What point for retirement?

[Kendhni]

I am just getting ready to fly out again and, while I love my job, you start wondering when is the right time to retire?

There is so much of this world I want to see in retirement, but that requires money and, while I am probably not a million miles away, I don't think there is quite enough there yet. I am also concerned about boredom - I have a very low attention span and need to keep my mind occupied ... a few years back I was off for a couple of weeks due to illness and Julie couldn't wait to get me back to work, I was so bored, there is only so much rearranging of the underwear drawer that you can do and daytime TV only goes to soften the brain ... I became the stereotypical grumpy old man complaining about everything in under two weeks (totally out of character for me) .

Fortunately I get more than enough annual leave at the minute for holidays and, as I said, I love my job ... so, just wondering when is the right time to put yourself out to pasture

[david63]

so, just wondering when is the right time to put yourself out to pasture

I don't think that anyone can answer that question but yourself. There are many factors that come into play and these are likely to be constantly changing/evolving. Something in life can just trigger that decision.

There are some who feel that it is right, and are able, to retire at 50 yet there are others, who are able to retire, who continue working well into their 70s and beyond.

[GillD46]

I think you’ll know when the time is right. I only worked for 10 years of our married life - and we’ve now been married 41 years - so there was no retirement for me as such.

My husband had the opportunity to take early retirement on health grounds after his back surgery left him with a spinal injury. He didn’t want to go that way, so battled on for another year as a P/T GP, which involved much sitting at the computer, and caused him great pain. He knew a year later it was time to retire - at 59. Had he gone the year before, we would have been considerably better off - salary paid until 65 - but he wanted to go properly and not be forced to stop.

I think most know when the time is right. Good luck.

[Meg 50]

I have a friend who loved his job - and worked well beyond retirement age. He said he'd go when it was the right time.

One morning , he woke up and thought - 'enough's enough' and handed in his notice that day!

[Meg 50]

when the time comes could you go P/T?

My OH reduced and reduced - down to one day a fortnight now!

[Jan Rosser]

Difficult to say when it is the right time - we are so individual in our needs but I had already opted for a 4 day week so that we could visit our sons and grandchildren who both live hundreds of miles away and then I just felt it was time to give up work altogether. The job I enjoyed had become a bit of a chore and then along came an offer of redundancy due to one of those local government reorganisations to save money and the offer was too good to refuse so I retired at the age of 59. It was a time of great change for me - my husband had passed away just months before and I was apprehensive as the retirement I planned wasn't to be but I have no regrets - life is for living and enjoying what makes you happy.

[Mervyn and Trish]

I did if bit by bit. 5 4 3 2 gone. Finally retired at 58. I've no regrets and no time to be bored.

[towny44]

Certainly part time is a good way to go, I was very fortunate my particular role was given an end date 2 years out, so I was able to plan my exit and move increasingly to part time. So when I eventually retired I had slid unnoticed into retirement mode, and of course a golden goodbye made the transition very comfortable.

[Manoverboard]

Some people can retire early and not be bored, like wot I did, but others work until the day they die never knowing when to give up because of the fear of losing power, money or sometimes losing the feeling of being valued outside of their marriage.

One thing is for certain however and that is to ensure that Julie is also ready to retire. That way you can share your retirement but do try to remember that there are only so many holidays, Pub lunches and day trips that you can do year on year.

Getting involved with Clubs, Sports or Community work etc can help but it is best to do these separately as ' personal space ' is vital during an extended period of retirement.

[barney]

My story is very similar Ken.

I left school, did an apprentiship and then did the 'travelling thing' for a few years.

In my mid twenties, I took a job in London for the government, and did that until I left in my early fifties.
I left on a time served basis and set up my own company, knowing that I could draw my pension at sixty.

So, all was geared up to retire at sixty.
I'm sixty two now and still working, all be it to suit myself.

When we moved down here, Mrs B quite fancied a litlle shop having worked in fashion retail for many years.
So, she took a lease and it was a roaring success, so much so that she has now opened another, which has also been a roaring success.

So, between us, we are as busy as we have ever been, but, importantly, without the grind of the nine to five and commuting.

Between my work, I act as Mrs B's go for. Running around here and there, but with no pressure to get too much done.

Life is good. We are both healthy and will probably continue as is until it becomes a chore.

So, when is the right time to retire ?

Only you will know tha answer to that.

[Stephen]

I guess it depends on three things. Finances, health and what you would like to do.

Who knows what's round the corner, and the older we all get the more we want to cram in before the grim reaper and the tax man cometh. If funds permit and you can still breath without an oxygen bottle and you have plans such as more travel then go for it Ken.

No point being the richest person in the grave yard. Just look at Onelife......oh sorry, he's still with us isn't he

[Onelife]

I guess it depends on three things. Finances, health and what you would like to do.

Who knows what's round the corner, and the older we all get the more we want to cram in before the grim reaper and the tax man cometh. If funds permit and you can still breath without an oxygen bottle and you have plans such as more travel then go for it Ken.

No point being the richest person in the grave yard. Just look at Onelife......oh sorry, he's still with us isn't he

You're always trying to put me down Stephen

[Ray Scully]

I was such a valuable asset to the company that with some reluctance let me go with a pension at 51. I had great ideas about setting up a consultancy business, but hey I would wait for a few months to enjoy a relaxed summer. Come Autumn the Consultancy was appearing not to be such a good idea. the mortgage was paid the boys' through Uni and Mrs. S about to get a similar deal. Boredom could have been a problem, however, an opportunity was there to volunteer to use our minimal skills to operate and improve our Village Hall. We finally retired from that after some twenty-odd years at the AGM a week ago

[colin parry]

I also retired at the age of 51 through illness and fatigue ( they were sick and tired of me ) seriously, at the end of April I will have been retired for 30 years . As stated earlier, all you need is good health and a decent pension. Whilst I enjoyed my time as a manager in petrochemicals ( Shell) I can honestly say that retirement is preferable so if you have the opportunity to finish early, grab it with both hands.

[Stephen]

I guess it depends on three things. Finances, health and what you would like to do.

Who knows what's round the corner, and the older we all get the more we want to cram in before the grim reaper and the tax man cometh. If funds permit and you can still breath without an oxygen bottle and you have plans such as more travel then go for it Ken.

No point being the richest person in the grave yard. Just look at Onelife......oh sorry, he's still with us isn't he

You're always trying to put me down Stephen

I know, but you just can't get a vet when you need one

[Gill W]

My husband is eight and a half years older than me and we always planned to retire at the same time, so it was always on the cards that I would retire fairly early.

When I was 50, I was made redundant. I found another job which was two days a week, and shortly after that my husband reduced his hours and started working 4 days a week.

In 2014 I was getting really fed up with my job, the 2 days a week were an unwelcome interruption to my otherwise pleasant life. Then, in the summer of 2014 I was ill, and it made me re - evaluate me life. We crunched the numbers, and decided we'd be financially ok, so we both retired in the December of 2014, when I was 54

I have no regrets, and we've found that we are never bored. We don't belong to clubs or anything like that, but like days out and walking, and when we are at home we have sufficient space to get on with our own interests, so we have time to ourselves as well.

On the financial front, I don't know how old you are, but don't forget that you and Julie won't get your state pensions until you are 66 or 67, amd your work or personal pensions will be lower if you take them earlier. Also, it's worth getting a state pension projection for both of you. If you had a good occupational pension, you were probably contracted out of SERPS. If so, your pension projection may be less than the full New State Pension of £168. I fall into this category, so I'm paying voluntary national insurance for another 4 years, to increase my state pension to the max of £168

[Kendhni]

It is funny that it wasn't that long ago that retirement seemed such a long long way away, and I have no idea where the years have gone (especially the last 5-6 years). I remember my grandmother saying that as you get older the years get shorter - and she was right.

Many of you youngsters were younger than me when you retired, I am in the upper 50's now. We both have already reached full state pension - but can't claim for at least another 10 years.

I was talking to a couple at the airport the other day, they were heading off to Thailand, got a fantastic last minute deal in a luxury hotel (he showed me pictures - I drooled a little) working out at under £60pppd (including flights) - darn I wish I could have jumped on their plane instead of the one back home

As many of you hint that you know when you are ready, so I guess I am not ready yet

[allatc]

When you stop enjoying the job, that is the time.

[david63]

I remember my grandmother saying that as you get older the years get shorter - and she was right.

Many years ago I read a theory about this. It goes along the lines that as you get older each year is a smaller percentage of the time that you have lived. So when you were 10 a year was 10% of your life, but when you are 50 it is 2%

[Quizzical Bob]

Many years ago I read a theory about this. It goes along the lines that as you get older each year is a smaller percentage of the time that you have lived. So when you were 10 a year was 10% of your life, but when you are 50 it is 2%

Not only that, but each year that remains is a larger fraction of what you have left.

[wolfie]

I have no regrets about taking early retirement in my early 50's due to OH's health condition even though we had 2 offspring at university at the time. No regrets at all.

If we had waited to do all that we wanted to do until we were in our 60's we would never have done as much as we did. You never know what is around the corner and what fate throws at you, so I would suggest that everyone lives for the moment.

IF you are even contemplating retirement.... maybe you are ready.