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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Not too early for retirement or aibu?

209 replies

Orangeriessmellparadise · 10/10/2023 02:09

Anyone has retired at age 48?
Frugal lifestyle and financially OK. Deciding to retire this year and hope with no regrets, actually cant wait! but friends think I'm too young for this even if I'm able to do it.

What do you do if you are in a similar position? How do you spend your days?
How do you come across people that see you as too young for not being in the workforce? Also health is not the best at the moment and my child is already a young adult so less and less responsibilities in general.
Is it too early or shall I go for it?

Sorry if it sounds like a bit silly question but is a genuine curiosity for your opinions. Thanks!

OP posts:
Notamum12345577 · 15/10/2023 22:33

Testina · 15/10/2023 08:46

@Notamum12345577 🤣 that was like pulling teeth! You finally in your last word mentioned “railway”. So lucky you, RPS has a Protected Pension Age protected when the law changed - protected by the law, not your employer. It’s one of the exceptions several of us referred to. The questions all arose because you implied this was your private pension not an occupational pension, and suggested that it might apply to OP’s private pension.

“At the OPs age she might be able to take her private pension at 50. I’m 40 and I can, I got in in time just before it went up to 55 🙂”

I didn’t realise my scheme would be different 😁
I just knew I was lucky to still have a final salary scheme

Singlespies · 16/10/2023 07:13

Work forces you to work out ways of getting on with people. Once retired you can just give up on the volunteering or hobby if you don't get along. That could be why.

Or, work, being more demanding, doesn't give you time to dwell.

Or, just age.

Reading your comment made me realise why I like work. I have always had more support when paid than when volunteering!

GnomeDePlume · 16/10/2023 11:54

I think with my DB it was that he stopped bothering to filter his comments. In work he would have to mind what he said (or have some tricky HR conversations).

The sad thing is that people who lose the ability to filter don't just drop hobbies etc, they also find themselves dropped.

LumiB · 16/10/2023 12:13

Notamum12345577 · 15/10/2023 22:33

I didn’t realise my scheme would be different 😁
I just knew I was lucky to still have a final salary scheme

Show quote history

I'm in a DB scheme, looking forward to what I'll be getting when I retire, just need another 10 yrs to get a good amount! It's been worth sacrificing higher pay now for a better retirement pot. I think on mine you can retire at 60 with no penalty to the amount. So I'll be officially retiring at 60 but once my mortgage is done I'll be going part time for sure and taking note of some of the good advice on here whilst I am still working either save up enough or get all the expensive work done on my house

Notamum12345577 · 16/10/2023 14:56

LumiB · 16/10/2023 12:13

I'm in a DB scheme, looking forward to what I'll be getting when I retire, just need another 10 yrs to get a good amount! It's been worth sacrificing higher pay now for a better retirement pot. I think on mine you can retire at 60 with no penalty to the amount. So I'll be officially retiring at 60 but once my mortgage is done I'll be going part time for sure and taking note of some of the good advice on here whilst I am still working either save up enough or get all the expensive work done on my house

Show quote history

Be wary about going part time before taking your pension, as if your ‘final salary’ goes down due to your work hours it can affect what you get. I’m sure you will take financial advice before doing it though to make sure you don’t lose out👍

MustbeFeverTree · 17/10/2023 17:05

It's interesting how posters project their own ideals on these threads

Well, OP did ask for opinions...

JaninaDuszejko · 17/10/2023 17:39

Notamum12345577 · 16/10/2023 14:56

Be wary about going part time before taking your pension, as if your ‘final salary’ goes down due to your work hours it can affect what you get. I’m sure you will take financial advice before doing it though to make sure you don’t lose out👍

Show quote history

Generally 'final salary' is actually 'highest salary in the last 10 years'. So going PT 9 years before you intend to retire is perfectly feasible and won't have an impact.

Sisterpita · 17/10/2023 19:18

Final salary uses FTE so going part time doesn’t matter.

However, if it is career average, CARE, then it does because it is based on actual earnings.

LumiB · 18/10/2023 06:38

Thanks, I meant ill quit that job so my final salary will be based on my fulltime pay. I'll likely go contracting or part time job in a different company

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