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Thread: Retirement - What's Your Excuse?

  1. #1
    Senior Member Jim_S-V6_2004's Avatar
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    Retirement - What's Your Excuse?

    How retired people describe themselves:
    https://www.bbc.com/news/business-48882195

    I've been Forcefully Retired since 2012, at the ripe old age of 58, thanks to hiring managers looking for employees younger than themselves for whatever reason, disregarding the candidate's expertise.

    I was told at 36 that the hiring manager was looking for someone younger with 6 years of senior engineering management expertise.

    I calculated for him that a graduate would be 24, would only be offered a management position after 2 years minimum, and a senior manager position after another 4 to 6 years. That would make him or her 30 at senior manager, plus the 6 years experience in that office that he wanted would make him/her 36 years old. That was me.

    I just got the blank stare for a moment and he stopped the interview.

    He was 28.

    Parked outside were 2 Porsche Carreras. A young company milked by its founders, dead and gone less than one year later.

    From 2010 to 2012 I had 6 in-person interviews after passing a series of 2 or 3 phone interviews each time.

    All of them dropped their faces when I entered the room and they saw wrinkles and white hair. At two of them the senior person stood up and apologised and cut the interview short, "something came up". One left the room passing me to a second person who didn't know what to say. The other gave me 5 minutes and "really had to go, sorryJim". At another I found myself leading the interviewers who couldn't find momentum.

    In 2012 I was given a storage sales manager job by a very kind manager which unfortunately was in a long slump period and not one customer from the 77 I was given to chase had a current budget. So after 6 fruitless months I was on the street again.

    I should have offered to continue for another 6 months without pay, to give myself a chance as well as the company.

    But I didn't think of it, that's my mistake. Maybe this will help someone.

    Since 2012 I've asked recruiters who called me to check my age with their clients first and call me if it was "OK". All of them said "No, it's your skills they want, don't worry". None called me back.

    So here we are in Sunny Cyprus, to reduce our living costs. But we're spending a ££shipload entertaining!

    And now I'm waiting for next March, my delayed official retirement date, 9 months after my 65th.

    What's your story?

    .
    Last edited by Jim_S-V6_2004; 24-08-19 at 17:15.

  2. #2
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    There's plenty of work out there for oldies,you just learn to be not too fussy!

    I'm spending summer weekends dropping packets for Herpes,the pay is shite,around £50 a weekend for 100+ packets,but is very worthwhile when on a Sunday morning a lovely young lady cums(that is spelt correctly)to the door dressed in a see through nightie.....

    Next summer I intend to try Asda,delivering/picking home deliveries at 20 hours a week.It will be minimum wage,but I'll not have to pay NI,just PAYE.

    These jobs are usually done by East Europeans,so at the very least,I'm doing an illegal out of a job....



    My state pension plus my RAF pension is always just enough to nudge me into PAYE,but additional income via investments that offer a 'capitial gain' allows me to use the capital gain allowance,as this is currently set at £10.5kpa,I can avoid tax on this extra income.

    In reality,pensioners are currently getting a raw deal regarding taxation, we really should be on a tax-free limit of at least £25k pa,come the next GE and I will be questioning door knockers on this item.

    2000 S Type manual(now sold and replaced with a Transit Connect that ate it's engine in Spain and replaced with another Connect known as the Micro Stealth Camper) BMW E30 cabbie in the very rare neon green colour and a Nissan Micra for 'er indoors!

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    It too have an RAF pension which has allowed me to reduce my working week to 21 hours. I'm lucky that those 21 hours are in a reasonably well paid arena and being self employed helps too. But having travelled to Cyprus more times than I can remember I envy your position a little Jim!

    Hope you're all having a great weekend!

    Richard.
    2017 XE Portfolio 180PS AWD in Santorini Black with climate pack (I don't scrape!) panoramic roof, privacy glass and 19" style 1015 wheels (that I'd happily swap for a nice set of 18" 5 spokes. Anyone?)

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    In many ways I have been very fortunate.

    In my early 20s I started an agricultural contracting and crop spraying business which did well. We had always planned and budgeted to retire at 55.

    In my early 40s I had an extremely attractive offer to sell the business so took it and invested the money in BTL propertly. It was not quite enough to retire on confidently so I worked for one of the large ag-chemical manufactures until my mid 50s when we felt that there was "enough in the pot" to call it a day.

    I love being retired and spend much of my time on adventure travel and extreme fishing.

    The only downside has been that my late wife only had 3 years of retirement with me.

    I can not believe IDS's stupid suggestion of raising the retirement age to 75 especially with an election imminent ........One sure way of pissing off middle aged Conservative core voters.

  6. #5
    Senior Member Jim_S-V6_2004's Avatar
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    Percentage, I'm desolated that you lost your wife, my condolences. It's not what we hope for.

    In the UK we need £2,000 income per month to be just about comfortable, £2,500 to be comfortable.

    What I mean by "comfortable" is to be able to run 2 cars, buy any food we want, buy prezzies, jump on a plane for a 2-week holiday with rental car now and then and not feel we have to watch what we spend. £3,000 would be great but I don't think that's achievable for us.

    That's without a mortgage. I'm not sure we can achieve £2,500 even with renting our house in the UK. I'm psyching up to apply for my delayed pension to find out how much, I'm worried it might not be enough

    Here in Cyprus we need the same numbers in Euros.

    For Greece people tell us around €1,500 is a king's pension but working people's average income is €800 and their pension would be around €450 now. They used to get around €800 to €1,200 before but everyones pay and pension has been cut. Government employees were getting enormous pensions before the crisis, I don't know if they've been cut too now.

    What's your knowledge of other countries?

    We may need to move to a cheaper country if my pension and rent doesn't cover us here. Eventually we'll have to sell our house but that money won't last and our kids can't cope with us 24 x 366. Nor we with them, let's face it.

    .
    Last edited by Jim_S-V6_2004; 25-08-19 at 12:00.

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    My story is that I discovered computing in 1981 at the age of 31, I was the only one off my TOPS course to get a job at the end. I was lucky and managed to keep working until 2004 when I was made redundant amd struggled for 4 months when I was rung up by an agency and asked if I knew MS project and could start a contract in 3 days time. I replied yes and then bought the course manuals and learnt it over the weekend . Then another contract opened 8 months later so I commuted to Slough working on the NPfIT programme for 6 months. The writing was on the wall with that so joined the supplier for the NPfIT program in the west midlands in 2005 where I lasted till 2012.

    They made me redundant, I could have retired at 62 but it would have been a struggle, my wife was still working and I didn't want to. So after a few months found another company to take me on. Commuting to Leatherhead from the west mids. We fell out in 2015 so I left and I really did consider retiring as I now had state pension. But my private pension funds weren't quite what I wanted.

    Then I heard my old company (ones who made me redundant in 2012) was recruiting again in the same team so I applied for and got my old job back. Happy days, put most of my salary in company pension scheme and defered my state pension.

    Did that for 2.5 years until they made me redundant again by which time I was comfortable financially so retired finally in 2018 and haven't looked back since. My wife also took voluntary redundancy after 35 years local goverment and early retirement in 2017 so we spend our days either sitting in the sunshine in Devon or other parts of the country.

    Life is very agreeable at the moment, we're not mega rich but comfortable enough not to worry.
    XF MY15.5 3.0d S Portfolio Stratus Grey with Ivory interior.

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  9. #7
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    Quote Originally Posted by Jim_S-V6_2004 View Post
    Percentage, I'm desolated that you lost your wife, my condolences. It's not what we hope for.

    In the UK we need £2,000 income per month to be just about comfortable, £2,500 to be comfortable.

    What I mean by "comfortable" is to be able to run 2 cars, buy any food we want, buy prezzies, jump on a plane for a 2-week holiday with rental car now and then and not feel we have to watch what we spend. £3,000 would be great but I don't think that's achievable for us.

    That's without a mortgage. I'm not sure we can achieve £2,500 even with renting our house in the UK. I'm psyching up to apply for my delayed pension to find out how much, I'm worried it might not be enough

    Here in Cyprus we need the same numbers in Euros.

    For Greece people tell us around €1,500 is a king's pension but working people's average income is €800 and their pension would be around €450 now. They used to get around €800 to €1,200 before but everyones pay and pension has been cut. Government employees were getting enormous pensions before the crisis, I don't know if they've been cut too now.

    What's your knowledge of other countries?

    We may need to move to a cheaper country if my pension and rent doesn't cover us here.
    Eventually we'll have to sell our house but that money won't last and our kids can't cope with us 24 x 366. Nor we with them, let's face it.

    .

    Thanks for the kind thoughts Jim, I guess most of us have some good bits in our lives and some bad. We were fortunate that having met at 18 and got married at 20 we had 42 years together......Still would have wished for more buy have to be grateful of what we had.

    We were fortunate that our business prospered and eventually sold well then not trusting Financial Advisers, our choice of BTL through a period of rapid growth in property prices proved a sound one.

    I now travel extensively, 4 long haul and 2 shorter trips most year. I enjoy Overland travel, by road in the summer and snowmobile in the winter often combined with extreme fishing (marlin, sailfish and big tuna). Just finished travelling the Pan American Highway from the top of Alaska to the tip of Chile.

    As for economic places to live I am of limited help. One of my favourite places is Baja California - actually part of Mexico. It is very cheap to live there with a lot of ex pat Americans / Canadians, snowbirds and ageing hippies. I spend a couple of months there most years and if I did not live in the UK and had a partner - that is where I would go. Your idea of Greece sounds OK but others will have more knowledge..........Croatia looks interesting but I have not been yet.

    I will be interested to hear other peoples suggestions.

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    My excuse was very complicated I suppose.
    I had been working for a catering contract company for approx 6 years and one night I awoke at 1am unable to breath with severe pain in my right side lung.
    An emergency ambulance and paramedic were called I was rushed to Hospital and diagnosed with Pneumonia.
    .
    The next day I was advised to have a feed tube put through my stomach wall to feed me due to my 45 years disability which can affect my swallowing.
    I reluctantly agreed to the procedure and regretted it BIG time because I then suffered massive infection and spent 12 weeks in Hospital.
    .
    When I came home and my employer realised the severity and more time of work I was dismissed from my job.
    Then following a serious chat with my GP explain my many physical problems etc she told me that I will never work again and she will support me and sign forms to confirm this.
    The Jobcentre Plus DHSS accepted her judgement.
    .
    So, I became unofficially retired during August 2015 and in October 2019 I will be 65 years old though was supposed to work until 66.

    Supertrev.
    Now driving a new purchase 2009 XF 3.0 Ltr Turbo Diesel in Lunar Grey with Dove Grey Leather Interior.

  11. #9
    Senior Member rchiv's Avatar
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    Well mine started when I was made redundant after 23 years as an accountant in 1991. Just before the regulations changed regarding redundancy pay. I was paid a pittance and had a wife, three kids at school and a mortgage. I applied for over 400 jobs and got 6 interviews and close twice. The main reason was that I was 43 and apparently either too old or too experienced to be employed. I had 14 different CV's all outlining different parts of my experience.
    After 18 months I decided to put what knowledge I had personally gained over 30 years of rebuilding and repairing my own vehicles including cars and motorbikes, collecting tools along the way, and started my own Mobile Auto Electrical (self employed) business. You have to know the mechanics before you can determine if a problem is mechanical or electrical. Mobile Mechanics is a really dirty job so electrics it was. The good thing was that I could do my own accounts and liaise with the tax man on a professional level. This kept me going until 2014 when it was obvious that with the scrappage scheme and the way new cars were made more reliable, electronically, and that anyone who had an older car would do their own work meant that it was not a viable proposition to continue. I received my frozen final salary pension when I reached 60 and the government pension (with reduced additional pension which you did not get if self employed) at 65 and as my earnings were not brilliant I could not take an additional personal pension either. So I sold the van but retained all my tools etc. Owning the Jag from 2008 made me get the SDD clone as the ordinary readers that I had (and still have) did not cover the complexities and from there it is history, I will have been married for 50 years next year and finances are tight at the best of times but that is life.
    I may not be rich in money terms but very rich in other ways.

    Roger
    HEY I THOUGHT I HAD RETIRED, Ex Auto Electrician
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  13. #10
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    Dying on a job (construction) with a few bob in the bank the very thought of makes me cringe ,rchiv if you spent a long time as an accountant and still had a mortgage were you any good ��

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