Anyone else slightly obsessed with retirement?

[LittleBoost]

I've got about 10 years left until I take early retirement.

I can scale down in those 10 years moving to doing the absolute bare minimum for the last few years (still full-time though).

I'm conscious to not wish my life away but I'm also ever so slightly obsessed with retirement, and very very much looking forward to it.

I track finances each month and model different scenarios. I have plans for my retirement including just doing absolutely nothing.

DP's also excited about retirement but not quite as obsessed as I am, so I try not to wang on about it too much to him 😂

Anyone else slightly obsessed with retirement? Please help me feel less alone in this!

Yes, luckily I am old enough for that not to affect me, and don't plan on doing drawdown until I am sixty anyway. I'm not sure everyone is aware of it though.

Yes, luckily I am old enough for that not to affect me, and don't plan on doing drawdown until I am sixty anyway. I'm not sure everyone is aware of it though.

I was like this from mid 20s ... then in mid 40s my pension scheme rules changed so my plans to retire at 55 went up in smoke. I did retire at 57 though as I'd put extra in from early 20's.
My biggest retirement planning win was putting half my salary into my pension in my final year.

For those planning - are you planning on drawing down from a pension pot? Do you have a figure in mind that is X times your estimated annual budget?

Is anyone planning to take an annuity or perhaps have a mixed approach?

Have you changed the portfolio mix to derisk it as you have got older?

My pension is all in global index funds and im thinking that i will need 25 times average annual expenses but i think ive got another 18-20 years to go.

I plan to draw down from liquid assets until I can take my full pensions (ie not taking pensions early).

I'm working off an assumption that I'll need a pot of 25x annual anticipated income to draw down.

I have a mixed portfolio with lots tied up in global trackers which derision over time towards projected retirement date.

Same, I reckon 29k would allow me to live a life travelling as much as I want. I did have a look and it seems like these averages are based on eating out a lot I.e. Once a week, which I certainly don't need to do, plus things like £100 every 6 weeks on hair and £1500 a year on clothes. The thing is, I'm cutting my cloth so much now to be able to save for retirement, I don't see how I'm suddenly going to want to spend loads on clothes every year etc. Mainly I want to spend my time outdoors and travelling, then maybe hobbies closer to home, gardening and local groups and exercise classes.

I've been a bit obsessed with it for the last year or two, and I'm going to retire at the end of September. I'm 66 and DH is 67. He's going to retire as well.

I'm looking forward to it, but it will be a big change.

I'm 66 and retired this year. My income is low. But it's wonderful to not have to set an alarm. But I'm someone who loves reading and pottering, and going to museums (using my bus pass!) alone. I do see friends too, go to quizzes etc. I enjoyed being a working womsn too and all the perks it brought but now I'm in a new phase of my life and I'm going to do art, write a play etc. So I don't think you should wish your life away - enjoy your working life and your income while you can.
I have friends who retired early from high,-powered jobs and they are bored silly. Their intellect is underused and they have no purpose in life. They spend their time and money on expensive holidays. It's a shame really that the government can't use their skills in some way. My ex-lawyer friend would sort out Putin in no time!

My plan is to retire at 60
I plan on 15 x my take home pay, minus mortgage and cost of car, as mortgage will be paid off and we won't need my car.
15 x because I will have my state pension at 67 and will not want to do as much past 75.

Drawdown, not annuity, and left invested so it will grow even as I am taking some each year. This easily covers everything with some fun money too. Our hobbies are cheap and we love fresh air and walking, even in Winter.

DH a bit older so we will have his state pension sooner, which will help.

I don't think anyone needs 25 years salary saved before they consider retirement, although I'm sure pension providers would argue otherwise.

What is this please ?

Financial Independence Retire Early

I think about retiring every day but I’ll probably be working till around 65. Will hopefully finish a couple of years early and live off saving ls and potentially downsize to release some cash.

I’m 57 so a while yet 😐.

I retired at the end of July aged 64. Doesn’t feel like it yet as I worked in a school so I’m used to having the school holidays off. I’m not a teacher so I don’t have a teachers pension. I have a small pension which I’m going to drawdown until my state pension kicks in. DH retired about 18 months ago for the second time (retired from the police about 10 years ago but then found another job in a different sector for 9 years before retiring from that). He has a good police pension. He now has a small job twice a week during school term to give him something to do that’s not golf! DH is a year younger than me but has been able to draw his police pension since he retired from the police. We will both get full SP.

I would like to find something two days a week so I don’t have to drawdown on my pension so much. It’s always been the plan that my pension was our cash pot for holidays and house repairs etc but I decided to finish work earlier as I was done and also my elderly DM has dementia and needs lots of support which I was struggling with when working. I am also hoping to do some voluntary work at a local cat sanctuary if they will have me!

i do feel slightly nervous if I’m honest but we are mortgage free and have no debt and I know we are luckier than lots of people. It’s just trying to change my mindset that I should have worked until the bitter end which is ridiculous I know!

https://www.retirementlivingstandards.org.uk
This is helpful as a guide to how much income you may need.

I first started planning my retirement finances at 48, which is 10 years ago. I obsessed over the figures constantly, adjusting and updating my spreadsheet. I aimed to retire at 55 then that seemed to morph into a target of 57 and now another year has passed and im still 'kicking the can down the road'. I put so much effort into the numbers and budgets and investments and returns and inflation etc etc, I didn't really plan the new 'purpose', activities and focus of what I would do with the time when I retired. I guess that is where I am at now, just concerned to jump not because of not having the resources but because I'm not sure about how I will feel about such a different life with no work focus, routine and social. Also moving from saving and accumulating to spending, scary! I work 4 days a week and my job is OK but I would love a good solid push factor to get me out of my rut...a redundancy or a toxic boss!

I completely identify with that. I have spreadsheets! And the power of amassing money is addictive. But you have to spend it at some point.

Yes! I am retiring NYE 2026 at 55 and are counting the weeks. 37 years in the NHS and I’m done! DH goes earlier in the June.
Neither of my parents made 70, and we watched millionaire PIL live like paupers, their monies now going on care fees and IHT. We aim to start spending and drip feeding it away to DC. If I get to 80 with little left I’ll take my chances.

Someone in our family retired early, did the maths, saved/invested and got ill/died within a year after retirement. Had a lot of money that he sadly never used. Get out while you can because you don't know what's coming.

No point in being the richest person in the cemetery. There are no points for that.

I’m 52, have a terrible pension outlook but think about it daily. I’m so over meetings, milestones, and excel sheets and ppts