Will the "new normal" and WFH delay your retirement plans?

MallyGirl

I have been a homeworker for 17 years so very little changed for me apart from me no longer being "weird", "awkward", "an issue" etc.
The WFH requirement has been transformational for my OH. He has always resisted WFH - he would maybe do a Friday once in a blue moon if there was a serious deadline that required no distractions. Now it has all changed - we redecorated his office and sorted the heating and he was quite resentful of the edict to go back in 2 or 3 days a week. As it turned out there isn't the space to do that any more and he has only been in once to his office, once to HQ and once to the London one. He managed a Christmas do last week before it all clamped down. He has no desire to go back in any time soon. We now walk the dogs before work, he fits in a swim during the week, we have lunch together if our diaries line up. No traffic, no fuel bills, no meal deals for lunch, no hassle. He is healthier, happier and less stressed.
Him being around more means we have had time to talk about early retirement, time to look at all my spreadsheets, time to think about our future. He may transition to less days a week before RE as he has LTA looming and he is still not sure what he will do with himself every day. At least he is thinking about it now.

runningromani

I’m looking at early retirement at 55 next April, was going to go at 58 but pandemic, younger friends diagnosed with cancer and sad loss of mum in law leading to a modest inheritance has changed the picture. WfH has been a double edged sword for me, don’t miss the commute but do miss some of the in person interaction. Also very busy, stressful at times and new boss who has systematically demoralised the team is also influencing my decision to leave. 37 years in the Same organisation, have done my time in several Depts and I’m becoming increasingly cynical and grumpy, another sign I think I’ve had enough. Also I don’t want to drag colleagues down, mostly much younger and enthusiastic (which I do love to see to be fair). 

sheslookinhot

gundo said:

I plan to go at 60 but it's very tempting to go earlier as I'd rather do other things. My interest in my job and in fact my area of work has fallen off a cliff. I may go reduced hours from next April. I still have 3 years of NI to contribute to get full state pension.

Don’t forget that you can “buy” these additional years, if you decide to go earlier.

westv

My place recently offered me a permanent wfh contract (with occasional visits back to the office as required). Previously I was thinking of going next year at 59 but now I will be staying on longer.

daveshep26

To answer the original question - then - Quite probably has significant impact for me.  The flexibility and additional options available from not being rigidly tied to a specific desk at single location are important (I think this is the main point), in my company we were going back to a pretty regular hybrid model throughout this Summer, but colleagues in closely related teams are beginning to re-locate to Devon to remote work (we are near to busy M3/ M4/ M25 area with high cost of living (housing)). I can see myself following that trend if possible/ sustainable over several years.. (I'm currently early fifties and reasonably senior management).  6-9 months ago I thought I'd be on site probably 50%, but short- to medium term I think this is more like 1 or 2 days/wk (virtual/ remote working has gone very well.. company record performance in 2020 and continuing....).. so a change in location is starting to appeal for me....

However, from personal/ family perspective I think that's more likely after kids all finish school & Uni, so I think this is 3 years away (plus or minus a bit)..

Less commuting right now is nice, but I didn;t mind that too much in overall scheme of things, I do like occasionally I can switch off immediately at 5- 5,30 and do a home/ self purposeful activity and still see family and semi-chill of an evening, so that's a very big plus on remote working.

Lots of factors, but intrinsically - more remote working gives more options ... which I think has to be good generally.  I have DB pensions kicking in at 60 (& my better half also) so I'm currently thinking substantially part-time from around then is way to go for me, I think part-time is main factor, I wouldn't want to have to continue at 100%.... I think remote working will be major boon to me personally (well that's current forecast, who knows what will actually happen!)

Farside71

runningromani said:

I’m looking at early retirement at 55 next April, was going to go at 58 but pandemic, younger friends diagnosed with cancer and sad loss of mum in law leading to a modest inheritance has changed the picture. WfH has been a double edged sword for me, don’t miss the commute but do miss some of the in person interaction. Also very busy, stressful at times and new boss who has systematically demoralised the team is also influencing my decision to leave. 37 years in the Same organisation, have done my time in several Depts and I’m becoming increasingly cynical and grumpy, another sign I think I’ve had enough. Also I don’t want to drag colleagues down, mostly much younger and enthusiastic (which I do love to see to be fair). 

Very similar, 28 years in same organisation, its not the same place at all and after 18 months of WFH was burned out and just walked away.  Might have got redundancy if I'd done it at start of pandemic but was too unsure of what would happen at that stage to go down that route.  Quite a bit younger but could theoretically retire, but doing low paid (enjoyable) work now which doesn't have any WFH options (I'm a delivery driver).

Just heard someone from my old work died from covid yesterday, about same age as me.  

My attitude is really if you don't enjoy the job, get out if you can and live a more basic life if you're worried about finances.  I honestly don't think we're coming out of this way of living for 5-10 years, particularly for people in their 50s and up who are always going to be more susceptible to covid.

Idiot_Savant

runningromani said:

I’m looking at early retirement at 55 next April, was going to go at 58 but pandemic, younger friends diagnosed with cancer and sad loss of mum in law leading to a modest inheritance has changed the picture. WfH has been a double edged sword for me, don’t miss the commute but do miss some of the in person interaction. Also very busy, stressful at times and new boss who has systematically demoralised the team is also influencing my decision to leave. 37 years in the Same organisation, have done my time in several Depts and I’m becoming increasingly cynical and grumpy, another sign I think I’ve had enough. Also I don’t want to drag colleagues down, mostly much younger and enthusiastic (which I do love to see to be fair). 

God, this could be me - only the age is different. 58.

jimi_man

I was due to go Part time last year in around April, however the manager didn't get around to dealing with the paperwork and when Covid hit and we were all sent home to WFH (I'm in a branch of the Civil Service) I stopped it as with Covid there wouldn't be any point.

Just had it authorised and sorted so I start three days a week in January. I plan to do that for a year - maybe 18 months, then call it a day.

drummersdale

jimi_man said:

I was due to go Part time last year in around April, however the manager didn't get around to dealing with the paperwork and when Covid hit and we were all sent home to WFH (I'm in a branch of the Civil Service) I stopped it as with Covid there wouldn't be any point.

Just had it authorised and sorted so I start three days a week in January. I plan to do that for a year - maybe 18 months, then call it a day.

Hi @jimi_man I am looking to go to 3 days a week (Civil Service too) next year - did you find it a struggle to get approval for 3 days - in terms of someone else taking up the slack for the other 2 days? The concern I have is that if I can’t identify someone who can fill in for the other 2 days then it will either not be approved or, like others have reported, end up working on the days I shouldn’t be!

NedS

drummersdale said:

jimi_man said:

I was due to go Part time last year in around April, however the manager didn't get around to dealing with the paperwork and when Covid hit and we were all sent home to WFH (I'm in a branch of the Civil Service) I stopped it as with Covid there wouldn't be any point.

Just had it authorised and sorted so I start three days a week in January. I plan to do that for a year - maybe 18 months, then call it a day.

Hi @jimi_man I am looking to go to 3 days a week (Civil Service too) next year - did you find it a struggle to get approval for 3 days - in terms of someone else taking up the slack for the other 2 days? The concern I have is that if I can’t identify someone who can fill in for the other 2 days then it will either not be approved or, like others have reported, end up working on the days I shouldn’t be!

Were you to develop a health condition (e.g, stress), it will be hard for them to refuse reduction of hours on health grounds, and if they do then a couple weeks off with a fit note from your GP should help adjust their viewpoint.