work, that is.

started work in 1981, worked ever since. never claimed anything in my life.
so started thinking of late, with my health and well being, if i work until retirement age, i am probably going to be too fubar to enjoy any old age retirement.
so i am seriously thinking about jacking in work. no mortgage, no debt except a car, which can be paid off.
house can be sold and we can move into a smaller 2 bed house, more suitable to 2 people. would give us 50k or so to bank.

so, jack in work now, go on the pancrack once i am allowed, live a meager life, with more time to travel (by bike) while we a still healthy enough to do so.
and come retirement age in 17 or so years, draw my old age pension like normal.

Or jack it in and keep the wife working? 😉

Have you kids, if not then plan on drawing down whatever equity you have in the house/pensions etc over a suitable period.

What about working part-time?

The other thing ….frequently.
Work;I’ve tried a few times (and currently) but I eventually get hungry and cold and have to do some more.

You can try.

I find/found it too difficult not to have any work. Not from a money point of view but the involvement, incentive and interest.

I’ve found a job I really enjoy and that gives me some part time summer work and some pocket money (though 100% of my wages currently go into a pension).

Could be a good compromise?

Aye, me too Ton. I’m 51 next year, worked all my life, no kids, fit and healthy for now.

Every year I say “next year I’ll make some big changes” but I tend to procrastination and just crack on grafting for another year.

Current plan involves motorhome and renting out property while I gad about the continent, if Brexshit doesn’t fubar that idea!

I say go for it; there’s no pockets in a shroud and yr kids can always find their own way.

Scotroutes makes a good point, retirement isn’t always easy to deal with. Maybe cut yr hours down at work to begin with.

worked since 1978, think every day, when the alarm goes off at 5 am, Sod it !
Being a Postman with an arthritic knee is not fun.

Yes and also what scotroutes says. At soon to be 45 ive not only been 24 years in the same career but have 20 years more work to go, its depressing. As per my other thread i couldnt tell you what i want to do next but im struggling with coporste sales pressure times. Im quite envious of people thatve found a job theyve enjoyed, id like to find one.

56 in a few weeks and can’t wait until I retire – I might go sooner than 60 but certainly not later. I probably will keep up a little bank nursing work as my pension will be small but I would never work again otherwise. Too many things I want to do

Yes, we walked out of our jobs a few years ago. The job situation went a bit downhill and we worked out that we had saved enough to support ourselves adequately. We decided there was no point ploughing on just banking more than we would ever spend without enjoying ourselves. Still working part time as a hobbyist just for interest now (no pay). Life is good.

Funnily enough, the guy i replaced when i started at my current place did (almost) exactly that. Packed in at 52, sold the family home, spent a fair chunk of the proceeds and the summer getting the summer house up to scratch (not as grand as it sounds, a simple 50sqm wooden built single storey place in the woods cost about £5-7000 when he bought it, would still only cost £50k now!) then got some part time work on the help desk at the local DIY/builders merchants.

He’s just retired properly last summer at 66. And used his remaining savings and his pension lump sum to buy a small flat in town (for when he and his wife can’t deal with living in the woods.) And now he has three pensions. State, proper company and his part time one.

Plus what ever his wife has (she retired shortly after him, after he’d finished doing the summer house up.)

Postman still get up at 5am REALLY!!!!

not in my neck of the woods 7am at the moment moving to 10.12am in 2 weeks 🙁

Trying to make the best of my remaining time, mid50s and working less hours
Not particularly effective as my employer often rotas me shorter shifts over the same number of days so the time freed is minimised.
Money is tight but living on less has turned out to mean being more thoughtful about spending and has actually been more rewarding than buying luxuries

Similar thoughts although I’m lucky work is quite flexible so I mostly enjoy it and have seen too many people who stop work unravel.

I do however think I have maybe 20 good years left(if I’m lucky) I will be doing what I like with em not what someone else tells me.

Worked part time most of my adult life – 35 now. Get decent pay for what I do (web/comms stuff for charities) and have lots of time to myself to do things (cooking, doing DIY, cycling) that save me money. No new car or anything, but I’ve got an old MX5.
Plus, working for charities means I’m doing some good in the world (at least, not any bad)

Saying that, getting bored of the desk/office so hopefully going to uni in September to study brewing and distilling. Plan is to get work for a couple of years with a commercial brewers then set up my own microbrewery.

No kids though, innit

Yes, i think about it all the time. Still potentially got 10+yrs left on mortgage, and 32 years until i’m due to retire, but even another 5 years seems like forever.
Like Kryton, very envious of people that have found a job they genuinely love doing.

Part time is the solution I think. At least you phase the big decision and any crunch time and it allows you time and space to get the next plan into action. I don’t think not working as a working age adult is a good idea, work in general brings much more than just a paycheck (unless you absolutely hate it obviously).

From memory I think there is a really good relationship between being unemployed and poor mental health, but that’s perhaps related to money problems?

My wife and I could downsize and retire now if we really wanted to (and were prepared to live with some compromises) and some days it’s a struggle not to. I suspect I’m possibly we’re one work incident away from saying “**** it” and packing it in!

So how much would you need per year to retire happily?

Let’s say no mortgage, no other debts to service or people to look after financially.

I changed from being a service engineer to a self employed gardener, I decided to do something that i enjoy, make more money doing and as i grow older I can just ease the hours back to suit.

One of my clients in his 50’s sold his business and basically gave up work, does what he likes when he likes and just does stuff helping charities.

Had enough here, turned 50 last Monday, 25 years same job last December, worked since I left school in 83′ never stopped.

Put in for early retirement 4 months ago and start properly back on the trowel end of March, with the aim to drop down to two weeks work a month from this time next year. Travelling and hobbies to take up slack, which means getting properly back on the bike which divorce knocked the incentive out of! We only have one shot at it so I intend to make the most of my health before old age really kicks in…

MUTDz

The trouble is with jobs you love is that generally, other people would love them too- keeping wages nicely suppressed.
Which means you have to keep doing them whether you still want to or not 😀
I literally have no idea how I’m going to ever save enough money for a normal retirement let alone an extended one!

If you can afford it, do it!

I have a whole team of retired folk who come and help me out one day a week all spring and summer and one guy who would come every day if I let him. They seem to find it really rewarding and just love being active and useful I think. Work isn’t all about the money perhaps…..

I’m cutting my hours back.

Over the past 2 years it’s been none stop with more customers than any of us can handle. It’s been good money wise, but it’s getting to me now.

Averaging 10 hour days 5 days a week and a 6 hour at the weekend. Doesn’t sound too bad, but if I had a break it would easily add and hour to each day. Eating quickly between clients, not having chance to go to the loo is getting too much now and I just can’t spend anymore time away from home.

Just gonna knock it back 10 hours or so. It will still give me enough income, but also time to have a quick bike ride either morning or evening.

How will you afford all the bike changes?!?

But be careful. Too many people retire early and drop dead soon after.

Keep busy whatever you decide

I stopped working in June 2009 aged 48. After 11 weeks bike touring, odd jobs round the house, a bit of hillwalking etc it got a bit boring. I started working part time in Feb 2010 and have continued. For me working part time means days off are days off rather than just running into each other.

Currently work every Mon/Tue roughly 10hrs each day. Also do a 2nd part time job doing random shifts which I am offered but can take or leave. Works for me. My Mon/Tue job has given me holidays and unpaid leave as required for a couple of long bike tours. But if they had said no I’d have chucked the job and gone anyway.

So I would suggest the OP considers part time working in combination with downsizing. Obviously depends on employer agreement and the job being suitable.

I did 2 years ago after 30 years of working for the man. I wanted to go for some time before but strung it out as a redundancy package loomed. It was weird pretending to be upset about my job finishing and going through the redundancy process but secretly thinking just get on with it & give me the money and I’ll be off no problem. Best thing that ever happened to me. So good to be away from all the office politics/bullshit, boring meetings that were spoiling a job I once loved.

Kids big now and look after themselves, just work for myself as and when doing all sorts of things – luckily I already had a sideline hobby which earnt a bit of money, I stepped this up now to keep some cash coming in before the private & state pensions kick in (a good few years away yet), I work on a community project part-time plus Mrs loves her job so no issues there. The redundancy package wasn’t massive but a helpful cushion, things would have undoubtedly been tougher without it, but we have just learnt to live within our means. Some cut backs but nothing drastic or anything I really miss. Never been busier though doing things I like doing, no idea how I had time to work for someone else before.

I dont think i would ever want to do nothing. My little dream would be gardening, pick all the easy lawn cutting jobs in nice houses with tea making owners, flexible on time so i would not have to rush anywhere.

Or an allotment with a shed i could cycle to along a towpath or riverside walk.

Sadly the places i would like to buy in everyone else does too so they are v pricey.

Daily. A mate of mine’s dad worked like a Trojan in the oil industry (executive position) so that he could retire at 65.

He retired with a shed load of money and a new yacht waiting in the Caribbean. Dropped dead a week before flying out from Aberdeen.

Don’t **** about – Do it while you still can.

There are just so many things I want to do that can’t be done until I retire. We will not be well off at all but we will have the time to do things cheaply

the plan is to rent the flat out 6 months of the year as holiday lets and spend that six months travelling then back to blighty for a bit of rest and recovery when I’ll do a bit of part time work. I am lucky I will be able to do bank nursing work which is relatively well paid.

On the list are:
a 20 000ft mountain in Bolivia to be soloed along with a long trek across the altiplano plus a bit of patagonia trekking
Cape wrath trail walking ( probably done first as training for the above)
Road trip in the antipodes to visit family and friends out there
Cycle up the Rhine and down the Danube with excursions into Bohemia and Transylvania
Plus some other ideas still much vaguer. I can’t wait to stop working! Mind you if work for me and t’missus continues as it is we will soon be both out with illhealth from stress

Definitely think about part time. Worked full time from ’87 till last year, then swapped roles with MrsMC when she went back full time. Lots of time with the kids, a bit more time for me, still enough money coming in.

Couple of years the youngest will start secondary and I will look to do a few more hours

We always said that if kids didn’t happen we’d both go part time, life’s too short.

Ya gonna need this..

And this..

And this..

And finally, this ..

For various reasons which I won’t go into here – yes, a lot…

Lots of equity in house which would buy a small place almost outright, allow us both to work just a few days a week.

Very tempted.

I worked for 33 years until I was made redundant last October as the office was closing. Took the redundancy, my lump sum & also took my works pension early at age 55.

I’m almost 8 years in remission from Cancer & this type of thing concentrates the mind as to what is important in life, I decided that I would have a stress free retirement & do not intend at present to get another job.

I’m currently on just below half pay but my pension covers the running cost of the house & food. It is easy to find cost cutting measures to ensure that you don’t waste money, plus I now have a 7 day weekend in which to enjoy riding my bike, I can even pick & choose which day(s) to go riding rather than having to go out on Saturday or Sunday.

To coin a phrase life is too short & we need to make the most of our time here. If you can afford it then go for it, we are a long time dead 🙂

47 and doing what averages out as a 3 day week over the year. All winter off (skiing) plus a month and a half off in the summer over 2 or 3 trips. Retirement in the conventional sense looked increasingly unlikely until well into late 60’s and early 70’s so I just thought sod this, i’m doing it now as best I can, while I can.

I enjoy working more now than ever, I do need to work financially but also for routine. And it means the time off is properly spent and enjoyed.

I accept that i am always going to be poor, but i reckon I could keep trundling on like this. Life is great.

Hopefully we’ve got about 5 years left to pay for the house. Once that’s done I’m going to drop to a 4 day week if I can persuade Mrs PP to do the same, then I can spend my time with her and still have more money spare than we do now. I can see the light at the end of the tunnel

Yes. Constantly wonder what the bloody point of the daily grind is. Work 5 days, 2 days off to squeeze in some decent time on bike, with kid, jobs around the house, whatever, then back to the 5 days working before you know it.
Hopefully, come the longer days of summer the feeling will lift slightly.

I’m 38, plan on being retired at 50. I have my fixed bills down to sub £300 a month and started putting away £1k a month into my retirement fund (in addition to work pension). Won’t be a plush retirement but got to be better than working till 70.

I’ve already got this:

Mortgage on main house is paid off and have the cash to pay off the London flat as well. Talk about packing it in and doing a couple of years in the motorhome or buying a house in Gairloch/Poolewe are almost a daily occurence. If we didn’t still have a kid at university I suspect we might have done it by now.

2009 , 26 years as a postie , had health issues RM were looking for volunteers for redundancy . I was 53 after a hell of a lot of deep thinking wife and I decided as long as I could get a part time job we’d manage . Thing is I’m now over half way through the 12 years to state pension and I’m wondering where the hell the time has gone ! Now working 3 days a week which gives me a week off every other week which is an ideal way to start adjusting to full retirement . Oh and my health has improved as well