To ask for examples of living contently in retirement

[MrsEdithOrme]

On a modest income.

It could be you, your family or friends.

DH and I won't have gold plated pensions or huge pension pots so I'm looking for positive stories.

I was a pre-retirement trainer for a few years. The other day, I found this list of questions that I used in some article I wrote somewhere. I think it was titled: How do you know when it's time to retire? Might help someone to make the leap...

1. Work has begun to interfere with all the many other things you want to do - fitting them all into weekends and holidays is becoming more impossible or unpalatable.
2. Life just seems too short to carry on working.
3. You crave your freedom.
4. You want to have control over your time.
5. You want to retire while you still have the health and strength to do everything that you enjoy.
6. You have a sense that you would regret continuing to work full time if you did it for much longer.
7. Your gifts and talents are not being fully utilised.
8. You're not even sure what your gifts and talents are!
9. You are prepared (and able) to lower your overheads if you need to.

10. The kids are finally off your hands, the mortgage is paid off and your debts are either paid off or well under control. 11. You would be able to cover your spending needs if the condition of your health changed. 12. You have successfully lived on your projected retirement income for the past six months. 13. You know you could do your job perfectly well until you die, but you're no longer happy or fulfilled. 14. You have plans for what you will do with all that extra time. 15. You have a plan for turning your hobby into a business but don't have time to pursue it whilst you're still working.

My travel/holiday tip would be to look out for deals to somewhere sunny in the UK winter so you can get a bit of vitamin D, sun on your face. It’s easier to get out walking every day in the mild sunshine than when it’s grey and miserable or dangerously icy at home and good for mental health too. Doesn’t have to be anywhere exotic, we go to southern Spain and rent a small apartment.

My parents live pretty well in retirement and my father was the bread winner. He didn’t earn much, it was about £35000 20 years ago.
My mum did small admin jobs around us kids.

They are 67 and 76, have lots of holidays in the UK and abroad, paid off mortgage many years ago, lots of savings.
They invested a lot in premium bonds over the years.
I do kinda know how they did it though, we lived frugally when I was young. Meals out were rare they didn’t drink , our main hobby was walking everywhere and my mum always had free things lined up for us to do in the school holidays and we went abroad only once or twice.
Im glad , it paid off and we never went without.

I should add what they do. They both love walking and go to places for a walk and coffee and enjoy that kind of Uk holiday. My dad goes to a hieroglyphics class and socialises with them. My mum sees her friends at their houses or cafes, bakes , reads.
They love surfing the internet for a bargain, pottering about, they see their kids about once a week each. Sounds like a simple existence, but maybe that’s the point.

Retired early 50s
Mortgage free
Carer for elderly relative
Also volunteer for various local groups
Do the odd seasonal bit of work here & there (within carer limit)
Do car boot sales, auctions, market place
Have found free things to do

Eg
Free cinema tickets
Free National Trust tickets
Free food (if volunteer at certain events locally)

Have classic camper van & other vehicles which are cheap to run

Cheap holidays avoiding school holidays

We took early retirement about ten years ago, both having had demanding public facing jobs. Our mortgage was paid off, our only child launched with her own home and family, we had some adequate savings, so it seemed a good idea. Our income is two state pensions and three occupational pensions which are quite small. We manage absolutely fine and have our various treats when we want them. We don't travel abroad, just not interested in the hassle of airports, etc.

We moved house about five years ago to be nearer our daughter and it's fantastic. The novelty of our new area hasn't worn off yet. I see loads of the grandkids and we looked after the first one a couple of days a week pre-school, so have a fantastic relationship. We're in a lovely friendly and very laid-back village and use the public transport to get to the nearest city. I prefer this to driving. My husband volunteers and when I'm not helping out with family I'm gardening and growing my own plants from seeds and cuttings. We visit the local library twice a week, their catalogue is fantastic and you can order books that way.

I occasionally lunch with friends and have local days out with my husband and sometimes my daughter and the children, especially in the school holidays. Our eldest grandson likes to have a play-date over here about once a month.

I love the fact that life ticks over calmly and peacefully in the main. Retirement is great for having that peace of mind. The main thing of course apart from finances is your health, you do become so aware of the clock ticking when witnessing friends and family's health struggles.

Do I live contently in retirement ?

I do not miss working (had a good career & worked long hours)
However, is not my first choice to be a carer, but I try to make the most of my current situation
It restricts my freedom (especially travel freedom)
I have had the opportunity to try some new things since I have retired, that I had not predicted which have been interesting

Pros & cons

Well that's not a modest income It's more than many families have working full time

Can I ask where you looked to find a cheap one that did the job?

I’m 66 and live quite comfortably on a monthly income of around £2000 after tax. That include State Pension, Private Pension and board from my adult son who lives with me. I made additional contributions to my private pension and paid extra off my mortgage once my kids were no longer dependent on me which allowed me to take voluntary redundancy at 58 with just a small pt job till I reached 66. I took the maximum lump sum from pension. I was able to pay off mortgage and gradually refurb my house and garden. I’m very happy in retirement and never regretted retiring

Hatty65 My DH is retired ,we are still waiting for mine! 66 1/2 for me another couple of years to go. I am hoping to go to Canada for a big trip (been before) to see my friend .However ,I was diagnosed with Ovarian Cancer last year. One hystorectomy and 6 sessions of Chemo later in remission .Insurance is through the roof .Like dog walking,just popping to M and S ,pottering and days out National Trust ,Beach.local towns nearby .Take a packed lunch and have a cake /coffee when there. Shop E bay for clothes .Half price dress Monsoon worn twice coming next week! Like baking /colouring/drawing .Drives out ,Meals Harvester /local pub .Staying with friends .Trip to Edinburgh .DD getting married there making a holiday of it .Life is what you make it .

To those who are only in receipt of the state pension, no private pension at all but are renting, how do you manage to pay rent as well as everything else? I'm only going to be receiving state pension and it will be a stretch to manage on that alone to pay all bills, food etc I can only imagine how hard it would be to have to pay rent also from it.

We are both retiring in December. I've only worked casually for 8 years from 58.
We will go away every month for a few days...no " big" trips as we only like northern hemisphere.
Mortgage free, db has his garden and cycling, I do the gym .
We love eating out, gigs, galleries and exhibitions, reading and netflix! Our best friends who live 250 miles away are retired but 6 years younger...we see them a lot as we like the same things.

@ViciousCurrentBun: "You could schlepp to Iceland when over 60 on a Tuesday for 10% off"

Ooh, tell me more! I visited Iceland a few years ago and would love to go back, preferably in the summer. (We got a good deal from IcelandAir, but everything was so expensive.) 10% off (I'm well over 60) would be super. 😀

PS Enjoy your retirement, OP.

If a person only has state pension & they rent

They can apply for housing benefit & council tax reduction from the council

Some people can also apply for Pension Credit which provides extra income & some extra benefits like
Free TV licence
Winter fuel allowance

https://www.gov.uk/pension-credit/eligibility

@TeachMeSomethingYou definitely don’t sound as if you have a boring retirement! An apartment by the sea which takes 5 minutes to clean, great neighbours and time to study, read and choose what to do each day - that would be a dream for most!

I think @ViciousCurrentBun meant Iceland the supermarket rather than the country... the supermarket gives a reduction to the over 60s on a Tuesday

Damn.

@IsabelleLeduc Your retirement sounds largely similar to mine. I’ve just come home from seeing a cheap matinee film ( which was excellent, plus I was the only one in the theatre) and now sitting in the sunshine having a cup of tea. I love popping out to places and taking mini-trips to non-touristy places and finding hidden treasures, as well as pottering at home. And knowing I can choose my day’s activities is bliss. We too have excellent public transport and discounted or free travel.

I also volunteer for my church and a charity which I love and which have given me deep friendships.

I went very part-time on a small pension before fully retiring so it wasn’t, strictly speaking, early retirement. I also have a dependent AC ( SEN) but the situation is well-managed and shared.

Drat, I was just about to book my Tuesday flight…😛

@LavenderLavenderBlueThank you for that information.

I agree with @HeddaGarbled and others on P1, that some of this depends on your expectations, and what you are used to.

My parents, for example, only ever had any sort of takeaway (lets be honest - fish and chips) once for a treat on holiday at the sea every year, and if they were moving house or decorating.
Whereas my adult dc consider it normal to have some sort of take away every week.
Right there you have different expectations.
Same with a day out - picnic vs 'We'll buy something there' thinking.

Then your interests. Someone who loves being outdoors, hill walking etc doesn't have a lot of expense beyond petrol to get there. But people who like theme parks or who feel the need to go abroad a lot will have different outgoings.

Some people are interested in life and in people and ready to take up new hobbies, groups, volunteering etc, whereas others choose to keep themselves to themselves and perhaps aren't brave enough to go and try new things - that is going to impact on how happy you end up.

But, I also agree with the posters who are saying that some people are naturally more 'content'. Some people look for the good in everything and set out to enjoy life as it is, whereas others tend to have one eye on what they haven't got. I think this remains the same whatever stage of life you are at. For some people, the peace of not being at anyone's beck and call is what makes their retirement lovely, although it isn't costing anything.

I think in the UK we are very lucky to have the NHS. In many other countries getting sick in old age will bankrupt you.

In the US, it might, but it certainly won't in most of Europe. A very dear friend, same age as me but obese etc, UK citizen, resident in France and paying the normal rate of healthcare top up as a French citizen would be paying on an equivalent income contribution, which is probably 150+ euros a month, had every intervention the medics could manage, in the best hospitals and even so, he still died, AS DO WE ALL. We all die, eventually.