If you are a mum in your 40s or early 50s, what's your plan for career before retirement?

[Rekka]

Just that. I'm curious what other people's situation is.

I started putting pension/saving in the pot so late (in my mid 30s), I think I will have to work full-time until mid 60s. But in my field, unlike in accounting or HR, I haven't seen and can't imagine any female working into their 60s. Also most mums around in DC school seem to be all working part-time or not working at all.

I hit a bit of a career brick wall at the moment, but can't just quit and lay back. So I'm wondering what other people's plans are in the next 10-20 years.

I’m planning on super charging my career and doing lots more
It’s my time now - kids are late teens and so much more independent so I can invest in myself

I work full time as I’m a single parent so I have no choice! I can claim a 20K a year pension at 60 with a 60K lump sum. So I plan on working full time until 60 (my DD will have just finished uni at this point if she goes). Then the plan is part time to 63-64 as I can claim pension number 2 at 68 so may have 4-5 frugal years until then. I have savings too and hope to use that in the frugal years to top up the 20K. Mortgage will be paid off by 58 at the latest but I’m aiming for 55.

I took a massive promotion at 37 and plan to
lean in as much as possible for as long as I can. I have a serious health condition so I won’t make 60 working but I’m doing the best I can now.

I don’t know any parents of either sex who aren’t working FT unless they’re ill or have a child with additional needs or a disability. Most people in my field work beyond retirement age. I’m 52 with a young teenager, and am not planning my retirement in any form.

I've just taken a job with a substantial pay increase as I've turned 50 and need to start planning. My plan is to have a few years of both overpaying the mortgage and increasing my pension contributions, then in 3 years to.go to a 4 day week. My job involves a fair bit of international travel and there's no way I can do it until 67, so I'm really trying to use my money effectively in my 50s. As I age I can fortunately stay in my industry and there are lots of home based jobs, so hopefully get mortgage paid the pivot into one of those on lower pay but manageable as I age.
I have no idea what DP will do, he's knackered now and just can't seem to get his head into making a plan.

I'm 53 and have been FT time for the last two years after PT raising kids. My vague plan is to work FT till 60 and then drop to PT for as long as I can. I can't at the moment envisage never working.

my kids are still pretty young but I work FT now. I did PT for about 6 years and am worried about the hit my pension took.
I've just started a new job with a sizeable pay rise, I was planning to max out my pension contributions but got cold feet as realised actually I do need the money now as much as I will at retirement. Will probably increase my contributions more when the DC get older but for now doing 5% with 10% employer contribution.

Just moved into AI to increase my earnings and throw £££ at my pension pot which is crap after years of single parenting, any woman working PT at this age better have independent funds and not be relying on a bloke

I’ve worked part time since having my DC, I’m in quite a niche specialist role where working part time has not been that detrimental to my progress and I earn enough. When my younger DC started secondary I realised that I had capacity to do more - but the idea of just doing more hours didn’t really appeal. I decided at that point that I didn’t want to go FT to max my earnings and pension to try to retire asap, that I was happy to keep working longer but with more control over my work, so I started doing extra study, now coming to an end of that 4 years on.

Putting 25 percent a month in after YEARS of paying fuck all

Career before retirement? None, I’m planning on retiring at 55 or soon after. Bit late to be career changing now. I earn well enough, dh and I both have reasonable pensions with a decent combined income.

this is a downside to giving up work/going pt/halting career plans when you have children. Relying on your Dh’s career may pay the bills short term but when you get to 40 or 50 if that career doesn’t also provide a secure retirement you’re facing working till you drop.

Built up to FT over the last 8 years as dc have got older. Have over doubled my salary in that time and fully intend to work to increase both salary and role over the next 5-10 years now youngest dc is off to uni. I will need to work for as long as possible I think but am enjoying the freedom to work as I want now dc bot so dependant.

I started my private pension at 21, so was already in a reasonable position, then became a single mum but carried on working full time. Money was tight for years but I hung on to f/t job and standard contributions 5%/3%.

I'm planning to stop at 62 or 63. I won't be wealthy but I should be ok.

I don't quite fit with any of your options. I'm 53, working full time, but planning to go part time at some point before I retire. I'm a teacher, so I'll have a teacher's pension, but a fairly meagre one as I worked very part time for many years before going back to ft at 50. Fortunately dh's is a lot healthier-looking than mine!

Am 58 and increased from 3 to 4 days a week two years ago and plan to go to a 9 day fortnight next year. I find I’m really busy with kids coming and going to uni and then one of them staying at home for a year post uni, plus my mum needs extra support. So no let up here. But plan to work until 67 and seem to have an employer that will accommodate this. Hoping kids will be permanently away from home within 5 years, will then downsize and with any luck, start having a bit more time to myself, lots of long weekends and holidays and more time for DH and our friends.

My plan has been thrown up in the air as I got made redundant last week. I’m 50 (today!) and worked in a well paid, niche role. The intention was to slog it out for another 7-8 years, to get the mortgage paid off, see DC through uni and max out savings and pensions.

Now, I’m mulling over several options. Try and find another similar role and stick with the original plan, but the likelihood of me doing this is very small, and in all honesty I really didn’t like the job much.

Take a complete change of direction in career and find something I actually enjoy doing for the next 7-8 years at probably a 50% (maybe more) pay cut. Again I think it’s going to be really difficult to convince anyone to hire me as a career changer at my age. I also have no idea what I actually want to do!

Give up on working and live off the savings I have. It’s probably just about doable but would leave me very vulnerable in retirement.

The second option is my favourite I think, if I can convince someone to give me a chance. I do think it’s important to head into retirement with as good a savings/pension pot as you can manage. Life gets in the way of that though sometimes, as I’m finding out!

I have been thinking about this a lot - my plan is to leave my profession at 57-58 - can take £14k a year ish and will get a lump of around £30k. Between now and then will have saved around 60k. Have no mortgage. Then will be living like a hippy and travelling in between picking up temp contracts if I need a boost. Can release equity by selling up - but suspect kidults will still be at home so am not including that but can rent out a couple of rooms if need be. I would prefer to keep pressure cooking my lentils and to have more time. I have opened pensions for my kids - am sticking money in there as and when and the eldest has started to do the same now he works. He has a LISA and an ISA so I am trying to get them to be proactive as I fear they will have it tougher than we do. Then when they do move out we plan to sell up and share out the house price between us all equally.

Will carry on as long as I can but also retraining over 5 years for something I could do for longer (involves brain power but no travel or commute)

I’m sorry about the redundancy @edwinbear, the same thing happening to me would be my biggest risk to current plans. Hope you do find something you enjoy.

There seems to be a real theme of people aiming to and often succeeding in making up ground on pensions through their 50s, especially if it coincides with finishing mortgage payments and kids becoming independent. For all the finance talk of the value of compound interest for pensions, it looks like the last 10/15 years can make all the difference. Especially with frozen tax thresholds.

Lots if my mum friends didn’t work as much when the kids were little, but I’ve noticed most headed back to work once the kids were bigger. I retrained in my early 40s into a career with much higher earning potential. This involved sacrifices and it felt difficult and messy at the time. I work 4 days a week now but when my youngest is a bit older I’ll do FT. Hoping to pay off the mortgage early then support DC with uni (to an extent) and save save save. I can tell my energy isn’t what it was (late 40s) and don’t want to be forced to work FT in my late 60s.

I'm hoping to increase to full time or 9 day fortnight once my teen finishes school. Then full time(ish) until early 60's.
I'm a lone parent so don't have much pension. I've been so busy I've never had time to do all the sums.

It's not one of your options but I'll work till I drop if poss, as have the kind of career that I wouldn't want to stop just because I hit a certain age so I don't see life as about heading towards retirement. I've got a small private pension that kicks in at 60 I think but I'd be incredibly bored if I had to retire in my 60s. Course if I get ill and can't work then I'll have to stop, or if the work dries up I guess, but I like working and will carry on, through my 70s and beyond if I'm able.

Late 40s and I went back to work v part time from home a couple of years ago. Fortunately the money is a bonus for us, so I've been putting 1/3 towards overpaying the mortgage, 1/3 towards retirement savings and 1/3 towards nice stuff!

I'd like to up my hours a bit, but everything I've looked at so far seems to want FT hours in the office for not enough money more to make it worth my while and youngest DC is still at primary school so I value my flexibility more at the moment.

I was PT for 12 years (three days then four days) and went FT again when I was 49.

Plan is to max out at this level for another 5-6 years to boost my pension and get the kids through most of uni (mortgage should also be fully paid off in that time).

Then either go part time or stop, depending on what our situation is like then and if the kids need any more support with establishing themselves.