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Original poster

Realistically, what age do you expect to retire, if you're in your 40s now?

200 replies

LoyaltyBonus · 12/10/2019 17:27

State pension age will be 68 if not older.

I already know I'm slowing down. I'm very experienced and good at my job so I can get away with it for now but I know I'm not as productive as I was when I was younger.

My parents retired young (in today's terms) at 59. They've had a healthy, active retirement but now, in their early 70s they and their friends all have health issues that would make a full-time job difficult if not impossible, even though they are generally "well" for their age.

I don't know how it's possible for most people to work to 68, certainly not anyone in any sort of physical job.

So, doesn't extending retirement age just mean we'll have lots of people "on the sick" who would previously have been claiming their pension?

I know people can/should be making provision to allow them to retire earlier but I think for most that's a privilege for the relatively well off and many manual labourers/care home workers etc don't fall into that category, Could we really have 68yo care assistants etc?

OP posts:
milveycrohn · 12/10/2019 19:36

It is the State Pension that is now at 68. Occupation pensions may sometimes be claimed earlier, depending on the pension rules, etc, though obviously at a lower rate.
The problem is if one is made redundant late 50s, etc. Then you will need something until you get your pension. The same applies if you have a very demanding job, or physical job. I think it quite likely one will have to get a 'stop gap' job, or have savings to fill the gap.
Meanwhile, if you are in your 50s, emphasize reliability and experience in your job to make yourself a worthwhile employee

Yellredder · 12/10/2019 19:37

I'm 50 and expect to retire about 70. My parents have just retired in their late 70s. Well, semi-retired really.

blue25 · 12/10/2019 19:38

My parents both retired at 55 and are still fit and active at 80. I can think of lots of things I’d rather do than work. Being retired doesn’t mean sitting in front of the TV all day.

I don’t understand people who actually want to work into their 60’s & 70’s. Life is so short.

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Retirement & pensions
Nextphonewontbesamsung · 12/10/2019 19:38

I was watching Mary Berry on Gardener's World last week (yes I am SO rock & roll). She is 84 and was talking to Monty about the challenges she was looking forward to with establishing a vegetable garden in a house she and her husband have just moved to after 30 years in her previous house. There was no hint from her that she's too old to do anything. I want to be like that.

RuthW · 12/10/2019 19:41

I'm 51. Health permitting I intend to work full time until I'm 67. I have a good NHS pension and love my job.

Northernsoullover · 12/10/2019 19:41

Never. I've no pension and I'm retraining. I plan to go back to work full time at 49 and try to get some semblance of security. It is what it is.

lljkk · 12/10/2019 19:42

Did not dare RTFT. I imagine I'm an outlier.
I'm not in 40s, but answering cowbag anyway.
I'm early 50s, & hope for retirement age 75-80yrs.

My dad is 77 & still working (PT). Feels fine to me.

noodlenosefraggle · 12/10/2019 19:43

I'm not planning on retiring completely but am hoping to do a gradual slowdown from about 55 to working very part time. Luckily I have a job that I can choose my hours and do as little or as much as I like. We have no mortgage due to my housebuying 20 years ago and more significantly selling a house in London and moving somewhere cheaper.

RJnomore1 · 12/10/2019 19:45

I’ve just turned 43; if plans go ok I’ll go part time in 20 years, or perhaps into consultancy on my own terms. Working on alternative income streams at present and a good LPGS scheme still helps too.

If plans don’t work out then 🤷🏻‍♀️ My dad didn’t retire until 70 he took early retirement at 50 and was back working within 3 months; his mother was still working in a bar in her 80s.

SoundofSilence · 12/10/2019 19:46

I've just hit 50. One pension due at 60 and the other at 65 but I'll have to keep going as long as I can as my youngest will be university age when I'm 61. DP has no pension and a manual job and says he will have to work till he drops. In a perfect world I'd like to quit my full time job and do something part time and low pressure to top my pension up for the last few years and enjoy some freedom the way my mother has.

lljkk · 12/10/2019 19:48

How many people can realistically expect to be able to do a full week of physical work at 65+?

some do. But most become senior which means sitting behind a desk supervising others. The HCA became a carer became a nurse became a senior nurse became in charge of infection control when she spent most her time writing & enforcing policies.

The labourer became a brickie became a small business owner (spent a lot of time costing jobs) became a teacher at FE college became a PT lecturer.

The roofer moved into flooring moved into plastering got bored with that & became a yoga teacher until he snuffed it at age 89.

Lindy2 · 12/10/2019 19:54

I think when I get to 60 I'll look at part time work to gradually move towards retirement.
I expect my DH to do the same.

We have a combination of rental income which we already receive and mostly save and pension plans.

Babybel90 · 12/10/2019 19:58

I’m 35 and I’m currently aiming for 65, unless I win the lottery or a long lost relative dies and leaves me a fortune, then I’d aim for 55.

Dollymixture22 · 12/10/2019 19:58

I don’t think OP was talking down older people, just being realistic.

We do slow down as we get older, sometimes mentally, greater extent physically.

My parents are in their late sixties and early seventies. They have a fabulous, active life and have had a second wind since they retired. But they admitted the working day had become a struggle.

I plan to fill my retirement with reading good books, long bike rides, volunteering, running and catching up with friends. If I wait till I’m seventy some of this won’t be achievable.

NotJustACigar · 12/10/2019 19:59

I hope to retire at 60. I have a civil service alpha pension which should kick in age 68 (it's tied to the state pension age) so will need enough in savings to get me through those eight years. Mortgage will be paid off by then.

My plan is to sell our house and buy a flat in London. I will spend my time as a museum volunteer and will also expand what I do now which is volunteering with the cinnamon trust (helping elderly people look after their pets). For holidays I will do house swaps with people wherever I want to visit. I don't understand people who don't want to retire! I have so many things I'd rather be doing than working (I do quite like my job but it can be stressful and I'd like a change). I'm 47 now.

BarbedBloom · 12/10/2019 20:10

Honestly, I don't know. I have rheumatoid arthritis and have had to drop to part time to cope with joint damage and fatigue. Sometimes now I can't get out of bed. Neither of us can afford to pay in much to private pensions as DH is on minimum wage and I was the higher earner. We rent a house and are both almost 40. I am concentrating on trying hard to get money together for a mortgage at the moment, which is also difficult. My DH may get inheritance if his parents don't need care later in life but my mum and dad both rent separately, so none from my side. My parents split when house prices had crashed so got no equity out of their house to buy again, which unfortunately also happened to me when I split with my ex.

I imagine I will probably end up on some sort of sickness benefit if I make it to my 60s and DH is in a physical job, so considering trying to move into some sort of office based job, but there aren't many jobs where we are and can't afford to move.

I am only posting this to show that we are one of the groups that will struggle as we get older. We may be able to improve our situation but for now I can't worry about 20 odd years in the future, we are trying to survive now

SomethingSpecialzz · 12/10/2019 20:11

Mortgage will be paid off at 53. Will work full time to 58 which will mean by then, I think, I will have enough in pension to to see me draw it at 68 and be comfortable....

In the 10 years between having enough in pension and wanting to use it I will either....
Work 4 days/week for 5 years (Saving half) or 2 days/week for 10 years.... I dunno I work in an office...

That is probably the most unrealistic plan ever ConfusedBlush

Husband works for Royal Mail and think his pension is ok.

Alarae · 12/10/2019 20:25

I'm only 26, but hoping to retire when I am 60 as I should have a sufficient pension (~26k) by then. Fully expecting either no state pension or a means tested pension by then, so not relying on it.

OH is nine years older, but also wants to retire around 60. His pension isn't as good as mine, but barring decades of care costs for his FIL he is set to inherit quite a large amount which will be a substantial safety net.

Mortgage will be paid off by 51, however we will look to overpay in a few years time to try and shave a few years off the term. We can then save between then and retirement for additional savings.

Beansandcoffee · 12/10/2019 20:25

At 30 I thought I would retire by 55. At 54 it looks like early 60s. A divorce really didn’t help especially since I’ve worked part time since having kids and my ex didn’t have a pension as his parents promised him inheritance which he may or may not get.

So moral of the story don’t count your eggs until they have hatched

Cailleach · 12/10/2019 20:34

I won't be able to afford to, but my father 's side of the family all die of heart attacks in their 60's and fortunately I have the family trait of sky-high cholesterol.

AmelietheAlien · 12/10/2019 20:46

I don’t understand people who actually want to work into their 60’s & 70’s. Life is so short

People are different! I watch one set of in laws who took early retirement spend their days pottering around - no thanks!

Step MiL took early retirement at 50 and god has it aged her. She packs her days with walking groups, yoga and volunteering with fellow bored retirees.

Missteebeee · 12/10/2019 20:57

Not until I’m at least 60

thatmustbenigelwiththebrie · 12/10/2019 21:00

I'm 38. I don't mind working until 68. I think it's a reasonable retirement age. My parents retired at 60 and were really bored and just did lots of volunteering. Might as well carry on working and economically speaking, with life expectancy increasing, the current model just won't work.

polkadotpixie · 12/10/2019 21:01

I'm 35 & I fully expect to have to work until I'm 70. I don't earn good money so I doubt I'll be able to retire before I can claim my state pension alongside any private pension I manage to accumulate

lljkk · 12/10/2019 21:04

Retirement is such a major life transition. Maybe we don't fancy the change. I really like being productive with my time. I'd probably get lonely and feel aimless without work. I need to be too tired & ill before I'm dragged out.

Retired people watch more tv & have more sendentary lives than same age working people.