collingwood
Dryer sheet wannabe
- Joined
- Apr 22, 2014
- Messages
- 11
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.
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.