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Original poster

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

201 replies

QuickGuide · 05/05/2023 18:55

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.

OP posts:
MammaTo · 05/05/2023 22:21

55! I’d retire at 35 if I had the money to. As long as I could live very comfortably and travel 3/4 times a year then yes I’d retire asap.
Unless you have a really fulfilling job then i think most people would.

FrangipaniBlue · 05/05/2023 23:08

Yes and I'm planning to!

wankerseverywhere · 05/05/2023 23:08

Radiohorror · 05/05/2023 19:17

I have just retired as DH is terminally ill. For now we don't do very much (& I am actually quite bored, which sounds awful). When the inevitable happens I will take some time to get used to the idea, hopefully go back to some of my hobbies, do some voluntary work & TRAVEL. I wish I wasn't going to have to do it on my own, after saving for, and planning our retirement together, but that is the hand I've been dealt.

I'm so sorry, @Radiohorror.

grosslyunfair · 05/05/2023 23:23

I'm not quite 50 but I could afford not to work if I wanted to. Also alone. Like my job generally but was finding 5 days a week quite onerous. After a significant bereavement I dropped to 2 days a week and I love it. Enough to be involved but not engage with any crap and loads of time to build up what I hope will be my retirement activities, can travel quite easily and am not eating savings and still adding to my retirement pot. I'm hoping to do this for the foreseeable future.

Would something like that as a trial run work for you?

Nowisthesummerofourdiscontent · 05/05/2023 23:43

I work full time and don’t think my job works well on a part time basis. I have the means to give up if I wanted but overall it’s engaging and stimulating. I’m lucky it’s well paid, too. I have DCs in secondary so tied to the school holidays, so no point in me retiring. I’m not at the point of developing hobbies either. I’m 54. I think it would drive me round the bend.

Berlinlover · 05/05/2023 23:45

I’m 46 and my partner is 67 so yes I definitely would.

BinturongsSmellOfPopcorn · 05/05/2023 23:49

In the circumstances you describe - enjoying work and not having a plan for what to do instead - definitely not.

But in the cirumstances I'm in -fed up and with lots of things I'd rather be doing - yes, absolutely. In fact I'm planning to stop at 50. There may well be some minor freelancing/self-employment further down the line but I'm done with having a 'proper job'. My DP doesn't want to ever retire, but plans to go part time in his mid 50s.

HP79 · 05/05/2023 23:55

I'm 43 now and would retire immediately if I could afford to. I have plenty of other interests that would keep me busy, plus an enjoyable hobby which brings in extra cash. Realistically, I want to be done by 60. Though the thought of another 17 years of full-time work fills me with dread, so will start assessing the finances from 55 onwards. However, I'm likely to work for longer than I need to just be absolutely sure I have enough money to last my lifetime.

TheHateIsNotGood · 06/05/2023 00:14

How terribly sad. To not be able to enjoy so many things only because you aren't used to enjoying them alone; even your garden.

Any advice I could give would be frivolous and possibly mean and unhelpful but living as an individual being is really quite nice, especially if you enjoy your garden.

If you like your job, then keep doing it, you're only 55, reduce your hours or quit if you don't like it. You can afford to do what you want at a young age.

You can even afford to go into a depressive cycle of self-destruction if you want. Hopefully not.

I'd be off travelling during the colder months and enjoying my garden in the warmer ones, working occasionally, if such an opportunity was presented to me.

wankerseverywhere · 06/05/2023 00:22

MeanderingOnTheNorfolkBroads · 05/05/2023 20:25

Hell no.
I like working.
My dad still works a 3-day week, by choice, in a fairly physical role, at 73.
He's full of life and his job gives him structure, a sense of purpose and spare cash to treat himself with.
He's obviously very fortunate (and has put the work in too) to be fit enough at that age.
I mean, sure, if I was rich enough to literally piss about travelling the world between 55 and death, then sign me up for retirement.
But of it were a case of watching the pennies or being remotely careful with money, or bored and struggling to fill my days, then no, no interest at all.

I feel the same. I'm 46 with kids in primary and secondary school, so there's no real point in me retiring now. I'm tied to school holidays anyway and for me, travel would be the only compelling reason to stop work.

Even if I didn't have kids, though, I wouldn't retire so early. I really enjoy my job, and I'm good at it. I get a sense of accomplishment - and recognition/validation - that I really appreciate (and need). I also love the structure. I like that my presence matters, iykwim? I went though a period of being self-employed but very casually, and hated the "freedom" that other people seemed to think I should love. I really enjoy most of my colleagues and love doing something as part of a bigger group. I know I could join groups, develop "hobbies" but that's not very appealing at this stage of my life.

My husband is 10 years older than me, self-employed in a very "cerebral" profession and unlikely to retire ever! Maybe he'll drop down to 3 days a week at some point.

I also would not be willing to compromise on one iota of our standard of living.

Whyishewearingasombero · 06/05/2023 00:32

I'm 57 and started full time 2 years ago after having worked part time since I was 26, around my DC's. It's my best job ever and I'm loving it. Its very flexible but provides me with a focus and enough structure to keep everything in balance. I'll be working till 67 I reckon.

Blanketpolicy · 06/05/2023 00:33

I'm 55 next year and yes, absolutely would if I could afford it!

I would childmind for my niece a couple of days a week when she went back to work, walk the dog a lot, maybe get a little PT working or volunteering gig, and would find plenty of things to fill my days.

NeatCompactSleeper · 06/05/2023 00:36

God no. I'm 54 and absolutely love my job.

If I'm still healthy enough I want to continue a few years after retirement age.

OhamIreally · 06/05/2023 03:53

Mid-40's I would have said just what @wankerseverywhere has said but it's surprising how much more tired you feel in your 50's.

Pre-divorce the plan would have been to have retired at 55 but I have to keep slogging away a bit longer now. I'm trying to structure things to enable me to retire at 60 but going part time with a maximum of 3 days could work.

It's not just the work that's tiring it's the whole second shift, with the most draining thing being thinking about what to cook after a day's work.

PermanentTemporary · 06/05/2023 04:32

It's possible I might be able to retire at 60 - feeling very lucky to have that possibility. But even then, I had a day off on Tuesday and was depressed and unmotivated all day, and I'm not sure whether I have the mental strength not to work tbh.

I think part time is probably a good way forward for me. I do get increasingly stressed and tired with work (hence awake in the small hours now). After DH died I had a few years working 8.30 to 1pm and that was actually a surprisingly good option - no complete free days, but a good daily rhythm plus enough time to exercise, see friends etc.

useitorlose · 06/05/2023 04:37

I'm 55 now, DH is almost 59. We live overseas at the moment, so plans look a little different as our presence here is linked to our jobs. Mine has to be done here, but he could work from anywhere in the world (global role, WFH). When we left the UK we sold our house and now have two BTL apartments in Europe with very good rental returns. We would be happy to live in one of them, in time. We've toyed with the idea of buying a place here to use as a holiday home and spend our time between the two. We have worked hard and saved hard, don't have a mortgage or debt, so we could manage if we retired now, but we are not ready yet. Our goal is that I'll work until 60 and he may carry on longer due to the nature of his job. If my job came to an end at any point from now on, though, I'm not getting another full time role. I have a secondary role I could ramp up and I could focus on my studies (PhD).

AlisonDonut · 06/05/2023 05:31

I retired at 53 and we bought a second house and moved to France.

By 53 after working in construction and then management and then teaching and then back to management I'd had enough of it all. Especially the incompetence in so many higher levels of management, I was so done.

tuvamoodyson · 06/05/2023 05:55

Yes…and I did!

Thingamebobwotsit · 06/05/2023 06:01

No but I am planning on changing the way I work. I like working but I want to be in a position where I work because I choose to, and not because I have to. And that my work has meaning and purpose for me and other people. Trying to get my finances sorted now so that I am in that position in next 10-15 years to be rrally choosy about how often, when and where I work. Am so fed up of the daily grind and I want to be motivated to get out of bed on a Monday again (not that I dread it).

JandalsAlways · 06/05/2023 06:01

CampervanKween · 05/05/2023 18:57

No. My friends are all currently talking about doing this and it gives me the fear. All they seem to do is play golf and go to coffee shops. I need the mental stimulation I get from my job. I'd be bored.

Have you ever taken time off work? I thought this but I took a year off and I wasn't bored at all. You don't need a job to mentally stimulate you, I think people tell themselves this to make themselves feel better

KitKatLove · 06/05/2023 06:34

I am one of the work to live not live to work brigade, I love my job but I have always wanted to be retired by 60 at the very latest. Firstly because I have seen my parents, grandparents and PIL enjoying their retirement. Secondly I have never met anyone that regretted retiring and invariably they wish they had done it sooner. Thirdly I unfortunately know of a number of people that could have retired but chose to continue working because they were afraid of being bored and they have dropped down dead. And finally 5 years into a degenerative condition I know that I will be medically retired at some point and I would like to be able to enjoy some of it before my brain completely knackers my body.

JussathoB · 06/05/2023 06:47

Hi OP. I completely agree that ‘life is short’ so I think it can be a good time to reevaluate things in your mid fifties. However in your situation I wouldn’t retire. Focus on developing for yourself all the things you would like to make the most of in your life. Travel and holidays, joining groups of people, hobbies and interests, relationships with family and friends.
I retired at 57 but hadn’t really thought of retirement beforehand apart from stopping a job I didn’t want to do anymore and whether I could manage financially. But retirement is not just about the job and the money, it’s about how you spend your time and live your life.
So consider your work options to get a bit more time and flexibility first. Plan a couple of trips/days out/holidays. Join an activity- exercise/choir/ learn something new/gardening club?? Perhaps you could volunteer or take a training course to gain a new skill. Think of your ‘retirement’ as a new project to develop your life. Don’t give up work completely yet, start off down some new roads first if you can.

Use74074345 · 06/05/2023 06:50

Depends if you like your job really

lucylantern · 06/05/2023 06:59

Yes I would but I don’t like my job and have lots of ideas for things I’d like to do instead. You seem to be the total opposite so in your shoes I wouldn’t.

My in laws retired at 60 and it was the worst thing they could have done, they were both bored, lonely and isolated. Then FIL died and MIL seems to have aged about thirty years, at least if she had kept working she’d still have some structure and social contact in her life.

Amboseli · 06/05/2023 07:04

Definitely not. I'm 53 and love my job. I'd feel weird retiring while DC still in education. I still find plenty of time to do things I enjoy even though I worked full time.

I don't think I'll ever stop working, I like the structure it gives to the week, the mental challenge and the social side.