Posting on behalf of a (real) friend.
He is 54, has 90k in savings, no mortgage, no kids and a pension from his p
revious employer of around 5k a year.
He reckons he could take redundancy from his current employer (£4k), "
retire" and live off of the savings and pension until he hits 67 when he ca
n start drawing the State Pension.
He says he and his wife will cheerfully cut back on non-essentials (second
car, for example) and it'll work.
If the going gets tough between now and 2030 he says he'll go and sit on th
e checkouts at B&Q a couple of afternoons a week.
Sounds a great end to a working life but I've told him it isn't going to wo
rk......except, I can't quite quantify *why* it won't work.
- posted 2 years ago