I am taking a break from the Budget pieces today. I am inviting views on retirement.
Some people eagerly await retirement. They seek early retirement. They like the idea that they no longer will have to rise early and get to the office, shop or factory.
Others fear retirement. They fear they will miss the company of colleagues at work, the routine, the sense of achievement – and the income that comes from it. They are trying to extend their time in a job.
Both groups face the same problems when they do decide to retire, or when their employment is terminated for them. They have to find ways of spending the time agreeably and usefully, within the budgets that their pension permits. There seem to be four broad approaches.
Some choose to travel and visit to the full extent that their budgets allow. They go on cruises, coach trips or mini bus outings. They visit old buildings, take trips to entertainments, see countries they had not seen before.
Some take up a new leisure activity. They become leading members of the golf or bowls club, join a book circle or learn a craft at an FE College.
Some seek surrogate work. They often end up doing something similar to what they did when in full time employment. Sometimes they are paid modestly, sometimes they do it for free for a charity or local association .
Some do very little. They end up occupying themselves with the daily chores, and lots of tv, newspaper reading and the like.
Many of course mix up parts of all these approaches.
Do you think there is a right answer to what to do in retirement? Have you retired yourself, and how do you spend the time? Do you want to retire early? If so why?
PS I am not planning to retire early myself.