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Original poster

What age do you think you’ll retire ? And what do you plan to do then ?

88 replies

Lardlizard · 04/10/2020 09:21

People seem to work to so much older these days
So do you have any ideas at all in your plans and how old are you now ?

Im early 40s but I’d like to do some real traveling
Actually go on a trio around the world

Maybe do some animal conservation work

Thjngs is still like to learn like scuba diving, skiing properly
Although maybe ought to learN these before retirement

OP posts:
jennymac31 · 04/10/2020 14:40

Ideal plan would be to go part time when Mortgage is paid off (should be 57 by then) and hopefully retire at 60. Majority of retirement would be spent travelling but I do think it's likely I'll end up retiring much later, which is quite depressing. Both my parents retired at 55 but they had kids much younger than I did. Youngest will be finishing school by the time I reach 55.

Dugee · 04/10/2020 14:44

Hopefully go part time at 60 (so my pension can continue to accumulate interest but p/t work will give me enough to live off, mortgage should be paid off at 60 too).

Retire fully between 65 and 68 (current state pension age for my age cohort).

Move to the country, get a dog or two and do some voluntary work.

lojoko · 04/10/2020 14:48

Probably never? Can't imagine they'll still pay state pensions by the time I get there -- they've taken everything else before I got there, after all! Grin

So work till I drop, or foment bloody revolution.

Dugee · 04/10/2020 14:58

I wondered about being fit enough to travel when I'm older (travel insurance can be expensive at that age too). So I've got most travel out of my system already. I'd still like to do a long driving holiday around the US and Canada though.

I've already seen most of Asia (lived in Aus and HK for a few years) and have been to a lot of places in Europe on holiday. I also taught English in South America after graduating, so did a stint travelling that area too.

In addition to the big holiday in the US / Canada I'd also like to visit Japan, but may do that for my 50th.

riotlady · 04/10/2020 15:05

I’m 27, so planning and saving for retiring at 60-65 but will obviously depend on circumstances.

BeyondMyWits · 04/10/2020 15:15

56 and semi retired. Took civil service pension at 55 and am now working very part time 12hrs a week in a little job- perfectly pleasant drop it and leave on the dot of 1pm - tops up pension to liveable wage. Can continue like this till health or retirement age mean giving up.

Fastforwardtospring · 04/10/2020 15:16

Planning on 60 unless I get made redundant in which case will bank the payoff, find something part time to get by and go sometime after 57/58 unless the part time job suits me.

Icequeen01 · 04/10/2020 15:42

We had hoped to retire by the time we were 60 but the nearer we get the more we seem to move the goal posts. DH is 58 and I'm 59. We are mortgage free and DH retired from the police about 7 years ago and has a decent pension from that which he now draws. He felt he was too young to retire and worked full time in a school in quite a responsible roll. He decided he wanted to take a step back and went part-time earlier this year so he could play more golf but that lasted all of 2 months and for various reasons he is now back full time with no end in sight.

I still work full time and although I love the people I work with I am starting to yearn for semi-retirement. I would probably fill my spare time volunteering for the Cat Protection or something similar. I have a SIPP which has enough money in it to cover me until I get my SP at 67. We should be OK financially in retirement and would love to have some shorter holidays throughout the year that are not in the school holidays (I hate being away from home for more than 2 weeks at a time!).

We have updated everything in the house so it's "retirement ready" but after having just had a very expensive leak in our en-suite which has cost a lot to repair and meant a complete new en-suite I would like to build up our cash savings so we have a decent cushion again.

So I have a feeling it will be another couple of years before we take the plunge.

spottybitch · 04/10/2020 15:47

As soon as I get my old age pension because it's more than I earn at work.

Rhubardandcustard · 04/10/2020 16:14

55

4 years to go and counting.

Have good pension and will probably also downsize and move further from London than I am already.

I plan to get another dog and a camper van and go travelling round the uk for a few months. Also plan to visit some far flung places that have been on the wish list for a while. In spare time volunteer, take up some new hobbies-join a choir etc.

Love51 · 04/10/2020 16:26

Can you imagine if you had retired in March with all these plans to travel?

Officially I'll retire at 68 but I'm putting some plans in place in case my health is shit and I need to stop work sooner. If my health holds up I'll maybe be able to go part time.

NeedWineNow · 04/10/2020 16:56

DH is looking to retire at the end of next year, when he will be 68. He's said that he'd quite like it if we could both give up at the same time - I will be 59 - so that we can spend the time together. I might look at going part time if I can, depending on what comes of the current situation. I've decided I definitely don't need the corporate job any more - going up to London 5 days a week and working for a City Law firm as a PA holds no appeal now. We going to spend the next few months looking at finances. I've only got a small company pension, and won't get the State Pension until I'm 67, but DH seems to think that it is doable so I'm not going to argue! I suppose it makes it easier that we haven't got a mortgage or DC, so it's only us two.

Megan2018 · 04/10/2020 16:58

Originally planned to retire at 55, but then had a last minute baby at 41 so it’ll be much later now! But that’s ok Smile

monkeyonthetable · 04/10/2020 17:00

I don't really want to retire. I only work PT anyway and really enjoy my work. It's freelance, so if I wanted to take a few months off to travel, I could. Maybe at 70 I'll feel different.

0blio · 04/10/2020 17:31

I'm late 60s and still working full time. I'll have to keep working for as long as I'm able to as my pension will be tiny. Luckily I don't have any health problems that I'm aware of and wfh is proving to be beneficial as I just don't have the mental energy or tolerance for all the nonsense that goes with working nowadays.

TalbotAMan · 04/10/2020 17:40

I'm 62 and will be 63 in two weeks (yikes). I'm currently splitting my time between a salaried job two days a week and a consultancy job which is done on a day basis on what is technically a zero-hours contract. I'm working on the forms to move to full-time salaried consultancy, but the salaried jobs are a bit scarce and so it's competitive.

If I don't get that, I might give up the salaried job (university lecturer) and take its pension and another one that was due at 60, and do more of the consultancy, as it's better paid and less stressful. In fact, if I left the university job and took those two pensions I would actually be better off in the short term as the pensions together come to more than the part-time salary and you don't pay national insurance or pension contributions on pension income,

DW is a bit younger than me and DC are in Years 12 and 9, so I don't see me retiring any time soon, and, as long as my health permits, I don't really want to. While we've attacked the mortgage hard over the past couple of years, we still have some left, and the fact that DC are still at school precludes going travelling. DW suggested that it would allow me to spend more time gardening, which I think is a pretty good reason to keep working until I drop.

Bu,t so far, I don't feel old.

whiteroseredrose · 04/10/2020 17:59

Currently 55. Likely to retire between 65 and 67.

Mortgage will be finished in 4 years and DD finishes uni in 5 years.

DH is only 52 so the plan is to retire together when he is between 60 and 65.

Sounds awful but retirement age will depend on potential inheritance and if all is spent on care home fees or not.

When we do retire the plan is first to buy a round the world ticket then to buy a motor home and pootle around Europe.

BestIsWest · 04/10/2020 18:02

57 now. I get most of my private pension at 60. DH might retire at the end of this year I think so I might go part time for a bit then see how I feel in a couple of years.

Ghostlyglow · 04/10/2020 18:56

I'll be 55 this year and was planning to retire. I've put it off though because there's nothing to do and nowhere to go. May as well stay at work Sad

BiBabbles · 04/10/2020 20:10

Uncertain, I'm in my mid-thirties and likely going on until I can't anymore, possibly going part time in my 60s or 70s if I make it that long & can do so.

I'm hoping to get my two travel goals done in the next decade, and have no desire to travel a lot when I'm old. I imagine living in a retirement village, with someone else to take care of the house maintenance and arrange social activities. Maybe causing mischief Diana Trent style...

Original poster
Lardlizard · 04/10/2020 20:14

Yes I did totally agree with dojng travelling before you get to that age incase you can’t or even just don’t fancy it then
And the insurance premiums is a very good point

OP posts:
Lazysundayafternoons · 04/10/2020 20:18

Hoping to retire when I'm 60.

Mortgage will be just paid off, kids will be 37 and 31.

I'm not sure about travelling, I think I'd prefer to just retire somewhere warm. We could sell the house and buy a smaller property here and a small one abroad.

I'm 30 now so just 30 years to go Shock

Solasum · 04/10/2020 20:27

Those of you planning to only start Travelling in retirement, once Covid is less of an issue, please do think carefully about this. I had a lovely teacher at school who had been saving her whole life for her retirement. She had lived incredibly frugally, no holidays ever, and had the most wonderful plans. She was due to retire on the last day of term, but very sadly during the end of term concert she had a heart attack, and died later that night. It seemed such a waste of her dreams. Mini adventures are still worthwhile

Original poster
Lardlizard · 04/10/2020 20:29

Sol, this seems to be a fairly common thing to happen
What a shame

OP posts:
spottybitch · 04/10/2020 20:31

@Lardlizard

Yes I did totally agree with dojng travelling before you get to that age incase you can’t or even just don’t fancy it then And the insurance premiums is a very good point
That's what we've been doing, we don't work in the summer holidays and travel as much as we can.