I retired at 57, AMA

[PuzzledObserver]

Six months in, no regrets.

So the key to retiring early is no kids and no mortgage. Right.

@Desperatelyinneed

Which and how many ISA's.

Lots of different ones, eventually consolidated into one wrapper under Aviva. Then DH’s inheritance is managed by the portfolio manager and has gradually been transferred into their ISA over the years.

Past performance is no guarantee of future performance.

My mum retired at 58 and loved it, still does!
(she’s 68 now) my dad was still working so they had money coming in until he decided to take earlier retirement too a few years later. They had already paid their mortgage off at this point.

My folks were able to get the dogs they always wanted now they had the time, they got a camper van, spent time doing it up, and we’re free to go off with the dogs whenever they felt like it! They go away 5 or 6 times a year! (In the UK) My mum has never learnt so many new skills and she has various hobbies which she excitedly tells us about.
They have definitely relaxed more and my dad is way less stressed since he took earlier retirement too.

I think it’s great op.

We spend so much of our lives working, even with a fulfilling career, if I could, I’d take early retirement any day. I cannot understand pps saying they would get bored?!

@Shmithcat2
Well yeah what were you expecting?!

[quote Puppylucky]@Shmithcat2
Well yeah what were you expecting?![/quote]
Not the only option. Dh and I retired early by working overseas for 25 years. We have dcs and one is still at school.

I did the same. Retired at 57 and I'm now 63.
Slightly different as we have DC who were still at uni when I retired.

I have never, not even for a second, wished I was still at work.

[quote Puppylucky]@Shmithcat2
Well yeah what were you expecting?![/quote]
That the post was more than a stealth brag. Silly me!

@Fispi That sounds fantastic OP. How much of a mortgage did you have to pay off and did you stay in a smaller home to retire earlier?

We had paid the mortgage off years ago. The house situation is not straightforward, but in essence, no, not really. We had a house which suited our needs and didn’t buy a bigger one just for the sake of it.

@Toddlerteaplease

Rather you than me! What happens when the honeymoon period wears off.

Some of the posts on here read like she’s retired at 35 Surely 57 isn’t THAT young to retire?! Yes it’s below state pension age but not that unusual, just lower end of the spectrum. My dad retired at a similar age. I’m a bit confused that it’s enough of a talking point to even have an AMA to be honest!

@Longcovid21

How did you afford it?

I’ve answered that fairly comprehensively upthread. A combination of life circumstances and investing from early on.

I loved, loved, loved my job. Until one day when I didn't.

I'd simply had enough. Enough of having to deal with clients. Enough with long working hours. Enough of commuting.

A combination of an inheritance and a mortgage that had already been paid off, plus good pension/saving provision meant that both of us were able to retire before our state pension age.

I love it. I love not having to set the alarm every morning. I love having the time to read the paper, cover to cover, each day. I can plan our meals/shopping and spend time cooking rather than shoving something together at the last minute.

I love being able to go off for days out, or spend time with similarly retired friends during the week (Covid permitting, obviously) - all made easier by the fact that when you're 60 all your travel in London is free.

I wonder now how I had time to go to work!

@Longcovid21

How did you afford it?

No kids, no mortgage, and an inheritance.

@Scottishflower65 well done you for getting to where you are.

Guilt….. not about the good fortune aspects, no. We don’t choose what comes to us in life. None of it is the result of me having done anything wrong or at anyone else’s expense.

I feel a little twinge about having left that particular workforce so early because I know what pressure my former colleagues are under. But it was doing my head in.

@Shmithecat2

So the key to retiring early is no kids and no mortgage. Right.

Not necessarily. One of my sisters (three kids, mortgage) retired at 59. Another (two kids, mortgage) is planning to go shortly at 63.

@PuzzledObserver every now and then I have a twinge of guilt about not working. But I have to keep reminding myself that when I entered the workforce at 20 I would have expected to retire at 60 anyway!

@Toddlerteaplease

Rather you than me! What happens when the honeymoon period wears off.

it hasn't worn off yet! I see people who are doing my old job and am on my knees grateful that I was able to leave.

@PuzzledObserver

Not necessarily. One of my sisters (three kids, mortgage) retired at 59. Another (two kids, mortgage) is planning to go shortly at 63.

How?

So the key to retiring early is no kids and no mortgage. Right
No, I’m 52 and recently retired and have three DC. As soon as the youngest finished uni my DH and I retired. He’s 55 and we used some of the tax free part of the pension to clear the mortgage.

@TrufflesAndToast

I’m a bit confused that it’s enough of a talking point to even have an AMA to be honest!

I wasn’t sure that it would be. But there are loads of questions, so I guess that shows it is.

Dh retired at 47. It's been just over a year now. Going okay.

Did you get questions about how you'd afford it? I did and if made me not tell many people. Some people still don't know.

@BIWI exactly, all of that

Am hoping to retire at 56/7 as well. My job is incredibly stressful and busy but well paid. Appreciate I am lucky but I have worked incredibly hard since I was 23. I am also planning to volunteer.

Anyway I have no questions to ask but thanks for being an inspiration

I retired at 52. Absolutely no regrets. I love sleeping until I wake naturally with no alarm set, having a lazy breakfast, walking the dogs, pottering around in the garden, going on holiday when we feel like it, having long hot baths or showers with no time constraints, going shopping when I feel like it etc.

No further Qs but just wanted to say well done and it sounds like a great decision for you. It's given me some things to think about! Thanks for sharing.