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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask when realistically your will retire?

162 replies

fertilitybs · 23/07/2021 10:08

I mean realistically as in, you have a pension or other provision that is set up and tracking to meet your target.

What age will you be able to give up work and what will you do after?

Also how much is your provision tracking to give you as an income?

OP posts:
Bouledeneige · 23/07/2021 14:07

I'm thinking I will retire in 10 years time when I'm 67. That's because of my mortgage but I might pay it off earlier if I can. I have a decent pension so I'm not worried about that part.

elliejjtiny · 23/07/2021 14:13

I'm a carer for my 2 disabled dc so I'll probably be doing that until I die. Not sure about work. I'm a sahm and always said I would go back to work part time when my youngest was 7ish. He's now 7 and I still don't have time to have even a part time job at the moment. Realistically I don't think I ever will.

BackInNam · 23/07/2021 14:16

I'm 55 now and retired at 50 after being made redundant.

I worked for the same company for 28 years and paid as much as I could in to a final salary pension, until it was stopped, and then in to a defined contribution pension.

The final salary pension was able to be taken at 50, with the defined contribution pension starting at 55.

Combined, the pensions average out at about half of what I was taking home when working, but I used the redundancy money to clear the mortgage and pay off other debts so my outgoings are quite a bit less, and I don't have children.

I also love cooking and DIY so costs in those areas are minimised.

I am really busy as I have quite a few other hobbies and friends that I see.

echt · 23/07/2021 14:22

YABU.

Had you not been posting so very recently, I'd have have given you a shitload of personal information.

Hmm
echt · 23/07/2021 14:27

@fertilitybs

I mean realistically as in, you have a pension or other provision that is set up and tracking to meet your target.

What age will you be able to give up work and what will you do after?

Also how much is your provision tracking to give you as an income?

Are you a journalist/ lazy research student? You've offered little fuck all in terms of reciprocal information.
lemmein · 23/07/2021 14:35

Never.

No private pension.
No state pension.
Live in a rental.
No inheritance.

🤷🏻‍♀️

bigbluebus · 23/07/2021 14:48

We've worked out that by the time I get my State pension at 67 our joint income will be higher than it is now with just DH working. I don't work atm but will get an occupational pension from previous employment at 60. DH will get workplace pensions at 60 & 62/3 plus State pension at 67.

PastMyBestBeforeDate · 23/07/2021 14:56

Congratulations @blue1000 :)

Livpool · 23/07/2021 14:57

I am 41 and have 1 final salary pension (deferred) that I can take from age 60.
And a current pension with age in line with state pension age so will be working for a good few years yet. It is depressing

MolyHolyGuacamole · 23/07/2021 15:03

I reckon about 5 years after I die.

MrsKrystalStubbs · 23/07/2021 15:08

I have a couple of private pensions on the go but I think I’ll stay working for as long as I can, another 20 years hopefully. I have a chronic illness but I’m well and hope I stay that way. I love working, I had two years off when DS was small and I hated it. I don’t have a ‘career’, just do various menial office jobs. DH is hoping to retire in 10 years, so he can potter about, look after DS (who has SN) and I will escape off to work every day!

TwoZeroTwoZero · 23/07/2021 15:10

When I'm dead probably.

OoglyMoogly · 23/07/2021 15:11

I'm currently winding down my business then I'm officially retiring. Need more time for gardening, socialising and crafting! Grin

oldwhyno · 23/07/2021 15:23

46 now and half got my eye on 55. not done the maths to see how realistic that is. lots of variables.

brieislife · 23/07/2021 15:29

I suspect I’ll die before retirement age but if not I won’t be able to retire I don’t think.

littlepieces · 23/07/2021 15:34

Never.

I don't think I'd mind having a part time job well into my 80s though.

KingdomScrolls · 23/07/2021 15:36

Probably around sixty both have decent pensions with ok lump sums and mortgage will be paid off long before then, state pension still be a nice bonus later on. That's on the basis of just us if we are fortunate enough to inherit (of our parents don't need long term residential care etc) probably around 55 as that's the earliest we can take our pensions

MyCatEatsPrawnCrackers · 23/07/2021 15:42

I resigned from my teaching job in May (I'm 54) because the HT was a bullying prick and my mental health was being seriously affected. I can claim my pension next Summer but it will be pretty small. However it will be enough. I am mortgage free and have decent savings if needed. At the moment I'm happy doing feck all.

GertrudePerkinsPaperyThing · 23/07/2021 15:45

Hoping for 65. Might be 67. Well obviously would prefer sooner!

Manzanilla55 · 23/07/2021 16:03

I plan to continue working for myself alongside my state pension but it is only 9 years away. I intend to work a day or two a week all being well but will probably stop by 75. Assuming I make it to that age as you never know.... I will give up my car though. There are plenty of good free bus routes.

CupoTeap · 23/07/2021 16:07

Never

VestaTilley · 23/07/2021 16:07

No idea; DH is relatively well paid but started again at 31 and is self employed. He’s not go round to setting up a pension yet (despite me pushing) as we’ve got married and been saving for a house deposit. It’s next on the list after we buy a house (which will hopefully be soon).

We’re one of the couples mentioned upthread by another poster who are buying later (35), have a big mortgage (tough interest rate as only had 5% deposit) and will be paying it off until we’re 70 unless we start earning loads more or can overpay etc.

I have a good DC workplace pension, but my job is stressful and hard with a difficult boss; I can’t see myself staying there for the twenty years more I would need to to grow a large pot. Will look around when (if?) the economy stops being so shaky.

I have a small amount which will come in monthly from a DB pension when I worked somewhere for two years, and I have an ok amount split across two DC pots, but realistically I’ll need to work until 70 for it to be decent enough for an ok lifestyle and some older age care, and who knows if the state pension will even still be going then.

As soon as we buy our house I’ll get DH to start a pension, but money will be very tight for a couple of years before DS gets his free hours at nursery and we can remortgage. We may not really be able to afford another DC unless something drastic changes with regard to our incomes.

Botanica · 23/07/2021 16:09

I could retire today at 43 as have built up a passive income which is enough to live on, and a healthy final salary pension that will kick in at 60 on top.

I love my job though and enjoy working. So until that changes I don't feel the need to write, but very comforting to know that I could if I needed/wanted to.

occa · 23/07/2021 16:10

Never.

kikipie · 23/07/2021 16:12

I retired a few years ago. I'm mid 50s

We have some investments that give a reasonable return and my oh still works part time as he enjoys what he does