Has anyone retired early and regretted it?

[50andup]

I'm in my 50s, have always saved into pensions/ISAs and am now in the very fortunate position of being able to afford to stop work if I want to.

I know lots of people would think - that's brilliant and be off! But I'm wondering if I'll regret retiring early? After all, if I live to 100 , that's 45ish years of effectively being on holiday!

I've got loads of friends, already volunteer and have interests I could invest more time into, but is that enough? No desire to travel the world (done that already) or any very significant plans, so wondering if I'll get bored after a bit...

Has anyone else retired early and then regretted it later?

I retired at 50, it just so happened work closed down, steel works and excellent redundancy package and final salary pension which at that time you could take at 50.

I had 10 months to get used to the idea, finance were the last to go, we had £240m to get in, the debt was in export which had longer payment terms.

I had more fun thinking about retiring than I did actually doing it, after 3 months I hated it and got a part time job, well I actually went self employed and did accountancy work.

I'm 65 now and still work part time but I'm employed now, I might stop working in the next couple of years, but it scares me, I was hopelessly bored.

I retired from my job in my 50s -- I'd had enough with the commute and the office politics and was generally burnt out.
So when a redundancy offer came around and I could also take my pension early, I jumped at it.
This was over 10 years ago and can honestly say I haven't regretted it for a second.
But you do need a plan. My employer sent me on a three day pre-retirement course and i found that immensely useful.
So I joined an art class, a French conversation group, swam every day and baked lots of bread. I still do most of that. (Not the painting, i know my artistic limitations.)
I particularly liked, and still like, leisurely breakfasts with DH, excellent coffee and conversation. Sets you up for the rest of the day.

Retired at 58, don't regret it but I am back at work...... Just got bored! I am NHS though so can always work, age doesn't matter if your healthy enough to do your job.

One size does not fit all. It depends on multiple factors.
Whether the job you are doing is fulfilling and enjoyable. Whether you feel valued.
How many interests someone has outside work. Hobbies, friends, etc.
For someone who is single it might be lonelier than for someone who is living with a partner.
Disposable income. If you have a good pension it means money to do lots of enjoyable things .

So much is dependent on health, personality, friends, hobbies etc. I know someone who took redundancy from a job she wasn’t enjoying during the pandemic. She is now desperately trying to find another job at 60 as she has no hobbies or interests and no real friends. She’s bored stiff. I can’t understand why she doesn’t get involved in lots of things.

My father retired in his mid sixties and promptly started working again quite quickly as he couldn’t cope . He was working from home up until his death.

For some people being in a very stressful job will shorten their life and cause health problems. Retiring might be the difference between dropping dead or living quite a lot longer.

I've retired early due to ill health. I'm not sure regret is the right word but I'm not particularly happy with the situation. If I had chosen to retire and was healthy it might be different I suppose but I'm frustrated and bored currently. I've been doing a bit of voluntary work but just at the moment I'm not able to drive so have had to put that on hold for now and I am more or less housebound which is no fun at all. In some ways I'm glad to be away from work as I had a stressful job and a poor employer but I miss my clients and immediate colleagues greatly. It was a massive shock to the system to me but it's not been a normal early retirement - one day I was fine, next day I was seriously ill in hospital and I never went back to work. I think if it's something you can plan and you are in control of it's probably quite different. I think the point that someone made earlier about retiring in Spring if you can is a good one. I find the long winter days much more difficult. Finishing at a time of year when the days are lighter and it's easier to get out and about sounds sensible.

@50andup you're far too young to retire! It's not all about having plenty of money and pensions so you can give up work... the novelty will soon wear off... you said you only work 3 days a week right now and that it gives your week structure and that's a good thing! I know a few people who retired in their mid 50's. One got bored after 6 months so she went back to work in the same sector, it took longer to find a job and she got a more junior role but ultimately is happier working for now... another seemed to get 'old' and set in her ways overnight, complains about everything and probably has too much time on her hands now and should look for some part time work at least! Work is also a social experience especially for people who live on their own and keeps people 'with it'...

What is your situation? Do you live on your own, have children or grandchildren to help out with during the week? I think you shouldn't make any sudden decisions but instead think about all your options for a while before you do anything...

No. I retired at 57 and haven't regretted it for a moment.

I think the ideal is to have a vocational job that you don't want to stop doing. I think it keeps you young and feeling genuinely valued. I know someone who was still working, though not full time, in his eighties, including internationally. Which only stopped due to the Pandemic. Still highly valued for his expertise.

If you're fed up with your job, I'd consider starting a new career, which you can do at your own pace, while taking some pension. Do something you can enjoy learning about and building up.

Retired at 49 due to ill health, DH is 3 years younger than me and will probably retire at 60 though he can afford to retire early fifties.

How we can afford early retirement

Long marriage with shared expenses
Remained in a very nice three bed semi but didn’t go for the big four bed detached so mortgage was paid off in our thirties
Investments paid out
No inheritance for either of us

I'm mid forties and have been lucky to work part time since returning to work in my early thirties (I was a SAHM for five years before that and before that FT since uni). Because I've had a nice work-life balance over the last 12 years, I have no desire to retire for a long while. Working keeps me mentally fit, I value my time in the office and I like having a work-related purpose. In fact as the dcs are getting older I'm starting to want to switch my career up a gear and maybe go full time again sometime soon!

Over lock down I WFH throughout, although was furloughed for a bit too, and while the first few months were lovely (the hot weather helped) I think I experienced quite a drop in my overall motivation and became quite lazy. It's only since returning to the office that I can appreciate the insidious effect of being mentally bored over time.

I appreciate though that I've been lucky to work pt so don't have the knee-jerk desire to stop work for good. I think if there were better conditions for people, such as shorter commutes, longer holiday allowance, more flexible working from home etc, people would be less fixated on early retirement.

Perhaps I'll feel differently in ten years' time 🤷🏻‍♀️

@Antinerak

I wouldn't say I'm retired, but it's unlikely I'll be working again. I'm 24 next week, last worked aged 19. I get bored but have a house to keep up with and husband to clean up after. I have my own hobbies, have a very small business I work on sometimes and I have time to babysit my nieces and nephews. So far, I'm not bored.

There will always be a way for you to work again if you need or want to. Even if it's a part time job at somewhere with shit pay but good work. If you can, why not make the most of your life?

Can I ask, @Antinerak, if you chose to stop working? It seems like an unusual decision for someone as young as you to make. You don't mention children...do you have health issues that mean you can't work?

“Husband to clean up after”

I have a few friends in their 60s who retired in their 50s. They all ended up getting other jobs of one sort or another, but ones that they prefer at this point. Fewer hours, less physical/less stress etc. in most cases but one has built a whole business around a love that had just been a bit of a hobby before. She's possibly working harder than before she retired (and making less money!) but loving it, traveling, meeting people. I think it kind of funds her ability to really indulge her interest rather than being a way to ensure a wealthy retirement.

Dh and I retired early 50s, financially able to do this after working overseas for 25 years. We are both busy with voluntary work, fitness classes, learning new skills (language for me, wine courses for dh), parish council, matched betting, national trust visits etc. Dd is 15 so also meet people through her hobbies and activities etc.
I think it’s important to have separate interests/roles etc and not do everything together.

Well if you have a job which is of interest to others - barrister, police person etc it might seem that you have become boring when you retire, to other people.
But for you personally you are probably reading, studying, learning a broad range of subjects rather than just knowing about work, so you are less bored.

I haven't worked for 15 years😁* I'm 46. why would anyone work if they don't have to?

I think it's really sad that people think you will get bored or be boring. People have been brainwashed into thinking we should work until 70.*

Lucky you some of us will be working until we drop due to unfortunate circumstances. Not everyone can afford a pension, have paid off their mortgage, have inheritances or loads of disposable income. And yes I am bitter !!!

I probably won’t go until 65 but might do retire and part time return before that (nhs). Work keeps me mentally active and I wouldn’t want to be financially poor in retirement. My friends parents retired in their forties and they’re both bonkers. Has put me off.

I retired from the Army at 42 and thought with my military pension that I wouldn’t work again. However within 6 months I was bored, DH was driving me insane (also retired) and I was falling into a pit of doing ‘nothingness’. The highlight of my day was the school run, and that quickly became a chore I hated.

I went to work in a school as maternity cover, and at the end of that period (9 months) took another 6 months off to see if it was just a blip. Nope, was bored again and had no more decorating to do!

Went to work in another school, job expanded, retrained into another area and have been there 5 years now. I think I will probably try to finish at around 55 now when DD is either firmly in Uni or finished (depending on what she decides to do) and do more travelling to keep the boredom at bay.

I know someone who retired in her mid 50s from a senior management job. She hasn't been the same since, she regrets it. She's definitely aged a lot. She's not in her early 60s and she's lost her sparkle (I can't think of any other word to describe it). She's now developed anxiety issues and is terrified of taking any kind of small risk. She's single and very bored. She volunteers a little bit but like one or two others have said, she's quite dull. Cleaning the house is the only thing she has to talk about.

I reckon it's a different experience if you're in a couple. Or even if you have a plan or list of things you want to do and achieve.

I won't be able to retire until I'm practically 80! But if I could retire in my 50s, I'd probably work part time 3 days per week in a job I loved. I'd do that until I was around 65, then move to volunteer work maybe 2 days per week.

I plan to retire at 58 - no inheritance but I work in a well-paid job and we save my income and live off DH's. I could go earlier but want enough of a financial cushion to be able to travel a lot in retirement. I guess we're doing a version of FIRE (financial independence retire early - lots of information available if you Google it).

I think retirement is risky for people whose identities are really wrapped up in their jobs and who don't have a lot of other hobbies and interests. I have tons (playing guitar, wild swimming, walking the dogs, reading, kayaking, and want to spend a year living in a van and travelling Europe, etc). And I have causes I want to volunteer for. I really can't wait.

I'm nearly 63 and work part time, and have no plans to retire any time soon.

DH is an introvert and not very sociable. He also doesn't like going out much except to the pub or for a walk. He won't go to the theatre or cinema, see a band, visit any local markets, agricultural shows etc. He will go to a National Trust place with me under sufferance, and won't join any walking groups, U3A or anything that involves other people. Oh, and he has no hobbies other than walking or going to the pub.

When we moved here he made no effort to make any local friends. When I retire I will do all of these things and he will sit at home bored and complain that I am never at home. I couldn't live like him as I would feel bored and trapped.

I love my job. It keeps me sane, gives me a reason to get up in the mornings. I have a great boss and lovely workmates, I feel valued and appreciated, and I will continue to work for the time being.

I'm 51 and used to mostly enjoy work until the pandemic hit. I hate WFH and get no satisfaction from it - in Scotland so doubt we'll ever be allowed back in the office and even then the office is being redesigned so we only go in for collaboration purposes .

But I'm too young to retire and need the pension contributions. I'm hoping that voluntary redundancy will come up in the next couple of years and then I'll look to go contracting at a lower level of job.

In your shoes, I'd not make any hasty decisions until back to the office properly. If you enjoyed it before, you might once and if it's like it used to be.

I would @Antinerak post is a wind up! There's no way anyone would be genuinely happy with that life at 24 unless it's a cultural tradition...

I suppose it depends on what you do and if you enjoy it. Dad closed his business but would take on ‘interesting projects’ until he became terminally ill.