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uptherebels

The Plan

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In some ways, inspired by the Pancreatic cancer thread, and also, conversations at work. 

Some people seem to have a plan. I work with a few who do. Retirement to Spain, just as an example. Colleague has the place already bought, and being done up etc. Aiming to be there permanently, March 2018. That's been his plan for years. He'll be 60 at that point. Now, he and others are obviously aware that things change, stuff happens etc, that can ruin any plan. Nevertheless, they have one. 

I'm 57, and I don't. It's something I've never really thought about. Am I the only one?? To be honest, I wouldn't really know where to start. 

Do you all have a plan? 

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Since I am now recently unemployed, I had better find a plan.;)

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As you say, life has a way of messing up detailed plans, especially ones that look more than a year ahead. But I think it's a good idea to have a general sense of direction, where you want to be in say five years time, and some sense of what you need to do to get there. Otherwise you're just drifting on life's currents.

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42 minutes ago, MrPin said:

Since I am now recently unemployed, I had better find a plan.;)

That didn't last long Mr Pin.  No getting drunk and bothering the job centre people again.

Seiously, good luck with getting your next one.

 

I don't have a set-out plan.  There are plenty of things that I want to do when I stop work; most of which require me to be physically fit so I don't want to leave it too long.  That said I would miss work so I always have a big period of uncertainty in February (three months' notice - off in May for the start of the summer) where I have to decide whether I do another year.  This February was particularly bad but eventually I came down on one more year and then have another think next February. 

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4 minutes ago, Frank Hovis said:

That didn't last long Mr Pin.  No getting drunk and bothering the job centre people again.

Seiously, good luck with getting your next one.

 

I don't have a set-out plan.  There are plenty of things that I want to do when I stop work; most of which require me to be physically fit so I don't want to leave it too long.  That said I would miss work so I always have a big period of uncertainty in February (three months' notice - off in May for the start of the summer) where I have to decide whether I do another year.  This February was particularly bad but eventually I came down on one more year and then have another think next February. 

I left a sinking ship, and this cat doesn't like swimming.

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I guarantee there is not a single person out there actively planning for a miserable future.

We know that of those planning, many - the majority even, will in fact have a disappointing future.

This means one thing. These people don't have plans. They have dreams. Nothing wrong with dreams, so long as you recognize them as such.

 

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1 hour ago, MrPin said:

Since I am now recently unemployed, I had better find a plan.;)

Sorry to hear that, Pin! Or should it be congratulations?

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When I was at school, I think it was about 16 and near to doing my O-levels, I vaguely recall we each had to attend some sort of brief one-to-one session to talk career/personal plans - even those, like myself, who had already stated they were staying on post-16 to do A-levels.

I was asked what I wanted to do with my life, or something to that effect, and replied "make as much money as possible and do as little work possible earning it".  Needless to say the teacher thought I was being rude/cheeky until I politely out to him (albeit no doubt, knowing me, smart arsedly) I had faithfully and sincerely answered his question.

He then, out smart arsing me, pointed out that that my answer was an objective and not a plan.  :D

I'm sure that, being where I am now,  not being financially rich is down to that lack of a plan.  But I seem to have done alright and am content. So why bother with plans?

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Funny things plans.  If they're well developed they're okay, but more often than not they are just a single goal with a dogmatic path to that final goal.  That's all fine, I suppose, but those type of plans tend to keep on pushing forwards even when circumstances really suggests a change in direction would be best.

IMO you're better off with something that might be called a strategy, with multiple goals, set out with review and change when appropriate.  So, for example, I don't rate 'plans' that say 'I'll work at this job I hate for the next 10 years, and at that point retire to Spain when I will achieve happiness'.  I'd suggest that that approach might actually lead to unhappiness for much of life (as you don't even know if you'll like it in Spain; you only have a dream).  I'd say that something much more complex would be better (different goals, different time-horizons, regular review); say, if you're after a Utilitarianist you might go for 'maximum integrated lifetime happiness*' and change jobs earlier when the opportunity arises, even if this certainty of instantaneous happiness earlier (for more years) might reduce instantaneous happiness later (or delay the happiness change at retirement).

[I'll gloss over the 'minimising unhappiness of others' part as it'll just get in the way, but it would be fine if this was considered this in the strategy]

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2 minutes ago, Montecristo said:

6 months work and 6 months off in a sunny (cheap) country.  That's my plan starting next year.

sounds nice.  BUT does that involve owning a propert in each of those locations? or just renting?

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1 minute ago, Montecristo said:

Golden rule about living abroad.  Rent never buy.

Can get a place for £200 a month easy.

+1

You are taking the right approach.

The best solution for that kinda setup would be if you could swing a house-share at local rates. AirBnb is getting more expensive these days but on a western wage most of the world is open to you if you find one or two people to share a place with. I guess it's finding such people that is the struggle. There should be an online platform to put short term house share folks in touch. Would make medium/long term travel even cheaper.

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4 minutes ago, Montecristo said:

SE Asia, south and central America. 

I spent Dec and Jan in Thailand and the Philippines and that's what I spent on accommodation. 

Ahh. OK. Alas not my cup of tea. I thought for a mo you had somewhere closer to home in mind. 

Plus, don't forget, you'd have to include airfares and health insurance etc on top - so that will bump up the total cost a wee bit beyond it being just £200 a month.

Anyhow let's not get get sidetracked and stick to the thread topic of cunning plans. :rolleyes:

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Nothing too cunning here..  plan to build up a nest egg while the kids are still small then slowly start using it to do more of the things I enjoy.

Ideally I would want to have £1m in my pension by 55 and retire at that point to just do things I enjoy for a while.  I would also hope to have enough saved up to pay for that enjoyment and still leave my kids enough to get them started in life.

Presently I like the idea of sailing around the world a few times and just moving from port to port as I get bored.. as I get older that ambition may change. After a couple years of that I expect it would become too much like hard work and I will "properly retire" either in the U.K. Or Mexico where expect I will eke out the rest of my days drinking gin and watching the world go by.

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Having a plan is a positive thing, something to work towards, although nothing in life is certain and anything can happen..... having several choices, a back-up plan will help protect against complete failure.

So although there will always be doubts about what will happen or even doubt about what we actually want, faith in the future has to be the way to go.....I suppose we all help, by our actions to create our own futures. ;)

 

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I started working on my plan in late 2007 in place of buying an overpriced home in the South East.

Nigh on 10 years later I now have a fabulous family and enough wealth to never have to work again with the final step being a Med move in just a few short months.  Last decision to complete the plan is to decide Spain, Malta or Cyprus.  One more research trip to be done to double check some facts and we're ready there as well.  Then it's rent for (hopefully) a final 6 months in our new country to ensure it's home then it's time to buy.  Given the number of times I've moved for various reasons while renting I would be happy if they carried me out from that home in a box.

I sometimes have to pinch myself as I can't believe how fortunate I now am.  I need to thank overpriced UK property for my good fortune as it encouraged me to think differently with a plan B that subsequently became a plan A.

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17 minutes ago, libspero said:

...

Ideally I would want to have £1m in my pension by 55 and retire at that point to just do things I enjoy for a while.  I would also hope to have enough saved up to pay for that enjoyment and still leave my kids enough to get them started in life.

...

Be careful with that approach.  Make sure you are very aware of how the Lifetime Allowance works.  This might be helpful.

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42 minutes ago, Montecristo said:

Joe,

In these countries I mentioned you can walk into a small hotel and simply say "I want to stay for a month, what's your best rate".

I have heard people talking about the Trusted Housitter's website for what you are describing.  But you have to be careful as lots of these properties are in the middle of nowhere and you would need transport.

Had no idea you could do that with hotels - thanks for the info - though if it's a small family owned one it makes sense for them to be flexible on the price.

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Oh and aside from cheap rent I think this topic could well turn out to be one of the most interesting ones of recent years - been experiencing a bit of ennui myself recently and could do with some inspiration.

I'll type a 'proper' reply later this weekend when I get the time but for now I'll look forward to reading all your stories.

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1 hour ago, dgul said:

IMO you're better off with something that might be called a strategy

My interpretation of 'strategy' is that it is a form of long term planning taken from the military. In the heat of battle, when the situation can change moment by moment, being tactical is all that matters. Modern life is so messed up and chaotic that strategy is almost pointless. If you can remain flexible, and have good tactics, then that will get you further.

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Some interesting responses. I was not so much looking to see what people's plans are, though that's always interesting. More wondering what percentage of people actually have a plan. 

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