Soldato
Learn about FIRE and you will be able to do it in a more effective way. It will require investing in index funds and bonds (if you are at the point of retiring) to make it possible.
it seems possible to retire - do you do it?
- Thread starter throwaway4372
- Start date
I think if you have enough time and motivation to live it's OK. But not scrimping by.
But everyone is different.
If I won the lottery I'd give up my job tomorrow.
Not sure if I'd do some charity work or not. But I certainly have no love for what I do. Like many people I assume.
Whats strange about this reply is, you're trying to make a point about extremely rare old people, the 1% of the 1% that can still run a marathon. Fact is, the vast majority of people on this forum will struggle to be any form of fit after 60 something.
Also the other guy above here was saying 'many on here are being setup for an extremely miserable existence' by "not preparing for retirement properly"
I think its just a lot of guys on this forum are very money driven, career driven, etc - as if retirement is some amazing goal to aim for - it is not, you're old by then, and this imaginary golden years image of a happy lovely existence where you dont have to go to work & you're free to go out and do what you want is indeed amazing - but the reality of it is, from simply observing old people - tiredness, age, disease, health conditions, for the vast majority - sure one or 2 will be running a marathon in his 70s...........but lets just look at the vast majority shall we?
Like, don't get me wrong, if you want to slave away with your best relatively fit and youthful years setting yourself up for an older version of you that isn't guaranteed to happen & doing that brings you a level of emotional security, I do totally get it.
Me? I'll Deal with it when I get to it, I don't mind being old and poor, because I won't have THAT long left to live anyway, realistically, I'll take 50-60 years of high quality life with 10 years of not much money on the end - because by that age I'm not materialistic & I can look back on doing life correctly, when I can physically do less.
There seems to be a great avoidance of the statistical inevitability - the amount of times I've seen someone work their **** off and then die 10 or less years later - what a waste, absolutely every single genuinely old person always says 'I wish I worked less'
As it is, in the past year I've spent a month in the EU, about 1.5 months in Scotland, a couple of months in Wales, as well as other trips thrown in between my work, LOVED IT, no regrets! My office bound mates are somewhat annoyed by me
How many old people do you see actually having a fun retirement? Not many from my experience. My grandparents were lucky and my grandad was still swimming daily in his pool over 80.
But most people are near enough housebound or dependant on others by that time.
That FIRE thing is my stuff of nightmares.
To retire for me I'd need loads of cash as I'd spend to much (ideally) and it's actually better (imo) to do more of that now and work later into life.
Save save save now for a future which may not come? Or be very much different (bad health) to what you expect? Not for me.
What's the point retiring at 40 and having to watch every penny?
Last few years have got me spending more as you never know what's around the corner. I regret not doing this sooner.
Of course if you are genuinely happy doing nothing, it's completely different
Soldato
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- 7 Aug 2004
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Totally agree with you there, we have a very finite existence, but understandably most people avoid thinking about it & presume they will go on forever, they won't & they'll likely have 80% + of the massive pile of cash they spent their life accumulating rather than actually living.
I defo work, trust me, but my mindset works better working my *** off for 2,3 months a year in one go, then enjoying life the rest of the time, I'm lucky I don't have to be chained into 9-5 economic slavery.
I would love to work 6 months of the year and the rest off. I'm planning/hoping/trying to make that happen. Because weekends and a bit of holiday a year just isn't a great work life balance
It could certainly be done - a nice house (or land!) can be had in the Highlands for £150k if you upped your budget.
Do you do it? - This inarguably depends on the person and what they plan to do for the rest of their life. For the OP at 38 it would mean spending the equivalent if not more than their lifetime that's already passed doing what exactly? 40 years doing nothing of any significance is a very long time in purgatory.
You must have a plan not just for your finances but also for the state of your physical and mental health.
Soldato
Not trying to be funny but that’s most people’s entire existences anyway… at least those retiring early to do what they want with their time are showing some control over it.
As for the country going to the tip if everyone retired early… *gestures vaguely* have you seen the state of the country lately? People shouldn’t be forced to take part in the absurdity of the entire global economy being dependent on never ending growth and pointless consumption just to maintain the status quo. People are opting out of that because of the state of the world today.
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I think some folks saying they couldn't imagine doing nothing must be extroverts. I'm an introvert and have pretty much always spent most of my time alone and would be totally fine with doing that for the remainder.
Physical health is actually a reason to want to retire, because my web dev job has had me chained to a desk getting stressed and stress eating, just not having the stress and eating better and being able to go outside for a couple of hours whenever I feel like it in the day is huge (doing it now as I'm unemployed, lost almost a stone so far).
Removing the career stress is the biggest mental health improvement I can imagine.
My point is that people who look after their bodies can be physically active well into old age. You are right that most of the forum would struggle at that age because based off of probability and looking at the general population most of the forum don’t look after their body.
My other point was that the idea that you would find a job when you are in your old age is a pipe dream. I’m pretty certain it get hard to find a job in your 60s let alone when past retirement.
As for the rest I don’t subscribe to the notion of you must live life in one of the two extremes.
The flip side to this position is mine where due to family members deceiving me in business and then an unexpected serious health condition (now recovered fortunately but at huge expense) I will now have to work until over 70. Knowing that's the future I have is far worse than wondering what to do with a long retirement time. I've not had a break/holiday in 14 years and can only dream of a week off.
Soldato
- Joined
- 7 Aug 2004
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- 11,086
That's literal slavery.
Soldato
i am fitter at 60 than at 20 tbh , higher muscle mass , coastal walking every week and bodyboarding (out back with fins not in the white water like a tourist) this why i suggested Cornwall as most of us have an outdoor lifestyle , that keeps you fitter longer (yeah yeah i know i guzzle the odd bottle of red)
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![[FnG]magnolia](/styles/overclockers/avatars/9.png){kind=avatar}
Caporegime
Retiring is an achievement not an outcome because you 'gave up'. Your numbers look low and unsustainable but I'd be questioning what I think I'd get from retiring and whether it's just an easier outcome than trying to get a job (which I know can be difficult, no shade intended).
e: I didn't even answer the question, sorry. We're looking to retire while we're both active and healthy and able to enjoy not working but that'll be through choice and ability rather than ... well, I said my piece earlier.
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Man of Honour
- Joined
- 21 Nov 2004
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- 45,984
I’d be bored if I retired now, but if I get to the point where work no longer gets me out of bed in the next 10-15 years I’ll go part time as a minimum.
Same.
I worked out, I could move to Thailand or the Philippines and live off my income I get from my rental property in the UK.
To be honest, if i did that. I get bored after a few months.
Yeah it's not nice.
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Soldato
To OP, what's stopping you doing your whole plan as written, but then just getting a job in the area you live? If you can afford to do what you write, then you can afford to get a low paid job doing something non taxing, non stressful. Eg work in a bar. Something that gets you in contact with people, but that doesn't matter if you get fed up of it. And it will help your money go further.
I think 38 is way too young to be giving up work entirely especially without being mega rich. 40 to 60 years scraping by on £18k a year? You won't have a life. It's not even warm and sunny here.
You've done well getting a 400k house and 100k in savings by 38. Feels like a waste if you just liquidate all that now when another 15-20 years in work would see you in a much better position and with enough money to actually travel or do something.
I think 38 is way too young to be giving up work entirely especially without being mega rich. 40 to 60 years scraping by on £18k a year? You won't have a life. It's not even warm and sunny here.
You've done well getting a 400k house and 100k in savings by 38. Feels like a waste if you just liquidate all that now when another 15-20 years in work would see you in a much better position and with enough money to actually travel or do something.
Caporegime
I'm sorry, but you're in an abusive relationship if you've been doing all that for her for 35 years and she has a go at how much you earn. She's supposed to be your partner, not another child.
Soldato
FIRE shouldn’t be a nightmare if you are retiring to something. The idea of having full freedom to do what you want is at least for me hugely important. If your life revolves around work then sure but that may not always be the case. Being at least financially independent is very liberating and you could choose to keep working and live quite an incredible lifestyle as a result.
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Soldato
I always wanted to retire as early as possible, live of my ISAs till my pensions kick in but recent family events has made me re-think…
Even as a single person, they will still be family members that feel that they need to look after you, and I really don’t want to be a burden and have to have family members dig me out of a financial pickle.
Even as a single person, they will still be family members that feel that they need to look after you, and I really don’t want to be a burden and have to have family members dig me out of a financial pickle.