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Early retirement… who did it?

Part of the problem is that I feel now as good if not better than I did 20 years ago. It's easy to delude yourself. I suppose one day I'll get ill and it won't just go away.
So did I 60.
As I approach 70 this year I am a different animal.
Not ill.
Just old, slow and wearing out.
 
How is £17K of taxable income virtually tax free?

If I just lived off by taking out of savings then it would be effectively tax free, plus comparatively speaking (and from a personal perspective!) even structured as pension income the tax burden would be tiny compared to pre-retirement.
 
How is £17K of taxable income virtually tax free?
There are very few people buying annuities nowadays…mostly those who have a guaranteed advantageous rate. Yes this is taxable as salary would be. There should a 25% tax free though…the same is the case with drawdown.

One option with drawdown is to use up the tax free part first plus taxable to use up you income tax allowance. The leaves more invested to hopefully grow better. Sorry, it’s a brief answer. I can add more later if I need to.
 
No, no it’s quite alright thanks.
I have no need of the info.
I am enjoying an index linked final salary pension.
 
No, no it’s quite alright thanks.
I have no need of the info.
I am enjoying an index linked final salary pension.
That’s certainly much simpler and very predicable in terms of what you receive. Also there’s no need for you to gamble on how long you’ll live.
 
Some depressing numbers here, folk retiring on way more than I currently earn doesn't bode well. I think a trip to Switzerland may be on the cards for me.

It costs 4 grand, so you need to well heeled for that too............I was going to jump (as per the song) off the roof, then when I saw it on the telly its single story.....

It relentless Matt, were doomed....

S
 
I think there are three four to plan for

1. Day to day living and luxuries like travel and expensive necessities like a new car or a few dental implants. Most of the discussion has been around that.
2. Really big items which are likely to crop up. If you needed a new hip, and the NHS was saying wait three years, well . . . £30K for an op and care after - that's a guess.
3. Nursing care or care in a residential home. In the last few years of life it may be desirable at best, to some degree.
4. Something to leave the ones you love.
 
Stolen from somewhere: I want to die peacefully in my sleep like my grandfather, not screaming and yelling like the passengers in his car.

But, yeah, highly compressed morbidity is my goal.

Joe
 
My father’s father died in his sixties, but his grandfather lived into his late nineties, and may have made 100 had he not fallen out of bed and broken his leg. Infection set in and that was the end of him.
 
Give me an idea of ‘lots’ so I can adapt my intake,
He and my mother could and often did polish off a bottle between them in an evening. They both also smoked heavily until tobacco duty increases meant they had to choose between the booze and the fags.
 


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