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  • FIRST POST
    • Marine_life
    • By Marine_life 5th Nov 10, 9:46 AM
    • 967Posts
    • 1,876Thanks
    Marine_life
    Early-retirement wannabe
    • #1
    • 5th Nov 10, 9:46 AM
    Early-retirement wannabe 5th Nov 10 at 9:46 AM
    I would like to create a topic (don't see it at the moment - other than the NUMBER thread).

    Who is aiming for early retirement (or who has retired early already)?
    When did you begin planning and what drove the decision?
    What is the strategy for getting there?
    How much of a relative decline in income are you prepared to take / did you take?
    What are your main concerns?
    For those already in early retirement - how is it progressing? What have been the good and bad surprises (financial and otherwise)?

    I will post my strategy but wanted to get some thoughts
Page 270
    • cfw1994
    • By cfw1994 12th Apr 19, 5:51 PM
    • 270 Posts
    • 183 Thanks
    cfw1994
    Business class is roughly 10 times the cost of economy. A sample of BC flights to NYC from London come in at roughly £3500, compared with £300 for economy. This was on Google, so perhaps there are taxes to add.
    I'm not making this up for an argument, I've flown fairly frequently for work and am painfully aware how much BC costs. I could never force myself to pay for BC out of my own pocket and I'm 6ft 2"
    Originally posted by vulcanrtb
    I'd agree with this.....the extra cost (at least 4-5x I would suggest) could pay for a couple of very relaxed days either end in quite some luxury!

    Not to say I wouldn't prefer business/first class, or course.

    ....but the only time I flew first (with points upgrade from SFO-LHR), I found all that luxury food & drink I felt obliged to partake of (from the lounge onwards!) meant that the nicely turned down flat bed I had was really only slept comfortably on for a couple of hours!

    Of course, if I were wealthy enough to seriously not care about the cost, I could imagine sleeping through.....but right now, I'd just feel I was missing out on the luxury

    Each to their own, of course!
    • MallyGirl
    • By MallyGirl 12th Apr 19, 6:02 PM
    • 3,596 Posts
    • 8,951 Thanks
    MallyGirl
    I've only flown 1st class once - to NY on air miles as we had a lot - it was very nice but I wouldn't pay for the extra over business if it was my money. I will be going business for long haul in the future- the last time I went to NZ in economy my ankles swelled up so much I couldn't get my shoes on. We were there for a wedding and my dress looked lovely but the trainers on my feet did not add to the look
    We went Business to Vancouver Island last year and it was only about half as much again over the basic fare (as we had a bit of flexibility on days).
    Business gives the lounge, fast boarding, decent food, a flat bed and duvet so I arrive in a fit state to enjoy the holiday from day 1. Worth it for me.
    I am not quite 6ft but I cannot sleep sitting up with my knees imprinted with the mesh pocket from the back of the seat in front.
    Not worth it for short haul though.
    • chucknorris
    • By chucknorris 12th Apr 19, 6:12 PM
    • 9,959 Posts
    • 14,805 Thanks
    chucknorris
    I've only flown 1st class once - to NY on air miles as we had a lot - it was very nice but I wouldn't pay for the extra over business if it was my money. I will be going business for long haul in the future- the last time I went to NZ in economy my ankles swelled up so much I couldn't get my shoes on. We were there for a wedding and my dress looked lovely but the trainers on my feet did not add to the look
    We went Business to Vancouver Island last year and it was only about half as much again over the basic fare (as we had a bit of flexibility on days).
    Business gives the lounge, fast boarding, decent food, a flat bed and duvet so I arrive in a fit state to enjoy the holiday from day 1. Worth it for me.
    I am not quite 6ft but I cannot sleep sitting up with my knees imprinted with the mesh pocket from the back of the seat in front.
    Not worth it for short haul though.
    Originally posted by MallyGirl
    I would never fly business or first class, unless it somehow allowed me to take my dog on board (in the cabin). The only time that I have ever travelled first class on the train was because there was more room for my dog (London to Newcastle and back again). Much to the amusement of my friends, they seemed surprised that it was all about my dog, but he is very important to me.
    Chuck Norris can kill two stones with one bird
    The only time Chuck Norris was wrong was when he thought he had made a mistake
    Chuck Norris puts the "laughter" in "manslaughter".
    I've started running again, after several injuries had forced me to stop
    • westv
    • By westv 12th Apr 19, 6:21 PM
    • 4,764 Posts
    • 2,328 Thanks
    westv
    Of course the most important thing is to book a minimum of 4 star hotel at your destination.
    • Terron
    • By Terron 12th Apr 19, 7:30 PM
    • 409 Posts
    • 406 Thanks
    Terron
    When I travel by train I often travel first class on longer journeys - providing I can get the weekend discount rate.


    I've never travelled business or first class on a plane (though I once travelled in a higher class). I do tend to go for premium economy for longer flights.
    • shinytop
    • By shinytop 12th Apr 19, 8:03 PM
    • 243 Posts
    • 261 Thanks
    shinytop
    What about people next to you?
    Originally posted by westv
    that would be Mrs S, who is even thinner than I am

    The armrest does a reasonable job of containing anyone bigger - or, even better, they've all paid the extra for business class.
    • atush
    • By atush 12th Apr 19, 9:10 PM
    • 17,565 Posts
    • 11,079 Thanks
    atush
    I've only flown 1st class once - to NY on air miles as we had a lot - it was very nice but I wouldn't pay for the extra over business if it was my money. I will be going business for long haul in the future- the last time I went to NZ in economy my ankles swelled up so much I couldn't get my shoes on. We were there for a wedding and my dress looked lovely but the trainers on my feet did not add to the look
    We went Business to Vancouver Island last year and it was only about half as much again over the basic fare (as we had a bit of flexibility on days).
    Business gives the lounge, fast boarding, decent food, a flat bed and duvet so I arrive in a fit state to enjoy the holiday from day 1. Worth it for me.
    I am not quite 6ft but I cannot sleep sitting up with my knees imprinted with the mesh pocket from the back of the seat in front.
    Not worth it for short haul though.
    Originally posted by MallyGirl
    I have started doing this, although i still fly P econ/WT+ sometimes too. I have given up flying econ long haul. I arrive in a state that means I cant drive the distance I need to.
    • tigerspill
    • By tigerspill 13th Apr 19, 8:29 AM
    • 391 Posts
    • 175 Thanks
    tigerspill
    Well this one resonates a bit with me, given that I've just turned 46 (like the OP when the thread started), and definitely want to retire at 55 - that's assuming I'm still allowed to access my pension at that age.

    But the reality is, what the hell am I going to do - I'm in a good job, the majority of my socialising is with colleagues, and the idea of playing golf to pass the time has zero appeal.

    So I can see why, despite initial intentions, people end up falling into the trap of carrying on working. In my case it certainly won't be for genuine financial reasons, I don't have an extravagant lifestyle relative to my means - realistically I could liquidate assets and retire comfortably tomorrow. But what on earth would I do once I'd caught up with my box sets??

    The 2 years I took as an 'extended sabattical' were quite an eye opener - volunteering was fun, not feeling knackered all the time was a bonus, and there were people I did genuinely enjoy spending more time with (yes, even the family...). But you really need a plan before you make that 'final' step out of work...
    Originally posted by ratechaser
    I don't necessarily agree with your final paragraph. If you dislike your job it can get to the point where it is doing enough harm that anything is better - plan or no plan.
    This is where I have found myself. Finish at the end of this month with no plan (other than a bit of decorating). I am sure when I settle, things will turn up.
    So I dont think there is any "rule" in this as it depends on circumstances.
    • tigerspill
    • By tigerspill 13th Apr 19, 8:37 AM
    • 391 Posts
    • 175 Thanks
    tigerspill
    Business class is roughly 10 times the cost of economy. A sample of BC flights to NYC from London come in at roughly £3500, compared with £300 for economy. This was on Google, so perhaps there are taxes to add.
    I'm not making this up for an argument, I've flown fairly frequently for work and am painfully aware how much BC costs. I could never force myself to pay for BC out of my own pocket and I'm 6ft 2"
    Originally posted by vulcanrtb
    You have picked an example here to make your point. But this is not the case in general.
    I now use business class to travel to the US regularly and the difference has never been anything like 10 times. Last 4-5 years (maybe 8 long haul business class flights) on the specific dates I wanted, business has never been more than 50% more than economy. And many of these flights would be considered peak times of year.
  • jamesd
    When I travel by train I often travel first class on longer journeys - providing I can get the weekend discount rate.
    Originally posted by Terron
    Worth checking week days because sometimes there can be discounted first when very discounted standard are sold out.

    On the weekends it can be worth checking zones for upgrades. Sometimes the end zones aren't worth paying for.

    Say Plymouth to Liskeard (actually Menheniot) is a half hour trip using one zone while the 90 minutes more to Penzance is another zone. If you're paying £10.75 for a day pass with railcard the £10 for Menheniot to Penzance might seem like a better buy than £15 for both zones. Though if food service isn't being provided you might find that no charge is made anyway.

    Or say St Germans to Southampton. One zone St Germans to Taunton can look good for about two hours but Taunton to the train change at Castle Cary is one zone more for just one stop and no first class on the Southampton leg.

    It's also worth knowing that when travelling with a pass to or from a station outside the pass area you can buy the extra ticket for a station even if the train you're on doesn't stop at that station (14.2). So just to the first station in your pass area will do.
    • gfplux
    • By gfplux 14th Apr 19, 12:03 PM
    • 4,630 Posts
    • 4,037 Thanks
    gfplux
    I think we have been had.
    Originally posted by melanzana
    I feel such a fool.

    I have been retired (for over 22 years)

    However my “advise” as such as it was is still valid.

    He/she/it has in no way devalued my advise from my perspective nor from those trying to help those putting their affairs in order in the long road to early retirement.
    There will be no Brexit dividend. "Brexit Blight of Uncertainty" sums it all up.
    • ognum
    • By ognum 14th Apr 19, 1:19 PM
    • 4,701 Posts
    • 7,666 Thanks
    ognum
    I have a four hour rule, if a flight is longer than this we fly buisness or first. However it is seldom we pay the price for this.

    We use American Express for all our purchases and both get a companion voucher every year so we can do two sets of long haul flights each year for the cost of taxes only.

    The good thing about retirement is that you can fly on days others don’t want to. Tuesday/Wednesday/Thursday and out of school holidays.

    It’s all about using the benefits of retirement to your advantage.
    • ratechaser
    • By ratechaser 14th Apr 19, 2:18 PM
    • 544 Posts
    • 453 Thanks
    ratechaser
    I have a four hour rule, if a flight is longer than this we fly buisness or first. However it is seldom we pay the price for this.

    We use American Express for all our purchases and both get a companion voucher every year so we can do two sets of long haul flights each year for the cost of taxes only.

    The good thing about retirement is that you can fly on days others donít want to. Tuesday/Wednesday/Thursday and out of school holidays.

    Itís all about using the benefits of retirement to your advantage.
    Originally posted by ognum
    Exactly that. Business outside the school hols = not that much more than economy during the school hols. If planned correctly!

    And the 4 hour rule is spot on as well, given that there's virtually nowhere you can go within that time period (from the UK) where there's a decent business class seat to be had. My BA silver status gets me lounge access and exit row seats in economy, so why would I pay for anyting more...
    • agent69
    • By agent69 14th Apr 19, 5:04 PM
    • 231 Posts
    • 182 Thanks
    agent69
    The good thing about retirement is that you can fly on days others donít want to. Tuesday/Wednesday/Thursday and out of school holidays.
    Originally posted by ognum

    Spot on.



    If you are retired and want to go somehere, you are in no rush to get there, and no rush to get home.
    • bugslett
    • By bugslett 15th Apr 19, 12:42 PM
    • 188 Posts
    • 685 Thanks
    bugslett
    I feel such a fool.

    I have been retired (for over 22 years)

    However my ďadviseĒ as such as it was is still valid.

    He/she/it has in no way devalued my advise from my perspective nor from those trying to help those putting their affairs in order in the long road to early retirement.
    Originally posted by gfplux
    You aren't so don't feel that. I don't believe for a second Marine Life is anyone but who they say they are.
    Yes I'm bugslet, I lost my original log in details and old e-mail address.
    • Marine_life
    • By Marine_life 16th Apr 19, 8:17 PM
    • 967 Posts
    • 1,876 Thanks
    Marine_life
    I'm with you mgdavid- the thread tracks the journey, who knows when retirement will come for Marine_life? I'm planning our retirement but some days I think to myself "Do you really want to stop doing this?" Then I might have a bad day and think "Roll on the pension!"
    Originally posted by crv1963
    You know what - this hits the nail on the head for me.

    Some days I wake up and think, why not go now? Money's not an issue why not just go and enjoy it? After all, what is it they say....who wants to be the richest person in the graveyard?

    But then other days I think, at age 54, once I retire, there's no going back or rather, there's no going back at the same level on the same pay....what happens in two years if I realise its the wrong decision? I've looked for other jobs at my level but....at 54, its difficult to get any interest, at 56.

    It doesn't help that Mrs ML thinks I'm not yet ready for a week of gardening and golf. She is relaxed whatever I decide to do but her opinion is I should keep going for another two years. but is that just kicking the can down the road?

    The easiest solution would be that someone forces retirement on me. The new job offer may not be confirmed, and while my 3-day-a-week part time gig ends in November in reality I have pretty much served my usefulness so they could decide to hand me my 15 days notice.

    The "problem" for those who've had a career (rather than a job), is that there has always been a sense of moving forward, moving upward, always something to strive towards. I've come to terms with having crossed the summit and begun the gentle slide down the other side but....like an ageing boxer, can I resist one more shot at the title?

    ....to be honest, I'm !!!!!!ed if I know
    Money won't buy you happiness....but I have rarely if ever been in a situation where more money made things worse!
    • mgdavid
    • By mgdavid 17th Apr 19, 12:38 AM
    • 6,188 Posts
    • 5,625 Thanks
    mgdavid
    At 54 if you went now you've a very good chance of being retired for longer than you've worked. Without one or more real passions among your interests, hobbies and pastimes I can see that there's every chance you'll be bored witless well before you go gaga.
    I reckon you are going to need to continue having one foot in the world of work and career for a bit longer. The trick is getting the balance right so you don't get too involved and overdo it, health- and stress-wise.
    I do hope that like some other major decisions in life you'll 'just know' when the time to go is right.
    The questions that get the best answers are the questions that give most detail....
    • crv1963
    • By crv1963 17th Apr 19, 6:07 AM
    • 787 Posts
    • 1,810 Thanks
    crv1963
    At 54 if you went now you've a very good chance of being retired for longer than you've worked. Without one or more real passions among your interests, hobbies and pastimes I can see that there's every chance you'll be bored witless well before you go gaga.
    I reckon you are going to need to continue having one foot in the world of work and career for a bit longer. The trick is getting the balance right so you don't get too involved and overdo it, health- and stress-wise.
    I do hope that like some other major decisions in life you'll 'just know' when the time to go is right.
    Originally posted by mgdavid
    Wise advice ML from mgdavid! Had it not been for my heart attack a couple of years ago I'd still be slogging away, but after recovery and return I re-evaluated my career and took a change of direction, which also led to increase in salary, but a return to shift work as opposed to the M-F, 9-5.

    I found enforced time off led to developing new interests that I now will use in retirement to fill some of the time.
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
    • Snakey
    • By Snakey 17th Apr 19, 7:48 AM
    • 1,111 Posts
    • 1,333 Thanks
    Snakey
    The "problem" for those who've had a career (rather than a job), is that there has always been a sense of moving forward, moving upward, always something to strive towards. I've come to terms with having crossed the summit and begun the gentle slide down the other side but....like an ageing boxer, can I resist one more shot at the title?
    Originally posted by Marine_life
    I like the big hill metaphor. It's like... OK, I hate the climb, I'm not a natural, I'm doing it because it's the only way to the zip slide which is the experience I really want. But what if I get to the top and there's a beautiful view, a picnic area with a nice cafe, a ruined castle to explore, some standing stones, maybe a rare sheep or two? There's still a little bit of walking if I want to see all that, but it isn't as steep and my legs aren't hurting so much now anyway. It would surely be daft to head straight for the slide just because I'd promised myself. Not when I'll never be up here again. What's the rush?

    If all goes according to plan I'll only be 51, so statistically my chances of dropping dead a week after I retire (as a joke of the gods for doing One More Year) are pretty low.
    • bugslett
    • By bugslett 17th Apr 19, 9:58 AM
    • 188 Posts
    • 685 Thanks
    bugslett
    7 more days that my business is operational and I'm 54. I get quite a lot of satisfaction and a sort of status from what I do, women in haulage are rare, I think I'm the only woman that does international haulage and I'm certainly the only woman in our very niche sector. So I'm a big fish in a small pond, possibly puddle. My life has been consumed by my job and the wheels I set in motion last year mean that there is really no going back now.

    But I'm not a tree. If I decide I don't like being retired, I can do something else. I don't see it as a slide down the other side, no sliding here until infirmity or ill health gets its mitts on me.

    I'm unsure what you do ML, but is there any option to work for yourself doing what you do now, or something related once you do take the plunge?
    Yes I'm bugslet, I lost my original log in details and old e-mail address.
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