I realize that the people who retired early are not the norm. Your retirement provisions are not that different from ours. My “official” retirement date for Social Security, our federal Ponzi scheme, is 66 years and 6 months. The monthly payout goes up by 8% for every year that I put off taking it, up to the age of 70. So the most important business decision of one’s life is–when are you going to die?
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i absolutely did plan to go in 7 yrs at 60, but the last year working from home has been a difficult experience with no office banter etc, and stuck at the dining table has made me think and see if i can re evaluate this. Working for local govt has its perks but they have made it very clear that we will not be returning for no more than two days a week due to staff relocating to county hall as they rationalise building portfolio to get back covid funds. Pension illustration needed i think…
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Seems like I’m not alone here!
I’ve been planning retirement for a few years now, and all the stars seem to be aligned.
I’ve got plenty of hobbies like running, cycling, watching MCFC, walking the dog. On top of that plenty of catching up post lockdown and - hopefully- ample financial resources to pull it off. Maybe even a HiFi upgrade.
I’m reassured that there is life on the other side.
I’ve just come in from sitting on the terrace with Mrs Bruss with a glass of something sweet and alcoholic discussing our next move, or not, holidays post covid and enjoying wall to wall sunshine, a view and 25 degrees. Retired just sucks sometimes. 
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I retired last October (at 61) and it’s been brilliant ever since!
Yes it’s early days…and unpresidented times…but still brilliant
I think may people overestimate how much money they will need…and just how much time they have left!
I don’t think you will hear many people say " do you know I wish I had kept working longer" after they have retired
Just do it
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Yes, I read about your cousin earlier, very sad and condolences to the family. I’ve known too many in my profession locally not even get to retirement so I’m very conscious of that, and added to by Mrs Mikes year-now of cancer therapy and three rounds of melanoma myself.
I’m approaching 55 on Monday and had hoped to retire. I’m currently in the mind set of transitioning to more part time from my current 4 day weeks. I’m self employed and find it quite hard to manage the peaks and troughs - still not finding the amount of spare time I’d like too. I’ve my last system upgrade and an on-suite to get done mid this year and will work on dropping back to a few days work a week with all the school holidays off.
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Depends on consideration of “need”, both while still at work and when retired… Hobbies, pastimes and indulgencies can be every bit as expensive after retirement, if not more so with the time to indulge them - while being at work means less time for other interests, and going to work need not be expensive depending on distance and means of transport. Of course, some people with mortgages pay them off on retirement, and that certainly reduces outgoings - but then some people pay off their mortgages beforehand, while even if not common it is not unknown for people to keep up a mortgage into retirement.
I retired 10 years ago at 55. Working is highly overrated. I had my own company, did well, but it was like working 2 jobs for 20 years. I would do things differently next time, but I’d still retire early.
It’s been great. Tons of things to do. It takes a little while to get other people to realize that you’re not ‘available’ all the time, before you can get some things done.
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I retired at 63, The mistake was I retired in October 2013. Courses I wanted to do had started in sept, the nights were drawing in and the weather was getting worse. So I was a bit lost till after Christmas when I got on two courses for Photoshop and photography.
Retire in the spring when you’ve got summer to enjoy.
It was a lot better when my wife retired in 2016 and we could clear off with the caravan , have long holidays in New Zealand and Australia rather than just 2 weeks.
Now I don’t know how I had time to work, a cliche I know but true
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I think that is another excellent observation - pick the time of year you retire. Spring with the year ahead is a great time. Autumn with Winter approaching would be very difficult.
Also, from my perspective when retired I feel I need to do a day’s ‘work’. Even if that is going for a walk, bike ride, DIY, in the garden, sorting the music collection. To sit down at the end of the day feeling you have achieved something is really important.
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Broadly agree, but I have to keep reminding myself there’s no need to work 8hrs to a state of exhaustion! Pacing, and limiting efforts in proportion to advancing years is important.
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Reasons for needing less money include: less need to buy stuff as you already have it all; having time to seek out the best deals on stuff like insurance (couldn’t be arsed when I was earning more than I needed); but probably the biggest is the ability to benefit from time related discounts, especially on holidays and meals out etc. Dining mid day or mid week and holidaying away from peak demand periods as well as bagging last minute bargains makes a huge difference to me. Treats and holidays are what I spend most of my money on and the savings run into thousands of pounds a year. Then there is the cost of going to work - commuting, clothing, plus being able to live where you want rather than in travelling distance to work.
My income is around half of what it was but I seem to have much more to spend on what I enjoy.
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I expect that is most people in the UK or will soon be.
timmo I agree completely with your comment. If one takes that view it’s ok to have a bit of work where there is no stress ( I know that’s pretty hard to find these days) I’m very lucky at my ripe old age of almost 71 to be in that position.
A few shillings in the pocket to upgrade the Naim gear
I’m quite amazed how many people here have retired in their 50’s, it’s certainly not the norm here in Australia
But each to their own , my time will come shortly no doubt
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It is pretty amazing when you think about us early retirees. As you say, retiring in your fifties indicates we have earnt enough in approx 35 years to sustain us for another 35 ish years.
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I have no stats to back me up, but I would wager a year’s pension(!) that those financially secure enough to retire in their 50s represent no more than 20% of the population. We are undoubtedly privileged.
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We are on an expensive hifi forum. Of course we are privileged. We are probably also hard working or risk takers and all the other attributes that have enabled us to take advantage of life to become privileged.
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You are probably right, but I think a big part of the problem is that people get used to spending all their disposable income when they could be putting some of it into a pension fund.
Sure, there are plenty who have no disposable income, but I see lot of people borrowing money and paying interest purely to feed their desire for instant gratification. The car you think you can afford on a PFP deal is a classic example.
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I usually describe myself as Semi-Retired. It sounds better than Unemployed or Not In Employment…
I was 56 when I lost my job - with a large UK based Aerospace company, who I had been with for over 30 years (loyalty counted for nothing, it turned out). At the same time, I was in the middle of a Divorce - and was being treated for Depression (neither of these factors swayed my employers).
I am now 62 - and hope to reach 63, later this year. I am still Semi-Retired. I have had several Voluntary roles - currently I involved with the CoVid testing programme, 2 days a week.
My finances have recently improved - thanks partly to Divorce related payments ceasing. I also have no Mortgage - and no Loans - to pay. So I have managed a few HiFi upgrades…!! And bought or built a few Guitars.
Just waiting now for the CoVid restrictions to ease again, so I can do more. I hope that this time - the easements will hold. But - being brutally realistic (given our Governments general ineptitude) - I fear it may be another false down.
But - lets hope not… 
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I’d suggest that, if you are struggling to take the final step, then now may not be the right time to take that step. Retirement was forced on me in 2016, when I was 55, after being hit by an idiot driver while on my bike. The head injury was clearly part of it, but I was totally adrift for a couple of year until I discovered a brilliant volunteering role. I was given added years so the income was not an issue, but it’s how to fill the day. You can’t be on holiday all the time and listening to music for ten hours a day is hardly a way to fill the time.
The camaraderie of work and a common cause is very uplifting - something I’ve been reminded of volunteering at the local vaccination hub. So have a good think about how you’ll find meaning before making that step. Maybe running your business is already the perfect thing, and maybe it’s something you can flex with the seasons. Just don’t rush into early retirement just because others love it. It’s not for everyone.
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