Offered a great job at nearly 60 and unsure whether to retire or take it, please come and tell me what you'd do, especially if you're in your 50s!

[Strawberriesandcaviar]

I'd love to know how others have handled this and would very much welcome some perspectives, so please post even if you disagree with me or have another POV, thank you.

I've been working for years and I'm good at my job but don't love it. Neither do I hate it and most days I enjoy it. I'm well paid and work remotely.

I'm 60 next year and my dilemma is this:

I've just been offered a well paid job and I'm torn between

1. Accepting it and working another few years, 5 maybe and
2. Saying "life's too short" and turning it down

If I turn it down I will stay up late, get up late, read loads, see films, spend more time with friends, visit my adult children who live a few hours away, maybe travel a bit. In other words, relax for the first time in 40+ years.

DH would be working though so I'd do it alone. We would also have a lot less money but we could cut back though and it would be fine.

If I turn it down I'll be unlikely to get another job (at 60+) so that will be it.

What did you feel about work in your late 50s?
What would you / did you do?
Did it work out?
Do you wish you'd retired earlier?

One friend said "you'd be a moron to turn it down" as it is loads of money and I like the people. So it's a WWYD.

Thanks for any and all views.

I’d take it for 2 or 3 years.
Sense of achievement, bolster your savings for a great retirement alongside your DH, etc

This 💯

I’d take the job and try to save enough so that I didn’t have to “cut back” in retirement - why would you want to stop work early (assuming you are in good health) to have a lesser quality of life?

I want to enjoy my retirement to the max (which mostly will involve travelling to all the places we couldn’t afford when we were younger!), so will keep working for as long as necessary to achieve that (I expect I will work part time even after I “retire”, as I enjoy my job and think I’d deteriorate quickly if I didn’t. DH will do the same, but in a much lower stress job than he has now).

Given your plans for retirement I'd work a few more years - just kind of hanging around with a lot less money won't be attractive for long and is the way to slip into an "old" mindset. I'd also be wary of plans that are too reliant on visiting adult children who have chosen to live hours away, visitors being like fish and all that...

I'm in my 50s.

If you could afford to and wanted to do loads of extended periods of slow -travelling or do a big time consuming passion project you've never had time for (write books, get your art career off the ground, set up a women's/ health or whatever charity using your extensive professional knowledge and contacts, or whatever it might be, get your PhDas a vanity project because you've always wanted to) then I'd retire, yes. Essentially the plans you have aren't worth giving up the job offer for though, they're suited to retirement age retirement a bit later than 60 and will get old and unfilling within a few years.

That's just my opinion - retiring on a lot less money than you're used to with no plan other than sleeping in, reading and visiting your grown up children is something for people who absolutely hate their jobs or are already in poor health and afraid they won't get any retirement if they wait a couple of years.

I'm 53 and currently work 4 days a week. My current work plans are to cut down to 50/60% WTE when I'm 57 and can take one of my pensions without much reduction in payout. Not sure how long that will last but I probably won't work past my early 60s due to good pension entitlement, I just won't need to.

In your shoes I'd see if I could take the job to start in September, so have the summer off. I'd also see if I could do it part time, eg 3-4 days a week. Also maximise your pension contributions and think about what your pension entitlement looks like so you can see when you can start using it for income.

Life’s too short!
im in my late 50’s and have just given up a fairly well paid job. I want to enjoy life and not stress.
However I will still work but in a much lower grade role and only part time.

Retire!!

I’m 60 next year. Still working FT. Still love it.

Take it, you can always quit if you change your mind. I'd want to retire at the same time as my DH.

Retired at 60 and love it. Lost too many friends and family to ill-health and death to spend another day working when I can afford not to. Lots of holidays planned.

I'd take the job. Barring anything unexpected, you will still have a long retirement to do all those relaxing things, and it sounds like you will enjoy the new job. You'll certainly enjoy the money.

I would take it, in the knowledge that I could hand my notice in down the line if I didn’t enjoy it and had regrets

It all depends. As always, how much can you draw from your savings or pension if you rerire now?
I was made redundand few weeks ago and made up ny mind I am not going to look for another job. My "disposable income" after bills/all regular payments is going to be £1k. I know all my outgoings and pension valuations. I am going to be 60 in November.

This seems so odd. Why would you think of retirement if you can work, unless it involves really long hours, a huge commute etc? I’m in 60’s, happily working and no intention of retiring. Anyone I know who retires (only one person my age, everyone else has been significantly older), does so due to medical issues that prohibits working further. I travel, sometimes for several weeks at a time, with leave (mainly annual but have also done with long service, but appreciate you don’t get that in UK) so it’s not that work means you can’t travel.

I'm 57 and I'm out the door at 60 (or maybe 61 because I'm an old mum and DS won't finish uni until then)
I can't wait to retire to do all the things you talked about, and do more volunteering, which I love.
Unless the new job will make you very happy or you need the money in the longer term, I personally wouldn't take it.

Take it. You can always leave if you decide it's not right for you. But once you've turned it done you might never get another chance.

I'm not in my late 50s, but I can tell you anecdotally that I see a strong correlation in my patients between those that continued working into older age and those who are mentally sharp and/or physically strong. And I do include volunteer roles, part-time and artistic roles (like am dram) in work. The mental challenge, the social contact, and the physical discipline of work seems enormously protective to me.

Obviously this may be different for those with no choice but to work in stressful jobs, toxic environments, or roles that are unrewarding to them.

If you have the choice, I would say work keeps you young.

I'm starting a whole new job/career in a few months. I'll be 58.

It doesn't pay particularly well, but enough. Technically I could survive on my private pension, but having been a SAHM/small business owner/part time employee for years I'm really looking forward to the challenge, because I don't feel ready to 'retire' yet.

That said- if it gets to be too much after a few years, I still have the option of retiring and drawing my pension.

I'd take the job and see how it goes.

I am mid-50s and having recently lost close friends to cancer I am very much of the mindset to go with option 2. In a similar dilemma, I have the option to go into another very well paid role in another company and potentially earn more money for another 4-8 years or take a risk with another job completely, working self employed part time with a smaller income and fitting around my hobbies and potentially a small local job I enjoy. I can't fully retire and need to 'do something' but I am done with the rat race and a job I tolerate for the money.

I fantasised about being able to have a little p/t local job for years but now its in the palm of my hand I am still debating whether to go with the money but need to remind myself life's short. Most of my friends are still working anyway so my advice is to relax and enjoy life, especially if you don't need to chase the big bucks.

I am also 60 next years. Have been freelance for 25 years and am now actively working towards retiring. I can't wait to spend my days doing all the things you describe - I am so sick of working. I'm in slightly different boat financially, very fortunately for me, as I am in a position to stop work.

For you, however, I think I would be inclined to take it and bank a couple more years' decent salary and (presumably) pension contributions. You don't have to stay for 5 years - give it a year and then see how you think.

Also, as others have said, think of it as your last job. That gives you a lot of freedom as to how you'll manage it and your own time.

Absolutely agree. I took early retirement at 58 and never looked back.

I’m going to go against most of the replies. I’d retire to make the most of spending time with friends and family while enjoying new hobbies or travelling. I’m in my sixties and retired early. It’s wonderful not having to go out to work in the heat, rain or early on dark winter mornings!

She works from home so she already doesn't have to go to work in the heat, rain etc.

Take the job. I’m 55 and can’t imagine retiring at 60. A relative of mine did and has now been retired for 36 years.

Lives too short. If you can afford to retire do it. As previously said I retired at 58 and loving it. I’m now 62.
My husband is the same age but still works as he’s not ready to retire.
You’ll know yourself if you’re ready. If you genuinely feel you can’t retire, take the job on the proviso if it becomes too much or you’re not enjoying it you can leave.