advertisement


Retirement age of Pink Fishers

51, not yet. Maybe at 60. I could retire if I wanted to, it would mean buying a small place in a cheap area, but I don't want to. I like my work. Odd, I know. If you had said this to me 10 years ago I would have laughed in your face. However a life changing accident at 42 and a lot of time to reflect gives you a different view. It helps that I work for myself and my clients are who I want, when I want, within reason. I recently missed an opportunity to spend 2 months in the USA, I was brassed off when I missed that. Likewise a conversation re France went nowhere. Instead I'm going to a vegetable processor in Lincolnshire for a while. Oh, the glamour. However the gaps in my employment are enough to persuade me that I don't yet want a life of leisure 12 months a year. I don't much enjoy flogging up and down motorways, I certainly don't like hanging around airports on Friday nights, but knowing that it's not for ever makes it tolerable as part of a bigger picture.
 
I’ve just been turned down for VR but can take a defined benefit pension at 60 in just over a year. My mortgage is over and my system is complete as far as I’m concerned but will need a new cartridge before too long and if we move it’s likely I’ll be changing speakers as I’m assuming unboxed NBLs won’t survive too well. Relocation will be driven by my wife who is somewhat younger than me and still has a career that interests her. She’d like to get out of the UK if brexit goes ahead, something I’m not averse to either. Have to hope the pound doesn’t take too much of a hit from it though.
 
Joe, congratulations on doing a degree in your 50s. Did mine when I was young and I don’t think I could do one now. Insufficient concentration and application at my age.
 
graystoke4 said:
still at work, for now, BUT a Question i hear a lot pf people who have retired then work part time, most of them say it's not worth going back to work as the tax-man includes your pension as income, so you pay a lot more tax, a specially if you are taking a state and private pension and go back to work
Click to expand...
graystoke4 said:
so will you get taxed on it when you draw it,, and taxed again as its counted as income,

Pensions Very difficult subject to workout, probably the hardest thing you have to work out in your life, especially nowadays
Click to expand...

Just assume you pay tax on all income over the base allowance, private and state pensions, income from investments and savings. Not on winnings from Ernie though:). Worth owning shares for long term, some risk but better returns, still taxed though, except on capital gains less than £12,000 a year. Over about £45,000 tax jumps to 40%, there are ways of avoiding some taxes e.g. ISA investments, just think it is better to pay taxes than to have an income of less than £12,000 a year when you don't pay any, except for VAT etc, there is no escape!!
 
George J said:
Apparently, I shall retire at 67 in nine and half years time. I'll never live that long. Mind you I started working before and after school in 1969, so do the Maths. I am worn out. Air sixteen I was running a 365 acre farm on my own most of the time. My father was totally useless ... At eighteen [1980] he went bust and I have been in fierce minimum wage manual labour ever since.

With best wishes from George
Click to expand...


I feel for you George. I retire just before my 66th next year but I'll have to carry on working for a few years more. I've worked for myself pretty much all my life doing manual work and never quite made enough to put anything aside. Still I enjoy my work and I'm finally working for a good company that appreciates it's work force. I must say though I'm in wonderment at the number of people here that can retire at fifty odd. Fair play to them.
 
Recently reached pension age but have just picked up a job (contract welder) after being unemployed through the winter. Might get the summer out of it then that's it :)
 
65 and still working full time but may reduce to a 4 day week next year. My wife retired two years ago at 57 from teaching and is so happy about it it makes you sick. Never stops singing, playing badminton, book clubs, walking clubs, etc.
Its a big step giving work up altogether after 48 years of more or less continuous graft and it makes me nervous. Hifi/music can only fill a few hours a day and you can't spend all of your life on holiday.
 
I retired at 67, to boost my state pension a bit. It helps pay for upgrades which I couldn't justify previously.
I worked at the same place for 44 years, and haven't needed to find another job.
 
Retired at 61. 64 now and absolutely no regrets about retiring ‘early’. As mentioned here a while back, I’d told my manager I was going to resign, and he arranged to make my post redundant instead, so I left work six months earlier than planned with a year’s salary in my pocket.

Mick
 
Never planned to retire early but things changed at work and maybe so did I, gave a years notice when I was 60, a lot of close friends were very surprised at my decision. Left a year to the day of my notice, that was 4 years ago and for me at that time it was absolutely the right thing, have had time to concentrate on close family, friends, hobbies, travel and holidays. Bit of a shock on the first day but that feeling soon went and we (my wife retired on same day) soon adjusted to the income drop. On the hifi front I reduced and simplified my system but spent a few quid of the tax free pension pot. Never enjoyed listening more than I do now which is just as well, had some very enjoyable days socialising and listening to other systems with some good friends, one or two post on here so thanks PFM!
 
Some very interesting stories on here. I am 48 in May, will probably have to work another 10-15 years. I have worked for the same company for nearly 20 years in a job I have really come to enjoy (media sales) but the perspective of being in my 40s probably helps. Never earned big dosh but have a small mortgage which should be done by end of year.

I have been very fortunate to gain an entirely new circle of friends through taking up cycling so have probably never been happier. Better half is a head teacher who will probably retire at 60; a few things have happened recently which have illustrated how short & precious life can be.

I probably did most of my hi-fi spending 10 years ago but I am generally happy with my set up.
 
dave charlton said:
Recently reached pension age but have just picked up a job (contract welder) after being unemployed through the winter. Might get the summer out of it then that's it :)
Click to expand...


We have several retired welders still at it where I work. The grabbing buggers are never out of the place! It's a good thing really as there is a bit of a void between the older workers and the younger ones and there was and still is a danger of certain skills being lost.
 
I'm soon to be 59 so could go in just over 12 months time, but as my daughter is still studying I reckon that I need to plod on until I'm at least 62/63. Saying that, if I had a really bad day likes others have indicated I could consider walking out or giving the minimum amount of notice. Must admit my interest in equipment has severely waned since my fervent box-swapping days, though my interest in music has remained steady. So unlikely to change much, but could be tempted by a new sub £1k amp. I think the retirees that I know have all said that they have no regrets, but they all at least have a pretty decent retirement income. One of our big conversations at work is 'just how much do you really need to have a decent standard of living on' - things seem to range from just over £1k per month to £2.5k - that is presuming no mortgage/debt and so on!!
 
I started work at 15 and threw in the towel at 66 as the work that I enjoyed was changing and getting harder so the fun was going out of it. Also I wanted to wind down by reducing my days but my employer said 'no' so I legged it. Also I was getting fed up that I had such a demanding job but HMRC still wanted getting on for half of what I was earning just hard work down the drain.

For me time since I retired just seems to fly past and I still only listen to music in the evening just as I did when working.

If you want a happy retirement then saving for it is a must. During the last 10 years or so I was putting around 30% of my income into tax efficient schemes. Amazing how it grows through compounding.

We had an extension built last year and one of the brickies was 80 and still going strong in last Summers heatwave!

Cheers,

DV
 
64 at present, and my plan is to go on (I still enjoy what I do) until next February, at which time I’ll pick up my company and state pensions. However, I’ve already gone part time and according to my colleagues, I am now a TWaT, because I only work....wait for it....Tuesdays, Wednesdays and Thursdays.

I also have a lot of Naim, so obviously I am both a TWaT, and a PRaT. :D
 
62 right now, with one daughter still at Uni and 2 more daughters about to start later this year. With 3 at once, next year will be a tad expensive. If no 1 pops up with a request for a Masters (entirely possible) I could have two years of 3 and perhaps another 2 - 3 years for 2 afterwards. So although I could retire now it would be madness. And SHMBO does not like the idea of me retiring before her - although I keep telling her she could retire soon anyway.

So I am afflicted by having a family so late in life and having an unexpected 3 of 'em
 
Darth Vader said:
I started work at 15 and threw in the towel at 66 as the work that I enjoyed was changing and getting harder so the fun was going out of it. Also I wanted to wind down by reducing my days but my employer said 'no' so I legged it. Also I was getting fed up that I had such a demanding job but HMRC still wanted getting on for half of what I was earning just hard work down the drain.

For me time since I retired just seems to fly past and I still only listen to music in the evening just as I did when working.

Cheers,

DV
Click to expand...

I'm surprised that being so high up in the hierarchy of the Galactic Empire, you had to worry about frivolities like income tax and pensions.

Couldn't you have just tapped Palpatine up for a few trillion credits on the quiet?
 
You must log in or register to reply here.


advertisement


Back
Top