To retire at 42?

[milkandcrisps]

Obviously not actually retire. Here is my situation. I have no family at all and no partner and few friends.

I am considering having a child. Because of my age I would have to do this with fertility treatment.

I have thought and thought about how I might be able to work with a child and I’m not sure it’s possible. Nursery costs are too high. Plus sometimes I have to do anti social hours.

So - I am considering retiring aged 42. If I took even five years out it’s unlikely I’d get back into my line of work. I don’t think I care as I hate it but am I mad??

Why is she being unreasonable if she has paid into the system all her life and now wants something back?

The benefits system isn't there to support someone who has no disabilities but just doesn't want to work when they hit 40

But anyway with UC coming in, people won't be able to do that anymore anyway. If you don't work you're penalised, and you can't use having a young child as an excuse either - I'm pretty sure under UC they expect you to be working at least part-time once your child is 3 else they'll cut your money.

Left, she will be deemed to have savings in the form of her property and thus will not be eligible for state help. I think she knows this.

I would crack on quickly with the fertility treatment while you are still working. I assume you would receive maternity pay. On returning to work you could request flexible working or part time. If you are unable to continue working in your original job, then you can look at your plan B. When child goes to school you could look at some other types of work. I am sure that you will find a way of making things work out in the future.

So will you ever be able to sell the house, ever ever?

I don't get why you can't sell the house OP as if people want to rent then they will want to buy. If there is actually a good reason beyond the fact that you just don't want to sell then you are in a really bad position financially. If the tenants default you won't have any income and whereas someone losing their job can claim benefits you won't be able to (I don't think) if you have a second house as an asset.
You really need a hefty amount of savings and/or insurance to protect yourself. If you feel living on £450 is possible why not try living on £300 a month after paying rent and saving the rest of your income?

For me it’s not the financial piece that I find most disturbing.
The OP has stated she is angry, bitter, selfish, without family, few friends, hates her job, and has a shit life. Yet some think this is just fine and a suitable environment for a child.

Is the house you rent out nearby? Could you serve notice on the tenants and move into that?

i am only guessing but the reason why the house can not be sold will be either the terms of the will

1. that it is in trust and she can have the rent for her lifetime or live in it but ultimately the house will be passed on to another family member so she can't sell it

1. the house has been left to OP and perhaps a sibling and they have half the rent each, they may not be able to sell it depends again on terms of the will

my guess is the OP hates her job ( we know she does she said so) I presume the house she owns is in a cheaper part of the UK but that is not where her current job is, so is she moved back there she would have a roof over her head paid for that would give the yet unborn stability as will not have to move house change schools at landlord's whim, she will have the 450 from other house rental, as this house is in a cheaper part of country council tax may well be much lower as only an a/b band house CB is not means tested so she will get £20 a week just over £80 a month, I would assume as OP is currently single and earning 45K she saves some savings and even if plan started tomorrow and she got IVF soon she has another year to save hard this could easily provide a cushion until child is 3 and in nursery school

using a little savings and being savvy it might be doable

£530 in a small house/flat

£100 council tax, electric/gas maybe £50-60 water £12 broadband etc £30 with this will almost certainly come a landline with free evening calls so a SIM only mobile at £6-7 a month would be sufficient £200 for food/ toiletries and laundry, christmas & birthdays etc £30 a month. clothes and nappies £30. leaves about £48 for transport/ clothes haircuts for you/ toys/ eating out/ entertainment etc

if you can save enough upfront for big expenses up front car/ mot/tax/insurance/ fuel I presume you already have furniture so just need a cot and pram/buggy for baby and have an emergency fund for boiler I think it is just about doable

look up financial freedom etc

The two houses you own - are they close by and is either in a decent area?

I would live in the cheaper one and rent the other out on Airbnb if so. Or live in the larger one and (presuming there is a spare room) rent that out regularly on there. You might get £40-100 a night depending on how nice the house is. You'd have to stop while you have a very small baby but after they're a year old you could do that regularly to top your income up.

If you're near a city, a friend of mine gets £1000 a week taking in students. It won't be that lucrative everywhere but it's worth looking into. They're short term students and are out studying every day and are taken out for trips at weekends so aren't much work.

I think being a childminder in your late forties/fifties would be absolutely exhausting but there will be other things you can do

I do get it op. I have had to decide not to have children despite desperately wanting them, due to having terrible health. It is unbearable at times but it was the right decision (for my hypothetical children, so to speak) and there are upsides. Gateway Women might give you more support on making this huge decision if you haven't come across them.

I do think you should go for it because you do have a degree of financial stability, but I would move forward with a view to making some solid friendships and coming up with lots of ideas as to how to make a bit more money. Your rental property will definitely need maintenance work at some point - as an income it isn't secure enough to rely on. Insurance doesn't always pay out. Rats just got into my home and did 1k of damage and my insurance doesn't cover rodents.

that it is in trust and she can have the rent for her lifetime or live in it but ultimately the house will be passed on to another family member so she can't sell it

She says she has no family at all though so that doesn't seem very likely.