Retirement Planning & Experiences

[Flashback]

So...... I'm just about to reach my 40's, but I'm semi retired at the moment. I recently fired a client, off my own steam. They would have happily kept me on.
I could quite comfortably call it a day now and be done with it, but I need to keep myself busy so I am sure I will keep doing something. I admit, I'm probably against the grain here, but I worked hard to get to where I am. Money isn't everything, anyway.....

Happy me and husband both doctors transitioned VERY EASILY - but we both worked part time in last twenty years pre retirement

Mrs FB is doing that. Well, she was...... then worked out she was working as much and not getting paid, so now back to full time, but compressed hours so still only does 4 days/week.

I'm only 57 but starting to think more about retirement given it's generally expected to be within 8-10 years. After my 40 years in my industry is 10 December this year, it'll be good to start to take more time away from home and start travelling more.

Doing the (what we think will be) final family holiday in January 2025 (skiing in Japan), now that my daughter has finished school. She's off to Uni and will be looking to spread her wings (which we encourage particularly as she has access to Australian, English and Irish passports).

Don't think I'll have a problem retiring - but hard to know until it happens. Father and mother both "worked" until age 75 so they could continue to contribute to super - that doesn't interest me.

Nike! Just do it......

Mr Denali took 18mths long service then resigned and retired at 54. It's been 10yrs now and he has no regrets

I'm 56 and talking about going part time but I like working and think it would take me a very long time time to enjoy full time retirement.

Of course if we win powerball, I'm outta there

Amen to that, I can/would love to retire, but I'd need something to keep me busy........ which would mean going back to work again!

 

[kpc]

I want and can retire now but +1 not having a bar of it....so as a compromise I will start taking 3 months of LSL at 1/2 pay (have ~24 months ) + AL + conference leave next year onwards so will only be working ~ 7 months per year til the big R in 8 years' time, possibly less.

The deaths in their mid 60s, sadly on the same day, a few months ago of 2 AFFers, @tuapekastar and @sergeyvzn helped me decide to do more travel now whilst Im still healthy enough to do so!

 

[Quickstatus]

What % of current annual income are people here retiring on?

 

[kpc]

What % of current annual income are people here retiring on?

A mate said I need a retirement income of 200K pa to maintain my current lifestyle

 

[9171]

A mate said I need a retirement income of 200K pa to maintain my current lifestyle

I assume that is net, after tax?

 

[SYD]

A mate said I need a retirement income of 200K pa to maintain my current lifestyle

Anyone who owns their own home probably needs significantly less and still have a comfortable travel lifestyle! At one point, I calculated about $50k for myself would be ok but fortunately failed in getting that low so far!

 

[MARTINE]

Anyone who owns their own home probably needs significantly less and still have a comfortable travel lifestyle! At one point, I calculated about $50k for myself would be ok but fortunately failed in getting that low so far!

That doesn’t even pay for the coffee!!

 

[TheRealTMA]

That doesn’t even pay for the coffee!!

Let alone the wine bill!

 

[Scarlett]

Just passed the half century and my retirement will be at 55 years and one day old! (due to my pension scheme allowing access) Can’t wait.

Golf three or four times a week: maybe twice a week at wherever my home club ends up being, then a couple of games somewhere else. Hopefully broken up by regular overseas travel with the golf sticks.

Maybe do some irregular work if there is a particular project or event that is interesting.

 

[Quickstatus]

That doesn’t even pay for the coffee!!

Let alone the wine bill!

Luckily I'm not big on both.
I've done flights in F where not an alcoholic Bev passed these lips in the lounge or in cabin.

 

[MARTINE]

Luckily I'm not big on both.
I've done flights in F where not an alcoholic Bev passed these lips in the lounge or in cabin.

I don’t drink alcohol but coffee…

 

[Bindibuys]

We decided about 25 years ago that we could not trust the government with us getting a pension. So set out to make our own.
Purchased our first investment property, then 2nd. Sold the 2nd about 3 years later (a real little cash cow) which let us pay off our own mortgage.

More properties purchased, and in the 20 years all paid off, and now I live off the nett income stream, well actually our holiday fund.
As hubby now has a finish date, he is getting offers from clients to come work for them, he will probably work 2-3 days a week, to keep his mind active, but we have plenty of work to do here on the farm. Fencing, clearing and general tidy up of paddocks.

We have already sold 2 of the properties last year, and will sell more in the next couple of years, as the income stream will not match the sale price for money in the bank.

Thank you Wesfarmers for paying for my husbands uni degree all those years ago, having a partner that has his head screwed on financially has put us on a comfortable path. (but I still own waaay to many clothes....)

 

[RooFlyer]

Anyone wondering what they might do in retirement to fill in the time.... family history! Good chances are it will fairly well consume you AND for the majority of us, lead to more overseas travel to investigate. Some of the prettiest villages in England and Scotland I have visited have been way off the beaten track to see where the ancient rellies lived (and some current ones).