Early retirement, what do you think?

[crookesey 632]

Should I do it, live for 5 years on savings and investments and leave my various pension funds until I reach 65?

 

I will probably do a bit of consultancy work but will be giving up a fair old wedge of salary. All of my Public Sector friends have retired as a right, some of them a damn sight earlier than age 60, most of my Private Sector friends with final salary schemes have taken early retirement packages and have no regrets.

 

I have sussed out good long term lets in the sun and would love to get rid of our winters. Other than a few aches and pains (that dissapear when I am in the sun) mainly caused by old sporting injuries I am pretty fit so I don't see myself being idle.

 

Saying it and doing it are two different things, I don't think that I will change my mind but please help anyone who has done it, what's it like? :help:

[LHarman 11]

do it, life is for living......, as long as you can eat and pay your bills, youre ok, who knowa what avenues it may open.....

[x111james 10]

My dad never got the chance to retire. He had a massive heart attack at the age of 54. You never know what life has in store, so take the chance I would:thumbsup:

[BrainThrust 10]

It really does depend on what you see yourself doing with all this new time you have. For some it is a godsend and lets them do what they've not had time for during the rest of their life but for others it's a proverbial nail in the coffin.

 

2 case studies for you

 

My dad's best mate took early retirement from being a mathematics/science (not sure) lecturer. His passion was acoustics etc and he'd save dup enough to retire very comofrtably. He's probably the most active guy I know, still discussing things and enjoying life to the full with his wife.

 

My grandad took early retirement ( 59 i think) and that was the end of him. He used to run a pub and was the life ans soul of it. When he retired he had given up on life and sits, sleeping 22 hors a day, doing nothing. What happened was that he was always active in the pub because people were in, once the need for people to go visit him had gone, he ust stopped. As he'd always had people come to him (ran a pub all his life) he wasn'tused to going to other people and that was it, he's still alive but all he says is 'I'm old and I want to die'.

 

You really got to look at if you KNOW what you will do with all your time beforehand. I wish you all the luck with it though!

 

Wilf

[LHarman 11]

My dad never got the chance to retire. He had a massive heart attack at the age of 54. You never know what life has in store, so take the chance I would:thumbsup:

my thoughts exactly,my dad died at 56 when i was 11, my brother died without warning suddenly 5 yrs ago at 51, my brother in law passed away last year at the age of 50,theres no telling whats around the corner, somethings are more important than how much is in the bank, its never too late to find new stuff to do, im sure anyone who retires now will have so much to consider doing, its a new start, a bit like leaving school, a bit scary but exiting, id go for the thrill.

[pk014b7161 11]

retire & enjoy yourself ...remember work kills horses

[PatzB 10]

My dad had to retire due to ill health at 50 and I'm really glad he had it forced upon him because he died last year at 59 (unrelated problems) and least he had some time without the grind of work

 

If you can do it then go for it and good luck

[crookesey 632]

Thanks all, I have tried to look into the future and know that with good health I won't sit down and die on purpose.

 

What does worry me is that when I am on holiday I have the odd brandy, don't do it here as beer or wine are my drink so will have to keep off the top shelf whilst on the long term lets in the sun.

 

I want to take up shore fishing and start to play tennis again, other than that there are places to see that I just can't be arsed whilst on a short holiday. I can walk for miles on a beach and it's the only time that my wife likes walking.

 

So I will start the count down.

[LordChaverly 10]

Given the fact that people in general are living a damn sight longer than they used to, early retirement raises serious questions about what do do with the rest of your life. Some people of course retire too late, but some too early. Perhaps more thought ought to go into retirement planning.

[Joanl 12]

Yes do it, without a doubt. My parents both died too before they had the chance to enjoy their retirement and I always swore that when the time came for me I would pack up work and do what they couldn't.

When I did retire 4 years ago, people were saying, oh you'll be bored. Well no, I'm not, in fact I often wonder how I found the time to work.

It saddens me to hear the news that people are soon going to HAVE to work longer now with less time to live out their retirement dreams.

Good Luck and Enjoy.

[Zebra 10]

A friend of mine retired a couple of year ago and we read some stats on the net about pensions, he had some concerns. Statistics showed that early retirement is good only for those who indulge in activities, those who watch tv and do little tend to die within 5 years of retirement, those who do a lot tend to use their pensions up and keep going.

So, if you plan to be active, go for it, if not, perhaps part time would be an answer to maintain longevity.

[crookesey 632]

Given the fact that people in general are living a damn sight longer than they used to, early retirement raises serious questions about what do do with the rest of your life. Some people of course retire too late, but some too early

. Perhaps more thought ought to go into retirement planning

.

 

This is why I asked the question, the financial side of things is easy in that either you can or cannot afford to. The health side of things is in the hands of the gods, all you can do is to live properly and keep your fingers crossed.

 

I would just like to hear from someone in similar circumstances who has done it. We all meet people on a face to face basis who would not admit to making a mistake. I know a guy who retired from the law 15 years ago at age 44, he tells everyone how wonderful it is but they don't know that he has twice been on a life support machine due to his morning to night drinking habit. I feel that I have a far better chance of an honest answer on this Forum.