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  • ‘You can get back money but you can’t get back time’. I love this analogy but have/would you risk taking early retirement to do something you love or want to explore?

    Posted by Christine Twigg
    • Reply by Stirredbutnotshaken

      Not if it meant the quality of life deteriorated. Whilst I adore new experiences, adventures and cultures. I love handbags more.

      • Reply by Christine Twigg

        Love your thinking! I plan to keep my handbags too 👜 😀

    • Reply by adeliza0165

      I would possibly risk early retirement to be able to sell my house for something less, live by the coast and if my daughter is still in Oz i would go over and stay there for long periods of time. I can’t do any of this whilst I’m working and have the job that I have.

    • Reply by Christine Twigg

      That sounds like a lovely idea. Isn’t there any way you could do the same job somewhere else nearer to the coast?

    • Reply by Optimistic

      Yes I would but quite impossible at the moment 😏

      • Reply by Christine Twigg

        Maybe one day 😀

    • Reply by Beanoak

      I think now would be a good time to lower retirement age and give younger people’s employment prospects a boost. I also think it would make sense economically as too much time unemployed makes people unemployable and leads to lifelong dependence on benefits.

      • Reply by Christine Twigg

        My thoughts exactly but I don’t think it will ever happen!

    • Reply by Puffin007

      I’m considering it! I don’t have any handbags!

      • Reply by Christine Twigg

        What’s stopping you?! You can have some of my handbags 🤭

        • Reply by Puffin007

          Think I’d only need one😃 can it be like a rucksack?
          What’s stopping me? Not quite 55 yet, that could do it for me😃

        • Reply by Christine Twigg

          Yes, one giant rucksack would be fine and 55 seems to beca magic number. I’m waiting for it too! 😁

        • Reply by Puffin007

          But, we only have the now of course! So we have to make the most of that 😃👍

    • Reply by GrahamL

      I’ve been toying with this idea for the last year and am thinking along the same lines as yourself – most people die with money in the bank but no time in the bank. Depending on your age (I’m almost 57), would your employer let you reduce your hours so you have a worklife balance? I’m hoping to go down to 4 days a week soon. Another suggestion is ask for an unpaid sabattical for 3-12 months to do lots of long holidays. I’m thinking of doing that when I’m 60 and taking a year out. I also considered leaving and doing occasional temp work but when I looked, I’d be giving up a reasonably good salary and would have to work 5 days to earn what I do in 3 days so that kind of defeats the object. I’m currently banging loads extra into my work pension so that I pay hardly any tax. Good luck with your decision.

      • Reply by Christine Twigg

        Thanks Graham. I’m 52 and plan to hopefully retire at 55 when I can take my private pension early and work no more than two days a week if I have to. Too many people in my family as well as friends have died before retirement so that has made me think too. I looked at my current employer’s pension but it’s not worth me putting in the extra for the return so am just saving normally. It’s such a hard decision but I also believe that if you fail to plan, you plan to fail! Good luck and hope things work out for you too.

    • Reply by John L

      Did it 61 days ago (retirement that is) , best thing ever. Spent 50 years working, with 25 years of those at second job or volunteering, now having ME time.

      🙌

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      • Reply by Christine Twigg

        Wow! 50 years! What do you like the best and do you wish you had done it earlier?

        • Reply by John L

          The best of all is when I relax in the garden with a glass of Malbec and put the bubble machine on😎 It is the simple things! It was the right time for me.

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        • Reply by Christine Twigg

          Sounds perfect! May you enjoy many more hours bubbling away! 😃

    • Reply by Nick Tilling

      I finished last year – a year before my state pension age. House paid for and no kids, so was able to live off my occupational pension. I can thoroughly recommend it.

      As it happens I had to go back to my local government HQ yesterday. I do pro-bono work connected with the LGPS Pensions & Investments Committee – we’ve had virtual meetings over the past 12 months but this was the first real life one to meet all the new elected members. Seeing my old colleagues who work as committee clerks there, they said “You are well, well, well, out of it!”
      I met another former colleague whilst walking home – she said exactly the same thing, but without so many wells – and had plans to finish early next year.

      The important thing is to have plenty of interests to fill your time. At first, it’s great just to chill out and recharge the batteries – but you do need get involved with something that either expands you mind or gets you out and about with other people.

      Over the last 30 years at work I can think of quite a few people whose whole life revolved around work – so on their last Friday they were head of this or that department and then on the following Monday morning they were just another pensioner of no particular importance – which they found very difficult to handle. This is why I think people should phase their last 5 years of work by going 4 days, 3 days, 2 days etc.

      • Reply by Christine Twigg

        Thanks Nick. That is such good advice and glad you are enjoying yourself as you deserve it! I have no kids and paid my mortgage off at 49 then one year later took redundancy and walked straight into another job, albeit it a bit lower paid. It is less pressure and I am working from home now so I see that as a slow transition into retirement as not commuting or working in an office. I have heard so many people ask ‘but what would you do?’ but like anything, you would just have to adapt and change just like at any other stage in life if you wish for it to be successful. I have achieved many things in life but my work doesn’t define me so I am hoping to have a time in life where I can really explore and do what I really want to do and possibly live somewhere that I don’t have to commute from!

      • Reply by John L

        Enjoy! 🙌

    • Reply by VFP

      This is a good question. My late husband had the opportunity to retire from the NHS at 60, but at the last minute accepted the new contract which meant he retired at 65. Sadly, he fell ill soon after and passed away. He had worked non stop his entire career, and any spare moment would read his medical journals. He really wanted to study ornithology, go fly fishing and visit old friends around the UK but didn’t live long enough to do these things. We talked about this and he was philosophical about it. He said that the last ten years of his life – spent with me – were his happiest and he was thankful for that. I suppose the moral of the story is, whatever you decide, make sure your todays are happy ones, because you can’t count on tomorrow.

      • Reply by Christine Twigg

        I am sorry for your loss and I am glad you like the question. I am also motivated to retire early by people not reaching ‘old age’ that I know and my husband, I feel, is living on borrowed time too so I want to retire at 55 when he reaches state retirement age. I just hope it all works out though because as you say you can’t count on tomorrow but you can only plan the best you can in case you are still here.

    • Reply by Fluffy

      great idea , gonna chuck my job in & become a crocodile wrestler 😀

      • Reply by Christine Twigg

        I think you should stick with wrestling ducks! 🙂

        • Reply by Fluffy

          nah that gets me “down” 😀

    • Reply by GillSS

      I did! Almost. We left our jobs a few years prematurely to work in Alpine ski chalets (paid position) and travelled around Canada and Australia helping out on ranches for food and board. Haven’t looked back in 7 years (although Brexit and Covid have been a hiccough) and I have 1 multi-functional handbag. Don’t regret a minute. After working in a hospice for 15 years I know we can’t be sure we will have the future we expect. Just do it 😊

      • Reply by Christine Twigg

        Wow! Gill. I need some of your mojo to motivate me! Are you still travelling or back in the UK now? What was your overarching motivation to ‘just do it’? Where there any things holding you back for a while?

        • Reply by GillSS

          Hi Christine. We are back in the UK and have been since getting ‘chucked out’ of Austrian ski resort in March 2020.
          We did have to delay the initial chapter of our new lifestyle until my partner’s son went to university. Fortunately all 4 parents were alive and well at that time (3 out of 4 have since died but we have managed to be around for their later times despite their whole-hearted support)
          Our motivation was creating our new life together and my hospice experience, which was a distortion of the majority of reality, but salient nonetheless.
          I am a regular person who has been lucky enough to have been presented with, and perhaps fool-hardy enough to grab, opportunities when they arose without thinking too much about what might go wrong!!

        • Reply by Christine Twigg

          I wish you all the luck with your future adventures and hope to find some opportunities too especially relating to Austria as my mum was from there. We have no ties whatsoever to Manchester so would love to explore more!

        • Reply by GillSS

          Hopefully the world will open up again soon, although Britain has plenty of opportunities (www.workaway.info has short/medium breaks to discover and experience different lifestyles)
          I don’t really know Manchester and have never felt drawn there even though I’m just “t’uther side ut Pennines”!
          I wish you pleasure, contentment and many adventures. Don’t wait too long to start living the rest of your life xx

    • Reply by Michael Squire

      Yes and I did! Enjoying it.

    • Reply by Christine Twigg

      Fab! What was your main reason for doing it rather than carrying on earning the money?

    • Reply by SteveM57

      I did five years ago although it wasn’t originally planned to be retirement. I had worked for a number of smaller companies before joining Rolls-Royce in 1985. In 2014 I got the chance of voluntary severance so I left with a decent pay-off and started to draw my occupational pension. I got another job straight away but didn’t get on with my senior manager so I resigned and left Easter 2016. I planned to take a few months off before job hunting but never had the time! Finally I decided to make it official; the house was paid for, the kids were all through Uni so the financial outlay had reduced significantly. My work pension is pretty decent too – I get more than my wife who is a fulltime teaching assistant!

    • Reply by Christine Twigg

      Wow! Sounds like you have done well and enjoying yourself 😀

    • Reply by Shirlann

      I’m ready and happy to take it easy but husband still enjoys being under pressure and working 🙃

    • Reply by Sandyg

      The things I long to do though require money to achieve, therefore I cant afford to retire..(as I have no pension) .vicious circle !

      • Reply by Christine Twigg

        Yes, it’s a difficult one.

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