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Early Retirement at 57

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Comments

  • Registered Users, Registered Users 2 Posts: 85 ✭✭chicks4free


    If ANY investment doesn’t work out then the reality is you have no one to blame but yourself.

    Max loans of 50% LTV for pension buyers prevent over committing by investors but each to their own. (Borrowing can also be expensive).



  • Moderators, Business & Finance Moderators Posts: 11,088 Mod ✭✭✭✭Jim2007


    Any investment can go wrong, which is why you diversify…..

    But choosing a high risk low return asset class, going all in, is not an unfortunate investment decision, it is recklessness. And when you do it with a pension you expose your dependents as well to a decision that very rarely can be reversed.

    Pension management is not about achieving the highest return possible, it's about achieving a given financial objective and a minimum risk. And putting 100% or thereabouts in to a single property is going against all the research out there and is pure speculation. Imagine having to explain this to your dependents later: Well yes I knew that this was not advisable, but I thought it wouldn't happen to us….. and that's why our pension pot is so small….



  • Registered Users, Registered Users 2 Posts: 166 ✭✭reggie3434


    Forsa looking for a 4 day trial in civil service, would bloody love that till I retire at 60!



  • Registered Users, Registered Users 2 Posts: 145 ✭✭Bannerman1969


    Would that be a 10 hour day though?

    Still 1 day less travelling to work.



  • Registered Users, Registered Users 2 Posts: 166 ✭✭reggie3434


    I think it’s same hours which is hard to swallow for managers I’d say



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  • Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭yagan


    I moved to the south coast of Ireland in recent years and it does feel like a completely different climate, so much so that I have a different wardrobe!

    My only complaint is the darkness so a few weeks in Canaries in Jan/Feb always breaks the back on winters for me.

    I'm not retired yet but I feel where I am is definitely very suitable for a stepped down lifestyle, lots of walks, good transport options to avoid car dependency etc. I can well imagine many more opting for south coast Ireland rather than taking their chances in Spain/Portugal.



  • Registered Users, Registered Users 2 Posts: 11,798 ✭✭✭✭Oscar_Madison
    #MEGA MAKE EUROPE GREAT AGAIN


    Ah lovely- continued enjoyment and health to you - I think for Spain/Portugal etc the thing to do would be to buy in your 30s or 40s assuming you have family and use that for 20 + years as your family grow up - then decide towards retirement does it stay in the family , sell off to support retirement funds or go live there fulltime?
    Buying abroad as you retire and be risky as:

    1. It takes time to get to know an area- what might seem like a good idea on a short break in summer could end up being a nightmare or at least not so pleasant at other times
    2. Really need to decide what you’re going to do - I know of people displaying advanced signs of serious alcohol abuse after living abroad for years - golf and drink is their life and probably a lot more drink than golf - not pretty - days abroad are long and you need to have that discipline to do something other than drink all day
    3. Additional taxes , water shortages and other challenges are becoming the norm in high demand tourist areas - your “bargain” property might become quite a monetary noose around your neck
    4. Remain healthy - quality and cost if medical treatment abroad may not be what you’d expect here


  • Registered Users, Registered Users 2, Paid Member Posts: 39,891 ✭✭✭✭Hotblack Desiato


    We could all have 1 day less travelling to work if stupid WFO-for-the-sake-of-it policies were relaxed.

    I'm partial to your abracadabra
    I'm raptured by the joy of it all



  • Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭yagan


    Golf bores me so no fear of falling into that lifestyle.

    We kind of already done the sun lifestyle with a few years in Oz so we know that novelty does wear off. We did learn a lot from how people retire in Australia however. Because it's mostly warm all year round many Ozzies sell the old house upon retirement, bank the sale and buy a massive mobile home and then spend years driving all around the continent until they're bored with that, then sell the bus, and buy a smaller retirement unit in a zone semi independent development.

    Their property taxes make it hard for retirees to justify wasting their pension staying in big houses as they age so there's lots of movement by developers to meet that downsizing market.

    Ideally I can imagine we buying a LHD campervan (mobile home is probably too much) and then we could spend a few months each year wondering around France and Iberia, perhaps even driving to Greece if we feel up to it. I love archeaology and history so for me it was be an odyssey.



  • Registered Users, Registered Users 2, Paid Member Posts: 21,217 ✭✭✭✭Bass Reeves


    Most Clerical public servants have a 35 hour week. So it would be 3×9 hour days and an 8 hour day. No issue with it provided it will not cause another drop in productivity and that the day off is not always Monday or Friday. So you end up over staffed mid week and understaffed Friday and Monday

    Post edited by Bass Reeves on

    Slava Ukrainii



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  • Registered Users, Registered Users 2 Posts: 26,814 ✭✭✭✭Mrs OBumble


    And totally unfair to people who already work part time for reduced pay - which is something many departments allow.

    So I don't think this will fly.



  • Registered Users, Registered Users 2 Posts: 3,434 ✭✭✭cute geoge


    9 hours would be an 8am to 5.30 pm (half hour lunch not paid for)which would not suit most people already in ps.At the moment you can build up flexi time working over and above the 7 hours shift which can go towards day and half holiday every month which suits people needing day off outside holidays ,so reality this is only kite flying by unions .9 hours is a long day and really resticts what one do outside of work them days



  • Registered Users, Registered Users 2, Paid Member Posts: 21,217 ✭✭✭✭Bass Reeves


    It might work linked to WFH a couple days a week. There is a lot of call center type work in the PS. Most PS type call center work is only 10-12.30( to allow finish off of holding calls) and 2-4.30. However more and more people cannot access these services during these hours. 9 hour days would allow more flexibility in reality 9-8 is the most needed coverage.

    Slava Ukrainii



  • Registered Users, Registered Users 2 Posts: 5,099 ✭✭✭griffin100


    I was at a conference in the US a couple of years ago which had a section on the 4 day week. It was being being pushed really hard in the tech sector at the time and there was a group lobbying Congress on this.

    Their vision of a a 4 day week was one where you did your 5 days work over the 4 days rostered and you kept the same level of productivity by removing the time wasting activities like having non work related chats with colleagues, cutting down on breaks, etc and by working longer hours on the days rostered if needed. It didn’t sound great the way they described it tbh.



  • Registered Users, Registered Users 2 Posts: 6,260 ✭✭✭Trigger Happy


    That's interesting. I do think that the work in the US is a sh1t-show though. Their labour rules are so slack compared to what we have in europe. Employees tend to have so little protection. And the lower you go down the salary chain the worse it gets. They have a lot of catching up to do and with a right wing government in place for the next 2-4 years it wont be getting better anytime soon unfortunately.

    I am not sure if he is joking but their new head of government efficiency Elon Musk is looking for a-list candidates to work 80 hours a week for him - unpaid. Change starts at the top!



  • Registered Users, Registered Users 2, Paid Member Posts: 39,891 ✭✭✭✭Hotblack Desiato


    but but we were told all of those informal chats in the office were actually essential for team bonding, innovation etc etc instead of being a massive timesink 🙄

    I'm partial to your abracadabra
    I'm raptured by the joy of it all



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