When do you intend to retire?

[PurpleGorilla]

If you have low outgoings it is manageable on a good but not massive rate.

Fair play mate!

Wish I could have gotten in the game a few years ago.

[speling bee]

Fair play mate!

Wish I could have gotten in the game a few years ago.

I did work like a bastard for the first three years.

[PurpleGorilla]

WHS. Working 2-3 days a week will probably give you the same take home as a permie in an equivalent role (after you've got your warchest sorted, and stay in contract pretty much all year)

Warchest + family house deposit = full on working week :-(

[PurpleGorilla]

I did work like a bastard for the first three years.

Amen to that!

[d000hg]

I can't think 5 years ahead, let alone 25.

[vwdan]

I CBA with a massive push to retire early. I'm currently contracting full-time but I have worked a lot of 2 to 4 day per week contracts over the last few years, to spend time with the kids while they're still tiny. You don't get those days back when you retire. And I don't fancy a heart attack or stroke, either.

My "business plan" is predicated on working 8-9 months a year for that exact same reason, which is why I am more included to go part time early rather than fully retire.

That's my view too. I'd rather enjoy life now than bank on being healthy and able to make the most of things in 30 years time.

These all the way for me. Mind you, I'm still under 30 so retirement feels like a long way off. That said, I've started to ramp up our planning but that's mainly in case something goes wrong and I'm forced to retire. I have plenty of hobbies, but short of travel, I'm not actually sure what retiring would look like for me. Part time perhaps, or lots more time off, but I doubt I'll fully retire before I absolutely have to.

And much as it pains me to agree with ScooterScot, I genuinely enjoy my work.

[lukemg]

I can just about afford to pack it in now but I won't be bailing yet (the NUMBER is close depending on 25x or 20x expenses calc)
What I will do is be more choosy, probably not look very hard for work and just see what turns up from contacts etc.
Quite a comfortable position to be in, I would hate to be 3 months from disaster as many people are.
Not got any definite date in mind but expect to be winding right down around the age 55 mark.
My crew seem to do 3score and 10 and then it gets interesting so want some time off !

[tomtomagain]

You should be planning for a return of around 4% from your pension / investments ( over the long term, forget any short term bubbles ). So you'll need to have about £1M of assets to generate somewhere in the region of 40k per year.

If you retire early? Say at 45 or 55. What would you do?

[speling bee]

You should be planning for a return of around 4% from your pension / investments ( over the long term, forget any short term bubbles ). So you'll need to have about £1M of assets to generate somewhere in the region of 40k per year.

If you retire early? Say at 45 or 55. What would you do?

Does that leave the £1M asset still there at death, or does it assume spending it as part of the 4%?

[original PM]

probably around 50/55

my main concern will be that I will just spend all day at the glof course or in the pub (or both) and I do not even play that much glof now.

the thought of sitting around the house while the wife nags on about god knows what scares the living hell out of me