Bold leap into retirement

Smudgeismydog

Congrats @Vespaboy, your comments echo exactly how I feel. It is a bold leap, but now you can start thinking about what you and Mrs VB would like to do with your time

Are you happy to share your numbers?

SouthCoastBoy

I think I'm getting close to retirement, planning to wait until 60, which is 11 mths away but have 3 mths notice so in reality 8 mths away. Just hope I'm brave enough to retire, not convinced I am

Smudgeismydog

@SouthCoastBoy only you can make the decision, I appreciate that at 50 it is a brave decision I’ve made, but I’ve gone over and over my figures, discussed with my partner and also with a trusted financially savvy friend as well as posting on here for additional commentary.

I am also very open to taking on some form of paid employment somewhere down the line if I want to (like Vespaboy, this would be on my terms for social or mental stimulation).

If you still enjoy work and spending time with colleagues then good for you. I honestly reached the point where work was causing me to feel frustrated, anxious and negative and I started to bring these feelings home. I have also saved hard for a long time, and then started to think what have saved it for, if not to use it to allow me to make this decision for myself and my family.

We are all rooting for you, in whatever you decide 

tooldle

Almost at the end of my third month of early retirement (I’m just 54). All going well. Plenty to keep me busy and enjoying some quiet days / afternoons of doing relatively little. Popping back to work for a one day conference next month, it seemed like a good idea when I agreed to it late last year. Not sure how it will go, but as I’m not missing work there is a chance  I might not enjoy the day as much as I used to. 

Smudgeismydog

Thanks for popping by to update us on how you are getting on @tooldle, it sounds like it’s all working out really well for you, I’m so pleased
It will be interesting to see how you feel at the conference, it might be nice to catch up with people you haven’t seen since you left, but it might also reaffirm why you retired 🤣

Askfirst

Smudgeismydog I will have 12k DB and 300k DC pot to play with plus other savings. It won't make for a fur-lined retirement but with no mortgage and full SP due in a few years, it's a big relief all round.

Askfirst

My post somehow missed off a couple of sentences explaining how I got to be retired!

So the decision was made for me following a departmental shake-up. Could have been a number of reasons but can't say that the atmosphere was toxic or the work too stressful. Probably let go for the same reason that finding another job was impossible given the current state of the economy. Flies in the face of govt imploring older people to keep working. 

katejo

poseidon1 said:

Kniphofia7 said:

My replacement was put in post in January after I'd told my manager last June that I'd be retiring in March.  They only offered her a fixed term contract for 12 months, so after spending 4 weeks training her she left for a permanent job.  So now the team will have no-one to replace me for a few weeks until another person can start.  My last working day tomorrow.

I recall as head of my department I gave 6 months notice of departure. There seemed no attempt to find replacement ( i would have needed to interview candidates to determine suitable/relevant expertise). In the last 2 weeks I asked why there had be no attempt to find a replacement - transpired they did not believe I was really going! Left with no head of dept in situ.

Are they doing something about it now? I only have to give 1 month's notice on my job but I have hinted at perhaps going next year.

katejo

SouthCoastBoy said:

I think I'm getting close to retirement, planning to wait until 60, which is 11 mths away but have 3 mths notice so in reality 8 mths away. Just hope I'm brave enough to retire, not convinced I am

About 9 years ago I said that I would go at 60 but I haven't and I am now 61. It got a bit scary as I got closer

Florafauna

I handed in my notice last week and will be working till the end of the academic year as I work in education. Turning 58 in May and cannot wait to stop work. If I wasn't retiring, I would have left as the stress and pressure of the last few years have been awful