AMA - Retired at 40

[Amaretire40]

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

True, but your tone seems quite unpleasant.

Nosy

Good for you OP!

I think I’d look at retraining into something I enjoyed but doesn’t pay well. Like being a part time teaching assistant or something for example.

I know you talked about voluntary work, but your figures are actually a bit tight, especially given the husband with the not so flourishing business (could you assist him in his business?)

We have no mortgage and take home just over 3k a month in income. It’s certainly reasonable money and we’re comfortable but it’s not a particularly luxurious lifestyle. We do have 2 kids so they cost us money, but then they mean we can’t go out much either!

That’s really low, I guess it excludes food but Includes council tax?

so water, elective/gas, streaming services, sky, insurance, WiFi, cell phones etc ? Then you must have food on top?

Retired at 54 with £1.2m in my pension and £100k in savings. Not touched the pension yet other than to take £12,570 this tax year. I describe myself as retired.

@Devilla The bitterness just exudes off you 😂

How are you going to make use of all that pension before you die without paying huge amounts of tax on it?

wow. I've seen your follow-up comments. I'm not bragging (because it's due to a bereavement, in addition to a portion of it being savings) but I have the same or a bit more in investments, ISAs, house etc, and I would not dream of retiring on that amount.

I'm not saying you need to carry on with the high-stress finance sector role, but there's other, more enjoyable jobs out there. I work in my son's old school and it's a lovely community. I need to get out and interact; I can see what isolation has done with my mum and it's not great for your mental health.

Anyway, well done, OP.

Please don’t worry I’m doing very well at it. Here for a good time not a long time! Spend it. Ps It won’t be me paying the IHT.

I’m talking about income tax not IHT