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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:
hettie · 13/10/2019 22:21

I think it depends on your relationship to your job. The are lots of aspects of my job that are really fulfilling and I'd do in my spare time anyway... If miss it if I 'retired'. I think I'd feel restless and unfulfilled. But if it's just about the pay check and grinding through it turn it's quite different.

Switcher88 · 14/10/2019 12:11

I'm finding it quite depressing reading how much you all love working! I've never been in a job I love, if I won the lottery I'd definitely quit.

A PP upthread was quite sneery about retirees volunteering which I think is a shame. As part of my current job I work with volunteers and they are amazing, they really do a lot of good in the local community.

LuItaliana · 14/10/2019 12:58

I agree with you Switcher88 Almost all retiree's I know do some sort of volunteer work. I think people underestimate how much will be lost if they all have to be in work instead, my local library for example is run entirely by retired volunteers.
Also so many people say they will work part time, are there really that many part time positions available?

Interested in this thread?

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Retirement & pensions
Bluesheep8 · 14/10/2019 13:07

I'm 46. I can't see that I'll ever be able to retire.

Hester54 · 14/10/2019 13:31

After seeing my Mum pass away at 76, then my dad 2 years later at 83, the last 6-12 months of their lives were a real struggle and money was no help to them, in 55 now and I’m really thinking of retiring and enjoy what time I have left, I’ve worked hard since the age of 16, if you have your health use it while you can, you never know when it’s going to be taken away from you.

soulrunner · 14/10/2019 13:32

I'm finding it quite depressing reading how much you all love working

It’s not that so much as I think I’d find 30 years of being out to grass a bit much. I can think of things I’d like to do, for sure, but these things often aren’t as pleasurable if they’re always an option.

Hester54 · 14/10/2019 13:34

soulrunner Why do people think of retirement as the end of their lives not a new phase and new opportunities, your along time dead,

soulrunner · 14/10/2019 13:38

There’s nothing I can do retired that I can’t do working though really, is there?

ClientListQueen · 14/10/2019 13:42

My dad is 70 this year and still working 50-70hrs a week in a physical job

Hester54 · 14/10/2019 13:46

Can you wake up when you want, do what you want on a daily basis, spur of the moment decision, go to the beach on a rare sunny day, take the dogs off for a nice walk and a pub lunch, holiday when you want, no more got to get everything done at the weekend, look after the grandchildren when you want, out for lunch’s with your other retired friends, visit places during the week when it’s less busy, etc etc. ( unless your the boss, which you probably do this anyway, or working from home as it’s called )

soulrunner · 14/10/2019 13:59

Yeah- my job is quite flexible I guess so I’m probably atypical. I can switch my hours around to suit. I get that it’s nice to have no obligations for a bit but I think I’d get bored of it after a year or so. Maybe PT is my sweet spot because I can do the things you list, albeit not on the spur of the moment so it’s not like I miss doing them. I don’t sleep in, have a dog or have any desire to look after gc though.

SerafinaPekkalasbroomstick · 14/10/2019 13:59

I'm in my late 30s and don't expect I'll ever be able to retire. I have multiple workplace.pensions from old jobs that all say they'll pay under 1k a year. I have a huge mortgage. Yep planning to drop dead at work. DH should be able to afford to retire so maybe he'll sub me.....

AuntieMarys · 14/10/2019 14:00

soulrunner Oh they are pleasurableSmile
I'm having a lot more fun being retired than when I worked. And I enjoyed my job!

PaperAeroplanes · 14/10/2019 14:22

Feel quite conflicted about private pensions. Both my parents died (cancer) before they drew theirs down. DF literally worked until he died at 69 (senior professional role, on sick leave due to cancer but still keeping an eye on things). Genetics being what it is I feel I may go the same way.

Feel quite guilty that my siblings and I are benefitting from their hard work.

Having said that I do pay into a private pension and can't see myself retiring although I only work Pt at present.

Hester54 · 14/10/2019 14:26

I think it comes down to a number of things,
If you like your job, day in day out, lucky you and you still got your health and nothing else you would like to with your time left, carry on,
If your job is dragging you down day in day out, just look forward to the weekends to enjoy the things you like to do, retirement seems like a good idea, as I’ve got older any seen my parents pass away and a lot of other people, it puts it into perspective, good health is your wealth,
Yes trying to work out how much money you need is a hard one, but from what I’ve seen, if your lucky enough to get into your late seventies early eighties, you’ve done well, but you you will not be spending much money as with age your desire and ability to things decreases,
Make the most of your late fifties to early seventies,
Yes there will always be exceptions to the rules

Lolly86 · 14/10/2019 14:35

No savings, renting, pay minimum into my pension as I cant afford to do more. Work 37.5 hour weeks as a nurse....retirement doesn't seem likely to be honest Confused

IceCreamConewithaflake · 14/10/2019 15:04

70

Ginfordinner · 14/10/2019 17:10

A PP upthread was quite sneery about retirees volunteering which I think is a shame. As part of my current job I work with volunteers and they are amazing, they really do a lot of good in the local community.

How can anyone sneer at all the wonderful volunteering work retired people do? Confused
There would be no coffee shops in hospitals and the charity shops would have no staff.

If I am put "out to grass" before I am ready to retire I will definitely do some volunteering.

Rickandportly · 14/10/2019 17:12

Shit, minimum wage care job.
I’ll be doing it until I drop.

PaquitaSalas · 14/10/2019 18:51

I'm hoping to retire in 5 years at 55.

I think I will be more active physically and cognitively as I will have plenty of time to exercise/ read/ learn languages/ cook healthily and economically.

Anothernotherone · 14/10/2019 19:07

Hester54 that's an argument for working part time, but doing what you describe and nothing else sounds so lacking in purpose.

You can't get up when you want and holiday when you want if you have dogs anyway can you? It sounds a bit delusional.

For people whose souls would slowly rot if condemned to potter about having lunches and going on walks, doing gardening and looking after grandchildren, working part time is an ideal solution while healthy.

Having a really enjoyable retirement would require a higher income than required while working, to fun lots of adventures.

The reality of most people's retirements sounds so mundane and dreary and unfulfilling and just so completely pointless.

I need my life to have a point. Feeling pointless when my youngest started preschool was the reason I retrained and started a new career when I could have sat on my arse (or spent my days gardening and crafting and walking dogs) while the children were out of the house. Plenty do, but it feels so parasitic and mundane.

I'd always rather be useful, which is why I chose an interesting and socially necessary job.

There are lots of things I'd like to do when working part time and no longer responsible for department children - none of them require giving up work completely, and people who do retire before their time seem to become insular and dull quicker than those who don't. It's unappealing.

Anothernotherone · 14/10/2019 19:12

Dependant not department!

DrMadelineMaxwell · 14/10/2019 19:59

I'm a primary teacher who's mid 40s. I aim to hopefully retire from full time teaching by the time I'm 60. We have phased retirement as a possibility, where we can drop a day a year in the run up to retirement age without it affecting things too much. If the ht I have at the time is for that, I may take that option.

I've had MANY years pt after having 2 dc, but I also wisely (without really antipicating how useful it would be) took out an AVC additional pension when I was newly qualified. I've been paying into that for 20 plus years, which should cushion the cost to my pension contributions that maternity leave and pt pay brought, and I still pay it now I've been full time for several years - and I will carry on paying it too.

At some point, I will have a younger ht than me who doesn't value staff with plenty of experience which may directly affect what age I intend ot retire at.
There will always be 1-2-1 or small group tutoring to move into doing once I feel that keeping on top of a class of 30 boisterous primary pupils is beyond me.

Hester54 · 14/10/2019 20:35

Anothernotherone I work with old people, I can tell you none of them have ever told me they wished they had stayed at work longer, if anything they all wish they had retired earlier, that's the ones that have still have there faculties about them, The people range from 54- 98 including one chap (74 ) who had very quick on set of dementia, he pushed his wife of 50 years down their stairs, broke both her legs, one arm and is still in hospital, He does not know he's done it and keeps asking where his wife is. Your wealth is your health, If you want to sadly work on in old age, so be it, if you can, but your health might not allow it, perhaps you need to find more things to do outside of work and not let work define you, don't live to work, work to live,

Hester54 · 14/10/2019 20:37

Anothernotherone sorry forgot to add, why does your life have to have a purpose ? can you not enjoy the wind in your hair, glad to be alive, etc etc