Early retirement

(64 Posts)
googlenut Mon 20-Jan-14 19:04:45

So I wasn't sure where to put this but I wondered what people thought about early retirement. Me and dh had our children later in life so will probably work into our sixties. But we were watching A place in the sun and they were interviewing a couple who didn't look more than 50 and they had retired to Portugal and there life seemed -well- a bit empty of anything.
At work some of my colleagues are aiming to retire at 55 but this seems very young to me.
Wondered if there were people who have done it and found it wasn't the nirvana they imagined.

coocachoo Sat 25-Jan-14 13:45:56

my dh retired at 60 all he does is watch tv and puts on weight as he wont even go out i walk the dog and go out but he just sits there depressed and he argues with me and my 14 yr old dd whot is argumentive at times. We moved house to hb and dont like it so quiet and surrounded by very old retirees who seem happy but its not for us my dh has prostate probs too since we came here which dosent help. i think working keeps u young but i am having trouble finding work too despite being 55. I want to move back but am now stuck as my dd is doing exams so cannot move for 2 yrs but we will whatever the future brings as im not dead yet.

storynanny Tue 21-Jan-14 20:58:56

I've posted on the education staffroom site about early retirement.
I loved my primary teaching job for 33 years and thought I would enjoy teaching til I was old and grey. However, continual nonsense in schools coupled with middle age exhaustion creeping up, elderly parents getting infirm and children all becoming independent adults brought me to a turning point 2 years ago.
I took early retirement with an extrememly small reduced pension, a small lump sum which paid off my mortgage and now choose when I do supply teaching. My life is transformed for the better.
But, I couldn't have done it before 55 as financially would have been impossible. I do have hobbies and a lovely OH to spend time with but also enjoy days doing not much at all!
I have yet to meet anyone who regretted early retirement. Anyway, if they did regret it surely they could re enter the job market at some time? Or do voluntary work if they are ok financially.
My father was fortunate enough to retire at 59 and has had almost 30 years of retirement. I never ever saw him lost for something to do.
It might be hard taking early retirement if you don't have a good relationship with your partner though.

sooperdooper Tue 21-Jan-14 20:45:51

My mum retired last year, aged 56 and she's happily very busy with lots of hobbies, she does an art class and then paints at home too, knits/crochets, sews, goes on days out with friends, and her & my dad plan nice holidays - I think early retirement is great if you keep busy and have some kind of schedule to keep yourself active

I could retire tomorrow and never be bored, if I had enough money to live on!!

bigTillyMint Tue 21-Jan-14 20:40:57

Angelina, DM does this. She spends most of the day pottering/snoozing although she does do some stuffsmile

bigTillyMint Tue 21-Jan-14 20:39:57

Can you not, Midnite?grin

angelinajelly Tue 21-Jan-14 20:39:28

My parents and in-laws are in their 60s and retired. They all have bags of energy and spend their time rooting around for things to poke their noses into keep themselves occupied. I feel mean for saying it, but it does irk me a bit when they go on about how BUSY they are. I really am busy, as in, I have to work full time to support myself rather than entertain myself, and I'm pretty sure I won't get a 20-plus year retirement to enjoy at the end of it.

MidniteScribbler Tue 21-Jan-14 20:34:58

I'm aiming for full retirement by 60, possibly working part time from 55. I really can't imagine wanting to be bouncing around with a class of 7 year olds at 68.

MoreBeta Tue 21-Jan-14 20:28:37

Me and DW both retired shortly after we had DS2. We lasted 10 years and went back to work.

alma123 Tue 21-Jan-14 20:27:50

My Dad retired at 53. He seems happy walking his dog etc and is as fit as a fiddle, but my Mum who retired early seems bored. They both have the money to go on holidays but they don't. I guess the earlier you retire, the longer your money has to last. Of course, they get a pension but it probably isn't enough to save for a rainy day from.

HesterShaw Tue 21-Jan-14 20:23:31

I think the key is, if you have a relationship, is for it to be strong, supportive and loving - a real partnership. This is apart from being financially secure.

Preciousbane Tue 21-Jan-14 19:56:28

Just because your retired doesn't mean a boring life. My friend is 71 and retired a bit early at about 57, I didn't know him then.

He helps run a charity and does lots of community work as does his wife. They do some of their good works together and some apart for different organisations. They also love golf and play every week and have lots of holidays.

They have decent pensions. Which is the key and quite good health.

GreenShadow Tue 21-Jan-14 19:37:05

I have been lucky and was able to have several years off work as a SAHM and since returning to employment, have been part time. I am therefore in no hurry to retire and envisage continuing to work part time until mid 60s at least.

I do however already feel I'm close to heading towards being half retired as I seem to mix with people in their 60s quite a lot these days who are doing the recently retired thing - volunteering in the Community Library, afternoon art history course etc.

My Dad retired at 60 then went to Uni. He travelled all over the place and had lots of hobbies and voluntary work. I think he was almost busier in retirement than in work.

Its very sad when you hear of people retiring to do nothing or staying trapped in an unhappy situation.

AnyFucker Tue 21-Jan-14 17:25:05

yep, not always a bed of roses

my mum is now stuck with my father 24/7

can think of nothing worse

HesterShaw Tue 21-Jan-14 17:11:23

My dad took early retirement at 50. In truth this was because his job had moved and he was commuting weekly 300 miles and living alone during the week, which he found very stressful. The chance came and he took it. All the usual - talk of keeping in touch, "consultancy" (yeah right), he wrote a couple of papers for the industry magazine and then it all dwindled to nothing. He'd enjoyed it at first - started volunteering, hobbies etc. Gradually - and this is because of his unhappy marriage as well - his confidence hit rock bottom, far too low to look for another job, crippling depressions set in which he tried for years to hide quite successfully. Not enough to do, not enough stimulation, a bitch of a wife, stress and depression do not a happy person make. Early onset dementia and completely disabled at only 69.

I most heartily would not recommend it unless there are very firm plans in place, there is plenty of money (not a problem in his case) and the marriage is a very solid and happy one. It has been a total disaster for him and now it is too late. Very sad.

maras2 Tue 21-Jan-14 16:11:31

After waxing lyrical yesterday about spending more time with DGC's,I'm now on day 2 of looking after an 18 month old with HF and M.Her 4 year old brother is now looking like a good candidate for it too.Oh well rough with the smooth.smile

bigTillyMint Tue 21-Jan-14 15:27:17

My DM took early retirement at 56 - the year I started working. She was made for retirement - plenty of time to "rest up" and take things easy as has always been her motto. She is now 82.

I have worked 15+ years full-time 11 part-time, currently back full-time which is fine. I am nearly 50shock
I think my official retirement age is 66 or 67. I can't see me doing what I am doing now at that age!

AnyFucker Tue 21-Jan-14 15:25:22

I could go in 7 years if I wished (if some rich, overentitled fucker doesn't take it away first, like they have lots of other stuff I was promised)

I doubt I will though.

ComposHat Tue 21-Jan-14 15:15:20

If I retired I would become a complete lazy bum, basically those hermits who don't change clothes and don't have any contact with the outside world and grow Guinness book of records nails.

I need the discipline of having to be in a certain place at a certain time to prevent me from becoming a recluse.

Luckily (for me) I don't think early retirement will be an option. I think it will be talked of as a thing that the baby-boomers and baby-boomers alone enjoyed (along with free higher education etc).

Turquoisetamborine Tue 21-Jan-14 15:12:47

My employer offers partial retirement from age 50 where you go part time but your pay in made up to the usual monthly amount by sacrificing some of your pension lump sum.

I'm only 34 but nearly all my colleagues are over 50 and nearly all have taken it. Our pension age is 68 now so it saves you from working full time til then when you mightn't be in best of health and helps you access some of your lump sum to pay off mortgages etc.

I'll be doing this at 50.

scissy Tue 21-Jan-14 15:06:34

My parents retired early (mid 50s) from teaching a couple of years ago, with the government reforms they stood to lose money if they DIDN'T retire hmm.
My mum got another PT teaching job (allowed under pension rules) which she loves and my dad has never been busier with various community projects, church stuff and veg/fruit growing with homemade jam/chutney with the proceeds! He certainly feels it was the best thing he ever did.

AnyFucker Tue 21-Jan-14 14:55:32

that is sad, Carrie

my father is your classic emotional abuser and my mother spends all day being EA'd by him instead of having an 8 hour respite 5 days a week

she chose her "love" for him a long time ago though...

< realises is getting off topic >

CarriesPawnShop Tue 21-Jan-14 14:52:02

My next door neighbour retired at 50 from a high up civil service job, marvellous final salary scheme. He's taught himself various skills, he lectures me all the time on an extremely part time basis, he's forever on holiday- never a beach holiday, he's always going to view something or experience something or complete the blah blah railway or blah blah trail followed by some guy in 1856 blah blah.

My father was made redundant at 56, and would love to be holidaying (beach) 3 times a year, playing golf every day and spending the afternoon volunteering in school/rotary/Lions or doing a U3A course. Except my mother spent his career drinking and now he's her full time carer.

Or - what Anyfucker said.

AnyFucker Tue 21-Jan-14 14:05:56

I wonder if retirement enhances what are actual lifelong personality characteristics

Hence, the busy fulfilled types do well and make the best of it

and the self entitled, pedantic, narrow-focussed, empathy-starved types just become more so

I guess it's not too difficult to guess which subgroup my own parents fall into smile

CMOTDibbler Tue 21-Jan-14 11:41:48

My dad retired at 55, having started work at 14. He filled his days with a very small business, looking after the many animals and a variety of stuff for other people.

Bloomin good thing he did as he's become very frail since 70, and my mum first showed signs of dementia at 65, so they would not have had any time in conventional age retirement really

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