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Whats it all about Alfie ?

Whats it all about Alfie ?

Old Feb 16th 2012, 6:58 am
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Default Whats it all about Alfie ?

Im currently thinking about my retirement age (I know sort of leaving it late at the grand old age of 42!)

Im thinking 55 is a relatively young and healthy age (barring the 3 pack of cigs habit!) to have a good retirement age or is that too young ?

Is 65 still perceived as the age to retire - why 65 ??
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Old Feb 16th 2012, 7:02 am
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Default Re: Whats it all about Alfie ?

Originally Posted by UKCityGent View Post
Im currently thinking about my retirement age (I know sort of leaving it late at the grand old age of 42!)

Im thinking 55 is a relatively young and healthy age (barring the 3 pack of cigs habit!) to have a good retirement age or is that too young ?

Is 65 still perceived as the age to retire - why 65 ??

State Pension age for men ?
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Old Feb 16th 2012, 7:11 am
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Default Re: Whats it all about Alfie ?

Originally Posted by co durham boy View Post
State Pension age for men ?
I dont think i would rely on the government (UK or any others) to provide for me in my old age - GBP102 a week doesnt get you much nowaday (and probably less in 20 yrs when i officially retire)
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Old Feb 16th 2012, 7:16 am
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Default Re: Whats it all about Alfie ?

Originally Posted by UKCityGent View Post
I dont think i would rely on the government (UK or any others) to provide for me in my old age - GBP102 a week doesnt get you much nowaday (and probably less in 20 yrs when i officially retire)
Agreed but that wasn't the case 40-50 year ago when the age was probably set .
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Old Feb 16th 2012, 7:47 am
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Default Re: Whats it all about Alfie ?

Hi Citygent,

Personally I can't imagine ever not working as I love what I do but would like to wind down as I get older. My plan is to have made my millions by 45/50, make some investments and I would like to think by 55 I could work part time and pick and choose the projects I work on, maybe some lecturing and writing projects rather than the full on chaos that my work currently involves. have a little retirement project that keeps me occupied, some spending money dripping in but requires less time, maybe a project I could do from anywhere so could do it whilst travelling.

I have no pension etc so will have to be self sufficient.

I think by the time I reach old age (currently 35) the retirement age will be 70 at least so I would say you have to look after yourself in this day and age,and considering my gran is now 94 and still going you need to be able to finanace a good few years.

Personally I would hate to plan to retire at 70, my dad had a severe stroke at the age of 56, his retirement has been spent disabled and miserable- one of the main reasons I stopped smoking actually. retirement is only fun if you have your health, so quit the fags! and the ammount of peopele you hear who have died a week after retiremnent- so sad- best enjoy the whole of your life rather than just waiting for retirement I say!

Also need to find a billionaire husband lol
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Old Feb 16th 2012, 8:01 am
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Default Re: Whats it all about Alfie ?

Few people will be able to afford to retire before 65 as most are not making financial provision for it. The sums you need to set aside to fund a comfortable retirement are higher than most think and you are unlikely to be happy with a basic UK state pension (assuming you have full entitlement by paying voluntary National Insurance contributions whilst overseas anyway) and the value of a house.

State pension age of 65 is purely arbitary. It was picked as a suitable age by Otto von Bismark, of all people, at a time when most men died before the age of 70.

It's simple really. If you want to retire in financial comfort then you had better save a lot of pennies.
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Old Feb 16th 2012, 8:07 am
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Default Re: Whats it all about Alfie ?

meow- what would you suggest as a retirement plan?
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Old Feb 16th 2012, 8:46 am
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Default Re: Whats it all about Alfie ?

Originally Posted by kittycat1 View Post
meow- what would you suggest as a retirement plan?
Any method of saving money will help. Planning for your future/retirement isn't just about pension plans, although they have tax breaks for UK residents.

Everyone's situation is slightly different so there isn't a one size fits all answer. It all depends on current situation, timeframe, tax situation, how long you'll remain an expat, age, views on risk etc. The point that that people have to save, and save large sums if they want to be financially comfortable in later years. Putting aside just a thousand dirhams a month is just not going to be enough...
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Old Feb 16th 2012, 8:50 am
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Default Re: Whats it all about Alfie ?

Originally Posted by UKCityGent View Post
Im currently thinking about my retirement age (I know sort of leaving it late at the grand old age of 42!)

Im thinking 55 is a relatively young and healthy age (barring the 3 pack of cigs habit!) to have a good retirement age or is that too young ?

Is 65 still perceived as the age to retire - why 65 ??
Retire as soon as you can afford to live comfortably for the rest of your life.

My old man decided that was 53 even though he was aiming for 55.

If i could retire at 55 as you're planning then I'd be pretty happy.
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Old Feb 17th 2012, 8:53 am
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Default Re: Whats it all about Alfie ?

you need to be pretty bloody well off to retire at 55
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Old Feb 17th 2012, 10:13 am
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Default Re: Whats it all about Alfie ?

If you retired at 55, it is possible that you could live as long in retirement, as what your working life was.

With advances in medical research/treatment, it can be difficult to kill somebody off these days!!

Therefore you would require a large pot of money to fund your retirement, sadly most peoples ideas of what they'll need, is way off what they'll really need.

The sooner people start saving for the future the better, best to take control of the situation, and not be reliant on others to do it for you.
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Old Feb 19th 2012, 12:52 am
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Default Re: Whats it all about Alfie ?

Right - that's enough!! Will you lot please stop banging on about retiring at 55???
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Old Feb 19th 2012, 2:26 am
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Default Re: Whats it all about Alfie ?

Originally Posted by The Dean View Post
Right - that's enough!! Will you lot please stop banging on about retiring at 55???
Still more than 30 years to go for me to save then.
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Old Feb 20th 2012, 6:33 am
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Default Re: Whats it all about Alfie ?

Originally Posted by Its Easy View Post
If everything is paid off (homes, vehicles, boats, plane) it doesn't really cost that much to live. Debt is the killer
You sir are a weapons grade bellend
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