Motivation and Inspiration pre-retirement

LateStarter

Well, I'll be 60 in a couple of months, and my spreadsheets and projections say I should be able to retire at 62. Since I mentally set my self up to do this, I find I'm totally not motivated at work - I get my "hard" deadline projects done on time, but I just dawdle on others. I dread going to work, and the days drag - I like my immediate team, but I feel no loyalty to the company (the management changed a few years ago, and despite the early promises, it's all about the "metrics"). I've even got a countdown spreadsheet with "number of working days left" ticking down. 

Any advice from others on how to handle this? How to keep some interest in work, when your heart isn't there any more?

Organgrinder

For me, going part time has helped. It splits the week up and I no longer get that Sunday night feeling.

Obviously there's a financial implication but it has helped keep me going. 

BridgetTheCat

Bookmarking because I want to see the answers! I’m 55 and have decided to go at 60, but since I made the decision I’ve also been feeling a bit demotivated. 

LateStarter

Organgrinder said:

For me, going part time has helped. It splits the week up and I no longer get that Sunday night feeling.

Obviously there's a financial implication but it has helped keep me going. 

Part time isn't an option for me - unless I change jobs. But then less money in for the next 2-3 years means 62 may not be possible. And to be honest, after 25 years in this job, there's a bit of fear about changing jobs too. 

Alnat1

If you're hating work, just go at 60. Don't stress another couple of years and make yourself ill.

Retiring 2 years earlier than the spread sheet says means 2 extra, happy years of your life to do as you please, while you're healthy enough to appreciate it. Who cares if funds are getting a bit low when you're 80....90... (if your brain can still function then)

I retired at 57 and am now fitter than I was for most of my adult life. I have time to swim, play badminton, do pilates and go walking. I can go on holiday whenever and as often as I want, without having to book it through HR. To be honest, I don't get that feeling I "need" a holiday anymore, every day is one, although I do love going away to new places.

Almost everyone I know who has retired in the last few years says they need less income than they budgeted for, go for it!

Smudgeismydog

I agree with @Alnat, life is too short and we don’t know what’s around the corner, you may also find you need less in retirement than you thought. Don’t waste 2 years of your life dreading going into work and feeling the days drag. 

You mentioned you could perhaps go part-time in another role. I appreciate this might feel a little out of your comfort zone after 25 years in your current role, but then the new job might offer something different which doesn’t mean it feels like time is dragging.
Just a thought 

Albermarle

Well, I'll be 60 in a couple of months, and my spreadsheets and projections say I should be able to retire at 62.
You might want to post your figures ( assets and planned expenditure) on the Pensions Board. There are regular questions along the lines ' can I afford to retire?' and you will hopefully get ( mostly) good feedback.

LateStarter

Thanks for the feedback so far; a lot of it seems to be "retire at 60 instead!", but I honestly don't think I can do that - I don't want to spend the first 10 years of my retirement worrying if I have enough money, or think I can't afford to go on holiday. And I totally understand that's my mindset, and maybe needs to be re-examined.

I've put my figures into a couple of sites (guiide, whencaniretire). And on whencairetire.app my "success rate" drops from 97% at age 62, to 85% at age 60. Maybe I'm overly cautious, but after a 30 year career in engineering and data analysis, it's ingrained in me to follow the numbers.

@albemarle - I'll consider putting my figures on the pensions board, thank you - my previous forays over there tended to not be helpful to my mental health, as I ended up feeling my pot was inadequate. I've had a couple years post-mortgage of throwing a lot more into the pension, so yeah, maybe it's time to get some opinions..

QrizB

LateStarter said:

@albemarle - I'll consider putting my figures on the pensions board, thank you

Your thread from 2019 is closed now, but it would be good to see an update on how you've progressing towards your goal over the past 6 years.

I know what you mean about the Pensions forum in general - it sometimes seems full of millionaires who are debating whether they can get by on £50k in retirement or not - but you don't have to read and participate in those threads

Albermarle

QrizB said:

LateStarter said:

@albemarle - I'll consider putting my figures on the pensions board, thank you

Your thread from 2019 is closed now, but it would be good to see an update on how you've progressing towards your goal over the past 6 years.

I know what you mean about the Pensions forum in general - it sometimes seems full of millionaires who are debating whether they can get by on £50k in retirement or not - but you don't have to read and participate in those threads

On the other hand maybe better getting financial advice from a Millionaire, than somebody who is skint 

Alnat1

LateStarter said:

Thanks for the feedback so far; a lot of it seems to be "retire at 60 instead!", but I honestly don't think I can do that - I don't want to spend the first 10 years of my retirement worrying if I have enough money, or think I can't afford to go on holiday. And I totally understand that's my mindset, and maybe needs to be re-examined.

I've put my figures into a couple of sites (guiide, whencaniretire). And on whencairetire.app my "success rate" drops from 97% at age 62, to 85% at age 60. Maybe I'm overly cautious, but after a 30 year career in engineering and data analysis, it's ingrained in me to follow the numbers.

@albemarle - I'll consider putting my figures on the pensions board, thank you - my previous forays over there tended to not be helpful to my mental health, as I ended up feeling my pot was inadequate. I've had a couple years post-mortgage of throwing a lot more into the pension, so yeah, maybe it's time to get some opinions..

If I put my figures anywhere it says we barely have enough to survive and pay the regular bills. 

In reality I'm just looking to book my 5th holiday of the year, 3 of the previous ones were overseas. Also already had 2 UK short breaks with another booked and paid for. 

Me and hubby have "survived" very nicely indeed on around 25K a year for the last 15-20 years, even when the kids were at home. This was the simple figure I used to decide if I could afford to retire at 57 and carry on a similar lifestyle.

I now get a small monthly pension and budget to use around 4-5K a year from savings until state pension kicks in. It's simple, it just works.