AMA - Retired at 40

[Amaretire40]

As the title says, I’ve decided to retire at 40, so AMA!

I’d have had an even shorter career if so!

I’m sure I’ll figure out something - likely charity and local interests. I really need to get my health back on track too - 17 hour days take it out of you! If all investments etc do go to pot, I am (or at least was) pretty decent at gardening and growing my own veg, and I’m not afraid to roll up my sleeves and do any job really.

I hadn’t hit follow the thread… oops … so thanks for the nudge!

Yes I will be unemployed. I won’t be getting wages from employment.
Married, no kids (couldn’t). My parents are dependent on me.

Do you have a partner? Are you thinking of having any children?

Sorry, just seen your update, I’m sorry about that.

And your partner will carry on working?

I would consider unemployed to suggest actively seeking work or expects to need income from wages. I do not need to work for wages again, so can effectively retire.

So do you use the term retired and unemployed interchangeably?

But you intend to seek employment hence referring to yourself as unemployed?

this is as clear as mud

I LOVE this for you!!!!

Can we get specific....

Edited as crossposted
Are you single?
Children?
Whats your Property Value?
Whats your current pension Value?
How much do you have in investments?
What is your investment spread? EiS...vct... ISAs..??

I did not earn well in my 20s but dod okay for myself for a while in big tech... I am now in am okay spot but 2 kids derailed my financial plans somewhat 😅
I am still aiming to retire at 52/55....

What was your salary?

how much do you have invested and what do you spend each year?

thats amazing to have worked for around 20(?) years and be able to fund the next 50ish.

im early 40s and hoping to retire at 60 but not sure yet if it’ll be feasible.

i think I would like a phased retirement. From mid 50s would be good, but unlikely if I want any kind of standard of living .

are you married? Kids?

I'm jealous. Still trying to get my career started (years out of working raising kids, what a fool as was financially dependent on [now ex] husband who then turned out to be an abusive cheating prick!) And haven't managed to get on the property ladder (again, expected to do so with ex, then he pulled the rug by deciding to have a midlife crisis and spend money on drugs instead)
So yes, I'm 40, single and looking at a long, hard slog ahead 😕

Ive got £500k in investments, pension of £400k (so will hopefully grow over the next 25-30 years), and own the £1.2m house outright which also forms part of a future downsize plan.

Yes i have a partner but kids didnt come. We are reconciled to it - have been together over 20 years.

🍪

No I don’t intend to seek employment as I don’t need wages. If the question is how I will spend my time I will happily consider voluntary (unpaid) work for a sense of purpose etc.

You and your husband have entirely separate finances?
Is he also retiring / unemployed (whatever you call it)?
happy?

You said you would be unemployed

so do you see yourself as unemployed or retired?

Well done. Enjoy it you have worked hard and made good choices.

I think (from memory) the earliest you can draw a pension is 50.

Property - £1.2m owned outright, with downsize being a likely part of the plan.
Pension - £400k, maxed contributions where I could
Investments - £500k across ISAs (cash and s&s), general investment accounts, and some company stocks. I have done some EIS in the past but this isn’t a significant part of it.

And good for you - the time in the market will hopefully work in your favour!

Yes, separate finances for the 20+ years we have been together. We share full information on all accounts.
He was made redundant a few years ago and decided he’d rather work on projects with friends (not making money, yet).
To preempt the natural question or assumption - I’ve always been the main earner by quite some margin.

Hahaha I love these fantasist stories

op, I have a question have you always been a good storyteller?

That’s really tough and must be very difficult when decisions haven’t been entirely your own. I hope you’re in a better spot!

Sure.