How to retire early?

RoboMac said:
I've heard the above described as the Go-Go years, the Slow-Go years and then the No-Go years
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Go-Go age 60 to 74

Slow-Go age 75 to 84

No-Go age 85+

You have to know your expenditure or expected burn rate and apply CPI to expected income in retirement, on the basis there’s no going back to work once your retirement decision is made.

Complexity is always government interference in moving the State pension age, 2028 is mooted to be a point when they raise retirement age to 67 for access to State pension. Hence, I’m spending nothing and funding avcs for an age 62-63 exit
 
Annieindublin said:
New strategic vision, yawn, new backend IT systems and a new workflow associated with it. Change of reporting lines so I’ll have a new boss.
We are dripping with management consultants so the end company will be very different, I’ve seen this a few times and each period of change is tiring and I’m not interested anymore.

I know, it’s me not them
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None of this sounds realistic. To me it sounds like hyperbole. But i get it, youre disgruntled. As am i.
 
Annieindublin said:
New strategic vision, yawn, new backend IT systems and a new workflow associated with it. Change of reporting lines so I’ll have a new boss.
We are dripping with management consultants so the end company will be very different, I’ve seen this a few times and each period of change is tiring and I’m not interested anymore.

I know, it’s me not them…
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A lot of what you’re saying resonates with my own work situation, I’m on CEO number 4 in about the last 6 years, makes me think of the nursery rhyme about the Duke of York and marching his troops up and the the hill

I like the mental stimulation, working with some smart people but tolerance for a lot of the other stuff very low these days. Much more focused on my own exit strategy now
 
We have about 8 staff focus groups and I think 12 change management consultants… actual staff under 200… the consultant-speak has taken over everything. If I was so inclined I could have attended 3 updates last week, 2 focus workshops and read 6 newsletters.. or rather immersed myself in 6 update newsletters … apparently we don’t read updates.. we immerse ourselves in the process.
In my next life I’ll be a change/transformation consultant. Use AI to generate updates and “advice”: easy peasey.

Unfortunately the cost of these is eye watering so no exit packages on the table.

Sorry off topic.

I am actually obsessing with my spreadsheets of what we need/want and what we have as income. And I’m factoring in that we may have to help with home care costs for my elderly parents.
 
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Snap - in the past.
I went through this process a few years ago in order to clearly identify my actual essential expenditure so that I could be clear on what income I actually needed in order to stop working.
But it's a useful exercise even outside of a retirement planning scenario.
In many of the Money Makeover posts here people don't seem at all clear what their actual/necessary household expenditure is and that's fundamental to most or all other plans.
 
jpmackey said:
I am head of a dept so cannot just go to a 3 day week or take 12 weeks off. I am either all in or all out.
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That frankly sucks and blows at the same. It also sums up why I've no interest in going further up the hierarchy- i value my time far to much to sacrifice it for a few more shekels which i don't particularly need. On the contrary i sacrifice pay for shorter working year because life is too short.

ClubMan said:
In many of the Money Makeover posts here people don't seem at all clear what their actual/necessary household expenditure is and that's fundamental to most or all other plans.
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100%. You can't estimate your required income without a fair idea of your required expenditure.

Although as i mentioned already, lifestyle inflation tends to ensure that expenditure expands to absorb available income, with the result that people start thinking eg that 2 newish cars, the most recent iPhone or whatever are actual requirements rather than luxuries...
 
BIG-notorious said:
That frankly sucks and blows at the same. It also sums up why I've no interest in going further up the hierarchy- i value my time far to much to sacrifice it for a few more shekels which i don't particularly need. On the contrary i sacrifice pay for shorter working year because life is too short.
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Don’t get me wrong, I have a good work-life balance. I’m not doing 60 hour weeks!

I am happy for the extra shekels: the pay difference, the pension increase, and being able to pay more into AVC will allow me to retire fully about 2-3 years sooner than what I did before.
 
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