FIRE - Final Year

[Darka]

Congratulations Darka. I’m now 4 months into my 6 months part time transition to retirement. Working from home obviously.

What I’ve found most enjoyable is the absolute abundance of spare time, and absence of any pressure to fill it with worthwhile activity.

I’m hoping that come Spring we’ll be released from lockdown (in part at least) and I’ll be able to travel a bit and eat out! Having worked for all of my life (now 59) I’ve deliberately planned to spend a year doing nothing much.

Thanks Joe,

Going part time prior to retiring is a good idea, I might consider it but suspect I'd be too excited over getting out completely so might not be able to face it
How many days a week do you work?

I'm looking forward to all the free time too and significantly less stress, can't wait!

[Darka]

Yep, 'saver to spender' I'm finding to be a difficult step.

I forced myself to spend some dividends last year and whilst earning that wasn't too difficult of course.
Not sure how I'll feel once no longer earning, but hope to just get on and enjoy it and still save some to help overcome that hurdle.

[staffordian]

Yep, 'saver to spender' I'm finding to be a difficult step.

I forced myself to spend some dividends last year and whilst earning that wasn't too difficult of course.
Not sure how I'll feel once no longer earning, but hope to just get on and enjoy it and still save some to help overcome that hurdle.

I think part of the answer to this dilemma is to have confidence in the income stream.

This is where an accumulation phase involving dividends helps, even if it isn't necessarily the optimum strategy.

Swapping to an income strategy at the point of ceasing work can lead to potential uncertainty.

[Darka]

I think part of the answer to this dilemma is to have confidence in the income stream.

This is where an accumulation phase involving dividends helps, even if it isn't necessarily the optimum strategy.

Swapping to an income strategy at the point of ceasing work can lead to potential uncertainty.

Agreed, my whole investment strategy was to build up income first, I've added some more growth stuff recently but the income was the initial goal.

[Joe45]

Congratulations Darka. I’m now 4 months into my 6 months part time transition to retirement. Working from home obviously.

What I’ve found most enjoyable is the absolute abundance of spare time, and absence of any pressure to fill it with worthwhile activity.

I’m hoping that come Spring we’ll be released from lockdown (in part at least) and I’ll be able to travel a bit and eat out! Having worked for all of my life (now 59) I’ve deliberately planned to spend a year doing nothing much.

Thanks Joe,

Going part time prior to retiring is a good idea, I might consider it but suspect I'd be too excited over getting out completely so might not be able to face it
How many days a week do you work?

I'm looking forward to all the free time too and significantly less stress, can't wait!

In the last months I’ve done around 30 hours a month. I log on first thing, do what I can and then log off. Usually finished by 10am so have the rest of the day free. Happy days!

[Stonge]

It took me three years to adjust to retirement after working two intense (NHS) days a week for the last three years before retirement. Of course the adjustment hasn't ended but it has got to a point where I enjoy and appreciate the state of being retired.

I've seen many bloggers give up retirement after a few months or a year or so and go back to work: IMO they didn't give it enough time.

Retirement is different and special, nothing like working. It takes time to decompress and wake up to living after the lifelong trance of working.

Everything else (hobbies, travel, voluntary work etc.) is secondary to this basic reality. Of course YMMV.

[stevensfo]

Congratulations Darka. I’m now 4 months into my 6 months part time transition to retirement. Working from home obviously.

What I’ve found most enjoyable is the absolute abundance of spare time, and absence of any pressure to fill it with worthwhile activity.

I’m hoping that come Spring we’ll be released from lockdown (in part at least) and I’ll be able to travel a bit and eat out! Having worked for all of my life (now 59) I’ve deliberately planned to spend a year doing nothing much.

Thanks Joe,

Going part time prior to retiring is a good idea, I might consider it but suspect I'd be too excited over getting out completely so might not be able to face it
How many days a week do you work?

I'm looking forward to all the free time too and significantly less stress, can't wait!

In theory, being within a few years of 'early' retirement, I have the right to go part-time and I've often thought about it. The problem is that we're so short-staffed, I'd be even more stressed than I am, so decided to stay full-time till the last day.

I have an aunt and uncle who were both able to get early retirement from teaching about ten years ago, and they serve as brilliant role-models, informing me of what was great, not so good etc. Funnily enough, Covid aside, they claim to be just as busy as when they were in employment. I have a long list of stuff I want to do when I retire, so I may be the same, albeit with that delightful feeling of knowing that I can choose to do absolutely nothing if I want! My biggest worry is having more time with the trouble and strife. She's the workaholic of the family and still hasn't got the message even after many decades, that no, I do not like half killing myself with gardening for hours on end!

Steve

[Darka]

My biggest worry is having more time with the trouble and strife. She's the workaholic of the family and still hasn't got the message even after many decades, that no, I do not like half killing myself with gardening for hours on end!

Steve

The lockdown and working from home for the last 12 months has kinds of been a practice for the domestic side of retirement, i.e. getting used to being with the wife 24 hours a day, and everyone needs their own space too of course otherwise we'd all kill each other

In the interests of fairness, she's had to get used to being with me too which some might say is more difficult....