i could retire today

[clay]

came home from work today and went to the motorhome to get something out, it was sitting there all ready to go, i hav'nt been out in it for 3 weeks and not due to go untill next thursday. i sat down and thought long and hard about early retirement, i have a good job on excellent salary and was quite happy untill i bought my first motorhome, slowly but surely the pull of the van is taking over and i am becoming more unsettled as time goes by, i am 62 and could work till i am 65, has anyone else felt like this and how did you get around it. (?)

[derek500]

We gave it up when we were both 47, six years ago.

 

Luckily, we both had good jobs and we saved a lot, so we have enough money to last us until our pensions start at 60.

 

Nine years 'til I'm 62, couldn't have gone on working 'til then!!

 

[Guest Tracker]

We decided when I was 30 to plan to retire at age my 56 and we saved in several ways - mainly pensions - to make it so.

 

We didn't go without much whilst we saved for 25 years and inflation was kind to us but in the event I missed my target by a year - and was able to retire at age 55 instead!

 

That was 10 years ago and I've NEVER looked back or regretted it in any way.

 

We always knew what our outgoings and living costs were - including the proposed new leisure time - so as soon as the pension fund reached enough to fund it we were off!

 

The main keys to unlock a happy retirement are no mortgage, enough income to live a comfortable life to standards you have become used to, and enough capital to fund all the toys and still have a reserve for disaster recovery.

 

If that's you - why not give very serious consideration to getting on with the rest of your life - after all tomorrow is promised to noone and we none of us know how long we've got to divest ourselves of our kids and Grasping Gordon's inheritance!

[duetto owner]

If you can afford it retire now, why work till your old then drop dead two days after retirement. been retired year and a half now, never looked back.

 

i can get by on my workpension till the state one kicks in so see no point in working extra years or getting another job.

 

 

[ike]

Clay  I'm afraid it's all down to money and what we can comfortably live on. I retired early 9 years ago aged 50, with a reasonable pension and haven't regretted it. Hubby would love to stop working but he is self-employed and of course his small private pension funds have taken a severe knocking so he's not in a position to give up working yet. However he has gone "part-time", taking a reduction in income but at least this means we can get away in the van more often than if he was full time. We do manage to get away for 5/6 weeks break a year and we will go away even for very short jaunts of one or two nights to enjoy the van. We too are seriously thinking about when he will be able to stop working. It will mean a big change in our lifestyle, one thing we don't want to give up is having a van so other things will have to go. We will probably "downsize" our home, hopefully to raise some money. In the meantime I'm trying to save as much as possible whilst still leading a normal life, after all I could fall under a bus tomorrow! Is it possible for you to reduce your hours/job share to give you at least some more free time?

What difference will working another 3 years make to you financially? Balance maybe receiving a slightly reduced occupational pension against FREEDOM NOW! I know what I would choose.

Good luck

ike

cheers ike

[kelly58]

One thing you cannot buy is time and yesterday will never come again see a good financial advisor like we did sold our pensions to the highest bidder and have not looked back the relief of not having to get up to go to work is priceless. Just think when eveyday's a Sunday and its bank holiday every week , go for it ..

[Brian Peters]

i had to retire due to ill health at the age of 52, thank god we had bought a motorhome a year earlier. My wife got pensioned off in her job aged 50. Now we can go where we want, when we want. We call ourselves YAPS, Young Aged Pensioners. I am glad i didnt wait till 65.

Brian

[Mel B]

We're trying to retire early! Unfortunately things keep conspiring to make it difficult ...

 

We were due to retire in autumn last year after we sold our bungalow, but then the bottom fell out of the housing market. :-( So, we decided to work an extra year to put in the pot the value that we had lost, which we've done so we've got a nice cusion of savings behind us now, it was already a big cushion, now its just a bit bigger and should be more than enough to see us through until my hubby's work pension kicks in, in 9 years time, followed in later years by his state pension and my work pension, and my state pension after that. It doesn't matter now whether we sell our bungalow or not, if we do then all to the good, if not, then its still a very nice place to live in the meantime.

 

We've still got our rental bungalow too but again, things have conspired against us, our tenant was very happy there but all of a sudden decided to leave - we know not why and the agents ... don't get me started on those useless so- and-sos who have really messed up big time!!! We were going to give our one-month's notice in at the end of July (ie next Friday!), but although the mortgage for the bungalow is less than £100 a month, we don't want to leave whilst there's not a tenant there as we won't want to go on any extended trips away whilst its unoccupied ... so ... we're stuck working still. >:-( We have considered selling the rental property but if we do so at the moment (it should sell as it's at the lower end of the scale and in a good area) we'll end up paying tax on the profit as we'll be over our personal tax allowances for the year, so it doesn't make sense, maybe next tax year ....

 

I've only been back at work since Tuesday after returning from our 3 week holiday in France, and already I feel like screaming to be let free!!! It'll get worse next week when my boss returns from his 2 week holiday so I'm expecting all hell to break lose (it usually does) .... oh such joy!

 

I know we are very fortunate at being able to make this sort of choice at our age but I can't wait to retire early, if I have to do my job for much longer I'll end up killing someone I'm sure! 8-)

[DESCO]

If you think you can manage it go for it.

I gave up work at 58 did not know if I could afford to but an uncle who retired earlier than that said they had managed easily so why not give it a go. As I had been 3 years cabbing since being made redundant, I thought why not I could always go back, but never did.

Best thing I ever did, it has been a close call at times till the pensions kicked in but if I had my time over again I would still do the same.

You can't replace time.

 

Best of luck

 

Dave

[starvin marvin]

I loved my job and was very reluctant to give it up, and still miss it sometimes, but unfortunately time is finite.

 

Stop looking at the wire start digging the tunnel.

[rupert123]

Clay, I do not agree with much that has been said here, my wife and I took a differant route. The thought of saving for retirement for 25 or 30 years is completely against our nature, what a nightmare, we were to busy spending money enjoying ourselves. We have worked for ourselves most of our working lives. I did a five year apprenticship as an electrical engineer in a royal dockyard, then spent two years working for BP as an engineer officer on tankers. We made a joint decision to go our own way from then and have only worked for others during short periods while between differant projects, some succesful some not. When I was 39 we had a very successful business but decided that we required more time off so sold up and moved to North Wales, where we have been ever since, working for ourselves in the holiday trade. We worked flat out for six months a year then closed for six months so plenty of time to do what we wished. We sort of retired about three years ago but still have some business interest, not having a project would drive me mad, but still managed just over six months away last year and will do the same this. Now however we choose our times away rather than having them dictated by holiday season. At present we are renovating one of our flats to sell but will do it as we please so have a project and when we get fed up off we go for a period and do not have to plan ahead. I also still buy and sell a few cars a year, around 30, so keep myself amused when not away. The thought of being completely retired horrifies me but not having to get up to go to work is great. If you use some imagination you can easily semi retire and work out ways to earn a little extra cash if you wish or need to. One thing is for sure though everyone needs at least six months holiday a year, especially with a motorhome. What I am trying to say, badly, is yes retire asap but why vegetate, keep your brain active and earn a little cash at the same time.

[Clive]

I have been fortunate to have been in full time employment since January 1962 and in a final sallary pension scheme since I was 21. I am a tight old sod so for quite a few years have been putting a goodly amount away each month. For example when the mortgage finished I carried on putting that amount into a savings acount. Anyway as has been said the pull of the motorhome increases, the buzz one gets at work decreases and eventually I did the maths, asked the questions and took early retirement at age 60 and 3 months, the 42nd anniversary of my employment with the company and my second job!.

 

But escape still takes a lot of organising. We continue to look after the wifes mother one full day every week, she is 94 and lives out in the sticks but has limited mobility. I am not allowed to push her wheelchair as I am too rough (horray!!) Then there are five local grand children as well as our two grown up children. We take one grandchild to ballet every week and am involved in anothers interest in Taiquando. We take the youngest swimming once a week as well.

 

Then for some insane reason I said YES when the old firm asked me back on a part time basis as a consultant in the marketing division after 10 months freedom. But its different, I am my own boss and work from home mostly. Its just engineering and not politics (which I am no good at)

 

So its all about balance. What is right for you is not necessarilly right for someone else. But don,t believe that you can just switch off work activities and play full time because for most of us we still need some sort of challenge.

 

Does the wife think I am mad - well yes, but we would not have our new tardis if I were not.

 

Live long and Prosper.

 

 

Clive

 

 

 

[libby]

Clay

 

I’ll offer a slightly different view.

 

Any age is the right age. I worked to 76. The decision has to be yours alone, if you are surrounded by many others when working then you may feel isolated to depart that way of life, but you will likely have to at aged 65. It also depends on what your occupation is? Do you like your occupation; I did, for it was a simple manual job and exactly what I chose to do for all of my days.

 

My view is first decide how long you aim to live. When very young it was obvious to me that old people had the best of life I therefore decided to live to 120, and worked full time up to the age of 76 which I calculated was a fair number considering the remainder still to run.

 

I bought our first M/H five years ago after hiring one several times previously. Of the future its great, enjoy it whatever age you decide to free yourself from the shackles of work. There are so many things still to do in life.

 

Bill

 

[Philjp]

Yes its all about balance. If you believe you can manage with out any work . My mind was made up years ago. A friends father died at his retirment do. My my mother died on her 60th birthaday My wifes father died 6months after retirment... so i did finsh as soon as i was able to Bought a motorhome and now its Dad when are you going to be home?Why?. well i need to fix a date to get married. so when will you be home?!!!!!!!

[602]

Hi,

 

I retired at 45 (now 70) on a small pension. Wonderful existance, self-built house, bred horses, rebuilt old cars. But my wife had a good job. She eventually retired, and suddenly I had no time to do anything .....she wanted to go shopping and things. :'(

 

Just work out how much it costs you to just GO to work. Travelling expenses, sandwiches or eating out, dressing to impress your colleagues. It doesn't come cheap.

 

Our joint household income is a bit over £20,000, a lot less than when Barbara working. But we have never had so much money, she reckons that if push came to shove, we could save £1000 a month. Instead, we have had a canal boat, campervan (both recently sold), still got the caravan and three cars, our cottage in France is now for sale but we have other plans for that money. And still she pumps hundreds of pounds into the savings every month.

 

The thing you must avoid is paying interest. You work hard to earn money to enjoy. If you pay interest, you work .... and the bank enjoys the proceeds. Smoking, drinking and gambling make more sense than that!

 

602

[clay]

thanks all for that good advice, it is not about money i have no mortgage, have just sold my pension and have enough put away to see us through, the truth is that i , after a disagreement with the management finished work 4 years ago, not intending to go back but after 3 months started climbing the wall with nothing to do but trail behind the wife in tescos with all the other oldies so when my boss phoned me up to build bridges i jumped at the chance to go back, now things have changed as i have a real interest in life so i think that over the rest of this season i will consider my options but i really cannot see myself there at xmas. again thanks and i think all that posative advice will help me decide :->

[Clive]

Who was it who said "I spent lots on boozing, gambling and sex - and the rest I just wasted".

 

 

C.

 

[Tomo3090]

I was in the fire service and because I joined at 18 I could retire at 50 instead of working to the grand old age of 55! Ann took redundancy 3 months later and we were living a nice cushy lifestyle spending time with each other. Within 5 months we made the mistake of buying a van.

 

Mistake? I hear you say! Well yes, because we bloomin' love it! Consequently, I have had to start working 3 days a week to allow us to save up to use the van to go away in! I do a HGV driving job, and the incentive is the fact it's paying for the fuel for the van. The downside is when I'm driving along the highways I pass loads of people out in their vans, and they ALL have that self satisfied smug look that says " Look at us, suckers!" The people I feel most jealous of are those in Cheyenne 660s' I REALLY hate those! It is of course pure unadulterated envy and I'm sorry, but there's nothing I can do to stop it, except get away in OUR van and drive round with the same self satisfied smug look! :-D

 

So if, as you are driving along in your pride & joy with your partner at your side, with your little friendly waves to each other as you pass another van and you see a lorry driver scowling and cursing at you, you know who it is! :'(

 

But I would say that if you can retire, and enjoy your life NOW! This isn't a rehearsal, it's the real show!

[breakaleg]

I was going to retire when I was 50, as i lost both my parents when they were in their Earlie 50's.

 

But, when i was 45, i had a motorcycle accident, and couldn't have gone back to my job of 27 years, so i took early retirement at 47, 53 now, still get a fair bit of pain in my leg, but so happy to be retired.

Pete

[trickydicky]

hi, we both retired in our early fifties, just 2 years ago, because we didn't want to leave it until it was too late or we were to old to enjoy ourselves.we went out and bought a brand new motorhome last year and decided that we were going to spent months travelling europe and visiting all the places here we have never got around to seeing.........then disaster struck. i got breast cancer, have since had two ops,am currently having chemo and my hair's coming out in handfuls.on the day i came out of hospital my husband was mowing the lawn,slipped, and put his spine out.he is now hobbling around on crutches, which just goes to show it's never to early to retire.luckily we have age and general health on our side and are still able to spend a few days here and there in our m/h whilst we are recovery, but, we are just waiting for the time when we will be able to fulfil our original dreams and we will certainly make up for lost time.go for clay,you never know whats round the corner.

[Brian Kirby]

The motorhome should provide sufficient interest for a fair few years, once you're free to use it as you choose.

So, if that solves your retirement project - travelling wherever the mood takes you - consider the boring bit, which is whether you can afford to indulge in it.

Vans are expensive, and don't last for ever, so replacement at some time is probable - and expensive!  They are prone to need fairly costly maintenance and repair, and have a habit of hitting you when you least expect it - so a motorcaravan slush fund is desirable.

Running vans will, inevitably, become more and more expensive, as fuel taxes, and road taxes, emissions free zones, and insurances are all liable to increase in cost beyond inflation.  Allow, insofar as you can, for this.

I happen to think that it will become increasingly the case that, as the numbers of vans on the road increases - as it does year on year - the opportunities for free camping will diminish, and it will become increasingly necessary to allow for the cost of campsites in planning trip costs.  I also think site charges will tend to rise above inflation, so this too, needs factoring in.

Home energy costs will also rise faster than inflation, so there's another future cost to plan for.

There is then that little matter of your retirement income: is it adequate, is it secure, will it keep up with inflation and other costs?

An unused motorhome deteriorates faster than a used one, but a motorhome that is unused because you can't afford to use it is liable, in my opinion, to become merely a source of worry and dissatisfaction, instead of being your magic carpet.

If after a sober consideration of the above, and doubtless other factors that are specific to your circumstances, the answer is that you can afford it now, and your future income looks sufficient to sustain your future travel ambitions, retire now.  However, for most of us retirement is pretty much an irreversible decision so, if you can't yet afford it, plan to save as fast as you can to boost your reserves, and in the meantime start working on planning the trips you will make as soon as you are free.  In the meantime, make whatever use you can of your van without putting too large a dent in your savings plan.

It ain't about boredom, and it ain't about how you feel.  Purely and simply, it is about whether you can afford to what you want to do, for as long as you continue wanting to do it.  If you get that bit wrong, boring as it is, you are liable to end up regretting your decision to retire that bit earlier.  Get it right, and the world is your oyster.

[Tomo3090]

Some nicely thought out points there Brian! It's true that in the rush to by into this dream sometimes we do tend to forget all the mundane issues like finacing the gig! Thing is though by then it's too late and we realise it's what we've always wanted to be doing.

 

I've also found that if I work more than three days I get "work related stress" because it's getting in the way of me doing stuff I want to do!

[rolandrat]

nobody has mentioned the dreaded TAX MAN.

[Syd]

We have a very small business and a very loyal and honest manager, so we, in effect, "retired" many years ago leaving the business in the hands of the manager while retaining our financial transactions.

We have the best of both worlds now. A sort of overseas working retirement, I'm over there scouting for business oportunities I tell myself :D

We normally take two, three month breaks a year, usually in Spain but this September 3rd we are touring Germany etc and we intend to do a lot more touring in the following years.

[Clive]

If I were skint (again) I would trade in the car for a reasonable used panel van, blag whatever I could from the local caravan outlets who take non saleable caravans as part exchange from customers going up market and make my own motorhome (again), Also visit and Beaulier boat jumble for bits. Purchase some ply wood from the local Jewsons and get on with it.

 

 

I would only give up motorhomes when both me and the Mrs cannot drive.

 

But as long as the pension keeps comming in and we have our health and we can enjoy the "our fantastic toys" then wheeeeyy!!

 

C.