Exactly, even if you like your job, it’s not the same as choosing what you do with your time. My job is OK but I wouldn’t be here if I didn’t have to be.
I simultaneously enjoy my work and want to know when financial independence means that retirement becomes my choice. (I started thinking about retirement more as I got a bit older too, had dependents etc.)
“When can I retire?”
I got asked this on my recent remortgage.
I said “Age 50” to the lady, she looked at me above the rim of her glasses and wrote 67.
Guys, with all the respect for the retirement, I believe it is not a core function of the app. Let’s keep the focus on stocks. There is still a lot of work to do in this very area. Feature requests like this steal the attention from the important stuff in the short and medium term perspective.
SIPPs will be a core function.
Yes @szb there is a lot of work to do in that area. But I feel that retirement planning (or more generally “having goals”) is indeed utterly core. After all, the company aims to democratise investing. And one way to do that (and to get customers) is help people who aren’t yet investing understand why they should.
There is nothing wrong with thinking about early retirement. Doesn’t matter how much you enjoy your job, knowing when you will be able to stop working if you wanted too is a pretty good idea
Sorry, guys if offended anyone. It’s more a philosophical question for me.
I am personally not a fan of the retirement concept. I think it’s outdated nowadays. Why should anyone pay for me when I am old? The exception should be maid for the sick and unable to work, for the rest, I would prefer to get a higher salary and the freedom to invest it in the markets to reach my desired goals for a certain age.
I see the value added in this feature I am just bothered by the naming. “Savings calculator” is fine by me.
Love the idea of retiring early and it’s definitely something I will be trying in the next year. I’m trying to pivot my funds into dividends both from my company and stocks/investments. I plan to move to portugal where foreign income is tax-free for 10 years. Capital Gains is 28% but if you invest the gain that is halved to 28% of half the gain. eg. capital gain of 500 if you reinvest that 500 you will be taxed at 250@28%.
Their laws are very much geared towards investors unlike Ireland. We dont even have an ISA! Have a 9-5 as well. Hoping to leave that within the year and move to Portugal.
Retirement isn’t about someone else paying for you - it is literally financial planning and deferring access to money now so you have something to live on later
Fully agree here with you Mac. It’s about living on my own money not begging. Not a fan of having financial freedom and the freedom to do what you want? Don’t get that at all
What area of Portugal are you planning to move into if I may ask? What sort of lifestyle do you seek in there? Urban? Close to the coast? Countryside?
I am not a native speaker and might be automatically including in the early retirement concept the part where the state pays you a pension every month.
Early retirement means retiring with your own money, before you reach state pension age.
For living on your investments - I am all in
Cascais/Estoril. Maybe just outside depends on accom prices. Do you know the area?
That’s the spirit!
That seems to be the misunderstanding then. We all mean living of our own money, not receiving government pay.
Only by spending a few days as a tourist. Has reputation of being a posh area. It’s beautiful. Loads of quality amenities. Very close to Lisbon. If you’re in to surf you can find several options. I would expect housing prices to be above average.
Golf, tennis, football, rugby, beaches, Michelin star restaurants, very good non Michelin star restaurant at affordable prices.
If your line of work is in software development Oeiras is near by and getting hotter by the day…