To ask when realistically your will retire?

[SleepDreamThinkHuge]

Do you think you can retire before 65?

And if you cannot retire before 65 do you think you will be able to work less hours (part time) topped up with your state pension and still afford life?

Anyone else think retirement will be a myth especially if you retire in the 2050s where the projection is that the retirement age will easily be 70 plus. The thought of people having to work at 70 is quite a sad sight.

Me and DH aim for 50. Sell up and downsize. Definitely will not be over 55. If we can younger we will

We call this his the “Oh Shit” fund. It’s a small savings account to pay for all of those things that make you say “oh shit”. I was a little embarrassed when I realized the bank teller could see that’s what we named the account, but she thought it was a good idea when I explained it. As soon as I use it for something I work to replace it.

I won't be retiring until 70 if my health holds out. I work in the NHS and my retirement date is 67, I need 10 years full time to get my full pension and I'll probably work on the bank for a couple of years after that as I'm a single parent and I'm helping my DS and DiL buy a house.
There is no way ordinary young people can buy a house now without help.

We got him involved in a gardening club (they do gardening for those that are unable to) this improved his well-being and he improved of course has slowed down given his age

some people need that routine and social contact (he is married and has lots of friends) it helps keep them physically fit and mentally well

Yes I’m definitely planning to retire around 60 if not earlier. I have a good pension and plan to boost it in the last 10yrs.

If you go from working to sitting in a chair then of course people will decline.

I am approaching retirement like work. I am already thinking about how to have an exercise routine, what events are happening locally each week that I will be able to go to if I find them enjoyable. I have already looked up local clubs and thinking that I need to factor in maintenance of the house and garden in my routine. To be able to do that in retirement is exciting rather than fearful.

I see elderly people walking on their own in the forest where I live which obviously keeps them fit. I also see walking clubs go by for those that want the social side as well. I am hoping to do both.

If you go from working to sitting in a chair then of course people will decline.

Except it is only on my working days that I am sitting in a chair.
When it is a on working day then I can walk to places I am going to rather than drive / go out to an exercise class / do some gardening / have time to do my own decorating and DIY rather than pay someone / go out and about to all the things I fancy (walking to many of them) rather than not having the time.

When I am at work - I sit on my chair at my computer all day.

Not sure
I retired at 55 from NHS took my pension and lump sum. I went back 16 hours per week to same job which love and l am now 60. We dont need the money DH sold his business just before Covod struck but he too has found a part time job which he really enjoys.
I will continue to work while mentally l am able to keep up to date with current changes and Guidelines- so far so good.

I'm 55 at at 57 I'm dropping to 4 days a week but semi retiring and claiming my NHS pension as a senior lecturer and at 61 I may retire or may do 2 days a week if it's looking possible.

I've got options anyway.

Kite22 I am actually in the same boat and will be much fitter and healthier when I retire in hopefully 3 years time.

My post was in response to those saying people decline physically and mentally when they retire and thus deduce you need to continue to work. If you are used to someone dictating your 'working day' and go to nothing then that might happen. I know my DH keeps saying what he intends to do in retirement and even I am wondering how he will fit it all in 😁

I retired almost exactly a year ago, at 57.

Not declining! DH and I do a lot of interesting things and I volunteer 2 days a week. Work was damaging my mental well-being. No regrets.

Mortgage will be paid off at age 56 but I have no private or company pension

I am 60, I will have to work until my employer won’t let me work any longer.
Then I will no longer be able to afford my rent and will become homeless. I, hopefully, will die quite soon after retiring.

I'm sorry to hear that. Would you not be eligible for housing benefit?

Housing benefit...council tax benefit .

.universal credit .....assuming you are in the uk

Somewhere between 60 and 65 I think. Am late 40s now. No mortgage now and some funds in place for the kids in terms of uni fees/house deposits due to inheritance so I don't feel a huge pressure to have to fund that. I have an 'ok' private pension, savings and when the time comes a topped up state provision as does dh.

Realistically plans will change when my mum passes on. She is in her late 70s and full of the joys of spring so I deffo hope she's still around!

But I am her only child now and she is very open that everything will be left to me and how much there is. Her care needs are the priority but anything after that will fund me in reality.

I have had a career break and been p/t in an "easy" job for some years now and I'm now returning to my actual profession and fully intending to work until 70 at least. My finances are a bit complicated at the moment and the state pension is unlikely to be much by then, but fortunately in this line of work it is not unusual to continue working in some way well past the usual retirement age.

placemarking

I retired from NHS at 55, state pension is 9 years away at 67. However, I dont think I will get a state pension. I have always thought that. I think the national finances are in such a dire state that the state pension will be means tested. It doesn't matter that I worked and contributed in full, it just won't happen. Watch this space.

I'm 43 and planning on 55. I've been overpaying into my pension since 2002 after seeing my grandparents having a wonderful retirement and spending winters abroad.
The plan will probably be to do bits of work here and there to top up the holiday fund and possibly buy into a mate's property rental business.
DH is younger so might not retire at the same time, but I'm an accountant so worst case scenarios are built into my spreadsheet model

Yikes, I do hope you are wrong about that! Simple maths tells me I am the same age as you and also due state pension at 67. I have private pensions too, but at current forecasts, the state pension will be 40% of my income. It’s also the only component which is truly inflation proof, since all my private pensions have a cap on the amount of index linking.

Gosh, I hope not. I’m 56. I will have a smallish private pension but the state pension will be by far the major part of my pension -about 80% of it.

I intend to retire at 60 but will then want to swap to part time work which is less pressure. 2.5 years to go!

This a a good compromise...I now work 2 days week and with my pension am not much worse off

I retired a 60. I’m no worse off than when I was working and paying a mortgage.