Retirement like to see your opinions

[dembethewarrior]

You can’t buy time Des.

You also can't flick a switch and stop working all of a sudden.

Not coming in hot for an argument here btw.. my uncle was the same as Des he retired a year or so ago after painting the house and doing a million odd jobs and walking 10 plus miles a day he found himself back working after 2 months, although part time on an ad hoc basis he swears to this day he would much rather be working full time than semi retired.

Is there a way you can balance work hours with more time for the family?

[Jimmy the Jock]

No-one has factored in how quality of life can deteriorate with age.
I'm 76, there is no history of dementia or other brain problems in my family. I am fit and able to garden, cycle and walk energetically.
However, last year I had a brain scan and the consultant said he found evidence of brain degeneration which was typical in older people. It is certainly not bad enough to stop me driving for example but now that I am aware of this creeping on, there is a concern not just of dying, but of what later years will bring. I want to write another book. It will require a lot of research and work. Will I be able to finish this?
So, my suggestion is, if you can retire from a financial point of view, even before 65 (or whatever) DO IT.
You owe it to yourself and your loved ones to make the most of those golden years while you can. It isn't just dying that may be the future problem.
So now I fill my days with an enjoyable and deliberate mix of brain activity (research, writing, playing a musical instrument) and physical exertion for at least an hour a day, not to mention a full life with my family.

It was a massive part of me making my decision. I know I am in the final furlong . I hope to stay fit enough to get 10 good years
travelling . But there is no guarantees .

[SOXY BOY]

A friend of mine also retired from the Fire Service but at 55, 10 years ago and he’s still working full time for a training company. Difference is though he still enjoys working as his job involves travelling around the UK, which he’s always enjoyed.

[RichardM]

I retired the day before my 60th birthday in May and enjoyed a long holiday over the summer and autumn. I have recently started a part time job, 16 hours a week, and volunteering one day a week.
We'll see how it goes.
We had lots of weekends away over the summer, but my mother-in-law had dementia and can't cope with us being away for more than a night or two, so any long trips will have to wait until she pops her clogs, but I quite fancy a few months in a camper van in NZ or Oz, or both.

[blue matt]

but I quite fancy a few months in a camper van

I think someone on here had a T4 for Sale, might interest you

[RichardM]

I think someone on here had a T4 for Sale, might interest you

[Tuerto]

She has two. In property development and in finance. Try again

They're not jobs, other people do the work for you

[SLUDGE FACTORY]

Friend of mine retired out of the Fire Service at 50 on final salary pension.
He is working harder now than he ever did doing fire safety for a housing company .
He doesn't need the money , he isn't enjoying it , I don't get it.

Women

[chris lee]

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!

[dembethewarrior]

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!

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

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

[Tuerto]

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]

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]

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]

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

[IanD]

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

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

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]

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

[Jimmy the Jock]

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

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

[Taunton Blue Genie]

That was quite interesting . It made me realise .
I really need to sort my affairs out , other than that I am ok
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]

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

Sorting the wills ...

Oh the estate..

[Taunton Blue Genie]

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

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]

That was quite interesting . It made me realise .
I really need to sort my affairs out , other than that I am ok
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]

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.