General > General Technical Chat
Retirement - when to take that step (leap?)
nali:
As with a few others here I "retired" a couple of years ago but also went self employed and work on an ad-hoc basis, mostly for a previous employer. It stops me from stagnating and of course helps pay the bills.
Oddly enough there was an article on BBC News yesterday saying that >20% of UK adults aged 16-64 are neither working nor looking for work https://www.bbc.co.uk/news/business-68534537 Sounds a bit alarmist but I suppose if you count unemployed, maternity/paternity, comfortable pre-retirement and wealthy it could be credible.
tom66:
--- Quote from: nctnico on March 13, 2024, 07:45:10 am ---
--- Quote from: CatalinaWOW on March 12, 2024, 11:52:59 pm ---Most of the advice here is good, but actually impossible to follow. For example: Make sure you have enough money/income.
--- End quote ---
Over here you can buy/save for a fixed monthly pension from an insurance company. That way the person who dies at 60 pays for the income for the person who lives to be 100.
--- End quote ---
An annuity. Typically the rates aren't particularly good, for instance from an annuity I would probably be able to get £10k per year, whereas even maintaining the safe-withdrawal-rate (~4%) would get close to £15k per year. (Figures based on the projections from the current pot, I intend to increase it aggressively!)
One amusing thing about annuities is they tend to give you more if you're unhealthy, such as if you smoke... which begs the question as to how exactly they definitively prove that you do smoke regularly.
hneve:
Felt the same about retirement creeping up on me. Got fed up with the corporate grind and decided I didn't want to wait around until I couldn't enjoy life anymore. Started looking into what makes me happy and how I could shift gears without ending up broke. Ended up launching a small venture that's more passion than work.
To get my finances straight, I used a Coast FIRE calculator. It was a real eye-opener, showing me I had enough stashed away to just cover living expenses without needing to add more to the pot. Made the leap way less scary and let me focus on what I actually want to do, not just what pays the bills.
dobsonr741:
And there is health span. I started listen to this guy, decided to get my measureables in order, to get the best out of retirement, whenever I’ll get there. https://peterattiamd.com/
pqass:
PSA: Life is meaningless and we're all going to die.
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