Redundancy again aged 61

Farway

some good advice on here, just sit back, enjoy life in the slow lane, and living expenses are less as has been said

If you find yourselves twiddling thumbs and looking at daytime TV al day, consider U3A, or volunteering to help others

MoneyMate

Hi mollsnan, Life's too short make the most of it, I was made redundant in 2006 with nearly 30 years service with one company, my plans were to get a part time job ( Never Happened ) always full time.
Now at a similar age to yourself s and no Mortgage etc. live off early retirement company pension, as you say things are meant to happen sometimes.
Life's too short make the most of it :beer:

Mojisola

We've got early-retired friends who house-sit - they are always off somewhere new, looking after the house and pets but having plenty of time to enjoy exploring the part of the country where they end up.

PennyForThem_2

I would go to the Pensions and Retirement Board.

(I have just attended a retirement day put on by NHS - it was very revealing that sticking any lump sum that you may have totally in cash is not a winner. It may be worth getting free advice from IFA - like a lawyer they give free consultations...)

pollypenny

I also attended a retirement day seminar, run by the Teachers' Pension Agency.

The adviser came all the way to North Wales from Yorkshire, in a Mazda sports car. An alert that his commission, whether directly from me or from charges, would take a big slice of my funds.

He did produce some good ideas, but small print showed annual charges which would have taken the cream.

Broadwood

I took voluntary redundancy in 2005 aged just 48 after almost 30 years as a delivery driver (van then 7.5T). Upskilled to C+E (artic) at ex-employer's expense. Turned out to be a wise move.

I did a year or so agency driving getting experience, then dropped on a zero-hours contract where I've been ever since. By my choice I average only 4 shifts a week including Sundays. No worse off and much better work/life balance. Planning to reduce to 3 days a week at about age 60.

Golden rules....avoid debt, spend wisely, invest any surplus and most importantly.......enjoy life.

Full time work is a mug's game unless you NEED the money.

MoneyMate

Broadwood wrote: »

I took voluntary redundancy in 2005 aged just 48 after almost 30 years as a delivery driver (van then 7.5T). Upskilled to C+E (artic) at ex-employer's expense. Turned out to be a wise move.

I did a year or so agency driving getting experience, then dropped on a zero-hours contract where I've been ever since. By my choice I average only 4 shifts a week including Sundays. No worse off and much better work/life balance. Planning to reduce to 3 days a week at about age 60.

Golden rules....avoid debt, spend wisely, invest any surplus and most importantly.......enjoy life.

Full time work is a mug's game unless you NEED the money.

Good Luck for the future I partly appreciate what you have gone through. :beer:

Katiehound

I would say if you can afford to, then live off a reduced income and forget about working.
I got very early retirement... it was a bonus as I went back to college and did a ND in craft. At that time I paid about half the tuition fees, so not the same scenario as these days.
I did a lot of voluntary work, claiming for my essential mileage- I loved taking my dog into schools, youth groups etc with Blue Cross and working on the stand at Crufts.
I had (and still have ) time to do just what I wanted.
I am still doing charity work but it is different.
There aren't enough hours in the day. So if you have plenty of interests you need never be bored!
Take advantage of cheap meal deals, get used to looking at the yellow labels etc and HAVE FUN!

mollsnan

Sorry for not replying to all replies you have kindly sent. I have been ill and in hospital last ten days so no internet! We have taken on board all your comments, it's wonderful to hear other people's stories/experiences relating to these issues. At the moment the company OH is employed with is still implementing changes, he may/may not get another year. At least another years wage without having to hit the savings. He has had a first interview for another job, waiting to see if he gets called for the "second". It looks like he is just going to any interview which comes up, and wait and see. No point jumping ship. But this times round trying very hard not to stress over something which we can't control.