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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

Would you choose to retire early if you could?

59 replies

FlappertyFlippers · 28/09/2014 21:50

Aibu to ask if you would choose to retire early if financially it was an option?

Dh has always planned to retire early as he has type 1 diabetes and is aware that he'll probably suffer from its effects before he's 65. Therefore he has spent the past 15 years working extremely hard, saving/investing his spare cash, etc to fund his early retirement. He's now in his early 40s and once the mortgage is payed off (in 14 months) he could afford to have a decent standard of living without working.

I am 10 years younger than dh, I work very part time (16 hours a week term time only) and the money I earn is not great but its mine and I have good job satisfaction.

This weekend dh was discussing his retirement and he'd automatically assumed that I would 'retire' when he does. However I feel way to young to stop working. So I guess what I'm really asking is 'retiring' in your early 30s unreasonable?

OP posts:

thecatneuterer · 29/09/2014 01:41

I went half-time aged 38 and retired completely at 48 as I am financially able to do so. It's been wonderful! I can indulge my hobbies, spend an awful lot of time in nightclubs and dating 'unsuitable' men and then catch up on sleep the next day, and can give time to my vocation of animal welfare work which I do on an ad-hoc voluntary basis.

So I have no horrible commute, I can get enough sleep, I can have fun, feel personally fulfilled and feel that I am doing something to make a difference in the world.

If I need to wait for a delivery/ the gas man/ go to the dentist or whatever it's no hassle and I don't have to arrange any time off.

Most importantly I feel I have total autonomy.

I feel incredibly lucky and find it amazing that people feel their days would be boring/empty without work. My days at work were a hell of a lot more boring and unfulfilling.

AlpacaMyBags · 29/09/2014 01:59

This reply has been deleted

Message withdrawn at poster's request.

dailygrowl · 29/09/2014 02:03

Haven't read the whole thread, OP, but just to say I am surprised your DH would want you to retire too. Him retiring - I understand, because of the diabetes. But unless he has at least 10 million saved up in a very mixed portfolio of various different things from property to shares to savings, etc etc, surely it is a bit risky with both retiring. Not because you'll spend lots but because you are both not old yet and have many more years of living to pay for. Plus, he might not realise what a huge shock retirement might be - could be a fun holiday for the first 2 months, and then after that, "yikes, what do I do next?". Having a wishlist of 50-100 things to do/places to see is all very well when you are working and holidays sound like bliss but if you are on permanent holiday that could start to seem less blissful after some time, because it's not a treat any more. He might well be the one thinking, actually I wouldn't mind working part time. I have a relative with a serious health problem (on medication) and she'd actually prefer to continue working (she's fit enough for her job) till she can't at all (ie paralysis or death!). Nothing more morbid than sitting at home and thinking, 'ooh, am I going to be more sick this week then. Or next?' If you have children or elderly parents to look after too, then of course that's different, as those are occupations in themselves. But with DCs, it is actually healthy for them to see one parent still working, as it sets a good example for them - part time is fine.

To go back to my point about the " a bit risky " thing - something might happen to one of you (of course I hope it doesn't) or both, and you might need the source of income to keep you going. Eg we have friends in their 70s who were very successful in their business - when they sold up they got over a few million. They gave a lot of it to charity thinking that they would be fine when they retired. The husband got a disabling stroke and to look after him (the wife isn't fit enough to do all of it herself) was extremely expensive - they regretted not putting aside more for unforeseen situations like this. They always assumed they'd die quickly or get an illness and then succumb in hospital. They hadn't envisaged recovering from it and being extremely infirm for an unknown number of years. But you know, there are other unforeseen circumstances too - fire, natural disasters, or just bad luck that affects our savings. If one hasn't been in the job market for years it can be difficult to get loans or credit or a mortgage if you should suddenly need one for any reason. I'd say 30s is much too young - for your sanity as well as for financial prudence!

wobblyweebles · 29/09/2014 02:16

I'd retire if I didn't like my job, then fill my time with things I enjoyed more - that might be study, another job, or something else.

I'm curious to know how much he has saved for the investments to be likely to pay enough for you to live on at this stage?

HicDraconis · 29/09/2014 02:46

If we could afford it - by which I mean maintain our current standard of living, including overseas trips (which are expensive from here), support our children through school and further education, not worrying about finances at all - then I'd retire tomorrow.

Sadly we can't - I'll be paying off the mortgage until I'm around 50, after which I have another 10 or so years (at least) to earn enough to save for both mine and DH's retirements together at around 60.

Still gives us lots of time to have fun.

Pensionerpeep · 29/09/2014 06:43

This reply has been deleted

Message withdrawn at poster's request.

TheRealAmandaClarke · 29/09/2014 06:51

Oh yes.
All my teacher friends in their 50s are retired. I am so

backbystealth · 29/09/2014 06:56

I love my job. It's very very important to me and my identity. However I am late 40s and my energy ain't what it used to be so the thought of working past early 60s is daunting.

By then I might be ready to quit.

Mortgage wise - nope won't ever pay it off I doubt (central London). We'll sell and buy with the equity and move somewhere much smaller.

Bu the thought of rattling around my house with my dh all day every day is !! We'd drive each other insane!

FrontForward · 29/09/2014 06:57

Yes I'd retire tomorrow if I could. You don't have to sit around being bored. I have a list a mile long of stuff I'd do with my time.

youbethemummylion · 29/09/2014 06:59

If money was no object I would but would find fun, interesting, fulfilling voluntary work to do otherwise I would go stir crazy.

HamishBamish · 29/09/2014 07:12

If I was completely sure I had enough money to live a comfortable life and I didn't have any children, then definitely!

PumpkinBones · 29/09/2014 07:16

No, I wouldn't.

twofingerstoGideon · 29/09/2014 07:20

Who will fund your own pension, OP? If you're not working and not contributing to a pension will you have financial security when you reach the age when most people retire?

I'd love to retire at 60 (not an option for my age group), but will have to carry on until around 70 probably, so if I was given the option of retiring earlier than that I'd jump at it. In my thirties, though? Not so sure I would.

Philoslothy · 29/09/2014 07:23

Yes I would. I am in my early 40s and at home. This feels like retirement now tbh and feels rather fabulous. I manage to find plenty to keep me interested but have so much freedom and no pressure or stress.

Pagwatch · 29/09/2014 07:29

I haven't worked since I was in my mid 30s. DH stopped working at the start of this year. He is 46.

I think he is going to want to get another job tbh. He's been at home for 9mobths and with school age children we can't bugger off anywhere really so he is getting bored.
I think he'll find something to do for five years or so then stop properly when we can travel.

Shesparkles · 29/09/2014 07:34

Hell yes!
The main reason being that my mum was diagnosed with Alzheimer's disease at 57 when she hadn't even retired (although she worked part time in a job she adored)

StupidFlanders · 29/09/2014 08:00

Oh I thought this was going to be about retiring at 50 - but mid 30s!!!
I couldn't retire while I still had dcs at school (which will bring me to about 50) I have reduced the number of days I work though. As pagwatch said you can't bugger off anywhere while they're at school so everyone I know in your situation has returned to work very selectively - which is good so it's worth a shot if you can!

skylark2 · 29/09/2014 08:03

I wouldn't have wanted to retire in my early 30s even if I could.

You're only working massively part time anyway - I'd keep working if I were you. Maybe discuss with your employer whether you'll be able to be more flexible with when you work. It'll be a pain and rather expensive if you have to continue to take school holiday holidays.

whois · 29/09/2014 08:29

Retire early at 50 - hell yeah!

Give up work in mid thirties - no chance. What a waste of education/ training.

AmberLav · 29/09/2014 08:40

Have you reviewed your own financial situation is DH does pass away at 65? That would concern me the most, as trying to get back into work at 55 would be tricky...

My DH is also 10 years older than me, so I am looking at retiring at 55 (currently 35), but then the women in my family seem to live to 95, so that's still an awful lot of retirement! I'm hoping that I will be able to pick up some contract work here and there, as I do want to be able to see the world etc with DH, but our kids will only be late teens/early 20s by then!

I think your DH and you should have discussed this sooner - we've already chatted about it, and our retirement is 20 years away!

fellowes · 29/09/2014 08:47

if you can afford to go out and do things not just sit at home worrying about money then go for it .

TakemedowntoPotatoCity · 29/09/2014 08:48

God yes
I'd retire tomorrow
If money was really no object I would travel, visit museums, galleries etc, see all the films I have never had a chance to see and rewatch old favourites, visit anyone and everyone, do the odd bit of volunteering, redecorate / garden....
Not a chance I'd get bored.
Come on lottery win :)

chrome100 · 29/09/2014 08:49

I would work part time if I could (in my 30s) but certainly not retire! I think I'd get bored and wouldn't appreciate my free time as it would all be "free". I'd end up volunteering or studying to fill my days, when I may as well work for money in that case.

I think if you work til 65, you're getting a bit knackered by that stage anyway and probably need the downtime. Not quite the case if you're 40.

ScrambledEggAndToast · 29/09/2014 08:52

I'm 31 and am definitely aiming to retire before the age of 60. Hopefully around 55-58. DP and I will be getting our first mortgage next year and aim to work really hard to pay it off a few years early then the last few years can be spent topping up pensions as much as possible. Don't want to wish my life away but it will be fab

Only1scoop · 29/09/2014 08:54

No....I love my job now I'm
Part time and the perks that come with it. I'm 41 and wouldn't be giving it up at all.

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