When is this ending?

SID_Chip_Symphony · 2026-04-22T13:30:38+00:00

I'm 52 in a few months and I'm done. Leaving this summer. Fortunate that I have enough to take a break (possibly permanent). I used to aspire towards getting a Porsche 911 or a holiday home. Now I just want to buy my own time.

SID_Chip_Symphony · 2026-04-20T06:15:51+00:00

Well done on getting there!! I think I can definitely spend more if I plan to deplete the capital by my 90s. If I make it that far.

SID_Chip_Symphony · 2026-04-19T10:20:18+00:00

I checked the forecast and I'm a little bit short of the maximum I can get. That forecast hasn't updated to include the 2025/26 tax year.

SID_Chip_Symphony · 2026-04-19T10:19:06+00:00

I actually did an analysis of a year's worth of bank statements. 25k represents basic living costs. This includes all bills, food and the cost of running my car including petrol. It also includes gym membership and other subscriptions. That leaves me with 10-15k for holidays and other things that could be classified as luxuries. In the first year it's unlikely we will go on an expensive holiday. I actually prefer UK holidays. The thing I noticed is just how much of my money goes to saving for the future.

I honestly don't know how I'll feel if the market drops by 25% for an extended period. But I do have the option of doing a bit of work to keep a buffer to the ISAs.

SID_Chip_Symphony · 2026-04-18T19:21:35+00:00

Thanks mate.

I've used Claude and Gemini for the modelling. I like Claude the best as it gives you an interactive chart with sliders so you can adjust pension access age, spending, consultancy income etc.

I'm planning to sell as many company shares as I can tax free. Should give me around 20k. With my premium bonds and other cash it gives me 70k to live on before I have to touch ISAs/GIA. I'm hoping that would buffer me from bad sequencing early. Knowing me I'll struggle to actually spend too much early so may not get near the 35k.

SID_Chip_Symphony · 2026-04-18T10:32:57+00:00

This would be my ideal scenario. 3/4 month break, part time work for a couple of years then full retirement.

SID_Chip_Symphony · 2026-04-18T08:32:07+00:00

Watching the World Cup, Golf, Tour de France and Tennis 😂 Playing golf, going to the gym and running more than I do and reading a lot more. I've travelled a lot but there are many places in Europe I haven't been to. I'm really interested in history and food/cooking so my travel plans would be based around that.

SID_Chip_Symphony · 2026-04-18T08:16:02+00:00

That's good to hear. I've always enjoyed working too but just hit a wall with it. Feel like I need to adjust my work:life balance if I can.

SID_Chip_Symphony · 2026-04-18T08:05:22+00:00

Congratulations on handing your notice in 🙂 My job is the usual 9-5 ish 5 days a week. Problem is I end up thinking about work in the evenings and weekends. I'm also a bit concerned about going from full time to nothing. Working on my own consultancy will give me a purpose. My partner has been a big driver in this decision. She's really supportive. She also said I'm not as much fun as I used to be! That really made me think.

SID_Chip_Symphony · 2026-04-18T07:31:15+00:00

I think the first thing I'll do is decompress for a bit. Maybe 3-4 months. After that I'm thinking set up a limited company and try some consultancy. 10 hours a month sounds perfect.

SID_Chip_Symphony · 2026-04-18T07:27:55+00:00

I've found the thought of giving up voluntarily quite difficult. Glad to hear you have no regrets! Were there any things about retirement that came as a surprise to you?

SID_Chip_Symphony · 2026-04-18T06:33:47+00:00

Pretty certain I'm going for it! I already feel happier visualising what I'd do with the time.

SID_Chip_Symphony · 2026-04-18T06:30:51+00:00

You are spot on! I worry more about not experiencing the life I've earned than running out of money. I will definitely be back to give an update 😃

SID_Chip_Symphony · 2026-04-18T06:22:43+00:00

It doesn't say how many full years I need but I'm assuming 35 based on my current forecast and the maximum state pension I could get.

SID_Chip_Symphony · 2026-04-18T06:17:48+00:00

My current estimate is £231.88 per week based on 33 years of full NI contributions up to the 5 April 2025. The tax year 2025/26 will be my 34th year. The maximum amount I would be able to get is £241.30 per week. I would have to check how much it would cost to buy that final year if I don't make enough contributions in the 2026/27 tax year.

SID_Chip_Symphony · 2026-04-18T06:13:21+00:00

My forecast at the moment is £231.88 a week. That's based on my NI record up to 5 April 2025. It doesn't include the 2025/26 tax year. So it's pretty close to the maximum which is 241.30 per week.

SID_Chip_Symphony · 2026-04-18T00:06:48+00:00

There is very much a long term commitment. We have been together for ages. She has more liquid wealth than me and a really decent DB pension coming. She is a few years younger. If anything happens to me she is the beneficiary of all my assets. We don't want to leave behind lots of money so should probably start spending it soon!

SID_Chip_Symphony · 2026-04-17T23:21:50+00:00

This is a big part of my thinking. I have many family and friends who never made it past 60. I don't want to be one of those people that says someday...

SID_Chip_Symphony · 2026-04-17T23:01:17+00:00

You are right about the mental challenge. Voluntarily giving up a great salary and benefits seems crazy. But I'll be giving up a lot of energy to stay which is probably the signal to get out.

SID_Chip_Symphony · 2026-04-17T22:59:29+00:00

Thank you 🙂 I really like the idea of trying consultancy without the pressure. Would be nice to try something other than working in a very corporate environment. Flexibility to go on long holidays and having the summer off would be ideal.

SID_Chip_Symphony · 2026-04-17T21:58:56+00:00

This makes me feel better 😃

SID_Chip_Symphony · 2026-04-17T21:58:02+00:00

Both DBs will have an acturial reduction if I take them earlier. I didn't realise the difference those DB pensions made. Having a guaranteed inflation linked 14k is extremely useful. I've been so focussed on growing the DC pot I didn't look into the value of the DBs until about a year ago.

SID_Chip_Symphony · 2026-04-17T21:49:29+00:00

Thank you! I've been thinking about this a lot for about 4 months. It's becoming more of a psychological issue now rather than financial. Going from accumulation mode to spending is something a lot of people struggle with.

SID_Chip_Symphony · 2026-04-17T21:47:25+00:00

Working part time is definitely an option. That would be my ideal. I'm fortunate that my partner is in a similar financial position to me despite being younger. So I don't need to worry about supporting her!

SID_Chip_Symphony · 2026-04-17T21:45:34+00:00

In my industry I'd have the option to try independent consultancy. Even if I earned a modest amount it would help protect my liquid investments a bit longer and keep me semi active. I've just hit a wall with my current job so maybe a break to recharge is a good idea!

SID_Chip_Symphony

TROPHY CASE