Would you retire early if you didn’t need the cash?

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I am mid fifties and financially independent. OH has already retired but I have stayed on so far. Theoretically it’s part time, in reality it’s not and despite trying to change this, I’m working more than ever. It’s unlikely that more discussion will improve work/life balance. Kids are all up and grown, no grandkids (yet!) so no caring responsibilities. I work for a small company which would massively struggle without me in the short term (not trying to brag, honest!) and I feel guilty considering screwing over the owner/colleagues who are friends

I do quite like my job on a good day but it’s stopping me from moving on to a new chapter/hobbies/friends/quality family time and sometimes I resent it for that. It encroaches on ‘at home’ time too so it feels hard to get away.

I think I could fill the time ok, but it feels like I would lose some of my identity and a sense of real purpose. Basically I have been having a year long dither so far, with no end in sight!

So to the question....would you work if you didn’t have to? Have you quit and either loved or regretted it? Is it shallow to just exist for pleasure while still able to contribute?

YABU - get that resignation letter in pronto, life is too short
YANBU - get your work shy butt to the office and stay there!

Can you make an action plan with the business owners/friends? Say you would like to start preparing for you properly stepping away and need to reduce your hours? They need to think about how the business would carry on. It shouldn't rely on one person.

Yes, I would retire. Life is short. My dad only got 7 years of life after he retired. Make the most of it if you can as you don't know what's around the corner.

Mid 50s here and always said I would retire at 55 and was open with employer. Resulted in me going onto a fixed term contract 18 months ago so they could recruit replacement and have a long handover (plus give me time to work on something else that needed doing). Glad it happened that way because I don't need to resign and I think I would have dithered too.
What's next? The things I currently squeeze into non working hours will expand, a couple of thing I haven't had time to do will now be possible, and I am looking for volunteering that uses my skills. I think of it as a portfolio of activities and hope to find a balance between them all.

I am much younger and I would retire today if I could afford to. Work will survive without you

Unless you're in the position of actually being retired you don't know how it feels. One sentence in the OP jumped out at me, I think I could fill the time ok, but it feels like I would lose some of my identity and a sense of real purpose. I retired at 53, final salary pension so don't need to work.

I was fine at first. Did all the DIY/decorating jobs which I'd been putting off for years. I went walking with a walking group, did fitness classes and joined art classes but after 6 months I was just bored with no sense of identity. I then applied for a three jobs, got them all and am now happily two years down the line still working in my post retirement job. I think it does make a difference that I don't 'have' to do it but I'm happier than I've ever been although saving to travel to all the places I've wanted to go to.

A lot of people who retire will tell you similar things. The amount of people who can't wait to retire; can't wait to spend all their days on the golf course and a month into retirement they're climbing the walls looking for a job.

However if you don't need to work and you hate your job I'd go for it. You can always apply for something else if you get bored.

If I could retire early, I'd volunteer for a few different charities and pursue hobbies. I'd go on holidays, do yoga and learn how to paint pictures and become a fabulous casual artist. Oh and I'd also become an author too but just for fun.

Retire now, don't work if you don't need to. Life is too short. If you get fed up, you can volunteer.

I am hoping to go part-time at 50. I suspect, like you, that I will be given more to do than will be feasible with part-time hours, in which case I hope to be in a position to go freelance. I also have a hobby that I'd like to turn into a job when I go part-time/freelance, so I can do it without having too much pressure on earning money, which would take the fun out of it!

It sounds like you're definitely starting to look at it the right way - the problem is when your current job is taking up so much of your time and energy, you don't have the resources to start planning the next step!

I did worry that I would miss the social side, that I would feel lost after 38 years of continuous full time work, that my relationship with my mostly retired DH would suffer, but none of those worries actually materialised.

I'd give up work in a heartbeat if I could afford to. I enjoy my job, but it's very stressful, I've actually worked full time for 33 years now and tbh I'm tired.

I've plenty of plans to keep myself busy if I didn't work.....all those hobbies I've wanted to do but just don't have the time. I just need that lottery win 😂

I did, and now just work a couple of days a week voluntarily.
It gives me a sense of purpose but at the same time I am not tied down to anything. I could do more days but am happy with two.

I’m a lot younger (31) so I probably wouldn’t stop altogether but definitely go down to 3 days a week I think, or replace it with trustee/charity work etc if I was really wealthy enough to never work again. I certainly wouldn’t be doing the 9-6 Monday-Friday grind ever again though.

Art classes led to friendships and informal groups that me, which of course was free. We continue via Zoom and will getting together for outdoor painting soon.
Horse riding - very sociable as it turns out.
Walking
An on-line writing group
As I said earlier, I have some part-time self employment, but honestly I don't know how I found time to work full time.

I’m 51 and genuinely work part time hours (no extra work). It suits me for the stage of life I’m at right now. I have a nice balance of work and free time.

I could have carried on full time and invested the surplus into savings/pension but, like many others on here, I have seen too many people die before reaching pension age.

I don’t think I will be a particularly “active” pensioner (for want of a better description!). I suffer numerous pains, sciatica, I’m actually at the stage of thinking of seeing the GP because I think it could be fibromyalgia. Anyway, my point is that I want to enjoy life now while I can still go off on trips, do all my hobbies etc. Because I don’t know what the later years will bring. I mean I don’t expect to just be sitting in a chair when I retire but I don’t see me going off on big adventures like I have been. Long haul flights already leave me in a lot of pain. I see now why cruises are more popular among the retired!

Whatever you do decide to do, I think you have to address the work situation. You’re not “screwing over” anyone. You have a right to live your life the way you choose. I agree that if you hand in your notice and feel something is “missing” you can always volunteer at something that interests you. I’d do what a pp suggests, give a decent length notice period so they can find someone else and start doing what you want to do.

Absolutely. I'm looking to retire at 60, if not before. I'm 56 now and I can see a big restructure coming up at my work in a couple of years time. I'd take voluntary redundancy and take my pension (which is a good, final salary one). My husband retired on ill health grounds, and he will be 68 by the time I retire.

I'm also very aware that my mum died young, and only got to enjoy two years of retirement. Our mortgage was paid off ten years ago, and DC grown up, so I'm saving quite a bit for retirement now, on top of my pension.

A close friend's husband died recently at 56, and I've been thinking about my mortality a lot. Certain things that have occurred at work over the last two or three years mean that while I enjoy my job, I have absolutely no loyalty to it. I know that they really don't give a shit about their staff.

Yes of course you should go! I am planning to retire either at 58 or 60 (depends on how private pensions perform as to when I will hit LTA on pension funds), I will be financially stable, mortgage paid off, pensions sorted and so many things that I want to do. Why would people want to work until they were 67/8 or older if they were financially stable before?

Do make sure that you have Plans and Things to Do though, both day by day and Special Events, as pp have said, if you don't then you'll get bored and think that you might as well go back to work to keep yourself entertained.

Perhaps have the discussion with work though "I am planning to retire in January 2022... how can we make sure that work is handed over and nothing is dropped etc...." if you are concerned that if you suddenly up and vanish that the company will really suffer.

I would retire early and do voluntary work instead.

I don't think I would struggle to fill my time constructively at all!
I enjoy my job, but I would work less if I could afford to. 2 or 3 days would be perfect!

I’d give a long notice period and start working part time as agreed. Then plan to retire in 6-12 months.

Another thing that influenced my decision to retire at 58 was that my dad retired at 60, my mum was 10 years younger. My dad died at 67 so my parents didn’t get to enjoy any retirement together. There’s a similar age gap between DH and me and I really wanted us to get some quality time and travel while we were still fit. COVID has buggered up some of that of course, but we did manage to do some travel before it struck and will do so again hopefully.

Life is too short. And don't rely on being able to have adventures at 60 - you may find that things start wearing out before that. certainly the case for me although could be due to earlier adventures.

Always plenty to be done to challenge you outside paid work.

Why would you be "screwing your boss over" if you retired? If you want to retire and you can retire do it, no point lying on your death bed regretting wasting your life doing something you didn't want to because you're afraid to let your boss down, they'll find someone else, everyone is replacable in work I'm sorry to say! You can't replace lost years though

I retired a few years ago. Spent 16 months at home ; gym, granddaughter, dog, holidays, etc. Loved it. Am nearly 54 now and as soon as I can, I'm going to holiday / travel as much as I can.
When I couldn't do much during COVID, I got a part time cleaning job which I'm still doing, and which I love. Going from teaching to cleaning is fine for me, but I can see why some people would feel a loss of identity, etc.
I'm a bit like you, op, wondering ( worrying?) how people might cope without you ( it took me a few years to leave my school, and am surprised at how little I miss it ! A few members of staff, yes, but that's it). They manage just fine. I do now though still find myself thinking the same about next year and how our small cleaning team of 3, will 'cope' without me. But, of course, they will. I think it's just the type of person I am.
I, too like pps, have seen too many people not get to experience freedom after work, so am going to make the most of it.
Life's not a dress rehearsal !

My mum died young, so I too will be reducing my working hours when I hit 50.. perhaps 2/3 days a week for a better work-life balance. I’ll never retire though, I love the buzz on my job and it gives me lots of joy.

I would talk to your boss about reducing the scope of your role so you can actually work part time.
This will help with future planning for the business as well.

Once and if they do this and your job is properly part time, you can assess if you want to stay or not but have more energy for other things on non working days.

Nobody is irreplaceable

If you can afford it, retire

I would think of a date & give your employer plenty of notice that you are retiring

Nobody says, I wish I had worked more

People say, I wish I had more time with family, friends, pets, hobbies travel

Make a plan