The Retirement Newsletter: Six months to go
Issue Number: -26 — It’s beginning to feel real
Welcome
Welcome to issue -26 — six months until I retire, and for some reason, my retirement date now seems very close. Scary.
Only 26 weeks, half a year, six months, until I retire. It doesn’t seem possible.
Six months to go!
What does this mean?
Well, six months is nothing. Six more pay cheques (paychecks). And then what? No more pay cheques. No more salary. Yes, money will still go into my bank account, but nowhere near as much as what I currently get.
The lack of a monthly pay cheque (paycheck) has been worrying me. So, I spoke to some of my recently retired friends to see what they experienced.
Two friends said the first month with no paycheque was a shock. One admitted to a feeling of panic when they saw their bank account had not been ‘topped up’ at the end of the month. Both said they had now become used to the idea and that it was not a worry. As they both said — I still get paid; it’s just in a different way.
My third friend said that they had arranged their pension so that they still got a monthly pay cheque. To them, it was no different, just less money.
I have also realised I still have much to do these last six months. There are several big, important projects that I need to wrap up at work. If I am to leave on the planned date in three months, I need to give my notice.
For my retirement, in the next six months, I need to:
Meet with someone from Pension Wise (Pension Wise is a free service of the UK government that advises on pensions) to discuss my pension options
Get a new pension quote from my pension company — I can only do three months from my planned retirement date
Find and meet with a financial advisor to work out the best way to use my pension savings
The timing on all this is a bit tricky.
I can’t make the final decision to retire until I get an official pension quote from my pension company. I then need to meet with a financial advisor and decide if retirement is workable. Finally, I have to hand in my notice.
To balance all this out, I have a plan (or course I do), well, a timeline:
Ask for the pension quote at the start of October, assuming a start of January retirement date
In October, meet with Pension Wise and a financial advisor
Start of November, hand in my notice
February — retire
It looks like the next few months will be busy.
Planning — boating
When I was a kid, I spent a lot of time in and on the local river. I spent my time fishing, swimming, canoeing, kayaking, sailing, rowing, and occasionally motorboating on the river. I even worked a few summers for a local boat-hiring company. I enjoyed the work as I spent the day by the river, mucking around with boats — a good combination.
As a kid, one of my ambitions/dreams was to go on boating holidays on the rivers in the UK. And so far, I have not realised that dream.
They say that retirement is an opportunity to realise your dreams. And I wrote about some of my dreams for retirement back in issue -121 — What am I going to do once I retire? — and these were:
The ski plan — travel Europe and ski. This plan is now pretty much dead, thanks to Brexit and my dodgy knees.
The travel plan — I still like this plan, but COVID-19 has put me off. Guess I may have to stick to the UK.
The Europe plan — Brexit has squashed this plan. Travelling in Europe for extended periods has become more difficult.
The UK camper van plan — This one is still alive, and I am still looking at camper vans. I have also visited a large camper van exhibition. It might happen if I can find the right vehicle.
The narrowboat plan — This one is still my favourite. Whether I would be ‘live aboard’ or an occasional holiday, I am still undecided.
Anyway, in preparation for “the narrowboat plan”, I am doing an RYA Helmsman’s Course. The course lasts for two days, and it should be interesting. I wonder how much of the boating courses I did as a kid I will remember.
I will let you know how it goes next week.
Travel — Nostalgia Corner
This week, I continue reminiscing about my trip to Mandalay in Myanmar (Burma):
Myanmar (Burma) — Hotel Mandalay, №652,78th Road, Between 37th and 38th Street (HayMaMarLar Taung Qtr), Mandalay, Mandalay Region, Myanmar (Burma) — an interesting place with good food, tinned butter and dodgy electrics
Myanmar (Burma) — Exploring the streets around Hotel Mandalay, Mandalay, Myanmar (Burma) — out and about in Mandalay for some street photography — I had a great time exploring some local streets and a market
Myanmar (Burma) — Time for some more street photography — this time, it was mainly local transport
Myanmar (Burma) — Demolition in Mandalay — old style — I watched the demolition of a building next to my hotel, and I had to admire the effort
Myanmar (Burma) — Mandalay Grand Royal Palace — an afternoon exploring a palace in Mandalay, wonderful
Next week, I will tell you about my shocking visit to a zoo in Mandalay and a walk up a hill.
Useful links
UK Government Website:
Reflections
This time last year, heat records were tumbling in the UK (see issue -74 - How's your summer/winter going?), and we saw a new high temperature of 40.3 ºC recorded in the UK. Unbelievable.
This July, temperatures in the UK have been below average, and mainland Southern Europe has experienced extreme heat.
What a difference a year makes.
Next week
Next week, in issue -25 — awareness. What have I become aware of? Plus, I will tell you about my RYA Helmsman’s Course. Did I pass?
Thanks
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Until next time,
Nick
PS, If you want to contribute something to the newsletter — a story, advice, anything — please get in touch.