Retirement - put it off or take it early?.

[tko]

1 hour ago, Butch said:

It appears that many BM's have been lucky in respect of pensions and retirement arrangements. A cynical part of me asks if some companies are keen to get rid of log term employees because their contracts and T&C's are more favourable than the new ones offered, hence a motivation on their part to dispense with them.

 

Actually, I think its just our age.  I know the company I worked for did away with pensions in 2005 for all new hires, and tried to convince current employees to switch our pensions to enhanced 401K contributions.  They didn't get many takers.

[forcebwithu]

7 minutes ago, forqalso said:

...
But studies like that can be skewed. What is a major reason for taking early retirement? Poor health. Couldn’t that be a reason for the early deaths for early retirees and not early retirement itself? Correlation does not imply causation.
 

The highlighted red bit is why I don't put too much stock in any one study.

I believe there are other studies out there that point out some leave this dimension soon after retirement because of the shock to the system of going from 40+ hours a week, full on work mode, to doing fck all in retirement. I believe that should be a concern for work aloholics. Me, I always lived by the model I work to afford my time off.

[Stillearly]

 the Baby Boomers and Gen X have been very lucky when it comes to pensions not many places in the U.K. offer the final salary pensions to younger workers and probably none in the private sector ... 

we have also been lucky with property prices as well , enabling us to have retirement choices that generations before and probably after ... don't have 

 

 

 

Edited October 8, 2023 by Stillearly

[Butch]

17 minutes ago, Stillearly said:

 the Baby Boomers and Gen X have been very lucky when it comes to pensions not many places in the U.K. offer the final salary pensions to younger workers and probably none in the private sector ... 

we have also been lucky with property prices as well , enabling us to have retirement choices that generations before and probably after ... don't have 

 

 

 

Yep, I'm lucky to be in a final salary scheme and have 25 years in it, along with a further 6 years of service I purchased using another private pension, so 31 years all tolled. If I work another 3 years that will take me to 55, and that was originally my plan.

However, plans change and are flexible. My biggest concern isn't the financial aspect, but the massive hole it will leave in my life. I can't play golf, I don't really want to be buggering about with cars anymore and filling the time will be difficult. I spend 50+ hours a week at work, so it is a big gap to fill.

[Jambo]

3 minutes ago, Butch said:

However, plans change and are flexible. My biggest concern isn't the financial aspect, but the massive hole it will leave in my life. I can't play golf, I don't really want to be buggering about with cars anymore and filling the time will be difficult. I spend 50+ hours a week at work, so it is a big gap to fill.

I can't play golf either but it took me 35 years of trying to come to that conclusion.

To enjoy retirement one just has to have other interests otherwise there really is a massive hole and you just vegetate.

Is there anything more sad than the guys you see sitting in a bar in the middle of the afternoon in Pattaya nursing a half of lager.

[Zambo]

6 minutes ago, Jambo said:

Is there anything more sad than the guys you see sitting in a bar in the middle of the afternoon in Pattaya nursing a half of lager.

Yes there is. The guys sitting in a bar in the middle of the morning nursing a pint of lager along beach road - not a small number.

[Derek Dangleberries]

45 minutes ago, Jambo said:

Is there anything more sad than the guys you see sitting in a bar in the middle of the afternoon in Pattaya nursing a half of lager.

 

36 minutes ago, Zambo said:

Yes there is. The guys sitting in a bar in the middle of the morning nursing a pint of lager along beach road - not a small number.

What is wrong with that?

Do you know what they were doing before having that beer? Do you know what they will be doing after that beer?

Jeez, I never thought I'd see criticism of other expat's lifestyles on this forum.!

I was having a beer in PBG at 09:50 this morning. Ten minutes before it opened..Does that mean I am unhappy in my retirement??

 

Edited October 8, 2023 by Derek Dangleberries

[Jambo]

8 minutes ago, Derek Dangleberries said:

 

What is wrong with that?

Do you know what they were doing before having that beer? Do you know what they will be doing after that beer?

Jeez, I never thought I'd see criticism of other expat's lifestyles on this forum.!

 

I wasn't criticizing just making a personal observation.

Sorry if I touched a nerve.

[Zambo]

28 minutes ago, Derek Dangleberries said:

 

What is wrong with that?

Do you know what they were doing before having that beer? Do you know what they will be doing after that beer?

Jeez, I never thought I'd see criticism of other expat's lifestyles on this forum.!

I was having a beer in PBG at 09:50 this morning. Ten minutes before it opened..Does that mean I am unhappy in my retirement??

 

I didn't post with any thought about retirement - despite the subject of the thread (in fact i would say there's a wide generational range among the morning crowd on beach road). I do agree that some will have just finished a 10hr night shift, some may be coming out from a harrowing dentist appointment, some suffer from chronic insomnia and possibly a few have fallen out with the wife and not sure where to go. No doubt some will have a quick beer and then return to their study to finish the novel they started last year, others may be enjoying their last beer in Pattaya before flying back to a bleak winter in Siberia and the less cautious may go for a swim in the sea. It would be possible to write a Leslie Thomas style book on the whole subject but with time constraints and limited talent i fell into the trap of making a crass criticism of other expat's lifestyles - will try to do better.

[Derek Dangleberries]

37 minutes ago, Jambo said:

I wasn't criticizing just making a personal observation.

Sorry if I touched a nerve.

So how many did you see today? Or last week?

It isn't you. It is the stereotypical bullshit spurted out by others that winds me up.

I have said multiple times that I am very happy here..

[Derek Dangleberries]

2 minutes ago, Zambo said:

I didn't post with any thought about retirement - despite the subject of the thread (in fact i would say there's a wide generational range among the morning crowd on beach road). I do agree that some will have just finished a 10hr night shift, some may be coming out from a harrowing dentist appointment, some suffer from chronic insomnia and possibly a few have fallen out with the wife and not sure where to go. No doubt some will have a quick beer and then return to their study to finish the novel they started last year, others may be enjoying their last beer in Pattaya before flying back to a bleak winter in Siberia and the less cautious may go for a swim in the sea. It would be possible to write a Leslie Thomas style book on the whole subject but with time constraints and limited talent i fell into the trap of making a crass criticism of other expat's lifestyles - will try to do better.

Or perhaps, like me, they do everything for themselves, cooking, cleaning, shopping. Just living a happy simple life.

[KhunDon]

9 hours ago, galenkia said:

Due to my addictive and self destructive personality I need a structured day.

With my savings,pensions and the £138k my sister gave me, I don’t need to work, but too much time on my hands and too much money, it really won’t end well.

Don’t run yourself down mate 👌

You’ve been steadfast in helping your sister as she goes through the most difficult part of her life, being there for her come what may. 
I doubt that she gave you all that money so that you can spunk it on nothing of worth, she’s given it to you to help you through the rest of your life, so do just that. 🤗

You may not have to work, but maybe get a part time job doing something that you like and keep that sharp mind of yours busy, if not for yourself, but for your sister.

Thanks to your sister, you have a nest egg now so shouldn’t have money worries for a few years, so use the life left to you and brake the circle of self destructive thoughts. 
You have the strength of will to do that, it just means you must take that first step towards a structured and what will hopefully be a better future. 
 

Good luck mate. 🤗👌

Edited October 8, 2023 by KhunDon

[galenkia]

4 minutes ago, KhunDon said:

Don’t run yourself down mate 👌

You’ve been steadfast in helping your sister as she goes through the most difficult part of her life, being there for her come what may. 
I doubt that she gave you all that money so that you can spunk it on nothing of worth, she’s given it to you to help you through the rest of your life, so do just that. 🤗

You may not have to work, but maybe get a part time job doing something that you like and keep that sharp mind of yours busy, if not for yourself, but for your sister.

Thanks to your sister, you have a nest egg now so shouldn’t have money worries for a few years, so use the life left to you and brake the circle of self destructive thoughts. 
You have the strength of will to do that, it just means you must take that first step towards a structured and what will hopefully be a better future. 
 

Good luck mate. 🤗👌

Thanks mate, brilliant post.

 I’m gonna give a big donation to the hospice out of it for they mainly rely on donations as the Tory scum government won’t fund them properly .

Jan is really pleased at me doing this in her memory.

[thegrogmonster]

3 hours ago, Derek Dangleberries said:

So how many did you see today? Or last week?

It isn't you. It is the stereotypical bullshit spurted out by others that winds me up.

I have said multiple times that I am very happy here..

I am an early drinker and this leads a lot of people to believe I am always at the pub which is far from the truth.
On work days I'll go to the pub from around 12:30pm for a couple of hours. On my days off I'll get to the pub at about 11am and head home around 3pm. These days I try and have a Sunday dry day.
Early retirement in 3 and a half years does concern me a bit as I have no hobbies and I don't play sport.

[lazarus]

I retired (18 years back) at 47yo. when I moved to TH. Enjoyed my 8 years living there but eventually it was enough.

Live a few miles from where I was born now...

Still do a few side 'gigs' once in awhile, but it's nice not to have the daily grind wearing you down.

Maybe will move back to TH for my last few laps around the sun.

[ChiFlyer]

I retired at 66. I married late (35), had 2 kids, got divorced. I felt responsible that I had to get my 2 sons through college level educations. All of this combined to put me in a financial hole where I had to keep working. I found time to help coach my sons' basketball and baseball teams.

Post-divorce (age 45) I quit drinking for 12 years. My career took off and I started making much better money. I was lucky with a small parachute from a merger, where I had a better job in one week.

I really enjoyed that first post-merger job. However, due to more mergers and management window dressing related to those mergers the job 20 years later became a daily taste of purgatory. I had over 50 people reporting to me, half of whom I had never met in person.

Like others have said, I am lucky in that I was part of the Boomer generation. I receive two pensions and SS. This is a decent retirement income combined with my investment windfalls from over the years.

At 66, due to a merger, I was receiving two pensions, SS, and a full time 6 figure plus salary. I am talking USD. This was difficult to walk away from. I would have been let go within 6 months, due to (yes) another merger. When let go, I would have been due 8 months salary due to my length of service. I walked. I probably left $200,000 on the table. I am glad I walked.

My boss tried to talk me into staying saying "do you understand how much money is involved?" My reply was "what am I saving up for? A better looking coffin?" We both laughed. I always liked her.

I live comfortably in a nice house here in Thailand and have a loving wife.

I guess the summary of my lengthy response is -> it all depends on your situation.

[coxyhog]

I retired fully at 65 & a half.Thought I'd retired at 63 & had a year of not working but then I was offered some ad hoc work 30 miles from my home in the UK so grabbed it-probably 95% of my work was out of digs or hotels.

I miss the laughs with the blokes,I had the good fortune to work on some great contracts where work & party were done with the same enthusiasm.Most aircraft maintenance engineers seem to suffer from a great thirst after work.

My advice would be to retire as soon as you can afford it,I've known far too many good blokes who either have not reached retirement age or have not lasted long after it.

Edited October 8, 2023 by coxyhog

[Butch]

5 hours ago, Derek Dangleberries said:

 

What is wrong with that?

Do you know what they were doing before having that beer? Do you know what they will be doing after that beer?

Jeez, I never thought I'd see criticism of other expat's lifestyles on this forum.!

I was having a beer in PBG at 09:50 this morning. Ten minutes before it opened..Does that mean I am unhappy in my retirement??

 

At my local pub there is a group of older gents who meet up every day at 11:00 and have a couple of pints and a chinwag, so to some, mid week drinking at 11:00 is a sign of a problem, but to these blokes it's part of their routine post employment. They mostly talk about football (One is a Fulham fan, but otherwise he's alright) - but they never reminisce or talk about when they were working.

I'd love the chance to be able to0 have a morning beer lol, can't recall the last time I had one before midday!.

 

 

 

[Mr. Smooth]

A month after I turned 56, I called it a career with the postal service. Combined with previous military experience, I walked away with a decent pension along with a social security supplement (an amount that a federal gov't retiree gets if they reach their minimum retirement age before 62) which will stop upon my eligibility for social security at 62. 

The timing worked out for me as a few weeks after I retired, my mother was diagnosed with early stage dementia and within a few weeks, I had moved her in to my house to care for her. By that summer, we relocated her to my sister and brother-in-law's home where my sister had quit her job to care for mom full time. She is now in a care home.

I lost many co-workers over the years, mainly health reasons, and I vowed that once I felt I could afford to leave, I would at the earliest possible time I could. I would eventually sell my home of 30 years in the Sacramento, Calif area and downsize to a mobile home in Las Vegas where I live now. My plan, or goal, was to move here to have a home base in the States, but to only live here about 6 months a year and travel the other 6. Many of you who live full time in Thailand, or specifically Pattaya, I find inspiration in, as you guys chose to live your life to your standard in a foreign country of your liking with good weather, mates, western-type amenities, and a choice of companionship when you like.

Like others here, I too miss many of my old co-workers, a few sadly who have passed on, but in reality, not quite 3 years after I left, there are really only a small handful, maybe 4-5, who I still keep in touch with. That old saw about being "out of sight, out of mind", really is true.

No regrets about retiring when I did. My biggest concern is keeping good health. As I have no current health problems closing in on my 59th in 7 weeks, I'd like to think and hope my best years are still ahead of me.

[Krapow]

If i hadn't had my daughter, i'd retire a lot sooner and do 'long stays' in Thailand, diving and what not.

And no disrespect to anyone, but i'd much prefer my daughter to get educated here in the UK than Thailand, unless i could afford an International school or similar. But to each their own, everyone's situation is different.

That said, i wouldn't swap it for the world. Very happy and contented, though a wee lottery win would give me more options re her education 

[ChiFlyer]

A retired Canadian buddy of mine uses the following answer to "do you miss working?" -> I had a broken leg once upon a time and I do not miss that either.

[KhunDon]

2 hours ago, Krapow said:

If i hadn't had my daughter, i'd retire a lot sooner and do 'long stays' in Thailand, diving and what not.

And no disrespect to anyone, but i'd much prefer my daughter to get educated here in the UK than Thailand, unless i could afford an International school or similar. But to each their own, everyone's situation is different.

That said, i wouldn't swap it for the world. Very happy and contented, though a wee lottery win would give me more options re her education 

Having a child educated in Thailand or in the UK was the main reason we decided to come back to the UK. 
My wife was happy to leave her family behind in order that our child had a good education here and we’ve been extremely lucky to get him into the top schools in the area, the final one of which is probably the best secondary school in the County which he started in September.
Despite us being well outside the catchment area, we managed to squeeze him in. 

We find it easier to bring her family here for 6months at a time as we have plenty of room in our house, so she probably sees her close family more than if she were to travel to Thailand twice a year during school holidays. 

[Pumpuynarak]

12 hours ago, Stillearly said:

 the Baby Boomers and Gen X have been very lucky when it comes to pensions not many places in the U.K. offer the final salary pensions to younger workers and probably none in the private sector ... 

we have also been lucky with property prices as well , enabling us to have retirement choices that generations before and probably after ... don't have 

 

 

 

BINGO

[Pumpuynarak]

11 hours ago, Derek Dangleberries said:

 

What is wrong with that?

Do you know what they were doing before having that beer? Do you know what they will be doing after that beer?

Jeez, I never thought I'd see criticism of other expat's lifestyles on this forum.!

I was having a beer in PBG at 09:50 this morning. Ten minutes before it opened..Does that mean I am unhappy in my retirement??

 

Nothing.......

 

[Pumpuynarak]

2 hours ago, KhunDon said:

Having a child educated in Thailand or in the UK was the main reason we decided to come back to the UK. 

 

4 hours ago, Krapow said:

And no disrespect to anyone, but i'd much prefer my daughter to get educated here in the UK than Thailand, unless i could afford an International school or similar. But to each their own, everyone's situation is different.

Wise decision guys, i agree 100% 👍