What do you think about retirement and when will you do it?

[Epona]

View attachment 359213

I quite enjoyed the film inspired by that advert - Safety Not Guaranteed it was called.

 

[The39thStep]

I quite enjoyed the film inspired by that advert - Safety Not Guaranteed it was called.

I loved it . Especially his prosthetic ear .

 

[Pickman's model]

I am just in the process of reporting those first nine words to AmateurAgitator

Oh they're not my line manager

 

[The39thStep]

Oh they're not my line manager

Save the excuses for later , pal.

 

[Epona]

I loved it . Especially his prosthetic ear .

I'll watch any film involving time travel and that was one of the good quite "out there" ones.
Also liked Primer and Time Lapse as time travel films go.

 

[Pickman's model]

Save the excuses for later , pal.

 

[Pickman's model]

I'll watch any film involving time travel and that was one of the good quite "out there" ones.
Also liked Primer and Time Lapse as time travel films go.

Have you read Stephen King's 22.11.63?

 

[farmerbarleymow]

I'll probably have to work until I'm 70

Have to hedge my bets given my dad died just after 60 - good old longevity bingo.

 

[pinkmonkey]

I've been freelance 20 years and I'll keep working if people want to pay me to. I joke that I retired in 2003 cos that's when I went freelance.
Dad (also self employed) stopped aged 86, our accountant is 87. But we all have jobs that we love and are still doable by older folks, not everyone is that lucky. I disagree with moving the pension age. My work pensions are shit . I was only in FT employment for 13 years, but at least one of the schemes was a final salary scheme. I think they're worth about £6k pa

 

[eatmorecheese]

I have a local government pension, but no plans. I'm convinced I will die in harness.

 

[Epona]

Have you read Stephen King's 22.11.63?

I haven't, I used to be quite into Stephen King in his classic days but lost interest in his more recent stuff - if that is a recommendation, I'll grab a copy from the library next time I am there!

 

[RubyBlue]

i was chatting to one of my managers recently and she said you can see how much state pension you'll get on the gov.uk site. so i had a look and found there were eight years i don't have enough ni for, all of which were when i moved from dole/being a student to low-wages. so i'm looking at £185 a week when/if i retire. plus a pitiful pension from work, which will be rather less than £185 a week, maybe £50 a week. if i'm lucky.

Oh? That surprised me as I thought she would be on a pension for a library head? Forgive me if I’m wrong, I’m not only guessing but I clearly don’t know.

 

[Elpenor]

Yeah I am missing quite a lot of contributions too, I've spent quite a lot of time kind of off-grid as it were (not working, not claiming benefits, no ID).
I have a wedge paid into the old-style civil service pension scheme on top of that but not sure how much that will work out at per week.
Quite frightening really, but on the upside, even a small pension would be more personal income than I have right now.

I'd like to make up some of those missing contributions before I hit statutory retirement age though - as I am 51 now that could be another 25 years by then ffs.

But yeah I cannot wait to actually be retired, let's just hope that with the rising retirement age I will actually make it that far.

i saw something martin lewis put out about being able to pay missing years, but after a certain amount of time you can't do that. all my years are in that category. if yours aren't yet it's apparently £800 a year: but that relies on having £800 to put into the fund for later.

See this post and subsequent ones in this thread for what is hopefully useful info on this subject it’s less than £800

What's your total annual income - anonymous poll

 

[muscovyduck]

Well I'm in my late 20s so I'll come back in 40 years and let you all know

 

[contadino]

Quite a heartening read. Quite a few enjoy their work and are flexible about early or late retirement.

I'm in the latter bracket. I suspect I'll reduce my hours and keep ticking away until I pop my clogs. I'm 53 now and work 4 days per week. Any more pay rises and I'll drop to 3. The idea of just not working fills me with dread.

 

[Elpenor]

Didn’t start saving for a pension until I was 30. Have a private pension which will pay out a bit, definitely less than what the state pension will. The benefit of that is it’s accessible at age 58 I think.

I’m 41, and I joined LGPS at age 40 1/2, I think I’ll aim to accrue 25 full years in that (don’t plan to change jobs as I have very good job security and like what I do) and try and go at 65 and a half, maybe on a flexible retirement basis like marty21

Retiring in the spring seems better than the winter I think. Longer days and better weather to ease the transition.

 

[Shippou-Sensei]

I'm currently paying into the mortgage of our house in Brixton. It's big enough to be split into flats.

Given I'm single I may be supplementing my teachers pension by renting out parts of the house.

Depending on circumstances I may scale back my teaching as I get older. I'm about 15 years into teaching and not sure if I can do 25 years more of FE.

 

[Maggot]

I'm about 8 years away from retirement age. Lucky enough to enjoy my job, easpecially the social aspect and the exercise. So will try to carry on for 3 days a week if I can. No idea how big my pension will be, have only been in my job for 10 years, so that pension will be quite small.

 

[petee]

i'm thinking of it, esp. since i reached "a certain age" last june. i'm mostly miserable in my work anymore, but i have a huge amount of social contact as a schoolteacher which would drop dangerously if i left. i'm earning proper money now, so am tempted to go a little monger, esp. as i spent my 30s living on stipends so i could use it, and i appear to have won the longevity bingo - my parents' average age at death was 94. will i have enough?

i won't be bored, frankly i'm champing at the bit to get to other things. that impulse may win out in the end.

 

[Cloo]

If my health holds up, I'm presuming I'll retire around 70 unless I somehow manage to make a hell of a lot more money before then; my job isn't that taxing and I can probably drop down to something manageable in my final years of working. I'll probably want to keep working as I'd not be great at retirement, but I would want to retire in time to enjoy travelling or something because unless you're some mega health and fitness fiend, and I'm not, I think one's ability to do things totally goes to shit once you get past about your mid 80s.

A guy I worked with in my last job did trundling towards retirement well - although it waspartly because of being made redundant from his job as a journalist in his early 60s and it took him almost a year to find another job which he got where I was working - entirely ageism I'm sure about not getting anything sooner. But the job he had alongside me used all his skills, was 4 days a week, very 'gentle' work and not badly paid and he retired after about 6 years. So I can only hope to land something like that in my 60s.

I think I'll manage an OK pension, but may be largely relying on downsizing just pre-retirement and creaming off the profit from a sale.

 

[SpookyFrank]

I think I'll just die tbh. No kids to look after me but also no kids to stick around for, no grandparenting to do.

I got my retirement in early by spending my 20's doing as little paid work as possible, back when there were still some ways to get away with that. I did this on the assumption that there were two possibilities for what the world would look like by the time I was old. Firstly the economy, the country and the world at large could have degraded to the point where the closest thing to a state pension available is a free bus ride to the soylent green factory. Secondly we could have sorted the whole thing out and created a full-communist/co-operative/green anarchist/delete as appropriate utopia in which people are looked after because they're people, not because they never once chose to opt out of class 2 NIC's so that they could opt in to paying the gas bill instead. What I cannot imagine is the prevailing social and economic system lasting another three decades and my state pension forecast actually turning out to have some bearing in reality.

So while it's a worry, pensions and that, I consider it an irrational one. A bit like worrying about the prospect of your sandcastle going into negative equity instead of acknowledging the fact that the tide is coming in.

 

[marty21]

I don't want to give people any funny ideas but Mrs Tag often says I am not allowed to retire as she wants my death in service payout.

Crafty ! Mrs21 used to have the death in service benefit , I'd have got £80k if she died whilst working. Now she's retired , she'd get the 80k if I die whilst working

 

[The39thStep]

Well I'm in my late 20s so I'll come back in 40 years and let you all know

UrbanYouth Section

 

[marty21]

I love the idea of not having to work , Mrs21 had a much more stressful job than mine (although mine has some stressful stuff) and is loving not working , is OK money-wise , and zero work-related stress

 

[editor]

I want to work until I drop. Really. I can't stand the idea of traditional 'retirement.'

 

[farmerbarleymow]

I'm convinced I will die in harness.

Make you remember your safe word, or write it down if you have to.

 

[Puddy_Tat]

Crafty ! Mrs21 used to have the death in service benefit , I'd have got £80k if she died whilst working. Now she's retired , she'd get the 80k if I die whilst working

ah yes, the letter round april each year that tells you how much you're worth if you drop dead. i'd forgotten about them...

 

[Elpenor]

Well I'm in my late 20s so I'll come back in 40 years and let you all know

Depends if you get through Carousel when you turn 30

 

[Epona]

I want to work until I drop. Really. I can't stand the idea of traditional 'retirement.'

You do fun things for a living though, the sort of thing that most of us would like to retire in order to have time to do!

If you were sitting at a desk in an open plan office working through forms with petty managers watching on and office politics in full swing, or in a factory making electronics components or packing doughnuts into boxes, and that was all your working life had to offer you, you'd want to retire as soon as you could.

 

[Thora]

I don't think retirement will be a thing in 30 years time