Quitting work and retiring a bit early.

[HenryDorsetCase]

When I was discussing options with the bank manager prior to retiring reverse mortgages came up. He said that problems were such that the bank was then considering not offering them anymore. People were living longer than they expected meaning the house may be sold out from under them. Anyhoo the bank doesn't offer them anymore.

Its for the same reason that a lot of the rest homes (sorry, retirement villages) don't open to people under 70 now.

[Moi]

Two thoughts...

First, something told to me when I made it known I was retiring at the end of the year: go through how you pay for weekly, monthly and yearly expenditure? Such as weekly groceries, monthly expenses like mobile phone/internet etc and yearly such as rates, insurances and vehicle expenses. Go back at least 2 years, preferably 3 or 4 and get a good idea of your expenditure. Will your retirement income cover all of that and with some left over for whatever?

Second, have you looked at what Mary Holm - she writes in the Saturday edition of the NZ Herald - has to say about retirement? Have a look at her website: https://maryholm.com/

[Grumph]

Its for the same reason that a lot of the rest homes (sorry, retirement villages) don't open to people under 70 now.

Yeah, they get their bonus income from turning the units over. If they're occupied too long income drops.

Last week i ran into a well known ChCh motorcycling identity who looks like he's just stepped out of his leathers....

The bastard's 93. Even now,no rest home would have him. Probably good for a ton plus.

[husaberg]

Yeah, they get their bonus income from turning the units over. If they're occupied too long income drops.

Last week i ran into a well known ChCh motorcycling identity who looks like he's just stepped out of his leathers....

The bastard's 93. Even now,no rest home would have him. Probably good for a ton plus.

Must be all that chlorine you cantabs insist on putting in the water, looks like trump was right about the bleach...

[Kickaha]

I'm just looking at this, made redundant in November at age 60, ideally I need to work at least a couple more years but I have a house on the coast I'm going to look at buying and if I sold this place and buy that I'd walk away with enough in the bank to be able to do it until the pension and kiwisaver comes through and still live an ok lifestyle

I don't really need the social aspect as I'm quite happy to sit home all-day reading, on the computer or in the garage

I haven't really investigated the employment market on the coast to see what options are there as I've been too busy riding bikes and being an unemployed bum for the first time since 1986

[husaberg]

I'm just looking at this, made redundant in November at age 60, ideally I need to work at least a couple more years but I have a house on the coast I'm going to look at buying and if I sold this place and buy that I'd walk away with enough in the bank to be able to do it until the pension and kiwisaver comes through and still live an ok lifestyle

I don't really need the social aspect as I'm quite happy to sit home all-day reading, on the computer or in the garage

I haven't really investigated the employment market on the coast to see what options are there as I've been too busy riding bikes and being an unemployed bum for the first time since 1986

Pretty much only those that don't want a job here don't have a job here.