Retirement - top tips?

rich1068 · July 5, 2020

Following this thread with interest but what is this "retirement" you speak. "Pension" is another word I'm unfamiliar with

52 in October and I'll be working until I cark it...

cloudedmind · July 5, 2020

retirement its that thing people who get paid a decent wage do.

pension is what you could have paid into instead of buying a lexus .. LOL

PCM · July 5, 2020

3 hours ago, RgrWynne said:

Hi Piers, you already have plenty of advice. I think all of it good. My advice is to initially take time out, minimum of 6 months in order to clear your mind. Don’t burn your bridges on what you do now, but leave all options open. After you have experienced whatever you want to do , then make some plans. I am not sold on this ‘retirement ‘ thing, I am 70 this year, but it is each to his own. Having run my own Companies, of different types since 1993, and still having business interests I have found that to be my passion. I am now busy , in a good way, and on my terms, as I ever was , and have been offered Directorships, with contacts made over the years which I have accepted.
It is very important to keep your brain active, keep physically active, and enjoy life. There are so many opportunities out there.....grab em and good luck, Cheers, Roger

Thank you.

PCM · July 5, 2020

12 minutes ago, cloudedmind said:

retirement its that thing people who get paid a decent wage do.

pension is what you could have paid into instead of buying a lexus .. LOL

Indeed.

I started pensions for our children when they were about 8 - so, I hope, they don't need to work until they are 100.

royoftherovers · July 5, 2020

33 minutes ago, rich1068 said:

Following this thread with interest but what is this "retirement" you speak. "Pension" is another word I'm unfamiliar with

52 in October and I'll be working until I cark it...

52 in October Richie, I need to give you far less respect than hitherto (lol).

Retirement is the road which leads to Utopia via Brigadoon !

Do enjoy the journey as if one can arrive, then the journey will have been worthwhile

rich1068 · July 6, 2020

16 hours ago, royoftherovers said:

52 in October Richie, I need to give you far less respect than hitherto (lol).

I know I'm a bit of a nipper round here...

royoftherovers · July 6, 2020

21 minutes ago, rich1068 said:

I know I'm a bit of a nipper round here...

But unlike some Nippers Richie, you impart knowledge, experience and courtesy.Thank you and keep up the good work.

( I`ll bet that poor old Ron is still waiting for his beer ? )

doog442 · July 6, 2020

I retired at 48, pensions and everything sorted, mortgage paid off etc. What do I do ? Play golf, cycle long distances, walk our two dogs, visit National Trust properties, cook, do the housework, potter around the garden, the odd bit of DIY and plenty of travelling. I also follow our local football team all around the country and care for my elderly mother and father in law. I also seem to be the mechanic for the extended family's fleet of cars.

I met an old friend, same age who'd also taken early retirement around the same time. He had no hobbies or any real Interests of note. He'd spent the last twenty years building his business up successfully , working crazy hours and knew nothing else. He told me the boredom was doing his head in and stated his Intention to go back to work, he didn't need it financially.

I guess it depends on the Individual. There are days if the weather's bad for example and it can feel a bit 'samey' but I rarely feel bored. The family are starting to fly the nest so I guess that will be another chapter to keep my occupied. My daughter for example bought a flat so I had a great time helping her decorate it etc.

royoftherovers · July 6, 2020

18 minutes ago, doog442 said:

I retired at 48, pensions and everything sorted, mortgage paid off etc. What do I do ? Play golf, cycle long distances, walk our two dogs, visit National Trust properties, cook, do the housework, potter around the garden, the odd bit of DIY and plenty of travelling. I also follow our local football team all around the country and care for my elderly mother and father in law. I also seem to be the mechanic for the extended family's fleet of cars.

I met an old friend, same age who'd also taken early retirement around the same time. He had no hobbies or any real Interests of note. He'd spent the last twenty years building his business up successfully , working crazy hours and knew nothing else. He told me the boredom was doing his head in and stated his Intention to go back to work, he didn't need it financially.

I guess it depends on the Individual. There are days if the weather's bad for example and it can feel a bit 'samey' but I rarely feel bored. The family are starting to fly the nest so I guess that will be another chapter to keep my occupied. My daughter for example bought a flat so I had a great time helping her decorate it etc.

So many things to do Doog. So many people to meet. So many assists to give.So many friends to make. So many opportunities to learn. And so little time in which to do it all.

Now, just where did it all go wrong ?

Take care.

PCM · July 6, 2020

3 hours ago, doog442 said:

I retired at 48, pensions and everything sorted, mortgage paid off etc. What do I do ? Play golf, cycle long distances, walk our two dogs, visit National Trust properties, cook, do the housework, potter around the garden, the odd bit of DIY and plenty of travelling. I also follow our local football team all around the country and care for my elderly mother and father in law. I also seem to be the mechanic for the extended family's fleet of cars.

I met an old friend, same age who'd also taken early retirement around the same time. He had no hobbies or any real Interests of note. He'd spent the last twenty years building his business up successfully , working crazy hours and knew nothing else. He told me the boredom was doing his head in and stated his Intention to go back to work, he didn't need it financially.

I guess it depends on the Individual. There are days if the weather's bad for example and it can feel a bit 'samey' but I rarely feel bored. The family are starting to fly the nest so I guess that will be another chapter to keep my occupied. My daughter for example bought a flat so I had a great time helping her decorate it etc.

That sounds brilliant.

I'll go with Option 1 !

steve2006 · July 6, 2020

I finished working in power distribution at 57 and having holidayed there many times decided to go to Cyprus over winter. We rented an apartment but it was so cold we cut it short and returned home after Christmas. It was also cold back here in the UK and short days. Little in the way of gardening to do or anything else for that matter.

Totally bored I applied for a job in metering and being qualified was back in a job by February. That was now 3 years ago so another company pension building up slowly and a salary.

Thinking of doing another year or so then putting the tools down again.

We have also considered a boat but located in the Med so we can travel around the Greek islands at leisure just need to improve my language skills a bit more.

RgrWynne · July 6, 2020

57 minutes ago, steve2006 said:

I finished working in power distribution at 57 and having holidayed there many times decided to go to Cyprus over winter. We rented an apartment but it was so cold we cut it short and returned home after Christmas. It was also cold back here in the UK and short days. Little in the way of gardening to do or anything else for that matter.

Totally bored I applied for a job in metering and being qualified was back in a job by February. That was now 3 years ago so another company pension building up slowly and a salary.

Thinking of doing another year or so then putting the tools down again.

We have also considered a boat but located in the Med so we can travel around the Greek islands at leisure just need to improve my language skills a bit more.

Hi Steve a bit similar in that I sold one of my businesses and bought a boat in Spain , so travelled the Med and the Balearics . Actually you don’t really need good language cos most marinas etc speak English and although we had a place in Spain since 2002, my Spanish is not good but surprising how you get by. I would definitely do it while youngish and fit, but I also got fed up eventually of drinking in the sun and sold up. Now looking what to do next but I expect I will always work cos I just get bored , but some people get enormous pleasure out of the freedom , diy, gardening or whatever but not me. However it is lovely to spoil the grandchildren ....now that does give us enormous pleasure 🤗 Cheers , Roger

Ala Larj · July 6, 2020

I retired at 58, moved to the country with an acre of land and have never been so busy. My only regret is not doing it earlier! I guess you have to enjoy gardening but the pleasure it brings is immense. My guitars keep me busy during winter months!

Shahpor · July 6, 2020

Wow, so many here have retired 'early'.

Is there a secret to this or was it just prudent planning?

I am currently 42 and fully expect to need to work until I am 67, unless the government decide to raise the retirement age again!

PCM · July 7, 2020

7 hours ago, Shahpor said:

Wow, so many here have retired 'early'.

Is there a secret to this or was it just prudent planning?

I am currently 42 and fully expect to need to work until I am 67, unless the government decide to raise the retirement age again!

Prudent planning, starting a pension early, luck?

Mossypossy · July 7, 2020

Lot of luck. Helps if you are a boomer as well.

My son is waaaaaay more intelligent than me, Oxford then Imperial, has a good first job but doubt he can retire at 55 like we did.

I retired from a low paid wine trade job at age 30, to raise kids, wife was a schoolteacher. Property prices helped us enormously. Bought at age 25, mortgage free at 42. Always very prudent with money though.

(Don't waste your money on private education for your kids!) No need.

PCM · July 7, 2020

8 minutes ago, Mossypossy said:

Lot of luck. Helps if you are a boomer as well.

My son is waaaaaay more intelligent than me, Oxford then Imperial, has a good first job but doubt he can retire at 55 like we did.

I retired from a low paid wine trade job at age 30, to raise kids, wife was a schoolteacher. Property prices helped us enormously. Bought at age 25, mortgage free at 42. Always very prudent with money though.

You've had luck, but you also posses a lot of wisdom.

royoftherovers · July 7, 2020

8 hours ago, Shahpor said:

Wow, so many here have retired 'early'.

Is there a secret to this or was it just prudent planning?

I am currently 42 and fully expect to need to work until I am 67, unless the government decide to raise the retirement age again!

As PCM SAID, BUT DO NOT RUSH as 42 is the most significant age in the entire universe!

If you have not done so, then read Hitchhikers Guide to the Galaxy!

Shahpor · July 7, 2020

I have read it many times (I also know where my towel is)

Well, I am afraid the decent pension option sailed away some time ago as I wasn't that prudent in my youth.

I agree with the housing situation though. There would have been no way I could have afforded my own place at 25, and even now we only bought this place a year ago with a 25 year mortgage.

Oh well, nose to the grindstone it is then.