Bold leap into retirement

MeteredOut

savingholmes said:

Following with interest. I hope to be able to pull the plug on my day job mid 2030 and switch to passion projects instead.

I hear OnlyFans can pay quite well 

kimwp

Four days a week is the way to go. I do five in four at the moment so it's long days but it's a much better balance of working to non-working days. 

kimwp

Phossy said:

FWIW, I don't plan to retire just yet, but I could. Even though I know that, it doesn't make me care any less about what I do and I will continue to try and do everything to the best of my ability and worry about it until the day I retire (or expire!). It's in my nature. 

I go over and above fairly frequently (20ish days in a row last summer with 20ish hours overtime in ten days of that and a 2am report signing, but that's the worst it's been) and always strive to do a good job. I do really enjoy my job, but I wonder how I will feel when I don't need to do it and someone is being annoying or a situation is frustrating. I do care more about the quality of work and the people than the product though, maybe that's what tips it for me.

michaels

kimwp said:

May I ask - those who are leaving jobs that are making you stressed/burnt out - how are they making you feel that way when you know you can leave?

Phossy said:

FWIW, I don't plan to retire just yet, but I could. Even though I know that, it doesn't make me care any less about what I do and I will continue to try and do everything to the best of my ability and worry about it until the day I retire (or expire!). It's in my nature. 

It is weird.  If I were sacked for not turning up or not delivering I would be fine financially and I am not convinced the work I produce has a major impact on anything...and yet I still can't do anything other than my best work and worry that I may have made mistakes.

michaels

kimwp said:

Four days a week is the way to go. I do five in four at the moment so it's long days but it's a much better balance of working to non-working days. 

I do between 3.5 and 4.5 in theory days over 5 worked days as I found working 5 full days physically and mentally exhausting however I am pretty rubbish at actually working the shorter hours but do get value from not starting until 10 especially on a working form home day.

Talking of which the pressure to increase days in the office is a very good reason to go sooner rather than later - each extra day in London costs me £1k pa out of taxed income (even taking sandwiches to eat) and 2.5 hours of my precious time commuting - and that so I can be in the same building as some of the people I am in teams calls with.  No value for me and none for the organisation.

Pat38493

michaels said:

kimwp said:

May I ask - those who are leaving jobs that are making you stressed/burnt out - how are they making you feel that way when you know you can leave?

Phossy said:

FWIW, I don't plan to retire just yet, but I could. Even though I know that, it doesn't make me care any less about what I do and I will continue to try and do everything to the best of my ability and worry about it until the day I retire (or expire!). It's in my nature. 

It is weird.  If I were sacked for not turning up or not delivering I would be fine financially and I am not convinced the work I produce has a major impact on anything...and yet I still can't do anything other than my best work and worry that I may have made mistakes.

Yes this is a bit similar to the situation I am in.  I have just turned 55 and even if I was kicked out or walked out tomorrow, my plan is "sustainable" but the worst case scenarios may require "simple adjustments along the way".

I would have thought this would make me much more confident and never worrying that colleagues or managers don't think I'm doing a good job or whatever, but I don't feel as liberated as I might have hoped yet.

cloud_dog

cloud_dog said:

eastcorkram said:

squashtraveller said:

There must be something in the air!? I also confirmed to my line manager that I am going this year (end of August). I have been thinking about this for some time (years as my suffering partner would say) and experienced some of the feelings expressed (e.g., worrying if I will have enough money, what will I do etc). Given the balance of where I am, that I dont like what I am doing and we wont be destitute, I decided the time is right for a change. I wish all similar posters the same best of luck for a great 2024.

Is there a reason why you and the OP are giving so much notice? Is it in the contract, or is it just out of courtesy? I'm thinking of finishing in December, but wasn't playing on saying anything until November or possibly October..

I was going to ask a similar question 😁

We had a early retirement plan that was set to finish July 2026, but with work becoming increasingly difficult/frustrating, the plan was brought forward to April 2025, and now we are looking at November this year.

Perhaps I'm feeling more petty, but it is not my intention to tell the business until I hand my notice in, and with my contract only requiring a one month notice I am likely to be gone within a matter of a few days.  I will give my.colleagues plenty of notice and aim to schedule time for knowledge sharing / handover.  I just need to make it through the next one or two difficult months.

Just working out how to fund the 5 months until April 2025, e.g. from cash and then commence drawdown from FY25 or just go straight with drawdown.

We've been talking it over some more and we have decided to commit to an R-Date of Thursday 31 October 2024 to hand in our notices; so I'll be just about 58 and the 'other one' 56.

One of the 'challenges' (sic) I'll have is that I carried over a large number of annual leave days, and with me going in November, I am unlikely to waste those days by just booking the odd day / week off, and will likely hit R-Date with around 20 days remaining (Damn, I might have to move my R-Date to be 1 November, as I accrue 2.5 days leave each month, and I'm unsure what the calculation would be if I handed in my notice on the last day of October - Poo more investigations).

I will need to double check that I am still only on one months notice (from 30 years ago).

In getting to where we are now, I have become obsessed with financial efficiency, and I need to start to learn to let the reins go a little.

There has been some commentary on why people still work so hard when it is obviously not very enjoyable; for me it really comes down to the area I work in and the clients I work with and for.  The employer, not so much. 

Firegirl

michaels said:

kimwp said:

Four days a week is the way to go. I do five in four at the moment so it's long days but it's a much better balance of working to non-working days. 

I do between 3.5 and 4.5 in theory days over 5 worked days as I found working 5 full days physically and mentally exhausting however I am pretty rubbish at actually working the shorter hours but do get value from not starting until 10 especially on a working form home day.

Talking of which the pressure to increase days in the office is a very good reason to go sooner rather than later - each extra day in London costs me £1k pa out of taxed income (even taking sandwiches to eat) and 2.5 hours of my precious time commuting - and that so I can be in the same building as some of the people I am in teams calls with.  No value for me and none for the organisation.

I get this! I’m contracted 7 hours a day and regularly do 10 hours +. I go to the office to do calls with people in HK, Lux, India and Singapore. Time zones mean I’ve to get to the office for 7:30 am! Bonkers but I don’t actually mind getting out of the house and treat myself to a coffee on the way!

Smudgeismydog

Congrats @cloud_dog, I know I will also miss clients, and that’s been hard for me to get my head round. Like you, I have also kept a tight rein on my finances for a long time, and I’m not sure I can just let go, but I feel we will probably change to a different kind of monitoring.

I have said to my manager if there are meetings where they feel my input would be useful, then of course I will help, but I have just started to delete stupid, pointless meetings out of my diary 🤣

I’m really starting to feel like I’m in the run down to retirement, and it’s great!

cloud_dog

Smudgeismydog said:

Congrats @cloud_dog, I know I will also miss clients, and that’s been hard for me to get my head round. Like you, I have also kept a tight rein on my finances for a long time, and I’m not sure I can just let go, but I feel we will probably change to a different kind of monitoring.

I have said to my manager if there are meetings where they feel my input would be useful, then of course I will help, but I have just started to delete stupid, pointless meetings out of my diary 🤣

I’m really starting to feel like I’m in the run down to retirement, and it’s great!

I'm looking forward to getting to that state of zen