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Old 1st Sep 2013, 05:17   #1 (permalink)
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Join Date: May 2013
Location: have I forgotten or am I lost?
Age: 64
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there is no future, I'm ending it.....

I just thought I'd bring to a head some of the morbid aspects of the "god no I've had to retire and there is no future...." thoughts.

you need to get out a bit more guys.

retirement is the period between the end of the working part of your life and the onset of the debilitations of age. make sure you enjoy it!

none of us want to give up aviation so here are a few ideas...

the ULF-1 is a foot launched glider designed by a german aeronautical engineer. it must rate as the lightest properly designed airframe in existence.
you can build one of these with little more than a coping saw, sanding block, ruler, pencil and a sharp knife.
you can google the details....

get involved in a gliding club. lots of friends to be made there and lots of interesting new flying experiences.

build a little homebuilt. there are lots of single seat designs around like the Corby Starlet, Druine Turbulent and Jodel D9. they dont have to be expensive.

have a look at building a boat. 'Wooden Boat' magazine has lots of ideas to spark the imagination.

the thing is that you shouldnt sit and mope. get out and do something even if it is just to walk down to that lonely old lady at the other end of the village and have a cup of tea with her.
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Old 1st Sep 2013, 06:04   #2 (permalink)
 
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Absolutely correct.
When I retired 10 years ago, I looked on it as a career change, to one where I could do work that I enjoyed, working on projects that I wanted, and where income wasn't the driving force.

I now work at least as many hours as I used to, but it's much more enjoyable, and what started as a hobby has now turned into a hobby that I get reasonably well paid for, and have built up a good reputation for my work. (I make prestige wooden boxes, so if you're thinking of ending it, I'll happily make one for you.)
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Old 1st Sep 2013, 06:08   #3 (permalink)
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Hydromet you're a champ. what I hope is that people post their successful ideas to show the diversity of the possibilities that actually exist.
...and do it as you have done with some humour. those who are down in the dumps need a laugh.
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Old 1st Sep 2013, 07:28   #4 (permalink)


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Exactly right.

About 10 years ago I had a job of which I enjoyed the core activities but in a vile work environment and mostly with people I detested. I tried for early retirement or retrenchment and when I realised they were not going to go for that as I was 'too young' for the former and the latter would have exposed them to legal sanctions, I got them to sack me, which was financially beneficial to me.

I was then able to continue with the previous core activities of my job, but working when and where and for whom I wanted, thus enjoying every minute of it. As I only work typically a week per month, I now have time to do other things for which I didn't previously have the time or energy. I am far busier than ever before, I have a reason to get up every morning and look forward to the day's activities, and I have a circle of friends in the same position as myself who are mostly so busy with that we sometimes only meet once a month or so as we all travel and do other things.

I know people who don't work and spend their days watching daytime TV (whatever that is!) and are usually half-pissed by midday and sit around talking shit until it's dinner time. I don't have time, literally or figuratively for that lifestyle. Ironically, most of my ex-colleagues felt that I would end up like that. Jealousy, I suspect, as with one or two notable and valued exceptions, those who were my 'friends' at work have now all turned their backs on me except for the odd call when they need help or support on something.

The downside, obviously I don't have a regular income or paid holidays and medical aid, and my income is less, but I earned far more than I needed anyway and I wouldn't go back to the previous life for anything.
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Old 1st Sep 2013, 08:35   #5 (permalink)
 
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I too was afraid of retiral but 3 years ago sat down with my wife to discuss the future - I no longer enjoyed working for my employer so we decided that it was time to stop. Since then we bought property to let,started a business for my youngest son so I have things to occupy my time. At the same time I have freedom to do what I want when I want to do it. Weather good? - go fishing or tear around the Scottish Highlands on my R1 or Z1000.If you have been prudent you can have a very laid back retiral with a stress free lifestyle. I loved my job and it paid well but it is better that you decide to stop and prepare for it rather than the decision being made for you.
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Old 1st Sep 2013, 08:42   #6 (permalink)
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All good ideas, but will somebody please come and take my job so that I can retire????



UFO
Still working one day a week at 67, no time for flying, fishing.....
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Old 1st Sep 2013, 08:48   #7 (permalink)
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Quote:
If you have been prudent you can have a very laid back retiral with a stress free lifestyle.
Oh I wish that was true. Pension raids, criminal banking activities and the like have changed all that.
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Old 1st Sep 2013, 09:38   #8 (permalink)
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prudent doesnt come into it.

In ausralia we have a national compulsory superannuation scheme.
which sounds really good until you look at the reality.
my super fund lost most of its value due to their investments going bad.
additionally the governments have taxed the life out of it all.
you can have what you think is a sound future then find it has all evaporated when you come to the point of using it.

the thing is your grandfather lived in an even poorer environment and he just got on with it.
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Old 1st Sep 2013, 09:45   #9 (permalink)


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I don't wish to sound smug or 'know-it-all' but I saw through pension schemes and annuities a long time ago, mainly because of the pressure I was put under to invest in various schemes by shifty snake-oil salesmen. As soon as it becomes clear to me that someone is doing a hard sell, I suspect that there is more in it for them than there is for me, and I walk away.

Apart from a couple of compulsory company pension schemes and government scams, I have managed my own investment policies, using a wide range of instruments and strategies, and I feel quite secure. I am not counting on any of the government of company ones to provide anything more than beer money when the time comes, and if they provide more I shall view that as a bonus.

I have several friends who at an age when they should be happily retired from long and distinguished careers as airline captains, are working because they need the money, not for enjoyment.

I do feel desperately sorry for many people I know who have seen their pensions, future incomes, and investments eroded by the dishonesty and incompetence of fund managers, government bodies, and employers. I realised long ago that the only person I can trust is myself in this regard.

Last edited by Capetonian; 1st Sep 2013 at 09:48.
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Old 1st Sep 2013, 10:27   #10 (permalink)
 
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Quote:
If you have been prudent you can have a very laid back retiral with a stress free lifestyle.
You are joking of course ?

Dealing with the increasing complexities of just maintaining bank accounts that I have had for over 50 years - because the banking fraternity are determined to make me prove that I'm not an international crook every day, ( their latest ploy is to object to my signature - it no longer being like the example they have on file, how surprising, 50 years later ) motor cars with unnecessary computers that try to make me take my eyes off the road to see what the bugger is doing next - and dealing with touchscreen computers and Windows 8 - is enough to keep ones' blood pressure elevated.

Stress free life ? I wish.

Oh yes - and cellphones.

Last edited by ExSp33db1rd; 1st Sep 2013 at 10:40.
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Old 1st Sep 2013, 10:40   #11 (permalink)

 
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ExSp

They said that about my signature as well the other week !

"because the banking fraternity are determined to make me prove that I'm not an international crook every day,"

Other ways to move significant amounts of $$$ around the world,
al be it with a bit of paperwork !!!
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Old 1st Sep 2013, 11:38   #12 (permalink)
 
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Because of legislation affecting pensions - Solvency 2 and Gender Equality - I stood to lose up to 20% if I didn't take my pensions last year. That meant every day I worked after that was 49% for the government, so I retired in June. Time on my hands? Not really. Sorting out this year's tax return with the accountant is an on going exercise, and getting the accounts sorted for the part of this year I was self employed is another. So I haven't got any of the things I planned done, especially as I 'got' volunteered to do a couple of conference presentations......so they're on-going, too.

The interesting thing is that from 2008 to 2011 I worked part time for half pay. My IFA managed to consolidate pensions and get me a pension income greater than that half pay income....with no national insurance to pay, either, and that is without the state pension.

I can now understand why people say that they don't have any time once they have retired......
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Old 1st Sep 2013, 12:52   #13 (permalink)
 
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Capetonian is absolutely right -do not ever be persuaded that some financial advisor wants to make money for YOU - he wants to make it for himself and the two things may not give the result you want.I was a fairly high earner working worldwide for over 30 years - earnings tax free.My wife also works and has a good grasp of things financial - she is Filipina and as a result on retiral we had the flexibility of a substantial sum of money.In the present financial climate low risk profitable investments for people like us are non existent.We decided buy to let would give a reasonable return and it has proved so.We do not employ an agent - they will just bleed you white we do everything except specialist repairs ourselves and it is all reasonably simple. The most difficult is coping with the regulations and documentation - the Landlords Association taught us how to manage that. It does not take up an enormous amount of time per week,our tenants are nice people,rents are paid on time so we are happy with the decision we made.
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Old 1st Sep 2013, 15:48   #14 (permalink)

 
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Another option is to reduce your expenditure to the point where you can retire early and live on little. I gave up full time work at age 46, and built my own house. I used my labour to save expenditure. My actual required costs now I've finished are about 5000 pa, including car, and I like good food and wine. I do odd bits of work when I can find it. My first pension cuts in in 4 years at 6,000 pa.
"Result: Happiness"
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Old 1st Sep 2013, 17:57   #15 (permalink)
 
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I'm happily retired, mostly, and enjoying the good life of pointing out to Pruners where they are wrong.

Course I never really did give up the old job, I just do it mostly for free now.
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Old 2nd Sep 2013, 01:06   #16 (permalink)
 
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Quote:
additionally the governments have taxed the life out of it all.
And of course W8 it all started with the Silver Bodgie
and his ALP goons in 1983. "There will be no capital
gains tax" was something else I recall from Bobawk's
speeches. Even Whitlam of the 70s left it alone.

The Super scheme of old worked well. Nowadays I
can't see why anyone in Oz would ever want to go
into one.
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Old 2nd Sep 2013, 01:31   #17 (permalink)
 
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Quote:
there is no future, I'm ending it.....
With a pub crawl to The World's End.
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Old 2nd Sep 2013, 03:22   #18 (permalink)
 
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Quote:
the banking fraternity are determined to make me prove that I'm not an international crook every day
... not just the banks - most of our investments are in mrsr1's name, rather more tax efficient that way, and we have been with the same companies for years. To add or change an investment now is a bureaucratic chore - notarised copies of identity, proof of residence etc, etc just to move our own money around. I think they don't actually want our business
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Old 2nd Sep 2013, 03:41   #19 (permalink)
 
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Quote:
.......our tenants are nice people.......
Lucky you, our first tenants were, actually left the place better than they found it, but after that it has been all downhill to the point where I now refuse to rent to anyone - let them eat cake.
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Old 2nd Sep 2013, 07:12   #20 (permalink)


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We decided buy to let ...............We do not employ an agent - they will just bleed you white we do everything except specialist repairs ourselves and it is all reasonably simple...............,our tenants are nice people,rents are paid on time so we are happy with the decision we made.
You were lucky .... as Monty Python's Yorkshiremen would have said! I bought some buy to let properties a few years ago. The company I bought from turned out to be fronted by a devious conman so I paid over the odds, to start with. His 'management' company bled me white over the repairs and maintenance, or at least tried to, I had to check and query every item. I needed to use an agent as I was mostly not in the country and needed someone local. The tenants, past and present, have ranged from devious lying scum, through psychopaths, to ideal. I have had properties broken into and vandalised, and had to fight with an insurance company (NFU Mutual - be warned) to get them to pay out a justified claim for about 5000 that they tried to wriggle out of - in the end it cost them over 8000 plus loss of face and reputation.

I changed to another agency who are about as honest as one can get in an industry where dishonesty and overcharging are rife. Their charges are high but fair and justified. I have another 'handyman' in the area whom I use to keep the prices competitive but I am still paying over the odds but I as I am not there to do the necessary maintentance, I have no choice.

Legal fees to recover sums due from defaulting tenants are very high, but due to my persistence in tracing and suing tenants and then getting a warrant of execution from the HCEO (suggested by someone on PPRuNe for which I am ever grateful) some money is slowly filtering back. The bitch wanted to reduce her payment from 70 a month to 1 (yes, 1) a month because she was spending 40 on fags and booze. She was a single mother of about 35 with a daughter of about 16 who also had a baby.

Although I don't pay much tax on the income, because there is little profit, the tax returns are another aggravation.

And finally, the houses are not an appreciating asset. If I sold them tomorrow I'd be lucky to get 75% of what I paid for them.
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