I worked my butt off from the age of 17. I paid off the mortgage and retired at 48. Now aged 70, I have experienced 22 years of real freedom. I have spent quality time with my son and two grandsons which would have been impossible if I had worked until 65. I realised early on in life, money cannot buy happiness and today's consumerism traps people into a spiral of personal debt. At the end of the day, whatever we accumulate during our lives cannot be taken with us when it is our time.
I always think about my late father. Born in 1912 he started full time work at 13. He was injured in WWII (18 months in hospital) and when he came back his employer told him his job had gone to someone else, cut his wages and demoted him. He worked till 65 and got cancer within a year, died in two. All the poor bugger wanted was a nice garden to enjoy. Governments don’t care about you. Employers don’t care about you. World events don’t care about you. Retire when you can.
Yep, exactly. We weren’t put on this earth to spend our entire lives going to work in the dark and coming home in the dark. I know it is really hard financially,especially for younger people now but I truly believe that you should retire as early as you can if that’s what you want.
Agree- similar story with my poor mother, she put all her very little wage jnto her kids- she never complained and did enjoy life over the years. She diagnosed with early onset dementia months before she retired. She got a 2-3 years but people already treated her differently after a year and then after that it was just more the disease than her she went into care full time and slowly disappeared :( All she wanted was to walk the dog and do news paper crosswords
Absolutely, your employer wont be there to help you apply for disability after years of never taking a sick day. The government wont make it easy for life long tax payers to get the allowance they need in old age.
I retired last October at age 53 … worked 37years on the railway and now my health isn’t great … I now live a simple life with photography as my hobby … keep up the good work you do
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $875k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Health is the most important thing in life. I remember this proverb. A man with good health can dream of doing anything, a man with bad health only dreams of getting better.
Retired last year at 57 I’d had enough of the NHS after 27 years. Travelling into London everyday, grinding Sold the house in Essex and moved to Lincolnshire, love the place ❤ I’ve seen too many colleagues die before or immediately after retirement I’m now very happy, I don’t have to worry about ANYTHING and have no debt, great friends and an awesome wife.
@@pauldeal68 Ah, we've found the Daily Fail reader among us! And, as we all know, ALL public sector workers only work 2 days a week, and spend the rest of the week playing golf, while wearing bowler hats and quaffing champagne like it's going out of fashion.
You must have had a pretty good job to be able to retire in oz at 45. Likewise I lived in the bush (ultima vitcoria). But couldn't retire....still had to do abit of work and to be honest it was very quiet there.
@GRAYnomad yeah kids are a huge sacrifice. Have you ever been Ultima/Lascelles/Swan Hill direction. Lived there for a few years. Nice people. Typical country folk but in general nice people.
@@GRAYnomadthe worst thing i ever did was wait till my 30s to have a kid, shuda done it in my 20s, lifed a good life but it all meant zero until id my son
Great video. I lost half my pension by retiring at 50. It’s definitely not about money and the time with my family and now grandchildren has been priceless. I will be 70 next year and will celebrate 20 years of being in complete control of my life.
I retired at 55 and for the following 10 years I had the best hillwalking of my life both at home and abroad. I’m now 86 in reasonable health but incapable of doing the things I once did. But so happy I have the memories to look back on of taking advantage of my fit years to be able do what I wanted to do.
Thanks a lot for sharing with us a bolt step. I also want to be free from taking instructions from another person every day even when you see it's not worth.
Was written off at 50! Started training in crumbling garage lifting rocks doing pushups on paint cans pullups on beams got ripped af at 53 years old!!!
Brilliant Eddy, I retired at 53 nearly nine years ago, as you explained the key is planning your £ . Like you I haven’t looked back , nobody lies on their death bed saying “ I wish I had worked another ten years “ . Thank you for posting. 😊
@@duckman5642so in actual fact, on your death bed you might actually say you wished you'd worked another ten years. Proving the commenter above incorrect 😊
This is a great video. Unfortunately for me I’ve gone through my life in the complete opposite way. One divorce and two failed long term relationships have seen me lose everything. I’ve grafted all my life as a carpenter but living beyond my means to keep others happy has finished me off financially. It’s taken me until 53 years of age to realise that less is sometimes more and financial worry is a killer, often literally. I’ll likely never have a permanent home again and will be working for as long as my body will let me but I have some peace of mind at last and will do what I can to survive older age when it comes! Stay well and healthy, thanks for the video.
I feel bad for you. That is one thing I tell my kids all the time. Your partner you choose and your relationship are going to make you or break you. The most important decision you’ll ever make (or close to!)
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Fellow police officer here. Thanks for your service. I am currently in the investigations division, and I have 4 years and 9 months until I can retire with a 27-year pension. I could work longer and earn more money, but I'm going to cash my chips in while I still have them in my hand. Health and time become huge factors in that decision as you stated. I have always loved my career, but with media and society's lack of accountability, it has grown increasing more difficult to continue. Congratulations on fighting the good fight and living long enough to see your pension. I tell everyone that this is the type of career where you are one bad day away from losing everything you've worked so hard for, so congrats.
I'm 55 and retirement is soonish for me too. Traveling all over the world isn't because I'm loaded. Like you, I live a simple life these days. When I was younger I had the big house and expensive car etc. With all that came added stress. As I got older, I downsized and focused on lifestyle more than material things. Good for you, Eddy.
Same here retired at 47 I'm 60 this year & I've never looked back, take on zero debt throughout your life & get that mortgage paid off as quick as poss, live a simplistic life & its doable, the great outdoors costs nowt👏👌👍
Take on Xero debt throughout your life and get that mortgage paid off did you really think that through before you sent the comment.youve been in debt for 25 years
@stephencomer9276 I think what he was getting at was credit card debt, car finance, loans etc for material nonsense. A mortgage is a debt with a goal for stability long term and investment. It's quite simple really.
Retired at 42 and moved to Spain. Enjoining every day, blood pressure down to normal, headaches reduced to once or twice a year. Never missed work for a second.
Cool. I left U.K. August 2021, sold up and invested everything, retired at 47. Live in Cyprus at the moment. Considering moving to Bali though in 2025 as you get more bang for your buck.
one common challenge is accurately estimating the required savings. With increasing life expectancies, individuals often underestimate the amount needed for a secure retirement.
That's true. In India, where the cost of living is rising, estimating retirement needs becomes more complex. Medical expenses, inflation, and maintaining a desired lifestyle all play crucial roles in the planning process. It's essential to account for these factors to avoid financial strain during retirement.
Recently retired in germany, I faced the challenge of ensuring my savings would last. The initial projections didn't consider unexpected health costs and inflation's impact on living expenses. Engaging a financial advisor was a game-changer; they helped reassess my retirement plan, ensuring a more robust financial strategy.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
I think most people want to try out a financial advisor, but the amount of information on the internet is overwhelming. Could recommend any good one(s)?
Overwhelming indeed. Maybe check out Sharon Lynne Hart. She's got a contact website. She's excellent and I work with her currently. I worked with one Kelvin in the long past. You could look him up too.
I retired at 51, never looked back, I volunteer for a couple of charities, because I enjoy it and benefit from the mental stimulation. I have more interests than time to enjoy them. However a friend of mine was in a career with a retirement age of 50, he loved the first 6 months of retirement, doing all those household jobs he had put off, then with very few interests, he sat and watched daytime TV, had a breakdown, heart attack, divorce etc. Everything went down hill. So my advice is always think about how you will fill your time, sitting around watching TV or UA-cam is not an option if you value your mental and physical health and if you are married, remember it's a massive change for your partner too.
Yeah for a lot of persons retiring can be a living hell specially if you don't have hobbies and close friends/family around with lot of free time like you...
Yes - completely can relate to this. I had a 'practice run' taking 12 months leave to celebrate turning 50. Indeed the first 6 months were GOLD. Doing projects around the house that I never had time with F/T work, and just enjoying the FREEDOM and lack of accountability (OMG those winter mornings staying in your PJ's and doing the daily puzzles from the paper were amazing). But then after 6 months I was getting anxious about returning to work, seeking a different career, trying to find things to do around the place, and just ended up vegetating many weekdays and playing PC games....it really made me think if I would get bored doing this routine for the next 30 years....or at least waiting for my wife to catch up and retire herself. So back to work now, sitting on the fence, wondering...when to retire and give up the job I really don't enjoy anymore.
Eddy, I am so happy to have found your channel. I am in a very similar position so your words really hit home. I am currently 52 years old, nearly 53. I served in the military for 25 years and am currently just over 9 years in as a police officer. I plan to drag it out till i am 55….depending on how many times i can stand being punched, verbally abused and spat on. I am literally clinging on. I have just bought myself a campervan in preparation for retirement and to start planning and getting used to it now…..ready for my next adventure. I am also enjoying it now and it allows me quality enjoyable stress free rest days. Thanks for letting me know it’s doable.
I retired a little before my 55th birthday. I bought a narrowboat, great community, move between brief city centre stops to top up the shopping and off into the beautiful countryside. You will enjoy it.
How about a road trip from the UK through Europe and on to Asia in the campervan?? That would be an epic journey. With military and police training and skills the journey would compliment them.
Enjoyed your video, the decisions you took remind me of my dad, i lost him in October 2023, he was a retired Police Officer, and retired at 51, he did 30yrs although his health was deteriorating. Like you he got rid of his car, and joined a walking club, always going to the lakes, best thing he did was retire, he had a good fullfiling retired life, kept himself active, and was 84 when he passed away. So proud of him, and i miss him every day.
Great video and that first point you make about the uncertain future in terms of your health and personal circumstances really resonated with me. I don't want to get too morose but I'm 53 and in the last 6 years 4 friends have passed away. I'm not talking face book friends or work acquaintances, I'm talking 4 people I've been very close to - or had been very close to😔 more accurately now - for over 30 years. 3 died in their late 40's and the other just last year at 51. All of them it was very fast. A heart attack, a grand mal seizure/ aneurysm and 2 who found out they had cancer when it eas already very advanced and both were gone inside 20 months. The point of that depression tale is that I know all of them were making retirement plans for a future 5, 10, 15 years off that will never come. It put me in a dark place but it also lit a fire under me and I brought forward my own retirement plans 5 years and stopped just 6 months ago now. When I read comments on vlogs of people retired in Thailand etc and people in the comments are saying things like - "that's me in 8 years just counting down the days" I just find myself shaking my head. People talk about the future like its a certainty, you're guaranteed your 4 score years and 10 at the very least in this day and age. Hopefully you will and much more - but nothing is a given beyond right now. Obviously rushing into retirement with no financial planning or idea about how and where you'll live would be foolish don't get me wrong. But equally I think its important to really keep focused on the now and if you want to retire ( and of course some people absolutely love what they do and don't which is totally fine) try to figure out what you NEED to achieve that as opposed to erecting unnecessary barriers. Just my 2 cents.
Great video - I couldn't agree more - I had a very similar set of thoughts about time versus money and managed to retire at 47 (I'm now 56) and like you keep myself busy with my "side hustle" which again like you is a UA-cam channel. I don't regret it for one moment, in the time since I strated doing the stuff I like doing (rather than having to do) I have lost two similar aged friends as me to cancer, and have another pal just diagnosed - you never know what's around the corner....enjoy life as soon as you can is my advice! Best of luck to you and thanks for posting this video...
Working in a cemetery two things are always upsetting, firstly burying children and secondly burying folks on the verge of retirement in their mid 60s ⚰
Worked with a fella who was coming up to retirement. A real nice guy who would help anyone with anything. He told me he was looking forward to the day he retired. The Poor sod fell down the stairs at home and hit his head. Not wanting to bother the ambulance service he phoned his ex-wife instead, but she didn't answer. He passed out soon after and died alone in his living room. You never know what is in store for you in this life.
The UA-cam algorithm has worked. perfectly. This video randomly came up on my feed. OMG. if ever there was a perfect time for me to watch this video, it's now! I too am 57, have worked for the ambulance service for 20 years, amongst a other things and too many times in my job I have seen couples in tears as we are rushing patients into ED with various ailments telling me, they have worked hard all their lives, only to be dealt with a sudden unexpected event, such as heart attack, or stroke. I have witnessed this too many times & like you I firmly believe we only have one chance at life. Let's live it. Absolutely fantastic, genuinely thought provoking video - I too have a YT channel, and I love to travel, vlog, hike, bike, camp, van life blah blah, and this video has inspired me to do even more of it. Thank you so much. I cannot fully retire, but am going part time very soon, as I just cannot work nightshifts anymore. they kill me. And if ever I needed encouragement I am doing the right thing, this video has been it. Thanks again Eddy. Just subbed. Adam 💪
Me too. I had to take ill health retirement last year aged 52, my whole life perspective changed to now looking at having good next 20 yrs and spending my time wisely. Likewise it’s now more to do with experiences rather than things for me, my wife and youngs son (and dog).
Really pleased for you Eddy. And, great video. I took a "Special Early Retirement" last year at 57. It was the best decision I have made! I'd been off work due to depression/anxiety and bereavement. i.e. cared for my Dad in his last 7 months of life. Then my sister took her own life. Wirk had a discussion with me and I agreed a separation. You realise that life is too short to waste, especially after bereavements. I've convinced my wife to retire later this year. She's just had a health scare so she's now 100% convinced! Time and health have to come first.
I would love to look at your financial statement. I wonder what your net worth is; do you own a house? What are your monthly bills and expenses, as well as your investments? Most people hide their financials for various reasons, such as fearing robbery. I partially understand this, as those nearby might become jealous and try to make our lives harder. However, I believe it is easier to share our finances with strangers; some people do. There is a guy on UA-cam, IsainvestorUK, who shows his investment portfolio and provides updates online. Additionally, there is a girl in London named Marta Lis who shares her ISA and other accounts, and she is financially free. So many people showing their life free of work,but they don't mention one very important aspect: finances. I might do my channel one day too.
Just retired at 56! Huge relief from the stress I was facing. As a very wise old man told me in my early 20’s …., “Life is not a rehearsal son”. No truer words said 👍
Got 3 weeks left of my 8 weeks notice at 56 going to retire. I have so many things I want to do whilst my health is still good. I've declutteted & started growing my own food a few years ago. I'm so excited about my next adventure of living. I'm not materialist so that's a big win as far as I'm concerned. It's about the quality of life from here on in.
68 and retired but still work 2 days a week doing deep cleans on ambulances....don't need the cash but it's a reason to get up in the morning, socialise and keep active...live near the Lake District with plenty of opportunities to get out and about, weather permitting.
Eddy, your video has seriously resonated with me. I’m now 55 and cannot get the thought of retirement ASAP out of my head. To do so isn’t going to mean I can live an extravagant life, quite the opposite. The money isn’t the motivating factor for me, it’s the chance to spend my remaining years the way I want to without being a slave to someone else’s rhythm. I’m about to embark on a similar UA-cam journey myself and it’s refreshing to see your video.
Nice to find someone with the right attitude towards the world. I'm 55 and semi retired four months ago. Work 3 days a week now at the same job that I did full time. It's a bit of a transition but I'm getting my head around having this freedom time. People are conditioned to think that they need this, they need that, and they work to try and get some false happiness from what they've been told they need. Once that realisation hits, that you don't need all this cobblers to be happy, it's a game changer. You got yourself a new sub Squire !
You're dead right about needing a purpose. I retired 4 years go at 56, after 2 years I could feel myself deteriorating. Got a part time job and immediately felt like I had a purpose again, only importantly with no stress attached. Now loving retirement.
Not technically retired, but I’m sure it feels like retirement as the part time job is probably more like a hobby/interest than a stressful job. I am in the same boat as I retired a couple of years ago from my career and a few months later started casual work. I still feel retired as I have completed control over the frequency and amount of work I do. The financial reward is also not the reason for working as it is more about fulfilment.
I became semi retired at 55. I now do part time food delivery on a 125 scooter. I happen to have paid off my mortgage at that time, kids grown and left home, so we needed less money. I love riding the scooter and feel healthier then when I was 40. Still have a small car, diesel smart car, cheap to run, we often visit the forest with our dog Max and generally walk a lot. Don't smoke, don't drink and not interested in spending £5 on a coffee, love picnics with my wife and dog. You've discovered that less is more!
As my GP said to me when I walked in the surgery feeling totally burned out from working 7 days a week running my business and feeling responsible for all the staff, I recall his words ‘Martin something has to change, and now, please understand that your health is your greatest wealth’ that was my moment of realisation. I’ve now transitioned the business into an employee owned business and gradually letting the staff take the reigns. I’m not retired yet but slowing down and doing less days
Great video (and a beautiful location). I'm hoping to retire next year at 49... teacher, so not rich either, but I am living in Vietnam, which is considerably cheaper than the UK! And thank you for your service in both the military and the police force.
Semi retired at 45 I work 2, 3 days a week .6 hrs a day ... I have a fantastic balance ,,, 52 now ? I looked at my older friends in the pub aged 64 ,66, and thought Na, they are all dead now , Chris my friend worked until 66 died 67 he retired 6 months , Alex he died before retirement, Eddie he died before retirement. I miss our conversations , j stopped going to the local pub because my table was full of empty seats. , I now live off grid ..building my own cabin , chop logs , walk daily , my body for a 52 year old , gets compliments from men half my age ,, i look good , i feel good ,
Hi there, it's amazing but your video just arrived into my feed at just the right time. As a nurse who will be 56 in May, I had intended to remain until at least 60 year of age. However, owing to all of the changes and introduction of metrics, performance indicators, tools, audits, more and more obligatory education courses, and a whole host of other bureaucratic additions to a days work, I am beginning to feel stressed during every shift. It is no longer enough to just be kind, efficient and attentive to my patient's needs, this has little value when measured using the business speak and measurement tools that have now permeated the health sector. I too am now considering calling it day after 28 years. I am encouraged by your story and wish you much good health in your retirement.
Retired at 51 and it is fantastic. I'm now mid 50s and seeing peers dying of heart issues and cancer. Get out while you can. If you can get your mortgage cleared, it's quite easy to budget and live a reasonable life.
Fantastic! The UA-cam algorithm has served me well in finding you, Eddy. I thoroughly enjoyed your video and quickly subscribed. I retired at fifty with very little education, so I have been addressing that part-time, and in the summer, I like bike-packing around the UK with friends. Fresh air and movement are the best anti-depressants available.
I retired just Christmas 2023 , at age 57 and I honestly think it's the best thing I ever did. I was a painter and decorator for Greenwich council and I had got to the point where I dreaded every Monday morning. I spend my time now doing what I want and not what someone else is telling me to do 😊
I quit my NHS role at 55. Currently living a leaner life for sure, but as I no longer got any joy from my work it was time to go. I now have fun painting and drawing and volunteer at a local aviation museum. Life has so much more meaning and if I get a day when I don’t want to do anything I don’t have to. While in the NHS, I saw far too many good people who had worked all there days in expectation of enjoying a long and happy retirement only to be told their cancer was terminal. Life’s too short so grab life while you can.
70+ and still working. Poor pension arrangements and a disrupted career have limited my retirement choices. Must be nice to work in the union backed state sector and having those risking the choppy waters in the private sector pay for indexed salaries, guaranteed pensions and early retirement etc. But like yourself, the pros generally outweigh the cons most days and I have a good sense of self worth. Best of all is not having to evaluate every minor expense.
@@enigma7791 Yes, it does sound like a cope. Fair enough if people love working, but, some people say stuff like this because they’re too scared to make changes. People will do more to avoid pain than they will to gain pleasure.
Watching this in Thailand! Aged 68 and retired at 66 . Sod staying in the cold UK and paying heating bills I'm spending 4 months out here every winter!!! I'm single with no responsibilities so why not?
Hi eddy. Inspiring video,looking at retiring at 60 am 58 now. Reason being my dad died at 59 and was planning to work till 65. He made a load of plans and they all came to nothing so i said to myself at the time (i was 24 when he passed) that i would be retiring early and now 33 years later im ready and i think financially secure enough to do just that.kind regards.
Hey Eddy, your video popped up in my feed and I soon noticed that you’re a local lad. I’m just down the road in. Teesside. Just subscribed! I’m 48 and although I have no intention of retiring yet I do run my own online business that allows me to live / work from anywhere and it’s super flexible so I’m not tied to working any specific days / weeks. Most of the business is programmed to run itself. When I work I’m essentially working on creating new projects that in turn will bring in money. So I do feel blessed and I love what I do. I rented my house out last year and have already spent 5 weeks in Bali, 3 weeks in Thailand and 3 weeks in India this last few months. Heading to Australia, Bali and Vietnam in a few months from now, with a couple of European trips in the meantime. Life is 100% for living and keeping your overheads and outgoings low is key so I completely agree with that. Consumerism prevents many people from retiring early or travelling. Keep up the good work!
Hi, 17 yrs military, 21 years cop, myself. Not an easy life. Retired at 58 yrs . Absolutely love it. Please introduce your dogs as people like me want to hear about them. How you interact. Liked the video. See , feel the past pains. Hopefully they do fade with time.
Talk about things being meant to be!! coming up to 25 years in May working at Nissan, been looking at getting out at 55 in 3 years time. to be fair I don't really know why I'm staying, love the lads i work with and the patter is mental but the Nissan pension has been shafted over the years, just feel I'm hanging on now just to get something back off them. Just casually watching UA-cam and came across this channel haha was just walking that path last Sunday with my wife.
My health forced me into early retirement and now I try to cope as much as possible living with a terminal illness which isn't easy on your own. I get out as much as I can and try to enjoy life but being in pain every day makes that difficult at times. Now I'm losing my sight as well my mental health has become a burden too. Saying all that I try to always have hope and even though I have nobody in the world my 2 cats provide me with a reason to get up and try every day and without them well I wouldn't be writing this comment. Excellent video as always Eddy when are you coming to explore the wonders of dartmoor?
@@Eddy-HopeThanks Eddy your videos are an inspiration and a comfort to me so keep up the good work. My father died when he was 53 and I've got a heart condition like he had so I take just one day at a time I don't look forward too much as I know with my health it can all disappear just like you said. Anyway time to get my shoes on and do some steps even though its chucking it down with rain. Thanks again Eddy.
Hi Eddie I just stumbled across your channel 😊 excellent tips. I retired last year at 53 . I had planned my retirement for many years, hoping to go at 50. I was in sales since 24 and on commission only, so I had the fortunate role to work when I chose. I started investing in the stock market 30 years ago and live off dividends paid mainly through isas. My key tips would be Retire debt free Have a structure or hobby. Accept that winter is more challenging 😊 mentally.. Make sure you have a good income coming in. And look after yourself mentally and physically 👍
Great advice, we waste time chasing after possessions too much, your health and time are the two most important things in life. Take a step back be greatful for what you have and as you say appreciate the simple things you probably didn't have time to notice before.
I retire next week aged 54. Having been in the army from the age of 16 then into the police. Your film has given me some key points to consider moving forwards. Thank you mate.
I totally relate to this. I worked hard and retired last year at 55. I could have carried on working but I didn't like what I did (on a laptop with conference calls all hours) and I was time poor. I love now being time rich and able to do the things I want, when I want. I enjoy cycling / walking and really looking forward to the better weather when I can get out more. My top tip to early retirement would be to live within your means and not take on too much debt. I've never owned a new car and live in a modest house, but I'm OK with that. Each to their own I guess.
I also think like you do, my father passed away at 56 and i'm now 58/59 in June. I keep hinting to my wife that i've pretty much had it with the working world but to no avail lol! Planned is to retire early at age 63 but i'm starting to have my doubts. We have no mortgage and have money saved. The only real worry I have is with medical insurance and how that would play out. We live in Germany.
Retired at 55 during covid ...still not convinced i have done the right thing having too much time on my hands sometimes does my head in especially during the winter and not having a regular decent income tendy to have me worrying about cash flow 🙂. I have a little part time job as the lack of contact and the social aspect of working full time is taking some getting used to. An interesting point you missed when retiring is you can pretty much become a leper to most old workmates when you leave i have basic contact with 3 people out of dozens i worked with and social events or just being invited out with the lads is few and far between. I actually needed a little job be socially keep active as it was getting me down m8t. Don't want to sound negative as many point you raise especially time and health are spot on !
Firstly, love the scenery. I walk that path at Shields loads. Secondly, I’m semi retired at 55 and loving it. Only working 14 hours a week and taken my pension I earned over 39 years work. No one ever said on their death bed “I wish I’d worked longer”.
How refreshing Eddy! You just popped up on my feed 😁🙏 Am 58 and have just given notice and leaving work end of April. I am taking my pension two years early and am good with what I will be getting. Stuff doesn’t mean much to me these days. I just want to dump that feeling that I have to work. I don’t! Good on you and thanks for the affirmation 🎉🎉
Life balance is so important and it’s too easy to get sucked into the system, like ‘keeping up with the Jones’. Time and health are the most valuable things because without them we all have nothing! Get out there and do it, whilst we can - that’s my mantra!! Great video Eddy 👍
“We buy stuff we don’t need with money we don’t have to impress people we don’t like”. The vast majority of people in the U.K. live their lives this way.
Retired at 55 after 35 years running very busy central London tube stations round the clock shifts..I knew it was killing me so I retired early.even though the car had to go and the wife buggered off three years in, I replaced them with a Honda 750 and a French bulldog..retired almost 8 years now and have not regretted a single day.time is all any of us have and none of us know how much we have left we wasn't put on this earth to work your life away and die.the question is not why retire early..the real question is why on earth wouldn't you.all the best.
One driving factor is whether you have a gold plated public sector pension , for most of us private sector workers on crap pay with hardly any spare money to throw at pensions or paying off the mortgage early is a pipe dream for 60% of the population.
Most of my working life was private sector but early retirement happened by following the exact same rules. Always being sensible with money, only buying what can be genuinely afforded etc. It can be done if one has the right attitude.
Police officers contribute a substantial portion of their monthly pittance of a wage toward their pension. I should know, I had to withdraw from paying pension contributions when I was a you police officer as my wage was so low. Private sector workers seem to forget this aspect. It is not all sunshine and roses being a cop, believe me. A lot of my ex-colleagues died just before or just after retirement. Heartbreaking.
@@kevinwall795the real issue is not that public sector pensions are too generous. Its that private sector pensions have been cut back to levels that are inadequate. I work in the pensions industry and get a bit irritated by people trying to cut public sector pensions. It’s the private sector employer pension contributions that need to improve to a sensible level. It’s a ticking time bomb that the government don’t seem to care about.
@@davidwhiteman4649 Good point. I joined one of the big accountancy firms in the 90s and I was the first or second year intake without the DB pension. In effect we were getting paid about 20% less for doing exactly the same job as we got a 5% employer contribution while the DB contribution was about 25%. And that was the level that is needed for employees to have a decent pension. 5% is an absolute joke. We should have had a higher salary to allow us to take on the responsibility ourselves. But no. The extra money was simply grabbed by the partners of the firm.
Thanks Eddy. I've just turned 45 and in the last yr had a significant health scare. I've been seriously considering my future and you've highlighted a few points that resonate with me, namely no kids, cars, or big mortgage. I live within my means but don't struggle with it. I do enjoy my job but it can be physically demanding and I really don't see myself 10/15yrs from now doing the same thing. Might now look into what I could do to reduce working hours or even retire.
I retired in 2016 at age 61. I approached my decision to retire the same way I had approached my decision to have children many years ago. That is "if you wait until you can afford it, you'll never do it!" I sat down at age 60 and made a plan and figured it out. Best thing I ever did.
10 місяців тому+5
Eddy you are spot on. Iv got the same mind set as you and have for a good few years now. Iv always cut my cloth to suit and im more than happy with the simple things in life and never take them for granted either!!!. I have a small terraced house very nearly paid off and have never wanted or needed to upgrade. I drive a 22year old small car and I’m more than happy with my lot. I’m planning on retiring in the next couple of years and doing exactly what you’re doing.👍 life is too short. Thanks for the video and I wish you well mate.👍
Just subbed. Thanks Eddy. I retired at 55. I went back to work last year. I worked for 6 months so as I cud get myself a few quid just to top up my small works pension. I’ve no mortgage which is a big bonus.
Retired at 47 in 2014! A former CFO/CPA/MS with a Global 50. Bought a house outright in Baja, Mexico, 50 miles south of San Diego, CA. I have 0 debt and sufficient savings to tide me over until I am able to draw SS at 62. My fixed monthly expenses are under 500 dlls and maintain a minimalist lifestyle. I also started a business to supplement my income and also to stay busy. I love my freedom and independence!!
I retired at age 52 and have not looked back. For the first year or so, I found myself telling people I used to be a teacher and tended to live in my past life. But one day I woke up and realized I needed a new or current identity. Once I came to that realization, my perspective changed completely. I wake up each day eager to learn new things or just take long naps. It doesn't really matter. I'm four years into retirment now and life is the best it's ever been!
Hi Eddy. I kind of held on until I was basically forced out at 67. That said, it was the best thing that could have happened to me. I would suggest anyone considering retirement take a look at all their expenses over time and work out a base level for that period. Compare that to expected income (pensions etc) and you'll have a better idea of where you stand. If appropriate, a financial advisor can provide a wealth of insight. Of course you need to 'cut your cloth' or at least be acutely aware of expenditures during retirement. It's a scary process at first as you lose the safety net of a consistent income. It helps to decide what you feel is important to you in life, that will drive the decision process. Nowadays I fill my time with my hobby (photography) and like you enjoy getting outside in nature, whether that be in the garden or hiking/taking pictures. I find THE best thing about being retired is that you can do what you want, when you want. Now if I could only persuade my wife to retire early and join me........
Enjoy this so much . Down to earth advice . I’m a born n bred Londoner hoping to move to cleethorpes on a pension of £25000 a year and small mortgage of about £250 a month in 2 years , I will be 58 . Recently got into my fitness 2 years ago and looking forward to a better pace of life . I currently work as a train driver on London Underground . I rent in London at moment but have small house I invested in to retire to . Love to see more of these videos and could do with all information I can get . …… I turned my life around 8 years ago after losses and addiction so all looking bright I hope . Thanks for a great video mate . 🎉
I remember being told about a person I didn’t know personally but this person was working all through life and came to retire at 65. On the same day that person retired and had a bit of a social drink with work to bid farewell sadly passed away that evening of a heart attack or related incident. Just shows you can’t plan for that imaginary future as who knows what’s going to happen
Wise words and great suggestions. Retired at 57 now 59, almost adjusted only issue I face is an inconsistent sense of purpose. Good days and bad days but over time more good than bad. Mental and physical strength seem to be my personal need as time goes on, that’s what I focus upon. Reject the negative and focus on the positive aspects.
You so resonate my thinking, I turned 60 last year just got made redundant, myself and partner, we're currently giving reselling a try, loving the idea of not wasting what we have on the ground, time to look after elderly parent, horses and dog, working full time left me on auto-pilot, you can't continue on it, cut your cloth accordingly are very wise words.
Thanks for your candid advice and insight into how and why you retired 👏. I’m 61 and in a quandary about what to do since I lost my job last April. I’m working on it and totally agree that health is your wealth. Good on you 👍🏻
Lost my job at 54, and I got ill very soon after. Mobility is limited, and they want to do nerve block injections before eventually operating. I'm nearly 56 and on a waiting list for injections. I'll likely be in my 60s before I can properly walk again. I'm likely never going to work again. But I'm happy with life, small financial stress that's insignificant compared to the stress of my work life. Like you, I have a UA-cam channel about my passion, and I'm enjoying learning new skills with that. As Bob Marley said, "possessions make you rich? My richness is life" ❤
Great video, thanks Eddy, very inspiring, I'm 53, would love to retire from corporate and so am building a UA-cam channel and side hustle to make that happen, so I can have more time to do what I love, exploring the world.
Good Video Eddy. Just came across you today. Being in control of your time on your own terms is the best thing you can possibly work towards. I work and run a side-project to help me towards that gaol.
I'm 57 and cant afford to retire but found a job that pays me enough to survive on 15 hours per week. People find it odd that i don't work full time. It really seems to bother them.
57 is actually not that strange an age to be retired. Lot's of teachers, police, firefighters and other public workers with pensions retire at 55 even 50.
Working full-time is like being in shackles. It’s truly awful. Literally little/no time to do anything outside of work, which over many years wears you down (both physically and emotionally).
@@ariefraiser140Yeah if you suck the government tit. Independents like me they expect us to work till 70 while they tax us so they can retire early with different insurance etc.Thank the Dems for this abortion
This is a great channel. I really would like you to focus on the financial side, because almost all of the retire early channels out there involved moving away Thailand, Bali, Portugal etc. It would be good to understand how you do it while still staying in a relatively costly country such as UK.
I semi retired at 50 , chosing to work in a care home for 20 hours a week on mimimum wage. It was the best decision ever . When you see people having worked all their lives end up in poor health and having to give up the family home to pay for care ,it puts life into perspective. Do what ever it takes to give up full time work. Don't take expensive holidays,give up the car ,live in the smallest house/caravan ,eat proper food live simply. You will not regret it. But like anything worth doing it takes courage and effort.
I retired at 53. I’m now 57 & it was the best thing I’ve ever done. Had a few health issues, but they were relatively minor. The freedom that retirement brings is truly addictive. Life is short, so enjoy yourself.
Cracking video, I done the same aged 49 after 32years in jobs that I found no personal satisfaction, like you say it takes people to think of what is the most important things in life to them.The only other advice I would offer is that before anyone retires, make sure you don't owe anything to anyone! Retire dept free and what you have will go further.
Class video eddy. Fellow Geordie. Love the accent. Thank god you got out of police, I got out NHS and wouldn’t go back for the treble the wage. My values and empathy did not align to a lot of the crap I was witnessing from 2020 onwards. Mortgage free at 44 and along with side hustles I am now embarking on a journey like you. Well done 🎉
I have no idea why this video dropped into my feed, but UA-cam algorithm must be pretty clever. Your video reaffirms my thinking of the last few years, where I've been fortunate to be able to overpay the mortgage, with the view to clearing it this year. Similarly to you, I want to be time-rich!
When I left school at 16, I got a job straight away, worked hard, got promoted and I always paid into a pension (my Dad told me too), paid in extra when I could, and also paid into an ISA when I had the money. I had a very stressful job, and it all came to a head when I was 47. Me and my partner sat down and went through all our finances and said that I could leave work. Went in the next day and handed in my notice and walked out. Now I am 55 and just started to take my pensions, and moved money so that I can take a salary. I was the best thing I ever did, and have never looked back. It was scary at first as I was earning around 42k, but as others have said money really isn't everything.
Hi Eddy, no idea why this came up on my YT wall, other than my mind being read...but I'm glad it did. You've mentioned all the things I've been thinking about this past year & at a similar age to yourself. I completely agree with you needing a purpose to retire to & I think not doing is a mistake made by many. I'm fortunate to have loved my self employed work, it's been my passion, yet now I'm ready to trade it in for total freedom in retirement. My only drawback being my driving purpose is to travel many countries overseas & at this current time, I'm unable to do so, due to responsibilities & love of my two best friends...my elderly dogs. Although they're healthy, they're too old to go to the hot weather countries I want to travel & the legistics would be extremely difficult. For the time being I'm enjoying my dogs, getting out & about as you do, while still working a little. I do feel in limbo, because I know what I'd be doing & where, if I was able to. For the time being I love my dogs & they love me, so their time & happiness comes first. A single man & his best friends. I've subscribed & I'll look forward to watching more from you & the lovely area you live. I know it quite well 😊 P.s I've also recently given up on driving/owning a car after never being without since 17yrs of age. The rising cost of insurance, plus costs to run a car etc has brought me to the decision. Being able to take my dogs with me on public transport has made the transition doable. All the very best to you & your best friends 😊
Cars, mortgages, credit, food 🤷🏼♀️🥺is crippling so many. Poverty stricken Britain 🇬🇧 such a sad state 🤦🏼♀️ it’s scary; I worry for my young grandchildren, i mean what is life going to be like for them? I dread to imagine to be honest. And homelessness is rife right now!
Eddy, this is probably the best example of retiring early scenarios I have watched. It covers all the possibilities. I am 59 now and retired at 55 and without doubt it is the best decision I ever made. All external worries have gone and I really couldn’t be happier. Enjoy your retirement.
I've been retired 4 years now I'm nearly 60 Just keep things simple, i got myself a allotment and have never looked back me and the wife love the allotment, retirement and a couple of afternoons in the pub
Hello and thank you for this encouraging video. While your video was not the catalyst for my own situation, I agree with many of the points you made supporting early retirement. I turned 50 in January and I retire next week (end of April). I plan on prioritizing many of the same things you outlined in this video. Spend more time with family/friends, take more time to exercise and be healthy, and pursue my hobbies (photography/drums/travel). People keep asking me what am I going to do once I am retired. I tell them I’m going to enjoy life and try to minimize stress. I hope you continue to enjoy a healthy and happy retirement. Thanks again.
My Gran used to say you had to ‘Cut your shirt to suit your cloth.’ I worked as a paramedic and was diagnosed at 52 with dyslexia I was forced into an office job following a physical injury and I too am clinging on for dear life. I’m 53 now with 15 months until I’m 55, I’m hoping I can hang on in the job until then. Thanks for sharing your story.👍
@@Eddy-Hopefurther update: I have now been clinically diagnosed was having ASD and highly likely ADHD. Less than a year to go now in work and my diagnosis will be a challenge my employer to actually provide some support. Things make more sense now, so hopefully with some reasonable adjustments I’ll make it through to retirement.👍
Morning Eddie coming up to 30 years in teaching. 55 this summer. Bumbbling through life tryijng to crawl through work in my 50s. Then boom out of know where needed a heart bipass operation . Your comment about "not knowing what is around the corner" is so right
So glad this video popped up in my feed! Now subscribed! I am 45 and have started having conversations about retirement with my wife… we are plotting how this can happen as early as possible for many of the reasons discussed in this video! Thank you for sharing and I look forward to diving into more of your videos! Have a great weekend!
Very inspiring advice thank you. My sister died recently of bowel cancer aged 55. I've started living more in the moment as you never know what's round the corner unfortunately.
I worked my butt off from the age of 17. I paid off the mortgage and retired at 48. Now aged 70, I have experienced 22 years of real freedom. I have spent quality time with my son and two grandsons which would have been impossible if I had worked until 65. I realised early on in life, money cannot buy happiness and today's consumerism traps people into a spiral of personal debt. At the end of the day, whatever we accumulate during our lives cannot be taken with us when it is our time.
I'm mortgage free but can't bloody retire ...who pays the other bills
@@pauldeal68 same here, it’s all about being able to afford to retire early
@@pauldeal68I’m in the same position
100 percent
I'm in the same position, retired at 48.
I always think about my late father. Born in 1912 he started full time work at 13. He was injured in WWII (18 months in hospital) and when he came back his employer told him his job had gone to someone else, cut his wages and demoted him. He worked till 65 and got cancer within a year, died in two. All the poor bugger wanted was a nice garden to enjoy.
Governments don’t care about you. Employers don’t care about you. World events don’t care about you. Retire when you can.
🙏❤️
Yep, exactly. We weren’t put on this earth to spend our entire lives going to work in the dark and coming home in the dark. I know it is really hard financially,especially for younger people now but I truly believe that you should retire as early as you can if that’s what you want.
Yep as my responce..
Agree- similar story with my poor mother, she put all her very little wage jnto her kids- she never complained and did enjoy life over the years. She diagnosed with early onset dementia months before she retired. She got a 2-3 years but people already treated her differently after a year and then after that it was just more the disease than her she went into care full time and slowly disappeared :(
All she wanted was to walk the dog and do news paper crosswords
Absolutely, your employer wont be there to help you apply for disability after years of never taking a sick day. The government wont make it easy for life long tax payers to get the allowance they need in old age.
I retired last October at age 53 … worked 37years on the railway and now my health isn’t great … I now live a simple life with photography as my hobby … keep up the good work you do
Thanks for sharing Mick 👍🏻
Photography is one of the best elixirs in life - especially landscape photography.
Very informative and thought provoking….thank you!
What discipline on the railways did you work, I was OHL for 17 years. I enjoyed it, but I felt like Ben Hur towards the end chained to the Galley oars
@@paulbutterworthbillericay I went from working on the platforms too working in the gangs … then the last 22 years as a welder
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $875k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
☝️
Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Health is the most important thing in life. I remember this proverb. A man with good health can dream of doing anything, a man with bad health only dreams of getting better.
Retired last year at 57
I’d had enough of the NHS after 27 years. Travelling into London everyday, grinding
Sold the house in Essex and moved to Lincolnshire, love the place ❤
I’ve seen too many colleagues die before or immediately after retirement
I’m now very happy, I don’t have to worry about ANYTHING and have no debt, great friends and an awesome wife.
Gold plated public sector
@@pauldeal68 Ah, we've found the Daily Fail reader among us! And, as we all know, ALL public sector workers only work 2 days a week, and spend the rest of the week playing golf, while wearing bowler hats and quaffing champagne like it's going out of fashion.
Easy for medics on £100k+ a year to retire early!!
Who said they were a medic?
Ah, that is why the NHS collapsed - because you left at teatime on Friday 23rd October 2015! I knew it!
I retired at 45, 23 years ago. Spent 15 years living on the road (in Oz) and now homesteading in the bush. The best thing I ever did
You must have had a pretty good job to be able to retire in oz at 45. Likewise I lived in the bush (ultima vitcoria). But couldn't retire....still had to do abit of work and to be honest it was very quiet there.
@@ChrissyC2021 We did both have good jobs, also didn't waste money on eating out, new cars etc. But the biggy is no kids 😁
@GRAYnomad yeah kids are a huge sacrifice. Have you ever been Ultima/Lascelles/Swan Hill direction. Lived there for a few years. Nice people. Typical country folk but in general nice people.
@@GRAYnomadthe worst thing i ever did was wait till my 30s to have a kid, shuda done it in my 20s, lifed a good life but it all meant zero until id my son
That is not true, I only saw you last week working the door at Club Borrawommba!
Great video. I lost half my pension by retiring at 50. It’s definitely not about money and the time with my family and now grandchildren has been priceless. I will be 70 next year and will celebrate 20 years of being in complete control of my life.
☝️👊🏻
I retired at 55 and for the following 10 years I had the best hillwalking of my life both at home and abroad. I’m now 86 in reasonable health but incapable of doing the things I once did. But so happy I have the memories to look back on of taking advantage of my fit years to be able do what I wanted to do.
Thanks a lot for sharing with us a bolt step. I also want to be free from taking instructions from another person every day even when you see it's not worth.
Was written off at 50! Started training in crumbling garage lifting rocks doing pushups on paint cans pullups on beams got ripped af at 53 years old!!!
Just checked your channel garageman brutal training keep it up grandpa
Crazy training on your channel garageman subbed!
TRT?
Brilliant Eddy, I retired at 53 nearly nine years ago, as you explained the key is planning your £ . Like you I haven’t looked back , nobody lies on their death bed saying “ I wish I had worked another ten years “ . Thank you for posting. 😊
Cheers bud 👊🏻👍🏻
I'm 75 and still working, love it will die on the Job.
I know few workaholics who think about work every waking minute
@@duckman5642so in actual fact, on your death bed you might actually say you wished you'd worked another ten years. Proving the commenter above incorrect 😊
That thing you said about " dead bed " ha ha ha farking dead right ! So funny mate
This is a great video. Unfortunately for me I’ve gone through my life in the complete opposite way. One divorce and two failed long term relationships have seen me lose everything. I’ve grafted all my life as a carpenter but living beyond my means to keep others happy has finished me off financially. It’s taken me until 53 years of age to realise that less is sometimes more and financial worry is a killer, often literally.
I’ll likely never have a permanent home again and will be working for as long as my body will let me but I have some peace of mind at last and will do what I can to survive older age when it comes!
Stay well and healthy, thanks for the video.
Exactly the same, my friend!
Exactly the same for me.
Good luck mate 👍🏻
I feel bad for you. That is one thing I tell my kids all the time. Your partner you choose and your relationship are going to make you or break you. The most important decision you’ll ever make (or close to!)
Taken 2d cleaners by the devil! From then I decided I would never let put myself in that position again.
I'm 75 and still working as a road sweeper. It beats walking the streets.
😂
😂👌
I spend my time meditating - it beats sitting around doing nothing.@@willringwood8095
I thought a road sweeper has to walk the streets….. Go figure, right?
@@Lifesabitchthenyoudiegod damn that went over your head eh Clay?
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Fellow police officer here. Thanks for your service. I am currently in the investigations division, and I have 4 years and 9 months until I can retire with a 27-year pension. I could work longer and earn more money, but I'm going to cash my chips in while I still have them in my hand. Health and time become huge factors in that decision as you stated. I have always loved my career, but with media and society's lack of accountability, it has grown increasing more difficult to continue. Congratulations on fighting the good fight and living long enough to see your pension. I tell everyone that this is the type of career where you are one bad day away from losing everything you've worked so hard for, so congrats.
Thanks for sharing Dale 👊🏻👍🏻
I'm 55 and retirement is soonish for me too. Traveling all over the world isn't because I'm loaded. Like you, I live a simple life these days. When I was younger I had the big house and expensive car etc. With all that came added stress. As I got older, I downsized and focused on lifestyle more than material things. Good for you, Eddy.
Thanks for sharing Marcus 👊🏻☝️
Same here retired at 47 I'm 60 this year & I've never looked back, take on zero debt throughout your life & get that mortgage paid off as quick as poss, live a simplistic life & its doable, the great outdoors costs nowt👏👌👍
Well said Will 👍🏻☝️
100%
Take on Xero debt throughout your life and get that mortgage paid off did you really think that through before you sent the comment.youve been in debt for 25 years
@@stephencomer9276 most people don’t view a mortgage as a debt.
@stephencomer9276 I think what he was getting at was credit card debt, car finance, loans etc for material nonsense. A mortgage is a debt with a goal for stability long term and investment. It's quite simple really.
Retired at 42 and moved to Spain. Enjoining every day, blood pressure down to normal, headaches reduced to once or twice a year. Never missed work for a second.
How are you managing the post Brexit restrictions, are you finding it OK? Visa etc?
what are you living on?....
@@pujapete3665
I'm absolutely positive that he's living on food & liquids, just like everyone else 😋
Did you win lottery or early bitcoin investor??
Cool.
I left U.K. August 2021, sold up and invested everything, retired at 47.
Live in Cyprus at the moment.
Considering moving to Bali though in 2025 as you get more bang for your buck.
one common challenge is accurately estimating the required savings. With increasing life expectancies, individuals often underestimate the amount needed for a secure retirement.
That's true. In India, where the cost of living is rising, estimating retirement needs becomes more complex. Medical expenses, inflation, and maintaining a desired lifestyle all play crucial roles in the planning process. It's essential to account for these factors to avoid financial strain during retirement.
Recently retired in germany, I faced the challenge of ensuring my savings would last. The initial projections didn't consider unexpected health costs and inflation's impact on living expenses. Engaging a financial advisor was a game-changer; they helped reassess my retirement plan, ensuring a more robust financial strategy.
It sounds like consulting a financial advisor made a significant difference. I have seen alot around but i fail to know which to talk to for insights
Work with some who has lots of experience and serched in FINRA site.
Like NATHAN TRAVIS COOK
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
I think most people want to try out a financial advisor, but the amount of information on the internet is overwhelming. Could recommend any good one(s)?
Overwhelming indeed. Maybe check out Sharon Lynne Hart. She's got a contact website. She's excellent and I work with her currently. I worked with one Kelvin in the long past. You could look him up too.
I agree. Taking mini-retirements is the only way to not postpone your life into a future you are not assured of.
I retired at 51, never looked back, I volunteer for a couple of charities, because I enjoy it and benefit from the mental stimulation. I have more interests than time to enjoy them. However a friend of mine was in a career with a retirement age of 50, he loved the first 6 months of retirement, doing all those household jobs he had put off, then with very few interests, he sat and watched daytime TV, had a breakdown, heart attack, divorce etc. Everything went down hill. So my advice is always think about how you will fill your time, sitting around watching TV or UA-cam is not an option if you value your mental and physical health and if you are married, remember it's a massive change for your partner too.
Yeah for a lot of persons retiring can be a living hell specially if you don't have hobbies and close friends/family around with lot of free time like you...
I think that's spot on advice.
Yes - completely can relate to this. I had a 'practice run' taking 12 months leave to celebrate turning 50. Indeed the first 6 months were GOLD. Doing projects around the house that I never had time with F/T work, and just enjoying the FREEDOM and lack of accountability (OMG those winter mornings staying in your PJ's and doing the daily puzzles from the paper were amazing). But then after 6 months I was getting anxious about returning to work, seeking a different career, trying to find things to do around the place, and just ended up vegetating many weekdays and playing PC games....it really made me think if I would get bored doing this routine for the next 30 years....or at least waiting for my wife to catch up and retire herself.
So back to work now, sitting on the fence, wondering...when to retire and give up the job I really don't enjoy anymore.
Eddy, I am so happy to have found your channel. I am in a very similar position so your words really hit home. I am currently 52 years old, nearly 53. I served in the military for 25 years and am currently just over 9 years in as a police officer. I plan to drag it out till i am 55….depending on how many times i can stand being punched, verbally abused and spat on. I am literally clinging on. I have just bought myself a campervan in preparation for retirement and to start planning and getting used to it now…..ready for my next adventure. I am also enjoying it now and it allows me quality enjoyable stress free rest days. Thanks for letting me know it’s doable.
Thanks for sharing Jude. I feel your pain! I bought a campervan when I retired and had plans to travel. Keep me updated 👍🏻
I retired a little before my 55th birthday. I bought a narrowboat, great community, move between brief city centre stops to top up the shopping and off into the beautiful countryside. You will enjoy it.
How about a road trip from the UK through Europe and on to Asia in the campervan?? That would be an epic journey. With military and police training and skills the journey would compliment them.
Jude, dude. We bought ourselves a campervan too. It's brilliant. Big community of old farts out there doing the same thing. It's a complete blast.
I wish you all the best Jude 👍🏻😃
Enjoyed your video, the decisions you took remind me of my dad, i lost him in October 2023, he was a retired Police Officer, and retired at 51, he did 30yrs although his health was deteriorating. Like you he got rid of his car, and joined a walking club, always going to the lakes, best thing he did was retire, he had a good fullfiling retired life, kept himself active, and was 84 when he passed away. So proud of him, and i miss him every day.
Great video and that first point you make about the uncertain future in terms of your health and personal circumstances really resonated with me.
I don't want to get too morose but I'm 53 and in the last 6 years 4 friends have passed away. I'm not talking face book friends or work acquaintances, I'm talking 4 people I've been very close to - or had been very close to😔 more accurately now - for over 30 years. 3 died in their late 40's and the other just last year at 51.
All of them it was very fast. A heart attack, a grand mal seizure/ aneurysm and 2 who found out they had cancer when it eas already very advanced and both were gone inside 20 months.
The point of that depression tale is that I know all of them were making retirement plans for a future 5, 10, 15 years off that will never come.
It put me in a dark place but it also lit a fire under me and I brought forward my own retirement plans 5 years and stopped just 6 months ago now.
When I read comments on vlogs of people retired in Thailand etc and people in the comments are saying things like - "that's me in 8 years just counting down the days" I just find myself shaking my head.
People talk about the future like its a certainty, you're guaranteed your 4 score years and 10 at the very least in this day and age. Hopefully you will and much more - but nothing is a given beyond right now.
Obviously rushing into retirement with no financial planning or idea about how and where you'll live would be foolish don't get me wrong.
But equally I think its important to really keep focused on the now and if you want to retire ( and of course some people absolutely love what they do and don't which is totally fine) try to figure out what you NEED to achieve that as opposed to erecting unnecessary barriers.
Just my 2 cents.
Great video - I couldn't agree more - I had a very similar set of thoughts about time versus money and managed to retire at 47 (I'm now 56) and like you keep myself busy with my "side hustle" which again like you is a UA-cam channel. I don't regret it for one moment, in the time since I strated doing the stuff I like doing (rather than having to do) I have lost two similar aged friends as me to cancer, and have another pal just diagnosed - you never know what's around the corner....enjoy life as soon as you can is my advice! Best of luck to you and thanks for posting this video...
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Working in a cemetery two things are always upsetting, firstly burying children and secondly burying folks on the verge of retirement in their mid 60s ⚰
That's life, people are on average living longer.
Worked with a fella who was coming up to retirement. A real nice guy who would help anyone with anything. He told me he was looking forward to the day he retired. The Poor sod fell down the stairs at home and hit his head. Not wanting to bother the ambulance service he phoned his ex-wife instead, but she didn't answer. He passed out soon after and died alone in his living room. You never know what is in store for you in this life.
@@wingnut71 Sad story, he was just unlucky.
Listen to the government….everyone is living longer!! If you say it enough times people will just believe it!!!
@@darrenedwards6538 Yeah, do you also ignore people that claim the earth is round?
The UA-cam algorithm has worked. perfectly. This video randomly came up on my feed. OMG. if ever there was a perfect time for me to watch this video, it's now! I too am 57, have worked for the ambulance service for 20 years, amongst a other things and too many times in my job I have seen couples in tears as we are rushing patients into ED with various ailments telling me, they have worked hard all their lives, only to be dealt with a sudden unexpected event, such as heart attack, or stroke. I have witnessed this too many times & like you I firmly believe we only have one chance at life. Let's live it. Absolutely fantastic, genuinely thought provoking video - I too have a YT channel, and I love to travel, vlog, hike, bike, camp, van life blah blah, and this video has inspired me to do even more of it. Thank you so much. I cannot fully retire, but am going part time very soon, as I just cannot work nightshifts anymore. they kill me. And if ever I needed encouragement I am doing the right thing, this video has been it. Thanks again Eddy. Just subbed. Adam 💪
It worked for me also Adam
I've now subscribed to your channel 😊
worked for me too. Just turned 50 and perfect timing for a bit of educated perspective
Me too. I had to take ill health retirement last year aged 52, my whole life perspective changed to now looking at having good next 20 yrs and spending my time wisely. Likewise it’s now more to do with experiences rather than things for me, my wife and youngs son (and dog).
I was laid off and retired 2 days before my 49th birthday, it’s one of the best things that has happened to me in a long time and now enjoying life
What u living on ....gold plated public sector probably
I'm 57, 58 this year. I'm retiring in march next year. You're so right with your comments. 2 health scares have made me make my decision. Great video.
Really pleased for you Eddy. And, great video.
I took a "Special Early Retirement" last year at 57. It was the best decision I have made! I'd been off work due to depression/anxiety and bereavement. i.e. cared for my Dad in his last 7 months of life. Then my sister took her own life. Wirk had a discussion with me and I agreed a separation.
You realise that life is too short to waste, especially after bereavements.
I've convinced my wife to retire later this year. She's just had a health scare so she's now 100% convinced!
Time and health have to come first.
Thanks for sharing Phil ☝️👊🏻
I retired at 50 too. To wake up every morning not having to worry about work at the rat race is priceless 😊
I would love to look at your financial statement. I wonder what your net worth is; do you own a house? What are your monthly bills and expenses, as well as your investments? Most people hide their financials for various reasons, such as fearing robbery. I partially understand this, as those nearby might become jealous and try to make our lives harder. However, I believe it is easier to share our finances with strangers; some people do. There is a guy on UA-cam, IsainvestorUK, who shows his investment portfolio and provides updates online. Additionally, there is a girl in London named Marta Lis who shares her ISA and other accounts, and she is financially free. So many people showing their life free of work,but they don't mention one very important aspect: finances. I might do my channel one day too.
Well done Mr smug 😂
Do you live in the west? do you rent or own? what city?
Just retired at 56! Huge relief from the stress I was facing. As a very wise old man told me in my early 20’s …., “Life is not a rehearsal son”. No truer words said 👍
@@GlobRes no I retired without hitting my financial goal. I’ve just cut my cloth accordingly.
Got 3 weeks left of my 8 weeks notice at 56 going to retire. I have so many things I want to do whilst my health is still good. I've declutteted & started growing my own food a few years ago. I'm so excited about my next adventure of living. I'm not materialist so that's a big win as far as I'm concerned. It's about the quality of life from here on in.
Send me a few tips on how to grow fish chips and mushy peas
Troll....jealous troll@@stephencomer9276
@@stephencomer9276 1st one goes in the water, last 2 go in the ground 😉
@@stephencomer9276 😂
Good luck for the future.
68 and retired but still work 2 days a week doing deep cleans on ambulances....don't need the cash but it's a reason to get up in the morning, socialise and keep active...live near the Lake District with plenty of opportunities to get out and about, weather permitting.
Sounds like a good plan.
maddox wilder holt is a serving trustee and expect in this field, you can just search for the name and book an appointment
Eddy, your video has seriously resonated with me. I’m now 55 and cannot get the thought of retirement ASAP out of my head. To do so isn’t going to mean I can live an extravagant life, quite the opposite. The money isn’t the motivating factor for me, it’s the chance to spend my remaining years the way I want to without being a slave to someone else’s rhythm. I’m about to embark on a similar UA-cam journey myself and it’s refreshing to see your video.
👊🏻👍🏻☝️
Less is more 😊
Nice to find someone with the right attitude towards the world. I'm 55 and semi retired four months ago. Work 3 days a week now at the same job that I did full time. It's a bit of a transition but I'm getting my head around having this freedom time. People are conditioned to think that they need this, they need that, and they work to try and get some false happiness from what they've been told they need. Once that realisation hits, that you don't need all this cobblers to be happy, it's a game changer.
You got yourself a new sub Squire !
Welcome aboard bud 👊🏻👍🏻
You're dead right about needing a purpose. I retired 4 years go at 56, after 2 years I could feel myself deteriorating. Got a part time job and immediately felt like I had a purpose again, only importantly with no stress attached. Now loving retirement.
Excellent stuff mate 👍🏻
But you are not retired if you are working
Retired from a full-time job..........
@@AlanBrownPhotography Yes, agreed. That’s NOT retired from working.
Not technically retired, but I’m sure it feels like retirement as the part time job is probably more like a hobby/interest than a stressful job. I am in the same boat as I retired a couple of years ago from my career and a few months later started casual work. I still feel retired as I have completed control over the frequency and amount of work I do. The financial reward is also not the reason for working as it is more about fulfilment.
I became semi retired at 55. I now do part time food delivery on a 125 scooter.
I happen to have paid off my mortgage at that time, kids grown and left home, so we needed less money.
I love riding the scooter and feel healthier then when I was 40.
Still have a small car, diesel smart car, cheap to run, we often visit the forest with our dog Max and generally walk a lot.
Don't smoke, don't drink and not interested in spending £5 on a coffee, love picnics with my wife and dog.
You've discovered that less is more!
As my GP said to me when I walked in the surgery feeling totally burned out from working 7 days a week running my business and feeling responsible for all the staff, I recall his words ‘Martin something has to change, and now, please understand that your health is your greatest wealth’ that was my moment of realisation. I’ve now transitioned the business into an employee owned business and gradually letting the staff take the reigns. I’m not retired yet but slowing down and doing less days
Great video (and a beautiful location). I'm hoping to retire next year at 49... teacher, so not rich either, but I am living in Vietnam, which is considerably cheaper than the UK! And thank you for your service in both the military and the police force.
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Semi retired at 45
I work 2, 3 days a week .6 hrs a day ... I have a fantastic balance ,,, 52 now ?
I looked at my older friends in the pub aged 64 ,66, and thought Na, they are all dead now , Chris my friend worked until 66 died 67 he retired 6 months , Alex he died before retirement, Eddie he died before retirement. I miss our conversations , j stopped going to the local pub because my table was full of empty seats. ,
I now live off grid ..building my own cabin , chop logs , walk daily , my body for a 52 year old , gets compliments from men half my age ,, i look good , i feel good ,
Hi there, it's amazing but your video just arrived into my feed at just the right time. As a nurse who will be 56 in May, I had intended to remain until at least 60 year of age. However, owing to all of the changes and introduction of metrics, performance indicators, tools, audits, more and more obligatory education courses, and a whole host of other bureaucratic additions to a days work, I am beginning to feel stressed during every shift. It is no longer enough to just be kind, efficient and attentive to my patient's needs, this has little value when measured using the business speak and measurement tools that have now permeated the health sector. I too am now considering calling it day after 28 years. I am encouraged by your story and wish you much good health in your retirement.
Thank you for sharing ☝️
Retired at 51 and it is fantastic. I'm now mid 50s and seeing peers dying of heart issues and cancer. Get out while you can. If you can get your mortgage cleared, it's quite easy to budget and live a reasonable life.
Now seeing peers dying of heart issues & cancer, yep thanks to that life saving Jibjab👍
@@willringwood8095 Just about to say exactly the same thing - so glad I decided not to take them.
@@willringwood8095 Ah, but don't forget just how safe and effective it was!
Pubic sector employee on a final salary pension?
Avoid the needles.
Done this at 45 . I’m soooo happy . It’s the best feeling ever . Would not change a thing . Great video Eddie . Long my you enjoy your life
Fantastic! The UA-cam algorithm has served me well in finding you, Eddy. I thoroughly enjoyed your video and quickly subscribed. I retired at fifty with very little education, so I have been addressing that part-time, and in the summer, I like bike-packing around the UK with friends. Fresh air and movement are the best anti-depressants available.
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I retired just Christmas 2023 , at age 57 and I honestly think it's the best thing I ever did. I was a painter and decorator for Greenwich council and I had got to the point where I dreaded every Monday morning. I spend my time now doing what I want and not what someone else is telling me to do 😊
I quit my NHS role at 55. Currently living a leaner life for sure, but as I no longer got any joy from my work it was time to go. I now have fun painting and drawing and volunteer at a local aviation museum. Life has so much more meaning and if I get a day when I don’t want to do anything I don’t have to. While in the NHS, I saw far too many good people who had worked all there days in expectation of enjoying a long and happy retirement only to be told their cancer was terminal. Life’s too short so grab life while you can.
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I'm 72 and still "work" but I believe in the contribution I make to the world and do not want to stop.
70+ and still working. Poor pension arrangements and a disrupted career have limited my retirement choices. Must be nice to work in the union backed state sector and having those risking the choppy waters in the private sector pay for indexed salaries, guaranteed pensions and early retirement etc. But like yourself, the pros generally outweigh the cons most days and I have a good sense of self worth. Best of all is not having to evaluate every minor expense.
I've heard some excuses for poor planning but that's a corker lol
I could retire at 40 but still working - on my own terms. It a structure with I personally enjoy
@@enigma7791
Yes, it does sound like a cope. Fair enough if people love working, but, some people say stuff like this because they’re too scared to make changes.
People will do more to avoid pain than they will to gain pleasure.
Watching this in Thailand! Aged 68 and retired at 66 . Sod staying in the cold UK and paying heating bills I'm spending 4 months out here every winter!!! I'm single with no responsibilities so why not?
Hi eddy. Inspiring video,looking at retiring at 60 am 58 now. Reason being my dad died at 59 and was planning to work till 65. He made a load of plans and they all came to nothing so i said to myself at the time (i was 24 when he passed) that i would be retiring early and now 33 years later im ready and i think financially secure enough to do just that.kind regards.
Hey Eddy, your video popped up in my feed and I soon noticed that you’re a local lad. I’m just down the road in. Teesside. Just subscribed! I’m 48 and although I have no intention of retiring yet I do run my own online business that allows me to live / work from anywhere and it’s super flexible so I’m not tied to working any specific days / weeks. Most of the business is programmed to run itself. When I work I’m essentially working on creating new projects that in turn will bring in money. So I do feel blessed and I love what I do. I rented my house out last year and have already spent 5 weeks in Bali, 3 weeks in Thailand and 3 weeks in India this last few months. Heading to Australia, Bali and Vietnam in a few months from now, with a couple of European trips in the meantime. Life is 100% for living and keeping your overheads and outgoings low is key so I completely agree with that. Consumerism prevents many people from retiring early or travelling. Keep up the good work!
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Hi, 17 yrs military, 21 years cop, myself. Not an easy life. Retired at 58 yrs . Absolutely love it. Please introduce your dogs as people like me want to hear about them. How you interact. Liked the video. See , feel the past pains. Hopefully they do fade with time.
Will do, thank you Gary 👊🏻☝️
Talk about things being meant to be!! coming up to 25 years in May working at Nissan, been looking at getting out at 55 in 3 years time. to be fair I don't really know why I'm staying, love the lads i work with and the patter is mental but the Nissan pension has been shafted over the years, just feel I'm hanging on now just to get something back off them. Just casually watching UA-cam and came across this channel haha was just walking that path last Sunday with my wife.
My health forced me into early retirement and now I try to cope as much as possible living with a terminal illness which isn't easy on your own. I get out as much as I can and try to enjoy life but being in pain every day makes that difficult at times. Now I'm losing my sight as well my mental health has become a burden too. Saying all that I try to always have hope and even though I have nobody in the world my 2 cats provide me with a reason to get up and try every day and without them well I wouldn't be writing this comment. Excellent video as always Eddy when are you coming to explore the wonders of dartmoor?
Sorry to hear about your difficulties and well done for fighting back.
I’d love to get down to Dartmoor this year 👍🏻
@@Eddy-HopeThanks Eddy your videos are an inspiration and a comfort to me so keep up the good work. My father died when he was 53 and I've got a heart condition like he had so I take just one day at a time I don't look forward too much as I know with my health it can all disappear just like you said. Anyway time to get my shoes on and do some steps even though its chucking it down with rain. Thanks again Eddy.
@@OrijinaruBTC 👊🏻
You will NEVER be alone with Jesus as your saviour.
Stay strong, you are never alone. Sending you positive energy and love from Yorkshire. Enjoy your weekend. Remember your a warrior 💪🏻😃🤗
Hi Eddie
I just stumbled across your channel 😊 excellent tips.
I retired last year at 53 . I had planned my retirement for many years, hoping to go at 50. I was in sales since 24 and on commission only, so I had the fortunate role to work when I chose.
I started investing in the stock market 30 years ago and live off dividends paid mainly through isas.
My key tips would be
Retire debt free
Have a structure or hobby.
Accept that winter is more challenging 😊 mentally..
Make sure you have a good income coming in.
And look after yourself mentally and physically 👍
Great advice, we waste time chasing after possessions too much, your health and time are the two most important things in life. Take a step back be greatful for what you have and as you say appreciate the simple things you probably didn't have time to notice before.
I retire next week aged 54. Having been in the army from the age of 16 then into the police. Your film has given me some key points to consider moving forwards. Thank you mate.
I totally relate to this. I worked hard and retired last year at 55. I could have carried on working but I didn't like what I did (on a laptop with conference calls all hours) and I was time poor. I love now being time rich and able to do the things I want, when I want. I enjoy cycling / walking and really looking forward to the better weather when I can get out more. My top tip to early retirement would be to live within your means and not take on too much debt. I've never owned a new car and live in a modest house, but I'm OK with that. Each to their own I guess.
Great message Steve 👍🏻
Agree 100%. I planned my retirement for 53 (retired 10 years), my dad died and 53 so I decided that was it for me. I took up motorcycling and love it
I also think like you do, my father passed away at 56 and i'm now 58/59 in June. I keep hinting to my wife that i've pretty much had it with the working world but to no avail lol! Planned is to retire early at age 63 but i'm starting to have my doubts. We have no mortgage and have money saved. The only real worry I have is with medical insurance and how that would play out. We live in Germany.
Retired at 55 during covid ...still not convinced i have done the right thing having too much time on my hands sometimes does my head in especially during the winter and not having a regular decent income tendy to have me worrying about cash flow 🙂. I have a little part time job as the lack of contact and the social aspect of working full time is taking some getting used to. An interesting point you missed when retiring is you can pretty much become a leper to most old workmates when you leave i have basic contact with 3 people out of dozens i worked with and social events or just being invited out with the lads is few and far between. I actually needed a little job be socially keep active as it was getting me down m8t. Don't want to sound negative as many point you raise especially time and health are spot on !
Firstly, love the scenery. I walk that path at Shields loads. Secondly, I’m semi retired at 55 and loving it. Only working 14 hours a week and taken my pension I earned over 39 years work. No one ever said on their death bed “I wish I’d worked longer”.
How refreshing Eddy! You just popped up on my feed 😁🙏 Am 58 and have just given notice and leaving work end of April. I am taking my pension two years early and am good with what I will be getting. Stuff doesn’t mean much to me these days. I just want to dump that feeling that I have to work. I don’t! Good on you and thanks for the affirmation 🎉🎉
Glad you found it useful Gina and thanks for sharing
Life balance is so important and it’s too easy to get sucked into the system, like ‘keeping up with the Jones’. Time and health are the most valuable things because without them we all have nothing! Get out there and do it, whilst we can - that’s my mantra!! Great video Eddy 👍
Well said ☝️
“We buy stuff we don’t need with money we don’t have to impress people we don’t like”.
The vast majority of people in the U.K. live their lives this way.
Retired at 55 after 35 years running very busy central London tube stations round the clock shifts..I knew it was killing me so I retired early.even though the car had to go and the wife buggered off three years in, I replaced them with a Honda 750 and a French bulldog..retired almost 8 years now and have not regretted a single day.time is all any of us have and none of us know how much we have left we wasn't put on this earth to work your life away and die.the question is not why retire early..the real question is why on earth wouldn't you.all the best.
One driving factor is whether you have a gold plated public sector pension , for most of us private sector workers on crap pay with hardly any spare money to throw at pensions or paying off the mortgage early is a pipe dream for 60% of the population.
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Most of my working life was private sector but early retirement happened by following the exact same rules. Always being sensible with money, only buying what can be genuinely afforded etc. It can be done if one has the right attitude.
Police officers contribute a substantial portion of their monthly pittance of a wage toward their pension. I should know, I had to withdraw from paying pension contributions when I was a you police officer as my wage was so low. Private sector workers seem to forget this aspect. It is not all sunshine and roses being a cop, believe me. A lot of my ex-colleagues died just before or just after retirement. Heartbreaking.
@@kevinwall795the real issue is not that public sector pensions are too generous. Its that private sector pensions have been cut back to levels that are inadequate. I work in the pensions industry and get a bit irritated by people trying to cut public sector pensions. It’s the private sector employer pension contributions that need to improve to a sensible level. It’s a ticking time bomb that the government don’t seem to care about.
@@davidwhiteman4649 Good point. I joined one of the big accountancy firms in the 90s and I was the first or second year intake without the DB pension. In effect we were getting paid about 20% less for doing exactly the same job as we got a 5% employer contribution while the DB contribution was about 25%. And that was the level that is needed for employees to have a decent pension. 5% is an absolute joke. We should have had a higher salary to allow us to take on the responsibility ourselves. But no. The extra money was simply grabbed by the partners of the firm.
Thank you for sharing, your insights were thought provoking and helpful.
Thank you so much Andrew 🙏👊🏻
Thanks Eddy. I've just turned 45 and in the last yr had a significant health scare. I've been seriously considering my future and you've highlighted a few points that resonate with me, namely no kids, cars, or big mortgage. I live within my means but don't struggle with it. I do enjoy my job but it can be physically demanding and I really don't see myself 10/15yrs from now doing the same thing. Might now look into what I could do to reduce working hours or even retire.
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I retired in 2016 at age 61. I approached my decision to retire the same way I had approached my decision to have children many years ago. That is "if you wait until you can afford it, you'll never do it!" I sat down at age 60 and made a plan and figured it out. Best thing I ever did.
Eddy you are spot on. Iv got the same mind set as you and have for a good few years now. Iv always cut my cloth to suit and im more than happy with the simple things in life and never take them for granted either!!!. I have a small terraced house very nearly paid off and have never wanted or needed to upgrade. I drive a 22year old small car and I’m more than happy with my lot. I’m planning on retiring in the next couple of years and doing exactly what you’re doing.👍 life is too short. Thanks for the video and I wish you well mate.👍
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Just subbed. Thanks Eddy. I retired at 55. I went back to work last year. I worked for 6 months so as I cud get myself a few quid just to top up my small works pension.
I’ve no mortgage which is a big bonus.
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Retired at 47 in 2014! A former CFO/CPA/MS with a Global 50. Bought a house outright in Baja, Mexico, 50 miles south of San Diego, CA. I have 0 debt and sufficient savings to tide me over until I am able to draw SS at 62. My fixed monthly expenses are under 500 dlls and maintain a minimalist lifestyle. I also started a business to supplement my income and also to stay busy. I love my freedom and independence!!
I retired at age 52 and have not looked back. For the first year or so, I found myself telling people I used to be a teacher and tended to live in my past life. But one day I woke up and realized I needed a new or current identity. Once I came to that realization, my perspective changed completely. I wake up each day eager to learn new things or just take long naps. It doesn't really matter. I'm four years into retirment now and life is the best it's ever been!
Hi Eddy. I kind of held on until I was basically forced out at 67. That said, it was the best thing that could have happened to me. I would suggest anyone considering retirement take a look at all their expenses over time and work out a base level for that period. Compare that to expected income (pensions etc) and you'll have a better idea of where you stand. If appropriate, a financial advisor can provide a wealth of insight.
Of course you need to 'cut your cloth' or at least be acutely aware of expenditures during retirement. It's a scary process at first as you lose the safety net of a consistent income. It helps to decide what you feel is important to you in life, that will drive the decision process.
Nowadays I fill my time with my hobby (photography) and like you enjoy getting outside in nature, whether that be in the garden or hiking/taking pictures. I find THE best thing about being retired is that you can do what you want, when you want.
Now if I could only persuade my wife to retire early and join me........
Enjoy this so much . Down to earth advice . I’m a born n bred Londoner hoping to move to cleethorpes on a pension of £25000 a year and small mortgage of about £250 a month in 2 years , I will be 58 . Recently got into my fitness 2 years ago and looking forward to a better pace of life . I currently work as a train driver on London Underground . I rent in London at moment but have small house I invested in to retire to . Love to see more of these videos and could do with all information I can get . …… I turned my life around 8 years ago after losses and addiction so all looking bright I hope .
Thanks for a great video mate . 🎉
Thanks for sharing ☝️👊🏻
I remember being told about a person I didn’t know personally but this person was working all through life and came to retire at 65. On the same day that person retired and had a bit of a social drink with work to bid farewell sadly passed away that evening of a heart attack or related incident. Just shows you can’t plan for that imaginary future as who knows what’s going to happen
Exactly ☝️
Wise words and great suggestions. Retired at 57 now 59, almost adjusted only issue I face is an inconsistent sense of purpose. Good days and bad days but over time more good than bad. Mental and physical strength seem to be my personal need as time goes on, that’s what I focus upon. Reject the negative and focus on the positive aspects.
You so resonate my thinking, I turned 60 last year just got made redundant, myself and partner, we're currently giving reselling a try, loving the idea of not wasting what we have on the ground, time to look after elderly parent, horses and dog, working full time left me on auto-pilot, you can't continue on it, cut your cloth accordingly are very wise words.
Thank you and thanks for sharing Christine
Thanks for your candid advice and insight into how and why you retired 👏. I’m 61 and in a quandary about what to do since I lost my job last April. I’m working on it and totally agree that health is your wealth. Good on you 👍🏻
Do it 👍🏻
Lost my job at 54, and I got ill very soon after. Mobility is limited, and they want to do nerve block injections before eventually operating. I'm nearly 56 and on a waiting list for injections. I'll likely be in my 60s before I can properly walk again. I'm likely never going to work again. But I'm happy with life, small financial stress that's insignificant compared to the stress of my work life. Like you, I have a UA-cam channel about my passion, and I'm enjoying learning new skills with that. As Bob Marley said, "possessions make you rich? My richness is life" ❤
According to Messers Jeremy Hunt, you are classified as peak health and thus can work, long and hard for our Nation.
@@jaydunstan1618 Yep, just like people working until aged 70 to keep paying the taxes for maximum time before their demise.
@@gbeeshrimp You are being very selfish...according to Sueella Braverman EXPRESS.
@@jaydunstan1618 Oh well, I've been called worse
Great quote, “if you’re not earning money, you’re spending money.” People need to think about their futures now as time creeps up very quickly.
Cheers Richie 👍🏻
If this is how you think, you will be making a mistake retiring -- ever.
If money is not earned to be spent then what's it's purpose ? Enjoy trying to attach pockets to your shroud.
Great video, thanks Eddy, very inspiring, I'm 53, would love to retire from corporate and so am building a UA-cam channel and side hustle to make that happen, so I can have more time to do what I love, exploring the world.
Sounds like a great plan Linda. Good luck 🤞🏻
Good Video Eddy. Just came across you today.
Being in control of your time on your own terms is the best thing you can possibly work towards.
I work and run a side-project to help me towards that gaol.
I'm 57 and cant afford to retire but found a job that pays me enough to survive on 15 hours per week. People find it odd that i don't work full time. It really seems to bother them.
It’s jealousy and I’m glad you’re able to work so little …… you can still enjoy life 🙌🏻
57 is actually not that strange an age to be retired. Lot's of teachers, police, firefighters and other public workers with pensions retire at 55 even 50.
Working full-time is like being in shackles. It’s truly awful. Literally little/no time to do anything outside of work, which over many years wears you down (both physically and emotionally).
Dude that's awesome. My plan is semi retirement just like you. Don't quit all together but go part time.
@@ariefraiser140Yeah if you suck the government tit. Independents like me they expect us to work till 70 while they tax us so they can retire early with different insurance etc.Thank the Dems for this abortion
This is a great channel. I really would like you to focus on the financial side, because almost all of the retire early channels out there involved moving away Thailand, Bali, Portugal etc. It would be good to understand how you do it while still staying in a relatively costly country such as UK.
I semi retired at 50 , chosing to work in a care home for 20 hours a week on mimimum wage. It was the best decision ever . When you see people having worked all their lives end up in poor health and having to give up the family home to pay for care ,it puts life into perspective. Do what ever it takes to give up full time work. Don't take expensive holidays,give up the car ,live in the smallest house/caravan ,eat proper food live simply. You will not regret it. But like anything worth doing it takes courage and effort.
I retired at 53. I’m now 57 & it was the best thing I’ve ever done. Had a few health issues, but they were relatively minor. The freedom that retirement brings is truly addictive. Life is short, so enjoy yourself.
Cracking video, I done the same aged 49 after 32years in jobs that I found no personal satisfaction, like you say it takes people to think of what is the most important things in life to them.The only other advice I would offer is that before anyone retires, make sure you don't owe anything to anyone! Retire dept free and what you have will go further.
Great advice Dave 👍🏻
Class video eddy. Fellow Geordie. Love the accent. Thank god you got out of police, I got out NHS and wouldn’t go back for the treble the wage. My values and empathy did not align to a lot of the crap I was witnessing from 2020 onwards. Mortgage free at 44 and along with side hustles I am now embarking on a journey like you. Well done 🎉
Great message thank you for sharing Nicola
I have no idea why this video dropped into my feed, but UA-cam algorithm must be pretty clever.
Your video reaffirms my thinking of the last few years, where I've been fortunate to be able to overpay the mortgage, with the view to clearing it this year. Similarly to you, I want to be time-rich!
When I left school at 16, I got a job straight away, worked hard, got promoted and I always paid into a pension (my Dad told me too), paid in extra when I could, and also paid into an ISA when I had the money. I had a very stressful job, and it all came to a head when I was 47. Me and my partner sat down and went through all our finances and said that I could leave work. Went in the next day and handed in my notice and walked out. Now I am 55 and just started to take my pensions, and moved money so that I can take a salary. I was the best thing I ever did, and have never looked back. It was scary at first as I was earning around 42k, but as others have said money really isn't everything.
Great message Mark thank you ☝️👊🏻
5:34 Your point about “how do you measure success” .. wow .. That’s a good point ! Deserves a great deal of thought
Eddy! I totally agree with everything you say 100%. I’m 56 now and I’m done with poxy work, my mind set is identical to yours my friend, enjoy!!!
👊🏻👍🏻
Hi Eddy, no idea why this came up on my YT wall, other than my mind being read...but I'm glad it did.
You've mentioned all the things I've been thinking about this past year & at a similar age to yourself.
I completely agree with you needing a purpose to retire to & I think not doing is a mistake made by many. I'm fortunate to have loved my self employed work, it's been my passion, yet now I'm ready to trade it in for total freedom in retirement.
My only drawback being my driving purpose is to travel many countries overseas & at this current time, I'm unable to do so, due to responsibilities & love of my two best friends...my elderly dogs. Although they're healthy, they're too old to go to the hot weather countries I want to travel & the legistics would be extremely difficult.
For the time being I'm enjoying my dogs, getting out & about as you do, while still working a little. I do feel in limbo, because I know what I'd be doing & where, if I was able to.
For the time being I love my dogs & they love me, so their time & happiness comes first.
A single man & his best friends.
I've subscribed & I'll look forward to watching more from you & the lovely area you live.
I know it quite well 😊
P.s I've also recently given up on driving/owning a car after never being without since 17yrs of age. The rising cost of insurance, plus costs to run a car etc has brought me to the decision. Being able to take my dogs with me on public transport has made the transition doable.
All the very best to you & your best friends 😊
Spot on - cars are a big financial drain, and we become hostage to them.
Definitely ☝️
So are mortgages especially when you consider interest actually doubles the price you paid.
Cars, mortgages, credit, food 🤷🏼♀️🥺is crippling so many. Poverty stricken Britain 🇬🇧 such a sad state 🤦🏼♀️ it’s scary; I worry for my young grandchildren, i mean what is life going to be like for them? I dread to imagine to be honest. And homelessness is rife right now!
Just something else to stress about. Cars are a money pit!
@@throughtheeyesofachild61_45 they need to leave mine will I'm sure
Eddy, this is probably the best example of retiring early scenarios I have watched. It covers all the possibilities. I am 59 now and retired at 55 and without doubt it is the best decision I ever made. All external worries have gone and I really couldn’t be happier. Enjoy your retirement.
I've been retired 4 years now I'm nearly 60
Just keep things simple, i got myself a allotment and have never looked back me and the wife love the allotment, retirement and a couple of afternoons in the pub
Hello and thank you for this encouraging video. While your video was not the catalyst for my own situation, I agree with many of the points you made supporting early retirement. I turned 50 in January and I retire next week (end of April). I plan on prioritizing many of the same things you outlined in this video. Spend more time with family/friends, take more time to exercise and be healthy, and pursue my hobbies (photography/drums/travel). People keep asking me what am I going to do once I am retired. I tell them I’m going to enjoy life and try to minimize stress. I hope you continue to enjoy a healthy and happy retirement. Thanks again.
☝️👊🏻👍🏻
My Gran used to say you had to ‘Cut your shirt to suit your cloth.’ I worked as a paramedic and was diagnosed at 52 with dyslexia I was forced into an office job following a physical injury and I too am clinging on for dear life. I’m 53 now with 15 months until I’m 55, I’m hoping I can hang on in the job until then. Thanks for sharing your story.👍
I feel your pain mate
@@Eddy-Hopefurther update: I have now been clinically diagnosed was having ASD and highly likely ADHD. Less than a year to go now in work and my diagnosis will be a challenge my employer to actually provide some support. Things make more sense now, so hopefully with some reasonable adjustments I’ll make it through to retirement.👍
Morning Eddie coming up to 30 years in teaching. 55 this summer. Bumbbling through life tryijng to crawl through work in my 50s. Then boom out of know where needed a heart bipass operation . Your comment about "not knowing what is around the corner" is so right
So glad this video popped up in my feed! Now subscribed! I am 45 and have started having conversations about retirement with my wife… we are plotting how this can happen as early as possible for many of the reasons discussed in this video! Thank you for sharing and I look forward to diving into more of your videos! Have a great weekend!
Very inspiring advice thank you. My sister died recently of bowel cancer aged 55. I've started living more in the moment as you never know what's round the corner unfortunately.
Great advice and I’m sorry to hear about your sister 😔
Video really resonated with my own situation......thanks for creating and posting, useful resource for me to refer to when needed.