Early Retirement. ..

by Scared
(England)

I have just been offered VR (voluntary retirement) which I have wanted for 5 years now, why am I now having second thoughts, because it is my decision I am absolutely confused and depressed...

I earn 30,000 plus but have been offered 10,500 year pension plus a lump sum of 50,000 taxable at 55, should I go?


Wendy's two cents: Dear Scared,

It IS funny... when you WANT to retire, you (and most young folks) say YEAHH.. LET ME OUT! When you are suddenly eligible to walk away, it's downright scary! I know, I hear you....

I'm curious... how old are you? In England, what taxes will you pay on $10,500 per year, compared to $30,000 working wages less taxes? Can you make it on the monthly income less taxes? If you still need to work longer, how is the employment situation? Are there opportunities for you, or is your skill/job limited? Finally, what will you DO all day if you retire?

It's not necessarily a BAD idea.. just lots to consider! The world awaits you.. lots of new opportunities to consider! Fun Fun!