Retirement thread

[admira]

3 more days for me and then I'm done; giving it all up at 58 so a fair few years early.

Any tips and advice from those that have done it? I've worked full time since I was 16 so I know it's going to be life changing but unsure what to expect!

[Grumpy Git]

I'm 62 and keep toying with the idea, but I can't quite make the "leap of faith".

[Ram-Alf]

I retired at 53 from RR, Took my pension and chilled out for 6 months, Then re set, I went and worked part time, I did this for 13 years, Chilled out between jobs when I felt my time there was up so moved on to other PT work...mostly cleaning or supervising cleaners.

Now retired fulltime...I'm 68 today 😊 🎂 and I find life is great and I enjoy everyday 👍 

[ketteringram]

1 hour ago, admira said:

3 more days for me and then I'm done; giving it all up at 58 so a fair few years early.

Any tips and advice from those that have done it? I've worked full time since I was 16 so I know it's going to be life changing but unsure what to expect!

Good luck and well done. Do you have any kind of plan? It's always said that you should retire into something, rather than just retiring from something. Obviously the something could be anything. Travel, holidays, voluntary work, hobbies etc. You have , hopefully, a very long retirement ahead of you!

I'm terrible for this. Will turn 65 this year, and thinking of stopping at Christmas, as it seems a natural break . Or possibly carry on til the end of the tax year, and finish March 2025. 

 I won't be stopping though, because there's loads of things I want to do. More a case of I've just had enough of work. Like you, been full time since aged 16. 

I have no interest in doing the vast majority of what a lot of retired people seem to want to do. But I'm going to have to find something, and some kind of structure to stick to. 

[admira]

4 minutes ago, ketteringram said:

Good luck and well done. Do you have any kind of plan? It's always said that you should retire into something, rather than just retiring from something. Obviously the something could be anything. Travel, holidays, voluntary work, hobbies etc. You have , hopefully, a very long retirement ahead of you!

I'm terrible for this. Will turn 65 this year, and thinking of stopping at Christmas, as it seems a natural break . Or possibly carry on til the end of the tax year, and finish March 2025. 

 I won't be stopping though, because there's loads of things I want to do. More a case of I've just had enough of work. Like you, been full time since aged 16. 

I have no interest in doing the vast majority of what a lot of retired people seem to want to do. But I'm going to have to find something, and some kind of structure to stick to. 

Thanks. This year is travel, travel, travel but that's what we do anyway (16 trips abroad taken or planned this year). Might look for some a couple of days a week next year because I'll go stir crazy otherwise. Not good at staying in or lazing around! Oh and I'll get a better bike! 

Good luck with your plans too. One of my colleagues died suddenly at his desk at the age of 22 last year and it made me think, right, that's me done with work. Life's too short.

[Premier ram]

1 hour ago, Ram-Alf said:

I retired at 53 from RR, Took my pension and chilled out for 6 months, Then re set, I went and worked part time, I did this for 13 years, Chilled out between jobs when I felt my time there was up so moved on to other PT work...mostly cleaning or supervising cleaners.

Now retired fulltime...I'm 68 today 😊 🎂 and I find life is great and I enjoy everyday 👍 

Happy Birthday mate , here’s to many more

 

                    

[Turk Thrust]

I’m 78 this year and retired in 2011. I worked on British Aid projects in developing countries mainly in Africa but I’ve carried on doing odd bits since. But only one visit a year now, the whole airport experience can get a bit much and 2 weeks in, say, Nigeria, is enough for me now. 

[Reggie Greenwood]

I am 64 and told my bosses yesterday that I will retire on the 31st of Jan next year. Sorting the finances with my advisor in July. Won’t have a fortune but should be comfortable. 
Not really decided how my time will be filled but with Partner , Grand Kids , probably spending time watching cricket at Derbyshire in the Summer , the Rams in winter ,  connecting with mates seeing bands plus being able to get more time listening to my vinyl I’m sure I’ll be ok. 

[admira]

Moving from my lifelong home in Suffolk to Derbyshire to be nearer our team is on the agenda for next year.

I might have to learn to speak to strangers though, not natural behavior in these parts!

[Reggie Greenwood]

32 minutes ago, admira said:

Moving from my lifelong home in Suffolk to Derbyshire to be nearer our team is on the agenda for next year.

I might have to learn to speak to strangers though, not natural behavior in these parts!

You might have to connect with like minded Rams fans as well 😱

[Eddie]

I packed it up just before my 65th birthday.

A couple of months later, I was at a dinner in Brizzle (a few beers beforehand in the Strawberry Thief, which might explain things) and I allowed my son's boss to persuade me to work for him as a PCI Compliance consultant/Business analyst on a part-time basis. I gave it 4 years then knocked it on the head again, and finally properly retired a couple of years ago.

I now spend my time watching the rain at the County Ground.

[Scott129]

I'm 31 so can't offer any insight into retirement, but I do have a question about pensions (if I may hijack this thread).

The typical advice is to take the age at which you started putting into a pension, halve it as a percentage, and save that much of your pay each month.

So, for example, if you start at 30, you save 15% every pay check up until retirement age. And that should be enough to live comfortably upon retirement.

Does that stack up with what people have done? I'm not going to ask people the size of their pension pot, but it would be interesting to hear perhaps what's needed as a multiplier/percentage of their salary.

Also, any other financial advice for retirement?

[Reggie Greenwood]

5 minutes ago, Scott129 said:

I'm 31 so can't offer any insight into retirement, but I do have a question about pensions (if I may hijack this thread).

The typical advice is to take the age at which you started putting into a pension, halve it as a percentage, and save that much of your pay each month.

So, for example, if you start at 30, you save 15% every pay check up until retirement age. And that should be enough to live comfortably upon retirement.

Does that stack up with what people have done? I'm not going to ask people the size of their pension pot, but it would be interesting to hear perhaps what's needed as a multiplier/percentage of their salary.

Also, any other financial advice for retirement?

Put as much as you can afford in and then pray Liz Truss doesn’t become PM again 

[ketteringram]

22 minutes ago, Scott129 said:

I'm 31 so can't offer any insight into retirement, but I do have a question about pensions (if I may hijack this thread).

The typical advice is to take the age at which you started putting into a pension, halve it as a percentage, and save that much of your pay each month.

So, for example, if you start at 30, you save 15% every pay check up until retirement age. And that should be enough to live comfortably upon retirement.

Does that stack up with what people have done? I'm not going to ask people the size of their pension pot, but it would be interesting to hear perhaps what's needed as a multiplier/percentage of their salary.

Also, any other financial advice for retirement?

I'd say that's a reasonable starting point, but wouldn't just leave it at 15%. If possible, I'd increase it each year, or at least if you get a pay rise. 

[Mucker1884]

At 61, my life is very much geared to a happy/successful retirement... Marriage and hobbies in particular, but also health, social life, family etc. 

The problem for me lies solely on the financial side.  All the above can only continue with my current income (and a bit of savings), so I really don't envisage retiring any time soon!
(House is basic at best, but has been long paid for, and tidy enough, so we have that security at least, I guess.)

I was always very blasé about private pensions etc... In truth, with my family history/genes, I truly didn't expect to be here this long!  (Both mum & dad failed to reach their 50's!).  Just my luck I'm as fit as a fiddle!  🤣

 

Hey.  I'm very much a "Take each day as it comes/what will be will be" kind o' guy, and that ain't gonna change now, so I'll plod on, and see what happens.  

 

Best of luck to all of you who have retired recently and/or are about to. 
I won't call you lucky, as I'm sure you've earned it, but I won't deny there's a teeny bit of envy/regret creeping in now I'm almost "at that age"! (But only on this subject... no regrets elsewhere!) 

Enjoy... yer owd buggers!  😁🍻

[Steve How Hard?]

1 hour ago, Eddie said:

I packed it up just before my 65th birthday.

A couple of months later, I was at a dinner in Brizzle (a few beers beforehand in the Strawberry Thief, which might explain things) and I allowed my son's boss to persuade me to work for him as a PCI Compliance consultant/Business analyst on a part-time basis. I gave it 4 years then knocked it on the head again, and finally properly retired a couple of years ago.

I now spend my time watching the rain at the County Ground.

Gotta be better than watching that shower at the City Ground.

[Elwood P Dowd]

I've bee retired over 10 years now, with my hobbies, the garden, house jobs,  my wife's jobs, holidays, Children, grand children, great grandchildren, there's not enough time in the day.

Work was highly over rated I don't miss it one bit, it always got in the way of my hobbies.

@admira In my experience you will soon find there are not enough hours in the day, retirement is not all comfy chairs and a nice nap in the afternoon😂 ...................well not very day.

[Ram-Alf]

1 hour ago, Scott129 said:

I'm 31 so can't offer any insight into retirement, but I do have a question about pensions (if I may hijack this thread).

The typical advice is to take the age at which you started putting into a pension, halve it as a percentage, and save that much of your pay each month.

So, for example, if you start at 30, you save 15% every pay check up until retirement age. And that should be enough to live comfortably upon retirement.

Does that stack up with what people have done? I'm not going to ask people the size of their pension pot, but it would be interesting to hear perhaps what's needed as a multiplier/percentage of their salary.

Also, any other financial advice for retirement?

As Reg has said...put away as much as you can afford, But, You have an age before you retire, My guess mid 70s at the rate things are going, We paid our mortgage off 6 years early and I whacked a load of loot into my RR...AVCs(advanced contributions)

Will a government pension be available when you retire 🤷‍♂️, I've told both Son and Daughter to plough in as much into their private pensions as they can afford.

If you do it right...you'll be OK...I hope...all the best Scott

[Day]

5 hours ago, admira said:

3 more days for me and then I'm done; giving it all up at 58 so a fair few years early.

Any tips and advice from those that have done it? I've worked full time since I was 16 so I know it's going to be life changing but unsure what to expect!

Following you on Instagram, I find it hard to believe you work full time on top of the social life and travelling you do!

Always a hotel, festival, gig or something going on, can’t see you being a feet up and slippers on kinda guy that’s for sure.

[Alph]

5 hours ago, Ram-Alf said:

I retired at 53 from RR, Took my pension and chilled out for 6 months, Then re set, I went and worked part time, I did this for 13 years, Chilled out between jobs when I felt my time there was up so moved on to other PT work...mostly cleaning or supervising cleaners.

Now retired fulltime...I'm 68 today 😊 🎂 and I find life is great and I enjoy everyday 👍 

Happy Birthday 🎉