What age do you plan to semi-retire?

[cojak]

I have no idea what I'd do if I stopped working - so don't feel bad about that, you're by no means alone there.

If I were to stop working, I'd want to travel, which costs money (current issues notwithstanding). So, I'd have to have enough stashed that I could travel where I wanted in the manner I wanted, when I wanted. That doesn't lend itself very much to an early retirement and it's not a practical thing to do all the time so I'd need to have something else to occupy me.

I am more for going part time rather than giving up entirely. Several years ago I dropped down to three days a week (as I was trying to convince the client they didn't need me) and, in April my client put all contractors on a three day week for a month. This, to me, is a perfect balance of work and life.

Part-time is difficult when the industry is beginning to demand more from you even if you work a five day week.

(And for those who sniffily say that contractors don’t need to do that sort of thing, good luck getting that extension when the client is looking Eastward to off-shore replacements...).

But I would bite their hand off if I was offered 3 days a week.

[GhostofTarbera]

I am 50+ and I am already in a kind of semi-retirement. Meaning, I don't panic when the contract gets terminated or when I work only for 6-8 months a year. About 40k left on the Mortgage, I am sure I can pay it off.

But I am still not sure what my passion is or what I am good at (I'm being brutally honest!). Once I find that, I will jump into it. I guess that's when my retirement starts! (sounds like an oxymoron)

Government will love taking £1500 a week from your estate for your care home later in life

Pay it off , pay it off


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[jayn200]

Assuming you weren't having a laugh, you might want to rethink that one.

Having left academia (and with a partner still there), I can tell you that contracting is a lot less stressful.

Coasting, not so much. You've missed that boat by about 30 years.

Oh, and you probably won't get a job anyway, not even at a tulipty university.

Yes, yes I will and yes teaching at a tulipty university and doing very low quality research is much less stressful.

[courtg9000]

I am probably one of the people referenced by the OP as I retire as is recently previously mentioned on these forums in 11 days time at age of 45. My last contract is signed off and I am winding up the rest of my business interests.

It really isn't my choice to retire. My health is too far shot.

Referencing the OP. I will be financially ok. I wont have the Ferrari or the 10 bed mansion but that's ok I will be able to live. I won't divulge numbers here.

The big thing will be how to fill all those hours. I am still working on that plan! I have already promised myself that I will try and get the Telegraph crossword down to 8 minutes! We are considering buying a holiday home, motorhome, cabin cruiser or similar.

Most here won't be encumbered by the level of health issues that I deal with and on that basis and experience with the deal listings magazine I have been running is that there are shed loads of good alternative business opportunities out there if you want you occupy sometime and earn some money*

*investing in businesses can be risky, do tulip loads of due diligence.

[ladymuck]

Part-time is difficult when the industry is beginning to demand more from you even if you work a five day week.

(And for those who sniffily say that contractors don’t need to do that sort of thing, good luck getting that extension when the client is looking Eastward to off-shore replacements...).

But I would bite their hand off if I was offered 3 days a week.

Completely agree. There's only two, maybe three, clients in my network who would be happy with me working part-time with them.

I've tried to coach clients that they don't need to think along the lines of having a body for 40 hours a week but instead define what work needs doing and let the contractor (me) decide the hours.

Because effort is usually linked to a day rate, this is a hard concept for them to get around but taking them to a fixed price model is often a step too far.

When the opportunity for part-time presents itself, I grab it, even if it's only for a short time.

[jamesbrown]

Yes, yes I will and yes teaching at a tulipty university and doing very low quality research is much less stressful.

Good luck with that.

[cojak]

I'm not a great fan of much of the "FIRE movement" output but this blog post chimed with my experience:

5 Lessons From 3 Years of Early Retirement - Can I Retire Yet?

Basically, if you plan on doing something you are passionate about when you retire then you should be doing plenty of it right now - don't plan on retirement suddenly being the catalyst for it happening.

Completely agree with that.

I would love to be able to do more painting and bookbinding. I’m doing as much as I can now and I’m looking at taking a C&G bookbinding course next year. I’m not great at either, but if I can keep myself in paper and paint I’d be happy.

[BigDataPro]

Yes, yes I will and yes teaching at a tulipty university and doing very low quality research is much less stressful.

Recently I was asked if I am interested in teaching at the local university. That's when I realised that the latest technology teachings such as Big Data, DevOps are being outsourced to recruitment companies who pretend to be teaching.

So, I am sure you have a high chance of ending up in a top-class university.

[GhostofTarbera]

Recently I was asked if I am interested in teaching at the local university. That's when I realised that the latest technology teachings such as Big Data, DevOps are being outsourced to recruitment companies who pretend to be teaching.

So, I am sure you have a high chance of ending up in a top-class university.

A levels for grades then sir


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[BigDataPro]

A levels for grades then sir


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. It is understandable. Uni's doesn't have the latest skillset especially in IT. But I am so glad that they have understood that and sought outside help. What is the point of teaching something that is outdated, huh?

The uni in question was Birmingham University.