Can you, or will you be able to, retire and stop working?

I was hoping to be out at 65, but since I bought my house on my own two yrs ago at 55, and I live by myself (so no romantic 'drain' but also no co-contributor to the repayments), I think I'll now be aiming to retire at 70.

I already am no longer working full-time, so I'm on the slow downhill pathway to stopping working. 8-)

Sadly there are some people who can't or won't be able to stop working past their 60's or 70's, and a smaller again subset who don't want to stop working (my hat is off to those).

Fortunately I am in neither of those categories.

Employers do not generally value their employees and your employer (and management of said employer) are generally not your friend(s).

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Gusman · 61-69, M

I have retired at 63.
I do not own my home, paying rent at $18,000 a year.
Eligible for the pension in 4 years time.
That will cover the rent plus $10,000 more.
I have enough savings to see me through until I depart.
Simply decided that I no longer want to work, rising at 4am every morning, getting home at 4pm 5 days a week.
No more.

Sazzio · 36-40, M

@Gusman Do u still rise at 4am?

Gusman · 61-69, M

@Sazzio I often wake at 4am but it is almost winter. Sun does not rise until 7am so I roll over ad go back to sleep if possible. 🙂

Sazzio · 36-40, M

@Sazzio Yeah winter in Australia now. UK it's hot gonna get more in June to mid September. Then cold late September to about midway March.

zonavar68 · 56-60, M

@Gusman I'm a freight train driver - it's 24/7/365 shiftwork. No rest for the wicked.

Sazzio · 36-40, M

@zonavar68 Wha was your shift pattern like? I work on a Panama / pitman shift pattern on a 2 week timetable.

Gusman · 61-69, M

@Sazzio Today was a most perfect day. 23C - 74F. Cloudless day. 🌞I spent the day sitting on the banks of the Mandurah Estuary watching nature go about it's business. 🙂

Gusman · 61-69, M

@zonavar68 Any chance of retiring early?
Those hours can be brutal as we age.
Your trains have a dead man's switch?

zonavar68 · 56-60, M

@Gusman I bought a house 2 yrs ago. 8-) What would 'early' be? 60 would be nice (4 yrs to go) but realistically it'll be 70 (14 yrs to go). Depends how the home loan tracks as interest rates change over time. I'm ahead, but not by a lot. On the locos no DMS but a timed vigilance control requiring input within a fixed (or on modern, variable) timer winder. Pass trains have a mix of DMS in the master controller and/or foot pedal panel under the control desk.

Gusman · 61-69, M

@zonavar68 Yes, buying a house so late will see you need to work longer.
I looked at my situation.
15 years paying $20,000 equates to $300,000.
Pension for 11 years at $30,000 equates to $330,000
I think I can manage to live to 78 without going broke.
My savings will see me keep my head above the high water line.
If I was evicted then I would buy a campervan type set-up and travel around this vast country.