Are you going to retire at 66

OrangeNinja · 24-01-2026 02:46PM

My friend worked his backside off for 38 years saving like crazy for a great pension pot and then dropping dead 18 months before his planned early retirement at 60. He never really enjoyed himself like i have travelling always said he couldn't afford this and that and i so wish he had of looked at life differently now.

Iv'e been all around the world on a motorbike, eating and drinking out, buying nice stuff for people i love etc… Okay i won't have a massive pension pot when i retire but i'd rather have enjoyed myself in the years i was able to do just that than do it in my late 60's or 70's when i know i wouldn't be capable of doing a lot of stuff.

I went to Everest basecamp a few years back as it was always a dream walk for me to complete and yes it cost me a fortune but it was just amazing and emotionally epic and i know for a fact if i'd been saving like crazy for a pension i never would have done that.

I don't want to die in my 60's of course who does but if i do i'll die knowing i enjoyed myself and that's much more valuable to me than having a lot of money put aside for the inevitable day of retirement.

littlefeet · 24-01-2026 03:49PM

https://www.boards.ie/discussion/comment/124175231#Comment_124175231

There are a lot of variables. One person on their own with the state pension + a small pension, say 2k a month, is living a very different life than a couple with an income of 4k a month. There are so many other variables as well. The new auto-enrolment pension will soon mean 100% of workers have an annuity pension as well as the state pension.

littlefeet · 24-01-2026 03:56PM

https://www.boards.ie/discussion/comment/124175622#Comment_124175622

A huge of people in Ireland are wedded to staying on the postage stamp they have always lived on, they can't imagine selling up and retiring somewhere else, its changing a bit though and a fair number are providing child care for their children even into their 70s.

dublin49 · 24-01-2026 04:04PM

https://www.boards.ie/discussion/comment/124175542#Comment_124175542

Granted,but an appartment would be proportionately cheaper in the same locality which would yield a decent next egg.

mun1 · 24-01-2026 04:33PM

57,

hoping to pull the pin at 60,

Good DB pension waiting inc 6 figure lump sum , 6 figure savings investments matured.

Mortgage free

Kids will both be 2 yrs out of college.

Wife is a year behind me.

Hoping to do a lot of lazy traveling for at least 5 yrs and spend my pension lump sum (flexi timescales, flight hopping, Tuesdays clubs etc).

Plan to use my skillset, electrician, handyman, project manager , to do charity work to keep brain busy .

My health is my wealth

Busman Paddy Lasty · 24-01-2026 05:20PM

https://www.boards.ie/discussion/comment/124175622#Comment_124175622

Will ease into it with France and Spain before messing with Italian traffic! Hopefully won't have to sell the house and buy a modest camper not the big RV beasts.

yagan · 24-01-2026 05:27PM

The options for down sizing comfortably aren't great.

Ultimately the basic criteria is something like this.

Shops like Aldi/Lidl that provide the essentials are an easy safe walk.
Nice walkable areas with a cafe or two
A primary care centre is a plus
A good public transport link is a bonus.

When we were moving back to Ireland we pretty much applied the above criteria so some weekends we simply don't need to drive. Most average sized towns in Ireland can offer the same, but having lived in car dependency before I'd advise anyone currently in such a position to prioritise a change before it gets too hard.

My only concern for the future now, aside from keeping in good health, is to downsize. While I do enjoy gardening I could definitely do with a smaller lot and no lawn to maintain.

yagan · 24-01-2026 05:35PM

https://www.boards.ie/discussion/comment/124175997#Comment_124175997

I've been thinking the same. Spain is fairly empty and the north is massively underrated and overlooked. Anyway I'm a few years away yet from making a decision on it, but I much prefer it to the option of buying a flat on some Costa that I'll get bored of after the third visit.

Besides having lived in Oz I'm over living in a hot country so campervaning in Iberia and France in the shoulder seasons would be my speed.

Hibernicis · 24-01-2026 05:39PM

https://www.boards.ie/discussion/comment/124175622#Comment_124175622

I don't how I'd feel about driving around Europe in my sixties, driving a car in Sicily in my 30s was one of the most nerve racking experiences ever!! I'd probably just eurorail for a few months at a time and do it in comfort.

This is an excellent suggestion and I'd strongly encourage you to make it a goal.

I've done a lot of travelling since I retired and it is exhilarating. Regular weeks in the sun and city breaks and a good few weeks/long weekends in Ireland. But I have most enjoyed some very long overseas trips (on three continents) involving long distance train travel interspersed with car hire for local exploring at key points along the way and it's incredibly enjoyable. It's as much fun as my inter-railing trips many many years ago. I'm not a train anorak but I willingly admit to enjoying train travel for the pace, the scenery, the experiences and the company along the way. Iv'e been fortunate to get to see places I never expected to get to and it can be reasonably affordabe if you plan it and don't loose the run of yourself while always keeping a few quid in reserve for any unique opportunities that crop up along the way (helicopter rides over cities and scenic spots, river trips in rainforests, nights in memorable accommodation etc.). And my list of train trips I want to take is now longer than it was when I first started !! I spent a couple of hours last Monday night going through the train routes in the Nordic countries sketching out possibilities.

malibu4u · 24-01-2026 05:45PM

https://www.boards.ie/discussion/comment/124175819#Comment_124175819

2000 a month on top of the old age pension may be only "a small pension" to you, but 40% of those in the private sector have no pension and the average pension in the other 60% of the private sector is only 4,100 per year ....that is only 342 per month. In addition to the oap of course.

No super 5 star holidays overseas every month or two on that.

Hibernicis · 24-01-2026 05:51PM

https://www.boards.ie/discussion/comment/124176014#Comment_124176014

My only concern for the future now, aside from keeping in good health, is to downsize. While I do enjoy gardening I could definitely do with a smaller lot and no lawn to maintain.

Another excellent point. My parents failed to downsize when they were in their 60s/early 70s. The result was another 20/30 years afterwards rattling around in a large house that cost a fortune to heat. The garden was far too big for them and caused endless grief for my siblings and I, as did house maintenance, security etc. In terms of resources, there was little to nothing located conveniently. The neighbours they knew and liked died off or moved away and they were left surrounded by strangers. It was sad and miserable and it was a very valuable lesson. I decided to downsize in two phases, once in my 60s and again probably in my 70s and had already completed the first step. And all your criteria plus a few were on my list as well.

In summary, I'd see downsizing having two key benefits, firstly equity release and secondly moving to a more lifestyle/age appropriate location/house.

yagan · 24-01-2026 05:53PM

https://www.boards.ie/discussion/comment/124176061#Comment_124176061

I think the most ambitious thing I have in mind will be a cross continent Eurovelo 6 route. There's good dedicated cycle lanes until you get to Budapest, then it gets sketchy so I might bail out there. I've an older retired sibling who done some of it and he highly recommends it.

Having lived on the far side of the world for years I'm well cured of long haul desire, but I would love to go to China to avail of all their new high speed trains. It would be a lot easier than the cramped dangerous over night buses we used to take getting around south east asia decades ago.

Appletart Upsetter · 24-01-2026 06:04PM

I'll probably need to keep working till I'm 65 so maybe that's influencing my outlook but I've always assumed it would be good for your well being to work as long as you can. I enjoy my job, it's relatively stress free and mentally and socially stimulating.

Having read through this discussion it's certainly given me food for thought. However, I am introverted and I'd be concerned retiring early would mean I might become a little bit withdrawn.

Hibernicis · 24-01-2026 06:07PM

https://www.boards.ie/discussion/comment/124176118#Comment_124176118

Having lived on the far side of the world for years I'm well cured of long haul desire, but I would love to go to China to avail of all their new high speed trains.

You say this but I'd almost guarantee that if you do try the HST's in China, the bug may bite and you might just find yourself looking at the long distance trains in NZ (spectacular), Canada (also spectacular), the US, AUS if you didn't do so while living there and some of the African routes, not to mention all the possibilities in Europe !!

yagan · 24-01-2026 06:08PM

https://www.boards.ie/discussion/comment/124176089#Comment_124176089

Who actually expects 5 star holidays every month or two?

Is the average worker enjoying 5 star holidays every month or two before they retire as is?

A comfortable retirement for me would be good enough health to take a few weeks break in an average hotel in the Canaries to escape the darkest months here and then the summer I'll enjoy gardening, as I already do. When gardening gets too much then so will travel.

yagan · 24-01-2026 06:25PM

https://www.boards.ie/discussion/comment/124176169#Comment_124176169

I feel I've sated the nz bug, done campervan trips there twice. My only recommendation is go in spring for the blooming alpine meadows!

The other times of year aren't as colourful, but overall it is campervan heaven.

I may end feeling the same way about Galicia too.

Hibernicis · 24-01-2026 06:40PM

The road trips in NZ are breathtaking, and that goes for both islands. And travelling through the more remote spots by road, especially the west coast of the South Island from Milford Sound all the way up north of Greymouth is incomparable. But if you haven't travelled the Northern-Explorer, the Costal-Pacific and especially the Trans-Alpine you haven't lived !!

Anyway we digress. It does go to show however that retirement goals and activities are very personal. The thing is to figure out what's right for you. Your sixties and in many cases seventies have the potential to be some the best days of your life. Embrace and relish retirement, whatever way your choose to enjoy it.

yagan · 24-01-2026 06:54PM

https://www.boards.ie/discussion/comment/124176265#Comment_124176265

You know I'll take your word for it, but having done long haul on return trips from Oz for years I made sure our last trip to NZ would be bliss.

It's a long way to go to see from a train window what we'd already experienced by campervan and treks.

If anything our time on the far side of the world made me more curious to see what we overlook in Europe.

Twenty years ago I loved the excitement of round the world travel, now the thought just makes my stomach turn a bit.

The last scratch I've left to itch is a china/Japan trip and I'm good.

Kalimah · 24-01-2026 07:05PM

https://www.boards.ie/discussion/comment/124176265#Comment_124176265

We did that two years ago. Incredible experience. Our daughter is living there for a few years now. If I can get there a couple of times in retirement I’ll be happy. Would love to do China too.

malibu4u · 24-01-2026 07:08PM

https://www.boards.ie/discussion/comment/124176173#Comment_124176173

If you have a pension pot worth well over a million, as the Irish Times say the average retiring Garda or Teacher has, and no work commitments time wise, then you certainly can travel much more worldwide , and more frequently, than most retired private sector workers.

yagan · 24-01-2026 07:23PM

https://www.boards.ie/discussion/comment/124176402#Comment_124176402

I know retired gardai and teachers and none of them are taking 5 star holidays every second month.

This notion sounds like something a financial product seller would put out to scare punters to load up on dodgy investments.

elperello · 24-01-2026 07:54PM

https://www.boards.ie/discussion/comment/124176483#Comment_124176483

Retiring teachers and members of AGS aren't eligible for the State Pension on top of their occupational pension.

andekwarhola · 24-01-2026 07:59PM

Yes - aiming for 65.

Part of me wishes I'd pumped more into the pension in earlier years (I'm really lashing into it now) as I'd love to retire early.

But I made the decision to enjoy life in my 20s-40s, not just for me but the family/kids and it was probably the right choice for me.

Once the mortgage is paid off; the kids' education and their starter fund (for a property deposit) is set aside, my retirement needs will actually be relatively modest. If I can pay my monthly bills and health insurance; run a car, heat the gaff, have a few pints and cover emergencies, I'll be happy out and that looks more than doable.

I couldn't see myself needing the monthly income I need now - what with mortgage, kids, savings, pension etc.

My wife is well sorted for retirement too and will be retiring earlier than me but obviously you need to always calculate for yourself only.

And as somebody said, you could die on the day of your retirement anyway.

facehugger99 · 24-01-2026 08:06PM

Rio go down.

That was a penalty.

JohnDoe2025 · 24-01-2026 10:11PM

https://www.boards.ie/discussion/comment/124175557#Comment_124175557

It is a false comparison.

Comparing collective pension schemes with individual pension pots is comparing apples with oranges.

That being said, a good to excellent public service pension is better than the average private sector pension. However, that diminishes with the new post-2013 scheme.

JohnDoe2025 · 24-01-2026 10:15PM

https://www.boards.ie/discussion/comment/124176061#Comment_124176061

Have you tried the high speed trains in China, what a way to get around!

highgiant1985 · 24-01-2026 10:35PM

I'm 40 currently and paying 25% in to my pension pot with an ER contribution of 7%. I'm hoping to have retired by 55 at the latest. That depends on how the next decade goes though as a lot could change but I've a decent size pension pot at the moment so hopefully continued contributions and compound interest pay off over the next decade!

OrangeNinja · 24-01-2026 11:03PM

https://www.boards.ie/discussion/comment/124176669#Comment_124176669

A pension penalty?

malibu4u · 24-01-2026 11:04PM

https://www.boards.ie/discussion/comment/124177164#Comment_124177164

According to the Irish Times link, Garda and Teachers and Public servants retiring now get a lump sum of 18 months salary tax free and a pension of half their finishing salary, index linked. Very few private sector workers get that. Huge difference.

JohnDoe2025 · 24-01-2026 11:07PM

https://www.boards.ie/discussion/comment/124177358#Comment_124177358

yes, but everyone contributes into the scheme, including the guy who dies one day before retirement. If you have a collective scheme, the person who lives to 110 has a huge benefit from it, but the person who dies before retirement age gets nothing but pay for the 110-year old. That means the comparison is false, as that never happens with the single person private sector pension which is used by the Irish Times.

Apples and oranges. As I have said the public service pension is better, but you have to live to avail of it. The wealth created in a private sector pension can be passed on.

Are you going to retire at 66

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