No jumping off the ladder for me rather an intentional and gradual step off. Curating a life I dont feel the need to escape or take a holiday from. Both ceased full time work a 1-2 years ago, work remotely a few days each week. Both of us now navigating reducing hours down to bare minimum before official retirement in mid 2025. Also bought a regional home 4 years ago, that will become our permanent home eventually. However, this is a house that keeps us very active so it's not a long term strategy, but in no way ready to spend my days in an over 55s unit any time soon. After a lifetime in the city, I love living near nature and challenging myself with garden and house projects, and getting to know a new community. It's good for my health too.
Three years ago I certainly didn't think about retirement despite being in mid 60's. Office life changed quite a bit post COVID and work didn't feel right, happy, fulfilling anymore but rather just too much. So the need for major surgery appeared and after recovery I decided was the time to call it in. So have been retired three months now. Love the lattice concept, Bec.
I have a new perspective leaving corporate life. Now it is a week of Saturdays. Whilst there is freedom, there are lots of new things still to add. I did some planning around retirement but there were gaps.
I was contemplating retirement but with my division closing down and nothing suitable, I was not working for a while. I had some personal projects I needed to do and having lots more Saturdays to work on them, was handy.
The sense of release has been wonderful but there are some areas around preparing for retirement, I wish had thought about and tackled much earlier. It is probably a natural thing for many of us to look at issues only when upon us. I did an okay job building a set of financial goals at 50 to be in place by 67. That meant I could aim and check my progress and keep focus on super contributions and other investments (property and shares).
That being said these are 5 things I would have done differently:
- bought property when younger (maybe even shared an investment with a trusted family member)
- contributed more to super when in my 40’s (the compounding would have made a much stronger balance in my 60’s)
- not selling shares that were obvious they had great long term growth
- not travelling more (easier when younger)
- spent more time keeping up with friends (not as easy to reconnect with past friends and definitely harder to make new ones)
However, there are a few things I did really well (after 50) that have created a good position:
- paying off mortgage as quick as possible allowed for more contributions to super post tax
- making contributions to super pre-tax
- putting super investment allocations into higher yield (over time high growth should compound much higher return despite some downturns)
From this, if I could suggest two things:
- look at super as the biggest investment of your life (even bigger than your house) and starting planning how it will shape at every decade. This does not stop once retired.
- Constantly think about how you want to spend lots of Saturdays. Maybe having a semi-retirement with 3 Saturdays (a Sunday) and 3 working days will give you time and opportunity to prepare for full retirement.
No jumping off the ladder for me rather an intentional and gradual step off. Curating a life I dont feel the need to escape or take a holiday from. Both ceased full time work a 1-2 years ago, work remotely a few days each week. Both of us now navigating reducing hours down to bare minimum before official retirement in mid 2025. Also bought a regional home 4 years ago, that will become our permanent home eventually. However, this is a house that keeps us very active so it's not a long term strategy, but in no way ready to spend my days in an over 55s unit any time soon. After a lifetime in the city, I love living near nature and challenging myself with garden and house projects, and getting to know a new community. It's good for my health too.
Three years ago I certainly didn't think about retirement despite being in mid 60's. Office life changed quite a bit post COVID and work didn't feel right, happy, fulfilling anymore but rather just too much. So the need for major surgery appeared and after recovery I decided was the time to call it in. So have been retired three months now. Love the lattice concept, Bec.
Cheers, Thora
After 50yrs of work, it is time to retire. Now is my time, retiring overseas. Still healthy, fit & curious. Let the journey begin.
I have a new perspective leaving corporate life. Now it is a week of Saturdays. Whilst there is freedom, there are lots of new things still to add. I did some planning around retirement but there were gaps.
I was contemplating retirement but with my division closing down and nothing suitable, I was not working for a while. I had some personal projects I needed to do and having lots more Saturdays to work on them, was handy.
The sense of release has been wonderful but there are some areas around preparing for retirement, I wish had thought about and tackled much earlier. It is probably a natural thing for many of us to look at issues only when upon us. I did an okay job building a set of financial goals at 50 to be in place by 67. That meant I could aim and check my progress and keep focus on super contributions and other investments (property and shares).
That being said these are 5 things I would have done differently:
- bought property when younger (maybe even shared an investment with a trusted family member)
- contributed more to super when in my 40’s (the compounding would have made a much stronger balance in my 60’s)
- not selling shares that were obvious they had great long term growth
- not travelling more (easier when younger)
- spent more time keeping up with friends (not as easy to reconnect with past friends and definitely harder to make new ones)
However, there are a few things I did really well (after 50) that have created a good position:
- paying off mortgage as quick as possible allowed for more contributions to super post tax
- making contributions to super pre-tax
- putting super investment allocations into higher yield (over time high growth should compound much higher return despite some downturns)
From this, if I could suggest two things:
- look at super as the biggest investment of your life (even bigger than your house) and starting planning how it will shape at every decade. This does not stop once retired.
- Constantly think about how you want to spend lots of Saturdays. Maybe having a semi-retirement with 3 Saturdays (a Sunday) and 3 working days will give you time and opportunity to prepare for full retirement.