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Wales
by Joske Vermeule, September 1
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Forums39
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Posts838,116
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Jun 14th, 2026
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Joined: Nov 2013
Posts: 595
Talk Morgan Regular
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Talk Morgan Regular
Joined: Nov 2013
Posts: 595 |
Congratulations Neil.
Sounds to me that having worked so hard it's now time to play!
None of us know how long we are here for so enjoy every minute from now on, all richly deserved!
Worthers +8
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Joined: Apr 2011
Posts: 8,646
Needs to Get Out More!
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Needs to Get Out More!
Joined: Apr 2011
Posts: 8,646 |
Congratulations Neil.
I've been self employed pretty well all my life. Both kids are now off the payroll (yippee) and we are now at the point where we are starting to wonder about our exit strategy.
The trouble in France is Monsieur Hollande's high rates of CGT levied on the sale of a business (even a small one), coupled to the fact that as long as your capital is tied up in your business it is not liable to be counted for the dreaded "wealth tax".
I'm conscious of the people I've known who have carried on working maybe too long, and haven't left themselves the time to enjoy the fruits of their labour in retirement.
Striking that balance between retiring early enough to enjoy it, yet continuing long enough to stash enough cash for one's old age is a tricky call; letting go of a business you have built up can be emotionally difficult too.
Last edited by pandy; 17/06/16 08:15 PM.
Giles. Mogless in Paris.
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Joined: Jan 2009
Posts: 5,945 Likes: 28
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,945 Likes: 28 |
Good for you Neil.....at 68 (and having worked for so long) I think retirement should be 'staring you in the face' not just 'in sight'.
Mark B makes a valid point about savings and spending.....having saved money on a regular basis all my life I still haven't got my head around the idea that I can now spend it without feeling guilty and still worry about spending capital that I know will take a lot longer to replace than when I was working. But as SWMBO says 'What on earth did you save it for, if not to spend it at some stage?'. A valid point perhaps but old dogs find new tricks a bit of a challenge....
The good news is that you already know how you can occupy more free time....enjoy! You are far from being the only one with that spending issue. Its very difficult to change habits late in life, both my saving habit and my wife's habit of finding good reasons for spending it.
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Joined: Feb 2016
Posts: 30
Just Getting Started
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Just Getting Started
Joined: Feb 2016
Posts: 30 |
I retired 3 years ago and I have to say it is the best job I have ever had.
Tom.G.
2008 Aero 8 S4 auto. Grey
1960 Greeves
1957 Ariel Sq Four
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Joined: Apr 2011
Posts: 8,646
Needs to Get Out More!
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Needs to Get Out More!
Joined: Apr 2011
Posts: 8,646 |
Good for you Neil.....at 68 (and having worked for so long) I think retirement should be 'staring you in the face' not just 'in sight'.
Mark B makes a valid point about savings and spending.....having saved money on a regular basis all my life I still haven't got my head around the idea that I can now spend it without feeling guilty and still worry about spending capital that I know will take a lot longer to replace than when I was working. But as SWMBO says 'What on earth did you save it for, if not to spend it at some stage?'. A valid point perhaps but old dogs find new tricks a bit of a challenge....
The good news is that you already know how you can occupy more free time....enjoy! You are far from being the only one with that spending issue. Its very difficult to change habits late in life, both my saving habit and my wife's habit of finding good reasons for spending it. True. In particular, as we've lived through high inflation, it's hard to get your head around the idea that with low inflation and low interest rates on the horizon for the forseeable future, it's okay to chip away at your capital. I had this very conversation with my recently widowed mother in law (who was worrying that with the poor returns from her savings, she was going to struggle to get by on her pension & her investment income). I pointed out to her, that as she's 75, if she spends 4% of her capital annually over the next 25 years she's got plenty to live on. If there's none left, well big deal. It's her money.
Giles. Mogless in Paris.
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Joined: May 2011
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Drive on the Wild Side Part of the Furniture
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Drive on the Wild Side Part of the Furniture
Joined: May 2011
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Good Neil, I'm very pleased for you, look at your retirement as the opportunity to do everything you wanted to do, and have fun, and don't look back. Morgan days here you come and many other adventures! All the best 
Adrian
Buggered Off, to a modern none leaky car, heart's still ticking
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Joined: Mar 2010
Posts: 3,701 Likes: 135
Moderate or good, occasionally poor Talk Morgan Addict
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Moderate or good, occasionally poor Talk Morgan Addict
Joined: Mar 2010
Posts: 3,701 Likes: 135 |
A well done from me too. Retired myself two years ago at 56 and never looked back.
Cheers,
Ian.
2011 Morgan 4/4
1932 Austin 7 Chummy
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Joined: Dec 2009
Posts: 37,486 Likes: 992
Tricky Dicky Member of the Inner Circle
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Tricky Dicky Member of the Inner Circle
Joined: Dec 2009
Posts: 37,486 Likes: 992 |
Congratulations a good decision.
Did it 2 years ago at 63 and you find time for the really important things in life and leave the unnecessary out of it.
2009 4/4 Sport Henrietta
1999 Indigo Blue +8
2009 4/4 Sport Green prev
1993 Con Green +8 prev
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Joined: Jan 2007
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Talk Morgan Addict
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Talk Morgan Addict
Joined: Jan 2007
Posts: 3,481 Likes: 42 |
Congrats -- I went semi- retired at 49 and have enjoyed every minute of the 14 years since -- still work 2 days a week, but soon to stop that too!! You will not regret your move!!!
Robbie
2021 Plus Four -- Helga
211-WX-1433
"Fettlebodge"--A chief of the PaddyMogs
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Joined: May 2015
Posts: 412
Learner Plates Off!
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Learner Plates Off!
Joined: May 2015
Posts: 412 |
Good for you Neil.....at 68 (and having worked for so long) I think retirement should be 'staring you in the face' not just 'in sight'.
Mark B makes a valid point about savings and spending.....having saved money on a regular basis all my life I still haven't got my head around the idea that I can now spend it without feeling guilty and still worry about spending capital that I know will take a lot longer to replace than when I was working. But as SWMBO says 'What on earth did you save it for, if not to spend it at some stage?'. A valid point perhaps but old dogs find new tricks a bit of a challenge....
The good news is that you already know how you can occupy more free time....enjoy! You are far from being the only one with that spending issue. Its very difficult to change habits late in life, both my saving habit and my wife's habit of finding good reasons for spending it. True. In particular, as we've lived through high inflation, it's hard to get your head around the idea that with low inflation and low interest rates on the horizon for the forseeable future, it's okay to chip away at your capital. I had this very conversation with my recently widowed mother in law (who was worrying that with the poor returns from her savings, she was going to struggle to get by on her pension & her investment income). I pointed out to her, that as she's 75, if she spends 4% of her capital annually over the next 25 years she's got plenty to live on. If there's none left, well big deal. It's her money. I went through a similar exercise as you did with your Mother in Law a little while back.....essentially I looked at my 'worth' (for want of a better and more accurate descriptive word) and estimated (even on a good wicket) how long I might have left on this earth (with sufficiently good health that would allow me to do what I want rather than what I just can); I came to the (rather surprising) conclusion that I could afford to spend 'n' amount per year over the next 'n' amount of years, still live comfortably and have something left for a rainy day/to donate to my offspring. Since then spending has become a little easier - though inevitably it still goes against the lifetime grain of saving! 'Alea iacta est,I celeriter tempus deficit'.
'di te incolumem custodiant'
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