Enjoying Retirement
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That sounds more feasible. There are some exceptions but your pension likely has two thirds for a spouse. This is relatively generous and gives it a higher valuation.
Finally, are you sure there's no GMP in there?
Taking it pre NRA can affect whether you properly benefit from a probable 6.25% revaluation rate due to GMP franking. In short, taken at 62 you can sometimes see a step up at 65 when the GMP age for men kicks in, effectively masking the true long term potential of your DB pension.
I say this because those muktiples seem high enough to be hiding something. If you have the breakdown of how much is in each tranche and their respective revaluation rates I may be able to offer further comment.
Finally, are you sure there's no GMP in there?
Taking it pre NRA can affect whether you properly benefit from a probable 6.25% revaluation rate due to GMP franking. In short, taken at 62 you can sometimes see a step up at 65 when the GMP age for men kicks in, effectively masking the true long term potential of your DB pension.
I say this because those muktiples seem high enough to be hiding something. If you have the breakdown of how much is in each tranche and their respective revaluation rates I may be able to offer further comment.
https://www.express.co.uk/sport/rugby-union/159235...
When you read things like this it makes you want to throw all the calculations out the window and get retired !
When you read things like this it makes you want to throw all the calculations out the window and get retired !
GT3Manthey said:
https://www.express.co.uk/sport/rugby-union/159235...
When you read things like this it makes you want to throw all the calculations out the window and get retired !
Absolutely.When you read things like this it makes you want to throw all the calculations out the window and get retired !
Another good pal of mine, younger than me, passed away last weekend in a tragic accident
A very popular & successful fella who crammed far more into his life than most of us....but still way too soon....Just awful, & makes me appreciate daft days like swapping my winter wheels for summer wheels yesterday (which always leaves me feeling like I've wrestled a bear for an hour or two....). Live your life!
mikeiow said:
Absolutely.
Another good pal of mine, younger than me, passed away last weekend in a tragic accident A very popular & successful fella who crammed far more into his life than most of us....but still way too soon....
Just awful, & makes me appreciate daft days like swapping my winter wheels for summer wheels yesterday (which always leaves me feeling like I've wrestled a bear for an hour or two....). Live your life!
Well said Mike and sorry to hear about your pal Another good pal of mine, younger than me, passed away last weekend in a tragic accident
A very popular & successful fella who crammed far more into his life than most of us....but still way too soon....Just awful, & makes me appreciate daft days like swapping my winter wheels for summer wheels yesterday (which always leaves me feeling like I've wrestled a bear for an hour or two....). Live your life!
GT3Manthey said:
Anyone looked forward to actually retiring and then woke up on day one wondering if they’d done the right thing ?
Yep but only because I hadn’t really planned what I was going to do.You should always retire TO something not retire FROM something.
After about six months I had sorted some voluntary opportunities and sorted some sort of routine and have definitely done the right thing!
craig1912 said:
You should always retire TO something not retire FROM something.
What a great way to put it.Once the glow of not having to wake up and commute in rush hour and deal with corporate BS wears off - and it will wear off - what's next? Think it's important to think this through sooner rather than later.
BTW - genuinely impressed with how GT3Manthey has kept this classic thread going, through the use of clever and relevant questioning. Maybe you could take on a part-time role as social-media manager after retiring
plenty said:
What a great way to put it.
Once the glow of not having to wake up and commute in rush hour and deal with corporate BS wears off - and it will wear off - what's next? Think it's important to think this through sooner rather than later.
BTW - genuinely impressed with how GT3Manthey has kept this classic thread going, through the use of clever and relevant questioning. Maybe you could take on a part-time role as social-media manager after retiring
Hahaha tks Plenty . Once the glow of not having to wake up and commute in rush hour and deal with corporate BS wears off - and it will wear off - what's next? Think it's important to think this through sooner rather than later.
BTW - genuinely impressed with how GT3Manthey has kept this classic thread going, through the use of clever and relevant questioning. Maybe you could take on a part-time role as social-media manager after retiring
It’s the thread I’m hooked on as I’m still fixated on being out of the rat race in a years time but yes you are right maybe a little part time social media role would be ideal !
I ask this question as a mate of mine quit work at 55 with no real plan then went through a stage of depression & anxiety and nearly ate himself to death !
He’s just undergone surgery for a gastric bypass which has helped but he’s wasted almost 4 years of doing very little .
As you say it’s important to have a plan
I retired just over 3 months ago and am still very much in holiday mode and still to get used to it ( which is great frankly ) - Covid and wfh had made the decision that much easier as the thought of having to go back to commuting just didn't work for me in the slightest.
I had initially thought about it a few years ago pre Covid and was on a 12 months notice period and with other "changes" in the workplace anyway had decided in December 2020 to tender such notice of intention.
After returning this am from a rather pleasant coffee and croissant I can safely say 200% no regrets as yet !
I had initially thought about it a few years ago pre Covid and was on a 12 months notice period and with other "changes" in the workplace anyway had decided in December 2020 to tender such notice of intention.
After returning this am from a rather pleasant coffee and croissant I can safely say 200% no regrets as yet !
alscar said:
I retired just over 3 months ago and am still very much in holiday mode and still to get used to it ( which is great frankly ) - Covid and wfh had made the decision that much easier as the thought of having to go back to commuting just didn't work for me in the slightest.
I had initially thought about it a few years ago pre Covid and was on a 12 months notice period and with other "changes" in the workplace anyway had decided in December 2020 to tender such notice of intention.
After returning this am from a rather pleasant coffee and croissant I can safely say 200% no regrets as yet !
Good to hear and many congrats I had initially thought about it a few years ago pre Covid and was on a 12 months notice period and with other "changes" in the workplace anyway had decided in December 2020 to tender such notice of intention.
After returning this am from a rather pleasant coffee and croissant I can safely say 200% no regrets as yet !
alscar said:
I retired just over 3 months ago and am still very much in holiday mode and still to get used to it ( which is great frankly ) - Covid and wfh had made the decision that much easier as the thought of having to go back to commuting just didn't work for me in the slightest.
I had initially thought about it a few years ago pre Covid and was on a 12 months notice period and with other "changes" in the workplace anyway had decided in December 2020 to tender such notice of intention.
After returning this am from a rather pleasant coffee and croissant I can safely say 200% no regrets as yet !
Pleased its working out for you. I had initially thought about it a few years ago pre Covid and was on a 12 months notice period and with other "changes" in the workplace anyway had decided in December 2020 to tender such notice of intention.
After returning this am from a rather pleasant coffee and croissant I can safely say 200% no regrets as yet !
May I ask ball park age? Ie before the 55-57yo where you can start to draw a pension /much before or much later in life
GT3Manthey said:
plenty said:
What a great way to put it.
Once the glow of not having to wake up and commute in rush hour and deal with corporate BS wears off - and it will wear off - what's next? Think it's important to think this through sooner rather than later.
BTW - genuinely impressed with how GT3Manthey has kept this classic thread going, through the use of clever and relevant questioning. Maybe you could take on a part-time role as social-media manager after retiring
Hahaha tks Plenty . Once the glow of not having to wake up and commute in rush hour and deal with corporate BS wears off - and it will wear off - what's next? Think it's important to think this through sooner rather than later.
BTW - genuinely impressed with how GT3Manthey has kept this classic thread going, through the use of clever and relevant questioning. Maybe you could take on a part-time role as social-media manager after retiring
It’s the thread I’m hooked on as I’m still fixated on being out of the rat race in a years time but yes you are right maybe a little part time social media role would be ideal !
I ask this question as a mate of mine quit work at 55 with no real plan then went through a stage of depression & anxiety and nearly ate himself to death !
He’s just undergone surgery for a gastric bypass which has helped but he’s wasted almost 4 years of doing very little .
As you say it’s important to have a plan
I literally built up a spreadsheet of items prior to ditching the day job.
A dozen high level items (craft, culture, DIT, friends, garden, IOW, living, sport, travel, DofE, Kids) then an average of 3 sub-topics.....then a bunch of things within those subtopics.....
I naturally have failed to focus on it slavishly, but every now & then I mark completed ones in green....& it does show how much we have packed into Year 1.
More broadly - I have a few pals who have retired over recent years. Pretty well ALL of them haven't regretted a thing. Only one I can think of (not a close pal) was apparently kind of lost for weeks, and hasn't really got into it. No imagination!!
plenty said:
craig1912 said:
You should always retire TO something not retire FROM something.
What a great way to put it.nickfrog said:
plenty said:
craig1912 said:
You should always retire TO something not retire FROM something.
What a great way to put it.At shortly before midnight after a horrific previous week, I’d settle for just a good night’s sleep tonight and no 6:00 call for more of the same tomorrow.
I could work out what to do with all that time once I have it!
radovich said:
This is indeed good advice. Although I’m sure I’ve read earlier in this thread about the prospect of work cocking up Sunday afternoons and completely ruining Sunday evenings.
At shortly before midnight after a horrific previous week, I’d settle for just a good night’s sleep tonight and no 6:00 call for more of the same tomorrow.
I could work out what to do with all that time once I have it!
What stage are you at with regards future retirement?At shortly before midnight after a horrific previous week, I’d settle for just a good night’s sleep tonight and no 6:00 call for more of the same tomorrow.
I could work out what to do with all that time once I have it!
I’m now wondering if I even bother taking the part time job once I retire from my current one given it’ll require a day in London and still answering to someone else on a Monday morning .
What do you do work wise ?
GT3Manthey said:
What stage are you at with regards future retirement?
I’m now wondering if I even bother taking the part time job once I retire from my current one given it’ll require a day in London and still answering to someone else on a Monday morning .
What do you do work wise ?
I thought about doing some part time work as I was offered 1 or 2 days a week by somebody that I had worked for in the past when they heard I was retiring.I’m now wondering if I even bother taking the part time job once I retire from my current one given it’ll require a day in London and still answering to someone else on a Monday morning .
What do you do work wise ?
I thought about it but decided against it. I think for me there is a real risk that 1 day becomes 2 then 3 and before you know it you are working again.
I haven’t looked back with any regret on that decision.
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