lordsummit
Moderator
It does depend how long you w been teaching for of course…
Early retirement… who did it?
- Thread starter JTC
- Start date
It does depend how long you w been teaching for of course…
foxwelljsly
Me too, I ate one sour too.
49, two small kids, just under £200k left on the mortgage and I didn't start paying into my pension until I was 28 so I won't be retiring early.
On the plus side, my job is reasonably well paid, not going anywhere soon and relatively stress free, so not too bothered about anything other than imminent societal and environmental collapse.
On the plus side, my job is reasonably well paid, not going anywhere soon and relatively stress free, so not too bothered about anything other than imminent societal and environmental collapse.
Jamie
pfm Member
Not too much chance here. I'm 60 in November. Only 11 mortgage payments to go, so that's a bonus, but son is only 13, so still need a decent income to support him, then (if all works out), need to find £120k or so for his pilot training!
My job is pretty secure and well paid, reasonable pension (final salary up to a couple of years ago, now frozen). Been with the company for 16 years, and took a new position a couple of years ago meaning I don't have to manage people any more, another bonus as there is always someone who is a pain in the a**e.
Looking to retire from Nottingham to Cornwall when I'm 65 (hopefully).
My job is pretty secure and well paid, reasonable pension (final salary up to a couple of years ago, now frozen). Been with the company for 16 years, and took a new position a couple of years ago meaning I don't have to manage people any more, another bonus as there is always someone who is a pain in the a**e.
Looking to retire from Nottingham to Cornwall when I'm 65 (hopefully).
Of course, her whole working life has been teaching so over 30 years & counting.
Bob McC
Living the life of Riley
Not been that for a while.
And you could have always taught if it’s so lucrative.
JTC
PFM Villager...
I need to digest it, but it’s largely in favour of early retirement and I am fortunate enough to be mortgage free already, no debt and a reasonable cushion of savings & investments, plus the holiday let (which brings in modest but regular income) and an okay job working for a Swiss fintech. Keep flinging spare cash into the s&s ISA and pension for another seven years and we might - just might - be good
snowflake
Former Albino Ape
I need to digest it, but it’s largely in favour of early retirement and I am fortunate enough to be mortgage free already, no debt and a reasonable cushion of savings & investments, plus the holiday let (which brings in modest but regular income) and an okay job working for a Swiss fintech. Keep flinging spare cash into the s&s ISA and pension for another seven years and we might - just might - be good
And straight into the chirpy, chirpy, chirp camp, trust me, f*ck it all off tomorrow.....Swiss finntech, which sounds made up, if I am honest, will not miss you....
S
Ponty
pfm Member
I need to digest it, but it’s largely in favour of early retirement and I am fortunate enough to be mortgage free already, no debt and a reasonable cushion of savings & investments, plus the holiday let (which brings in modest but regular income) and an okay job working for a Swiss fintech. Keep flinging spare cash into the s&s ISA and pension for another seven years and we might - just might - be good
If you have no debt and are prepared not to spend money on crap you don’t need, you can live very well on a relatively modest income. Trust me, it’s better than working.
JTC
PFM Villager...
Well, I have a rampant hifi addiction…….
Stemcor
I should be listening to music
A work “reorganisation” in 2018 meant that I ended up holding my P45. Decided that after 35 years non-stop in the City of London I needed some time off. Went for a 12 month break and just as I was thinking of looking for a job, covid hit.
The City hates grey hair so no chance of doing anything paying as well as my old job. Have realised that you don’t actually need a lot of money to retire. Next up is selling Stemcor Towers and moving to somewhere less expensive which will free up funds for life’s little extras.
My best man said that when he retired he soon realised that he didn’t know how he found the time for work. Having slowed down significantly, I have to agree for him. My days of stress, having to put up with idiots without an iota of common sense (especially the Oxbridge educated ones) mean that I’m now grateful for getting the chop.
The City hates grey hair so no chance of doing anything paying as well as my old job. Have realised that you don’t actually need a lot of money to retire. Next up is selling Stemcor Towers and moving to somewhere less expensive which will free up funds for life’s little extras.
My best man said that when he retired he soon realised that he didn’t know how he found the time for work. Having slowed down significantly, I have to agree for him. My days of stress, having to put up with idiots without an iota of common sense (especially the Oxbridge educated ones) mean that I’m now grateful for getting the chop.
MUTTY1
Waste of bandwidth
I decided when I had just left school that I would always work in a way that maximised flexiblity and free time ie:I would work as little as possible. This was simply on the basis that I wasn’t bright enough to do something that would hold my interest year on year; I would have loved to be a mathematician or at least a scientist. I think I managed full-time work for about fifteen years. The remaining was part-time or resting. I stopped at 59, thirteen years ago. I was really happy with a 2CV, loved the 90 mpg of my very characterful Ducati and never pay for coffee or car parks. All this non-spending is a bit like compound interest: it all adds up.
As long as inflation doesn’t do a hatchet job again, I’m alright Jack
edit: I should add I never claimed the dole or whatever it been called just to head off the Indians on here
As long as inflation doesn’t do a hatchet job again, I’m alright Jack
edit: I should add I never claimed the dole or whatever it been called just to head off the Indians on here
Sloop John B
And any old music will do…
Mullardman
Moderately extreme...
You have PM
Mullardman
Moderately extreme...
I 'retired' in 1997..after a pretty heavy duty Heart Attack...at 48. I lasted about three years before I decided to go back to work..albeit with no intention of getting into a 'promoted post'. From then on.. it was no more than a 'slog'. The job I'd loved was turned into a box ticking exercise..and I swiftly morphed into 'just turning up for the money' mode.
After having chosen to retire early.. I now found myself determinedly 'hanging in there'..out of bloody mindedness.. I was surrounded by redundancy etc.. but became more and more determined that I would not be forced out... It was an odd mindset. I had definitely had more than enough.. but I didn't have a huge pension..., so I determined to hang in there as long as I could. I did my last day of work about 4 months before my 65th birthday, and spent those 4 months applying for every job in sight, just to piss them off.
On a lighter note... From my P.O.V., the point about retirement is not to do nothing. but to be able to choose what you do..how much of.. and when. Some days the old ticker tells me to sit around enjoying the view.. or 'nodding'. Other days, I'm active all day. doing something.
After having chosen to retire early.. I now found myself determinedly 'hanging in there'..out of bloody mindedness.. I was surrounded by redundancy etc.. but became more and more determined that I would not be forced out... It was an odd mindset. I had definitely had more than enough.. but I didn't have a huge pension..., so I determined to hang in there as long as I could. I did my last day of work about 4 months before my 65th birthday, and spent those 4 months applying for every job in sight, just to piss them off.
On a lighter note... From my P.O.V., the point about retirement is not to do nothing. but to be able to choose what you do..how much of.. and when. Some days the old ticker tells me to sit around enjoying the view.. or 'nodding'. Other days, I'm active all day. doing something.
I happened to be sacked just before I turned 52 (this was in 2009, remember that year?), I got a 15 month redundancy package, sold my condo and moved to my hometown. Lived on the money until a couple of years ago when I officially retired.
Would I do it again? YES! Nothing beats not going to the salt mine.
Would I do it again? YES! Nothing beats not going to the salt mine.