Retirement (8 Viewers)

[Covkid1968#]

Going to do it next August… going to quit my perm job at a local university early 2024 and then do a 6 month contract at a different local university until August then that’s me done.
Anyone else gone earlier than planned and other than watching stressful football what do you do to fill your days. I hate golf but love beer… so slightly concerned I’m going to be queuing outside Spoons with all the other old soaks at 8.30am.

 

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[Terry_dactyl]

Going to do it next August… going to quit my perm job at a local university early 2024 and then do a 6 month contract at a different local university until August then that’s me done.
Anyone else gone earlier than planned and other than watching stressful football what do you do to fill your days. I hate golf but love beer… so slightly concerned I’m going to be queuing outside Spoons with all the other old soaks at 8.30am.

Alas I’m nowhere near, got about 20+ years before I can.
I do though remember the words of an old lecturer I had, who’d come out of retirement to lecture. He said when he initially retired he lasted about a week before he knew it wasn’t for him. He said he realised he’s got to plan properly what he’s going to do with his time. I think lecturing for him was good and I imagine having the freedom to think, “I can quit this shit whenever I like”, takes a load of pressure off working.

 

[Otis]

I "retired" years ago.

I was lucky in many aspects, because I worked for British Coal and when we were all made redundant, as part of the package, we were entitled to pick up our full works pension at 50.

After 3 redundancies, following and then struggling to find any work, I decided to quit for good. So, I took up retirement at the age of 53.

Been a bit of a struggle, because that pension is just about minimum wage per week, but managed to make it work and I did make a bit of money chaperoning my daughter's acting exploits across the country.

I have always, always kept busy and have never been one to ever get bored.

Really looking forwards now to my state pension, when I will be so much better off.

I fill my days writing and until my dad died, my life was also filled with travelling up from Kent twice a week to see him and look after his affairs.

As I say, I don't get bored and I treat every single day like it could be my last.
Felt that way ever since 9/11, where that really hit me hard and I questioned my mortality and my longevity and realised just how fragile and short life can be.

And it's since then that City losing doesn't hurt so much either. I just try and find solace and joy elsewhere, when the Sky Blues aren't doing so well.

Moving to Folkestone in two weeks and am really looking forwards to the new venture and fresh start. Now have a very lovely missus too, which helps enormously.

 

[Covkid1968#]

I "retired" years ago.

I was lucky in many aspects, because I worked for British Coal and when we were all made redundant, as part of the package, we were entitled to pick up our full works pension at 50.

After 3 redundancies, following and then struggling to find any work, I decided to quit for good. So, I took up retirement at the age of 53.

Been a bit of a struggle, because that pension is just about minimum wage per week, but managed to make it work and I did make a bit of money chaperoning my daughter's acting exploits across the country.

I have always, always kept busy and have never been one to ever get bored.

Really looking forwards now to my state pension, when I will be so much better off.

I fill my days writing and until my dad died, my life was also filled with travelling up from Kent twice a week to see him and look after his affairs.

As I say, I don't get bored and I treat every single day like it could be my last.
Felt that way ever since 9/11, where that really hit me hard and I questioned my mortality and my longevity and realised just how fragile and short life can be.

And it's since then that City losing doesn't hurt so much either. I just try and find solace and joy elsewhere, when the Sky Blues aren't doing so well.

Moving to Folkestone in two weeks and am really looking forwards to the new venture and fresh start. Now have a very lovely missus too, which helps enormously.

What a great outlook on life you have Otis. I’m now very much in the wanting to enjoy life and not let it pass you by worrying about the small stuff.. of which football is def one. Sounds like you are entering a new and even happier chapter in your life…. I’m a big believer in Good things happen to good people… so just reading about your Dad and your daughter, it’s well deserved by the sounds of it.

 

[Covkid1968#]

Alas I’m nowhere near, got about 20+ years before I can.
I do though remember the words of an old lecturer I had, who’d come out of retirement to lecture. He said when he initially retired he lasted about a week before he knew it wasn’t for him. He said he realised he’s got to plan properly what he’s going to do with his time. I think lecturing for him was good and I imagine having the freedom to think, “I can quit this shit whenever I like”, takes a load of pressure off working.

Yes planning…I think that might be the key. I’m sort of getting a list which the wife thinks is hilarious because I really don’t plan anything in life.. It’s got some aspirational stuff on there… learn a language (fancy German), pick up the guitar and finally crack it, take a carpentry course and make stuff. All to keep me out that Spoons queue.

 

[Otis]

What a great outlook on life you have Otis. I’m now very much in the wanting to enjoy life and not let it pass you by worrying about the small stuff.. of which football is def one. Sounds like you are entering a new and even happier chapter in your life…. I’m a big believer in Good things happen to good people… so just reading about your Dad and your daughter, it’s well deserved by the sounds of it.

Thank you for the kind words.

Hope your retirement days to come are very happy ones

 

[ovduk78]

I am 62 in 3 weeks and I have a meeting at work this week to discuss going down to 2 days a week. If I don't like the days they come up with, ie I'm not working weekends, then I will retire and will be OK financially until I get state pension. Hopefully I won't get too bored but I'll have my springer to walk, my motorbike and I've started playing golf a lot more. The big worry for me is losing the interaction with lots of people at work, I work in a supermarket and get on really well with lots of work colleagues & I love talking to customers. There will be many positives though. I'd love to buy a campervan and go touring around Europe but my wife is younger and doesn't want to stop working yet.

 

[Sky_Blue_Daz]

My wife wants to retire at 55 so she has 7 years to go , I want to reduce my hours but as I really love my job will still work ( lucky in that respect ) My wife is a nurse and qualified in 1998 so has put her time in .

 

[Covkid1968#]

I am 62 in 3 weeks and I have a meeting at work this week to discuss going down to 2 days a week. If I don't like the days they come up with, ie I'm not working weekends, then I will retire and will be OK financially until I get state pension. Hopefully I won't get too bored but I'll have my springer to walk, my motorbike and I've started playing golf a lot more. The big worry for me is losing the interaction with lots of people at work, I work in a supermarket and get on really well with lots of work colleagues & I love talking to customers. There will be many positives though. I'd love to buy a campervan and go touring around Europe but my wife is younger and doesn't want to stop working yet.

Yes Ive got mates who carry on working for the social interaction. You can’t underestimate that side of things !! Yes I’d get a camper van but the Mrs isn’t up for it… I’ll def take my scooter out more and get on some scooter rallies. Brighton and Scarborough are calling

 

[wingy]

Sounds like the 'Big Quit'is on.
Of course being encouraged or economically nudged back into it from the ranks of already retired and others.
Better keep those boats coming Rishi
and Suella are hoping!
By the way I quit or rather got to required age in march and wouldn't expect to have an extended duration on the Govt.

 

[Otis]

I am well up for the campervan thing too.

Both my missus and I would love to drive around the whole of the UK and further afield.

It must be a sign of getting old, because I have never been interested at all in cruises, but suddenly, I now find the thought quite appealing.

The missus has been and said it was absolutely wonderful, so I am now converted.

Ready for a Derby and Joan around the fjords of Norway.

 

[LastGarrison]

Surprised you’re not milking out that Uni pension for as long as possible!

Having moved into the private sector you realise just how ridiculous those Uni pensions are!!

 

[Otis]

Surprised you’re not milking out that Uni pension for as long as possible!

Having moved into the private sector you realise just how ridiculous those Uni pensions are!!

I know nothing about Uni pensions. Tell me more.

 

[LastGarrison]

I am well up for the campervan thing too.

Both my missus and I would love to drive around the whole of the UK and further afield.

It must be a sign of getting old, because I have never been interested at all in cruises, but suddenly, I now find the thought quite appealing.

The missus has been and said it was absolutely wonderful, so I am now converted.

Ready for a Derby and Joan around the fjords of Norway.

My Missus’ step dad converted one himself basically following videos on YouTube.

He’s done a great job and they’ve been all over the UK in it (The Scotland and Wales 500 etc) and absolutely love it!!

There’s a Facebook group called park in the pub or something like that which advertises different pubs around the country who allow you free parking overnight as long as you have a meal or a few pints and they’ve done a few of them and found them great!

 

[LastGarrison]

I know nothing about Uni pensions. Tell me more.

Covkid is the finance man but pretty sure at Cov, before they privatised it, the uni contributed something like 20% into your pension and you paid in just less than 10%!

You can certainly realise why Uni’s are full of people who have been there for decades because you’re just not getting that sort of pension in the private sector!

Obviously, in the private sector that is offset by higher wages and bonuses but you’re never getting near a pension like that (from my experience)!

 

[Covkid1968#]

Surprised you’re not milking out that Uni pension for as long as possible!

Having moved into the private sector you realise just how ridiculous those Uni pensions are!!

Got 16 years service…. Not sure what it comes out at but you get a bit spanked if you take it early. So it will have a 40% hit so it might just be enough to get by on without being too flashy. Getting the big rounds in down the pub will need to stop!! Daz will have to step in

 

[Covkid1968#]

Got 16 years service…. Not sure what it comes out at but you get a bit spanked if you take it early. So it will have a 40% hit so it might just be enough to get by on without being too flashy. Getting the big rounds in down the pub will need to stop!! Daz will have to step in

Yes Cov…. I was part of the prepping of the new company there to employ people on non LGPS pensions. Just done the same at BCU for the non academic staff. It’s a big difference for any new starter. The old final salary schemes are all but dead these days!!!

 

[OffenhamSkyBlue]

Have less than two years to run on my mortgage, which is more than half my pay packet, so will be looking at reducing hours from age 61 1/2, and am working with my bosses on succession planning, bringing my deputy up to speed. Looking at retiring fully when i hit 64, provided my "ridiculous" university pension keeps going the way i want it to. I've also been very lucky to be earning some royalties from a patent i got a few years ago, so have a private pension from that too.
As for what to do, we do like to travel and Mrs OSB is always coming up with ways to spend money to see new things. The collective pension budget, which she has figured out down to the last penny until we are 100 (i think) has a very healthy pot for travel.
I might get some old wreck of a car to work on as a project to keep me out of 'Spoons and far away from any golf course.

 

[Covkid1968#]

Have less than two years to run on my mortgage, which is more than half my pay packet, so will be looking at reducing hours from age 61 1/2, and am working with my bosses on succession planning, bringing my deputy up to speed. Looking at retiring fully when i hit 64, provided my "ridiculous" university pension keeps going the way i want it to. I've also been very lucky to be earning some royalties from a patent i got a few years ago, so have a private pension from that too.
As for what to do, we do like to travel and Mrs OSB is always coming up with ways to spend money to see new things. The collective pension budget, which she has figured out down to the last penny until we are 100 (i think) has a very healthy pot for travel.
I might get some old wreck of a car to work on as a project to keep me out of 'Spoons and far away from any golf course.

Kick the arse out of that pot until you are late 70’s. The desire to travel just disappears in those later years so get the big stuff done early. I can’t even get my Dad down the local these days and he lived for travelling the world.

 

[OffenhamSkyBlue]

Kick the arse out of that pot until you are late 70’s. The desire to travel just disappears in those later years so get the big stuff done early. I can’t even get my Dad down the local these days and he lived for travelling the world.

Thanks! I think the travel pot switches over to social care costs (which will be supplemented by some kind of equity release) around the 80 mark. Her folks are either side of 80 and are losing the travel bug and ability. UK holidays will be very much the thing for us by then, i'm sure. Good luck with your plans.

 

[LastGarrison]

Yes Cov…. I was part of the prepping of the new company there to employ people on non LGPS pensions. Just done the same at BCU for the non academic staff. It’s a big difference for any new starter. The old final salary schemes are all but dead these days!!!

Boo hiss!!

Did you get a Tesla like the rest of the ULT when they swapped over?

They still haven’t completed the transition and registry is under consultation at the moment. (The Missus is an assistant professor so still get all the inside info).

Pretty sure we were at Cov at the same time and our paths crossed as I was upstairs in the IO.

 

[Grendel]

Didn’t like it at all - went back into work as soon as I could

 

[Covkid1968#]

Boo hiss!!

Did you get a Tesla like the rest of the ULT when they swapped over?

They still haven’t completed the transition and registry is under consultation at the moment. (The Missus is an assistant professor so still get all the inside info).

Pretty sure we were at Cov at the same time and our paths crossed as I was upstairs in the IO.

You there when Juggy was in the IO? He talked me into going in to CWR on a Friday night and be the fan of the week with him!! left in 2016…. Could see the direction of travel when JL became the VC.

 

[Covkid1968#]

Didn’t like it at all - went back into work as soon as I could

I think you have to fill your time Up with stuff that makes you still feel like you are doing something constructive and makes you feel valued. otherwise I guess work starts looking attractive again.

 

[RedSalmon]

Love reading this thread.

Retired a couple of years ago from the NHS, always paid extra contributions into my pension so it worked out pretty good when I did retire. Finacnciallynot a problem and I know I am in a lucky position.

I worried that I would miss the interaction with patientsand fellow workers but the real surprise was that I didn’t, hardly ever think back to what my working life used to be and as my wife often comments in a sarcastic voice “retirement really suits you”.

Always had dogs so they walked a lot more now and I bought myself an old classic car to “tinker“ with as that was always something I had wanted to do. As I sit here tyoing this I realise I have never been happier or more contented with life.

As one old mate said to me when I was pondering wether to retire or not “once you have worked out that you have got enough money to last the rest of your life, why are you still working”? I understand not everyone is in that position but that one comment made my mind up.

 

[Otis]

Didn’t like it at all - went back into work as soon as I could

I bet the new people you worked with didn't like you coming back either.

 

[OffenhamSkyBlue]

Love reading this thread.

Retired a couple of years ago from the NHS, always paid extra contributions into my pension so it worked out pretty good when I did retire. Finacnciallynot a problem and I know I am in a lucky position.

I worried that I would miss the interaction with patientsand fellow workers but the real surprise was that I didn’t, hardly ever think back to what my working life used to be and as my wife often comments in a sarcastic voice “retirement really suits you”.

Always had dogs so they walked a lot more now and I bought myself an old classic car to “tinker“ with as that was always something I had wanted to do. As I sit here tyoing this I realise I have never been happier or more contented with life.

As one old mate said to me when I was pondering wether to retire or not “once you have worked out that you have got enough money to last the rest of your life, why are you still working”? I understand not everyone is in that position but that one comment made my mind up.

My father-in-law's mantra was that the only reason you go to work is to earn enough pension to have an enjoyable retirement.

 

[StrettoBoy]

I'm nearly 69 and hoping to retire when I am 70. I don't enjoy my job but being self-employed I have no pension other than what I have been able to save for myself.

 

[Covkid1968#]

Love reading this thread.

Retired a couple of years ago from the NHS, always paid extra contributions into my pension so it worked out pretty good when I did retire. Finacnciallynot a problem and I know I am in a lucky position.

I worried that I would miss the interaction with patientsand fellow workers but the real surprise was that I didn’t, hardly ever think back to what my working life used to be and as my wife often comments in a sarcastic voice “retirement really suits you”.

Always had dogs so they walked a lot more now and I bought myself an old classic car to “tinker“ with as that was always something I had wanted to do. As I sit here tyoing this I realise I have never been happier or more contented with life.

As one old mate said to me when I was pondering wether to retire or not “once you have worked out that you have got enough money to last the rest of your life, why are you still working”? I understand not everyone is in that position but that one comment made my mind up.

Yes 100%. That’s got to be the question to ask. We all hear of or know those people who grafted all their lives then retired and were dead within a couple of years. The more quality years you can squeeze in the more you know you’ve made the right decision. Seem to have lost a few mates recently and it’s just made me ask that question to the wife… can we afford to do it… and if the answer is yes… then why are we not doing it.

 

[Covkid1968#]

I'm nearly 69 and hoping to retire when I am 70. I don't enjoy my job but being self-employed I have no pension other than what I have been able to save for myself.

My mate was in a similar position…he was lucky to be in a really nice house. he looked at that house he owned and how chuffed he was that he could pass it down. I said to him… why don’t you down size and spend the money on you!! Someone told me that nobody will even remember your name in 3 or 4 generations so live the best life you can. He did just that… his kids were delighted and he gave himself an income from it. I love my kids but I’ve told them im happier giving them some great life experiences whilst im alive rather than a chunk of inheritance when we are gone!!

 

[ovduk78]

Yes 100%. That’s got to be the question to ask. We all hear of or know those people who grafted all their lives then retired and were dead within a couple of years. The more quality years you can squeeze in the more you know you’ve made the right decision. Seem to have lost a few mates recently and it’s just made me ask that question to the wife… can we afford to do it… and if the answer is yes… then why are we not doing it.

We have got a fair bit of savings and have had no mortgage for nearly 20 years. Our son is 18 and stands to inherit a fair bit & I want to work our way through the savings in retirement. I want to move back south but I have yet to totally convince my wife and I know even if we downsize our house size finding something similarly rural for what we have might not be easy. I've just bought a new motorbike so maybe I'm starting to change my mindset & I want to enjoy what we've worked hard for, nothing has ever been given to us, and I don't want to wait until it's too late.

 

[TomRad85]

Didn’t like it at all - went back into work as soon as I could

I'd retire tomorrow tbf. Probably need to wait for the untaxed inheritance unfortunately.

Sent from my SM-G973F using Tapatalk

 

[shmmeee]

Can’t see me ever retiring. Ideally end up with a few consultant/CTO type roles I can work less for more.

 

[Otis]

It's a tough one knowing when to do it isn't it.

It was a gamble for me, because, as I say, it's not a great pension amount each month, but I was determined, that as it was my own choice not to work, I would not try and claim any sort of benefit. And I stuck to that. Never, ever claimed anything.

I obviously lost the house when I divorced, so I now have zero assets, but we had the one daughter and I made my ex promise she would pass down the house to her when she departs this mortal coil. So that's my daughter's inheritance right there.

Hard to get the timing right isn't it.

 

[wingy]

Love reading this thread.

Retired a couple of years ago from the NHS, always paid extra contributions into my pension so it worked out pretty good when I did retire. Finacnciallynot a problem and I know I am in a lucky position.

I worried that I would miss the interaction with patientsand fellow workers but the real surprise was that I didn’t, hardly ever think back to what my working life used to be and as my wife often comments in a sarcastic voice “retirement really suits you”.

Always had dogs so they walked a lot more now and I bought myself an old classic car to “tinker“ with as that was always something I had wanted to do. As I sit here tyoing this I realise I have never been happier or more contented with life.

As one old mate said to me when I was pondering wether to retire or not “once you have worked out that you have got enough money to last the rest of your life, why are you still working”? I understand not everyone is in that position but that one comment made my mind up.

What car is it then?