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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:
Beezknees · 06/05/2023 07:04

Yes absolutely. I'm 33 and would retire now if I could!

icanneverthinkofnc · 06/05/2023 07:11

I get that it's an legal entitlement, so employees can do this, learn something new on here every day..obviously mainly applies to better paid jobs as low wage can't usually afford it but I can see some businesses might be hesitant to employ parents/ those of parental age.

Amboseli · 06/05/2023 07:12

@PermanentTemporary I had a job 9-2 Monday to Friday and like you say it was perfect as I had the afternoons free. I prefer it to having a full day off as I feel I waste the day.

I work full time now at home with half a day or a full day in the office which is a good balance.

icanneverthinkofnc · 06/05/2023 07:13

icanneverthinkofnc · 06/05/2023 07:11

I get that it's an legal entitlement, so employees can do this, learn something new on here every day..obviously mainly applies to better paid jobs as low wage can't usually afford it but I can see some businesses might be hesitant to employ parents/ those of parental age.

Wrong thread..sorry

Movingonupi · 06/05/2023 07:13

Yes I would absolutely and it’s actually a pipe dream to get the mortgage paid off and do this

MeanderingOnTheNorfolkBroads · 06/05/2023 07:39

I think some posters are equating "I wouldn't like to retire young. I like to work" with "I'm a workaholic and live to work".

I'm definitely a work-to-live type person. I switch off at 5.30pm and don't give work a second thought. I live in a national park and life is structured for maximum enjoyment - when I'm not working.

But I love the structure (and income) that comes with working, setting goals for myself, being accountable and stretching my brain. Some people, I'm sure, can achieve the same sort of thing in retirement, but I don't personally know anyone like that in my circle.
All retirees I know have switched to a lifestyle of quiz shows and coffees, and have rapidly declined.

Amboseli · 06/05/2023 07:57

@MeanderingOnTheNorfolkBroads my dad retired early, around 60 iirc. I'm convinced that's why he now has such a bad memory. He used to be very quick off the mark, up to date with current affairs, science etc. Since retiring my parents just go for walks, see friends and family and watch TV and I'm sure the lack of mental challenge and stimulation has led to his poor memory.

Original poster
QuickGuide · 06/05/2023 08:02

Amboseli · 06/05/2023 07:57

@MeanderingOnTheNorfolkBroads my dad retired early, around 60 iirc. I'm convinced that's why he now has such a bad memory. He used to be very quick off the mark, up to date with current affairs, science etc. Since retiring my parents just go for walks, see friends and family and watch TV and I'm sure the lack of mental challenge and stimulation has led to his poor memory.

My Dad retired at 53, he's now almost 80. Has had some health problems in the last year so has slowed down a bit, but is still mentally sharp. He's still my first port of call for any thing financial, legal or technical, including IT!

He isn't particularly sociable but he manages his share portfolio and until recently was very unto his golf, so he had clear structure and objectives. I think that's probably key. Having something to achieve, rather than just filling the time.

I could easily fill the time, but I'm not sure what my goals would be.

Currently I enjoy my work, but as PP I don't work excessive hours and enjoy my time off.

OP posts:
MeanderingOnTheNorfolkBroads · 06/05/2023 08:05

Amboseli · 06/05/2023 07:57

@MeanderingOnTheNorfolkBroads my dad retired early, around 60 iirc. I'm convinced that's why he now has such a bad memory. He used to be very quick off the mark, up to date with current affairs, science etc. Since retiring my parents just go for walks, see friends and family and watch TV and I'm sure the lack of mental challenge and stimulation has led to his poor memory.

Yes, same.
My mum and my two inlaws retired at 60 and all rapidly declined, physically and cognitively.
I'm sure someone will come along shortly to tell me about their granny who did three OU degrees in retirement and plays squash six times a week, but most people seem not to.

Ducatifan · 06/05/2023 08:07

I’m 52. No I don’t think I would. I definitely want to go part time but I’d not stop working altogether. May be I would with a lottery win making life very comfortable so we could do quite a lot of travel.

Rockbird · 06/05/2023 08:07

God no. I'm 51 and can't imagine retiring. But my children are still youngish, 15 and 11 so we're right in the middle of family life still. Although my parents, although fit and well, require a bit of running around after so more time would be useful. But no, I like my job so wouldn't want to retire.

ConstanceReid · 06/05/2023 08:09

Yes, I’d love to.

My dream is to do this and just do some consultancy work a couple of days per week.

My job is full on, extremely technical and demanding. I think by 55, I’ll have had enough.

rookiemere · 06/05/2023 08:10

If you enjoy your work OP, I wouldn't throw in the towel just yet. I met an old manager of mine at a leaving lunch the other day, he has just turned 60 and is planning to continue to work until he gets to a "F**k you moment " then he will retire. Honestly I was shocked- he's such a mild mannered man, but secretly impressed.

This has made me realise even more that to keep on working for another 7 years I need to make changes. I'm not enjoying my work at the minute, and they have changed our working practices for the worse, so I really need to find something else. I'm jealous of people who enjoy their work.

PurpleFlower1983 · 06/05/2023 08:11

Yes! But I looked at my pension and it only gives me 14k a year at 55 so I need to start upping it!

LlynTegid · 06/05/2023 08:12

I have worked only four days a week since age 55. Is a shorter working week an option you would consider?

SiouxsieSiouxStiletto · 06/05/2023 08:13

I think in your position I'd go part time. I have a DF and colleague who is also widowed but a little older. She does 3 short days at work and volunteers one day a week. She likes that work is a smallish part of her week but she also gets the benefit of interacting with colleagues and she's made friends volunteering.

SirChenjins · 06/05/2023 08:14

Amboseli · 06/05/2023 07:57

@MeanderingOnTheNorfolkBroads my dad retired early, around 60 iirc. I'm convinced that's why he now has such a bad memory. He used to be very quick off the mark, up to date with current affairs, science etc. Since retiring my parents just go for walks, see friends and family and watch TV and I'm sure the lack of mental challenge and stimulation has led to his poor memory.

I agree. Everyone I know who retired in their early or mid fifties has spent their time pottering about, rather than achieving anything of note - presumably because most of their friends are still working and their DC are often still at school or in the early stages of university. There’s a definite decline.
Given that this is MN though, there will of course be plenty of 50-something people who go sailing, run several community groups, study for degrees and train for marathons in their early retirement.

JustGotToKeepOnKeepingOn · 06/05/2023 08:20

I'd love to retire. I'm late 50s and can't see it happening any time soon. If money was no object I'd been off! Travelling, studying, gym... I don't have time for any of these things now and feel like a hamster in a wheel. It's no way to live!

cushioncovers · 06/05/2023 08:21

I'm 53 work full time and am knackered so yes I would if I could.

PinkSparklyPussyCat · 06/05/2023 08:22

DH is older than me and has retired so I would love to spend more time with him. While I would happily retire now if I could compressed hours or working part time would probably be the best solution for me but that's not an option where I work so will involve looking for a new job. Not sure that'll happen at 48!

TroysMammy · 06/05/2023 08:22

Yes yes and yes. I'm 55 and enjoy my job but it's so frustrating. I only work 25 hours 2 1/2 days a week and have to cover holidays and sickness so end up working extra hours but I don't want to do it any more. I feel knackered and lack motivation to enjoy my hobbies.

Zipps · 06/05/2023 08:23

Yes we aren't quite mid 50's and have just retired early. We have got loads to do but then we're like that anyway. When we both worked full time we had to squash everything into two days, then we went part time and had four days to fit everything in.
We both have touring motorcycles, a camper van, lots of holidays UK and abroad, short breaks, spa breaks, festivals, gigs, theatre, NT membership and days out planned.
For day to day we have a gym membership, like strolling around different places, walking the dogs, helping at a local dogs rescue, having our gc and seeing friends and family. We have an active social life anyway so that will continue as before.
We've also decided to do something different every month some of which we haven't tried before, so far we've thought of archery, quad biking, llama trekking, horse riding, table tennis etc.
I can now imagine all these people whose friends just watch tv and wait to die and go on about how they would be bored in retirement and plan to work until the day after they drop dead will no doubt say our plan is exhausting.

MajesticWhine · 06/05/2023 08:26

I think I probably could afford to retire by the time I'm about 56, (in about 5 years) but I haven't really planned to do this. I might cut my hours. I enjoy my job and the mental stimulation is important.

XBealtaine · 06/05/2023 08:27

Yes I would. I'm single not widowed, so I don't feel the absence of a specific person. But yeh, there is a dressmaking course I'd love to do and I'd like to walk the camino.

I would create structure for myself. I would 'make' myself have a timetable and try and stick to it.

drinkeatsmile · 06/05/2023 08:28

We hit our pension goals last year - so we have the option to retire comfortably. We run our own company and whilst that is tiring and stressful at times it's also a bit addictive - hard to give up. I have a friend who retired last year - she had met her pension goals but is a little too careful with her money - so she's living like she's permanently skint and that is most certainly not the case. I have banned her from having money-saving conversations with me, there's no need and no benefit to either of us.
Sometimes I dream of retirement but I can get quite down if I'm not doing stuff - I have no ambitions to achieve anything noteworthy - just to pass my time in a productive way because that's what I enjoy - not because I feel the need not to waste time.

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