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Poll: As a freelancer, my retirement plan consists of:
Thread poster: ProZ.com Staff
ProZ.com Staff
ProZ.com Staff
SITE STAFF
Apr 26, 2021

This forum topic is for the discussion of the poll question "As a freelancer, my retirement plan consists of:".

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Maria Teresa Borges de Almeida
Maria Teresa Borges de Almeida  Identity Verified
Portugal
Local time: 19:57
Member (2007)
English to Portuguese
+ ...
A combination Apr 26, 2021

I have no intention of retiring from translation any time soon as long as my health allows me to do it. I (re)-started freelancing when I retired from my in-house position in 2006 and since then I have been receiving a pension from the European Commission. Besides that, I have some savings and I’m affiliated to a private pension fund.

Muriel Vasconcellos
 
Tom in London
Tom in London
United Kingdom
Local time: 19:57
Member (2008)
Italian to English
EVery day Apr 26, 2021

ProZ.com Staff wrote:

This forum topic is for the discussion of the poll question "As a freelancer, my retirement plan consists of:".

View the poll results »



I retire every day. To my bed.

[Edited at 2021-04-26 11:43 GMT]


Baran Keki
Alice Crisan
Vanda Nissen
Angie Garbarino
Josephine Cassar
 
Kevin Fulton
Kevin Fulton  Identity Verified
United States
Local time: 15:57
German to English
Buying lottery tickets Apr 26, 2021

Have you ever met a retired translator? I haven't. Over the past 20 years I've had reports of colleagues being found dead at their keyboards.
My mentor worked until he went into hospice at age 84. I hope to avoid that fate.
With DJT gone, I don't see much of a future in sticking with Russian junk bonds.


 
Kay Denney
Kay Denney  Identity Verified
France
Local time: 20:57
French to English
. Apr 26, 2021

I don't exactly plan to retire. I hope I'll continue to get interesting work. Once I'm entitled to my pension, I'd like to scale back, and only take on the truly interesting stuff.
I do have some savings, and a couple of other income streams.


Muriel Vasconcellos
 
Maria Teresa Pozzi
Maria Teresa Pozzi  Identity Verified
Italy
Local time: 20:57
German to Italian
+ ...
I cant't wait to retire Apr 26, 2021

I recently knew that I will retire in 2032 with peanuts...

 
Ana Vozone
Ana Vozone  Identity Verified
Local time: 19:57
Member (2010)
English to Portuguese
+ ...
My plan is Apr 26, 2021

to continue to work, both for financial and "sanity" reasons.

I find that work (translating) keeps my mind relatively in tune and up-to-date with the digital world that I want and need to be part of, at least to some extent


Iwona Budzynska MCIL
Philip Lees
Muriel Vasconcellos
 
Christopher Schröder
Christopher Schröder
United Kingdom
Member (2011)
Swedish to English
+ ...
Bungee jumping Apr 26, 2021

I plan to wind down over the next decade and then live off the pension plan and savings I’ve built up over the past 25 years, thanking myself for being sensible and setting plenty aside from the start so I can afford all the skydiving and dancing girls I can shake a stick at in my dotage.

Michael Harris
Duran Davis
Philippe Etienne
 
Edith van der Have
Edith van der Have
Netherlands
Local time: 20:57
Member (2016)
English to Dutch
+ ...
A combination Apr 26, 2021

I worked in day jobs for 15 years, so I'll receive a pension on top of social security. However, this is still not a lot, so I invest quite a big amount each month in index funds so I'll have enough money if I grow tired of translating (whenever that may be; perhaps at 55, perhaps at 85 )

[Edited at 2021-04-26 15:39 GMT]


Christopher Schröder
Duran Davis
 
Michael Harris
Michael Harris  Identity Verified
Germany
Local time: 20:57
Member (2006)
German to English
Same here Apr 26, 2021

Chris S wrote:

I plan to wind down over the next decade and then live off the pension plan and savings I’ve built up over the past 25 years, thanking myself for being sensible and setting plenty aside from the start so I can afford all the skydiving and dancing girls I can shake a stick at in my dotage.


Have paid into the government system 20 years long and also have a private pension. As soon as the flat is paid off, that will be increased. Here in Germany, you do not have to pay into the state pension schemes if you are self employed.


 
Abba Storgen (X)
Abba Storgen (X)
United States
Local time: 14:57
Greek to English
+ ...
I know two... Apr 26, 2021

Kevin Fulton wrote:
Have you ever met a retired translator? I haven't.


Yes, I know two. One of them in NY (obviously relocated after retirement), left the industry to retire about 7-8 years ago. He lived through the golden times, even his social security alone would be marginally enough in a cheap area, though the large pension comes from his wife's side (she worked in a bank).
But that was the past. Those scheduled to retire within the next 10-15 years from this job better have another source of income or some serious investments or their own paid-up house in a low-tax area etc, otherwise they'll die in a homeless shelter.


Duran Davis
 
Gerard Barry
Gerard Barry
Germany
Local time: 20:57
German to English
Really? Apr 26, 2021

Michael Harris wrote:

Chris S wrote:

I plan to wind down over the next decade and then live off the pension plan and savings I’ve built up over the past 25 years, thanking myself for being sensible and setting plenty aside from the start so I can afford all the skydiving and dancing girls I can shake a stick at in my dotage.


Have paid into the government system 20 years long and also have a private pension. As soon as the flat is paid off, that will be increased. Here in Germany, you do not have to pay into the state pension schemes if you are self employed.


Is that really so? That a self-employed person does not have to pay into the state pension scheme in Germany? But presumably then they don't get any pension at the end? Or would they at least get the Hartz IV payment (or whatever the equivalent is for pensioners)?


 
Maria Teresa Borges de Almeida
Maria Teresa Borges de Almeida  Identity Verified
Portugal
Local time: 19:57
Member (2007)
English to Portuguese
+ ...
I met a few... Apr 26, 2021

Kevin Fulton wrote:

Have you ever met a retired translator? I haven't. Over the past 20 years I've had reports of colleagues being found dead at their keyboards.


You’re probably talking only about freelance translators. From the original team of 15 translators working in-house (in the Portuguese division of an EU institution), 11 have really retired and I’m the only one who decided to keep on translating.


 
Vanda Nissen
Vanda Nissen  Identity Verified
Australia
Local time: 05:57
Member (2008)
English to Russian
+ ...
I am not sure is this question makes sense... Apr 26, 2021

because we all reside in the countries with different systems. In Australia, translators like anyone else, are entitled to age pension but you really need to make sure that you own your house outright, because social housing options are quite limited and waiting lists are very long. My generation also pays money into superannuation funds (private pension).

Zibow Retailleau
expressisverbis
 
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Poll: As a freelancer, my retirement plan consists of:






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