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Best Place (world) To Live +50 / Not Working - Opinion, Advice And Discussion

Discussion in 'Lounge' started by AirCon, Mar 1, 2018.

  1. About the 'Luck' thing...I have experience of when 'luck' comes along. Sometimes it's been pure good luck, that came out of nowhere, and I benefitted from it. Sometimes it was obscure opportune good luck, that I recognised and grasped. Sometimes it was good luck that I made myself through hard work and savvy, and I reaped what I sowed. Sometimes it was maliciously created bad luck, and I got knocked down and lost nigh on everything (twice.......but I got up again ;)). Sometimes it was pure bad luck, that came out of nowhere, and I could do nothing but accept it and move on.
    I consider myself having, on ballance, generally benefitted from good luck in my life. I fully appreciate that there are others who haven't been so.....err....'lucky', but I'm not going to appologise for what I've managed to achieve.
     
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  2. Just just updated my life plan.

    15 months of normal working then
    Easter 2020 Aged 53 (just)
    Switching to 2 days per week, followed by 3 days per week....
    so 50% retired ......
    I accept this is a lot easier if you work for yourself.
    Saving like and making maximum pension contributions (lessens current taxes).
    Decent exotic holidays / fly drives etc.

    Easter 2022 or earlier
    Looking to move West to Herefordshire or Gloucestershire
    When we move from West London the plan is to sell up (Business and House/Home).

    Start having longer, cheaper but more of them, European breaks.
     
    #362 AirCon, Aug 20, 2018
    Last edited by a moderator: Jan 5, 2019
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  3. Looks like a great plan Paul:upyeah:
     
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  4. Has anyone considered running a hotel or Bed n Breakfast in early retirement.
    Perhaps this is "the Grass is always greener" thing, but it looks like a very tax efficient way to make a living in retirement?


    EDIT.
    I've dropped this Stupid idea.
     
    #364 AirCon, Aug 21, 2018
    Last edited by a moderator: Jan 5, 2019
  5. That’s not retirement in my book.
     
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  6. Nutter :eek:
     
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  7. Many Brits tend to do this with B&Bs in France. They soon get pi$$ed off when the end up working more hours for less money.
     
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  8. Mrs B and I have talked about B&B.

    Looks too much work to me. And you never have your home to yourself (if you are successful).
     
  9. Friend of mine is just doing this, selling up and has already bought a gite or whatever it’s called in Normandy. Knowing him as I do, not sure it suits his personality...
     
  10. dont, tho i do know a few that do it part time, there's fug hospitable about the hospitality trade.
     
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  11. I also enjoy this thread - my plan is to finish corporate life when I'm 60 in 2021......I suspect the next 2.5 years will be the toughest as I've pretty well had enough now!

    Don't think I'll stop work (might take a year off to do some tours), just do something completely different on a part time basis.

    Planning to spend my 60's holidaying with Mrs GH while we still have our health....
     
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  12. Please don’t wait till your 60 any of you just do holidays now if you can and enjoy yourselves
     
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  13. We do....just want to reverse it from 4 weeks per year to 48...:upyeah::upyeah:
     
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  14. I'm in kind of the same mindset. Maybe do a bit of something (no idea what and it certainly wont be more than a few hours if I do decide to do something) or maybe do what my brother in law is doing which is taking half a dozen hols a year.

    When i recently enquired about my pension options my pension advisor said that if I retired next year and I lived to be 100, and using the worst case scenario data (based on 30 years of investment/pension activity) then I would be starting to run out of money if I drew down monthly what I do now. That seems to me to be a good reason to enjoy life now.

    The lads may not get cash but will get the house as and when I pop my clogs.
     
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  15. I know two different couples that do this. Dont do it! You end up working longer hours, less holidays, waiting for 6pm arrivals at midnight etc.
    It is NOT retirement.
     
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  16. Suspect that’s what will happen with me and mine. Fingers crossed we manage to do something at 57/58, take a year out travelling, then decide how to spend the years we have left.
     
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  17. Something that hasn't been raised. I am financially aimed so in another 5 years buying some land, building a small house and enjoying my life at my own pace which I hope will have a very part part time job to keep the noggin active.

    In the mean time I have some smaller pensions that I can access from December. My daughter and son in law earn good money but are cvnts at managing money and for the last 4 years I seem to have been bailing them out on a regular basis due to their debt and inability to accept many of their financial mistakes are of their own making.

    I mention this as El mentioned about leaving to the kids. I had thought of surrendering one of the smaller pensions paying off their 27k debt so they will have less stress, not have to work overtime that could be spent as family time and hopefully have a better life forward, I would only do this in the hope my grand children would have a better life also, were there no grandchildren, I would let the daughter and son in law sink. The trouble is I know If I was to gift some of their inheritance early to wipe out their debt, a few weeks later they would be out getting a new car and running debts up again

    Part of my pensions undoubtedly will find their way into my inheritance onward. I doubt I am the only person who see's the ability through retirement to help adult children so I can't be the only one who has issues of feeling like it is emotionally the right thing to do but that can come into opposition to it will be a waste of time for some.
     
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  18. Exactly that!
     
  19. I retired on Friday so today is my second day of retirement. I hated my large corporate job so for me it was about retiring as soon as I had enough money. I could always work longer and amass more money but the stress in doing that wasn't worth the gain. My pension is enough to be comfortable and I am 55 so hopefully, although you never know, along time to enjoy it.
     
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  20. Well done that man!

    My sentiments in a nutshell!
     
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