Retirement (human)

[pepsimaxrock]

Is anyone else putting off retirement because of the costs of their beloved horse. I am still working 80% FTE at 63 and am getting sick of it,
but I cant afford to retire and have a horse as well.
I just know I can't.
I don't get my SP for another 2.5 years and although am lucky to have a private pension its only just enough to live on for me and contribute to household bills.
My wee horse is on full livery right now while I work and tbh whilst I know diy would be cheaper I think its a fallacy to presume that it would be significantly cheaper once all costs inc travelling are factored in. I'd also have to find another yard as ours is full livery only.
Wee horse is rising 17 on Jan 1 and is fantastic! I love her. Shes easy to handle, hacks out, jumps to about 85 easily, does a sweet dressage test and is a yard favourite. She was sold to me 5 years ago as a confidence giving mare and that's exactly what she is. She's also had colic surgery and as a result cant take too much grass, can't live out 24/7 and has to have well managed diet. She has arthritis which is well controlled with steroid injections. Both these factors mean she isn't easy to sell / pass on due to her needs. This isn't an advert!
I just don't know what to do. I don't want to work till 2022 to wait for my SP after all I am one of the WASPI generation who expected to retire, and planned to retire at 60 till our pensions were taken from us.
I'm afraid Im being selfish by wanting to retire - ideally Id love to retire and keep my horse but realistically I just cannot afford it. Should I try to sell / pass her on now at 17 or keep her and work for another 2.5 years when both she and I will be much older.
Any help or advice would be welcome. I'd prefer to avoid criticism but know I probably can't.

 

[Skib]

Could you get a retired rider as a sharer? I was an elderly rider, older than you and probably couldnt afford to own and keep a horse as my riding is financed mainl by OH's pension. For me the most briliant thing in my 70s was being offered a share of an elderly horse to hack and I was trusted to hack her in her final years.
When you get to retire, I would suggest that you look for an older pensioner sharer to split the costs with you. Preferably word of mouth and networking. Not many of us in our 70s still have the money or energy to own, nor to do DIY. When my share came to an end, (horse finally retired) I reverted to RS hacks and lessons but was always looking for another safe share and in the end found one.

 

[Desert_rider]

Could you part loan her to take a bit of the financial burden off? If she is as you describe I doubt you would have trouble finding someone.

 

[chaps89]

No criticism from me.
However I would question if DIY was going to be so comparatively expensive to full livery?
Assisted diy (so only going up once per day and therefore not having massive changes in fuel bill) round here is £250ish a month, hay, feed and bedding, even if using a lot, wouldn't be more than another £100 (and should really be quite a bit less), so total £350. Most full livery yards start at £600. It's quite a reasonable saving?
Could you maybe find a sharer who can provide a financial contribution? (I wouldn't rely on this and include it in your sums incase anything goes wrong with the arrangement but count it as an extra)
Could you retire from your usual occupation but do some part time work - waitressing, gardening, cleaning, ironing, delivery work etc just for a few additional pennies on top of pension?
Whether it's enough to then retire I don't know but unfortunately horses, especially the special needs ones, aren't a cheap hobby

 

[Gloi]

Have you room for a lodger? I did that to bring in some extra money. When I found the right one it was okay. The right sharer would be good too. I retired early and have taken one of my private pensions, do a few hours a week in a part time job and am spending some of my savings until I get to state pension age. I don't regret it, I have no dependents to leave anything to. I enjoy having all day to spend with my horse.

 

[SusieT]

no criticism from me, the question is do you want the horse enough to not retire? If you would rather retire and not have the horse now is the time to sell her, 17 is not that old.

 

[dreamcometrue]

I am in exactly the same situation as you OP I have just had my 64th birthday. I have my horse on DIY but still need to work to keep her. She is my world and I will soldier on for the next two years and hope that my increasingly injury-prone joints/tendons/ligaments hold out.

 

[Tonto_]

Would you be able to move her to diy to cut costs and find a sharer/part loaner to help with costs financially? (Sharer would also give you a break a bit)

 

[Errin Paddywack]

I worked till 69. I always knew I couldn't afford to keep horses on my tiny pension even with my free grazing (owned by my BIL). Fate took a hand and I had to have my boy put down in the July that year. Got the chance of voluntary redundancy in the August, did a few sums and decided that my payout would back up my pension for a good few years so took the plunge. Then lost my loan pony that Oct. Very sad but was a big financial relief.
If you really want to keep your horse I guess you have to keep working. I had always expected to retire at 60 but when you look at state pension unless you have a really good works pension you are condemned to keep working. I have to admit to being resentful that I wasn't able to retire sooner, just have to make the best of what I have got.

 

[pepsimaxrock]

No criticism from me.
However I would question if DIY was going to be so comparatively expensive to full livery?
Assisted diy (so only going up once per day and therefore not having massive changes in fuel bill) round here is £250ish a month, hay, feed and bedding, even if using a lot, wouldn't be more than another £100 (and should really be quite a bit less), so total £350. Most full livery yards start at £600. It's quite a reasonable saving?
Could you maybe find a sharer who can provide a financial contribution? (I wouldn't rely on this and include it in your sums incase anything goes wrong with the arrangement but count it as an extra)
Could you retire from your usual occupation but do some part time work - waitressing, gardening, cleaning, ironing, delivery work etc just for a few additional pennies on top of pension?
Whether it's enough to then retire I don't know but unfortunately horses, especially the special needs ones, aren't a cheap hobby

 

[pepsimaxrock]

Yes - Thankyou - I am going to look at the costs of diy and think about a sharer. I have a while to do this. The costs you quote would be prohibitive to me now though.

 

[honetpot]

Have you checked your SP contributions, if you have have credits for a full state pension I would look for other work that fits round you and your horse and perhaps pays less money. You may find a job that makes you less resentful and have more time for the horse you obviously love.
I think there is a lot of us that expected to retire at 60. I like working but I wouldn't want to do it full time.

 

[Leo Walker]

I think there is a lot of us that expected to retire at 60. I like working but I wouldn't want to do it full time.

And now there are a huge amount of us who will die working at our desks, so could be worse.

 

[Pearlsasinger]

I am another who expected to be able to take my State Pension at 60 and haven't been able to do so. Some women are worse off than us, I have a friend whose private pension contributions disappeared when her pension provider went under and the compensation that she got was minimal.
I was fortunate to be offered the opportunity to take my Teachers Pension a few years early, because of the circumstances of the school where I was working. Then, quite unexpectedly, I was offered p/t work for the LA. I had intended to do some supply teaching to boost my income but that plan changed. I have particularly enjoyed my work supporting education professionals, although even now, 7 yrs on, I still look at children's books and think about how I could use them in the classroom

The absolutely best part of my new role is being in charge of my own diary, it doesn't really matter how many days my work spreads over because that is *my choice*.

OP, if you can cut your hours, I would do so, I know from my own experience and that of friends that it really helps to improve your quality of life. Does your yard allow part livery? Would you be able to take over some of the routine care of your horse on days when you don't work? Or would you be able to move your horse to somewhere where you could do that? I guess that it partly depends on which part of the country you are in.

For any-one else who is young enough for it to make a difference, please make sure that you take advantage of the work-place pension scheme. I don't actually think that the gvt do want us to work until we drop but they do want us to make alternative arrangements to the State Pension.

 

[bubsqueaks]

Sometimes its a catch 22 isn't it - you work to play with ponies but then cant give up that work without giving up the ponies!
However, once you do retire you will have time to do the pony yourself which will be a big cost saving against full livery.
Have you looked at other financial options ie downsizing, reducing bills, car change, budgeting that way.
I too looked at my pension forecast this year - I am 54 so bit further behind but given the cost of the horses don't think I can justify their costs in retirement but we will see.
Another thought if you retire & rent some land you could then charge other people the high full livery costs etc. whilst earning yourself some more income!?!

 

[peanut]

Sometimes its a catch 22 isn't it - you work to play with ponies but then cant give up that work without giving up the ponies!

^ This applies to me and I think it all the time.

OP I'm in a similar position to you. Although only 57 (my horse is 17), I will have to continue to work for as long as she lives. Selling isn't an option for me as my horse is part of the family and unfortunately she's not a quiet ride so it's difficult to find a sharer.

 

[Tarragon]

I am wondering if you can compromise to make it work. As in, find a lower paid part-time job and use the time gained to reduce the costs of keeping your horse by doing more? Or will your work allow you to reduce your hours? So many firms are becoming much more favourable to flexible working patterns

 

[Red-1]

I retired before my Govt pension age, with enough to live on and pay the bills, but not necessarily enough to do everything I had been doing. I have taken a lower paid part time job in a totally different sector. It is fresh and fun. The extra money means I can do what I want to.

I work mornings only, so I turn out in the morning and am finished in time to still have daylight left even in winter.

 

[J&S]

I am 72, did get my pension at 60 but because of rather, shall we say "adverse conditions" during my life it is very meagre basic SP. I have therefore not stopped working at one thing or another in order to be able to keep my ponies. For the last few years I have done Public Service Surveys (for the police, NHS etc) in a zero hours situation which is completely flexible, so if I want time off that's fine, on the other hand I can make up for it financially by doing an extra day/hours here and there. Perhaps you can find some thing similar to this. Work out just what you need to earn for the horse's keep (plus a reserve kitty?) and do no more than needed. Good luck, don't sell the horse!!

 

[canteron]

I don’t know where you live but if it is reasonably rural I bet there are lots of people with either little livery set ups or who wouldn’t mind an additional horse on livery in exchange for help rather than money. But they never advertise for fear of inviting a difficult person into their life! So if you really want to keep your horse then time to start investigating - you really do have to ferret them out but it could be house sitting/cleaning/anything!!
but alternatively if you want to sell a straightforward nicely mannered easy 17yo should be able to find a nice home.

 

[lme]

I am coming up to retirement age and, from next year, I expect to have 5 horses at livery 😳 Not planning to actually retire yet for obvious reasons.

 

[Orangehorse]

I can fully understand OP, but if full livery suits you and means you can continue to enjoy your horse, then keep it. I think trying to get a sharer might be a good route, particularly if your horse is so good to ride and that can offset the financial burden.

Some of the replies are from younger people. I am older than you, I get my pension! My horse is at home so I look after him. But it is the physical looking after him that is getting to me. I am finding it very hard work, mucking out and pushing wheelbarrows around, lifting hay and straw bales, carrying buckets of water, sweeping the yard, poo picking and all the dozens of jobs that are needed, and it is all getting a bit much. My horse is 21, still a big strong horse whereas I am getting weaker. He does have veterinary issues which mean that I couldn't sell him or even loan, realistically. Nor am I able to afford a lot of extra help, the occasional holiday or day out I have to pay for cover. I won't be getting another horse when he goes, but I hope to be able to keep riding somewhere.

I realise that there may come a crisis at some point, not looking forward to that.