At what age do you plan to retire?

[LGDT]

50 seems so far away, but I know it'll come up like a sack of potatoes over the head.

Did you have kids to account for also? What was your investment plan?

My wife is good at saving & planning, but keeps going on about putting the kids in private school, which if we have 2 kids (1 at the moment) will be something like £20k a year!!

No kids - never liked the blighters and fortunate to find a woman who felt the same way. I guess that's the clincher.

Investment plan was get rich slowly. Started an EPP as soon as I started contracting in 1987 which I paid up 10 years ago. Maxed our PEPs and ISAs since 1987 and year on year increased the proportion of our income invested.
Most investment is in unit and investment trusts (some inside and outside ISA/PEPs) with a small amount held as cash on deposit in high interest accounts.

Paid off mortgage 5 years ago which released that money for investment too.

Current investment/savings ratio to income is around 66%. The 33% we're left with is plenty enough to live on, take regular holidays, drive decent enough cars and keep updated with the latest gadgetry. Net worth including the house (est. £320,000) around £900,000 I would guess.

Aiming to get that to around £1.6m.

[DimPrawn]

No kids - never liked the blighters and fortunate to find a woman who felt the same way. I guess that's the clincher.

Investment plan was get rich slowly. Started an EPP as soon as I started contracting in 1987 which I paid up 10 years ago. Maxed our PEPs and ISAs since 1987 and year on year increased the proportion of our income invested.
Most investment is in unit and investment trusts (some inside and outside ISA/PEPs) with a small amount held as cash on deposit in high interest accounts.

Paid off mortgage 5 years ago which released that money for investment too.

Current investment/savings ratio to income is around 66%. The 33% we're left with is plenty enough to live on, take regular holidays, drive decent enough cars and keep updated with the latest gadgetry. Net worth including the house (est. £320,000) around £900,000 I would guess.

Aiming to get that to around £1.6m.

Scrimp and save, retire and die within 2 years.

[LGDT]

Scrimp and save, retire and die within 2 years.

Not at all. I suspect this is the view of the conspicuous consumer that's destined to be a wage slave to 65. I've always viewed life as something where work comes a long long way down on my list of prioriteies.

I have everything I need. 3 holidays this year and one more to come.

Totally relaxed about life - apart from having the socialists in power. And I can solve that by moving offshore as soon as I finish.

Comes down to what you want. Contracting for me was always a means to an end. When I started in 1986 I had that 50 target as one of my goals - along with going to a football World Cup, RWC, watching an Ashes series in Australia, visiting the USA etc. Achieved all of these and I'm still on target to retire early. I guess I'm not a conspicuous consumer in terms of designer gear or flashy cars but then I'm not trying to impress anyone other than myself.

Looking forward to a life of playing golf, watching cricket and sleeping late.

[Churchill]

Looking forward to a life of playing golf, watching cricket and sleeping late.

You might want to try incontinence pants.

[lilelvis2000]

I thought about 50, but now I think...if I'm lucky to find work at that age..I'll just continue on until I'm dead. Shoot I may even continue using my laptop on my deathbed. I'll just remember to add in my will a clause to ensure the final invoice is sent out and payment recieved.

[Svalbaard]

I've been contracting since 1999 and it has easily been one of the best decisions I ever made. The current plan though is to leave IT contracting as a present to myself on my 40th birthday and then my wife and I are going to rent the house and slowly circumnavigate the world with our two children. I may choose to come back to IT if I need the money later in life but I may just stay on the boat and write yachtie articles for magazines. If I did come back to IT though I'd want to be fully retired by my 55th.

[Dark Black]

if you do that you wont get a job again
in IT, your finished at 40

Bollox are you - in permie world maybe....

Oh yeah and... your should be you're

[DodgyAgent]

. I went to a rubbish school, a crappy college and a poly turned uni..

It shows

[alreadypacked]

My plan is to work 6-9 months a year and take the rest off

[Old Greg]

It shows

DA learned his 'trade' at the Polytechnic of Life.