Early retirement

[soulstyledevon]

It’s great to hear how many people have survived a Big C diagnosis.

As far as I’m concerned, providing you don’t retire, to sit around watching TV all day, then do it and keep yourself active and disciplined. Get involved with lots of different clubs and communities. Being with people and having a purpose is key.

 

[GrumpyGranddad]

What’s people’s thoughts on early retirement good or bad interested either way

I retired a little early at 63. That was 10 years ago this coming June and I’ve not regretted it for a moment. All I would say is that you need to keep physically and mentally active, make the most of life and resist the temptation to buy beige shoes

Nobody on their deathbed has ever been quoted as saying ‘I wish I’d spent more time in the office’

 

[GrumpyGranddad]

It’s great to hear how many people have survived a Big C diagnosis.

As far as I’m concerned, providing you don’t retire, to sit around watching TV all day, then do it and keep yourself active and disciplined. Get involved with lots of different clubs and communities. Being with people and having a purpose is key.

Sadly I lost a very close friend to cancer last month aged just 70!
You’re a long time dead, so yes, take early retirement if you can.

 

[BeagleMum]

What’s people’s thoughts on early retirement good or bad interested either way

I would encourage anyone to do it if possible. I wanted to, wasted over 2 years debating finishing early as I was anxious about loss of income. Finally jumped off the cliff, come 1st November it will be 10 years since I retired early, absolutely best decision for me & my loved ones.

 

[Mansfieldman750]

Well I worked from age 16 to 69, mainly dyeing socks but for the last 12 years as a warehouse operative on the night shift at Wilko. Best job in the world for keeping you fit - 8 hours solid pushing, pulling and lifting.
Anyway my wife retired on Feb 11th and here we are on the best campsite we’ve ever been on outside L’Estartit on Costa Brava.
Which we definitely wouldn’t be doing if we hadn’t worked up to state pension age, or in my case well beyond it.
So I guess that’s it in a nutshell - if you want to retire early and you have the ways and means, do it.
If not, keep on turning up !

 

[KevH]

Retired at 59 after a cancer diagnosis (my wife at the same time aged 56) in 2021. I’m now cancer free and enjoying life spending weeks touring Europe in the summer months. But……. I do find the winter months (Nov - Feb) a bit long - we can’t go away in winter due to elderly parents . Lots of my mates still work so I do miss the social interaction that work give me - but I don’t miss all the crap of work itself (and I loved my job as a headteacher). I still do a lot but be prepared for some boring days/weeks - it isn’t all bliss! On the other hand my wife hasn’t looked back.

Definitely agree that some days are ‘empty’ but never boring. It’s a hangover from working 9 to 5 I reckon. My opinion and experience, we are all different.
Personally I research family and local history in winter and throw in some visits to related parts of the country when out and about in the van in the main camping season. It adds purpose to some very unlikely trips and grows my understanding of my own roots. Love it, beats the daily commute any day.

 

[Corradobrit]

My plan is to pursue seasonal interests depending if its in season or off season. I have a friend in Porto Portugal who has an audio company and builds speakers and amplifiers. We are getting together in May for the High End Expo in Munich where he will be providing the speakers for one of the biggest names in valve amplifiers Thomas Mayer. I could see myself assisting (and he needs all the help he can get using the CNC machine and doing the actual construction) with his business in the winter months......
I'm not artistic so painting is not an option and I suck at learning languages so I want to take up something that plays to my strengths like watch repairing. Following YT vloggers like Watch Revival make it quite an appealing and rewarding pastime. Inexpensive to setup and for someone who is mechanically minded and fascinated by horology, its easy to get into.

 

[CoboCali]

I retired from full time work 9months ago at the age of 53, after 35 years career in IT/Telecomms. I was lucky I could start a defined benefit pension a few months later - even if it was reduced for taking it early it does mean we are comfortable. My wife continues to work 3x 12 hour nursing shifts a week as she enjoys it. Our kids are grown and independent in their mid twenties. I haven't missed work one bit.... and I'm fitter than ever, running on average 40miles/week. Hiking in Wales/Lakes regularly aided by the Cali life of course. Life is for living....

 

[Cali-donia]

I’m actively planing to semi retire at 55 in July. After working a six week shift pattern that includes a week of nights for the last 22 years, I’m going to work a 2 day week and start taking my pension.

Also, I’m finally going to buy a California after about 10 years of deliberation!

I’ve not met anyone who regrets retiring early, one colleague went part-time a few years ago, he’s still going and has now worked over 50 years with the company.

21 night shifts to go

 

[Cali Phillip]

Work for some is ‘their life’, whereas life for some is ‘their work’.
Finance is an issue, although if you’re on this forum it is a relative issue and maybe it should always be such.
“you have nothing to lose but your chains”
Enjoy.

So true, it's hard when work and social lines are blurred too, be nice to finally use the California for leisure not work as well and have a good long holiday.

 

[pjm-84]

Just leaving work.... 6.30pm. Another 3yrs - 5yrs to go.

 

[Robert&Catherine]

We have recently handed over the day to day running of our business to two managers so that my wife and I can semi-retire. Loving having the extra time to properly enjoy the Cali even though I still feel I am skiving off school. Hopefully it will feel more normal in a few months time. Determined not to follow in my Dad’s footsteps as he worked incredibly hard and didn’t make it to retirement age.

 

[Saesneg Shaun]

I’m actively planing to semi retire at 55 in July. After working a six week shift pattern that includes a week of nights for the last 22 years, I’m going to work a 2 day week and start taking my pension.

Also, I’m finally going to buy a California after about 10 years of deliberation!

I’ve not met anyone who regrets retiring early, one colleague went part-time a few years ago, he’s still going and has now worked over 50 years with the company.

21 night shifts to go

Ditching the shifts is the best thing you can do. Same as you I worked a six week pattern inc night and weekends.
Lots of people say I changed as a person after giving them up, gawd knows what I was like before!

 

[soulstyledevon]

I’m actively planing to semi retire at 55 in July. After working a six week shift pattern that includes a week of nights for the last 22 years, I’m going to work a 2 day week and start taking my pension.

Also, I’m finally going to buy a California after about 10 years of deliberation!

I’ve not met anyone who regrets retiring early, one colleague went part-time a few years ago, he’s still going and has now worked over 50 years with the company.

21 night shifts to go

I went Part-Time in 2016 to spend more time with our only child. It’s been amazing and I’ve loved every minute, being involved with his world, the school and seeing him grow and develop. I’ve been very lucky.
However, it’s taken a sledge hammer to further career development and progress and I’m at the stage now, where I’m considering full time employment again.

He’s 8 and growing fast, I’m wondering whether I need to start focusing on my next chapter.
Giving up the free time and the opportunities to spend further time with him, is a real conundrum.

Not sure which direction to take at the moment…

 

[Cali-donia]

I went Part-Time in 2016 to spend more time with our only child. It’s been amazing and I’ve loved every minute, being involved with his world, the school and seeing him grow and develop. I’ve been very lucky.
However, it’s taken a sledge hammer to further career development and progress and I’m at the stage now, where I’m considering full time employment again.

He’s 8 and growing fast, I’m wondering whether I need to start focusing on my next chapter.
Giving up the free time and the opportunities to spend further time with him, is a real conundrum.

Not sure which direction to take at the moment…

I know it’s a cliche, but they grow up so fast, you won’t regret the time you’ve invested in his early years.

 

[Commer63]

I survived a diagnosis of cancer at the age of 40 with a reaccurance at 45 but at the time our focus was the needs of our 3 children - but this type of diagnosis does chang your perspective on life and over time that became increasingly difficult to live with.. Then when one of my children had a difficult birth far away from home and I realised that that is where I needed to be. I withdrew from a deputy headteacher interview and retired from the teaching profession! My husband then suffered a life threatening incident during COVID which led to the decision to buy our California Beach Camper - it has changed our lives in a a way we could never have imagined 5 years ago.
The future is so bright, sometimes we gotta wear shades!

 

[willwander]

I’m 54.
I plan to hand my notice in at work at end of March and retire.
A bit apprehensive as I will be living off savings and investments. In an uncertain world it’s difficult to plan finances for, hopefully, the next 40 years.


I’ve thought it over a lot, but sometimes you just have to say fk it.

 

[subthree]

I went Part-Time in 2016 to spend more time with our only child. It’s been amazing and I’ve loved every minute, being involved with his world, the school and seeing him grow and develop. I’ve been very lucky.
However, it’s taken a sledge hammer to further career development and progress and I’m at the stage now, where I’m considering full time employment again.

He’s 8 and growing fast, I’m wondering whether I need to start focusing on my next chapter.
Giving up the free time and the opportunities to spend further time with him, is a real conundrum.

Not sure which direction to take at the moment…

Our eldest is currently in Year 7, it was his 12th birthday recently. He has grown up so much in the last 6 months it's incredible. Good lad, but matured. Not the "little boy" that we cried together with at the end of his Y6 leavers assembly. Grab what time you can whilst yours is still at Primary School.

 

[Defender90]

I’m actively planing to semi retire at 55 in July. After working a six week shift pattern that includes a week of nights for the last 22 years, I’m going to work a 2 day week and start taking my pension.

Also, I’m finally going to buy a California after about 10 years of deliberation!

I’ve not met anyone who regrets retiring early, one colleague went part-time a few years ago, he’s still going and has now worked over 50 years with the company.

21 night shifts to go

Well that’s my plan now going down to a 3 day flexible week as of the end of this month then see how I go which I think is probably a good transition into early retirement I am only 48 this year.

 

[SamSara]

I have been working 4 days a week to manage caring responsibilities but my son needs to go into an emergency placement next week. I have the option of going full time but will try to manage financially and follow Gary Neville’s lead with a weekly mini retirement, however I don't see him jumping into the Cali on a Thursday evening with his paddle board.

 

[GabiBarajas]

Best thread I have ever read.

My granpa retired at 60 and died at 94.
My father retired at 61 and now is 78, my mother 65 and 75.
My gradpa did not have any hobby, he always told me that if he knew he was going to live so long, he would have started sth.My parents have their own Cali and keep busy the whole year, physically and mentally with plenty of activities.

I am 43 now, no mortage, one kid. I will make numbers with my wife tonight.
Gabi.

 

[18ME]

I’m now 57 and my partner has her 60th next week. I don’t plan on retiring in the foreseeable future because neither of us have got a pension plan and will only get the state one at 67. Been self employed in retail for most of my life and with the ups and downs, divorce and other things getting in the way never had managed to set up a pension but always had it in the back of my mind that the shop would end up being my pension, whether I sold it or let someone run it and try and live off the profits.

Its sad to hear so many people getting cancer but also good to know they’ve got through it. I was the same, being diagnosed just over 2 years ago with Prostate Cancer but fortunate they caught it before it spread so had a prostatectomy. Okay now apart from some of the usual side affects and PSA tests every 3 months. This was the catalyst of buying an Audi R8 just before the op after the diagnosis, as always been into cars but never spent over £100k on a car before so thought sod it, if I don’t do it now I might never get the chance again. Then last year we hired a Cali as I wanted to try different things and now took delivery of one this week. We won’t have as much time as some to use it that much but try and have varied days away in it mixed with the normal holidays abroad and car events.

 

[Lambeth Cali]

I had kids quite old so my son will turn 18yrs a few months after I turn 60, 7 years from now. We bought the van when my wife was pregnant with our daughter who is now 14yrs. We have never gone away in the van without kids so I look forward to that.

Best thread I have ever read.

My granpa retired at 60 and died at 94.
My father retired at 61 and now is 78, my mother 65 and 75.
My gradpa did not have any hobby, he always told me that if he knew he was going to live so long, he would have started sth.My parents have their own Cali and keep busy the whole year, physically and mentally with plenty of activities.

I am 43 now, no mortage, one kid. I will make numbers with my wife tonight.
Gabi.

Your parents still drive a Cali at 75 and 78? That’s pretty impressive.

 

[willwander]

How much income do you need in retirement?
According to the PLSA.

Single Person
Minimum £14,400
Moderate £31,300
Comfortable £43,100

Couple
Minimum £22,400
Moderate £43,100
Comfortable £59,000

What would be more useful, is the pension pot size you would need to achieve the above depending on the age you retire. Rest assured....it's a lot.
Discuss.

Home - PLSA - Retirement Living Standards

Home - The Retirement Living Standards have been developed to help us to picture what kind of lifestyle we could have in retirement.

www.retirementlivingstandards.org.uk

 

[Mansfieldman750]

How much income do you need in retirement?
According to the PLSA.

Single Person
Minimum £14,400
Moderate £31,300
Comfortable £43,100

Couple
Minimum £22,400
Moderate £43,100
Comfortable £59,000

What would be more useful, is the pension pot size you would need to achieve the above depending on the age you retire. Rest assured....it's a lot.
Discuss.

Home - PLSA - Retirement Living Standards

Home - The Retirement Living Standards have been developed to help us to picture what kind of lifestyle we could have in retirement.

www.retirementlivingstandards.org.uk

The State Pension goes up to £221 a week in April. £442 for a couple.
Now what size of a private pension pot would you need to buy an annuity giving you that level of income, triple locked remember ? A few hundred grand without bothering to look up annuity tables.
So it strikes me that the State Pension is
1) Actually quite generous
2) Unsustainable

With a General Election coming up neither side is going to come out and say they will scrap the triple lock but either it’s going or the state pension age is going up.