All this talk of over 50s returning to work has made me so down

[OneFrenchEgg]

I'm just over 50. I've had kids who are still at home, and I've never got to a well paid career yet but I'm trying. I don't have a pension to speak of. I want to save up and get some treatment as I'm so embarrassed (my whole life) by one part of my face.
But all today the radio had a phone in about people being encouraged to leave the financial and emotional comfort of their 50s and go back to work, and how they are enjoying having no mortgage etc or looking after grandchildren and maybe they could do a little pocket money job now they are too old to chase a proper job again.

I feel like I'm suddenly too old and I didn't realise. Like I've been dealing with life and it's run out. I still have a huge amount left on the mortgage. I feel like I've done life wrong. I'm so surprised at how much this has knocked me - is anyone else feeling the same?

My mum is 60 her kids and grandkids have now grown up so definitely no caring responsibilities. She retired at 57 and has no mortgage but I think she regrets it now, she’s bored out of her mind!!!! She was too young. Old before her time now I think.

OP I think we heard the same phone in.

Most of the people phoning in with comfortable retirements were men. Plenty of women texted in saying it was a crock of shite.

Oh and loads mentioned ageism in the workplace.

I think the idea of retiring in your 50s is faintly ludicrous tbh. Way to make yourself older!

Why would retiring in your fifties make you older? I am nearly 60, been retired almost 2yrs, and feel younger, fitter, more energy that I ever did working! I have a Labrador who gets lots of walks, we have a motorhome that I can go off in alone (DH is still working, but I actually have better pension provision than him). I am never bored and love life without the constraints of work.

I know quite a few people of my age and younger who have retired in last 5yrs or so, so generally mid 50s upwards - a lot of them are women, and have better pensions than their partners. There are still many people that have final salary pensions (only one that I know is public sector, others are private), some of which pay out at 55, or at 60 and they cover intermediate years with savings. One of my colleagues finished just before me, at 52! He had been planning his retirement since his 20s.

As per @HyacinthBridgerton dad, none of us made major financial decisions, but we all bought houses young, none are divorced, all worked after DC and most have lost their parents so had some inheritance (mine was quite small but has helped).

I have no plans to go back to work, whatever Rishi or Jeremy tell me to do.

I don’t, however, know anyone with GC in their fifties, most of my friends have children still in their early/mid twenties.

If it helps, I’m 41, about to borrow lots more on a mortgage on a 25 year deal, have a 2 year old and am pregnant. I will not be in a position to have a pocket money job til waaaay past my 50s! I think some people in previous generations could do this more but less so now. Eg my teacher parents retired in their 50s but that would not be the case today. Not for me, anyway!

LBC? I think it was this afternoon, I was in and out the room as it's been a cleaning/sorting day. Good to hear it wasn't universal, think the whole premis this was a thing really hit me.

My god at 50 my youngest will be 12. I’m retraining at the moment. Mortgage until 60. Please don’t worry op. I know a women who can retire at 47, we were hanging out last week and I felt bad for her. She seems so old, like she’s at the end of something rather then in the midst of it all.

I think they have picked on the age 50 as it sounds better than 60. They know 60 plus year olds like me are having too much fun 😂 Go back to teaching - no f way!

My mum had 10 grandchildren by the time she was in her late 50s, some of them were teens. She has a huge pension as she earnt a massive public sector wage/mortgage free etc. I think on reflection she does regret retiring so soon though.

I don’t know anyone who retired in their 50’s, and very few who’d paid off their mortgage by then.
Most people I know have retired late 60’s, are the ‘sandwich’ generation and are desperately juggling balls.

My dad is73 and he still works. Who retires at 50?! I'm not expecting to retire until I'm 68 and I'd say I'd probably keep doing paid work after that.

I’m in my mid 50s, as are pretty well all of my friends and no one is retired, no one is even considering it as far as I know. There are a couple of SAHMs who never went back to work due to DCs having disabilities but everyone else is still working, including those with young grandchildren.

The average age of becoming a grandparent is 63
The average age of paying off your mortgage is 57-59.

I'm surprised at these ages and cant relate to it!
Virtually everyone I know in their 50s is a grandparent. I seem to be the odd one out!
Even in my office, the deputy manager has 6 grandchildren and he is 48, the other deputy manager has 8 grand children and she is 56.
Our project manager is 56 with 3 grandchildren.
All my close friends aged 49 to 59 have at least two grandchildren.We all have our mortgages paid. All accept one is retired and that was at 55 and went straight back to the same employer a couple of weeks later as an agency worker getting a better rate than when she was working .
I think the idea of retiring in your 50s is faintly ludicrous tbh. Way to make yourself older!
My dad and 2 uncles returned at 55. Absolutely no way did it make them older! Talk about living your best life. For the last 25 years mum and dad have travelled extensively, done what they wants, have a fabulous friendship group and have a great time. Nothing faintly ludicrous about that at all.

My friend who retired last year at 57 is now applying for jobs. She's bored and skint.

I'm grateful to have built my career in my 40s and got my best job yet at 51. And I'm definitely not finished earning or competing at work.

Travel sounds like too much hassle to me and gardening/walks etc is nice in the evenings or at the weekend.

Also now you can't be legally discriminated against and there's an employee's market with plenty of skill shortages, I really don't think anyone starting again in their 50s will have anything like the sort of problems that were experienced even 10 years ago.

I'm exactly the person he's looking for, in my 50s and wanting to return to the workplace after decades away. I'm looking forward to these juicy incentives they're not going to offer. & have you heard they want to raise the retirement age to 68?

people being encouraged to leave the financial and emotional comfort of their 50s and go back to work, and how they are enjoying having no mortgage etc or looking after grandchildren and maybe they could do a little pocket money job now they are too old to chase a proper job again.

Tbh, OP, the phone on is only pitching its message to a narrow wedge of 50yr olds. Most 50yrs olds are still working out of necessity, my DH is 57 and working. I’m disabled, but would still be working otherwise. They’re not trying to lure those 50yr olds back to work, because they’re already working. There are 50yr olds desperate to find a job, but can’t get hired- they’re not talking to them either because they are looking for a job. They aren’t talking to disabled & can’t work 50yr olds like me. They’re not talking to all the 50yr olds caring for disabled children, partners or elderly parents, as they can’t go back to work right now.

The only 50yr olds that are not working, but can be lured back to work are the ones that left with the financial resources to retire early. So I know it’s difficult to hear but don’t think for a second that it’s how most 50yr olds are living.

Sothere are people decided to retire early about 5 years or so ago when their nest eggs were looking nice and tidy and interest rates low. Problem is their pension pots haven't done as well since the pandemic and the whole Trussonomics thing and their pots are not looking so good. I know a few looking to go back to work. How easy that is in practice I don't know.

It is definitely not the norm in your 50s to be retired but there was a segment of the population who were told they would be OK if they retired early.

I’m 49. I have a 12, 14 and 18 year old. I don’t know anyone who is retired. My parents worked until they were in their 60’s.

We have paid off mortgage and have been saving for university since eldest was born.

I'm in my 40s and expect to retire in my 60s, hopefully at 60 if I'm really lucky. I have two DC at primary school at the moment and by my mid 50s will probably be paying two sets of uni fees so as pp said will need to be earning more than ever.

Hopefully by 60 my DC will both be graduates and working/financially independent but there are so many young people in their 20s priced out of homes already I dread to think what it'll be like in 15-20years time.

I am putting you in my box of 'people who did it right'! Had to remortgage when one went to uni

My youngest will be 13 when I am 50 and my mortgage is about £400k on 23 years. I earn £100k, I wouldn’t even consider retiring in my 50s, had no idea it was a thing unless very rich.

Tbh, OP, the phone on is only pitching its message to a narrow wedge of 50yr olds. Most 50yrs olds are still working out of necessity, my DH is 57 and working. I’m disabled, but would still be working otherwise. They’re not trying to lure those 50yr olds back to work, because they’re already working. There are 50yr olds desperate to find a job, but can’t get hired- they’re not talking to them either because they are looking for a job. They aren’t talking to disabled & can’t work 50yr olds like me. They’re not talking to all the 50yr olds caring for disabled children, partners or elderly parents, as they can’t go back to work right now.

That's really helpful thank you for breaking it up like that. It's easy to forget you aren't the only one.
Really glad I posted and have had a reality check, it brought all the 'I've messed up doing life' thoughts I harbour somewhere.

Honestly, I have no idea where they get this shit from. I'm early 50's and will be working until at least 67, state pension age for me. I 'think' I'm past the age where any changes to the pension age will affect me, but never say never. I'll have to work until I get that anyway.

though not at all sure how I'll manage on the state pension, it's peanuts!

I pay into a pension now but it'll amount to pennies.

life didn't go to plan in any way & I'm single, paying my mortgage & everything else by myself. I chose to throw myself off the treadmill of my decent career & travel/work in interesting places overseas etc. I don't regret it, but the job I have now will end in about a year, then I'm pretty fucked if I can't sort something else out as the same job elsewhere will be very physical and with a few health issues & a life changing accudent 2 years ago, I just won't be able to do it, plus there aren't many positions, like mine, near here.

brain fog (not sure due to illness, accident or menopause) is really bad, so I'm quite limited in what I can 'retrain' to do.

if I were a horse....

TLDR:

@OneFrenchEgg you're FAR from
alone 🌷

More than a little pissed off at increasing the pension age to 68. I have worked all my life in caring/ nursing roles. I started before the no lifting policy and am physically worn out. I'm awaiting neck surgery. I wont make it to retirement age. I have a pension but if I leave now will get 10,000 a year at 67. Now need to work even longer.
Why are we focusing on the over 50s how about younger adults that have never worked.

The only people I know who retired in their 50s are my parents and grandparents' generations who are now in their late 70s/ would be in their 90s/100s if they were still alive.

All the places I know that are heavily reliant on volunteers used to depend on these pensioners in their 50s and 60s but they're just not there any more.

I'll still have a mortgage and a child at school/university until my mid-60s.