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?

Find a fun job that's completely different. A retirement job. If you like gardening, work in a garden centre, if you like dogs, be a dog walker, if you like coffee, work in a little cafe. That sort of thing. Part time shift work- shake it up a bit!

@FireflyJar - would you employer not consider a 6 month sabbatical? You get to recharge and come back refreshed knowing you only have a few years to go, then can concentrate on your savings/being mortgage free.

The 6 months can be a trial retirement and you may learn a lot about how you want to spend your actual retirement..

Change jobs at least! It's no good hating your job. I love mine.

Could you go part time in your current job?

Have you got a private pension and are you old enough to collect it?

15k wouldn’t last me 6 months never mind 6 years. But then I do rent and have autistic children who need a million thing’s replacing each month on top of regular kids stuff. I know someone on their pension who gets this amount per annum (mortgage free) but again as thrifty as they are there’s no chance it would get through years of payments.

Either change jobs or cut down, it’s simply not feasible.

Switch jobs but don't quit work.

I feel the same. I have 4 years to go until I can take my pension at 55 and with my husband’s encouragement, I’ve decided ‘fuck it’ and I’m going to resign mid august (I’m being tactical so I can get my bonus).

3 of my colleagues (2 former one current) have had strokes this year at the ages of 43, 54 and 55. I hate my job and the stress it gives me; I don’t want to be joining their club. I’ve only got one more year of supporting the youngest child through uni (don’t do a masters, don’t do a masters), so I can do this!

It won’t even cover utility bills for six years

I don't know what you do that you hate so much, what transferable skills you have or what else you could do, but... honestly, yes, it could be very bad for you. There's a lot of crap going around (mostly from the government) about job opportunities for older people. Unless you can easily find another job (and if that were true, why haven't you already done so?) and have in demand skills, why would an employer want an older worker, worn out somewhat and who costs more???? (I say that as an older worker too). Then there's the whole, why did you quit a perfectly good job when you haven't got one to go to - that's red flags all around... it screams that you might have been sacked, resigned in disgrace or whatever. It is seldom read as "this person decided to take six months off". Of course, you could tell them the truth about hating your job and just deciding to quit. Assuming they believe it, that labels you as unreliable and likley to walk out on them too.

I'm sorry, I really get how you feel, but plase don't do anything precipitous. You don't have enough money to live on, you don't have a savings pot big enough to even get you through retirement, never mind the next six years, you have liabilities that you must pay for, and adding to the burden of your husband by deciding it should all fall to him could ruin your marriage.

Take some time off sick - you are obviously stressed. Think through your options, speak to your husband, look at the alternative employments available and work the numbers. But a state pension and a small private pension in six years time, with all of your savings long blown on basic living for a short time now, that simply isn't a rational strategy. It might feel good to be free for a month or two, but reality will almost certainly kick in, and you may not get the chance to rewind.

I'm 36 and feel the same!

You need a different job. Something that brings you joy and adds to your life. You can take a hit on income if you have no mortgage so do it, find the joy!

Have you considered going part time? How flexible is your work place -is it an option?

And/ or could you take a 6 month sabbatical?

It doesn’t need to be this job full-time or nothing. There are in between options.

😂

How do you know OP has been in the same industry for 45 years? How do you know what it is? And whether it is easy to get a "part time online job"?

15 grand is no where near enough. If your boiler breaks, roof needs repairs or anything remotely unforeseen you could be in real trouble.

This is really good advice.

I do think it's a shame that the COL is so high these days. And all the "nice little PT jobs" for people (mostly women) in the run up to retirement disappeared years ago during the recessions. Combine that with a higher retirement age and it means by the time we get to late 50s, knackered and burnt out, we still have another 10 years to go and there's not a huge amount of choice out there unless you want to work minimum wage in hospitality.

But you need a plan. It's pie in the sky living off 15k for more than 18 months.

I would not advise a gap, as there is no guarantee that you would get a job after the gap, is there, and you would spend much of the gap worrying about it, and job hunting.

Better to get a part time job with lots of down time, for a while, and don't leave your current job until you have secured your next job

How old is OP if they have worked for 45 years? They said they have a small private pension,that could be taken as a drawdown while waiting for State Pension age.

So you hate your job and feel burnt out, but this morning you feel like quitting.

I was in your position a few years ago, but had 10 years to my occupational pension and even longer to my state pension. I spent 5 years working through my exit plan, part of which was paying off the mortgage, securing a couple of promotions (higher occupational pension and could save more) and saved like crazy. I had worked out as to how much money was needed live on once I got my pensions and how much was needed to get through until I could get my occupational pension without deduction and how much money was needed before I received my state pension including checking to see how much state pension I would get/cost of voluntary contributions due to having been contracted out for a number of years.

You don’t say how old you are, but if you have worked for 45 years and started work at 16, you must be at least 61. It is hard enough to find another job in your 50s and as you will not be able to afford to live off your savings for much more than 12-18 months and that is likely to be generous. You really do need to think things through before you jump. What flexibility do you have with your current employer? Can you go part time? Career break? If you are genuinely burnt out, sickness absence may be appropriate to give you breathing space and heal. Or of course find another job and then give notice.

You may feel burnt out now, but don’t underestimate how bad things can be if you are facing living in poverty. Stopping work as we move into autumn isn’t always the best time to leave, leaving in spring is often a better time. How would you plan to spend winter being economically inactive?

My advice would be to work through how much money you will need for the rest of your life and then see what you are able to do to make that a reality. Plan before you jump.

Don't let your exhaustion push you into making a decision that will cause more stress than it solves.
Sit down and plan out your options. I am in my 50s and I have done this. I know what I need to earn in the next few years to put myself in an financial position where I can step back from my current role. I even know what I want to do when I move away from my current higher stress role. It makes a huge psychological difference when you do this because then you are working to achieve the future you want. I literally say to myself every month - I am a month closer to clearing the mortgage, hitting my savings goal etc. (Yes I have a spreadsheet and a written plan called "Escape Plan")

So what do you want (other than to run into your manager's office with your underwear on your head screaming I can't bear another minute of this 😂)?

If you need a break from work - do they have sabbaticals or do you need to be signed off for a few weeks?
Do you have any niggling health problems that are making things a bit more difficult that you have been meaning to sort out?
Work out exactly how much a month you need to be able to contribute a fair share to the bills - How long would your £15K last you?
How different would that number be if the mortgage was paid off?

So to start off with the basics - if you assume that you would spend £1000pm (so you do have some spends) you can leave work 15 months before your pension so that is 4 years and 10 months left not 6 years.

If you can stick out 12 months until the end of your mortgage how much more could you save? and how much would your costs reduce?
For example
Time to pension would be 5 years
Savings now £16000 (saved £84 pm for 12 months)
Monthly requirements post mortgage now £800
You can afford cover 20 months of the remaining 5 years
Or
If you need £800pm then that's £9600 pa you need to earn.

Play with the numbers and work out your best options. What's clear is that you won't have to work another 6 years but you need to work out what balance is best for you.

Yes do it!! tomorrow is never promised and if your gut and heart is saying to end this 45 years of hard labour then stop.
sell the house even, get a motohome and go travelling and enjoy your life whilst you still can xx

My friend thought the same way you do and she died in a car crash at 51.

See your GP, get some sick leave.

Speak to partner seriously about this.

Do you sell the house.
Get a part time job.

45 years is a long time with no employment gaps. We downsized when I was 60. A nice amount of money in the bank, no mortgage, I gave up work and look after the grandchildren sometimes.

I would probably get a part time job, one that when you go home you forget about

I am older than my DM was when she died slowly and painfully of cancer so I don't need your anecdote to tell me life can be short. However, I also have children that I am the main provider for and whilst I can't predict when I will die at least I will have the small crumb of comfort knowing that I did my best to set them up in life.

I took a short break from work (been working 37 years, although some was casual/summer work), and no problem all. Most recruiters haven't even asked.