Redundancy - what would to do?

winter02
winter02 Posts: 29
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Hi all. 
In the next couple of weeks my notice will finish and I’m then being made redundant. 
In these strange times I’m very lucky as I have a contingency pot that will keep me going for 12 months or so but also have savings of around 120k. Only debt is the mortgage and I’m 44 years old with 22 years in my final salary company pension which is worth around 15k a year at the moment. 
The job market is pretty grim at the moment and it’s getting quite depressing when you make the effort to apply then not hear anything. 
Once my notice completes I’ve been thinking about getting a temp job to stop me from going crazy e.g working at Amazon, as it will stop me eating into my contingency while I wait for the market to pick up. 
I know it’s a personal thing but was wondering what people’s thoughts are here? 
Thanks 

Comments

  • sharpe106
    sharpe106 Posts: 3,559
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    How much is your mortgage?
    With those figures I would probably be looking for a job that I enjoy rather then need. You have plenty of savings, pension that is enough to live on when get there if mortgage free. 
  • winter02
    winter02 Posts: 29
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    Still got about 75k on the mortgage. Yes I’ve been thinking about having a complete career change to be fair and doing something that I would enjoy even if it’s a lot lower salary. 
  • sharpe106
    sharpe106 Posts: 3,559
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    So basically you have 45k and your contingency fund. Unless you have been a stupidly high earner you obviously don't have that much of an expensive lifestyle to maintain so could easily live on a lot lower salary. Maybe even work for yourself so you can work as and when you want. 
  • winter02
    winter02 Posts: 29
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    Yes living on a lower salary would not be a bind. I’m fortunate that I’ve been able to save hard over the years. It’s a lot of food for thought! Thanks. 
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