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Retirement

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Retirement

Old 29th Aug 2010, 15:34
  #1 (permalink)  
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Location: UK/Philippines/Italy
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Retirement

One is in a bit of a quandary.

I am in the fortunate position of:

1. Having enough money by way of pensions and investments of various sorts to do more or less as I please.

2. Doing a well paid job I enjoy and which gives me enough influence without the responsibility of hitting the numbvers on a month by month basis. In short, not stressful; I can do it on cruise control.

I had planned on retiring in January 2011. I had told my boss this and hoped he might have some succession planning in place.

This appears not to be the case and I have been asked to continue for another 2 years with an increase in salary.

I have a certain loyalty to the company. I have helped build it over the last 10 years and have enjoyed the fruits of its success.

However, I had made plans to:

1. Write the great 21st Century novel.
2. Finally complete a west/east pacific crossing solo in the boat.
3. Run a small hotel.
4. Spend more time with the Sproglettes now 3 and 5.

I am hitting 60 and have worked every day since I was 19 and, in truth, am a little afraid of not working.
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Old 29th Aug 2010, 15:39
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Join Date: May 2009
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ditto

me similar Lars
Decided to continue as I love the challenge so much (I'm a computer techie on large systems support). Also I learn something new every day
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Old 29th Aug 2010, 15:43
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Consult. Sail the boat and get the boss to get you a high-powered satellite connection so you can keep your finger on the pulse for a while.

Soon after that, the person who's doing your work in your place won't need you (nor want you, it has to be said) so much, you gracefully step back, go forward with your life's plan.

The rest will unfold in due course.
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Old 29th Aug 2010, 15:46
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RJM
 
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Put the kids in the boat, along with some paying guests. Take a laptop to write the novel, and keep working by satellite connexion.

OK, it's not solo, but you will have ticked every other box!


1. Write the great 21st Century novel.
2. Finally complete a west/east pacific crossing solo in the boat.
3. Run a small hotel.
4. Spend more time with the Sproglettes now 3 and 5.
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Old 29th Aug 2010, 15:48
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Sir George Cayley
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Quite a number of people I know who've retired before or at 60 with financial independence tell me they're so busy enjoying life they don't know how they had time for work!

I had planned 60 but life and some crap decisions pension wise will see me working well past then

My advice? Retire as planned then go back on reduced days to suit you and the boss.

Sir George Cayley
 
Old 29th Aug 2010, 15:49
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Official PPRuNe Chaplain
 
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You've left it too late to retire. Retirement is essentially a job for the younger man.

My elder daughter said to me, when I was 53, "What do you want to be when you grow up, Dad?" I replied "Retired". So I did.
I took up a retirement vocation which has proved very satisfying and fulfilling, but the essential bit was retiring and doing all those other things.

If you leave it too long, you may find it's too late to do those other things. It's all about priorities!
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Old 29th Aug 2010, 15:50
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With two Sproglettes aged so young, you won't have time
to do anything but keep them under control.
The demands on your time and attention will only increase
with time.
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Old 29th Aug 2010, 15:55
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Pilot of the Airwaves
 
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As long as you have got your health and the job is not causing or going to cause harmful stress in the future, fine.

...but you may regret putting off the things that you wish to do, if later, you find that you can't do them.
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Old 29th Aug 2010, 16:01
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I was going to sail round the World.
But I can't remember the route now.
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Old 29th Aug 2010, 16:08
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You could live a normal retired life during the day but at sunset you could go out into the night wearing a tight fitting lycra costume and mask and fight evil and injustice.
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Old 29th Aug 2010, 16:11
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You've left it too late to retire. Retirement is essentially a job for the younger man.
You are too right. I have already retired twice! But, somehow, a new challenge or opportunity seems to come along and I can't help but have a go at it. I admire you and your faith and the opportunities you have to influence and do good. In my small way have similar projects ongoing but based more on temporal needs.


With two Sproglettes aged so young, you won't have time
to do anything but keep them under control.
The demands on your time and attention will only increase
with time.
Agreed. This is my second family and I am enjoying it immensely. Age and experience have - just perhaps - given me more patience and an ability to understand better than when I was a young thruster.

As regards time; I/we are lucky enough to be able to afford staff to look after the more mundane aspects of rearing children and household chores.
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Old 29th Aug 2010, 16:12
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But I'm scared of the dark Cap'n Drapes.
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Old 29th Aug 2010, 16:19
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You could live a normal retired life during the day but at sunset you could go out into the night wearing a tight fitting lycra costume and mask and fight evil and injustice.
Lycra, bloody Lycra.

Cotton guy me!
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Old 29th Aug 2010, 16:24
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Psychophysiological entity
 
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You're no fun anymore.
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Old 29th Aug 2010, 16:29
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1DC
 
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Lars, I retired at 60, it was the best thing i ever did. I can live a comfortable life and in the last 10 years, (i am 70), i have enjoyed many things and never felt bored or fed up. I have found that as i have approached 70 the aches and pains of age are increasing and slowing me down a bit, although i consider myself pretty fit. I am glad that i had a busy ten years because whilst i will enjoy the next ten it is quite clear that i will slow down.
My advice would be retire when you can but if you feel an obligation to your boss why don't you split the difference and just do a year............
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Old 29th Aug 2010, 17:22
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Some time ago I reckoned that the amount of capital one needed in order to be able to retire with a decent income from inflation protected sources was somewhere around 2,000,000.

But that was assuming a 5% return net of inflation, and interest rates have fallen somewhat since then and inflation has gone up, so maybe one needs something nearer 10,000,000. As I don't have anything like that I'm not currently contemplating retirement.
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Old 29th Aug 2010, 18:14
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Join Date: Aug 2002
Location: UK - EGLF is closest.
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Retire to do what you really want to do (before it's too late ...). Time alone is irreplaceable and we are all running out of it. We just do not know when ...

SI
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Old 29th Aug 2010, 20:44
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Stargazing
 
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Ain't that the truth! Lars, I retired at 50 and although I missed the people I worked with, I have delighted in having time to think, to marvel at the world around me and to make friends with the people in my village. No more moving every two years, no more being ruled by the latest management-speak bolleaux, no more losing myself in other people's expectations. Cherish your family, your health and the lovely things around you. I know that finances aren't your main focus in this equation, so take the next big step into the rest of your life. Who knows what you might find?
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Old 29th Aug 2010, 21:42
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Time alone is irreplaceable and we are all running out of it. We just do not know when.
+1

Get out before the Grim Reaper gets you.

I was essentially forced into retirement because I could no longer stomach the morons in airport security. It was retire or probably get locked up for decking one of the s0ds. Never regretted it for a minute, in fact I can barely remember what I used to do for a living...
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Old 29th Aug 2010, 22:11
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Lady Lexxington
 
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Mr L's Dad shuffled off his mortal coil at 62. Retire, your in the fortunate position to be able to do so, so do it.

Yes I am hectoring you here, but it's my right as a grumpy pregnant woman.
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