Autumn Newsletter 13

To SERP or not to SERP that is the question!

The opportunity to take a Special Early Retirement Plan doesn't occur very often, so when it does, it's seriously worth thinking about.
The trouble is when I found myself in this position it just raised a lot of concerns. Could I really afford it? Could I expect to go any higher in the company? What if this or that happens? Would I need to get another or a part time job? What was needed was a whole stack of financial information and a spreadsheet. A chat with a good independent financial consultant also helped. As the options were explored affordability issues started to be resolved.
Learning about retirement is a whole new ball game. Retirement is something I've always sent other people into. It's something for which I had to prepare a short speech, usually outlining the career of the person in question to deliver at the inevitable party… and then start interviewing for a replacement. I hadn't planned to retire for a while yet but having said that I've done it, the offer was just too good to turn down.

From the outset Lyn was very supportive but Abby and Noel were horrified. I think it made them realise they were actually older than they'd wish to be. Noel, being very practical, muttered something about not having a pension of his own.
Thereafter followed one of those father/son chats. It went a lot better than the first father/son chat I had with him. I seem to remember that one ending when he said something like "Mum and you don't still do things like that. Do you? That's disgusting!" Young people's sensibilities are so easily bruised. To cut a fairly short story even shorter at the end of June I walked out of Farnborough a free man and my feet haven't touched the ground since.
Whether I shall actually retire 'full time' I'm not yet sure about yet. Strangely enough the one thing that I thought I would be doing more of (i.e. sailing) is the one thing that I haven't found time for yet. I've really got to do something about that! One thing I am sure of. After talking to friends who have already retired, I think I'm more likely to end up with less, not more free time. They all said that there was so much to do they couldn't understand how they ever found time for work. I hope they are right.

Mike (Man of leisure … Not!) Baker