to do some of the jobs around the garden rather than going back to bed!
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
    • missile
    • By missile 23rd Aug 19, 8:37 AM
    • 10,213 Posts
    • 5,244 Thanks
    missile
    Sorry, I had not realised you had already made the move.

    I was in a similar situation. I retired early, did not need the money but missed the challenge. I was fortunate to find a less taxing job, which actually paid more working as a consultant.

    I have now retired once again.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home
    • crv1963
    • By crv1963 23rd Aug 19, 9:28 AM
    • 992 Posts
    • 2,255 Thanks
    crv1963
    Sorry, I had not realised you had already made the move.

    I was in a similar situation. I retired early, did not need the money but missed the challenge. I was fortunate to find a less taxing job, which actually paid more working as a consultant.

    I have now retired once again.
    Originally posted by missile
    I actually made the move for a number of reasons, I relocated to a different part of the country so left the organisation I was in a senior role in, then I worked 9-5 in a role for a few years and finally I had a period of sick leave and was advised to either go part time in that role or full time but with 12 hour days/ nights so having more time away from work in another team.

    I find that with my shift allowances I actually earn the same money as I did in my senior role 10 years ago, as public sector pay has been held down for so long. As the allowances are pensionable I find myself in the position of facing retirement with the same pension I would of got had I not made the move to a (for me) less stressful and time consuming role.

    No taking work home and doing 3-4 hours preparation for the following days meetings or finishing reports or complaints, do my shift, sometimes I have to stay on a little to finish paperwork but then it's goodbye see you next time!

    That said I'm finding 3 shifts a week is a bind and am going to give notice that I'm retiring end of May 2020. I expect that I'll then pick up some shifts every month for a couple of years, not because I have to but because I enjoy the work, once there it is busy/ challenging so flies by. Sort of ease myself into retirement and save the earnings above the pension into a SIPP.
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
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