The retirement thread

Roland

For those of us who have retired, or are contemplating retirement. What are/were your plans? What's the reality? Eg Do you play more? Did you buy yourself a retirement present?

I confess that I'm thinking about it, but no concrete plans yet.

wrinkleygit

30 months to go, unless the govt move the goal posts, don't have the luxury of a final salary pension only my own private funded pension that I started off when I was 30 yrs old, which looks like it will return just enough to cover my gas & electric bill if I'm lucky !!! my arthritis is getting worse & dexterity in my hands is deteriorating, my advice is " live for today & worry about tomorrow when it happens" , mike b.

TTony

I'm hoping that 2015 will be my last year of necessary income generating work.  Any work thereafter would be because we want some extra ££s or because something more interesting than being retired pops up.

I have a list of things that I want to do, and haven't had the time to do whilst working.  Some are guitar related (making more, learning more, maybe even finding a band to play more) and I want to learn more about composing, recording and mixing.  

Other hobbies too (I want to learn photography properly, and cookery!), plus general fitness and active-ness after years of being sat on my arse on trains and in offices.  

I suspect that my wife has a list too.

I think the trick is to be ready to replace one set of activities (ie work and everything associated with that) with another set, rather than just stopping everything and slobbing out in front of the TV.

BenSirAmos

I spent a long time finding work that I enjoy. I ain't giving up ever (at least, while I can talk and/or type)

Jalapeno

Definitely play more - the jazz guys I play with Thu evenings, play 3-4 times a week (lunchtime/afternoon gigs)  the lucky buggers !

Walking/Golf/Exercise

(Re) learn woodwork

Bit of Guitar setup/luthiery

Probably some voluntary work

VimFuego

I "retired" from corporate work 71/2 years ago, probably work more now than I ever did.

boogieman

Took an early retirement deal nearly two years ago. Best thing I ever did. No stress, better quality of life, more time to do things and meet up with friends. My wife retired from nursing a year ago too and she's really enjoying life now.

Funnily enough I'm not playing as much as I used to, but I reckon that's partly because I used to use playing as a de-stressing thing after all the crap at work. I did buy myself a THR10C and a Les Paul though.

The biggest benefit for me has been the ability to travel more. We can go off season so the prices are better, or just do things last minute.

The thing to do though is make sure you have plenty to keep you busy, like hobbies and projects to keep your mind active. Several of us took the retirement deal from work at the same time. One of my old colleagues seems to do nothing these days but laze around on the sofa in his pants watching Bargain Hunt and Jeremy Kyle.

CabbageCat

Allotment!

I'm sure I'll be up to my neck in cabbages when I retire. It won't be for 20 years yet but I've already put myself on the waiting list.

EricTheWeary

My father retired at 55, when I was a teenager. He worked part time, did an OU degree, took up bridge, sorted the garden, had some holidays ( my mother wouldn't go abroad but some cheap off peak UK holidays), taught me to drive, stuff like that. Seemed to be a nice period. By 56 the larger part of my mortgage should be paid, kids will be adult sized and I should be able to claim my pension. Lots of things that can go wrong in the next 6 years and quite a high risk that early retirement will equal caring for elderly relatives. But, the idea of a campervan and 6 months around Europe, doing the house up and moving to a cottage in Wales is pleasant daydreaming at least...

Snap

I'm 45, I'd hoped to retire at 55, but I can't see that happening, thought it could do, possibly.

I'm in the fortunate position of being in control of all that, as a business owner. Thing is, I want to see my kids through university, without coming out in a lot of debt, and I may need to work longer to make sure that happens. 10 years time, they could be through it and out the other side, the pair of them, so maybe I will be putting my feet up.

I like working though, well should I say, I like the prospect of earning to get flexibility in life. Thinking about it, I stepped out of the corporate cage when I was 30, when we set ourselves up, so I have a different take on it. At the moment, the prospect of still working in some form, at 65, doesn't really phase me. I may of course feel different in a few years time, cos I am assuming I will still have the heart, and health for it.

lloyd

I'm 33, retirement seems a long way away. I've only just started paying into a pension too so I'll be poor when I retire, although my girlfriend is on a final salary pension scheme so will just mooch off her and hope I die first!!

TinLip

lloyd said:

I'm 33, retirement seems a long way away. I've only just started paying into a pension too so I'll be poor when I retire, although my girlfriend is on a final salary pension scheme so will just mooch off her and hope I die first!!

She sounds like marriage material. 

underdog

Snap;452506" said:

I'm 45, I'd hoped to retire at 55, but I can't see that happening, thought it could do, possibly.



I'm in the fortunate position of being in control of all that, as a business owner. Thing is, I want to see my kids through university, without coming out in a lot of debt, and I may need to work longer to make sure that happens. 10 years time, they could be through it and out the other side, the pair of them, so maybe I will be putting my feet up.



I like working though, well should I say, I like the prospect of earning to get flexibility in life. Thinking about it, I stepped out of the corporate cage when I was 30, when we set ourselves up, so I have a different take on it. At the moment, the prospect of still working in some form, at 65, doesn't really phase me. I may of course feel different in a few years time, cos I am assuming I will still have the heart, and health for it.

I'm with you completely on that, I love running our business, we have plans in place to allow us retire while the business still earns, but honestly I'd rather work there less when I'm older if needed rather than not work there at all.

I'd eventually like to build a house on the 70 acres my father has but who knows.

lloyd

TinLip said:

lloyd said:

I'm 33, retirement seems a long way away. I've only just started paying into a pension too so I'll be poor when I retire, although my girlfriend is on a final salary pension scheme so will just mooch off her and hope I die first!!

She sounds like marriage material. 

If only I was

ESBlonde

If I'd stayed single and not had kids I'd have retired at 55 (my original plan). But the divorce and more importantly the upbringing of the boys means I will be paying a mortgage for 5 more years. Totally worth it IMO.
Present employment is pleasant, reasonable commute and a nice package.
Adequate pensions in place, I have started an allotment, I have lots of decent woodworking power tools and the company of a good woman with personal means and a decent pension herself. So at this stage the future looks rosy. All I have to do now is survive in half decent health and jobs a goodun.

I shouldn't wish my life away but I look forward to the day.

rolls1392

Retired in 2004 after 30yrs as a plod.

Much busier now with what I want to do

Don't miss work at all but enjoy the pension!!

VimFuego

oddly enuff, was just reading a blog (totally unrelated to this, was researching off grid living and this chaps blog popped up) and one of his posts was about the end of when, as in the end (for him) of I will do this when... It really resonated with something I felt but didn't or couldn't articulate. For me, I knew what I wanted to do with my life and I didn't want to have to wait until a when or series of when's occurred. I didn't want to have to wail until I was 55 or 60. I didn't want to have to wait until I had a decent pension pot. Don't get me wrong, I understand why people do wait till when and I'm not judging or condemning them for it, but the way I see it it we have only one life, this isn't a dress rehearsal so you have to do it (whatever your it is) in the span allotted to you. I realise, for me, that this may make the latter part of my life more difficult (it may not, who can tell) though I intend to work for as long as I can, but I refuse to definitely sacrifice one part of my life (i.e. now) to doing something I don't enjoy in order to alleviate the fear that something may happen in another part of my life.

underdog

Vim have a wisdom.

Snap

Vim, that's a good philosophy, and needs bold actions.

But...I think it's easier to make those bold moves when there's only two of you affected (IIRC, you don't have any Vim Jrs?).

The most important thing for me, is that my 2 girls get the best start that I can possibly give them, even if that means sacrificing a chunk of years to achieving that.

Looking back those first 20 years of life have an enormous impact on where you go in life, and we are trying to make sure that these years are as well balanced and as happy as we can. For us, that means stability and opportunity to experience the world and life. That requires, in my view, graft and provision of financial stability.

If I can get these two out on their life paths with a balanced outlook on the world, inquisitive minds, and a set of qualifications (academic or othewise) that will get them on the route to being fulfilled as people, then I honestly odn't worry about anything else. The rest is a bonus.

I hope that doesn't come across as sanctimonious, what I mean is, get the kids sorted, the rest will fall into place, lol.

and i want a house in an isolated bit of land where I don't have to see anyone should I choose not to. Some day.

Rocker

When you retire, you have to re-organize your life.  By that I mean sit down with those closest to you and decide on mealtimes.  You might wish to be the family cook, the family shopper or whatever.  These activities put structure into your life.  Up to now your work structured your day - commuting, eating in the factory canteen, coffee in Starbucks etc.

I believe that eating well [healthy eating without going overboard about it] minimizes your risks of long term illness.  No supporting evidence about this except that these days I rarely get a cold.  Which compares to the several per year when I was working full time.

Keeping yourself busy is the key to happy retirement IMHO.  Your weekly income is considerably reduced, so allowances need to be made for this.

musicegbdf

As always depends on your personal circumstances. I earn a reasonable salary, but I have invested most of it into my three daughters. I gave up nice cars,holidays and such and gave each of them the boost they needed.
Helped eldest through uni and she is now a teacher. Middle one I paid for private theatre school and remortgaged to pay for it. Youngest off to uni next year ,and doing the same for her. When she is finished I will be retiring hopefully and cleared the debt.
My mind is first I have to "court" the missus. We have given up a lot for 30 years for the girls and then it is our time.
I hope to put together a studio to mess around in , but not pressure myself. All I need is good health for me and mrs M... and enough to not to worry about the bills...