Has anyone taken early retirement and regretted it?

[50teen]

I’ve worked full time in The same industry for almost 30 years. My role is a senior position and has been for approx 15 years. I’ve always fantasised about stepping down from the full time high pressure job in my mid 50s, which is a couple of years away.

Coincidentally, there is talk of restructuring and it is possible I could secure a decent redundancy package next year. I’m lurching between feeling excitement that this could all come at the right time, and panic about what I’d do with my time. I’d still like to do something for a few days a week but I’m frankly exhausted with working at my current level and can’t face another 5 years of it.

Has anyone done similar and did you regret it? How did you prepare yourself for such a change?

If you can afford it, it is likely that you will be much happier semi-retired with a part time less pressured job. Out of the retired people I know, maybe one in ten has got a part time job to keep busy, the rest find so many other things to do. Obviously if you need extra money to top up your pension, that's a different issue.

@woodlandwalker I think I’d be OK financially but would like someThing part time to top this up and also keep me active. It’s such a leap into the unknown after 30
Years in a corporate environment!

Dh and I have just retired after 25 years of working overseas. We are 52 and 53. The week is filled with voluntary work, gym, swimming, fitness classes, hiking...would like to fit in a couple of other activities, but restricted at the moment due to Covid. Dd is also still at school so some time is still spent ferrying her about.

I've done it this year and I love it so far!
I've still got school age children so have to get up and out of the house early which I think is definitely a good thing.
I walk a Borrow my doggy dog, ride my friends horse and meet friends weekly.
I do all the house stuff but never seem to have time to do the boring jobs!
I've also got a casual job that I just go to as and when im needed.
I am definitely much happier and am always able to do kids stuff, dentist, school work etc.
I definitely think you need something to fill your day, not just housework and need friends to meet up with otherwise I think it could get quite lonely.

Sorry, just seen how much I seem to like the word definitely

Not me, but I had a very sprightly colleague still working in his 70s as he was terrified of being bored in retirement (doesn't golf or have any other time consuming hobby, partner is significantly younger so still working etc). He took unpaid leave in lockdown and even without having anything open to do realised it wasn't nearly as bad as he'd imagined and has now made it official. He potters in the garden, reads, goes out for lunch now we can. He's loving life and wishing he'd done it years ago.

Don't worry

I took an early exit package. I didn’t really prepare for it and I found the first year unsettling and worried a bit about money but it turned out good in the end and when my mother was ill it was so much easier not to have to juggle work around her hospital appointments etc
I found a part time job and took on some childcare for a family member and now am thinking I would quite like to finish work completely and look after my new grandson.

This is all very encouraging, thank you. I think I need to start actively planning how I’d fill at least part of my week - possibly part time work, volunteering. Exercise etc. My main worry is that because my work has been pretty all consuming, I’ve had little time or energy to take on much else up til now.

I just feel a sense of dread at the thought of another 5 years!

It depends on what type of person you are. I have done it and find I can still find plenty to stress about. Just moved the goalposts. 😁. Seriously, it's fine. Was worried I would be bored during first lockdown so took a temp/seasonal job. Wonderful for a week then couldn't wait for it to finish.

My dad took early retirement and then got bored and did some consultancy and started a business. By the time he was early to mid 60s he was properly ready to retire. He couldn’t have carried on in his previous role. I genuinely think the stress would have made him have a heart attack. While he worked after he left the corporate job, he was much more in control and had choices over when and how hard to work. That is very different to needing to work.

Hi, I took redundancy at 50, after many years in a senior role. I now freelance/ self employed in my industry, as I did not want to start drawing my work pension until 55 (next year 😄). But I don’t think I will do that, and will keep working on p/t interim roles. I have elderly parent carer duties and uni student kids. If/when that ends, and my current clients dispense with me, then I will retire, liquidate my business and move rural with lots of cats. My redundancy paid off my mortgage, so do consider if yours can bring that security too. Good luck! I feared losing my comfort zone after a long stint in secure corporate world, but it’s all good!

We both retired this year, slightly early for DH, but several years early for me.
Our time since then has been mainly filled with clearing PIL's house selling it, sorting out the estate (due to death earlier in the year). We have been in a high level lockdown area for weeks (months?) so opportunities for doing anything else are severely limited.

I've discovered two things:
1 - I like structure to my day but DH doesn't, he just potters;
2 - However DH can't potter without company (me) or an audience (me) to listen to his running commentary on everything.

I'm glad to be out of the office for various reasons, but some days DH's behaviour drives me quietly bonkers

You haven't mentioned a partner, so the above may not be a risk for you!

I took early retirement and love it but some financial challenges meant I needed to earn some money last year.

At 64, I found no difficulty getting work that would earn me what I needed. Low paid, low stress work. Now I still work relief for one company so cover sickness (currently working quite regularly because of isolation situations). It's not well paid but I no longer do it for the money. It's lovely not having to work all the time and it's nice to have a bit of focus for a few days a month.

I think you will enjoy being retired but if not, and you don't mind minimum wage, it is relatively easy to get a few hours work a week

What sort of low paid low stress jobs are available to over 50s, and how do you find them? Or are there areas to look into retraining in? Obviously age may mean some vocations or physical work are less than ideal, not to mention ageism. Asking for a burnt out corporate workaholic who doesnt want to go anywhere near back to her former role or industry in any capacity, but still has awesome work ethic to give for another decade or 2.

Biggledy, I became self employed after a stressy long term career and now in my 50s. It may not suit everyone but I am a housekeeper/ companion for a lady with dementia and play scrabble and do crosswords all day with her. Low paid but very low stress and it’s just bliss.

These replies are really helpful, thank you.

@Biggledy that’s the bit I struggle with too, I’ve spent so long in the same field I have no idea what else is out there, or even where to start looking for other things.

A few of you have mentioned how this affects your relationship with your partner. I have a DP, but we live an hour apart, mainly because work work would make it impractical for one of us to move. I also didn’t want to make any changes until my DD (22) has moved out.

Given that these issues will resolve around the same time, there would be an argument for us moving in together. However, I’m a bit reticent about doing that as I’d like to get my new life established first. I will need to put effort into building new social contacts as this is something I’ve neglected due to work, and I feel if DP and I moved in together we might just become too dependent on each other. Also, he needs to carry on working for longer than me.