Monday, 6 January 2020

My 2020 Goals



1.  Create a retirement plan to retire from teaching in 2021

I have decided that I will be retiring from teaching next year (2021) when I am 55.  I can access my teacher pension at 55 but it's not great due to years of part time working and taking it early lowers the payments.  I am planning to use some of the equity in my house to generate an income as well as doing a few other things.  I know exactly what I want and will be working on this all year.  Watch this space 😉

2.  Turn the extended part of my house into an Air B and B

I know I want to stay in this house but it's too big for just 1 person.  So, I'm planning to turn the extended part (utility room, shower room, study and family room) into a separate annexe and rent it out.  I live in a tourist area so there should be plenty of business.  Hopefully it'll be open by 2021.

3.  Save, save, save

I really need to stick harder to my frugal ways.  As well as creating an Air B and B, I still have 1 bedroom and a bathroom to upgrade.  I'd like to stick to a tight budget and reuse as much as I can.  I'd also like to have a safety net tucked away in my savings.


4.  Reclaim my back garden

The chickens have really trashed my back garden so either I re home them or create a larger enclosure for them and stop them free ranging.  Undecided on this one.  Either way I need my back garden to be lovely for people using the Air B and B.

5.  Stay fit and healthy

Keep eating well (definitely less meat and animal products) and exercising regularly.  No point in retiring if I'm not fit enough to do stuff!!

6.  Grow more fruit and vegetables

Now I have my allotment this should be easier this year.  I'd like to preserve as much as I can too.

7.  Work harder to reduce my environmental impact

As much as I enjoyed my 2 holidays I did feel a bit guilty about flying and the effect on the environment.  The bush fires in Australia have really brought home the fragility of our Earth.  I'm going to keep reducing my plastic use and try to simplify all areas of my life.  2020 will be my year of living more consciously.

These are my main goals for the year.  There are a few biggies in there but I have given careful thought to the direction I want my life to take.  I'll talk in more detail about each goal over the next few weeks and start putting wheels in motion.  Exciting times lie ahead!

19 comments:

  1. I don't think you can start planning retirement too early, it's a huge step to sort, and we have both found by tackling it early our mindset was ready when the day came to stop work. I think your list is much the same as many of us.

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    1. I'm really going to focus on the planning this year so that when it comes I'm fully prepared. Good to know my thinking is similar to others :-)

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  2. A really good list. I was a teacher and like you did many years part time so not a lot coming my way from that. I’m limping along in a low paid job until I can draw my state pension and the teaching pension will boost it a bit. I like your Air B and B idea. If I had the space I would definitely consider doing that.

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    1. Thanks. I know loads of people who use them and that's what gave me the idea. These rooms are unused most of the time so win/win :-)

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  3. Your goals are much more ambitious than mine! I mean, I'll be happy if I can clear our attic this year lol. I love retirement, I retired/was made redundant at 55 with only a small pension as I too had only worked part time and hubby was made redundant at the same time with a slightly bigger pension than mine but because we have no mortgage we manage fine on much less income than before. I think your plans sound brilliant, we used airbnb in Australia last year and it was excellent apart from the lady who owned the apartment didn't clear out her clothes from her wardrobe which I found quite annoying as we more or less had to live out of our suitcases because of that! Other than that it was in a perfect location right across the street from our son's home so it was great and worth the hassle of the wardrobe or lack thereof! Chickens are a difficult one. I'd love chickens but I don't want them to churn up my garden and hubbys not convinced the amount of work involved in looking after them in a coop is worth a few fresh eggs! Oh well, I'll just keep getting them from the fish van! I look forward to hearing about your plans in detail in the future. Good luck with your planning and decorating! x

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    1. Thanks! As much as I love having chickens they do come with some issues.

      Clearing your attic sounds like a great goal. Go for it!! :-)

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  4. An excellent start but I would suggest putting off retirement until you have a healthier pension in place. I waited until 65 and am happy I did so. Luckily I was still enjoying my job!

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    1. I cannot keep teaching, I will burn out. I work in a challenging area and there's so much I disagree with that the stress will just build and build. I've been there before. I've always known my pension will be small so I've always known I'd need to do something else. It's just that the 'something' else has been conditional on 'someone' else and I'm taking back control for myself :-)

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  5. It sounds all very exciting and I'm looking forward to reading about it all.
    I'm fortunate that I taught most of my adult life apart from time out for chilrden and a few years of part time when I went back into teaching so my pension is fine for me and my needs but I think your ideas are great. Very wise to take control yourself.
    xx

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    1. Thanks! I've finally learned that the only person I can always rely on is myself. I'm rather liking it! :-)

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  6. Hi Ali! I had a lodger, before AirBnB existed. It was a great help financially, as I'd had to reduce my hours of work for health reasons. Burnout was a factor.

    Long story short, I downsized twice after that and I'm now in a retirement flat near to the smaller Lidls in the city you and I inhabit. Those pesky health issues meant I just had no energy for gardening... so I have just a pot or two on my patio.

    So, retire before you burn out, and in the interim, look after yourself. Those viruses you've picked up are a red flag! Take it easy when you can, and replenish your energy with restorative activities regularly.

    I think your plans sound terrific. Re the hens, a friend had 4 in her garden, and eventually rehomed them and everyone is happier. The hens moved to the countryside, and my friend has grass again in her garden!

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    1. Hi Morag, you live VERY close to me then!! If you ever fancy meeting up for a coffee and a chat just let me know :-)

      My teaching friend who retired last year at 55 is thoroughly enjoying her retirement. She's not had one single bug/virus and looks amazing. She keeps herself very busy with a whole range of activities. I know I would be the same.

      Jury's still out on the chickens!! :-)

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  7. Sorry Ali, late to the party again! I have enjoyed your review of 2019 goals and the 2020 ones. I am sad your original future plans did not work out, and admire your taking control of that situation (so many people would just sit around feeling sorry for themselves!) If I had seen your plans a few years ago I would have said you were mad, but hubby and I had very normal jobs until 2011 but realised that we would be highly unlikely to fulfil our retirement plans, not least due to the increase in retirement age. Initially we were going to downsize house, but ended up selling completely and travelling for a year, with a view to see if we could settle at the end of that. However, we ended up working on campsites, living in our motorhome, and loving it. We have worked all over Britain, travelled quite extensively over Europe and because we never got round to settling (and really don't want to) we have saved quite a bit of money and managed to go to US and China over the last 4 years. I understand that most people need the security of owning a house, we still have a sizeable amount invested for when we have to settle, but would not change a thing. I was just under 50 when we made this change, and now at 56 understand your reasoning and say 'just go for it'. You will be resourceful enough to make it work, we sometimes take on additional work both within and outside the camping world and enjoy the change of environment; we live very simply (although our current employment comes with a lovely 2 bed bungalow for free) but our lives have never been richer. I shall enjoy seeing you put your plans into action.

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    1. Brilliant comment!!! Travelling around the UK in a motorhome is on my Bucket List.

      I'm not done working, just teaching. I'll be looking at doing something part time. I'm keeping an open mind. Thanks for the inspiration :-)

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  8. Your plans sound brilliant, and early retirement sounds like a mind-freeing plan. I love the Air BnB idea, if that doesn't work out you would always have the alternative option of renting the same space out on a more long term basis.

    It sounds like you have thought things through and come up with the right plan for your current circumstances. And yes, even though I love chickens if I were you I would re-home them and claim back the garden.

    I know it's really late but Happy New Year ... and it sounds like Happy New You :-)

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    1. Thanks, and Happy New Year to you too! I've thought long and hard about my future and what "I" want to do. I don't think I'm being too ambitious, everything feels achievable.

      Still working on the chicken situation though...

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