Time to knock it on the head

Congraz... I'm 47 at the moment and if I stay at this role till I'm 60, I should be able to retire.
Hopefully they will remove the goldern handcuffs and replace it with a parachute..

I may get a noddy job in IT just to keep be busy and pocket money till I'm 67, but I plan to live of my stocks and shares ISA for the first few years till my two DB pensions kick in then my current pension at 67.
I'm forecast to be able to live a moderate lifestyle in the UK if I do stop paying into my current pension at 60. but I'm pondering the idea of gettting a small pension annuity with my SS ISA so that I have a regular income which helps with the VISA for living aboard.
 
mid_gen said:
Having had two close friends pass in recent years before making it past 40.....absolutely retire as soon as you can. Or at least find a work life balance that lets you enjoy your working years to the full.
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Yes. All those "rare before 40" conditions start becoming real. And it feels like (I can't say for sure) more people are leaving below 40 too.

I know I'm never going to retire materially below the average age. And the sacrifice is too much.

Doing more (ie spending time and money making memories) is now super important for me. The potential to not make it to retirement and/or retirement not being nice at all anyway has lead me to this.
 
So many people are planning on retiring early or taking a noddy job after they build up some savings. They don't want the stress of working anymore. For my generation on-wards it just feels like we are working towards nothing.

I'm planning to retire at 50 if I can. Luckily I can start getting my CS pension at 55. A colleague who did well on stocks and bitcoin is gone and moving to Thailand at 38!

There is no way I'm working until I'm almost 70, not for someone else anyway. The government is going to get a big shock as people start dropping out of work early and move abroad. There is a large financial hole on the way.
 
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Nasher said:
There is no way I'm working until I'm almost 70, not for someone else anyway. The government is going to get a big shock as people start dropping out of work early and move abroad. There is a large financial hole on the way.
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The government knows most people cant move abroad for various reasons (Brexit/Family) and these are the same people who can't retire early due to financial reasons.

People who can would have done it already or at least close to the process of doing so.
 
This is a massive issue in the NHS. Medicine is becoming increasingly senior lead and all the skills are concentrated in fewer and fewer experienced people.

Its not possible to work long days/nights/weekends in you late 50s/60s so there's a massive problem coming in the next 10 years or so as the most skilled staff give up acute work and those coming up dont have the skills or experience to manage.
 
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Nasher said:
So many people are planning on retiring early or taking a noddy job after they build up some savings. They don't want the stress of working anymore. For my generation on-wards it just feels like we are working towards nothing.

I'm planning to retire at 50 if I can. Luckily I can start getting my CS pension at 55. A colleague who did well on stocks and bitcoin is gone and moving to Thailand at 38!

There is no way I'm working until I'm almost 70, not for someone else anyway. The government is going to get a big shock as people start dropping out of work early and move abroad. There is a large financial hole on the way.
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What's a CS pension worth at 55? CS, military pensions are very good, but they aren't retirement money. I take it you have savings/investments on top of the pension to be able to retire at 50?

Moderate retirement:

One person: £31,700. Two person: £43,900
 
ivrytwr3 said:
What's a CS pension worth at 55? CS, military pensions are very good, but they aren't retirement money. I take it you have savings/investments on top of the pension to be able to retire at 50?

Moderate retirement:

One person: £31,700. Two person: £43,900
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When quoting those figures for recommended retirement income, do they include rent/mortgage or assume that you own your own home? Because those seem to be quite different financial scenarios.
 
ivrytwr3 said:
What's a CS pension worth at 55? CS, military pensions are very good, but they aren't retirement money. I take it you have savings/investments on top of the pension to be able to retire at 50?

Moderate retirement:

One person: £31,700. Two person: £43,900
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It's enough to either go part time or have a disposable job probably. Not enough to retire entirely on. I'm also investing.
 
Nasher said:
It's enough to either go part time or have a disposable job probably. Not enough to retire entirely on. I'm also investing.
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Same. My pension is a very nice top up, but not enough to fully retire :(

If we still have a state pension or it isn't mans tested; then we can fully relax - lol!
 
I hope to be able to taper down work. And work less days per week if possible.

Inwont/don't earn enough to retire early and have a good retirement.
I'd rather work part time to supplement pension etc.

If automation doesn't force the issue before 50! :D
 
Slam62 said:
Having seen my parents grow old , I think it’s a very good idea to retire early.
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The sad thing is that's becoming more of a pipe dream for anyone who's not within about 10-15 years of retirement.

I was reading something the other day about the continuing costs of the state pension to the taxpayer will start to become something like 8-10% of GDP. Basically it's getting to the point of being unaffordable with the way it's currently funded. Meaning that either the taxpayer has to pay in significantly more, the state pension age needs to raise another 10-15 years, or they have to get rid of the triple lock and have smaller to no increases to the value of the pension.
 
Congratulations on taking retirement and relocating. Definitely got to look af6ter yourself health wise - hopefully Thailand will be stress free (aside from dodgy propositions on the streets) and be good for you :)
 
Enjoy retirement. My dad had a big heart op (also a brain op a few years after!) about 16 or so years ago, shortly after which he also finished work. He is still going strong so hopefully you all have lots of time left with it :)
 
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