If you could afford to retire comfortably at 55, would you?

[QuickGuide]

There's nothing wrong with my job, I quite like it. I certainly don't feel the dread on Sunday nights.

I sometimes feel it would be nice to have more time but I don't really have any burning desires to spend it on.

I'm widowed, which I think is relevant on 2 counts. 1. I am aware how short life can be. 2. I don't have anyone to do things with. All the travel/ gardening etc that people usually cite can be done alone, but it's not the same as having someone to share it with. E.g I used to.love the garden but there doesn't seem a lot of point when it's just me in it, it was something we did together.

My friends would mostly still be working.

So, I could retire, I'm not desperate to give up my job, but I feel like there should be more to life than work.

Yes and did. Dh was 53 and I was 52. dd is still at school so we still have some restrictions on when we can do things but she will hopefully be off to university next year. I do a lot of voluntary work: retail, councillor, charity trustee and also do some invigilation work. We go to the gym, swimming, table tennis and also like to travel. Dh volunteers as a mentor, does wine exams and spends quite a lot of time ferrying dd around. It is rare that we are at home all day together.

I would go part time, to 3 days per week. Then with one of my new free days I would do some volunteering. Probably helping out at a food bank or listening to children read at a primary school. Then another day to just do something for myself.... most likely swimming in the morning then reading my book in a café.

I’m 55 and would go in a heartbeat . But have a mortgage that won’t be paid until I’m 72😢😢 so not going to happen sadly.

If I loved my job I'd drop down to part time.

I’m in my mid 40s so currently in the ‘HELL YES!’ camp, because I’m mid career jaded.

In reality, I’d cut down to three days a week if I could. Enough to keep things ticking over but less of a grind and time to do nice things.

I pretty much did this. Went down to very part time at 55, just a day or less a week, then gave up at 57. At 60 my health deteriorated so I would never have been able to carry on anyway.

A few comments.
Colleagues at work are not friends. It depends on your personality but I have only one friend from work and we go back 40 years.

Volunteering can be dull, tedious and unrewarding or it can be challenging. I have done plenty though. I did school admissions appeals for many years.

I have never met anyone who regretted retiring, all my friends are retired and most lead full, busy lives. A couple have allotments, some travel a lot.

Some effort is required if you are naturally lazy.
I do lots of things from pilates, walking, gardening, craft groups and yes, going out for lunches.

The absolute pleasure of no alarm for work never gets old.

So I would, if I could. I actually feel like I'm only getting going with discovering who I am at not much younger than you. There's so much I want to do, like travel, gardening, pushing myself physically with hill walking and running distances, I'd love to really learn the language I've started about a year ago....I want to write a novel....
I am married but I do most things on my own. I know that's not the same as you, but I truly believe these could be amazing years ahead.

I have a different view.

Get a job at 18 (from school) or 25 (from university) and soak up the knowledge of those with more experience. But question everything. Not because they are wrong, but you still need information.

Listen.

Don't talk. Listen.

At 35-40, start to map out your own plans for a successful life from all the information that has been coming your way over the last two decades.

Then its over to you. Take that knowledge and feeling into your body and soul.

Your training is over. Now you go out into the world and until you die you can influence people and make real changes. Challenge and listen. But work for you not another.

You are at your peak when you retire from this world. Keep the job or change it for another, or don't work at all.

At 75, I continue. Its not work, it is pleasure. I work for me and not another.

See for me this is a reason to stay. I'm only just starting to feel really accomplished and confident in my work.

I wouldn't if I was doing a job I enjoy. I'm also a widow (since I was 47). And I am fortunate enough to be able to do something I enjoy as I don't have to rely on it solely to put meat on the table.

I'd say no unless I get some inheritance or a lotto win beforehand! The next 20 years working should be pretty manageable if I can continue to WFH 3 days a week. I'd get sick of work with a 45 minute commute twice a day, five days a week, but now I only have 2 days a week where I actually have to get out the door.

Exactly how I feel.
I'm 54 but I don't think I'll be able to retire until I'm about 75.

Yeah, I would! I’d do it now at 47 if I could - DH is 56 and would love to retire too so we’d have each other (but I need my own space too so would have separate hobbies as well)

I am retiring in a few months at 55 and my 54 year old husband has already retired. We would have went earlier but had 2 kids at Uni to fund at the same time and felt it was unfair on them to say we can’t help you out as we want to retire and enjoy our money but you can struggle. We always planned to retire early and enjoy our time, no worries at all at filling our time.

I’m a teacher and am counting down the days until I’m 55 (2 years and 3 months to go 😀)

I did exactly that but at 56. My health was deteriorating. My dh is still working. He loves his job. I obviously had to get to 60 to draw my Teachers Pension. I had a second pension I had been paying into for many years. I bought an annuity and get £450 per month for life. It's not a lot but I also get a passive income from btl properties and now I run them myself instead of through an agent so saving money. It takes up about 2 hours of time each week at the most. We can also go on holiday in term time which after teaching for almost 25 years is a novelty and saves us so much money. I also get the higher rate PIP for mobility. Financially I manage quite well as I have savings too. I'm 61 now so I'm now drawing my Teachers Pension. At 67 I'll have a full state pension. My health is not wonderful so I'm doing what I can whilst I still can. We paid our last mortgage payment on the 1st of this month. So now over £1000 better off between us each month. Neither DH or I are extravagant and we have saved for many years including overpaying on our mortgage so we can enjoy retirement. I think DH will either retire or go part time in about 12-18 months.

Absolutely!

I work to live, and if I could live without working I'd have a much better life!

Also widowed and never went back to work after being furloughed. I’m having a ball and never been so busy. Made so many new friends, started new projects and hobbies. Exploring my creativity and studying courses on subjects I never had time to do. I don’t know how I’d find time to work now, and I am fitter and sleeping better than ever did.

I would but only with a plan and real confidence I could really afford it. If I could, I would do some work that I found more fulfilling and have far more time for community and exercise than I have now. I would also study for my own curiosity rather than to gain a work skill.

Same. Working 3 days a week (full time) gives me the perfect work/life balance. Hence I am happy to continue working for a while longer.

However, I think the Mon to Fri routine (which I call the rat race) is soul-destroying and not something I could ever return to.

Not for me
I enjoy the mental stimulation of work

I can go at 56 with a pension that is just under half my finishing salary. I'm not sure will I be ready to leave my job in 15 years but it might give me an opportunity to branch out in other areas of education and teaching that I'm interested in like dyslexia tutoring etc

We retired at 50. It's been brilliant. Always busy and very grateful to be retired

I have planned to retire at 55. I'm 50 this year. I will leave my high stress, hassle job and the retirement will open a new chapter for me where I can afford to work part time in a low paid but meaningful job. I'd love to work vulnerable people.

I will also start some hobbies that I dropped years ago due to being busy with children.

I know I shouldnt wish my life away but I cannot wait!

Yes IF ...
my husband retired too
We could eat dinner out a couple times a month
Have a take away once a month
Still buy the food / Netflix / books etc we do now
Have a sunny holiday once a year
Have a week or two up self catering a year