Hi from UK - 47 and unsure about ER

[collingwood]

Hi
I am 47 and UK based. About 2 years ago we received a large unexpected inheritance which put ER into the frame for me. I have had a steep learning curve finances/investment wise - feel quite happy with the managing investments side of things, but am aware that I still have further work to do to track and establish income requirements in retirement and hence determine whether/when I reach financial independence. I am confident however that we could retire comfortably at 55, and possibly could pull the plug somewhat sooner. I am somewhat cautious and risk averse as a person and think it is quite likely that we could just sit on the money afraid to spend it and end up not fully exploiting the opportunities we have now.

My main dilemmas are not financial (that is what it is) but more about whether this is something I want to do. My doubts are many, and include the risks of destroying my earning potential at such a young age; the fact that I still have school age children and so my freedom is somewhat curtailed; and possibly most important, none of my peers is close to retirement and I don't know if I want to hang out with people 20 years older than me all the time. Plus I feel kind of self conscious about what people would think of me and potential barriers this might put up between me and my fellows.

Anyway I don't expect answers or to be told what to do, but it would be useful to hear others' experiences. Even better if anyone has come across any UK based forums or sites populated by the 'young retired' - most of what I have found is focused on people around my age or younger desperately trying to save up enough to retire sometime! Or any sources of information about how to reinvent life after compulsory work. One of my difficulties is that I don't love my work, but I suspect I may need it (for structure, identity, company etc) and I need to feel that there is something positive I woudl prefer to put my efforts into should I decide to retire.

Anyway I will stop here before I go on too long.

[REWahoo]

Collingwood, your concern is one frequently discussed on the forum. Here is a link to the FAQ's where you will find many threads on the subject: http://www.early-retirement.org/foru...day-30655.html

[collingwood]

Thanks REWahoo. I have also been catching up on the '52-is it time to ER' thread which is also salient.

In my case, I have done what I can to find balance in my work. i have never been a workaholic and am not much of a multi-tasker, so I find the constant juggle of work and family quite stressful. I am currently working 75% of full time, and that works out to about 30 hours a week - but it is a job that is never 'done', so it fills quite a lot of head space outside of that time, and I am of course surrounded by people doing 60 hour weeks so I constantly feel I am not doing enough. I am not progressing much either (but nor am I underperforming, I would say I am steady and valued but not in the top stream). Much of my time out of work is spent organising the children and making family life happen, and what I do find difficult is defining my own personal goals and carving out time for them. That said, I never wanted to stay home with the children either ;-) so I sometimes wonder, why now, why would it be different?

My other issue, is that I can't decide if it is work in general that I am turned off from, or my job in particular, or if I am just at a low ebb energy wise. I am certainly bored with my job (been here nearly 15 years) but all my career I have never felt really at ease in my work role or confident in my abilities and value.
I worry that if I stopped work, these feelings would simply follow me into my retired life and I would additionally no longer at least have the validation of a pay check. Does this make sense to anyone?

I will check out the FAQ. I am of course also reassured by the many who say that retired life is wonderful - I guess the trick is to relax into it and not feel guilty. I do enjoy my life when I am not working (too much in fact, which is why I don't feel motivated at work - given the choice, I'd always just rather not work!)

[REWahoo]

Quote:

Originally Posted by collingwood I do enjoy my life when I am not working (too much in fact, which is why I don't feel motivated at work - given the choice, I'd always just rather not work!)

Based on the above statement, retirement would seem to be something you would enjoy. Even if that turned out not to be the case, you would be in a position to explore new things, including finding work that did motivate you.

Sounds like you need a reboot...

[Walt34]

Welcome to the forum!

As you continue to browse around you'll find that others have and are having the same issues. This is another thread that touches on why so many have that reluctance to make the jump: http://www.early-retirement.org/foru...ork-42328.html