Originally posted by rootsnall
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What age do you plan to semi-retire?
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Originally posted by slogger View PostI'm tempted to just say sod it - just do it. plenty of people travel with children - albeit at a slower pace - which is probably good.Comment
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Originally posted by rootsnall View PostHappy days, I dream of that I'm mid 50s and contracting part time, I retired fully and then bottled it when my pension pot took a hit in the early Covid days and got lured back. Pot now recovered. A late addition to the family means I can't really travel full on until I'm in my 60s. Plenty hobbies but there's a lot of time to fill ......
Without kids the numbers become a lot easier to deal with. With kids - and especially if they are at very different ages - the game changes massively, and each additional kid will add a few years work onto your life. Even with enough cashflow from investments/pension etc, you can't go off on a jolly while you have kids to bring up.
In my position I could probably semi-retire very soon (before 50 anyway) with a reasonable lifestyle, but the kids won't be off to Uni until I am close to 60. This means I can't exactly go off on an adventure around the world, but I do plan to take time out to travel and do things as and when I can, with the wife taking care of the kids while I do so.
Without kids and without huge financial commitments like a big mortgage, I reckon a single person could live a simple but good life on £2k a month. A married couple without kids probably needs £3k/month for a good life. A family with say 2 kids might need £5k (bearing in mind one annual holiday might cost you £5k!). If you've worked hard, been frugal and planned well for 30+ years, then I would be disappointed to have less than £10k/month coming in at the end of it - through whatever various means like property, pension, PLC dividends etc.Last edited by ChimpMaster; 5 January 2021, 15:16.Comment
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Originally posted by ChimpMaster View PostIf you've worked hard, been frugal, planned well for 30+ years and not got divorced......my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...
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Originally posted by ChimpMaster View PostThis means I can't exactly go off on an adventure around the world, but I do plan to take time out to travel and do things as and when I can, with the wife taking care of the kids while I do so.
If you've worked hard, been frugal and planned well for 30+ years, then I would be disappointed to have less than £10k/month coming in at the end of it - through whatever various means like property, pension, PLC dividends etc.
£10k/month I think half that is plenty with no mortgage.Comment
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One of the best threads in months. An interesting twist to the question
Suppose you had the 10k a month income as chip master states or whatever number you need would you still continue billing and working or not?
Put differently at what point do you continue to work when you have enough? When you enjoy it? Seriously I don’t know anyone who enjoys work which is why I askedComment
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Originally posted by NowPermOutsideUK View PostOne of the best threads in months. An interesting twist to the question
Suppose you had the 10k a month income as chip master states or whatever number you need would you still continue billing and working or not?
Put differently at what point do you continue to work when you have enough? When you enjoy it? Seriously I don’t know anyone who enjoys work which is why I asked
But then again I don’t take £10k a month because tax...
I’m not sure that after years paying as little tax as possible I would suddenly volunteer to pay higher rate for my pension...See You Next TuesdayComment
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Originally posted by Lockhouse View PostFTFYThe greatest trick the devil ever pulled was convincing the world that he didn't existComment
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Originally posted by NowPermOutsideUK View PostPut differently at what point do you continue to work when you have enough? When you enjoy it? Seriously I don’t know anyone who enjoys work which is why I askedComment
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Originally posted by LondonManc View PostThat's some criteria there. Most of us have failed at least one of those.Comment
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