Early-retirement wannabe
Comments
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I haven't felt intimidated, so much as feeling that if I take part, I'd be setting myself up as an Aunt Sally for no purpose. I don't need that in my life, there's enough going on.
I'm retiring in 10.5 weeks
and compared to an awful lot of posters on here, I have very little, in fact I'd be looking *upwards* at £10k a year. I do like what you've stressed about being happy and safe, and knowing that not much can derail you.
However, the unexpected (and ignorance of the territory, oh and a bit of Peter Pan syndrome too) has already derailed me. Long term chronic illness, caused by the stress of my work, and the fact I didn't know anything at all about creating investment income - that was Jane Austen territory to me (as in "Mr Darcy has £10,000 a year").
I have to retire now, because frankly my health is permanently at risk if I stay. It's 4.5 years till I can get any pension. If I run out of money at any stage, I can live in a van, rent a studio flat in a cheap part of Spain, or maybe take in trainee aircrew, who rent for 3 months at a time at my "local" airport before flying off to work. Or sell the house and downsize to a flat.
There are other plans, but I'll leave it there for now, and see what the response is.
I understand perfectly why you feel about posting in order to simply become someone else's Aunt Sally.
Can I also just say you have my genuine sympathies with respect to your current health and financial outlook, and you of all people will know that any advice proffered, however well intentioned will always sound patronising, so I won't other than to wish you well and good luck.
Your post did remind me of one thing. When I was in my early forties I found that the stress of realising that my future depended on others talking about me behind closed corporate doors, I decided to leave an extraordinarily well paid jub with great perqs, for a leap into the unknown and start a business. This wasn't to be rich, but simply to be in control of our lives, whether that turns out to be good or bad. To my surprise my wife encouraged me - she told me that my job was killing my spirit, and all I could promise her was that I would try my best. As an aside, I was told by almost everyone I spoke to that my "idea" wouldn't work and I'd fail.
There was a point at around two or three years into that adventure, when I realised that I could provide my wife with her first piece of reassurance. I told her that we were now at a financial point where if everything went wrong, we could afford a caravan for cash and we would be OK, although I'd have to find work. The moment I felt "safe" to that small degree, I felt enabled and confident to plough on and make a success of the business.
We were fortunate to be able to retire at 50 and I am fortunate. But in that time I have discovered I don't really need as much as I thought. As an example, a couple of weeks ago wagyu beef was on"special offer" something I'd always wanted to try. We did. I discovered I prefer cheap burgers. I also discovered I enjoyed vegetable stir fries and whereas I always thought of myself as a meat eater, I enjoy good sausages etc but I am a cheap eater.. I guess the point I'm making is that I am discovering that whilst I would never ever choose the be in your position, I know that I could if needed live frugally.
Anyway, I am droning on, but guess I hope things go well for you in 10.5 weeks and after, and that you are able to take each day as it is presented and don't let life beat you until it has. There are good things to be found in life that will make you happy if you are grimly determined. Good luck.
Jeff0 -
Thanks Jeff! Thats a lovely post, much appreciated. I'm pleased for you that your own risktaking paid off so well!
I took a risk similar to the one you describe, when I was in my mid 30s, and it worked well - but I had no concept at all of saving, no one in my family had ever had enough money to save at that stage, it took quite a few years before I upped my expectations of myself, unfortunately.
I don't want to live the life of a pauper, but I do want to live! Part of that is writing for profit, through several different ventures. I love writing, and retiring from my profession means I will hopefully recover my health, gradually, and also have time and energy to write more. And profit more
I could easily go down the "ooh, I don't have this ... or that ... and that person does" route. But the truth is a close friend only 18 months older than me died 3 weeks ago, and a close family member has just lost absolutely everything in a catastrophe of the first order. I'd like more, but I have enough, and I have a few ways to *get* more, including regaining my health :j which is what really matters to me.Save2023: the year I get to buy a car0 -
I cant believe they got planning permission lol
OK, I said "his garden", but they have bought the bungalow on a large plot next door and will demolish it as part of the process and combine the two plots. Big old plot too for a bungalow as would take 3x 5 bed detached but planning permission denied.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Goldiegirl wrote: »It concerns me that some people on low to average incomes don't feel comfortable in posting on this thread.
Me too, in a big way.
Those on lower incomes will find early retirement harder as state pension will be a larger percentage of their income replacement plans, but harder does not mean impossible.
But also bear in mind that many on larger incomes find early retirement hard as they spend income + 5% on a regular basis, hence the "£190kpa in London = pauper" threads.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
I quite like when people have differing opinions.
That's the best value out of these discussions - to have your assumptions challenged and not always affirmed.
The anonymity also helps up to a point - a bit like a confessional - (but there's the danger of trolling).
It's easy to get blinkered when embarking on a plan, especially one which is not mainstream. It's great to get feedback and constructive challenge along the way.0 -
The poster (wont use theiir name) who told us we were wrong to work a few years longer to live a little better. And that 9K should be more than enough.
9K is a little stingy for a pension provision for many.
Oh that post.
I took it a bit differently. I thought they were encouraging people not to be afraid of taking the final jump to retirement, and that it didn't matter if you didn't have so many new clothes or 'things'.
I'm not sure they were saying £9k was enough for everyone, rather that £9k was enough for them.
If a person had been a high earner in their working life, I don't think anybody would expect them to be able to retire on £9k pa. But if a person had been a low earner, then maybe £9k would be enough, especially if they felt happier being retired and not working.
My definition of stingy is different to yours. To me, it's people who've got a lot of money, but won't spend any of it!Early retired - 18th December 2014
If your dreams don't scare you, they're not big enough0 -
Who is Aunt Sally?
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I haven't felt intimidated, so much as feeling that if I take part, I'd be setting myself up as an Aunt Sally for no purpose. I don't need that in my life, there's enough going on.
I'm retiring in 10.5 weeks and compared to an awful lot of posters on here, I have very little, in fact I'd be looking *upwards* at £10k a year. I do like what you've stressed about being happy and safe, and knowing that not much can derail you.
However, the unexpected (and ignorance of the territory, oh and a bit of Peter Pan syndrome too) has already derailed me. Long term chronic illness, caused by the stress of my work, and the fact I didn't know anything at all about creating investment income - that was Jane Austen territory to me (as in "Mr Darcy has £10,000 a year").
I have to retire now, because frankly my health is permanently at risk if I stay. It's 4.5 years till I can get any pension. If I run out of money at any stage, I can live in a van, rent a studio flat in a cheap part of Spain, or maybe take in trainee aircrew, who rent for 3 months at a time at my "local" airport before flying off to work. Or sell the house and downsize to a flat.
There are other plans, but I'll leave it there for now, and see what the response is.
Health is a powerful reason to consider early retirement. It was a health issue that gave me the final push to stop work. The good news is, I haven't had an re-occurrence of my illness since I finished work, in fact I haven't felt this good in years !
I think it'd be terrible if a person had lots of money, but couldn't enjoy it due to poor health. That's why I like to encourage people who are in a financial position to retire, not to leave it too long before they stop work, as you never know what's around the corner.
As for us less wealthy types with chronic illnesses, I think it's worth making a few compromises with money to improve our health and have a better quality of lifeEarly retired - 18th December 2014
If your dreams don't scare you, they're not big enough0 -
edinburgher wrote: »Who is Aunt Sally?
It's an old fairground game - a model of an old woman you throw things at!Early retired - 18th December 2014
If your dreams don't scare you, they're not big enough0 -
edinburgher wrote: »Who is Aunt Sally?
Thanks for stepping in, GoldieGoldiegirl wrote: »It's an old fairground game - a model of an old woman you throw things at!Save2023: the year I get to buy a car0
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