If you took early retirement, was it what you expected?

[Eastie77Returns]

I’m mid 40s and not sure how much longer I can continue working or working FT. My job isn’t terrible by any means. It’s very well paid and there are lots of perks. But I’m just exhausted with it all. I work in the Tech industry. There are lots of new and exciting innovations I could/should be involved in at work but I cannot muster the energy. I manage a team of young direct reports and I worry my lack of enthusiasm is apparent to them (although most are based abroad so hopefully not). I wake up every day and semi dread the day ahead. I literally live for my annual leave and am only truly happy when I’m not in the office. I know this is the reality for millions and this isn’t a woe is me post. I’m lucky in many ways.

Anyway, I think it might be feasible for me to take early retirement in about 8 years when my youngest turns 18. I don’t think I’d be bored but was interested in hearing from anyone who retired in their 50s and what your experience has been? Any pitfalls? If most of you’re friends still work, have you found it challenging?

To answer questions re finances: my parents both died recently and left DC money in trust . It’s a decent amount and can be used for uni fees, a deposit on a flat etc (not in London!). I currently earn £130k, have a private pension and plan to sell and downsize when they leave home. I’ve inherited money from my parents and think if I’m frugal I will be able to manage. I could work PT if needed.

I'm 47.

Retired mostly for medical reasons.

Yes, it is what I expected.
I downsized and moved area to release money to live on.

Took a while to make friends in the new area but I'm doing well now - in a wild swimming group, two choirs, a band and have just this year joined the uea.

Slowly making the house a lovely place to live.

Retired at 55, 3 years ago.
Generally describe it as every day being a Saturday, some things that have to be done but mostly things I want to do.
Friends retiring around me now, do a couple of voluntary things, have time to do things I enjoy, time to spend with DH/DP whilst all in good health.

I retired when i was later 50's because like you i hated my job - primarily because i had terrible managers but i was very bored as well. husband also hated job so he too retired. we have a large pot of money saved up to take us to pension age and also have work pensions and other investments.

Do not underestimate how much money you will need - get some financial advice before doing anything.

I have quite a lot of hobbies, but i need another for the winter. I would start looking at what you might like to do now, and if possible start a few in a low key way.

Personally, in your situation i would look to change jobs/profession/move to PT. You are very young to retire altogether and you will find you are talking to people of your mum's age most days or people with young kids.

I could have written this. I'm mid 40s and don't think I can keep going the way I am. Whilst doing some retirement planning and seeking advice on another forum somebody did say maybe I should address the unhappiness/dissatisfaction in my job rather than thinking retirement is the only option. I'm still giving this quite a bit of thought as I don't know what it would look like, what I'd do if I wasn't doing what I am doing!

I'm really interested in this too. I'm 47 and DH is 49- we're thinking of retiring in about 5 years which is largely driven by DH (he works in finance and has basically done a 60+ hour week every week for the last 25 years, and has really had enough). I work FT but with more reasonable hours.

We're both finding it hard to know what to do. At the moment he is longing for retirement and hoping to do not much more than pottering around the garden and go on holiday a lot, but is aware that this seems the dream when you are flat out at work but might not be that in the longer term. Alternatives are to try to carry on in a similar role in some sort of consultant capacity (doing maybe 15 hours a week or so) or else to try something completely new. I feel a bit nervous about the latter as DH doesn't really have any ideas- he keeps saying things like "we could set up something like a cake shop except obviously not actually a cake shop, just something like that" and neither of us has any experience running a small business. I can see it being a lot of stress and an easy way to lose a lot of money.

I think my ideal would be to retire in stages- he could switch to consultancy and I could gradually drop some days, so that we could test the water without being completely committed to retirement. It's a slightly tricky situation as we both feel he has to stop doing what he's doing as it's just not sustainable as an older man, but we're not really confident in any of the alternatives as being right.

It's also easier for me as I have had periods of mat leave and working PT when my kids were small, which means i have a better idea of what it might be like to have more time and not be completely defined by work. He's not the sort of person who is generally very status driven but we're both aware that it's hard to anticipate how giving up a role will affect you.

Sorry, that's a lot of stuff that's not really on point and mainly about my other half!

I'd be looking into any health issues/menopause rather than struggling on for 8 years.

I retired pretty young and although I'm not easily bored I find not being what society seems as "productive" quite dull and anxiety enducing. I'm looking at part time work now because I want the structure and daily chats. No one my age is retired so it can be quite lonely as not much goes on group-wise in the week as it's all geared up for weekends. Get a dog is my #1 advice - you always have time for walks!

@LizardQueeny your work situation was similar to ours. at first not having to rush everything is amazing, and you can catch up with all the things around the house you should have done over the last 20 years. longer term you will need something - although my husband seems to love pottering.

personally i wouldnt start something entirely new workwise. its likely to be hard work/risky learning and as you say you could loose loads of money. frying pan to fire springs to mind. reducing hours/less stressful role would be my thought.

I've expanded some of my hobbies and tried others....some good some not. some people travel extensively which isnt really for me. i've made new friends.

DH retired early 50s and has never regretted it. He has loads of interests and hobbies. I kept working until my early 60s, loved my job but was getting too tired. We didn't need the money but I've ended up getting a part time job after retirement as I missed the structure and social aspects of work.

But you are only mid-40s! Why soldier on in a job you hate? Not everyone dreads going to work - some people love it! It sounds like you need a career change to something more fulfilling. Isn't there something else you would like to do?

I semi-retired early ish (58) and took my transferable skills into a part time role in a non-commercial organisation. Kept some £ coming in but gave me much more free time, the job was pretty easy. Didn’t see it as semi-retirement but that was what it was.

Full time retirement is wonderful, i feel guilty for being so happy. I volunteer loads doing something I really enjoy, have other hobbies, see friends, do my shopping when the shops are empty, holidays aren’t squeezed in to anything.

But the early years of retirement can be expensive if you want to travel or pursue expensive hobbies. It doesn’t get cheap until you slow down in your mid 70s/80s.

I’m 46 and can’t yet afford to retire due to huge mortgage. However, my plan is to go
to 3 days a week once I move towards it to ease myself in - DH 5 years younger then me so will likely still be working so makes sense for me to continue for a bit

Retired at 57 and can honestly say retirement is better than I expected. I had not realised how stressed and wound up work made me.

I find winter the toughest.

Currently I have a long term aim to swim outdoors in every European country.

I'm aiming to do roughly two a year.

I spend some time on Duolingo and watching tv in the language to learn a bit about it, and then visit and swim.

Just back from Athens which was amazing although Greek is a tough language. Had a lovely swim in a thermal lake there which was at 21. Because I went over half term my son and daughter were able to join me.

I'm also learning German and planning on going to Berne in the summer for the annual Rhineswim there.

It can be hard to find alternative focus if you've always been a live to work type person.

Many people my age who I know are working part time or reduced hours so do have time to meet up and swim/lunch/dance whatever

Yes at 50. Lots of hobbies and travel. Got a casual part time 'pocket money' job which is stress free and a nice way to meet people. No regrets at all. If you can afford it, do it.

Thanks, that is helpful.

Consultant work is definitely an option for me. I work in a specific area (Artificial Intelligence) and I have seen Consultant roles increasingly pop up. Added bonus is a lot are remote. I originally thought that I could eg do a 6 month contract, take the rest of the year off and work that kind of on/off cycle. However former colleagues who became consultants told me it doesn’t really work like that. They actually work non-stop as employers like to take on Contractors who are finishing or have recently finished a project. Skills in this industry quickly become obsolete and new ones required so I’d need to keep my hand in, do courses, attend webinars etc.

The cake shop (or any kind of shop) would be hard work - don’t do it😂

You sound a bit like pre-HRT 😆Although I'm in a sector that might mean redundancy before I get to early retirement age.

Anyway, I've given it quite a bit of thought and I suspect that I will need some kind of structure still to my weeks, so thinking of trying to find something part-time or freelancing if I make it to early retirement. I have lots of hobbies I enjoy, but quite a few are solitary - I am very introverted but do see people in the office, so I think I would need to "replace" those social interactions. Especially as friends might not be retired at the same time as me.

I’m 46. It’s a tiring age when we still have a way to go to official retirement age but we are tired and i’ve worked for 30 years already.

So I moved jobs and am really happy with a new challenge. Unfortunately i work in healthcare and my role isn’t amazing pay so there’s no way of retiring so early. However i will go part time and maybe work in an easier less physical role as i get older.

We are saving and have pensions and trying to pay the mortgage off asap.

@Eastie77Returns hello! We were on the "surviving a move" thread a long time but I think my username may have changed. Hello.

If I recall correctly, you are someone who likes being busy? Honestly, I've been plotting early retirement since I was 25. Now late 40s, on track for similar age as you. But I am very contented pottering and reading etc and always have been.

Your finances sound better than mine and I think finding something to do might be a big deal for you. But then again working life is extremely long.

also, you never know what you might get interested in. You could start an art project and be left wondering where on earth the time went! I don't really get it when people assume early retirees must be bored.

I left a similar area to you recently ( mid 50s) and hearing you talk about possibly consulting makes me realise I am quite happy out of the workplace !

Time to unwind - I didn't realise how much stress I was under

Getting on top of DIY rather than putting up with things

Planning trips when the weather turns

Hobbies

I seem to have taken on a few volunteer roles almost by accident but that's fun too - nothing that restricts my time

I need to work in getting fitter and a few other things but the distressing and DIY is filling days at the moment

I think the issue is I’ve been working since I was 16 (albeit a weekend job at Woolworths😂) and I’m done. I was on another Pension thread and according to the info in my HMRC account I’ve already made all the contributions needed to qualify for a state pension. So I will potentially be working about 20 odd years…for what purpose I do not know.

That sounds like me pre hypothyroidism diagnosis. I’d get your bloods tested. I didn’t take early retirement (was 67) absolutely love it now though! Lots of exhibitions, concerts, walking, travel etc.

I’ve just had full bloods test taken as part of my over 40s check and it came back with zero concerns. I have been feeling out of sorts for a while though: insomnia, waking up feeling groggy/headaches, frequent low level nausea and indigestion.

But my feelings about work pre-date all of these symptoms.

It does sound as though something like HRT might help you

Although many of those are also stress symptoms - as I can testify now !

Retiring at 60 odd doesn’t appeal to me at all. That will leave me with a decade or so at best to ‘enjoy’ retirement when I’ll be older and possibly infirm. A decade…after working and paying into the system for half a century. And my pension will likely be taxed so I’ll be paying until I drop dead.

sounds like stress to me. surprised the doctor didnt pick up on it.