45 years relentless work

[FireflyJar]

I've worked for the last 45 years all through 3 children - never stopping once. Woke up today and just thought, I've had enough. I have 1 year of small mortgage left, I hate my job and want to leave and never work again. AIBU to resign and live off my savings of £15k for a few years till my mortgage kicks in?
Can I survive on this wage? I jußt can't do another 5 years - I'm burnt out.
How much do I even need to live on? Am I mad to even think it?

You can't make £15k last 6 years. If you are that burnt out I would get signed off work with stress, that will give you some breathing space to look at this properly.

I think this could be doable .Maybe a lodger ? I have a couple of friends like this .If you are careful you would be able to live a fairly basic life .Maybe a supplement of a casual job.Sometimes you just cant keep going!

Short-term: call in sick. Its not dishonest: You're stressed out and that's mental health and you can take care of yourself. Take a week to do fuck all. Then decide what you want to do.

Like others have said quitting is the nuclear option. How about going to half time? Contract basis? Most employers would consider that and it could be the break you need.

Do it OP. Living on a budget is much less stressful than a job you don't like.

It doesn't have to be all or nothing. You could look at taking a few months off then sign up to do some temping jobs as and when to top up your savings until retirement.

You clearly can’t live on 15k for six years. One year maybe, if you are frugal.

Can’t you go part-time whilst you look for another job? If you work three days you have more days off work than at work.

It’s easier to get a job once you have a job. Especially at your age. If you are prepared to live on less, why not get a fairly stress free job that you can leave behind once you leave work. Some basic factory or retail jobs can be fairly stress free if you have a decent manager. Amazon are always hiring and you might get a joining bonus.

If it’s only 5/6 years you’re better off sticking it out. Can you reduce your hours or move to flexible working? A friend of mine is 3 years to retirement - she does compressed hours and is remote for most of it - it gives her a 3 day weekend and cancels the commute which has really helped.

Look at your pension - Income drawdown may work for you (it's the new thing instead of an annuity)

get a quote on how much less your pension will be if you take it early
say it's 5 years early you have 15k ( which you should keep as an emergency fund) if your pension after 45 years was going to be 12K a year taking it early might be about 10K per year, will you get a lump sum ( often this is the equivalent of 2-3 years pension so 20-30K) can you find a small part time job that will met the shortfall of given this example about 3 k a year extra,
first thing you need to do is get accurate pension forecast ( both lump sum and annual benefit) for what you will get if you take it now, and what you will get if wait until your normal pension age which given you started 45 years ago maybe 60 in some schemes, what pension would be if you waited until normal pension age for that pension and an inbetween option
then work out what you need to live on barebones a frugal lifestyle is better than being burnt out and bed ridden
what avout another job just till mortgage paid off. or would lump sum pay mortgage off
you need figures but if that stressed just take a couple of weeks off your doctor will sign you off no problem while you think about what next

Yes, do it - but plan to do SOME work, just a much less pressured sort, probably part time. You can give yourself a few months to relax and look around first. £15k won't last you more than a year.

Leave but go part time in a lower stress job until your pension kicks in. Otherwise that £15k won’t last

This, if you have a private pension and are not just relying on the state pension. I think I must be same age as you and have been retired nearly 2 years.

Have you heard of Pensionwise? You can get a free one hour telephone consultation. They can't advise you but they can make you aware of all the options available to you.

£15k is not goi g to get you very far, even without a mortgage. What will you do with your time with zero money to have a coffee, take the bus, run a car etc?
you are not only losing your savings, you are losing out on six years of pension contributions.
if you are really burnt out - ask to be signed off sick.
don’t just resign, it may be hard to find another job

Isn't that just a little over £200 a month? How could you possibly survive on that? Would a different job be a better option? How much do you actually need to have coming in to have a reasonable life? Can you work that out and take it from there?

You need to spreadsheet all your expenses and work out a budget before you make any big decision. £15k isn't much at all, I think you would need at least a part time job to cover everything.

There are low stress jobs out there OP, I have one and it's the best thing I've ever done. Felt similar to you but I'm younger so stopping work wasnt an option. If you were going to live off your savings why not try looking for one? I now work for my local council doing something i had never considered before, they are hot on mental wellbeing and it's a lovely supportive environment. Have a look about. There will be something out there for you.

No, sorry but it really isn't. Only someone who has never had to live on an unmanageable budget could say that! The OP:

• has six years to go until they get a pension (not clear if that is the statutory pension or a company one),
• only £15k in savings which will go absolutely nowhere near stretching to 6 years,
• they won't get benefits if they quit (and benefits isn't enough to live on),
• they haven't finished paying their mortgage off and even if they do, houses are money pits - what about repairs, maintenance etc given that they are using their savings to survive???

Poverty is extremely stressful, and there is strong medical evidence that it takes years off your life and leads to worse health outcomes.

The OP's best strategy would be to take some time off work - if they explain how they feel to the GP they ought to get a sick note for a few weeks (and if they can't afford to do that they certainly can't afford to quit!) and recharge the batteries. Use the time to start looking at other jobs, if that is an option - even low pay is better than no pay. Equally, in the worst case scenario, 6 years is better than 16 years - are there strategies that you could adopt that would make getting through those few years left more palatable? Some new hobby? A weekly treat that you couldn't afford if you didn't work?

One final suggestion. If you have a company pension, some might offer flexible retirement (mine does) so that you can retire part-time, draw down some pension, but continue to work part-time in your job. For us, the only conditions are that there is a minimum age, and you cannot do it in such a way as to have more income than you would earn if you continued to work full time. But many pension schemes won't offer that flexibility, so you'd have to ask about yours if you have one.

I wouldn't have thought that £15k would last very long.
Can you find something less taxing, or part-time, which would help ease you towards retirement?
I have had no Mat Leaves, etc., since graduating. I have had 5 months off sick in the last 10 years, due to a couple of surgeries, and that in itself has worried me. But, if I could afford it, would I take a year off - definitely. It's a career break.

I feel your pain. I've got 20 years to go until my pension is paid. Well, unless they change the goalposts again....

I get where you’re coming from but I think you’d regret stopping without a plan.

Does your work offer sabbatical/unpaid leave? So you can get a break but with the security of a job to go back to? You may find a few months off is enough to recharge.

Can you reduce your hours? Can you do your job self employed/freelance?

What about the suggestions upthread of a smaller less stressful job, you don’t earn much but better than nothing, plus you are still making NI contributions. Retail or hospitality maybe, they are crying out for staff. “A change is as good as a rest”.

@FireflyJar

HNRWT- someone else also said this. First things first, either call in sick or take a 2 week holiday where you do nothing and just be with nature.

After 2 weeks, see how you feel. If you are burnt out, it helps to take a lower paid job in a stress free environment.

There's nothing more stressful than living in poverty and being unable to get benefits or find work. Go part time and find a more enjoyable job. Personally I would consider what you hate the most about your current job and plan a new who that overcome those things. Would you enjoy working alone? Outside? From home? With animals? Etc..

And where are your 3 kids? Can they help burnt-out mum?

A few years ago DH took a years unpaid sabbatical (I had already stopped working several years previously). We discovered that not only was our quality of life vastly improved, but that we needed much less money than we had guessed. Jobs cost money. He never went back at the end of the year. 11 years later and we are still free. I have a small sideline selling second hand stuff online, he used to do a days work here and there helping a friend out. Small mortgage was already paid off.

If you can manage a sabbatical it would give you a breather and let you try it out in a risk-free way.

Your 15k over 6 years is £200ish a month. No it won't work.

Your savings won’t cover basic bills, let alone food…. Agree with PPs about doing something different for a small income for a few years.