What age do you plan to retire?

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Hi all

We work really hard, get our certifications and ultimately it's to be more successful in the workplace, or at times hopefully just because we're interested. In work this month, two colleagues are retiring at 59. I'm 46 in 10 days and it has me thinking about my retirement. When will I hang up my boots to let someone else have a turn.

When do you think you'll retire? Are you planning for it or is it miles off?

James

 

Just turned 60 this year and my first thought was "when can I retire?"
Need to gather all of my seemingly many pensions and take some advice to see what is possible.


Ahh to retire to the golf course and the 19th hole

 

Practically, almost the same age. My retirement age is 68 (according to the UK Gov site)

I am hoping and trying to make plans to retire at the old retirement age of 65, maybe even at 63/64. However looking at my pension fund, I would lose approx a 1/4th, if I retired at 65*. And if i retire at 60, I lose 50% of my predicted pension (*provided I continue on the same type of job, on the same pension plan).

Now according to this site, currently you need the following funds to retire (in the UK):

These estimates assume homeowners with no rent or mortgage. If you're still paying housing costs, your target income may need to be higher.

Saying that I do work a part time job in addition, so that will help make up some of the loss if I retire early. But because it is a second job, I don't know how long I will work it (I really only took it up to gain my MSc). But at the same time, I do not know what the state of the UK state pension will be (as it's classed as a benefit and not a right), so to depend on that as a guaranteed income stream (imo) is not advisable.

So long story short... Planning on retiring early, but how early will be down to the state of my pension plan.

 

Me too mate, I've really stepped up my retro gaming recently have realised that it will be my retirement hobby too now

 

You're still young but not long to go mate, hopefully life becomes one long golfing holiday for you

 

I hear you mate, it's impossible to say isn't it, all depends on what the gov decide to do, so many things out of our control. I've no idea for me, there's no way I could go 50 something, or if I did i'd be taking a big hit

 

That's incredible. You've done great, I'm sure it's very well deserved.