If you had the option to decide how/ when to retire what would you choose to do?

[Labradabradorable]

DH and I are now 43 and have just started discussing our options. Both enjoy our work, and are successful but want to pursue other interests too. A combination of hard work, inheritance and good investments mean we should be able to choose how/ when to retire (within reason, after 50 or so). We are both currently in good health. We love travel, writing, learning new things, the garden. Both have good transferable skills. Kids are 12 and 9.

It would be really nice to hear other people’s thoughts about how to retire well. I’m not sure the obvious choice of a life of leisure from 55 is necessarily always the best thing.

It was for us, DH retired at 55 me at 57 we went off on a 2 month jaunt round SE Asia which luckily for us was just finished as Covid hit. Despite not being able to travel again since we are really enjoying the stress free life of doing what we want when we want, we walk a lot as birdwatching is our hobby, i make jewellery, cook and plan meals as i enjoy cooking and the garden has never looked nicer 😁 if you can afford it i really recommend it. Cant wait to resume our travels when the world recovers.

I would love to retire now having recently turned 50 but finances don’t allow just now with DC in private school so need to see that through for another 5 years and then I will retire.

Firstly I would like to take a nice long holiday and then I will look to do more of my hobbies including jewellery making and get better at cake making/decorating. I would like to volunteer at an animal rescue and if I can’t do that might consider fostering animals.
I have 5 years to plan for it!

Thank you. Travel is something we would certainly enjoy, maybe for longer periods. I think I’d like to buy a place in France. I’d be interested in perhaps being a charity trustee, or independent prison visitor. I guess my fear is ageing early and feeling ‘left out’ of serious life, having always worked in a professional role.

I'd say that there would be a very long list of charities / voluntary roles that would jump on you, tbh. Another option though might be to look at part time / self employed consultancy or similar in your professional field? That way you'd keep a toe in the water but have time for yourselves as well?

I'm early 50s & have no intention of retiring unless forced to by ill health (I run a horticulture business, it's really normal to carry on pretty much indefinitely just slowing down / getting others to do the heavy work) but I've already taken on a couple of external voluntary / advisory roles for interest & (theoretically!!) dropped my working hours to cover.

We are really looking forward to retirement. We are currently 51 (me) and 48 (DH). Kids are grown up and self sufficient. We plan to retire in about 6.5 years. Mortgage will be paid up. We plan to spend the winters abroad to miss the cold UK weather. Seems ages away tho.

If I could choose it would be between 50-55.

I retired at 51

I'm a trustee of two charities and a school governor: I would be able to occupy myself perfectly well without these roles but I really enjoy them and I think it good to keep some engagement with the "outside world". It's also a good way to ensure that one meets new people and to apply the skills picked up while working for a good purpose..

I have French lessons and am(very slowly) teaching myself Ancient Greek. I design and make a lot of my own clothes, we go (COVID permitting)to lots of exhibitions, plays, films etc. and (even more COVID permitting) can just go off on little trips when we feel like it, travelling at times which are not busy. We like going for both urban and rural walks. When my son is home from University I love spending time with him and cooking nice things for family suppers. I read a lot and am a member of a club, so there are always interesting talks to go to.

This works for me. I used to travel a lot for work, so it isn't at the top of the list for me. I like to have a balance between structure and flexibility and between intellectual and creative "work" and proper leisure. I never set an alarm. I think it's important to remind oneself often just how very nice it is not to be in the office

I would always advise not putting off things you want to do until retirement, even if you are able to retire early. You never know how your life/health/family situation might change over the next 10 years.

That said the most successful transitions I've seen are those people who have a clear idea of what they want to do and a phased move to retirement- reducing days worked/going part time in the run up so that you get used to the idea.

Voluntary work can be great but has its challenges when you might not have the power to drive things as you had in your working life. Also dealing with established volunteers sometimes needs delicate negotiation.

Colleagues who have retired and taken entry level roles have all said that they find that not having management responsibilities and knowing that they can hand their notice in at any time made a huge difference. They all thoroughly enjoyed their new roles (leaving aside the debate as to whether you should take an entry level job when you don't need the money).

The most important thing is finding something that you enjoy doing.

I’m 31 so it’s a long way off for me (my parents are ploughing money into their retirement fund at the moment, they’ve got four years to go, all being well).

I’d love to retire at 50 and move to France. There’s no way I could ever afford that though, I’ll end up propped up at my desk like Weekend at Bernie’s.