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.

Having read your updates, OP, I would take the job, start paying off the mortgage/stuffing money into your pension/ISAs and see how it goes. That way you have a fighting chance of not having to cut back on your lifestyle as you grow older (or have scope to deal with any health setbacks that might affect you or your family).

Hope it goes well.

Life is unpredictable. My neighbour retired at 60 & died 4 months later. If you can retire now, do it. Enjoy the life you have left.

I mean you can take it do it for a year and see if you want to continue for 5 years or not. There will be no what ifs

I was intending to retire at 60 because of changes in my then job and feeling I was too old to deal with that sort of shit. Then I saw a great job advertised (and at 40% pay increase) and thought "why not?". Did that for 5 and a half years, hard work, but a real chance to make a difference. Retired at 66 but still doing work for them on a zero hours contract because I get to choose what and how much I do. I think I would only take the new job if the job itself was fun/satisfying, not just for the money.

Yeah I’d do it for a few years. No reason not to earn a few million before you give up work

Glad you have decided to go for the new job OP, you sound very happy about it.

You will know when it’s time to stop working. DH loves being retired and thrives on it, but he had so many plans about what he wanted to do. It’s also good to make retirement a conscious choice, not something you drift into because you’re the right age. The potential ability to gradually reduce hours sounds perfect for a staged step down.

I do agree with the poster who said about seizing life now. You could use your salary to go on amazing holidays, maybe treat your adult DC if you want to see more of them.

Thank you and I agree. We do have a pretty amazing life already and are good at spending money in a way that makes us happy. And our children get treated fairly often - I love being able to do that and want to continue doing it.

I got made redundant at the age of 63 and found a new job. Three years later I was offered another job and I felt excited about it so I moved. Almost another three years in, things in the new company have changed a lot and I’m in the process of being made redundant, so I’m retiring. The extra six years of high earnings have made a significant difference to my pension pot and until now I haven’t felt that retirement was where I wanted to be. In the past six to nine months or so I’ve realised that even when recruiters contact me about opportunities, I’m not feeling any stirring of enthusiasm, despite seeing the direction of travel in my current organisation, so I’m comfortable I’m now ready.

Take it, try it, and if you don’t like it and regret your choice you could retire then

I retired at 60, and I don't regret it. I could be dead by 65 (as could all of us), so I want to make the most of the years I have left.

My DBs both retired in their 50s on CS final salary pensions. Neither have done a lot with their retirement. One because he doesnt really know what to do with himself. The other because he couldnt really afford to retire.

I will retire in my early 60s (currently 59). I have inexpensive but absorbing hobbies and DGC. I have half an idea for a small business based on one of my hobbies, I still want to have enough energy for it.

For you I'd probably say give the job a chance. If it doesn't work, or your circumstances change, you can leave.

Having said that at 59, I've just left a job I absolutely hated. Not saying I won't work again, but I don't really want the stress or commitment. Also, my DF passed away before he was my age, life is too short. I'm lucky though, DH retired 18 months ago, 3/8 friends don't work, another going that way, and my other friends are part-time. I have hobbies I can just pick up inside the house, and also outside. We're away this weekend, have three mini breaks booked for June, August and September, and may do longer trip in October.

We're basically living in DH's pension, just over £2k pm, so we know we'll have plenty of money when I take my small pension and get state pension.

I would take this job, put as much money as possible into your pension and live somewhat frugally to build up a decent lump sum of money. You can see what the job, co workers ect are like, look at your pension and savings each year and decide when to retire. So many people are stuck in jobs they don't like because they have kids in college, have mortgages etc.

I have a friend in her mid 50's. She is planning to get a part time job next year to improve her finances. She has being doing voluntary work and can use this to get back into paid employment. She hopes to do this for a few years.
She also does not want to be as available for care of elderly parents in the next few years due to a large number of valid reasons.

I would do it and use the next five years to squirrel away as much money as possible for retirement. Even if you had an extra 10k you could make some wonderful extra memories. Really depends on what’s important to you though

Take the job and give it your all for three years. Decide then whether to drop down in hours, retire etc. You are so lucky.

I was going to say Retire but taking the new job allows you to do the things you love to do, so that makes you happy... retirement isn't for everyone.

I retired at 57, have plenty of money for what i want to do and don't miss work at all but we aren't all the same.

Do not retire. Take the job and enjoy the money. Save most of it if you can. That's what I'd do anyway - never take the easy path!

Ask more questions. Allow them a key. What would you do if sparks set the roof cavity alight and they could not get access to turn off your power or to use water ?
Ask them to educate you on their reasoning.

I took a new job at 58 and have just retired, 7 years later. I’m very glad I took the job. I met lovely colleagues, developed new skills, realised I had skills I was unaware of and was able to hone skills I knew I had. The job was rewarding as it helped others. The money obviously also came in handy! Now I’m retired I realise that it’s easy to spend money when you have more time on your hands. Your children are adults, so can come & see you just as well as you seeing them. Use your annual leave and days off to do things you enjoy. Part of the reason I retired now is that DH has also retired, so we can do things together. I definitely recommend taking the dream job and working for a few more years.

Take it and put as much as you can into your pension.

I would take the job and if I liked it keep
doing it, and if I didn’t retire after 6 months (or a year to get a full contribution into my pension.)
Otherwise you’ll never know. 60
is young to retire and this might be fun, you never know.
However if your stomach really sinks at the idea of doing it, go ahead and retire. Your gut knows.