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Original poster

I want to retire at….

112 replies

EUwannabe · 07/12/2022 11:22

So I’m hoping to retire early (early 40s atm!). What age would you 1) like to retire 2) think you’ll be able to retire? Is 50 too early 🤣

OP posts:
Phos · 07/12/2022 15:18

The plan is my husband and I will retire at the same time. He will be 60 and I will be 55.

Dougieowner · 07/12/2022 15:22

Iam about to retire at 57.
Had always planned to go at 60 but the situation has arisen where I can go nearly 3-years early and not be financially worse off (well I will be but it is insignificant).

Can't wait.
Have lots of things lined up. I really hope to be one of those people you say they don't know how they found time to go to work!😀

DesertIslandCondiment · 07/12/2022 15:22

@SwedishEdith One of the things I love about my company is that we are all different ages and all get on.

My Mum has retired and because of her health doesn't do much. She is so out of touch with things. I'm scared of being like that.

I'm quite young for my age and so is DH. He would like to work PT when he is a bit older but at the moment I'm happy with my FT job.

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Retirement & pensions
dizzydizzydizzy · 07/12/2022 15:24

crossstitchingnana · 07/12/2022 11:24

I'm 55 and I don't want to retire yet, and I can't afford to. Planning on going until I am fed up, hoping I can do at least mid-60s to build a pot. But, no-one knows what the future holds health wise x

Same

LastNCof2022 · 07/12/2022 15:24

AreOttersJustWetCats · 07/12/2022 11:28

I'm aiming not to retire particularly early, but for DH and I to both go very part time (2 or 3 days per week) from early/mid 50s, so we have more leisure time. I think being in the workplace and mixing with people of different ages/backgrounds is good for people - I know some people who have become very dull, disengaged, introverted and out of touch since they stopped work. Their worlds shrank a lot and they became far less flexible in their views/thinking.

At the moment we're on track for that, but who knows what the next few years will bring.

Agreed. I could retire now but i enjoy my job - and the growing pension pot - too much.

GoAgainstNicki · 07/12/2022 15:26

I’m 23 and I’d like to retire already:)

MintJulia · 07/12/2022 15:26

60

I'm 59.5 😊

idonotmind · 07/12/2022 15:26

Out mortgage should be paid off at 51. So I'm hoping 55 ish

Knors · 07/12/2022 15:30

16:00 UK time

Echobelly · 07/12/2022 15:30

I actually don't think I'd want to retire early, even if I had the money I wouldn't really know what to do with myself.

I think I'm currently aiming to retire at around 70. I doubt I'll have enough pension before then, and I'm in a pretty sedentary career. That would hopefully give a few years before I get too decrepit (I do have physical issues that mean I'm not going to be a super-fit oldie) to do stuff. Sort of hoping I pop my clogs in my early 80s - long enough to live but before life becomes horribly constrained by frailty.

Rookriver · 07/12/2022 15:34

I'm hoping to retire around 60. But need to seriously up my pension contributions to make it happen! 25 years to go!

AreOttersJustWetCats · 07/12/2022 15:48

Dougieowner · 07/12/2022 15:22

Iam about to retire at 57.
Had always planned to go at 60 but the situation has arisen where I can go nearly 3-years early and not be financially worse off (well I will be but it is insignificant).

Can't wait.
Have lots of things lined up. I really hope to be one of those people you say they don't know how they found time to go to work!😀

Some of the people I know who say they "don't know how they found time to work" seem to spend all day doing small, boring tasks that they would previously have done in no time at all, and just fitted around daily life!

"Well this morning I had to walk to Main Street to buy a pair of pliers, then this afternoon I was tied up for 3 hours sorting the post! I don't know how I used to find time to work!" 😂😂

www.thedailymash.co.uk/news/lifestyle/retired-parents-exhausted-after-day-of-completely-unnecessary-tasks-20190828188587

DrMadelineMaxwell · 07/12/2022 15:49

Pension arrangements for me are in 2 schemes due to the year I joined, so I could take all of it at 67 as a career average scheme. But the other part I could take as final salary scheme at 60, and I'd have to take the 67 element reduced.

I thankfully paid into an AVC from starting my first teaching job, which will have softened the blow that a lot of part time years have made to my contributions.

And I've been full time for the last 6 years and aim to continue with that until I can't face my full time classroom any more. I'm only 48 and in 10 years time I'll go to see a pensions advisor to discuss what is best to do. I may go part time for a few years to bridge the gap. Or I may take the reduced element. Or leave it be, live on savings and do some tutoring.

Q a few other teachers at school plan to retire at 55 as that's the earliest you can take the pension, but they haven't done the numbers yet to work out what they could retire on. Or they have large houses they plan to downsize to release capital to help.

Fleabigg · 07/12/2022 16:26

Givenhud · 07/12/2022 15:05

Sorry I was trying to quote the poster who said they don't expect there to be a state pension when they retire.

I wasn’t that poster but I’ve always assumed state pension would be means tested or something by the time I get there, so I just don’t factor it into our pension assumptions/calculations. If it’s still about when I’m 68 that’s grand, it’ll be a bonus, but I definitely don’t ever want to leave myself in the position of relying on government money.

LifeInAHamsterWheel · 07/12/2022 16:34

What age would you:

  1. like to retire? 49 (I'm 48!)
  2. think you’ll be able to retire? 65 (was late starting a pension so really need to work until retirement age)
gogohmm · 07/12/2022 16:36

Late 50's I'm hoping but may work pt

superplumb · 07/12/2022 16:42

I'm 44 and would love to retire. When I say retire, I meann be financially stable and could work doing what I want for pennies ( animal charity) amd not worry about bills. I couldn't do nothing as I bore very easily. I'll be retired around 60 I expect and I'll likely be too knackered to do anything by then. I feel like a 90 year old now!

alloutofcareunits · 07/12/2022 17:38

I'm 55, hoping to retire at 62. I enjoy my job but there are many hobbies, travel I'd like to do before I'm too old or unwell. Very fit and healthy now but my Dad died at 62 and never got to enjoy his retirement or claim his pension, despite having worked from being 15. It's difficult trying to balance when you can't possibly predict the future

Dougieowner · 07/12/2022 17:38

AreOttersJustWetCats · 07/12/2022 15:48

Some of the people I know who say they "don't know how they found time to work" seem to spend all day doing small, boring tasks that they would previously have done in no time at all, and just fitted around daily life!

"Well this morning I had to walk to Main Street to buy a pair of pliers, then this afternoon I was tied up for 3 hours sorting the post! I don't know how I used to find time to work!" 😂😂

www.thedailymash.co.uk/news/lifestyle/retired-parents-exhausted-after-day-of-completely-unnecessary-tasks-20190828188587

Show quote history

No, definitely have plans!

I look at my (late) parents, what they did in retirement and want to emulate them.
From 60 to the early 80's they were always on the go and we have the same dreams but with the chance to start a few years earlier.
They only slowed down when deteriorating health made them but it didn't stop them wanting to do things and it was amazing what they could still get up to (with reduced mobility) right up until their late 80's.
If I can live my retirement like them I will be more than happy.

Holidayqueen1 · 07/12/2022 21:41

I woke up one night last night worrying about our pensions! We’re both 51, mortgage will be paid off next year and we have significant savings. I have a final salary pension ( but it closed a long time ago and I only paid in for 10 years so it’s not that much money) and another pension scheme which has an ok amount of money and DH has a fair amount saved too but it’s so difficult to predict what’s going to happen! Our DS is 14 so we may have to fund uni for him if he decides to go, and would like to help him eventually on the housing ladder.
im already 4 days a week which is great so realistically may look to reduce to 3 over time and work until mid 60s? I feel young and we make the most of holiday time now so don’t feel the need to retire early I don’t think.

Idratherbepaddleboarding · 07/12/2022 22:04

60 as DH will be 68 and ready to retire (at current retirement ages). If I wait until I’m 68 (and realistically it’ll have gone up by then), he’ll be 76 and it feels like our fun retirement days will be nearly over.

BestIsWest · 07/12/2022 22:09

I have 58 working days to go including 24 days leave and five bank holidays. I’m not counting honestly.

BraveGoldie · 07/12/2022 22:14

60 or a bit earlier if atall possible....
15 years to go. I am so so ready for a break right now.

That said I think after a year or two of rest, I'll be itching to do something new - even if it's volunteering.... I'm not great at really resting.....

BestIsWest · 07/12/2022 22:14

My parents were also a brilliant example. They did so much during retirement. Volunteer work, local politics, amazing holidays, playing bowls, DF even went back to uni and did a degree. Like a pp it was only ill health in their 80s and then the pandemic that curtailed their activities.

OhIdoLike2bBesideTheSeaside · 08/12/2022 05:53

I'd love to retire early but I just don't think that we will be able to afford it unfortunately and speaking to lots of friends, they're all in the same boat really.
It's so expensive just to live these days!!
My manager at work is 60 soon and was planning to retire but she can't afford it now I think lots will be the same.