Topic: Retirement.....what age for you ?

[Matt S]

You haven't really thought this out properly have you?

As you're going in cahoot's with the cat, do you really think you'll find enough to be able to feed 2 mouths?

Hmm, might need to re-think. Maybe I'll do a course to learn how to catch pheasant & deer. Or I could live off road kill 

[wickolfc]

Your dad is 26?

Yeah, he was 8 when he had me, the dirty bastard.

[Cusamano]

I plan to make a mint and retire before I am 35.

I will then spend the rest of my life fishing on one of the Islands in the Indian ocean.

If that plan fails I will prob retire at 50.

[fowlermagic]

Have not a clue really as my plans to kick up at 50 have gone backwards since 2001. The main nest egg, the house, has lost 30% of its value the past 2 years and even if the economy kicks up again I doubt if its value high (2005 or so) will hit the same figures by 2015, basically that may have fecked up my plans for quite a few years (sell the place, put 150k -200k in the bank, semiretire to any old shyte hold in central America, Caribbean where I can work away in the golf industry).

Cheers to the baby boom generation for milking the 80s & 90s. The cow is looking a wee dry but hopefully times will change in the next 4 - 8 years. Its all part of a cycle anyway I guess.

[nidgemo]

The crazy house price rises put paid to my early retirement plans, I fear...

Had always intended to buy a house every 5 years to let, and then sell the lot at 50 / 55.

House prices then went fucking bonkers for 5 years (particularly in comparison to wages) so, where I could have afforded to own two or three by now had they rose at a normal level, I can't afford to buy, upkeep or pay the surplus from a normal rental value now.

Still, I'm not bothering about a pension. They could well be worth fuck all in thefuture anyway, and I pay about £1000 to the government every month anyway, so they can fucking well look after me when I'm old.

[fowlermagic]

Here in good old USA you basically have to save your own pension but anyone in their 30s probably has seen annual growths in their funds go from 10% plus to squat the past few years. or worse. My mate just saw his funds lose 40% of their value since 2006....god awful.

Not going to bitch that much as things will pan out over time I hope. The job if all goes well may double my income in 2 - 3 years once profit sharing kicks in a little better. Work from home so may just pack by bags and move to a spot near the Gulf where rent is miniable ..tired of paying a $2000 a month mortgage to be honest as it is feckin draining.....and try and put some money in the bank instead.

[rafas red brigade]

12 September 2024....day before my 35th birthday.


that's the idea anyway....optimistic i know.  Been taking business and chinese at uni for a year now.  want a job that would make me enough money to retire early...the thought of working until 2054 makes me want to cry.  but my chinese professor told me last month that one of his old students became a millionaire at 27 and that suits me just fine:)

anyway....still probably wont be able to retire til i'm in my 50's

[Gaz123456]

Realistically about 60

[FlashingBlade]

Funny , every one seems to talk about money , yet the key issue is the longer you work ( and dependent on what you do) your life expectency  trials of dramatically after 60.if you carry on working past this age ( Insurance companies know this and more importnaly so do the pension companies)...or in high stress jobs mid fifties....Doctors , Dentist know they need to pack in before 55 if they want to live past their sixties.

[Elli]

Been to meet my landlord for next year tonight. He's been retired just over 17 years, and he doesn't look a day over 62. He's 74 at least, based on the conversation about driving tests we had.

Clearly, retirement is good for you. Maybe I'll rethink my pension

[hooded claw]

Funny , every one seems to talk about money , yet the key issue is the longer you work ( and dependent on what you do) your life expectency  trials of dramatically after 60.if you carry on working past this age ( Insurance companies know this and more importnaly so do the pension companies)...or in high stress jobs mid fifties....Doctors , Dentist know they need to pack in before 55 if they want to live past their sixties.

There's some saying among teachers that says if you stop at 60, you'll live another 20, and if you go on til 65 you'll be dead in two.

[Marcus6]

I've just had to go over my details for my company, address, DOB etc.

It has my retirement date on it.

I don't retire until 24/7/2052.

How upsetting is that. We'll be in flying cars by then.

How long have you lot got?

[Danny Boys Dad]

2030, but I've got a complex of tunnels on the go called, Tom, Dick and Harry. If they fail then I'm going to try and sneak out disguised as a washerwoman.

[capt k]

 if me numbers come up.. next week....

 if not hopefully only 7-8 more years of paying the house off, and saving a bit to live on..

 to be honest, dont think i could ever fully retire.. always have to do odd jobs, finda  project of some sort to work on..
 im a firm believer in .." the day ya  retire , is the day ya start dying, unless youve got something to do"

[slimshady]

about 25 years so 2034...but at the moment canny see me a) staying about that long or b) retiring as will be too skint having spent the prime of me life wasting cash 



always feel for those retired folk with nowt much to do who always get the bus daily just to "pop to the shops"

[.adam]

I reckon in about forty-five years or so.

Only been working for a year and a half so can't really complain.

[BIGdavalad]

I've just had to go over my details for my company, address, DOB etc.

It has my retirement date on it.

I don't retire until 24/7/2052.

How upsetting is that. We'll be in flying cars by then.

How long have you lot got?

05.10.2021. Day before my 40th birthday.

Although I may be able to extend for up to 15 years if I want (and I qualify).

[BazC]

I'm aiming to retire asap! Hopefully I'll be semi retired by 40. So 2030.

[timiano]

I've just had to go over my details for my company, address, DOB etc.

It has my retirement date on it.

I don't retire until 24/7/2052.

How upsetting is that. We'll be in flying cars by then.

How long have you lot got?

You're far too young to be worrying about shit like that lad. Get back to work/study, whatever it is you kids do.

[Marcus6]

05.10.2021. Day before my 40th birthday.

Although I may be able to extend for up to 15 years if I want (and I qualify).

Only if the terrorists don't get you

[AndoNagasaki]

I'm not going to retire.  It would be shite.

I had a day off a while ago for something and it was one of the most depressing feelings.  People need a purpose.

[red-dragon]

2038 for me, can't come soon enough, with any luck I will be able to get out earlier.

The trick is to retire to something, not from something. Would be nice to be able to have the choice of whether to work or not, would love to take a volunteering job, part time in an animal shelter or something. Not being tied to 8 - 4, five days a week, that's what depresses me.

Have to get saving and then I can retire earlier.

[NotAsBigDanno]

My Dad retires next month and this credit crunch has proper fucked his pension. 

[AndyInVA]

Effectively December 2021 when my warehouse building is paid off.

Maybe earlier if I can stand to pay it earlier.

I'll be 51.

Cant fucking wait.

I can fairly happy doing fuck all, all day, all week, all year.

[Perkins]

That is grim, I reckon i'll die before i'll retire

[BSBW]

I retired for a week last March but now I think I'll aim for another go in nine years time when I'll be 57.

[.adam]

An odd place to ask for some advice on this but it can't hurt.

My wife and I (mid-30s) both earn good salaries and have no plans to have kids. Our plan is to retire as early as possible, perhaps relocating abroad.

Not sure if anyone on here is an IFA or could offer some basic advice on planning for retirement. Is it normal for someone in their 30s to see an IFA or should we just do the basics (like paying the maximum into our pensions and making mortgage overpayments) before seeing someone?

[AndyInVA]

I've always found it really serves you well to sit down with an expert for an hour and just discuss your plans and your options without waiting too long. The trick is of course to find one you trust or feel like you could pay them as a consultant just for their time without them selling you something.

[Dazzer23]

No harm in all at seeing an IFA. (Think I was 25 when I first saw one, so you're not to young!)

I always go to Martin Lewis' website - moneysavingsexpert - as a first point of call for all things financial. It really is excellent and you will find downloadable guides on pensions, investments etc

And for what it's worth, my two penneth, you can't beat pensions as a long term investment, you can't touch it until you're 55 but your employer will often match your contributions and you also get a tax saving on the amount of your contribution.

[rob1966]

My official age is 67, which is 14 years away, so 2034, but way am I working full time that long. We've had the absolute shit scared out of us over the wifes health this week and I want to be stopped by 60 and go part time then and enjoy some life with her and do things I want to do.

[.adam]

No harm in all at seeing an IFA. (Think I was 25 when I first saw one, so you're not to young!)

I always go to Martin Lewis' website - moneysavingsexpert - as a first point of call for all things financial. It really is excellent and you will find downloadable guides on pensions, investments etc

And for what it's worth, my two penneth, you can't beat pensions as a long term investment, you can't touch it until you're 55 but your employer will often match your contributions and you also get a tax saving on the amount of your contribution.

Thanks, mate. I have always maxed my pension contributions. I could just do some with some insight on whether to invest extra cash in AVCs, an ISA, a LISA, paying down my mortgage, etc.

[reddebs]

67 for me but not a chance I'm working till then.  I've not really worked full time for the last 7yrs or so and now I'm picking and choosing what I do and when I do it. 

That will change in the next few months as I embark on the dream of a lifetime job but even so I've told them they'll have 5yrs max out of me before I hand everything back to them.

We're skint as like but as long as the bills are covered we can survive on pennies.

[AndyInVA]

Effectively December 2021 when my warehouse building is paid off.

Maybe earlier if I can stand to pay it earlier.

I'll be 51.

Cant fucking wait.

I can fairly happy doing fuck all, all day, all week, all year.

holy fuck. just read this from 11 years ago.

three months before my kid was born. just turned 50. Cant imagine retiring for quite a while. so much has happened in the last 11 years.

probably would have been able to retire earlier if i worked harder and didnt cruise RAWK all day

[Charlie Adams fried egg]

An odd place to ask for some advice on this but it can't hurt.

My wife and I (mid-30s) both earn good salaries and have no plans to have kids. Our plan is to retire as early as possible, perhaps relocating abroad.

Not sure if anyone on here is an IFA or could offer some basic advice on planning for retirement. Is it normal for someone in their 30s to see an IFA or should we just do the basics (like paying the maximum into our pensions and making mortgage overpayments) before seeing someone?

PM me with any questions if you like mate. I'm involved in this area so happy to provide a steer for a fellow red if it helps.

[Danny Boys Dad]

67 for me but not a chance I'm working till then.  I've not really worked full time for the last 7yrs or so and now I'm picking and choosing what I do and when I do it. 

That will change in the next few months as I embark on the dream of a lifetime job but even so I've told them they'll have 5yrs max out of me before I hand everything back to them.

We're skint as like but as long as the bills are covered we can survive on pennies.

I'm the same but don't tell the boss 

[reddebs]

I'm the same but don't tell the boss 

 

[Oscarmac]

12 years later....still on track to retire at 56. Another 12 years and i'll nearly be there.