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Countdown to summer 2018

Discussion in 'Retirement' started by holdingon, Aug 27, 2017.

  1. Alldone

    Alldone Established commenter

    You are leaving! Just keep reminding yourself. Do the absolute minimum - teach your classes and forget about the rest. Deadlines - pah. What are they going to do about it? Nothing - you are leaving. If you a feeling too stressed, warn them you might go off ill. Countdown timers are great. I put one on the smartboard in all my lessons. Just to let everyone know.
     
    eljefeb90 and lucylollipop like this.
  2. eljefeb90

    eljefeb90 Occasional commenter

    You wrote this at 4:30 in the morning ! Seriously, from what you say, you are at the end of your tether and won't make it through the next nine months. You need to start disengaging from the accountability agenda. You will not be around next academic year. Stop dancing to SLT's agenda. You don't need references, you won't be held accountable for your results as you'll be retired. You sounded massively stressed and need to let go. Ditch the b.s. and limit the hours you're doing. Enjoy your last months in the classroom and enjoy being naughty.
     
  3. the hippo

    the hippo Established commenter Community helper

    Well done, stoppers! Some good advice.

    Friday, 15th June, 2018 is "D Day" for me. I just cannot believe that it really is going to happen, but every day it creeps a little bit nearer. Mrs Hippopotamus is saying that next summer we will have to go to Russia to visit my in-laws. That might make an interesting start.
     
    eljefeb90 likes this.
  4. eljefeb90

    eljefeb90 Occasional commenter

    Great advice, but not sure about the 'broke 80 year old ' . Being in the fortunate position of having an index -linked teacher's pension and a state pension should cover your outgoings. My 80 year old relatives spend far less than they receive. Expensive travel and regular flights abroad are no longer priorities for them and expectations from children /grandchildren are massively diminished. Appetites of all sorts are more circumscribed. Despite enjoying time with friends and family, they do not need to save and don't tend to splash out on new big ticket items like cars and furniture. Because of this, they live on 60% of their pensions, not a frugal life, but one which suits their needs . It would be different if they were renting or needed to pay for care, I admit. Compared to the outgoings of a 30 or even a 60 year old, the 80 year old has far fewer demands on his/her resources. Please feel free to correct me if your experience leads you to draw different conclusions.
     
    frangipani123 likes this.
  5. stopwatch

    stopwatch Occasional commenter

    My comment was based on 2 things.

    Firstly, the book was written by an American, with American pension system which isn't as secure/is more complicated than ours. Therefore I believe there is more planning involved and the need to look far ahead. It also seems that there isn't such a 'forever pot' situation as there is in UK

    Secondly, from a personal perspective, I only have 21 years TP/half of half a salary so need to look at ensuring that what I have will last, at least until I (hopefully) get a full state pension plus a fair chunk of cash to further invest and grow. I also have a lovely wife who is non-UK and has no UK pension at all and will only receive half of half of half a salary (ie 50% of my TP pension ) and none of my state pension. We have never lived in UK and she has no UK pension payments. Therefore, as you see I need to ensure she is provided for, for a long time :):rolleyes:. She is 10 years younger than me so, by the law of averages will outlast me by a further 10 years.
     
    eljefeb90 likes this.
  6. eljefeb90

    eljefeb90 Occasional commenter

    I see where you're coming from. I would suggest it's the cost of health care in the USA that weighs so heavily on retirees over there.
     
    frangipani123 likes this.
  7. holdingon

    holdingon Occasional commenter

    Now 25.5% of my teaching year done.
    On the drive to work, I am starting to notice the weather more and thinking what else I could be doing. At the beginning of the year next summer seemed a long way off. Now less so. Still saving hard so that we can bridge the gap to 60, but on target so all good.
     
  8. Steph2002

    Steph2002 New commenter

    Hehe. You have enough. I have only 12.5 and I.m 60!! Have to keep on going to 65
     
    ikon66 likes this.
  9. stopwatch

    stopwatch Occasional commenter

    I also 'only' have 21 years. Gives just under £900 pcm. Definitely not enough to fully enjoy retirement - when I get to it in July. The State Pension on top would be fine, but another 6 years to go to that.

    As with others, the challenge is finding ways to supplement income until I get to State Pension

    One option,if you have paid mortgage, is to downsize house to release cash to supplement TPS until State Pension kicks in. Alternatively a part time and/or lower stress job bring in about £600 pcm would be enough
     
  10. the hippo

    the hippo Established commenter Community helper

    Recently a colleague here in southern China retired when he was 68. As for an overweight swamp-dweller, he is planning to head for the exit just after his 59th birthday.

    But maybe retirement will be very boring. I found myself looking longing at some skiing equipment today. In our village in the mountains, about 60km north of Sofia, the snow can be more than a metre deep!
     
  11. welshskyline

    welshskyline New commenter

    If you are looking at retirement from teaching I would strongly advise that you check your National Insurance record....here is the link

    https://www.tax.service.gov.uk/shortforms/form/NIStatement

    When you receive a copy of your record, you can then sign up to the "Government Gateway" to view your State Pension statement.p online.

    The number of "qualifying" years will influence how much State Pension you will receive at 66/67 etc. But, remember, until recently we were "contracted out" (and paid proportionately less in NI contributions). The result is that, like me, you might have 38 qualifying years on your record, but that might only "buy" 29 years of State Pension, leaving a potential shortfall. Best to find out where you are 'at" whilst you still have some time to address the issue before you get to 66/67.
     
    frangipani123 likes this.
  12. the hippo

    the hippo Established commenter Community helper

    Yes, but all of these arguments about government pensions, TPS and part-time jobs all focus on just one side of the equation: money coming in. What about the money going out? Could we please read a bit more about how to reduce your outgoings in retirement? Obvious "retirement wheezes" are to travel at off-peak times and look around for special deals. A friend of mine who lives in the UK sent me his shopping list, including some outrageous charges for fruit and veg, which immediately sent me to Google for packets of seeds!
     
  13. Alldone

    Alldone Established commenter

    This is my third year of retirement - and loving it. Ways to reduce outgoings. Few obvious ones such as free NHS prescriptions (never ill so not used yet!). Free eye tests. Reduced theater tickets for over 60's. Next year get state pension and free bus pass. Veg can be be cheap if you get those close to sell by date in supermarkets - wife gets these all the time (eg box of mushrooms reduced from £1 to 20p). She also grows a lot of her own veg - she gets seeds for the more exotic plants sent from her sister in Thailand. Biggest saving for us is being able to go off peak on holidays abroad - long haul flights especially are so much cheaper.
    I think you can get too carried away with trying to save money though - as my wife says, you don't know how long you have left, enjoy life and so we do.
     
  14. binaryhex

    binaryhex Established commenter

    Reduce outgoings?You have time to shop for bargains, and time to cook proper meals. Downsize the car. Downsize the house. Spend time making sure you get the best deals for each utility, each bank account you hold, each insurance you have. Get rid of junk on eBay. Off-peak holidays. You won’t use as much petrol as you aren’t driving to work. You won’t spend money on lunches and snacks, or work clothes.
     
  15. stopwatch

    stopwatch Occasional commenter

    WE find the search for yellow labels in Sainsburys at the end of the day quite entertaining (and rewarding!) and, with it being a 15 minute walk from the house, also gets us out exercising.

    ..... and the lucky dip/you don't know what you will get, aspect of it, adds to the fun

    Some would say it is a sad life - but I don't care - whatever floats your boat!!
     
    eljefeb90 likes this.
  16. Sharpie123

    Sharpie123 New commenter

    Can I join the Countdown? 60 in February and have just had enough. Never a better time to retire as an English teacher as they’re in short supply should I choose to pick up some temp work. Not a great pension ~ about £800 pm but my partner is already retired and between us we should manage. No idea what it will be like but ready to jump into the unknown.
     
  17. the hippo

    the hippo Established commenter Community helper

    www.auntiebulgaria.blogspot.com is where you should go, Sharpie123. You would be scraping by on eight hundred a month in the UK, but you could live very well on that sort of cash in Bulgaria. Send me one of those TES Conversation things if you really are interested in jumping "into the unknown" (and anyone else who feels so inclined).
     
  18. happilyconfused2

    happilyconfused2 New commenter

    So Exam Review done, open evenings done, autumn observation done, marking checks done, house points given out in the hundreds done, lunch duties done, break duties done, short reports done,data entered, data analysed, ****** target interventions started, competition entered and now it is the start of parents evenings!

    Got a full on bollocking today from SLT over a matter that I had very little control over. Why do I care? Not sure if I can last until end of summer. I may go at Easter.
     
    ikon66 likes this.
  19. 50sman

    50sman Occasional commenter

    You could go now - get signed off and either go at Easter after 4 months full pay and pension or go at the end of August with six months the full pay and two months half pay

    Remember if you are retiring no one will ever ask for your sickness record from your last job
     
  20. stopwatch

    stopwatch Occasional commenter

    Yes, I agree - take full advantage of the system - after all, that is what it has been doing to you for the last 40 years! If they are messing you about, take sick leave as late as possible and take the sick pay - then retire on a full package rather than retiring early just because you are being poorly treated.

    On a smaller level, I was 'not so good' on Thursday. I have almost never had a day off in the last 12 years and would normally fight my way in to work regardless (keep calm and carry on mode). I didn't this time - had the day off and spent time recuperating properly rather than in between lessons. Felt better for it.
     

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