Retirement, would you if you could?

[houblon]

The Spanish have a much better word for retirement , jubilación

French call it 'retraite', which is even worse.

I've just 'retreated' from full-time work, crap timing eh! I'd always thought I'd celebrate with some 'jubilación' and a few months cycling in some mountains.

 

[Deleted User]

19000 x 13% = 2470.
150000 x 1.5% = 2250

Here we go again, rates aren't 1.5% for starter's they're nearer 4%, you need 10% deposit normally now, interest rates dropped to around 10% and pretty much kept falling from '91 on so again that makes today's houses more expensive to buy compared to then.

This is all I was saying.

 

[Slick]

Here we go again, rates aren't 1.5% for starter's they're nearer 4%, you need 10% deposit normally now, interest rates dropped to around 10% and pretty much kept falling from '85 on so again that makes today's houses more expensive to buy compared to then.

This is all I was saying.

Nearly 15% in 89.

 

[Brads]

I can never understand why anyone would want to work longer than they need to. One poster here even said they were defined by what they did as work.
That is incredibly sad imo. I'm defined by my whole life.

I'm 53 and am retiring at 55 if not sooner. I am now planning my new work free life and am taking no interest in anything at work. I'm there because I have to be and am there as little as possible. Every chance I get, I'm off and spending time doing what I enjoy.

Someone also said they worried about the folk that retired and died soon ! ?? that's backwards, you should worry about dying without having enjoyed a retirement. They would have died at work if they kept working and that really is something to worry about.

 

[oldworld]

To answer the OP and not talk about my situation, far too many people, at an age when they can retire, have zero ideas what they will do. Often far to busy earning a living/furthering their careers.
If you're on this forum you've already got a head start. Planning and getting ready to retire needs some idea of what hobbies, pastimes, sport, learning, volunteering you can and would like to do when you have a lot more free time.
It's boredom that kills newly retired folk who find the days are endless and have no purpose.
My FIL was a perfect example, never did anything other than work and watch TV.

 

[Deleted User]

Nearly 15% in 89.

My mistake meant '91.
What's your thoughts on the other points I've made?
Need a deposit of 10k.

Current mortgage rates nearer 4% not 1.5%.

Still think houses are as cheap to buy now as in the mid .80's?

 

[lane]

I can never understand why anyone would want to work longer than they need to. One poster here even said they were defined by what they did as work.
That is incredibly sad imo. I'm defined by my whole life.

I'm 53 and am retiring at 55 if not sooner. I am now planning my new work free life and am taking no interest in anything at work. I'm there because I have to be and am there as little as possible. Every chance I get, I'm off and spending time doing what I enjoy.

I am quite like that, but for some annoying reason, I still can't seem to help taking the job very seriously.

 

[lane]

One thing in the past inflation and consequently wages rose more quickly than today, so the mortgage payments became less onerous.

 

[lane]

There’s a whole hobbies forum (plus the retirees thread)

I could spend more time exploring the forum!

 

[Deleted User]

One thing in the past inflation and consequently wages rose more quickly than today, so the mortgage payments became less onerous.

So cheaper still then?

 

[midlife]

One thing in the past inflation and consequently wages rose more quickly than today, so the mortgage payments became less onerous.

Yep, forgot about that. Inflation / wage inflation goes a long way at reducing the percentage of your salary you pay over time.

 

[lane]

So cheaper still then?

Less as a % of your take home income

 

[midlife]

So cheaper still then?

I think wages have been pretty stagnant over the last decade so not the huge impact it used to have.?

 

[houblon]

It's boredom that kills newly retired folk who find the days are endless and have no purpose.

Being bored at work was killing me. I'm enjoying a finer variety of boredom now.

My next door neighbour has been retired a few years. I told him I was retiring and he said: -the thing is, when you have a job you get days off. When you're retired you don't.

 

[PK99]

In answer to the question, yes if I could retire and be financially ok I would.

I don’t understand multi millionaires who keep working when they have no need to. But I guess their work ethic is what got them there in the first place.

The best advice I ever heard from a Financial Advisor was that everyone has a switch inside their head that for most of their life is set on "Accumulate", at some point there comes an option to set that switch to "Spend" - and far too many people continue with it on "Accumulate" for too long.

Once that point is reached, the only reason to stay working is if the work itself is intrinsically interesting or has a great societal value.

I'm forever grateful that we had the option to knock work on the head early and feel for folk who need to grind on and on.