sonlymewalter

I just hope mortgage rates don't go up with a bang once the global financial mess is sorted. I suspect it will, it did last time

Working in your own book store would be great

Kooky.

Oh I'm sure they will, which is why we won't borrow anywhere near what the fools will give us (we've talked to a mortgage broker and it's a scary sum indeed to a girl from Yorkshire).

I remember paying 15.4% on my first mortgage when I left Mr S Mk1...

sonlymewalter

Wise words. We've never borrowed the full potential for the same reason. I also remember interest rates in double digits

You're a long way from Yorkshire

Kooky.

Well my last mortgage (in 2002) was 157 quid a month for a lovely stone Victorian end of terrace.

sonlymewalter

...that could have been paid off by now

My first mortgage was 45 quid a week and it would have been paid off years ago. We just kept moving up to more expensive properties. I'm not sure that's a good strategy

I wonder if in 20 years time everyone's mortgage will seem as insignificant

Kooky.

I had it rented out for 550 a month! Shame my property manager was a crook and I decided to sell.

moneypenny20

That's the biggy. My dad retired when he was 65. Bored rigid, managed to get himself taken on in his old position on a consultancy basis for another five years then they said thanks but no thanks. Three years later he was dead from boredom and drink. It's not the be all and end all unless you truly have shedloads of hobbies and the money to enjoy them.

Pollyana

I can't imagine sitting around with nothing to do - in fact I probably belong to that odd group who would keep working even if they won the lottery, however, regardless of that I'm expecting to keep working until I am physically/mentally no longer able to. With no pension here, just a little bit of superannuation, and no pension to speak of from the UK, there's no way I'd be able to afford to live without a wage.
I did look at topping up the UK one, or paying more into the Aus one to make the figures more respectable, but I simply can't afford it.I can't imagine I'll be alone in this either, I should think a lot of us will find ourselves in the same boat.

JR230898

I'd hope to keep working, albeit as it suits, until I kark it.

livinginreality

I hope to keep working until 65 and beyond.Not so much for financial reasons but I like to keep busy,and even when I do retire from paid work I can see myself doing voluntary work in a charity shop!No rest for the wicked!!!

TillyG

DH & I joke that I retired at 28 That's how old I was when we moved out here just over 3 years ago. No plans to rejoin the paid work-force any time soon - new baby is due any time in the next 5 weeks so doubt I'll be returning to paid work until 2012 or thereabouts.

DadAgain

Sadly the age of my retirement will probably be determined to a large extent by the speed of my parents demise...

Its a morbid thought - but if they should die slowly from gradually declining health then I'm sure they'll spend their way through their assets and I'll end up having to fund my own retirement (i.e. work until I die). Unfortunately 'work til I die' probably wont be an available option, so work until I'm forced to retire sometime betwen 60 and 70yrs old and then sit in a corner hoping the pathetic looking superannuation I've accrued can outlast me, living on rice and water....

If however, my parents live a healthy life and have the good fortune to die (many years from now) VERY suddenly with no expensive decline, there would be considerable assets to be divided between myself and my sister. Which could easily fund early retirement a little while after the mortgage is paid off... stopping mid-50's could be a go-er....

Of course this relies on a number of things:
1) UK property prices not going completely belly up...
2) Parents not selling up and spending before then
3) Me outliving my parents!

stalybridge

I actually retired only this year at 56.

Im loving every minute of it, always pretty much hated going to work.

I wanted to have some 'me' time before I snuff it and 40 years is long enough to work I reckon.

spartacus

110

Dorutland

Oh so true!!

I had the opportunity of turning a hobby into work. I did and it ceased to be enjoyable. So I have gone back to work and keep the hobby as a hobby. On that premise, I will work for as long as I want to, possibly part time, and enjoy my hobbies.

The fact that I love my work does also have benefits!!!