#1832227 - 01/29/23 05:43 PM
I'm thinking about retiring on my 60th Birthday
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Alan
Member of the DNA (National Dyslexic Association)
Planeteer
Registered: 01/30/00
Posts: 7974
Loc: Sauchie, Scotland, UK
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I've been crunching the numbers for a few weeks now.
I have an MOD pension that kicks in on my 60th and I also have my current employers pension to add to that. Our mortgage ends that day too. My buddy Jim left my wife and I with a lot of £'s too which really changes things with regards to the options.
All in all, looking at the pensions income alone im only @ £200 short / month than what I currently earn. With no mortgage it seems like a no brainer.
Just wondered if any of you guys retired at 60?
I'm toying with the idea of doing charity work. Become a certified PAT tester (will cost me £200 to get qualified) for electrical items sold at local charity shops. I would provide them with a certificate of conformity and possibly charge a really low price per item or day.
I will definitely get back into arts and crafts involving lapidary and all the other 'hobbies' that I enjoy.
At that time I think I'll also quit drinking. It will be a 'new era' for me 
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#1832232 - 01/29/23 06:20 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Alan]
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Timster
Artist #'s - 130, 298, 412
Loquacious Planeteer
Registered: 03/06/03
Posts: 43451
Loc: Center of the Universe
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quit drinking? wtf are you nuts. lol
Nice the mortgage is done. That is what is holding me back.
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#1832239 - 01/29/23 06:51 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Timster]
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Webster
Planeteer
Registered: 02/15/07
Posts: 17062
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I say do it! I'm envious. I'm 54 and figure I've got about 10 years of the grind left.
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#1832246 - 01/29/23 07:13 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Webster]
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C Jo Go
EMERITUS ~ VS Roland
Loquacious Planeteer
Registered: 11/05/01
Posts: 36745
Loc: carmel valley,ca
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I did it at 62 --- problem is : I have no pension ---self employed since 1979 ..tiny SS check. So glad I had plenty of fun/travel memories > in my younger years.
Take the attitude of -- purchase only what you can afford ~!
Edited by C Jo Go (01/29/23 09:00 PM)
_________________________
Good and bad, I define these terms quite clear, no doubt, somehow
**( ͡~ ͜ʖ ͡° )**
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#1832254 - 01/29/23 07:31 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: C Jo Go]
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Xenophile
Planeteer
Registered: 09/27/00
Posts: 19189
Loc: Sacramento, CA, USA
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I’m on the fence about retiring when I hit 65 this summer. My job is challenging, and with deadlines and young engineers making mistakes it can get pretty intense at times. But I get to play with some cool toys, and feeling needed and respected is good for an old man’s mental health.
Ditto what Timster said about quitting drinking!
C Jo, you’ve got no kids, right? So why not take out a reverse mortgage on your property so you don’t have to pinch pennies? I would think you’re sitting on a gold mine. Just let the bank have it when you finally check out. But that Mac Studio and have some fun learning how to use it! We old farts don’t have but a few decades left.
_________________________
"Bobby, I'm sorry you got a head like a potato. I really am."
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#1832330 - 01/29/23 11:48 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Xenophile]
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WRC,Jr.
Planeteer
Registered: 01/08/05
Posts: 5579
Loc: San Antonio
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I officially retired 12 years ago at age 51. It was a corporate take over and the severance pay and stock options were very generous. I now have a part time job at a local research institute, 4 hours a day. It is great working with such young, smart, talented people. It keeps me on my toes. I'll be 65 in 2 1/2 years. I don't know if they have mandatory retirement. I hope not.
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#1832334 - 01/30/23 12:32 AM
Re: I'm thinking about retiring on my 60th Birthday
[Re: WRC,Jr.]
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Ismellelephant
Loquacious Planeteer
Registered: 07/10/01
Posts: 56369
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Do it! I retired at 65 but would have done so earlier if our for profit healthcare system didn’t suck so bad. Once at 65 my wife and I were able to have healthcare from her former employer until we both expire. Probably not an issue in the UK.
Nice you have a pension. Here in the US you need 20 years in the military to get a pension. In the private sector pensions are rare, business don't like them.
_________________________
We're all gonna lose an eye!!!
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#1832339 - 01/30/23 01:42 AM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Ismellelephant]
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flatcat
Loquacious Planeteer
Registered: 07/11/01
Posts: 29843
Loc: Westborough, MA, USA
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Congratulations! I am envious.
_________________________
The internet, and the whole technology sector on which it floats, feels like a giant organ for bullshittery—for upscaling human access to speech and for amplifying lies. - Ian Bogost
Professor Truth T. Sweetness says,"Mind your manners!"
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#1832386 - 01/30/23 04:53 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Marty Gilman]
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Doofie
Doofie
Planeteer
Registered: 04/04/02
Posts: 14269
Loc: Hamilton, Ontario, Canada
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For me, retiring was partly about money. It was mostly about getting old. I was 68 when I submitted my resignation. My teacher's pension and OAS were more than enough to cover my costs. I delayed my Canada Pension until I was 70 because I didn't need it and because that delay would increase it by about 40%.
But really, I stopped teaching when it was time, even though I loved my job. I figured I have about twenty years to decide on what I would do each day without having to be somewhere. I knew I had enough hobbies to keep me engaged and challenged, and I would maintain a strong connection with our school for at least five years after retiring. And now someone else is working in what were my classroom and shop. I still miss my job, but I think I did it the right way for me.
Alan, you're a smart man, and it sounds to me like you've already made much of the decision. You're just doing the rationalizing part right now. If waking up each day without an alarm clock seems like a good idea, then that's the thing to do, especially if you have all of the financial concerns covered.
But I can't quit drinking. I've got about too much single malt in the closet and I'm not about to give it away.
_________________________
"On religion, the common man finds it to be true,
the wise man finds it foolish,
and the wealthy man finds it useful."
-Seneca The Younger ~76AD
I'm David McMillan. My friends call me Chuck.
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#1832395 - 01/30/23 07:02 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Doofie]
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Tao Jones
Planeteer
Registered: 06/13/00
Posts: 15120
Loc: CA
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I'm thinking about retiring just about every minute.
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#1832419 - 01/30/23 09:49 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Tao Jones]
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Ismellelephant
Loquacious Planeteer
Registered: 07/10/01
Posts: 56369
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Every night is a Friday night, everyday is a Saturday.
_________________________
We're all gonna lose an eye!!!
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#1832422 - 01/30/23 09:56 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Ismellelephant]
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Andy McClelland
Planeteer
Registered: 05/24/14
Posts: 12359
Loc: Commanda, Ontario Canada
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What day is it now?
_________________________
Horn player tuning: Give me Bb. Never mind, Just give me a B and I'll flatten it myself. Andy on SoundCloud
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#1832429 - 01/30/23 10:43 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Andy McClelland]
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Ismellelephant
Loquacious Planeteer
Registered: 07/10/01
Posts: 56369
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Saturday...closing in on Friday night.
_________________________
We're all gonna lose an eye!!!
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#1832431 - 01/30/23 10:49 PM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Andy McClelland]
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C Jo Go
EMERITUS ~ VS Roland
Loquacious Planeteer
Registered: 11/05/01
Posts: 36745
Loc: carmel valley,ca
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My job was quite stressful --BUT only for like 30 weeks a year AND then averaged 2 days a week ....for 40+ years.
Edited by C Jo Go (01/31/23 02:55 AM)
_________________________
Good and bad, I define these terms quite clear, no doubt, somehow
**( ͡~ ͜ʖ ͡° )**
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#1832718 - 02/02/23 04:31 AM
Re: I'm thinking about retiring on my 60th Birthday
[Re: C Jo Go]
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LarryG
Planeteer
Registered: 02/04/00
Posts: 3111
Loc: FL
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Very personal choice, Alan... so many factors involved. All the best!
Could’ve retired at 62, but hung in till 69 to boost the SS component... just in case it’d be needed. Lean towards a more conservative approach.
_________________________
/LarryG
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#1832733 - 02/02/23 06:20 AM
Re: I'm thinking about retiring on my 60th Birthday
[Re: WRC,Jr.]
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Timster
Artist #'s - 130, 298, 412
Loquacious Planeteer
Registered: 03/06/03
Posts: 43451
Loc: Center of the Universe
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I officially retired 12 years ago at age 51. It was a corporate take over and the severance pay and stock options were very generous. I now have a part time job at a local research institute, 4 hours a day. It is great working with such young, smart, talented people. It keeps me on my toes. I'll be 65 in 2 1/2 years. I don't know if they have mandatory retirement. I hope not.
Bill, we must have super close b-days. Having just bought a house last year, I need to go till 67 or 68. I do have a small military pension and will have no cost tri care at 65, but I will need to crunch numbers at some point.
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#1832893 - 02/03/23 04:49 AM
Re: I'm thinking about retiring on my 60th Birthday
[Re: Timster]
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grachus
Planeteer/Artist # 92
Planeteer
Registered: 01/10/00
Posts: 11909
Loc: burlington ont, canada
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I retired when I was fired (ripe ol age of something 60)and I haven't regretted it since. well no I had about a year or two of going crazy with fear and doubt and working part time at ol trade skills and whatnot but im finally not working. And my wife is still working cause she likes it a lot. thats what she screams at me.
we are rolling along financially as we had property and sold that and a home almost paid for and kids grown . so a grand ol whipdeedoo.
im still drinking but I take three days offa week 9not tonight by the by)to ensure I know what day it is and my kidney knows what water is. but then I do have Canadian certified weed at my disposal.
I thought you were older then 60 Allan.
not saying your not attractive just that I thought you were smarter then that.
did you call me last week and I missed the call?
just asking for a friend
now a days im finally getting down to writing songs and playing guitar and piano. then I will soon do a deep dive into recording again.
my studio is a great man cave but its only a basement room with a budget friendly gear and a idiot producer engineer idiot who will make a bit of noise for no one and enjoy the whole process . somewhat like whittling a fine figure on the porch that disintegrates for years under the fallen house to be discovered by archiologist in a hundred years and thought to be nothing but a root of a bush.
I have great ambition.
my family and friends wonder why im not yet dead or famous and I am bewildered
as well. but we carry on and ask no more pressing questions regarding the time I spent in purgatory
its best not to ask
but retirement is a delightful excursion into the delights of life and Im actually truly leaving for Palm Springs California Saturday
a week of desert sun and wine
I think it will be a fine repose
ill send a postcard if you like
retirement is just time contemplating death taxes and the lost youth with their rocknroll music and Taylor swift. I told them to invest but they bought bitcoin now look at the mess their in
but no I highly recommend it and a visit to Canada. Have you seen the Falls they are meh.
but its good to get wet. and see America .
I hope you find good weather and fine heath. cheers
_________________________
Now is the time
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#1832999 - 02/04/23 04:43 AM
Re: I'm thinking about retiring on my 60th Birthday
[Re: grachus]
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LarryG
Planeteer
Registered: 02/04/00
Posts: 3111
Loc: FL
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Enjoyed the post, G! Keep doing what you do.
_________________________
/LarryG
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Yes I did try to call you on the 28th Jan. Thanks for reminding me how forgetful I get when I have had a drink! 
