Thinking of semi retiring

[Kez200]

Has anyone done this?

Im mid 50s. Succesful and paid well but Ive been doing this for 30 years. Its very very responsible and the buck stops with me. Thats also quite draining (given my personality).

I have the chance to do something else. It will be equally well paid but for 1/4 of the time. It will enable me to have holidays (which I rarely get now and, if I do, Im always interrupted by staff with technical questions). Also my husband gets lots of long weekends and we could buy an old camper and explore a bit.

Also, should my parents need us Id be around, or our children have children, same really. But these are all "added extras" not exactly why Im doing it.

Financially we can do it, although my pension long term will suffer as I cant put away as much as I do now.

Does anyone have any experience to share? Any regrets? Mistakes to learn from?

Yay, good for you.

They say people are retiring differently these days, and having portfolio careers / jobs (more of a variety I guess) maybe that is what the pp meant. A change in lifestyle rather than stopping completely.

Just a quick question, what do you put on insurance, I put that I work part time but my main job is house person, I don’t feel I can put retired until I finish work completely or reach state pension age. I have obviously spent too long on the car insurance thread

You won’t regret it Kez200

It's not really retiring is it? more choosing to work part time and enjoy life more.

I've done this. I work three days a week now and have downsized my house to be mortgage free and reduce heating bills etc.

I love it. I have a fairly responsible job so keep my brain ticking over, but I also have time to see friends, get my hair cut, take myself off on day or weekend trips. I couldn't afford to retire, but this works for me. I don't need to buy more stuff.

Neither of my parents made particularly old bones and I have seen quite a few friends get cancer or die early for one reason or another (where do all these stats about everyone living to 95 come from? that's really not my experience ) so I am determined to have some time for me. Definitely do it if you possibly can.

Doriana how old are you if you don’t mind me asking? (I’m just being nosey) just interested to see what age people do this.

I'm not sure what to call what I am doing but perhaps it will be semi-retirement, or maybe quarter-retirement, or maybe temporary retirement.

I'm 61. Last year DM died (DF having gone 9 years ago) and when everything is sorted out I should have almost enough inheritance to clear the enormous mortgage. Then I was lucky enough to be offered a consultancy type job in the legal field on a paid by the day basis. So I have just agreed with the day job to go 2 days a week from September, and hope that with the legal job and the much reduced mortgage payments I can keep up my standard of living but only work 3 or 4 days a week office hours instead of the current 5 with a lot of evening catch-up.

There is, though, the outside possibility that having done the new job for a while, it could turn into a full-time one at a significantly better salary than I am currently on.

I've done it also , 'flexibly' retired las tyear , Its great !! I have my company pension ( but still pay half my salary into a new one to get more income when I do go ) And I have another one due to mature in December when I am 62. I work 3 days now but plan to leave entirely but the end of the year ..

Scion, I'm 56.

52 but Ill definitely still work. Just not full time (and the rest!).

I'm finding it harder to concentrate on work these days and it's difficult to get motivated. But I'm concerned that if I do finally leave work completely, that I will be bored and won't have enough to fill my time. I have a tendancy towards depression when I am under occupied.

What do retired people actually do?! I can't see myself being like my mum and just doing housework and watching TV all day, or like my dad and doing gardening all the time.

My parents, fully retired an in 80s, tend to have a tidier house than me, meet mates for coffee a lot, go to local groups for crafts etc, do gentle keep fit, cook properly, write lists of stuff for us to sort when we go around. They were great looking after our kids in school holidays too, when they were younger.

I am not looking at that life at all. I shall work and its high level stuff (same as I do now) just less of it. I think Im just looking at the issues I have now and trying to put them right and this move will work to do that. More a shift in employment than retirement as such. I guess I called it semi retirement as I have to be realistic and realise my pension investment days will be close to an end by this move, even though Ill not be drawing on it.

I've done it. Sort of. And I'm 47. I still run my own business from home though but it's very easy for me to do this due to the nature of work that it is

I did it even though I still have young children - well, one is still young - he's 12. And I made the decision to do it because I inherited a large amount of money.

So I'd say go for it if you feel you can afford to do so

For anyone still following, I moved one step further forward today. I feel slightly scared but also excited. The scared comes from having done this for 30 years.

Young people handle these changes very much better!

I was semi retired just before I was 50 and now in my 50s and retired and I love it.

But I do miss the office banter if I’m honest.

How exciting!

I'm going for it too. I'm dropping down to 2 days a week in September, and then stopping completely in January. I'm going to have a year off and then think about what I want to do next.

I'm only 3 days a week at the moment, but the nature of my job means that I actually work almost every day - it's just that I'm working at home and not being paid for it.

My family needs more than I am currently giving them, and I need tm break the cycle of constantly working, and feeling guilty that there's always more I should be doing.

Why not see if you could ‘step down’ gradually and plan the new role for a year’s time. Then perhaps go to a 4 day week for 3 months, then 3days etc. If your role is that critical it would give your employer time to find a replacement and for you to train them.

I was made redundant at 53 and promised myself I would only work part time from then on until I retired.

In the past 11 years, I have worked less and less hours and currently do 12 hours a week over three days. It's perfect as I also have a very elderly parent who requires hospital/doctors appointments etc. due to failing health.

I am aiming to retire fully at Christmas and this past 11 years have allowed me to slow down so that when the big day comes it won't be too much of a shock not going to work any more.

I am lucky enough to have a decent pension and surprisingly, when I get my state pension next year, I will be quite a bit better off than I am now as my salary is pretty low.

I would say just do it.

Following this with interest OP as I am similar age and professional job but just sick of the full time grind.

Would love to go part time in a similar job, 3 or 4 days a week. Have actually seen quite a few roles like this at the same FTE as current job so it's possible to find the roles just need to weigh up if I can afford the cut in pay.

I really want to find time for my writing and to do some formal studying related to subjects I have recently got interested in - just some time to devote to the things I really love.

Can feel my life ticking away - need to get the balance back!