Cars in Retirement - what did you do?

RedmondC said:
I have been considering this as well. I am retiring next year at 53 and heading to Spain using cash savings and early drawdown. Crunching the numbers I am dropping the car and going to locate near good public transport links. Saves Depreciation, Diesel, Tax, Insurance and Services.
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Hey RedmondC

Care to share how you are managing to retire at only 53?

g
 
I had plans to retire to Spain. Was there a few weeks back. No thanks , not the south anyways. The heat would kill you ! Perhaps the north. Galicia etc. wonder where you plan on going RedmondC. ?
 
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Harfang said:
I had plans to retire to Spain. Was there a few weeks back. No thanks , not the south anyways. The heat would kill you ! Perhaps the north. Galicia etc. wonder where you plan on going RedmondC. ?
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Galicia is also a Celtic nation was there a few years ago, no tourists, no hubbub, just life in such a simple way I began to wonder why we have so much crap in our lives.

Back to cars , today we visited a Toyota dealership to inquire about her last car, and we are not quite yet retired, but its close, apparently they can't sell a car now as they have reached their quota of hybrids and will know in September what qty they'll get to sell beginning in Jan-23.

Driving home she said " maybe I'll hang onto this" it's a Jag e-pace with 45000kms and a rattle, a new edition rattle the car is 2018...

Even having €800 a month net , car Allowance theres very little to buy.
 
My good wife drives a Peugeot 206....year 2003.....an absolutely lovely car......we drive it everywhere. Small, good boot, easy to park. We intend keeping this car until it falls apart. At that stage will will probably start driving the other ornament in the garden a bit more.
 
Just keep in mind your no claims bonus is only valid for two years. So best to swap insurance between your partner within this period. This will require change of ownership on the car to do and may be an issue on a three year pcp and if a new car having more owners will affect its value.
 
garbanzo said:
Hey RedmondC

Care to share how you are managing to retire at only 53?

g
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Hi
I have paid into a pension since 18 private sector and always been a saver. Own house no loans no kids. Life’s short work done. Now enjoy health willing. (Oh also enjoyed life while working lol)
 
RedmondC said:
Hi
I have paid into a pension since 18 private sector and always been a saver. Own house no loans no kids. Life’s short work done. Now enjoy health willing. (Oh also enjoyed life while working lol)
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Hats off to you having the presence of mind to contribute to a pension since age 18. I was involuntarily enrolled in a pension scheme at age 21 and I can (hazily) remember that I didn't give two hoots about it at the time as the notion that I would ever be of age to retire seemed so far in the future that it was up there with science fiction stories. (When I was older I did appreciate having been shoved into it at 21 which is why I'm a supporter of the auto-enrolment project as an idea.)
 
my plan is to move into the city in next few years, be within walking distance of shops, hospital, train and bus stations etc, sell the car and never again drive.
 
LDFerguson said:
Hats off to you having the presence of mind to contribute to a pension since age 18. I was involuntarily enrolled in a pension scheme at age 21 and I can (hazily) remember that I didn't give two hoots about it at the time as the notion that I would ever be of age to retire seemed so far in the future that it was up there with science fiction stories. (When I was older I did appreciate having been shoved into it at 21 which is why I'm a supporter of the auto-enrolment project as an idea.)
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I jointed my company one at 26 when started my first 'real' job after trying other industries, travelling etc post college. Best bit of financial advise my Dad ever gave me.
 
TRS30 said:
I jointed my company one at 26 when started my first 'real' job after trying other industries, travelling etc post college. Best bit of financial advise my Dad ever gave me.
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Dads. Bless them. :) Only earlier this year I had a meeting with a young lady aged 23 who was enrolling in her employer's pension scheme, which we're the brokers for. Like you, her first proper job after college. She told me that her Dad had been pressing her to join as soon as she was eligible. I recommended that she do three things: -

  • Thank her Dad from me for the excellent advice.
  • Get used to the discipline of having a pension contribution deducted from salary and continue it in any future job she might have.
  • Remember to thank her Dad again if he's still around in about 30 years when she has experience of the magic of compound interest.
 
LDFerguson said:
Dads. Bless them. :) Only earlier this year I had a meeting with a young lady aged 23 who was enrolling in her employer's pension scheme, which we're the brokers for. Like you, her first proper job after college. She told me that her Dad had been pressing her to join as soon as she was eligible. I recommended that she do three things: -

  • Thank her Dad from me for the excellent advice.
  • Get used to the discipline of having a pension contribution deducted from salary and continue it in any future job she might have.
  • Remember to thank her Dad again if he's still around in about 30 years when she has experience of the magic of compound interest.
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I also had a similar Dad and 30 years later, I am very grateful for his insistence on pensions as Sunday dinner conversation
 
Look ahead said:
my plan is to move into the city in next few years, be within walking distance of shops, hospital, train and bus stations etc, sell the car and never again drive.
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I'll be the polar opposite. To butcher the old NRA slogan, you can take my car keys off me when you prise them from my cold, dead hands. I actually like driving and more importantly I really value the sense of freedom and independence that having a car gives me. I might not actually use the car for a few days ... but I could. I think I'd only give it up if we had a really good and reliable public transport system. (My earlier statement is an exaggeration, by the way. I know that at some point, if I make it that far I'll probably be so doddery that I'd be a menace on the roads and some poor relative will have the unenviable task of convincing me to get rid of the car in the interests of public safety. But I wouldn't dream of it until then.)
 
My grandson (18 year old) started his first job to day. As he was going out I said to him "next Friday will be your first payment into your pension". No Gran came the reply I need to be three years with the company before I can become a member.
At least he read the manual, he may even take heed!!!
Meantime he can't wait for his full driving licence
 
It took us 3 years after retirement to get around to it but we sold older car, for more than we expected due to demand for 2nd hand cars, and traded bigger car against an EV. It's mildly inconvenient but we plan around the one vehicle. We live outside of town and public transport is not realistic or convenient.
 
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