How close are you to retirement?

[BolshieBastard]

Hmm, had originally intended only being in IT for a max of 10 years when I started in 97. After the last downturn in 2004 decided to try something different and get out altogether.

Turned out to be a complete disaster and in fact, ended up feeling I'd been ripped off to the tune of 70k.

So, back into IT again just 18 months later to start all over again. I now wonder whether to stay in IT or try something else again but, what!?

That said, the last 4 - 5 years have been good for me in IT so have built up a good stash again. I wont be 'investing' it in any other plans though.

Looking forward to finally retiring in 7 years but to be frank, that looks a way in the distance right now.

[DieScum]

Well retirement is a good way off for me. Would like to retire before I'm 55. I'd also like to take some mini-retirements before then as well.

Question for the older guys. From your experience how would you recommend the younger ones position themselves for retirement?

So, for instance, if you've done well and are all set to choose whether to retire early what did you do right to set yourself up? Conversely if you are going to have to work till you drop what you go back and change?

[Diver]

Then why hasn't your login been revoked

I'm special

I always remember my mum saying "No he's not! He's just special"

[Doggy Styles]

Two things I'd do that I didn't:

• Worked for public services
• Saved and invested all the money that I spent on crap over the years

[DieScum]

Know what you mean Toolpusher. My Mum died at 62 after retiring on medical grounds and damn she worked hard. She had no chance to really enjoy a retirement. Last big thing was a trip to New Zealand to see family but she was almost too ill to enjoy it.

[Doggy Styles]

Other things that have worked out in my favour (financially, at least) are having a working wife on a good salary, and not having any children.

True, I'd be well off without kids.

[SuperZ]

For the records, I'm 43, and I could retire now. However, as I mentioned in my reply to Diver, I just can't wrap my brain around the idea of spending all the money I've spent so many years saving up.

I've been on the bench for almost a year now, but (in the words of Peter Gibbons in Office Space), it's not that I'm lazy, it's that I just don't care.

I even interviewed for, and was offered a permy position, at one of the big consulting firms, but turned it down because I just wasn't interested.

I'd have a similar problem. If I find myself in a situation where I could retire I would lose motivation to work very easily especially in a perm position. If I can continue earning decent money until I'm 43 I think I would be in that situation also, especially if Plan B works out (find a wealthy partner) - ha ha ha .

[Zippy]

For the records, I'm 43, and I could retire now. However, as I mentioned in my reply to Diver, I just can't wrap my brain around the idea of spending all the money I've spent so many years saving up.

I've been on the bench for almost a year now, but (in the words of Peter Gibbons in Office Space), it's not that I'm lazy, it's that I just don't care.

I even interviewed for, and was offered a permy position, at one of the big consulting firms, but turned it down because I just wasn't interested.

As I keep saying to my wife, the best position to be in is the one in which you can make all your own decisions. Once someone else starts making decisions for you, you've pretty much lost control of your own destiny.

The reason you 'don't care' is because you have been on the bench for such a long time. Do you know what you would do(that would make you happy) if you didn't work any more? I do but it would require so much money it just wouldn't be possible (and no, it's not getting pissed and watching the tv).
Keep working and retain control over your future.

Just my 2 cents ...

[Zippy]

I'm actually pretty content not doing much all day! I could happily continue not doing much forever.

The problem with my particular speciality is that the challenges no longer exist. The market has become flooded with contractors who are willing to lie to get a contract, and who have no problem accepting rock-bottom rates. This situation is not helped by clueless clientcos who are unable to recognize good talent. They operate purely on rate alone.

As a consequence of this change in the marketplace, expectations of everyone involved in the whole chain (clients, agencies, contractors) have been altered to the point where I no longer have the motivation or enthusiasm to continue doing what I have been doing for most of my working life.

What else can I do? I don't know.

Is there anything that interests me? Nothing yet.

At least I know that going back to permiedom (as a big-6-type consultant in my speciality) is not an option!

I'm still waiting for that flash of inspiration to get me moving again. Until then, I'll just continue not doing much.

Oh dear I hope I didn't offend you. Sorry if I did.

You'll find something to get you going again.

[Tarquin Farquhar]

How long is your Bucket List and how far are you from completing it?

Nice-to-do is as long as you like. That is why I was stunned at how little I did during the recent bench period.

Must-do is pretty short in words but long in doing: item 1, see the rest of the world.

Biggest problem is not advancing in the list, which is why that was a good question. My question in return would be: are you getting better at realising at the time when you are doing something that should be on your list? What made me think of that was the item "spend a week in the Louvre". I once spent a 3-month contract at Crédit Lyonnais literally just across the road from the Louvre. I got a season ticket and spent every lunchtime in the Louvre, sometimes spending half-an-hour sitting looking at one painting. And, happily, I knew at the time that this was an opportunity not given to many.