Retirement like to see your opinions

[Tuerto]

Re: Retirement like to see your opinions

Interesting thread, lots of insight and experience, which has unfortunately just added to my current existential crisis lol.

I seem to have the opposite problem, I finished education and went travelling for 4 years, working abroad and doing 'seasonal jobs', was great and glad I did it.

Only problem now is I am 28 been living at home last 2 years and have no idea what to do for work. Currently working for the council but it is a temp contract ending soon.

I really want a career, but no idea what to do, I like the idea of being self employed thought about committing to a trade, such as a sparky but can not decide if it is right for me.

I currently have an application in process for the RAF which is an exciting opportunity, but also worried about going in at entry level on 17k a year at my age.

It is horrible not knowing what to do, and even stuff I do fancy (applied for trainee train driver) I did not get!

I only have experience in construction, trade etc. There's a massive shortage of young people coming through, i mean huge. At 28, you're still young! There's so much work out there it's unbelievable and you can earn fantastic money. A self employed spark can net 40 grand a year easy. The downside with self employment is that you don't have any of the benefits of being employed like holiday pay, sick pay, work pension etc. You've got to be smart with your money and bang the prices in. The demand is massively outstripping the supply and i can't see that changing any time soon.

[Taunton Blue Genie]

Re: Retirement like to see your opinions

Interesting thread, lots of insight and experience, which has unfortunately just added to my current existential crisis lol.

I seem to have the opposite problem, I finished education and went travelling for 4 years, working abroad and doing 'seasonal jobs', was great and glad I did it.

Only problem now is I am 28 been living at home last 2 years and have no idea what to do for work. Currently working for the council but it is a temp contract ending soon.

I really want a career, but no idea what to do, I like the idea of being self employed thought about committing to a trade, such as a sparky but can not decide if it is right for me.

I currently have an application in process for the RAF which is an exciting opportunity, but also worried about going in at entry level on 17k a year at my age.

It is horrible not knowing what to do, and even stuff I do fancy (applied for trainee train driver) I did not get!

First and foremost think of a profession that interests you and whilch will not be something easily taken over by AI.

[blue matt]

Re: Retirement like to see your opinions

Interesting thread, lots of insight and experience, which has unfortunately just added to my current existential crisis lol.

I seem to have the opposite problem, I finished education and went travelling for 4 years, working abroad and doing 'seasonal jobs', was great and glad I did it.

Only problem now is I am 28 been living at home last 2 years and have no idea what to do for work. Currently working for the council but it is a temp contract ending soon.

I really want a career, but no idea what to do, I like the idea of being self employed thought about committing to a trade, such as a sparky but can not decide if it is right for me.

I currently have an application in process for the RAF which is an exciting opportunity, but also worried about going in at entry level on 17k a year at my age.

It is horrible not knowing what to do, and even stuff I do fancy (applied for trainee train driver) I did not get!

If I had my time again in the building game, I would be a Sparky or Gas engineer, both currently massively in demand and earning top whack money, the plus point of both of them working self employed you can pick and choose jobs

[Tuerto]

Re: Retirement like to see your opinions

If I had my time again in the building game, I would be a Sparky or Gas engineer, both currently massively in demand and earning top whack money, the plus point of both of them working self employed you can pick and choose jobs

:thumbup:

[IanD]

Re: Retirement like to see your opinions

Entry level 17k a year with a solid job and pension etc, you won't get that on a 3 year apprenticeship to be a plumber etc..

Seeing as you have waited some time already before making a career choice, I'm sure a year or 2 longer on "not such great wages" won't matter in the long term :thumbup:

I wish I had been brave enough at nearly 30 to go down the apprenticeship route, or night school etc..but with a daughter dependant on me it wasn't an option. Doesn't matter how long you take to get there, as long as you get there. You're only racing yourself :thumbup:

Plus loads of opportunities to get involved in all sorts of sports/adventurous stuff either free or at low cost. I've taken careers type visits round Brize a few times and been very impressed with the staff and sense of comradeship that services like the RAF provide. Such a variety of career paths/trades available, too. Yes you could earn more self-employed in a trade. What would your memories be in later life though?

[Brian]

Re: Retirement like to see your opinions

As an IFA specialising in retirement planning and advice I can assure you that you're not alone in feeling like this.

Having something to 'retire to' is as important as having something to 'retire from. Many people struggle emotionally with the loss of status and moving from 'I'm Des ... the XYX' to 'I'm Des, I'm retired' - society has a way of making us feel that being retired we have nothing to contribute.

A great option for many which works really well is reducing hours, not sure if it's an option for you, but it gives people a chance to build their identity outside work, which still keeping the routine and status. I personally love the idea of a 3 day week as it seems the ideal tipping point of a non-work week being longer than a working week ... imagine that Friday feeling every third day!

I run retirement courses for university staff, with a big part of this focusing on the emotional aspect.

A good strategy is to plan your ideal week, and what it will consist of; there are loads of options from voluntary work, family, travelling, DIY ... it's a cliche, but if I had a pound for each time I hear 'I don't know how I managed to fit in time to work' then I'd have lots of pounds!!

I've actually built a 'Retirement Scorecard' that you may find helpful. It's a tool which people tell us helps clarify their thinking around retirement and how ready they are, financially and emotionally - it 'scores' you in several aspects of planning for retirement and you receive a personalised report which will have a series of specific tips and actions based on your score in each area.

Feel free to take a look ... it should take a few minutes and we've had great feedback since launching it for our pre-retirement courses earlier this year...

https://confidentretirement.scoreapp.com

Thanks for posting this - I had a go and scored 56% and the comments were as I expected - I'm undecided and confused, but some good advice at the end and it was worthwhile. I think I need a counsellor as much as a financial adviser :hehe:

[Jimmy the Jock]

Re: Retirement like to see your opinions

Thanks for posting this - I had a go and scored 56% and the comments were as I expected - I'm undecided and confused, but some good advice at the end and it was worthwhile. I think I need a counsellor as much as a financial adviser :hehe:

That was quite interesting . It made me realise .
I really need to sort my affairs out , other than that I am ok :thumbup:
Anyone on here do wills that can incorporate a limited company? Apparently its complicated.

[Taunton Blue Genie]

Re: Retirement like to see your opinions

That was quite interesting . It made me realise .
I really need to sort my affairs out , other than that I am ok :thumbup:
Anyone on here do wills that can incorporate a limited company? Apparently its complicated.

Just leave everything to me, Jimmy. You know it makes sense :-)

[Jimmy the Jock]

Re: Retirement like to see your opinions

Just leave everything to me, Jimmy. You know it makes sense :-)

Sorting the wills ...

Oh the estate..:hehe:

[Taunton Blue Genie]

Re: Retirement like to see your opinions

Thanks for posting this - I had a go and scored 56% and the comments were as I expected - I'm undecided and confused, but some good advice at the end and it was worthwhile. I think I need a counsellor as much as a financial adviser :hehe:

Don't overthink it. If you have a number of interests you will be fine. The only problem is that you will spend more time on here between bouts of pleasure in real life :-)

[Brian]

Re: Retirement like to see your opinions

That was quite interesting . It made me realise .
I really need to sort my affairs out , other than that I am ok :thumbup:
Anyone on here do wills that can incorporate a limited company? Apparently its complicated.

My estate is fairly straightforward - one marriage etc, no limited company, but I do have young children and when we sat down with a will solicitor it really made us think about the various scenarios that could happen. We did one and I still feel relieved I've got something in writing and appointed executors from my wifes and my side of the family.

I'm an executor in my cousins estate and it's been a nightmare (16 months and counting) trying to unravel everything.

[Brian]

Re: Retirement like to see your opinions

Don't overthink it. If you have a number of interests you will be fine. The only problem is that you will spend more time on here between bouts of pleasure in real life :-)

You are quite right, struggling a bit to give up a successful business I've spent 25 years building up.