Retirement, would you if you could?

[figbat]

I've always looked at work as a way of paying the bills and nothing more, work to live, not live to work.

Same here. That said, I generally like my work and have had some incredible experiences as a consequence of it, plus meeting countless people from around the world and making some good friends. In fact we’re it not for the company I work for I would likely not have a road bike (I bought my first one to take part in a company-arranged sportive). I also met my wife at work, so I guess that’s also good.

But I have always compartmentalised work - the moment I leave for the night or the weekend or for holidays I am no longer working and will not be contactable unless a dire emergency. Same will happen when I retire - shut the door, no looking back; my father did exactly this, twice - after 22 years in the RAF and then another 20+ years in a civilian job he retired and never stayed in touch or reminisced. Job done... next. Although for me this might be a bit tricky as my wife will probably continue working for the same company and with the same people I know.

 

[accountantpete]

Poor Vernon only lasted a couple of days. IIRC, he died on his retirement holiday.

He had "pie in the sky" dreams of retirement - a very sad loss to CC.

 

[Mo1959]

I’m quite lazy by nature and only ever felt work was for keeping a roof over my head. Only had 2 jobs. Boring clerk in an insurance brokers which I didn’t enjoy then 26 years in the prison service which I did enjoy for the first roughly two thirds. Towards the end it was stressing me out big time, more management than prisoners to be honest. Anyway, decided to jack it in and lost a huge amount of my pension for the sake of another two and a half years, but I knew within myself that it would have made me ill carrying on.
Most months I scrape by on the pension, but I was fortunate that the folks left a nice inheritance so I am able to dip into that to supplement on a bad month. Won’t get the state pension for just over 5 years.

Absolutely no regrets although I am not great at filling my time nearly as well as I could, and the current situation isn’t really helping.

 

[Oldhippy]

Just spent 20 years knocking myself out in social care, the last year has been incredibly hard and despite feeling guilty as hell I couldn't manage the unrealistic expectations and quit. Currently looking at 30 hours a week caretaking with no pressure and more money. Gives me more time to follow my hobbies and cycling Covid permitting. If I could stop work I would without hesitation.

 

[beepbeep]

I retired April 2019 at age 51....had a great summer not worrying about work etc until Christmas when two major family tragedies put paid to having no cares in the world etc .....2020 well that was a real game changer - plans to travel around Europe in a new motorhome were dashed...motorhome purchase cancelled and we kept our caravan but luckily managed to get way in the UK between lockdowns ( 6 weeks of sunshine ) . I work part time self employed and work when I want ....We have also purchased a house to '' do up '' and rent out to provide and income which provides a better return than having cash in a bank account that only goes 0.01% interest ..So 2021 will be different - lots of work on the house up until march but hopefully the rest of the year will enable me to enjoy lots of cycling

 

[Beebo]

The sad thing is that people in their 50s may have an option to retire early.
People in their 30s are very unlikely to have the same choice. The cost of housing, poor pension provision and lower job security means the people born in the 1960s are probably the last generation to have early retirement as an option.

 

[stoatsngroats]

I’m 55 this year, and have a couple of pensions, which could see me retire early, but with reduced income, I would have to redirect myself to be more prudent.
If I wasn’t working, I would have plenty to do, cycling, photography and the local environment to be involved in, all of which are possible during the winter months.
I would go early, and probably will, but have 3 or 4 years more work to do.
I may have to make this decision during the next 12 months as I work in the support side of charity.

 

[Drago]

I had it rather foisted upon me at 47. I wanted to stay in the police, and would very likely have stayed well past my 30.

However, I was not fully operational due to permanent injury that I'd acquired as a result of being assaulted while on duty. I'd moved into core CID, and while it wasn't really my thing my disability wasn't an impediment there and I was still doing useful work at rhe same level as my peers.

Then enter Tom Winsor, the new Inspectorate of Constabulary head. In between dressing up in police uniforms himself - despite never actually having been a copper - he pushed for legislation that gave Chief Freemasons the authority to cut the salaries of officers who weren't fully operational by 10%. So, my potential reward for getting a good kicking and sufferening broken bones and permanent nerve damage while protecting the public was to be a loss of 10% of my income. In the eyes of Tom Winsor every bobby who is not fully fit is a malingerer and should be punished.

Thanks Tom.

Fortunately, our CC of the tine refused to use the legislation in force, but i always ran the risk if the next Chief Freemason not being so enlightened, or of legislation changing again and the cur becoming compulsory.

So I applied for a medical retirement, went through the medical tests and failed them all. I ended up with an injury pension and a significant injury award, so it ended up costing the force much, much more than the notional 10% they would have saved it a future CC had ever enacted the regulation in force. The injury award is almost as much ad the pension itself and is tax free, so I actually receive more from that than I do the pension (I'm band 3 if any ex coppers are reading). Tom Winsor's efforts to save a few quid is now costing a fortune. Well done Tom.

So I didn't want to go but felt it was the least worst option to jump now rather than stay and risk being financially penalised simply for doing my job.

I've had a half hearted go at applying for a few jobs. Im educated to postgrad level, but with my injury I couldn't sit at a desk in an office all day, and couldn't do a manual job either. Driving jobs are out as I can't drive for long periods, so that doesn't leave a lot else. I had to have more surgery in 2019 and I've not bothered looking since.

I didn't want to be retired and still haven't completely made the mental adjustment. I try to keep busy and keep a fairly hectic routine of housework and domestic servitude (I do everything other than the cooking to support Mrs D, who is disabled) and with Mrs D's slowly declining health that won't ever change.

So I'm retired and a bit rudderless, but I try to make the best of it - certainly I regularly remind myself that in these horrible times I'm fortunate not have to worry about furlough or losing a job. A lot of people far worse off than I am, so while it wasn't how I had wanted things to work out I try hard not to complain. I did some interesting and even exciting stuff while I employed and it couldn't last for ever, so I try not to get too hung up about slipping into mediocrity so early. It's not at all easy, but that's the frame of mind I try to cultivate.

 

[Beebo]

In answer to the question, yes if I could retire and be financially ok I would.

I don’t understand multi millionaires who keep working when they have no need to. But I guess their work ethic is what got them there in the first place.

 

[Hover Fly]

Not thinking of it until I start failing medical. Love the job, love my colleagues, love the scenery. Would do it for free.

 

[Brandane]

The sad thing is that people in their 50s may have an option to retire early.
People in their 30s are very unlikely to have the same choice. The cost of housing, poor pension provision and lower job security means the people born in the 1960s are probably the last generation to have early retirement as an option.

So we (people born in the 60's) should really grab the retirement opportunity and open up our jobs to the younger generations . The more I think about this, the more tempting it becomes.

 

[Deleted User]

All of the above obviously but to me it boils down to 3 things, will you have enough money, will you be bored and will you miss 'the job'.

If it's Yes, No and No then it's a no brainer.

 

[Deleted User]

Not thinking of it until I start failing medical. Love the job, love my colleagues, love the scenery. Would do it for free.

Perfect scenario.

 

[Bazzer]

I went p/t as both Mrs B and I thought I couldn't cope with the sudden stop. I think I will retire completely this year, but must admit I am conflicted. I generally enjoy the work, but the workload regularly means hours much longer than I am contracted for. Sure in theory, I can take time off, but it becomes meaningless when I currently have recorded the equivalent of over 6 working weeks as surplus.
I suspect my time will be taken up with Mrs B, the garden, carving and my bike.
When Mrs B retired she took up painting and almost daily practice of being a social butterfly.
Coincidentally, when I was speaking with my boss last week, this topic came up. He has another couple of years to go and wants to spend a year touring Europe, seeing heavy metal bands. - Which would be interspersed with his other normal activity of watching Manchester City wherever they play.

 

[midlife]

At 61 I'd retire tomorrow but with dependants and a mortgage that require my salary that's not going to happen.

Maybe in a few years time........