Retirement plan

I’ve finally got round to producing this post in the last few hours of 2018! OK, so not a formal retirement plan as such but just a few notes to keep me focussed for the next few years. I enjoy making plans although never have a problem in changing them if a new and better option presents itself. I don’t like my life to be too rigid although its good to have some direction!

Ideally I would like to retire at 60 so this is my aim. As mentioned, this isn’t ‘set in stone’ as you never know how your life may change or whether you can afford to retire when you plan to or even if you are still going to be around by then! Hopefully things will all be good so this is produced in a positive light…

Although Government pension arrangements changed in 2015 I am still fortunate to have a decent pension. I could still retire at 60 although my official retirement age is now 67 which means I will have a reduced pension at 60. As long as I have enough money to live the life I wish to live, I am OK with that.

If things go to plan (and I don’t have an impulse to pack in my job and go and work in Thailand as a teacher… hmmm there’s a thought…) this means I have less than 10 years left in the corporate world.

Plan as of December 2018

• Retire in 2028 at age 60
• Pay mortgage off by 2028; I could pay off extra each month but will need to balance this carefully with the following two important points…
• Spend the next 9 years travelling to more expensive places for example the Galapagos Islands. This is more affordable while I am working than it would be on a pension.
• Focus on the more active and adventurous trekking holidays for the next 9 years. I intend to continue doing these when I’m 60+ but as I am fitter now than I am likely to be as I get older I don’t want to have missed opportunities.
• Living the retirement dream… Retire at 60 and spend a few years as a nomad, travelling slowly around the world and spending chunks of time in different places. This is the time for freedom to do things that are more difficult when you only have 6 or 7 weeks’ annual leave a year, for example:
  • 6 months travelling around Australia
  • Long road trips through Europe
  • 3 months in Hawaii
  • US and Canadian road trips
  • 6 weeks island hopping around Greece
  • A few months in Central America
  • Walk the South West coast path
• Return to the UK and live a self sufficient semi off-the-grid life in a bungalow but with a camper van to continue regular UK adventures…
• As I want to have a long and active retirement I need to stay fit and healthy! My retirement plan for the next 9  years therefore includes:
  • Keep my weight at 8 st 6 or under (preferably around 8 st 3)
  • Exercise most days
    • Gym 2 or 3 times a week
    • 40 or 50 miles of walking each week
  • Do some stretching and yoga each day
  • Keep my mind as calm and stress free as possible
  • Eat mostly organic food
  • Limit processed food
  • Limit alcohol to an average of one glass of red wine a day (at the most)
• Get a promotion at work? This would boost my pension if I am to retire at 60…

On the health points above I did a ‘How Are You?’ quiz yesterday to check my health and fitness levels against those recommended by the NHS and thankfully I got a good score of 9 / 10.

Things to improve:

• Apparently I should be doing more strength exercises at the gym
• I would benefit from doing regular yoga and stretching
• I need to watch my alcohol intake!