What are your (dreamy) retirement plans? (bit of fun)

[Sauerkrautsandwich]

Spoke with friend about retirement, both mid 30s, and our ideas fundamentally differ for various reasons including DH and I being childfree. Mainly because I plan to "spend it all" while she thinks of staying close to her kids (fully understandable) and downsize to nice small house with garden to help with deposits, save for Dgcs.

I am good with money so managed to actually save and gain even on low and low-ish wages, in few years my salary should go considerably up and DH's business should be fully established, profitable and taking care of itself. Plus by our calculations we should have few small investment properties by that time as well. We recently relocated to new country to help that (immigrants to UK from 2 different countries).

My "dream" plan. 😁
At 55 (DH60) latest sell own home and some investments and move to nice, quiet, good food, fresh air place like... Montenegro! DH vetoed Turkey...
Travel, travel, travel for first 5-7years, Japan, Mexico, Thailand etc for a month at the time. I checked and monthly studio rental can be same price as hotel for 2 weeks. Rent our Montenegro house out during that time to cover some expenses if needed or sell more investments. Wind down, grow your own veg, maybe buy chickens (I always wanted chickens!) travel more locally, enjoy life. Sell Montenegro house, spend it all on some last fun and dieing in peace in Switzerland.

Wallace, DP is from Senegal

As in born there and has a Senegal passport, but has lived most of his life in the UK. Not sure why you are wanting to know about our circumstances though?

In reality DP might spend a bit more time out there than me. I have an adult child and may well be a grandparent at some point, so may be coming back more than he will. We don't fully know the ins and outs of it all yet, I'm sure plans can be as fluid as we need them to be.

This sounds like the sort of dream I haven’t thought to dream yet! A way off for me to retirement but I could certainly imagine doing something like this.

I don't need to know your personal circumstances, just interested in the visa situation for different parts of the world. I know a few people thinking about 'spending the winter' in warmer climates when they retire but obviously there are restrictions and I thought you would probably have already looked into this so able to pass on knowledge to others.

Your DP would presumably be able to come and go as he pleases but I assume you would need a visa of some sort unless a non married partner can be classed as a dependent? Anyway, something to think about for all us thinking about visiting abroad for more than 90 days a year.

For some of us it's so far away that visa have no play yet. It can be completely different even in 5 years. I am not worried about that for DH, hoping to get him EU passport somehow event. I have quite a good number of countries covered by my passports😁

Those without kids, do you plan on "spend it all" or are you planning to leave something to relatives?
We thought about it but disparity of neices!/nephews between us, with me having 1 and him 20+ is bit difficult so we just... Not planning to really leave much at all

Interesting question that I was pondering last night. One DB has step children who are more than adequately provided for by their DM's family (think trust funds) so while I'd leave him money I see no reason for it to be passed to adults I barely know. Other DB and I weren't in contact for years so I don't know his (now teenage children) at all. They also have a well-off mother so same issue about leaving it to that DB.

Looks like charities and friends are in for a substantial wedge 😄Or I might just live high and wide and leave nothing at all.

Yeah. From my side the one will be well provided for considering sil is (sadly now) only child. DH's are at different income levels but splitting not that much between so many fairly would be absolute headache and cause friction.
Might just leave will to leave it to village we will end up in😂 If they are nice😂

Glad you posted this as it reminds me to dream big rather than settle. Intend to spend it except to the extent we ever inherit (unlikely) in which case we would regard that as family money to be passed on.

We'll be spending and anything left over will go to a cat charity (we are cat people in case you can't tell 😂).

My DB, BIL and SIL are all childfree too so they probably have similar plans and won't need our money.

I am thinking depending on country's intestacy laws, our relayives might have to do some paperwork. Actually that's something to think about.
Where I am from you can't just leave "rightful heirs" out (unless you meet the legal reasons). I wonder if that goes cross border. Hmmm. Will see when we land somewhere

Wallace we are married, I just refer to him as DP out of habit, sorry should have said. Sorry for the knee jerk, have just come across people who try to piss on my chips with my plans and hopes so it makes me a bit defensive at times.

Love reading all the big plans. I hope to retire in about 6 years time. I'm leaving it open for now, my parents live in a far off (to me) part of the country so not sure how that will pan out re needing to be close to them.

My retirement plans are somewhere close to the gif in the first post!!

In all seriousness though I'm bloody hoping mortgage paid off by 55.. time to move into a really lovely over 55s type area - you know the ones with the allotments and gyms and pools, which I'm hoping by then will be a real choice for lots of people just like me.

I can get to know some lovely people (I hope) and get my feet under the table. If my nieces want to stay around then great. Early retirement if I can, and then just live every day doing the lovely pottering type things. Nothing massive, just every day being content.

Honestly, the best thing about retirement in my mind, would be knowing you have guaranteed money coming in. Imo the worst thing about working is the threat of redundancy and losing job and then having bills to pay and no income. It would be bliss to not worry about that, even if the pension received is relatively low.