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.

Just turned 40 and went back to work FT after 8 years PT. I have two DC in primary but can’t afford to be PT any longer. My plan is to move into management as soon as possible. I’ve been in my profession for years and now is my time to climb the ladder. I want to be on 50k by 45 at least.

I’m 53 and hoping too hang in there at work for another 2/3 years. Have always worked full time, two 20 year olds. Mortgage paid off a few years ago. Now it’s how much do you need?

Late 40s. Been working since 18 pretty much full time. Started sipp pensions around age 36, it's not brilliant but ok . I've worked through the childcare years, really hard balance and self employed the last 9. Plus then the last 5 years interspersed caring for a parent through COVID etc and Alzheimer's. Then they died. I'm broken and exhausted as is husband we're barely hanging on. My hours are less now not out of choice but I actually realise now it's for the best. We have chosen so far not to fill pay off the mortgage but we can anytime as we've been careful and overpaid being self employed. Also been saving child benefit for our DC.
I'll keep plodding on as enjoy my work , good for the mind too, and I think inflation will keep increasing. But I definitely want a quieter life I'm so very tired and so is DH. I'd like to think we'll pay house off and increase pension savings after that. With the current economic climate and both self employed, we can only hope.

I've just turned 40 and 2 years ago decided to change careers from pharmacist to teacher. I've no idea what my pension looks like but I've just had first child and I want to work till they are adults at least. I will go part time at some point but only because due to my ADHD I won't cope full time forever.

Our plan is

1. In 7 years our morgage will be paid off (I'll be 52 Husband 63)
2. The extra money will be paid into our isa

3.Husband will work p/t until 67

1. I'm currently doing a degree so my career plan is changing. (I'm 45 will finish next year)
2. I plan on retiring at 60 as my husband is older and we want to be able to enjoy it together.

I'm late 40s. I earn a very high salary in the stressful role which I think I can probably handle for another couple of years. At that point I'll leave and purposefully apply for more junior roles which will come with less than half the salary, possibly even PT. I've worked it out with dh that financially we should be able to afford that by then. I plan to spend my 50s working but not in the corporate world.

As long as I can keep working full time for the next six years (no redundancy or illness) I will have paid off all my debts including my mortgage, will be eligible to claim my teacher’s pension which would be around £20k a year, have a lump sum of around £60k thanks to savings and AVCs and a further £12k saved to go towards my dc’s university costs.
I’m 51 and single and will never be a wealthy retiree but should be reasonably comfortable. I’ve worked full time all my adult life and started a pension the day I started work.

I hope to downsize when we're around 60 (depending on kids' life situation) so we can move while it's still not too exhausting and be decently set for retirement, but what DH will say about that we'll have to see as he's a bit of an idealist rather than a pragmatist when it comes to this kind of thing. I'd be happy to downsize to a slightly scruffier, cheaper area for a generally better quality of life for the money, but DH is likely to want to stay somewhere he feels has more cachet I suspect.

I stayed p/t for my own health and yes - it also makes life easier as our weekends are mainly free for leisure instead of cramping all chores into it.

But - I do have a very good salary and I pay into a private pension on top of it. It only works because DH and I have joint finances and he is very aware that I run the household and make his life and business trips easier, so it's a no brainer to ensure I have a decent financial pot for retirement.

I also agree that DD was a lot more challenging in secondary than the endless parent involvment events in primary every were.

I’m 40, have paid into my pension since 19. Mortgage will hopefully be paid off in three years. I plan to ‘retire’ at 50. Probably more of a career break than a permanent move to retirement, DH is older and has also just retired due to redundancy unexpectedly. I have always worked full time, maybe move to part time in a couple of years but not sure my work will allow me to do 3 days (they only allow people to drop to 4). Seems I’m doing the reverse of what most here are doing!

I work PT have done for last 12 years. I am 49 and will likely go back FT in the next couple of years. I have been contributing to a pension since my early 20s. My dh also has a good pension and company shares so we should be ok come retirement. I don't expect either of us to be able to retire until at least 65

A lot of the plans here are for joint retirement. I will never trust a man that much! I’ve been happily married for 15 years but even so. I want to know I have enough money in my pension in my name that I would be ok should he leave

Or, as is statistically more likely by the time retirement looms, the woman decides she would rather be in her own! Its important I think for everyone to have their own provision.

I think I’m going to get an adult teaching qualification and in part my knowledge of HR and Finance to others.
In further education, you can teach a group below your qualification so if you’ve got a BA, you can teach a levels.
I’m hoping this can be done remotely and online

I think I only paid into a pension after kids finished being in nursery, so in my mid 30s. I do put a lot in now though, as we don't have a mortgage (though it'll feel like it again while kids are at uni!). While either of them were in childcare my entire work salary went into out bills account, but I had rent income from my house that I'd let when I moved in with DH

I’m in my 50s and, having spent 30 years in my current career, am now planning to retrain through a PGCE. Either I’ll find a new career that I love as a result or I’ll add another string to my bow (currently freelance).

OP, since you’re planning ahead I’d recommend having some savings to finance a change in your 50s. I haven’t really got enough, so it’s going to be tight…

Edited to add, I expect to retire somewhere around 65/67.

Will you get all of that £20k if you retire at 57 or is that the amount you would get if you retired at normal pension age?

I only ask as I’m NHS at a similar age as you and my forecast is cut by about 50% if I take it at minimum retirement.

The £20k is my reduced amount at around 57/58 retirement age.
if I worked until 67 it’s coming out at around £37k but I’m unlikely to last that long!!

Wow! Nice!

I was bored to dry tears with my old job so at the age of 50 I retrained as something else which enabled me to be self employed and choose my own hours. I have a renewed passion for work after having felt stuck in a rut which was safe but boring for too long. My new work and my enthusiasm for working in a different field will keep me happily working to retirement.

I would have ticked the box "beyond retirement age", had there been one. Sad times to be an ageing mother who put her career on hold whilst supporting her husband's during her younger years.