Early-retirement wannabe
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Hi, I don't post often but enjoy reading this thread.
My 60th birthday is in October and my last day working is a week on Thursday 😄😄😄😄, because of phased retirement I only have to work another 2 half days and 2 full days.
I am so excited. At the moment I am training colleagues to take over my workload and I do feel sad after doing this for 25 years.
On the Friday I have a retirement dinner and on the Saturday I'm away on a 25 day cruise to the Carribbean.
All of this has been made possible by the inspiration and motivation I have received from MSE. I paid off my mortgage 8 years early then saved this money to have rainy day savings.
Some of my pension lump sum will be used to top up my annual pension which will allow me not to work and enjoy my time until I receive my state pension at 66.
It's lovely to read of all you happily retired people especially in my circumstances.
Thank youDebt free - Mortgage free - Work free ( in that order
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plumduff55 wrote: »Hi, I don't post often but enjoy reading this thread.
My 60th birthday is in October and my last day working is a week on Thursday 😄😄😄😄, because of phased retirement I only have to work another 2 half days and 2 full days.
I am so excited. At the moment I am training colleagues to take over my workload and I do feel sad after doing this for 25 years.
On the Friday I have a retirement dinner and on the Saturday I'm away on a 25 day cruise to the Carribbean.
All of this has been made possible by the inspiration and motivation I have received from MSE. I paid off my mortgage 8 years early then saved this money to have rainy day savings.
Some of my pension lump sum will be used to top up my annual pension which will allow me not to work and enjoy my time until I receive my state pension at 66.
It's lovely to read of all you happily retired people especially in my circumstances.
Thank you
That's fantastic - well done
I would like to hear your thoughts on cruising - I've always been tempted but frankly the thought of being cooped up does scare me a little.
What is your plan for all the spare time you will have on your hands?Money won't buy you happiness....but I have never been in a situation where more money made things worse!0 -
ha ha Because you work so hard? ...
Actually I haven't worked this hard for a while. Its not necessarily the hard work that impacts but rather the recovery i.e. if I have a number of early starts in a week (e.g. 5:00 am) then work a full day i find I just don't recover like i used to.
In addition, I really need a minimum of seven hours sleep per night - any less and tiredness accumulates.
...moan moan moan Money won't buy you happiness....but I have never been in a situation where more money made things worse!0 -
Just come back from a week cruising the Rhine and it was brilliant! This was our first cruise and were well pleased but you wouldn't get me on a big boat ocean cruise - the more intimate river cruise suits us greatly.I would like to hear your thoughts on cruising - I've always been tempted but frankly the thought of being cooped up does scare me a little.
Not even retired yet!0 -
Goldie Girl does quite a few cruises too, she'll let you know what its like 2023: the year I get to buy a car0
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Seems to me there have been a lot of cruises planned/taken by you retirees (spending that pension pot lol).
Haven't been on one in 10 years, so maybe I should add that to our retirement plan
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Hi there. Recently joined site and have found this thread very interesting.
I'm single, no dependants. Paid off my modest mortgage (£50k) at age 36 (1993). In later years I was earning £50k+ per annum and started serious saving for retirement as soon as mortgage was cleared. This included additional years purchased in DB pension scheme plus AVC contributions. I expected to have to work until 60 (pension age under occupational pension) but got the opportunity of early severance in 2011 at age of 54. The terms were immediate payment of pension (index linked)with no actuarial reduction (included added years as purchased until then) and tax free lump sum of 3x annual pension. I took the opportunity and don't regret it. Currently have monthly net pension of £1800, which more than covers my modest living costs. Still saving £500 to £1000 per month (old habits die hard). I have savings and investments (cash ISAs, investment trusts, OEICs) of approx £500k which I haven't touched. Last year (2014) I had two 25 year endowments maturing (taken out originally to cover my mortgage) which paid out about £42k (money now invested). I still have my AVC fund with Scottish Widows which I have left to grow. Stands at about £110k. I haven't taken any advice on what to do with it, and I'm not very clued up on the recent pension changes but, as I understand it, I used to have to convert it to an annuity before age 75 years but now I have complete freedom (subject to income tax if I draw any out). Is that the position in a nutshell? If I die with funds still in the AVC, do the funds go to my beneficiaries ( which are charities)?
Thoroughly enjoying the freedom of retirement and have no money worries. Live at the same modest level as when I was working. Enjoying giving back to society in varies ways and feel fulfilled. I know that I am fortunate, very fortunate, but realise that good health is everything and that things could go wrong tomorrow in that direction. In the meantime. I am content and enjoying life.0 -
greenglide wrote: »Just come back from a week cruising the Rhine and it was brilliant! This was our first cruise and were well pleased but you wouldn't get me on a big boat ocean cruise - the more intimate river cruise suits us greatly.
Not even retired yet!
This summer we did an Alaska cruise with a small boat company called UN-cruise. No casino, no dancing girls, no dressing up, no towns. We did sea kayaking, bushwalking through the Alaska wilderness, skiff riding. Saw bears, humpbacks, orkas, sea lions, otters. Drank hot chocolate at the foot of glaciers. All magical, have never done a big boat cruise and never will but this was fab, only 75 passengers, great fun.0 -
Ah, cruising....my favourite subject!
The thing with cruising, there's something out there for nearly everyone, whatever your budget or where your interests lie.
The trick is finding the right one for you.
We've mainly done P&O, mid market, mid sized ships.
But we've also done a Danube river cruise and loved that too.
I've never felt cooped up on a ship, but, if that's a worry, try a cruise with lots of port days.
There's all sorts of destinations, whether you like cities, islands or scenery. It's not all dressing up either. These days there tends to be a couple of formal nights a week, the rest of the evenings are smart casual. Many lines are smart casual all the time in the evenings.
If I was a cruise consultant, I'd point Marine Life in the direction of something like Silversea or Regent. Proper six star luxury, smaller ships, smart casual evenings.Early retired - 18th December 2014
If your dreams don't scare you, they're not big enough0 -
Marine_life wrote: »That's fantastic - well done
I would like to hear your thoughts on cruising - I've always been tempted but frankly the thought of being cooped up does scare me a little.
What is your plan for all the spare time you will have on your hands?
Hi, I have cruised twice before and really enjoyed it. As this cruise crosses the Atlantic there are 8 sailing days going over, that would be a lot for a beginner. Best to try the Med or Norway where you would be off the ship most days.
I booked this cruise 18 months ago for my birthday, now life has changed course and it is a retirement cruise.
I expect to be as busy if not busier once I retire. I am passionate about crafting and will continue to spend most of my free time knitting, sewing and quilting. I have been asked to start a craft group at the local library and am looking forward to that.
My family say I should start a small business selling my things on Etsy but haven't decided about that. I don't know if I want the pressure of making to sell.
But if this past year has taught me anything its that you never know what's round the corner so never say never.Debt free - Mortgage free - Work free ( in that order )0
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