Re: Retirement age

by skully Wed 25 Feb 2015, 03:38

horace wrote:7.30 at desk furiously tapping away on carp needing to be done that morning...

9.00 meetings and tappity tap until 6.30pm ...used to be able to plough on but unless I am in blind panic and get an adrenalin rush I stagger off home.

Hehe, I stand corrected, h. Cool

by embee Wed 25 Feb 2015, 03:42

skully wrote:
horace wrote:7.30 at desk furiously tapping away on carp needing to be done that morning...

9.00 meetings and tappity tap until 6.30pm ...used to be able to plough on but unless I am in blind panic and get an adrenalin rush I stagger off home.

Hehe, I stand corrected, h.

remarkably similar to woody's day ...except his tapping starts with an f

by JGK Wed 25 Feb 2015, 03:46

embee wrote:
skully wrote:
horace wrote:7.30 at desk furiously tapping away on carp needing to be done that morning...

9.00 meetings and tappity tap until 6.30pm ...used to be able to plough on but unless I am in blind panic and get an adrenalin rush I stagger off home.

Hehe, I stand corrected, h.

remarkably similar to woody's day ...except his tapping starts with an f

At the risk of having to get my coat...

you beat me to it.

by horace Wed 25 Feb 2015, 03:46

but I still like it!!! Might have masochist tendencies.... hmmn...followed Sth Melbourne in AFL and cricket (one exiled in spiv central and the other merged), then I spent all those years in Queensland ... scratch

by embee Wed 25 Feb 2015, 03:48

JGK wrote:
embee wrote:
skully wrote:
horace wrote:7.30 at desk furiously tapping away on carp needing to be done that morning...

9.00 meetings and tappity tap until 6.30pm ...used to be able to plough on but unless I am in blind panic and get an adrenalin rush I stagger off home.

Hehe, I stand corrected, h.

remarkably similar to woody's day ...except his tapping starts with an f

At the risk of having to get my coat...

you beat me to it.

As long as you dont get your sock ...or even worse RDs

by horace Wed 25 Feb 2015, 03:50

eeww...surely there is a society or prevention of cruelty to size 3 jnr socks

by furriner Wed 25 Feb 2015, 04:54

Good thread Taips, I have been thinking of this for a while now.

For large parts of my career I've worked in jobs where I could work from home or the office. I'm working in one like that now, in fact it's one where not only can I work from anywhere I choose - could be off on a beach for all they know or care. My 'job' most entails telling clients what to do, and then telling the young 'uns on my team to help those clients do it.

You'd think one would love it- on the contrary for me that lifestyle is a very fast road to apathy, disinterest and having a drink or five starting 1PM, hungover by 5PM. Jokes aside, that sort of things gets old very quickly. It's shit.

I read more than anyone I know, have a number of interests, but I need a formal work/life structure. Retirement is going to kill me off in a couple of years.

I'm trying to create a retirement fund, but I've realised that for me just as important is having something to do. Hence my long term goal - say in 5 years- is to create a small business of my own.

I don't much care what it will be, I don't even care if it doesn't make a lot of money. I'll need it to pay the bills and be there for me as my office for the rest of my life past the age of 60 or so.

I need to have something to do. I've seen too many examples of people who aged far too rapidly after retirement.

by taipan Wed 25 Feb 2015, 05:47

How does it work in India Furry? So you have to provide for your own pension?

by taipan Wed 25 Feb 2015, 05:59

Growler wrote:My take on the issue is simple. At age 17 I buried my father who, having left school at 14 died age 52. Ten years later I buried father-in-law who, having left school at 14 died age 55.

They were two of the finest men anyone could ever hope to meet in their life. After that second funeral, in a moment of contemplation, it struck me that both dads had died having only ever known school and work - and vowed there and then to myself that if I had any sort of control over my circumstances that I wouldn't do the same.

I'll be 55 later this year, and most readers will consider me fortunate to have been receiving a service pension for the last 12 years for giving 22 prime years to Aunty Betty. They'll be right - I'm glad I get it, because those 22 years of standing beneath Olympus, Spey and RB199 engines at full chat has shot my top-end hearing to shit, and I worked with all manner of stuff, some of which was banned years ago - in a workplace culture regarding Health & Safety, Environment issues and Control of Hazardous substances that under-30s simply wouldn't recognise.

On leaving the service, I worked for myself for about seven years, until failing health forced me to do fewer and fewer hours, and eventually stop altogether for a few years. The pension paid the essential bills and kept the wolf from the door. My partners wages from part-time cleaning allowed a few luxuries - luckily we've both got simple tastes and pleasures, and have an absolute abhorrence of waste of any kind.

My health issues have been under control for some time now so, like my partner, I also took a part time cleaning job at a local school. OK, its minimum wage and I'm way over-qualified - but the hours suit, there's no stress, and plenty of holidays. I don't see myself as a part-time worker - I consider myself semi-retired, and I can honestly say I'm reasonably content with my lot.

For sure, a lottery win or my premium bonds being drawn would make a difference. I don't mean millions - I wouldn't know how to spend that kind of money ........ but say £200K or so would clear the mortgage, get a more reliable car, and travel to a few places I've always wanted to see. The main thing would be that I'd no longer worry about ordinary bills landing on the doormat.

Interesting Growls, I assume a state pension will also kick it sooner or later.

Ditto on the lottery.

by taipan Wed 25 Feb 2015, 06:01

Brass Monkey wrote:Yeah cheers man, you're probably right, I've got another job lined up it's five grand more but more travel. So I don't know if I'm taking it. It's the fact I'm doing three jobs that's the real killer, the other two are linked my full time job, so I'm in a bit of a pickle.

I'm hoping that the other two are going to become a gravy train in about a year, after another year's slog. So I'm in a bit of a quandary as to the best option. I find I'm exceptionally resentful from 9 to 5, which is the part I'm finding the most difficult to cope with.

At the end of the day though, it's a harsh time, but I've got perspective. I know how fortunate I am to have such decisions to make.

Most people aren't even half as lucky... I've been there, when I've been begging for jobs and people don't want to know, you don't even know where the next meal is coming from. When it does come, it's Happy Shopper cornflakes with a dash of milk. The desperate panic when you're completely focked and you have no clue how you're going to get out of it - now THAT'S a problem.

Dan not sure about UK salary rates but 5k sounds like a serious increase.

by taipan Wed 25 Feb 2015, 06:47

taipan wrote:I don't mind the job that much. It's the 5am alarm and the hour drive each way that is the killer.

But on the other hand I don't exactly fear retirement except for the money bit. Plenty of books to read, bowls to play, movies to watch.

The only thing is, no one knows how much you need. A few know their magic figure but they ain't sharing. One thing I have always said, when I'm done im done. No grubbing around for a few extra bucks. That's the plan anyway

To clarify the grubbing remark. A lot of people here reach retirement age and then beg their employers for a short term contract as they are financially unsound. Once I leave this job I am gone.

by furriner Wed 25 Feb 2015, 07:00

Taips, there is pension if you're a government official. For the private sector there are a few savings schemes (they're for everyone, actually, nothing exclusive).

But in either case they do not amount to much. Both options have definite but very limited value in a economy with high inflation. Many people live with their children to survive, especially widowed women, or depend on remittances from them. Others that I see manage to scrape by on a pension, but my exposure is limited to the middle/ upper middle classes. What happens to the lower classes is that they live with their children as they grow old, period.

With the private healthcare sector behaving like organized ripoff artists preying on the vulnerable (this is not an exaggeration), and the government medicare system a wall in hell (this isn't either), it's not going to be a pleasant journey for most people. I know of one person who decided not to have his cancer treated because he did not want the squalor of government hospitals, nor bankruptcy paying private sector bills. He died in 6 months, but left his family something to build on. He was stoic to the end. It was the bravest, most graceful way to go that I have seen in my limited experience.

by taipan Wed 25 Feb 2015, 07:10

Aye, Furry the private healthcare here isn't much better. I have recently been dealing with a financial adviser to try and get my limited resources in order. The point he was most emphatic about was that once you are retired. The thing you pay first, before food or rental, is your medical insurance.

by furriner Wed 25 Feb 2015, 07:31

Problem is Taips that even private sector medical insurance in India isn't that efficient, nor does it go- from my limited understanding- very far when you're dealing with a 'super specialty' hospital in India. I know a fellow who in 20 days almost wiped out his US cash/ liquid savings paying for his father's medical bills.

Private hospitals literally charge five star daily rates over here for your stay, and that's not counting treatment expense. Their staff are instructed to keep you in the system for as long as they can, never mind that you were technically dead weeks ago (as happened with my friend's father). It's one of those scams that you know will end in a huge bust up at some point.

by taipan Wed 25 Feb 2015, 08:28

Just when you think you are badly off, you find someone that is worse off.

by Brass Monkey Wed 25 Feb 2015, 09:32

taipan wrote:
Dan not sure about UK salary rates but 5k sounds like a serious increase.

Yeah, it's a big increase. I have to offset that by, ATM, a couple of grand train fares. Probably travel fees on the other side as well. They do give proper pay rises at the new place, though. I don't know really. It would most likely be less interesting as a job, but there'll be less stress. At this job I'm doing everything (currently on a touch screen project that'll revolutionise our packing lines - they're spending a £30k government tech. grant on it). A lot to weigh up, when offsetting the other two jobs on the go. shrug

Just don't know.

Hate programming anyway, that's the crux of it. Unfortunately, the other two things I'm good at (blowing my load and skinning up spliffs) don't have much demand in the job market.

by taipan Wed 25 Feb 2015, 09:39

It's hard for us to comprehend the pay there when converted by the biazarre exchange rates.

by tricycle Wed 25 Feb 2015, 10:34

furriner wrote:Taips, there is pension if you're a government official. For the private sector there are a few savings schemes (they're for everyone, actually, nothing exclusive).

I think that a 100 year old former govt employee can get upto 90k in pension. Crazy amount. But usually is something shit.

I dread falling ill, was much easier for my dad being a public sector employee.

by Red Wed 25 Feb 2015, 10:48

I'm still a long way off retirement but have been observing people retiring over the years. Many come back for short-term contracts to give them some travel money. Some have planned their finances pretty well and are comfortably off. We have reasonably good super which we can boost through salary sacrifice as others have alluded to.

Interestingly the majority say that they're so busy that they wondered how they ever fitted work in. The key to a mentally healthy retirement seems to be to have things planned whether it's hobbies, travel or alternative work. There are stories of those who fell off the perch quickly because their careers defined them and once they finished up they could not deal with the void suddenly staring them in the face.

Men appear to suffer more from this clearly because they spend most of their lives in work due to the reproductive imperative of females and the way, in particular earlier generations were conditioned to believe that they were the primary breadwinners.

Men sometimes are less likely to have friendship networks too for whatever reason. Some look forward to more reading, watching films on DVDs a bit of travel etc. but as also has been mentioned above, sometimes this is not enough to replace the structure that work provides. Though I love holidays I do notice that it is easy to allow bad habits to creep in. It is not hard to see how some may become aimless.

Anyway the aforementioned thoughts are a bit jumbled but that's my tuppence worth.

Oh and the mortgage has to be the number one priority. I know several mid-life people who either haven't invested in property yet or have humongous debts. It is hard to imagine how one would retire without the security of a roof over their head. I bought in my mid-twenties.

by furriner Wed 25 Feb 2015, 11:48

Ngam, if you don't mind my asking- are you into coding?

by taipan Wed 25 Feb 2015, 12:03

Red wrote:I'm still a long way off retirement but have been observing people retiring over the years. Many come back for short-term contracts to give them some travel money. Some have planned their finances pretty well and are comfortably off. We have reasonably good super which we can boost through salary sacrifice as others have alluded to.

Interestingly the majority say that they're so busy that they wondered how they ever fitted work in. The key to a mentally healthy retirement seems to be to have things planned whether it's hobbies, travel or alternative work. There are stories of those who fell off the perch quickly because their careers defined them and once they finished up they could not deal with the void suddenly staring them in the face.

Men appear to suffer more from this clearly because they spend most of their lives in work due to the reproductive imperative of females and the way, in particular earlier generations were conditioned to believe that they were the primary breadwinners.

Men sometimes are less likely to have friendship networks too for whatever reason. Some look forward to more reading, watching films on DVDs a bit of travel etc. but as also has been mentioned above, sometimes this is not enough to replace the structure that work provides. Though I love holidays I do notice that it is easy to allow bad habits to creep in. It is not hard to see how some may become aimless.

Anyway the aforementioned thoughts are a bit jumbled but that's my tuppence worth.

Oh and the mortgage has to be the number one priority. I know several mid-life people who either haven't invested in property yet or have humongous debts. It is hard to imagine how one would retire without the security of a roof over their head. I bought in my mid-twenties.

I would say education is the number one priority.

by Red Wed 25 Feb 2015, 12:07

taipan wrote:
Red wrote:I'm still a long way off retirement but have been observing people retiring over the years. Many come back for short-term contracts to give them some travel money. Some have planned their finances pretty well and are comfortably off. We have reasonably good super which we can boost through salary sacrifice as others have alluded to.

Interestingly the majority say that they're so busy that they wondered how they ever fitted work in. The key to a mentally healthy retirement seems to be to have things planned whether it's hobbies, travel or alternative work. There are stories of those who fell off the perch quickly because their careers defined them and once they finished up they could not deal with the void suddenly staring them in the face.

Men appear to suffer more from this clearly because they spend most of their lives in work due to the reproductive imperative of females and the way, in particular earlier generations were conditioned to believe that they were the primary breadwinners.

Men sometimes are less likely to have friendship networks too for whatever reason. Some look forward to more reading, watching films on DVDs a bit of travel etc. but as also has been mentioned above, sometimes this is not enough to replace the structure that work provides. Though I love holidays I do notice that it is easy to allow bad habits to creep in. It is not hard to see how some may become aimless.

Anyway the aforementioned thoughts are a bit jumbled but that's my tuppence worth.

Oh and the mortgage has to be the number one priority. I know several mid-life people who either haven't invested in property yet or have humongous debts. It is hard to imagine how one would retire without the security of a roof over their head. I bought in my mid-twenties.

I would say education is the number one priority.

Agree, but assuming one is well-educated with a career, knocking off the mortgage is essential to equanimity when thinking of retirement.

by taipan Wed 25 Feb 2015, 12:11

Red wrote:
taipan wrote:
Red wrote:I'm still a long way off retirement but have been observing people retiring over the years. Many come back for short-term contracts to give them some travel money. Some have planned their finances pretty well and are comfortably off. We have reasonably good super which we can boost through salary sacrifice as others have alluded to.

Interestingly the majority say that they're so busy that they wondered how they ever fitted work in. The key to a mentally healthy retirement seems to be to have things planned whether it's hobbies, travel or alternative work. There are stories of those who fell off the perch quickly because their careers defined them and once they finished up they could not deal with the void suddenly staring them in the face.

Men appear to suffer more from this clearly because they spend most of their lives in work due to the reproductive imperative of females and the way, in particular earlier generations were conditioned to believe that they were the primary breadwinners.

Men sometimes are less likely to have friendship networks too for whatever reason. Some look forward to more reading, watching films on DVDs a bit of travel etc. but as also has been mentioned above, sometimes this is not enough to replace the structure that work provides. Though I love holidays I do notice that it is easy to allow bad habits to creep in. It is not hard to see how some may become aimless.

Anyway the aforementioned thoughts are a bit jumbled but that's my tuppence worth.

Oh and the mortgage has to be the number one priority. I know several mid-life people who either haven't invested in property yet or have humongous debts. It is hard to imagine how one would retire without the security of a roof over their head. I bought in my mid-twenties.

I would say education is the number one priority.

Agree, but assuming one is well-educated with a career, knocking off the mortgage is essential to equanimity when thinking of retirement.

I was referring to the children's education.

Now that is finished I will hopefully kill the mortgage in the next couple of months.

by Brass Monkey Wed 25 Feb 2015, 13:30

furriner wrote:Ngam, if you don't mind my asking- are you into coding?

Coding? Programming? Into it? No. Do I do it? Yes. I've programmed in most things. It's dogshit. Soulless. Very unrewarding after the second time you do something new.

by JGK Wed 25 Feb 2015, 13:42

Red wrote:I'm still a long way off retirement but have been observing people retiring over the years. Many come back for short-term contracts to give them some travel money. Some have planned their finances pretty well and are comfortably off. We have reasonably good super which we can boost through salary sacrifice as others have alluded to.

Interestingly the majority say that they're so busy that they wondered how they ever fitted work in. The key to a mentally healthy retirement seems to be to have things planned whether it's hobbies, travel or alternative work. There are stories of those who fell off the perch quickly because their careers defined them and once they finished up they could not deal with the void suddenly staring them in the face.

Men appear to suffer more from this clearly because they spend most of their lives in work due to the reproductive imperative of females and the way, in particular earlier generations were conditioned to believe that they were the primary breadwinners.

Men sometimes are less likely to have friendship networks too for whatever reason. Some look forward to more reading, watching films on DVDs a bit of travel etc. but as also has been mentioned above, sometimes this is not enough to replace the structure that work provides. Though I love holidays I do notice that it is easy to allow bad habits to creep in. It is not hard to see how some may become aimless.

Anyway the aforementioned thoughts are a bit jumbled but that's my tuppence worth.

Oh and the mortgage has to be the number one priority. I know several mid-life people who either haven't invested in property yet or have humongous debts. It is hard to imagine how one would retire without the security of a roof over their head. I bought in my mid-twenties.

Oh I'm definitely going to take up Bridge if I ever retire.

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