Early Retirement - help

suziewuzie

Hi
I am finishing work on Friday (voluntary redundancy, but at my age means taking my pension and lump sum). This has all happened really quickly. I only decided last Thurs, so I haven't really had a chance to plan or think about what I'm gong to do. I plan to do some decorating and other jobs around the house for a few weeks, but the thought of not being in work is somewhat scary. I've been so used to working full-time. What are your top tips for the early retired.

I might look for a part-time job, but I'm sure they are not easy to come by. Is it best to try immediately? Just worried that if I have a long break employers would think I was passed it!

Sorry for rambling, but I'm really not sure what I should do next!!

McKneff

Hello there, I'm in the same boat really, I retired only 3 weeks ago, to be honest, it isnt so bad for me becasue in the last couple of years i cut my work down to 3 days, then earlier in the year went down to 2 days so I was slowly led into retirement.

I really feel that Im still on holiday at the moment and Im taking some time off over the winter as I have hated every time I had to drive in the snow and ice to work.

Just take your time, get the housework out of the way then chill for a while, think about it as to what you want to do. Charity work,
learn a musical instrument. Ive always been a people person so Im thinking charity shop work.

I may well blow my redundancy money on a cruise yet.:D

Bigmoney2

Well I early retired 2 yrs ago, like you due to voluntary redundancy. I had 6 months to get my head round it before I actually finished, but it it still a huge change to make.

I had worked full time since leaving school at 16, and find that motivation is the biggest issue, very easy to get up late, linger over breakfast, open the post, by which time its lunch time. Finishing at this time of year is also harder due to shorter days, bad weather, meaning you can't do much outside (gardening, DIY, walking).

Have a look for local groups you could join that interest you e.g art, walking, local history, family tree etc.but you may find that most people doing these things will be older, rather than the mix of ages you find in the work place.

If you need to find another job for the money I would start looking sooner rather than later but don't expect it to be easy. Maybe look at voluntary work as well the job centre website has voluntary jobs listed (think it www.directgov).

It can be more difficult if you live alone, especially in winter when people aren't out and about as much and you suddenly realise you haven't spoken to anyone for days.

Having a list of jobs to do is good but I've found that 2 yrs down the line not much has been done.

Do i regret finishing? not at all.
Would I go back, definately Not.
I hope I haven't put you off, but it will take time to adjust, but most of all enjoy your new found freedom.

pennypusher

How about learning a new skill - computer skills, painting, a new language etc.

Savvy_Sue

Is your employer offering any redundancy support - I know some offer courses etc.

I think you need to find a balance between doing nothing, and doing too much, IYSWIM. It's a question of finding structure in your life, maybe give yourself a two week 'holiday' but then consider either job hunting or voluntary work if you don't need the money.

soolin

My OH took redundancy a few months back and we decided to live off my wages and our savings so he could in effect take very early retirement.

Frankly he wonders how he ever found the time to work, the hobbies that he used to squash into a few hours at the weekend now take half the day, today as I wasn't working we went to the cinema on the orange Wednesday scheme. We have long lesuirely lunches out at least once a week, usually more.

We are having the time of our lives, it's just a shame that iI have to fit some of my own work around this wonderful life.

phoebe03cat

I had to retire early through ill health. Best thing that ever happened, although totally unplanned!! Taken me nearly x2 years to get new networks and satisfaction from life...but now its great. Get a dog..changed my life round. Something to nurture,gets you out,out,out every day even in grotty weather. Doggie people always talk to one another..have made new friends. Training keeps your brain active and gets you into a new social group. So much so..I've now got x2!

Pollycat

There's quite a few suggestions on this thread:

https://forums.moneysavingexpert.com/discussion/3495839

Re a part-time job, I guess it depends whether you need additional money or would be happy volunteering.

Oldernotwiser

I took ill health retirement at 45 but then went back to work after a break so I think it depends how old you are what you choose to do. If you're still in your 50s, I'd look for another job after taking a couple of weeks off.

Farway

I also opted for voluntary redundancy, and never looked back

As others have said, how on earth did I fit work into my life?

So many things to do, and no rush to complete any of them, next week or next year, it really will not matter. Sun shining? go out and enjoy it, bu66er the housework, it will still be there and can be ignored

Grandchildren? enjoy them, you have time, their parents may not

suziewuzie

Thanks MkK, Big, Penny, soolin, savvy, polly, phoebe, older and far (hope I haven't missed anyone!) Lots of ideas there, which are worth considering (except the dog - sorry phoebe, I'm not a dog person). I think the advice to take a bit of time to think over a couple of weeks is sensible. I'm still feeling a bit 'wobbly' about the whole thing. I'm sure I will be posting again when the reality of it sets in.

Thanks again.