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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask when realistically your will retire?

253 replies

SleepDreamThinkHuge · 19/07/2022 21:07

Do you think you can retire before 65?

And if you cannot retire before 65 do you think you will be able to work less hours (part time) topped up with your state pension and still afford life?

Anyone else think retirement will be a myth especially if you retire in the 2050s where the projection is that the retirement age will easily be 70 plus. The thought of people having to work at 70 is quite a sad sight.

OP posts:
choirmumoftwo · 19/07/2022 23:49

@Mrsherdwick if you worked at Nightingale North East we probably know each other. I did exactly the same thing!

LabiaMinoraPissusFlapus · 19/07/2022 23:50

Not looking at retiring and I honestly don't think that's a bad thing . I'll work part-time for as long as I can. Everyone I can think of who retired, massively changed very quickly. This is either by seeming to age quickly or becoming extremely bored and judgemental of others! I know some very sprightly 70+ year olds who still work and I think it keeps them young. My nan worked as a volunteer until she was early 90s and it kept her very fit in mind and body.

Costacoffeeplease · 19/07/2022 23:51

I do more now I’m retired than when I worked. I paint, write and have published two books. I’m currently bottle feeding two tiny kittens - I don’t have time to work.

FabFitFifties · 19/07/2022 23:56

NHS. If my son goes to uni, he'll finish when I'm 64 ish - I'll retire then, if finances allow. My job's not great for a 64 year old though. All the 60 plus nurses I've worked with were knackered. I'll be delighted if DS decides his dream job is one that does not require uni, but that will be his choice.

Whadda · 19/07/2022 23:58

All going well, I should be able to retire at 50. It’s something I’ve been actively working towards and a very large chunk of my salary go Ed to pension and investments.

I work in an industry where consultancy work is easy to come by, so could look at doing 2 days a week if I wanted to keep a routine.

Wazzzzzuuuuuuup · 20/07/2022 00:04

I can take my first smaller pension at 60, and then my NHS pension at 68. I'll probably stay til 63 when dh is 65 and we will retire together. I may go PT until 65. Or volunteer or sit on a board for a couple of years.

Nat6999 · 20/07/2022 00:04

I retired at 45, got ill health retirement from the Civil Service.

Nat6999 · 20/07/2022 00:05

I'm 56 now.

whiteroseredrose · 20/07/2022 00:12

Probably 66 - so 9 more years. DH would be 63.

It depends on a lot of factors though. A huge chunk of DH's salary goes into a pension to fund that. And more still will go in when DC finally finish university. Assuming that the recession doesn't kibosh his job.

It would also depend on whether we inherit any money or if all is used on care home fees (likely).

Thursday37 · 20/07/2022 00:15

I don’t intend to retire, just do less gradually. My Dad only just ceased most of his work at 73, he works for himself and had scaled right back but was still working about 25hrs a week as a consultant on an exec MBA. He had tried to stop before but they needed his skill set so kept giving him more money. He didn’t need the cash, he’s got loads and he’s not even started spending his pensions yet. He’s still not 100% retired as still doing some private career coaching but online now from home. He gets as much per hour as I get per day.

My DD will theoretically graduate when I am 63ish so by then perhaps I’ll be slowing down. I went slightly part time when she was born so depends if I stay that way or go back full time first. I like the idea of working 3 days a week in my 60’s.

A hard retirement from full time to zero is rather outdated and not necessary for a lot of modern occupations. It’s not like retiring from the mines absolutely broken.

LizzieSiddal · 20/07/2022 00:19

I’m 56 and aim to almost retire at 61. We run our own business, which dh absolutely loves, but it’s bloody hard work, (mentally not physically) and although dh is a workaholic he’s agreed to drastically reduce what we do at 61. We have state and private pensions plus other income.

Both my parents died in their early 60s so I’m determined to enjoy at least some retirement!

GreenLunchBox · 20/07/2022 00:37

Wonder if this is the OP they've not come back

ZenNudist · 20/07/2022 00:45

People are aging slower and living longer thanks to improvement in diet, lifestyle and healthcare plus sun screen. Living to 90 to 100 plus is going to become common.

Retirement at 67 in 2035 is a lot like Retirement at 60 was 30 years ago which was common in my childhood.

I'm going to work to between 67 and 70. Definitely going by 70. I'm going to work 3 days pw from 60 and take sabbaticals to do longer trips if the environment can take it once dc are out of uni. So from 56 I'm booking longer breaks from work once a year to get some travelling done if I can. Maybe if I do this I will put off the 3 day week until 65.

Currently I work 4 days pw which I see as taking some Retirement early.

saltinesandcoffeecups · 20/07/2022 01:16

Hopefully some are taking note of this thread. (I am! I’m terrified of the prospect of retiring and not earning anymore) There will be a million reasons not to plan for retirement (trust me I had them, myself) but by the time it starts creeping closer those reasons seem a million miles away.

I love these threads, because you never know when someone is reading them at the right time that it clicks and changes or plans can happen. Seriously, if nobody takes anything else from this thread or topic, please take away that knowledge is literally money and now is the the time to learn. No matter what life stage you are in.

Eeksteek · 20/07/2022 01:19

No idea, atm. I had business with a plan, but it failed unexpectedly. I haven’t finished cleaning up the mess, yet. When the dust settles I’ll make another plan.

The plan was 55, when DD finished uni. I wanted to build myself a eco-house in the country and travel and start a few other ventures I had in mind.

However, covid has fucked the business and it’s now in trouble. So I need to either delay retirement and have a more traditional job/retirement plan or make a success of something else.

I know I was privileged to have it, and I still am privileged to have something other than a 9-5 income, but I’m finding the loss of my retirement dream hard. Much harder than having to knuckle down and find myself a career in my forties, actually.

Diamond7272 · 20/07/2022 02:11

I think my days of work are running out. I have got to middle management in education but, at late 40s, i am beginning to slur my words, shake infront of my students, and basically struggle to function. Teaching is nothing like when i started, nothing is the same, discipline has gone and my contempories have long left. Now all i do is micro manage cheap newly qualified teachers and massage exam results according to the latest initiatives.

Having spoken to my GP, it is clear that my career is in its twilight. There is nothing i can do about it any more.

My pension is v little and kicks in around 2037, so my future will be running an airbnb in my home.

Sometimes things just end. Im at peace with it all.

Adversity · 20/07/2022 03:12

I was medically retired at 50 and receive my pension. I have a further pension that I haven’t touched from another employer. DH is younger than me and will probably retire in 6 years. We will be ok but there is no way we will have the set up exactly as we planned.

DS is staring his degree apprenticeship soon and does not need funding by us.

user1487194234 · 20/07/2022 03:39

Not planning on retiring
Enjoy my job and will work as long as my health holds out

BritWifeInUSA · 20/07/2022 03:54

At 59. Never had children and have worked continuously. My 401(k) (like a private pension) will pay around $5000 a month. When I’m 68 I’ll get my social security too. My husband is already retired at 55. We plan to reverse-mortgage the house as we have no one to leave anything to and we will spend every last nickel on traveling and enjoying ourselves for however long we have left. We bought the house for $249000 and it’s now worth over half a million and almost paid off so the reverse mortgage should pay nicely.

Missisipihallelujah · 20/07/2022 06:54

I retired at 50, im 51 now living on a decent (private) widow's pension. I sold my house and bought a static caravan for me and my two dogs. I love it. If i had kept my mortgage, i would have still had to work in teaching. I was glad to get out of the profession and live a lovely, peaceful life in the country. I will have to take a shortfall in my state pension, although i may pay in a lump sum to receive full amount in 2037.

FindingMeno · 20/07/2022 06:57

I will work as long as I am able.
If I was financially secure I would do voluntary work.
I'm not sure retirement if you can't afford to follow your dreams is such a wonderful thing.

TCMolly · 20/07/2022 07:09

I live abroad and might be able to retire at 63 if I have enough contributions paid in. Hoping so.

Ragwort · 20/07/2022 07:12

I am 64 and work part time, I really enjoy my job and it is mainly stress free, I can more or less choose my hours and it is local. My DH is a couple of years younger than me and he has recently retired.
Financially we have planned things so I can retire at 66 when I get my pension but to be honest I like my work life balance as it is, I already do lots of volunteering and spending time with my elderly DM (89 and very fit and healthy) .. I don't feel any urge to travel or spend time on the golf course etc so will probably carry on until the technology defeats me. I had quite a few years as a SAHM so I don't feel 'exhausted' by my working life.

Stuffin · 20/07/2022 07:18

In three years time at 52.

I don't intend to be like my DM who carried on working because she was afraid she might not have enough money only to then be diagnosed with cancer after retiring and never being able to enjoy those years.

We won't be rich but there are plenty of things to do that don't cost money and having worked full time since 16 I want to retire when in good health.

Missisipihallelujah · 20/07/2022 07:22

Stuffin · 20/07/2022 07:18

In three years time at 52.

I don't intend to be like my DM who carried on working because she was afraid she might not have enough money only to then be diagnosed with cancer after retiring and never being able to enjoy those years.

We won't be rich but there are plenty of things to do that don't cost money and having worked full time since 16 I want to retire when in good health.

Sorry about your mum x trust me, retiring early is great. You've still got the fitness levels to swim, run etc and generally enjoy a more relaxed way of life; no queuing in traffic, rushing to get from A to B. I sometimes get bored, but ive joined dance classes and im going to do a bit of voluntary work.