The Retirement Newsletter: The meeting

Issue Number: -13 — Did I have the meeting and push the big red button for retirement?

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Welcome

Welcome to issue -13 and the big question. Did I push the big red button and officially start the countdown to my retirement?

I have 13 weeks until my planned retirement date. Is it go or no go? How did the meeting go? Did I have the meeting?

The meeting

In a way, I had been planning for the meeting for over 40 years.

Planning

My original plan was to retire at 55. The age at which my dad retired. He managed to get 15 years of good retirement until his health became an issue. And that is what I want — a good few years without my health being an issue to enjoy my retirement. I feel like I have earned it.

When I was 18, I started my first full-time job, and even then, I was planning for my retirement.

I paid into the ‘works’ pension scheme, which became ‘lost’ when the company folded. I have discovered that because I only stayed with the scheme for a short time, the money was transferred to the government scheme (see Issue - 16: Quarterly review — end of quarter 3, 2023).

My university years (undergraduate degree and PhD) were lost years of saving as I had no money and I couldn’t pay into a pension.

During my US years, I paid into a pension scheme, and initially, it did very well until the ‘tech bubble’ burst in 2000. It then took nearly ten years to recover the lost ground.

Unfortunately, I had to cash in my US pension early (at a loss) as UK finance companies got ‘twitchy’ when I talked to them about savings and pensions because I had money in a US pension. The little money I got back, I put into a tax-free Individual Savings Account (ISA) in the UK.

In total, I had lost about 11 years of pension savings (three years for my undergraduate degree, three years for my PhD and five years in the US). So, I have spent the last 25 years paying as much as possible into my pension. And a few years ago, I realised I was on target to retire early. Not at 55 as I originally wanted, but at 60. Not bad. I had made up a lot of the lost ground.

However, things are not ideal. My pension pots will support my retirement, but they could be better. I can retire, but not at the comfort level I had hoped. I will certainly need some extra income until my State Pension kicks in at 67. Hence, my interest in side-hustles (see Issue -36: Fourteen ways to make a little extra money in retirement).

So, did I have the meeting?

Did I push the button?

Did I have the meeting?

Yes, I had the meeting.

I went in prepared.

I had a plan.

We discussed options. My boss was surprised at the news; I don’t know if that was good or bad.

I stuck to my plan but did agree to consider things and meet again in a couple of weeks. So, some slippage.

Did I push the button?

Well, yes and no.

As they say — “the cat is out of the bag”. My boss knows the situation and that I want to leave — but not necessarily that I plan to retire. I was asked what I planned to do. Maybe that was an attempt to determine if I was sitting on a job offer. Who knows? For the record, I do not. My plan is to become self-employed and use some side-hustles to help find my retirement.

OK, I will say, button pushed.

Post-meeting

I came out of the meeting feeling almost euphoric. I felt good and have taken this as a sign that I have made the right decision.

But the next, I felt terrible. I had no energy. I was experiencing a release of tension from the build-up to the meeting and the work stress I have experienced in the last couple of months. My get-up-and-go has got up and gone.

I still feel I have made the correct decision, and the button has been pushed.

Health — COVID-19 and flu jab

I had my COVID-19 and flu jabs this week. One in each arm. COVID-19 on the left and flu on the right. I had one of the latest mRNA COVID-19 vaccines designed to tackle the new variant.

I had no post-jab issues. I didn’t even have a painful arm. The next day, I felt fine, and I had forgotten I had had the jabs until someone asked me how it went and how I felt.

Have you had your COVID-19 and flu jabs?

Travel — Nostalgia Corner

This week, more on my time in Malaysia:

• Malaysia — Muzium Bugis, Pontian Besar, Johor, Malaysia — a small museum that is a showcase of the history and culture of the Bugis people.

• Malaysia — Tanjung Piai National Park, Tanjung Piai, 82300 Kukup, Johor, Malaysia — The most southerly point in mainland Asia and somewhere I visited many times when I lived in Malaysia.

• Malaysia — Desaru Beach, Bandar Penawar, 81900 Kota Tinggi, Johor, Malaysia — Going to the beach in Malaysia. Something I rarely did as it was too hot!

• Malaysia — Drive south from Desaru Beach, Bandar Penawar, 81900 Kota Tinggi, Johor, Malaysia— Exploring the coast east of Johor Bahru — an odd landscape.

• Malaysia — Jade Garden Seafood Corner, 54 Jalan Kerisi Sungai Rengit (Kampong Pengerang), 81620… — Lunch at the Jade Garden. A good meal in an odd place.

Next week, I will share more about living and working in Malaysia.

Next week

Next week in issue -12 — ten things I think I won’t miss from work when I retire.

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.

Please note: I am not a financial advisor. Writing about money and financial matters is based on things I have read over the years about money and preparing to retire. IT IS NOT FINANCIAL ADVICE.