Time to retire?

[tigersaw]

I feel your dilemma. I set my sights on retiring at age 50 early in my career, and began financial planning for it long ago. Now as that age is close I hadn't banked on these t*ssers in power changing the minimum retirement age with the stroke of a pen and taxing the cr*p out of everybody as well. It very 'do I don't I' for me too, I like my job too, but hate the early mornings (either 3:50 or 4:50). Not sure what I'd do after work, though my brother owns a bar in Teneriffe..

[Bri w]

Mmmmmmm.

Tigersaw gives a valid reminder. If I'd wanted to go this year I'd have had to let the Tax man know before April 1st. Thanks to a change in the law, as of 1st April I can't draw from my pension pots till I'm 57 - Oct 2015. I could still go this year with what's in the bank...

Dicky T and one or two others have mentioned the health issues that can arise with age etc. Courtesy of a WOMAN driver winters are especially painful, and the warmth of a foreign climate does make quite a difference. And if its warm and dry, bike riding is more fun. Having loads of pills to take every morning suggests it won't be a long retirement if I wait till 65.

Love for the job; it's a fun job, and more importantly I work with some great people. The 15 engineers I manage are a caring bunch of guys, both for each other and hugely supportive of me. I feel an almost parental Duty of Care for them, and would .... fret a little over them if I left - I know, stupid.

Some have said go as soon as poss and just enjoy life. With so many family members popping their clogs in the last few years it's a very tempting option.

And Mrs Bri (Barb) would go tomorrow.

Aaaaaarrrrgggghhhhhh! This is doing my head in. I need to get stuck into work and ignore this urge till it wanes a little.

P.S. I'll make sure a new place is big enough for those on bike tours.

Bri---If you are thinking about it,to late the seed is sown------------just do it.
You can always find some little job to counteract any wrong decision where as keeping on working it will only nag at the back of your mind-----"Only if"

I was exactly the same but now three years in I know I made the right decision.

I work with quite a few guys who could afford to leave tomorrow however they know every year they stay on they get another couple of grand a year pension so it's worth them staying.

You got to get a piece of paper and write down the amount of money you need to live off realistically, allowance for any problems and add 10% on and you should be fine. Once you reach that target then either begin slowing down on work or just pack in completely.

Bri - put it this way. We none of us know when we're going to die. You could live another 40 years or you might live another 4 weeks. When they get to the pearly gates I doubt that many people really wish that they had spent more time in the office.

If it was me, I'd be out asap as long as I had enough to get by on.

[timwilky]

My main issue is my employers will not permit an early retirement as our scheme is in a bit of a mess and the employers are putting in a huge amount to clear the hole over time. I need to be at deaths door and get it on ill health. As others have noted, those that tend to do a full term kick the bucket soon after.

[Bri w]

Tim, a few more nights out with DP will see you out on medical grounds - or in the Betty Ford Clinic.

Bri, there's a lot of evidence to say that those who retire early live longer provided they remain active.

The gradually winding down theory is nice but if you're in an final salary pension scheme it might not be an attractice option.

Go as as soon as you can. Chill for while and then, if you feel like it, get yourself a part-time stress-free job that will suit to keep you active.

[Bri w]

Originally Posted by Jabba

Bri, there's a lot of evidence to say that those who retire early live longer provided they remain active.

The gradually winding down theory is nice but if you're in an final salary pension scheme it might not be an attractice option.

Go as as soon as you can. Chill for while and then, if you feel like it, get yourself a part-time stress-free job that will suit to keep you active.

My ideal is house with olive/fruit grove, a few chickens, and a bike - oh, and take Mrs B along for the ironing.

A 5000sq/m Olive Grove will return about £3k towards the pension, and will also do as a part time job.

5000m2 is some olive grove!!!