Latest news with #semi-retirement
Telegraph
7 days ago
- Business
- Telegraph
The seaside house price hotspot bucking the coastal downturn
Tom Cole is embracing semi-retirement – and is moving against the tide. While soaring council tax bills are pushing second home owners to sell up their seaside homes, he is buying. He and his partner, Lee Gunthorpe, are in the process of exchanging their Hertfordshire home for an elegant seaside townhouse in Dartmouth, Devon. It is one of the few towns that are bucking the seaside price slump. In the past year, prices have breached the £500,000 barrier, with 4pc annual growth, according to Rightmove. Further along the coast, prices in Sidmouth have fallen by 5pc in the same period (to just under £495,000), while Canford Cliffs is the biggest loser, with prices down 9pc to £975,000. Properties by the seaside across the country rose in value by just 1.1pc in the last year to £318,464. Cole, 59, a former university lecturer, and Gunthorpe, 56, who traded in his career as a project manager in the City to become a postman, got to know south Devon after Cole's parents moved to Kingswear, on the other side of the river Dart, from Dartmouth, 16 years ago. 'The lifestyle is very laid back,' says Cole. 'You feel as if the pace of life is much slower and you are out of the rat race but there is still a lot to do.' Since spending £515,000 on their townhouse in March – their similar-sized home in Sawbridgeworth, a 400-year-old converted workshop, is in the process of being sold for £435,000 – Cole and Gunthorpe have been able to indulge in hobbies like kayaking and are volunteering at the National Trust-run Greenway Estate, the former home of Agatha Christie. The couple already have friends locally and think that making more will be pretty straightforward. 'People seem to be down to earth, happy and approachable,' says Cole. Dartmouth hasn't escaped from the coastal downturn completely. Second home buyers have all but vanished, says buying agent Ed Jephson, of Stacks Property Search. But Dartmouth has always appealed to retirees or those approaching it. 'I cannot speak highly enough of it, it is a fantastic town, a really functioning all-year-round town' says Jephson. 'Second home owners are quiet, but the void has been filled by people who want to live here full time. 'I am not surprised because the quality of life is second to none. It is a really active, healthy community. I play tennis every week and rarely does it get too cold – you can still be in your shorts in November. There is sailing and walking too, and the restaurants survive because there is trade all year round, which is not something you can really say about all of the South Hams.' James Archibald, a 36-year-old photographer, agrees. He moved to Dartmouth in the depths of winter, and has been pleasantly surprised by how it functions off-season. Having grown up in north Devon, he was braced to find a town shut down for the winter season. 'It has been revelatory,' says Archibald, who used to live in Exeter, but moved to Dartmouth in December after inheriting his grandparents' bungalow. 'There was still a lot going on, a lot of culture for its size and everything just keeps ticking along. In somewhere like Croyde, for example, come October everything closes and doesn't reopen again until Easter.' Not only do most of Dartmouth's independent shops and restaurants stay open over the winter, but the town centre, with its pastel painted buildings lined up overlooking the harbour, is picturesque whatever the weather. There are also plenty of annual events, from August's annual regatta to live music and food festivals throughout the year. Its two schools are both rated 'good' by Ofsted. Trains from Totnes Station 10 miles away take just over two-and-a-half hours to London Paddington. Richard Blake, of Winkworth estate agents in Dartmouth, believes that the Rightmove figures disguise a more complicated picture. He agrees with Jephson that second home buyers have vanished, deterred by a combination of general economic malaise, a reported drop in holiday let bookings and a 100pc council tax surcharge. This has decimated demand for little fisherman's cottages and marina-front apartments that were being snapped up for record prices in 2021 and 2022. But locals' homes, largely flats under £150,000 sold to first-time buyers and family houses away from the waterfront that go for between £275,000 to £475,000, are still trading well. Traditionally, retirees have been Dartmouth's bread-and-butter buyers, but the town has been benefitting from a younger influx of buyers freed from their offices by working from home, who are keen to start a new life by the sea. While the UK's population is ageing, the South Hams is bucking the trend according to the Office for National Statistics migration data. It is attracting an increasing number of young incomers. In 2022, the most recent data available, 17pc of movers into the area were in 20s, and another third were in their 30s and 40s. Only only 22pc were in their 50s and 60s. Becky Dostal and her partner Arran Watkins, both 30, relocated to Dartmouth in 202, and their move from Cheltenham, Gloucestershire, has brought the couple career satisfaction. In Cheltenham, Dostal worked as a chartered accountant and Arran was operations manager for a private jet company. For Dostal, the appeal of spreadsheets and tax returns had started to pall, while Arran was not completely satisfied with dealing with the travel arrangements of the 1pc. The couple decided to quit their jobs and clear their heads by going travelling for six months. On their return, they decided to move to Dartmouth, largely because Dostal's parents and brother had already relocated to the area. Once settled into a £650 per month two-bedroom house – a couple of hundred pounds less than they were paying for a similar-sized property in Gloucestershire – Dostal turned her baking hobby into a business, setting up Pebble Pantry and selling her wares online and in local cafes. Arran is an on-call firefighter and works part time for a boat maintenance company. The couple have found Dartmouth's community 'close knit'. 'You really have to put yourself out there to make friends – it's not like in Cheltenham where there were lots of sports clubs and groups to join,' says Dostal. But the couple have relished the chance to explore nearby Dartmoor, walk the South West Coast Path and hang out on the beach after work. 'Sometimes it feels like we are on holiday,' she says. Julie Hill, of The Coastal House, sells seaside homes in the South Hams and Torbay, and has seen the change in the market's focus. 'The market in Dartmouth has really shifted,' she adds. 'There are not many second home buyers, but what we are getting is people who want to buy permanent homes, often early retirees, but young families too, and they are serious buyers – if they see something they like they will buy it.' 'Dartmouth really punches above its weight,' she says. 'People feel that they can relocate down here and have a life all year round.'
Yahoo
14-07-2025
- Business
- Yahoo
5 Important Signs You Should Consider Semi-Retirement
Traditionally, the idea of retirement meant that when you turn 65, you would retire from work and live off your savings and investments. However, today, fewer people want a comfortable ending to their employment completely. Some reports have found that 44% of individuals between the ages of 55 and 64 plan to continue working to some extent past retirement age. Be Aware: Read Next: Semi-retirement is the growing trend of continuing to work part time past the age of retirement. Here are five reasons you might want to consider it. Retiring isn't a fundamental right. It takes a long time to build up the savings and investments it takes to live out your old age comfortably. In fact, only 42% of Americans feel confident that they'll have enough to retire comfortably. For those between 55 and 64, the average 401(k) balance is $196,000, and 15% of those older than 55 don't have any savings at all. Even if you have saved diligently over the years, it may not be enough to live out the retirement you want. Semi-retirement is an option that allows your investments to continue compounding for a few more years while providing an income. If you're able to work a high-paying job, like a real estate agent, you can begin cutting down the number of clients or hours you take on and continue to contribute money to your retirement accounts. For example, with a Roth IRA, individuals under 50 are able to contribute $7,000 a year that they can grow tax-free until they withdraw it after the age 59 ½. However, after turning 50, you can contribute up to $8,000 annually. By deciding to semi-retire, you can continue to contribute more money that will grow in your account tax-free. Check Out: On the opposite side of the spectrum, you might have held a high-stakes role full of stress for years and feel: Fatigued Detached Declining job performance Easily irritated Headaches Tense muscles All of these are symptoms of employee burnout, and it can vary depending on the individual. Unfortunately, the longer you ignore employee burnout, the worse it gets, and it isn't just limited to the office. Burnout can lead to dramatic shifts in your personal relationships, where you may have a short fuse, become apathetic, fail to communicate effectively and show less interest in intimacy with your partner. Semi-retirement can offer you a lifeline. By limiting your role and duties, you can set clear boundaries to separate your work and personal life. Reduced work and responsibilities will allow you to have more time for sleep and exercise throughout the week, leading to a better lifestyle without completely leaving your role. To some, the thought of retiring may be depressing on its own. If you were lucky enough to go into a field you enjoyed and find a job that you loved doing, saying goodbye to your work would be difficult. Semi-retirement offers an opportunity to stay on board in a reduced role and continue doing what you love, while giving the younger generation a chance to develop. Going from a routine work schedule to having more free time than you know what to do with is a major life change that can be difficult. Retirement syndrome is the onset of feelings of loneliness, emptiness and uselessness after someone retires. This often stems from an unclear understanding of one's purpose now that they're no longer working. Semi-retirement can help you slowly adjust to these changes. You'll have more free time to pursue hobbies and determine how you'll spend your retirement, but you'll also have some work to fill your days with meaning. Even if you're past retirement age, you might still have the skills and experience that a lot of companies are willing to pay the big bucks for. Being in demand can allow you to choose your own hours and earn a decent income at the same time. Some of these roles include: Consulting Health services Professional and business services Education Manufacturing Transportation Finance Hospitality Animal care Coaching Personal assistant Having skills that still translate to a good income is another reason to consider semi-retirement. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 5 Types of Cars Retirees Should Stay Away From Buying Mark Cuban Tells Americans To Stock Up on Consumables as Trump's Tariffs Hit -- Here's What To Buy This article originally appeared on 5 Important Signs You Should Consider Semi-Retirement
Daily Mail
30-05-2025
- Entertainment
- Daily Mail
Ray Winstone, 68, reveals he has semi-retired and spends most of his time in Sicily 'to rest in the sun'
Ray Winstone has revealed that he has semi-retired and now spends most of his time in Sicily. The actor, 68, admitted that he just wants 'to rest in the sun' and just takes on projects when he needs a pay check. In an interview with The Daily Star, he explained: 'I'm backwards and forwards from here to Sicily. I'm 68 now, I want to rest in the sun… I'm getting old ain't I.' Revealing that he has semi-retired, Ray added: 'I've got one or two other projects that I've read, but they're in the queue to be made. 'But then there's other times when you read something you're not quite sure about but you need to pay the rent, so you will go and do that, you have to do that.' From A-list scandals and red carpet mishaps to exclusive pictures and viral moments, subscribe to the DailyMail's new Showbiz newsletter to stay in the loop. When his work was affected by the 2023 Writers Guild of America strike, Ray made a remarkably different career change. He began working as a labourer in Sicily after he's acting work dried up due to the strike. Ray told The Mirror: 'I've been doing a bit of labouring out here, a bit of graft. I hurt my back a couple of years ago, so I've been building my back up a little bit. 'There's a writers' strike on at the moment, so that's affecting a hell of a lot of stuff in my game. I've just been having a bit of time off. I'm just enjoying being lazy. It's fine.' Meanwhile, Ray opened up about enjoying the quieter life in Italy on the Pound for Pound podcast: 'Here, I sit out at night. I'm at the top of the mountain and all you can see is the stars. 'At night you turn all the lights off and I've got a little telly outside and I watch the telly and have a drink outside. I'm here on my own at the moment. 'Don't tell no one, though, in case someone comes up and robs me. I've got a great big bat with me and all that. But it's lovely. I sit outside and all you hear is wild animals.' Ray has reprised his role as Bobby Glass in the next series of Netflix drama The Gentlemen. Production is currently underway in the UK on hit show, which stars Theo James and Kaya Scodelario as the masterminds behind a drug empire. Filming is already underway at the stunning Badminton House in Gloucestershire - a grand estate that doubles as the fictional Halstead Manor in the series. The British gangster drama, which also stars Vinnie Jones, has also added new cast member, Downton Abbey star Hugh Bonneville. Others joining The Gentlemen are Benjamin Clementine (Dune), Benedetta Porcaroli (The Leopard), Michele Morrone (Another Simple Favour), Sergio Castellito (Conclave), Amra Mallassi (Dune: Part Two), and Tyler Conti. Returning cast includes Daniel Ings, Joely Richardson, Vinnie, Jasmine Blackborow, Michael Vu, Harry Goodwins, Ruby Sear, Pearce Quigley, and Giancarlo Esposito. Speaking of directing the new series, Guy said: 'This chapter sees a deliberate expansion, both geographically and thematically, as we journey from the English countryside to the Italian lakes. 'Eddie (James) and Susie (Scodelario) find themselves navigating an increasingly volatile empire as they're besieged on all fronts by an influx of enigmatic new players. The stakes are heightened, the power dynamics are more precarious.'
