To give up work

[user853712]

If you had enough savings to comfortably take 1-2 years off work would you?
Im 38 been working for the past 20 years with no gaps in my employment history. In my time working I have managed to save a lot of money and could probably stop working for 2 years and still have a money left in my savings pot.
This past year I have been off work due to illness and its made me realise I don't think I want to go back to my job which I have been in for the past 14 years. Some days I do want to go back, some I don't it depends on my mood. I feel a like a different person after this past year and I guess my priorities have changed.
I work in retail so it's not like there will never be any other jobs that become available. I don't know what I would do with my time if I did leave I guess just try and focus on what I want in life and appreciate life more.
AIBU to consider this?

I saved up and went travelling for a year at 31. I'd always dreamed of doing it, it just took a while to save the money. No regrets, I'll be doing it again at around 60. Work for sixth months travel for six months. Or something. I don't want to be full time till I'm 67😱

My point is do it. Rent out your house if you have to. There's always a way!

I think it depends on how you plan to reenter work afterwards.

I can see the justification for wanting to use the time and the savings you have to take a bit of time out and give your life a reboot.

But it would be a real waste to just fund two years if aimlessness and then emerge at the end of it with nothing to show for it.

You don’t say if you have a partner and children and if you are planning to spend that time caring for your children. Or whether your husband or partner could support you.

Is there a course you could do to reskill?

By all means take a well earned break and take some time to think about what you want to do with the rest of your life. But I wouldn’t waste that money on just living without a roadmap out of it. You risk ending up just having spent all your savings with no way forwards.

Lots of volunteer opportunities abroad as well as local. They will look good on your cv when you return. X

A bit boring, but what's your pension looking like? Another option would be to focus your efforts on retiring early by building up your pension pot.

Not at all unreasonable, no. However, I'd want to make sure I had clear objectives that I'd plan to achieve with the time off, so that it would improve my life on a long-term basis. I think I'd want it to be an investment in my future, rather than just lie around the house for a year.

But, that's me. If you need a break, take it, if you can. And enjoy every minute of it!

I took six months off when I was 34, I would have had enough savings to have longer off, but I didn’t want to use up so much of my savings at that point. So the six months worked better for me and was long enough to recharge my batteries.

Problem is, of you love you work free life now, and in the next two years, how will you feel when you have no savings left and have no choice but to go back?

I think saving to put into a pension to retire early is a better plan whilst looking for a different job if you got to hate the one you've done for too long. At 38, you are still so young.

Is going part time an option?

I would do it if there was something specific I wanted to do with the time (e.g. I've had colleagues who took 6 months- a year off to go travelling). I wouldn't spend all my savings without any specific idea about how to spend the time - too much possibility that the time would just be frittered away and then you'd have no savings. Is your illness something that might reoccur, so having a safety net would be important to you?

I'd do it in order to do something constructive like travelling or studying. But I wouldn't want to use up savings to just potter about for a couple of years. You never know what you might need money for in the future.

It's make a lot of sense that having a serious illness would make you reevaluate your life. I agree with PP that a years holiday before going back to a job you don't love would not be ideal.

Could you think about what you would love to do and perhaps retrain for that?

Looking forward to going to work each morning when you wake up is an excellent way to live your life.

The world is your oyster. Good luck with working out what you really want to do.

Can you apply for a sabbatical? Keep your job but take a year sabbatical? It's more common these days.

If not, if you frame it in your cv as "career break to travel", and you've actually done that, it should be fine.

If you take 12+ months off to just sit at home though, it will be looked at less favourably (wrongly, but it will). Just make sure you have a good narrative.

I thought that lots of retail staff have lost their jobs?

Taking time out is fine but you need to be a bit more structured about it as others have said.

I took 18 months out when I was in my 30s, used that time to get a post grad qualification, as well as trying other jobs out vua temporary roles. It worked well for me.

I voted YABU just because I wouldn’t take the time off now - retail is going south as shops shut and chains go bust thanks to Covid and online shopping. The economy may tank- what will you live on if you can’t get work again in 2 years time?

Sorry if I missed it, but is your mortgage paid off? Have you got loads of pension savings? This is the age to massively increase your pension contributions if you haven’t already.

I know you only live once and all that, but I’d be wary. You may be able to get supermarket work etc after your time off, but hundreds of people apply for those jobs now, you can’t just walk in to one.

I assume you don’t have kids? Do you have a partner?

If you really want to do it I’d pay off your mortgage first, get a (good, trustworthy) lodger and have five years savings first. Spend the next couple of years putting loads in to your pension.

And don’t leave your job now thinking you can just go on lots of holidays etc - Covid may put paid to that for years to come.

Absolutely but do something with the time - I’d travel for a year, then you can come back and retrain if you want

I’d wait until the world opens up again and I could travel, then take some time to yourself.

I wouldn't right now and not without a very serious and firm plan in place.

I wouldn't right now because of the imminent recession and financial crisis that everyone keeps saying is looming. Savings presumably might suddenly be worth less and so on.

What is it that you would like to spend the couple of years doing?

I would think go for it, if there's something specific you are really keen to do (travel etc). But if you're just sick of the general work-life-balance could you go part time for a year or two?

@BrilliantBetty

What is it that you would like to spend the couple of years doing?

I would think go for it, if there's something specific you are really keen to do (travel etc). But if you're just sick of the general work-life-balance could you go part time for a year or two?

I think I would look at possibly retraining but not sure what i would do at the moment. Or possibly looking for a completely different job sector.

Part time would be ideal, although my work place is toxic at the moment. I have enquired about reducing my hours or possibly changing role in the business but manager has refused.

@VestaTilley

I voted YABU just because I wouldn’t take the time off now - retail is going south as shops shut and chains go bust thanks to Covid and online shopping. The economy may tank- what will you live on if you can’t get work again in 2 years time?

Sorry if I missed it, but is your mortgage paid off? Have you got loads of pension savings? This is the age to massively increase your pension contributions if you haven’t already.

I know you only live once and all that, but I’d be wary. You may be able to get supermarket work etc after your time off, but hundreds of people apply for those jobs now, you can’t just walk in to one.

I assume you don’t have kids? Do you have a partner?

If you really want to do it I’d pay off your mortgage first, get a (good, trustworthy) lodger and have five years savings first. Spend the next couple of years putting loads in to your pension.

And don’t leave your job now thinking you can just go on lots of holidays etc - Covid may put paid to that for years to come.

No partner or children. A year ago thats all I did focus on was my pension pot in the hope that I could retire earlier, but now I feel what if I don't get to that age and Ive wasted all that time saving for nothing.

I’d use a little of it to fund study around work if I wanted a change in career. You may need those savings for a rainy day and regret using it simply to not have to go to work.

Employers like recent experience, shows a work ethic, being upto date with technology etc.

Go for it ! life is short , you sound like you have your head screwed on , " toxic workplace " that would be enough for me in your position .
Why not make a plan for 1 years time then relax for the 1st part knowing you can still have another year off if need be .

With a plan, yes. Travel, train or volunteer. Think about the life you want to live and have some fun. To stay home and mope, no.