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Wind-down activity for later in my life

Looking for suggestions as to what I can do later in life closer to retirement

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Hi all

Employed my whole life so far, always in tax.  Enjoyed it less and less each year until a few years back when I decided I was done, but couldn't find a career to transition into (stupid high costs of University coupled with too many grown up responsibilities).

I shifted jobs to see if it was just my employer that had driven the desire to tax out of me, but I'm here again wondering if a career change is possible.  I've decided not, best to put my head down and plough through the next god knows how many years, but in the interest of getting a light at the end of the tunnel to look forward to, I'm wondering if, when I'm older and have less need of money in the run up to retirement, I could shift into something else then in a 'I don't have to rake it in, just keep the lights on' way.

Obviously you don't know me, but what would you do if you just needed to have a low stress income stream that brought in a bit of money for food and heat?  I need to find a passion that I can earn a little from I suppose, something I ruled out a few years ago for not being enough to support my household.

All ideas welcomed!

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By memyself-eye
09th Jan 2021 11:14

I'm packing it in too in March - though not as an employee (closing my company instead).
I've thought about what to do and realised that no one would employ me at 66 years old and that I would not accept the nonsense that goes with being told what to do - at any level. That leaves a) voluntary charity work which seems like employment on the cheap for charities that should not really exist (my view is that there are way too many charities). Besides I'm already a trustee of two and that's enough. You might look at that however
or B) a hobby of some sort. I already have two though - classic cars and a narrowboat so probably don't want another.
Then there's C) spend more time down the pub - when they reopen. This sounds appealing but comes with dangers, so not that one either. What about D) more holidays? (when they reopen). If you have the money, the time and the health then definitely do it. I will be constrained as my wife is undergoing cancer treatment but we've done a lot of travelling in the past so won't be too bothered
about that, anyway the canals of the UK await. E) Another possibility is apply under the government's public sector appointments web page - Various government "quangos" are always looking for part time board/trustee etc members. Some are paid. It's normally a set number of days per year and is at least a new challenge.
You could try
E) grandchildren (if you have any) they can be great fun, you can hand them back , and remind their parents how difficult it was raising them! Beware becoming JUST a free childminder though (moving house and not telling anyone gets around that one...)

These are just a few thoughts.

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Replying to memyself-eye:
Scooby
By gainsborough
09th Jan 2021 12:22

Enjoy your retirement me-myself and hope your wife's treatment goes well.

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paddle steamer
By DJKL
09th Jan 2021 19:43

Good luck and best wishes to your other half.

I re hobbies am turning into my father, gardening and model trains (gardening was before just a chore) now go with the one I had already inherited from him, fishing, and of course I still have the 1987 not very classic Scimitar SS1 (in pieces) though his interest in car mechanics (any mechanics) was non existent and I still cannot master crosswords which were one of his passions.

I also have reading but not sure that is a hobby, I have been devouring books since I was a child so it is more a vocation.

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Scooby
By gainsborough
09th Jan 2021 12:06

Teaching tax is an alternative - although the off-payroll rules have definitely cut down the freelance teaching work available, so part-time or casual employment might be offered instead. Or, if teaching not your cup of tea, the professional bodies are often looking for markers.

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boxfile
By spilly
09th Jan 2021 12:55

Exam invigilation could be a useful source of extra income when they restart. And art schools often like older models for life-drawing classes if you are not a shy and retiring type.
If you like children then what about school crossing patrols and pupil journey facilitators (you accompany a child with special needs to and from school)?
Or what about being a Parish Clerk? Usually a few hours each week plus meeting attendance. I believe you can also get a qualification for this too if you wish.
And finally, Citizens’ Advice might be able to make good use of your tax skills, but there is some training to do first.

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By I'msorryIhaven'taclue
09th Jan 2021 13:27

It's always nice to have something on the back boiler, bubbling away ready for the day you throw in the towel on the second oldest profession.

Stress-free? So there's always consultancy. But if, in the immortal words of Monty Python's link, you are looking now for something completely different, then I'll share with you my shortlist of fun things to learn; all of which I imagine will be in demand post-covid, by paying customers. (For which, btw, you won't necessarily need a university degree; although for some of which more specific training & qualifications may be the order of the day.)

1. Financial modelling:
Have a look at the FAST website https://www.fast-standard.org/the-fast-standard/ and in particular their downloadable bible-brochure "FAST standard". It's also interesting to compare and contrast ICAEW's unrelated attempt to introduce its own modelling standardisation in their downloadable pdf brochure available at https://www.icaew.com/-/media/corporate/files/technical/technology/excel... Tempted?

2. Behavioural coaching:
Everything from body language to semantics to base-lining. Go see The Behaviour Panel- Chase, Mark, Greg, and Scott - at https://www.icaew.com/-/media/corporate/files/technical/technology/excel... for a taster. Fascinating and potentially lucrative!

3. Proof-reading:
Ok, I don't have any specific links for this, but a cursory google will tell you that there are already many proof-reading freelancers out there for books, documents, and the like. And it doesn't pay much. But if you happen to enjoy such forensic work and if English language is your strong-suit, then there's a more lucrative market out there for website proof-readers. I gather there's a little more to it than just applying grammar: style and tone, for example, play a part; so occasionally you must overcome your OCD and roll with incorrect grammar, in the interest of maintaining the site's overall pitch. Get the idea?A good starting market would perhaps be all the professionals, accountants included, who think they are proffesionals; or who aren't entirely sure whether they're in practice or in practise. Easily googled. Then mug up on eg whether to use which or that in restrictive and non-restrictive clauses, and watch them extend your web editing contract to reading over their correspondence, not to mention coaching them in business English.

There! Hopefully that'll get your ball rolling, so that even if none of the above tickle your fancy then they might at least get your thinking juices flowing. If not, then I'm afraid your choices will be limited to the second oldest profession (or, for that matter, the oldest).

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By zebaa
09th Jan 2021 13:46

First decide if you want to just do something just a bit, or a lot, different. And if it’s to gain another source of income. Different in small way could be charity work involving tax. For example, elderly people or self employed in financial difficulty. To expand on that theme, volunteers are always need to help people navigate the benefit system. If money is important you may think about self employment yourself in some special area of tax, like property or vat.

Or perhaps go for a total change. Train in one of the building trades, for example. Joinery is possibly the easiest to get into bit-by-bit, with the materials – wood – readily accessible and not expensive. I think of ‘wet’ trades ( bricky or spread ( plasterer )) as a young man’s job, but it depends on just what you want. Pipe strangling ( plumber ) or sparks usually needs technical learning but DIY books offer a taste of what’s involved.

You are not limited to either of the suggestions above – and you can consider all sort of things that will be the best fit for you. There is a whole world out there.

In the end it’s your choice. The only other advice I offer is DO make a deliberate choice. All too often choices are made by default, where nothing is done but time ticks on. I wish you the best for whatever your new future holds.

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RLI
By lionofludesch
09th Jan 2021 14:20

There should be plenty of low-grade bookkeeping work on offer once MTD kicks in.

It's not for me. I'm retiring to get away from that sort of nonsense.

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By sanjay100
09th Jan 2021 15:36

I keep coming across client making easy money just selling on Amazon or Ebay or other selling platforms for not much effort. Everyone can sell. Only last week I came across someone last week just started less than one year ok its only £25K turnover with 12K profit but thats a good start.. He is selling on facebook to people overseas.

If you do go down the route sell something that you have a genuine interest maybe something connected with a hobby. You can test the waters by selling a couple of items and go from there.

Selling has no stress though occasionally you will have to deal with unhappy customers but thats the most stress you will ever get. Good Luck

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By I'msorryIhaven'taclue
09th Jan 2021 18:22

I imagine returns are stressful.

I've a few marketers on the books who have / are in the process of exiting. I gather the selling fees are prohibitive, not just with Ebay but also with even more expensive outlet channels such as Not on the High Street. And, for many, supply lines have dried, what with charity shops and car booties having become something of the past.

For which reasons I foresee services as a surer option rather than tangible goods.

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paddle steamer
By DJKL
09th Jan 2021 16:57

It all depends on other income and your ages, so step one is look at pensions, savings and your age, I always reckoned I wanted £35k income a year, to be mortgage free with £100k cash which was not needed to contribute to our income, whilst with our state pensions we are there until we get to 66 we would be short. (assume 4% income from SIPPs and ISAs)

I suspect I am slightly older (60) but once kids finished university ( a good £60k I spent on their rents/other costs) I moved to a three day week, having said that I have a circa £10k contribution to a wedding reception to pay once Covid permits and no doubt the other will in due course seek equity, so "demands" will likely continue, on the plus side my older one now earns more than me so if he wants to buy a house in the States that will be his problem, but daughter may, once she is fully qualified, need a deposit contribution if she returns to Edinburgh.

If mortgage free the basics are to add up food, H & L, house insurance & maint costs, car costs if one is needed, TV, broadband etc and see what it comes to, I tend to look at it every year or so and calculate if I am happy our current pensions will be enough (wife's occupational one now available as she is > 60, mine is a SIPP plus an AE so no real issues taking given my age). Whilst they certainly will cover that list the headroom for foreign travel, replacing car, maybe needing to visit the States in future if we get any grandkids there, subs to kids etc currently keeps me in harness.

One way I make things easier is to take each bit of the future in small chunks, I currently have committed to my employer until I am 63 (2023) and will decide in mid 2022 if likely to extend(we have to give one another a year's notice), so the decision boundaries are not distant, I have also applied for an allotment near us which has a circa four year waiting list as I enjoy gardening but our garden is pretty small and these days designed to sit in and ponder the universe, I suspect I can grow quite a bit of our food bill.

Regarding other occupations once I do retire, I may buy, repair and sell toys on e bay, but doubt this will make much, the key is I do not want to be tied, if I want to say visit the states for a couple of months I want the flexibility, us both having started our pensions in our mid twenties we want to enjoy ourselves so being tied down with another job does not appeal(though having to always take our holidays during the school holidays is a pain, but not keen on my other half retired and my still working, that would give her far too much time to think about jobs for me to do around the house)

Sorry cannot specifically make suggestions for you, but my advice is think about what you like to do with your time and do not jump until you are sure you will have the income needed (two/three years out likely will result in a drop in earnings if you do need to return to work).

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By lionofludesch
09th Jan 2021 17:07

Ah yes - your pension fund is never as big as you think.

Our conversation with the pensions fella was something like ....

"How much will you want a year ?"

"Well, taking into account state pension, £2000 a month will be grand."

"How long will you be needing that ?"

"The doctor said 2032 but I'm a little bit more optimistic. Say 20 years."

"So you'll need half a million, then ?"

Suddenly the numbers seem very big.

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paddle steamer
By DJKL
09th Jan 2021 19:23

Yes, why I manage my SIPP as a quasi income generator but not withdrawing the money just yet, I can then see what dividends it earns and base what I can likely remove from it on its earnings, my calcs assume £35k-£16k state pensions leaves £19k, £19k @4% needs £475,000 in other pension funds etc (actually as my other half has a defined benefit scheme simpler with hers, just deduct her pension from the £19k and apply 4% return to resultant re my SIPPs)

Now the risk is if either of us dies we lose one state pension and whilst my wife will see no downside with my demise (Apart from light bulb changing) , if she goes first I also lose half her pension (only 50% to widow/widower), then again if that happens I will likely sell up the house and downsize.

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By I'msorryIhaven'taclue
09th Jan 2021 19:35

Well the degrees certainly don't come cheap, do they! I'd imagined somehow that Nicola had fixed up all of your sprogs with free university education; although clearly not.

I like your model enthusiast idea. I have a Hornby-Triang enthusiast client on the books who makes more in a single double-0 sale than you and I make in a week (alright, a day then - but you'll appreciate the idea nevertheless that's it's quite lucrative).

When I turned out Dad's Aladdin's cave of an attic a couple of years ago, upon his expiry, I was astounded to find not only our many original Scalextric sets but also our sixties' Subbuteo sets, baize pitch et al. Sentimental old sop, he'd kept the lot! Do let me know if you follow through with toys, DJKL, as I'll offer you an Aweb friends' discount.

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paddle steamer
By DJKL
09th Jan 2021 20:00

The catch with the degrees was the loans, they were wholly inadequate, when my son departed to St Andrews for his first two years the max loan was about £985 a year, even when they stopped means testing parents it was only about £4,500.
My son's room rent up there was £390 pm (he would live in a quasi slum) but my daughter's was circa £490 pm, so the deal was we paid all rents (five years for him four years for her) plus other monies were passed over, so back of an envelope, including her Msc afterwards (at least in Edinburgh so only £250 per month travel/clothes/going out ), we reckoned £60k from us and £11k and £18k student loans taken out by them. (Which I expect she will want a contribution towards as he borrowed less due to the early years max loans but we paid out more for him

Even grown up kids are like small ones, he or she moaning the other got more Christmas presents.

Have to go now, Sunderland are kicking off, three line whip to watch, the toys I go for tend to be older trains (especially Hornby Dublo/Wrenn/Hornby O) Meccano etc (though have a fair bit of Triang as well). Have just bought an older Marklin loco (arrived today) to work out how they work re electrical pickup from either above or track pick up from wheels. (Well I did start out doing a BSc in Electrical and Mechanical engineering and via a humanties degree somehow ended up in accountancy, so returning to my first love)

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By lionofludesch
09th Jan 2021 23:34

I'msorryIhaven'taclue wrote:

Well the degrees certainly don't come cheap, do they! I'd imagined somehow that Nicola had fixed up all of your sprogs with free university education; although clearly not.

I like your model enthusiast idea. I have a Hornby-Triang enthusiast client on the books who makes more in a single double-0 sale than you and I make in a week (alright, a day then - but you'll appreciate the idea nevertheless that's it's quite lucrative).

When I turned out Dad's Aladdin's cave of an attic a couple of years ago, upon his expiry, I was astounded to find not only our many original Scalextric sets but also our sixties' Subbuteo sets, baize pitch et al. Sentimental old sop, he'd kept the lot! Do let me know if you follow through with toys, DJKL, as I'll offer you an Aweb friends' discount.

Pre-1978 Subbuteo can be very valuable in good condition.

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paddle steamer
By DJKL
09th Jan 2021 23:41

The catch is the player's knees (applied to the players), we still have my wife's teams from back then, Celtic, Leeds, AC Milan and a couple of others, but I doubt any are fully intact, they all seem to have at least one player who has had an ankle injury.

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By lionofludesch
10th Jan 2021 10:32

Sadly, all pretty common. What you need is a green Plymouth Argyle or a chest-banded Crystal Palace.

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paddle steamer
By DJKL
10th Jan 2021 14:21

Subbuteo teams tended to have regular metatarsal injuries well before Wayne made them a household word.

I do actually have a more recent incarnation, a board with a border with a pitch glued down to it that I made umpteen years ago for the kids one Christmas, sadly they preferred FIFA so it is sitting in the library /study on its edge gathering dust.

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By Gone Sailing
10th Jan 2021 12:27

What if you painted the Spurs team of 1970 with all their respective hair styles?

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RLI
By lionofludesch
10th Jan 2021 12:34

Ah - a repaint.

Lessens the value.

No - only the slap-dash style a Seventies Kentish House Wife paint job will do for the purist.

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By I'msorryIhaven'taclue
10th Jan 2021 18:03

My teams are all 'sixties made - I want to say they had stronger ankles back then - but it was the baize pitch that I liked. Like a billiard table. Later on, in the 'seventies, the pitch went nylon/rayon (there's one of those there too, from my younger brother's set). V poor for weighted passes, and expect the occasional static shock when you try getting away with a scuffle.

Jim Clark edition Scalextric has pre-aerofoil F1 cars, and a BRG Austin Healey with a White Sports Mercedes from another set. And two Mini Coopers. Over Christmas Son #2 learnt how to solder - a couple of the throttles had loosed their connections to their (armature?) cards. Which I enjoyed, because he's an MEng who'd never used a soldering iron; and who spent the afternoon trying to evaluate the speed gain from unwinding the (armature?) card and rewinding it with the copper wire shortened. Dad knows best!

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By lionofludesch
10th Jan 2021 18:15

I'msorryIhaven'taclue wrote:

My teams are all 'sixties made - I want to say they had stronger ankles back then - but it was the baize pitch that I liked. Like a billiard table. Later on, in the 'seventies, the pitch went nylon/rayon (there's one of those there too, from my younger brother's set). V poor for weighted passes, and expect the occasional static shock when you try getting away with a scuffle.

Are they the ones with the slightly bent knees ?

The nylon pitches didn't last long, what with them being cheap rubbish, and they moved to the Astropitch, which was more of a flock-based surface.

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By I'msorryIhaven'taclue
10th Jan 2021 18:49

Yes, knees slightly bent, so they look a bit like Tommy Smith. And with weighted bases - I seem to recall metal O-rings were used back then. Lord knows what might have superseded those.

We were the only kiddies on the block with a sufficiently sized extending leaf dining table, and a table-topper to which a baize pitch could be ironed. Perfecto, and ideal on rainy days for us street urchins (except I don't recall too many of those back then. Not like nowadays, anyway. B*gger, I'm turning into my Dad!).

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By lionofludesch
10th Jan 2021 19:34

Yeah, they're the most collectable ones.

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By Gone Sailing
09th Jan 2021 18:01

Don't we all have something we wished we'd done instead?
What is the 'Sliding Doors' moment?
Mine is cartography, Weird Eh?

A worrying post though, who's going to help me when you all swan off?

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By I'msorryIhaven'taclue
09th Jan 2021 19:10

I once had an ocean cartographer colleague who had moved sideways into accountancy training, having already completed his ocean cartography degree only to discover he suffered from acute seasickness.

Is that you, Pete?

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By Gone Sailing
10th Jan 2021 12:29

@ I'msorryIhaven'taclue
No, sorry!

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By I'msorryIhaven'taclue
10th Jan 2021 18:53

A shot in the dark. But thanks for saying so, anyway.

I didn't really think so, as Pete's nom-de-plume would have to have been Gone Accounting.

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paddle steamer
By DJKL
09th Jan 2021 19:32

I used to know one of the Bartholomews (the map family) when I was at school (though I think he was a Watsons or Heriots) but for the life of me I cannot now remember his first name, Freddie maybe.

Have you read "The Mapmaker's Wife" given your interest?

You would get on well with my work colleague (A surveyor), he collects old maps of Edinburgh, we also have a fair few in our office, it is fascinating, as developers, to be able to follow what was on particular sites on particular dates. (I just pointed out to my other half that the offices on Orchard Brae, built when I was about ten (I played soldiers on the next door site whilst it was being built) is now for sale for development, wonder what will replace it (probably flats)).

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By Mr_awol
10th Jan 2021 10:18

I always thought if I semi-retired then teaching would be an option. A lot less pressure, decent working pattern/hours, money and pension very good compared to the effort involved.

Now I think just keep going and then collapse at the end.

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By Gone Sailing
10th Jan 2021 12:31

"A lot less pressure, decent working pattern/hours"
When was the last time you spoke a teacher?

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By lionofludesch
10th Jan 2021 12:46

Agree.

Teaching's not an attractive option.

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By I'msorryIhaven'taclue
10th Jan 2021 19:05

Son #1 is a secondary school teacher, and it's harder work than you might imagine. Lots of midnight oil burnt marking papers, and as a junior member of staff the Head never failed to sign him up each year for school trips during his Easter / half-term / summer hols. Net result was pretty much the same five weeks holiday as the rest of the populace.

And it's not as stress-free as it's cracked up to be. The kids ran rings round him - he's more an academic than a teacher, but his Durham maths degree tends to open doors on both counts. They once pinched sir's car keys for an entire week, which in turn led to the caretaker (the only suspect) keying his car for having left it overnight in the teachers' car park. All the more worrying to know that this was at a leading boys' grammar school.

His advice is to avoid teaching.

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By Mr_awol
11th Jan 2021 12:11

Gone Sailing wrote:

"A lot less pressure, decent working pattern/hours"
When was the last time you spoke a teacher?

I know several. Family members have been teachers all their lives - mainly secondary schools, working their way to Head of Year, Head of Department, one AST (now retired) but admittedly none of them have gone on to Head or Deputy Head roles.

Living around them gives you a much better insight than just speaking to them.

It is time consuming at the outset in terms of lesson planning etc but once you have the experience and bank of lessons already mapped out that reduces dramatically. Marking generally takes less time than the (cash in hand) private tutoring they do so cant be that onerous.

When i was training (at a fairly demanding firm) i used to have a little smile to myself when they were coming up to ofsted inspections. They felt the pressure of having everything they did scrutinised even though they were putting in 'free' additional hours in the evenings was an example of how difficult their profession was over any others. For me it was just another day, and at least they didn't have to complete a timesheet to justify how they'd spent their day!

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Quack
By Constantly Confused
10th Jan 2021 14:30

Thanks all, read chunks and will finish up later :)

FYI, no kids and no chance I'm having any. Also I'm reasonably young and never been well paid, so I'm expecting a pension of... well, actually I'm expecting next to nothing, so I'll be pleasantly surprised whatever I get. If I get over £20k a year I'll be amazed.

Teaching has often appealed, but while my mind works well most of the time, and my written skills are comparable, my verbal abilities can be lacking. I've asked the ATT multiple times if I can mark and they either fob me off or ignore me.

Maybe later in life I'll be more persistent.

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By Constantly Confused
10th Jan 2021 20:32

Out of curiosity, does anyone know the coding language used by IRIS/CCH what have you?

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By I'msorryIhaven'taclue
10th Jan 2021 21:47

Constantly Confused wrote:

Out of curiosity, does anyone know the coding language used by IRIS/CCH what have you?


Why so?
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Replying to I'msorryIhaven'taclue:
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By Constantly Confused
11th Jan 2021 09:19

I'msorryIhaven'taclue wrote:

Constantly Confused wrote:

Out of curiosity, does anyone know the coding language used by IRIS/CCH what have you?

Why so?

I'm going to learn to code, might as well do it in a language that might feasibly be of use to me later!

I once got headhunted to a job (which I declined) working at one of the tax software places as, in their words:
"Programmers are 2 a penny, we need someone who knows what the software should be doing and who we can teach to code - easier to teach a tax professional to code than a programmer the tax system!"

Not saying I've had a change of heart, but a potential sideways slide.

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By lionofludesch
11th Jan 2021 09:33

Constantly Confused wrote:

"Programmers are 2 a penny.....

Below minimum wage, then.

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By DJKL
11th Jan 2021 13:39

You want languages that have life in them and will likely endure, or at least the next incarnation will be based on them.

I can ask my son but he will likely just say the decent money is in the software design not in the actual programming.

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Replying to Constantly Confused:
By Husbandofstinky
15th Jan 2021 12:24

Constantly Confused wrote:

Out of curiosity, does anyone know the coding language used by IRIS/CCH what have you?

Create a decent accountancy/tax package and sell yourself to Satan (when one of the big boys comes with an offer too good to refuse).

Seems to happen all too often

Realistically, I think if I needed a bit of spare cash in that transition between working and retirement I personally would go with gardening and dog walking for the local Mrs Miggins et al.

Hopefully not too much though that it becomes a chore. Exercise, enjoyment, some money coming in and a bit of self fulfilment that you are helping and not ripping off the local elderly.

Still plenty of years to go (but not too many) and I really do feel that other income (rental and pensions) will be more than enough to cover our modest life styles anyhow. Started pensions at 18 and have been consistently paying decent chunks in there since (10% pa even in the early days but more so now)

One thing I have learned personally is that I do not think you need as much income as you think. Both parents combined pensions are less than £30k gross all in. Modest lifestyles and holidays and savings still remain untouched. All depends on masses of factors though, lifestyle, where you live etc I know.

Regularly I ask older clients and the general consensus around here is about £2k per month joint for a modest level of retirement locally. Masses of caveats and factors too obviously.

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paddle steamer
By DJKL
15th Jan 2021 17:21

Agreed, £2k post tax possibly does it but holidays, new cars and replacement garden sheds may make that somewhat tight without savings.

I think our current mortgage takes £2k gross income to cover at my marginal tax/NI rates, when that ceases (hopefully this year) then if I was not paying it, pension contributions also stopped and we dropped back to one car rather than two, there would be a bit of spare money out of £24,000, food etc £5,000 (inc drink), Power £2,400, Council tax £2,500,insurances £2,000, MRE £2,000, TV/Cable £1,700 still leaves a little headroom, but not that much, especially if hobbies/clothes, repairs, memberships of clubs required, I always reckoned on £2,750 per month net as enough for some decent foreign travel and all the bits I have not even mentioned.

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By lionofludesch
15th Jan 2021 17:45

It's easier in Yorkshire as we're not used to spending money.

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By Michael Davies
15th Jan 2021 10:47

I did some invigilating for two local schools and also signed on for a local private school.Sign on for say two or three local schools and it’s better if you can walk there to save on fuel costs.This is very much seasonal work, and most state schools are very tight on budgets.The pay varies but generally around £10 an hour,if you can walk there make sure you are not fobbed off with less than 2 hour daily sessions.My best months were around £500 a month net,usually however far less than that.The private school threw in breakfast and lunch.The big downside is the work is incredibly boring.However the state schools were an eye opener,with pupils arriving at exams without pens,calculators etc.
I also acted as secretary to the school governors.This turned out to be the worst job ,I have ever had,due to the school politics and infighting.

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By M Bell
15th Jan 2021 12:09

Ha ha I was in this situation a couple of years ago - decided to do some book keeping to keep a bit of income coming in - am currently busier than I have ever been ! As soon as people find out that you have 40 years accountancy experience, they find extra work for you to do, particularly because their accountants are slow to respond or don't have the time to do things straight away for them. If you go down this route, keep quiet about your past lol !!

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By David Gordon FCCA
15th Jan 2021 12:59

A)
Get yourself a rich uncle with no other apparent heirs!
B)
Otherwise, taking 2020 into account, just do what you know for a few hours sub-contract per week.
And join the University of the Third Age.
C)
Through nearly sixty years in practice, I have seen too many clients think their world will change when they "Retire".
Except for a minority of exceptional people it does not happen. a) because you are still the same you, b) because most of us do not have £sufficient to dine at the Ritz.
Nevertheless, if you look, you will find stuff to do that you will enjoy, and keep the brain ticking.
As far as doing some charitable work;
The object is not the "Charity" you work for, it is the constructive emotions experienced when you do this work.

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By alejandra
15th Jan 2021 13:25

Careershifters has lots of advice for people changing careers or shifting gear at any point in their lives. I recommend it as a good read, but then again I haven't managed to shift yet and I've been doing this 25 years :(

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Moore Accountancy Altrincham Accountant
By smooreaccountancy
15th Jan 2021 14:11

Not sure if you are a ICAEW member, but if so CABA has a couple of courses which you can go on to help you think about the future - "Strengths for a Positive Later Life" and "Thrive in Retirement"

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By Matrix
15th Jan 2021 17:21

You can also work for CABA I believe. On the helplines.

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