Long time poster but have name changed to get as neutral a view as possible.
I am mid fifties, divorced, new partner and living together, no mortgage in a house I love and work full time in a job that doesn't particularly get my juices flowing. Child finishing masters but has a graduate job lined up.
I don't know if it's the current situation or my employment but I am struggling to drag myself into work everyday and considering a life change, not immediately but when things ease up.
If I retired at the moment I would be able to draw down an income the same as my salary from my SIPP (4% draw down of total fund) I also have a small final salary pension that I can access in less than five years. My SIPP is going great guns despite the economy and I expect my retirement income to be a deal larger than my salary. I realise I am very, very fortunate in circumstances.
My job is okay but my boss is a micromanager, very frugal with salaries for employees and late 70s with little hope of retiring any time to let us just get on with running the company. There is very little in the way of benefits, no sick pay, minimum pension contributions etc. He can be very kind in some ways but I find his drive to make more and more money a bit off putting, especially as he is a multi-millionaire and his children are not interested in taking over the company.
I am tempted to make the leap and would like to spend the remainder of my life pursuing the hobbies and interests that I struggle to have time for. I would also like to invest more time in friendships and take up some voluntary work. I feel that I have spent my life in the service of others ie marriage, childcare, family and would like to make the most of the 'go-go' years.
Ideally I would like to do a couple of days a week in a coffee shop or restaurant. I have a passion for cooking and catering. The rest of the week on my hobbies and interests. My partner is also heading for retirement but probably will wind down gradually as he has a career with lots of benefits. We would be able to travel together but he wouldn't be around all the time during the week.
Should I make the leap? Am I too 'young'?
Yanbu - go for it.
Yabu - you're mad, you'll get bored,