To ask if anyone else over 50 isn't desperate to retire

[LornaDuh]

I'm 61 now so have taken a look at the retirement board on here and various threads about pensions.

People stating that life is too short. They want to retire to spend time on their hobbies, and to travel and volunteer.

Anyone else not keen on the thought of retiring? I like my job, my colleagues, the structure work brings. Work makes me appreciate weekends, holidays. If I had endless leisure time I'd probably waste it on Mumsnet and napping rather than crafting and hiking in the Alps.

My job is my career and I'm in no rush to give that up when I've worked all my life for it. I'm a partner in my business and we have to compulsorily retire from partnership at 65; but I hope to stay on in some capacity (or else take NED board positions and have a portfolio career in my "retirement").
It's what gets me out of bed in the morning and while I'm looking forward to dropping a gear and having more free time, I won't give up work altogether (ever, possibly.)

Yes, I agree. I still do running at my age, love creative writing, reading, cooking and studying. And I manage to do this and work as well. I think I need the daily structure that work gives me and everything else falls into place.

I'm 65 and still working part time. I think it helps if you love the job. I'm not sure how much longer I will carry on though. I'm getting the state pension soon so I'm going to see if I carry on enjoying it. My partner is younger so won't be retiring yet.

I’m 58 and cut back to 4 days a week in January. It’s made my working life so much more manageable (I have arthritis and other chronic health issues) and I feel like I could easily go on until at least 63, when my mortgage will be paid off.

I have a side hustle I could ramp up for additional income, and would definitely never be bored. However, I do enjoy my job, and find it very easy. I’m probably a massive underachiever to be honest!

Friends who have retired early have had varying outcomes. One hated his job and had so many plans for his early (55) retirement, but died of a heart attack within a year. One has taken up a low demand part time job he loves and spends the rest of his time playing golf and is ridiculously happy. Another two have become chronically alcoholic which is incredibly sad to witness.

My employer gives retirement classes which I think are a great idea.

My DH sold up his share of a practice when he was 60 . Became a locum and hated it.
Happily retired at 61.
He is happy, fitter full of life. gives his time to various organisations. He throws himself into things just like the chap I met at Uni.
I have a photo of him at 57 and one last week.

He looks about 10 years younger now.
I still work part-time and look like an old hag.

I had thought he might do some DIY around the house but he is too busy.

Both our fathers died early 50s. My Mum never made retirement age.

Funny several of ou friends were aghast that he should retire. Until 3 chaps gave up during Covid. All seem happier more involved with life.

Do what makes you happy. You quickly realise that you are replaceable in any job.

Loads of organisations would appreciate your skills in the community.

The two aren't necessarily connected. It's a matter personal luck how we age. There'll many women working in early years provision and as cleaners who are as sharp as your MIL and then as many people who have had poor physical or brain health, for no obvious reason.

I'm nearly 57, I'm my DD's full-time childcare and have other caring responsibilities. I'm constantly busy. When I'm no longer needed for childcare (in around three years) I'd like to work part-time, around 25-30 hours a week. I don't have a generous private pension, which is a factor in me not choosing voluntary work. I've had bouts of being a SAHM and not working. I do better when I've got plans. Holidays shouldn't be an issue because I'd be happy to work the times parents want off. My Mum retired at 65 and then became a school crossing attendant (lollypop woman), until 81, she said that she liked the structure it gave her day.

I'm 59 and have been "winding down" for a few years now and intend to continue winding down, but continuing to work, even if just a couple of hours per day or a day or two per week. I'm a self employed accountant and numbers of clients are steadily dwindling (with quite a big drop during covid because of Sunak's support exclusions which meant many clients closed down and never started again!), so that is fitting in with reducing working hours over time.

Ten years ago, I was at full capacity, working a few hours at weekends and at least 8 hours per day. Over the years I "tweaked" my clients to have more stuff automated, more work less time sensitive, was using automation and live bank feeds etc from as soon as they became commonplace. Book-keeping is no longer laboriously writing/typing transactions into the books/software - it's now just supervising the automation. Invoices are scanned and details extracted by OCR. VAT returns, accounts, etc are basically just a quick look over and press the submit button.

Yes, all that's taken a lot of time and effort to get clients on board, get them to accept internet banking (harder a decade ago), get them to forward emails instead of printing them and posting them, etc! But, now "work" is a dream. I can pop in and out of my office when I want and for as long as I want. Rather than spending all my time number crunching, I let the computer do all that in the background and I can spend my time talking to clients, helping their businesses, tax planning, etc none of which is time sensitive nor urgent.

I've basically been planning a long term wind down ever since I was 50. Never had any intention of keeping it running at full capacity and selling up. Never had any intention of intentionally closing it down on some kind of "fixed date" retirement.

I can foresee the number of clients continuing to decline as they naturally retire or sell up etc. Some "needy" clients who wouldn't embrace technology and new ways of working have been encouraged to find other accountants! I don't advertise nor market for new clients. Occasionally an existing client will refer me to a relative or colleague, so sometimes I'll take them on, sometimes not, all with an eye on my long time semi-retirement wind down. It's just so much easier and less stressful to continue dealing with existing clients that I've known for years than starting new working relationships with new clients.

I've pencilled in for giving up my office by the time I'm 67, and working exclusively from home, so will save a small fortune in office overheads at the same time as starting to take state pension! Looking at my current client base and client ages, I've forecast still having around 20-30 clients when I'm 67, which on average would take up maybe 5-10 hours of time per week and give me an income of similar to the state pension, so will fund my lifestyle along with SP. After that, who knows. It will depend on my state of health. I'd aim to carry on for another 5-10 years or so, and by that time, my remaining clients would be around retirement age, so would probably continue to dwindle. I can't see me still "working" when I'm pushing 80, but it wouldn't surprise me (assuming I'm still mentally and physically fit) to have a handful of simple tax return clients who've likewise retired or working part time in retirement. There was an old bloke in our village still doing a few tax returns when he was in his 90's!

But basically, working part time, and the work being very flexible, means I can do what I want, when I want, outside work. That frees me up to do voluntary work and my hobbies.

I’m (just this year) in receipt of my State Pension and draw monthly from my private pension. I still do a few days consultancy here and there. I don’t actively seek this work really but people ask me and I oblige. I like the extra money as it can fund holidays. I’m so glad I paid consistently into my own pension and would encourage anyone younger to make sure they are not relying solely on their state pension.

I think 50 is very young to retire but I don't know anyone who retired/plans to retire much older than 60.
If you need to work for financial reasons that's different, and I understand not everyone has a decent pension to take early.
Those things aside if work alone is what fulfills a person that is really concerning. Having a pride in your work and your accomplishments, enjoying spending time with colleagues are not bad things but they should not be the most important thing in your life.

I work part time/ casually at 66. Dh still working but will go to 2 days a week next year.
I love my job and have a busy life travelling.

🙄

I work in schools and even though I'm in my 50s I would love to retire. However, I would like to carry on doing supply on days that I am in control of. It's the rigorous routine and early mornings that I don't like, not the actual working. Also, I have a creative pursuit I would like to realise and I don't have the mental space to focus on it while stuck in the routine of working life. I also don't have enough time to see family who don't live near me.

I get it. I really didn’t want to be chained to a desk 9-5 5 days a week any more. Retired 18 months before Covid hit and hybrid/homeworking was not the norm in my organisation. Going part time wasn’t an option either. HR paid lip service but managerial culture was against it unless you had young children.

I’m sorry for your loss. 💐 I can quite see how work would have been a lifeline and kept you going in those circumstances. I did worry myself about DH dropping dead after I retired and not having work to fall back on but fortunately that didn’t happen and taking that risk worked out for me.

No, I still think I'd be bored, unless I'd won the lottery or something in which case I'd just go on endless holidays or pursue expensive hobbies and academic pursuits with no pressure. Not saying I'd still want to do the job I'm doing now but I'd have to do something. The pay will also come in handy I expect.

I'm 56. I don't intend to retire for s long time yet. I love my job too much.

Yes same. The ones I know all seem healthier & more relaxed. There are a million things to do other than work, so I don’t know how anyone could be bored. You need the money for travel & a lot of hobbies though, so I wouldn’t want to retire on a meagre pension.

I am 52 and am struggling to work full time, and parent a teenager (no support)

I would be happy with 4 days a week but can not afford to drop a day, can't see myself retiring and do not want to (at the moment)

I'm 55, love my job, and retirement holds no appeal whatsoever for me. If I had access to limitless funds, I might enjoy constant travelling I guess, but there's no way I'll have even close to the money needed to spend 30 years jetting from one lovely hotel to another. The non travel related options of groups, classes, hobbies wouldn't be enough to fill my days, and I think I'd just spend the bits in between pottering and filling time. I also love that my job gives me social contact and friendship with people of all ages and backgrounds, which realistically would be lost when we were no longer in a shared workplace. However, I've 12 years before it's an option and no idea if my health will hold or I'll feel differently then.

I'm a scientist and work in the pharmaceutical industry. There's not a lot that can compare with working on developing a drug that will make a massive difference to the quality of other people's lives. It's intellectually stimulating, varied, worthwhile, involves working in large teams with lots of interesting people, pays well and I have a good work life balance. I'm know I'm lucky.

I also grew up on a farm and so saw both my father and grandfather slowly reduce what they were doing as they got older but still being involved in the business and think it's a much healthier model than working crazily hard for years then just stopping.

I always find it funny when people talk about wanting to retire and plan to volunteer instead. I've done several volunteer roles over the years and IME they can be just as boring and annoying as work except that you're not paid for it! I do get that they often offer more flexibility.

Agree. It’s such a ridiculous thing to say 🙄

People will also feel differently if their jobs are too stressful, a particular condition these days. For some, the hard physical work wears people out or damages joints. As well as the things others have mentioned. It's a very complex picture.

I'm 54, I love my job , in fact have three roles across 6 days a week.
I also do lots of holidays, play tennis, run, have social life and several other hobbies...life is full and full of joy mostly.
I cannot imagine retiring until at least 65, even though I could afford it...but my jobs are not stressful and I have a lot of flexibility

It depends on what and where you volunteer for. Some places are more relaxed than others about obligations.

I was a special constable for many years. The hours I worked and the type of work I did "flexed" enormously according to what else was going on in my life. That was fine with them at the time. We were given a list of duties up to two months ahead and we just chose which ones we wanted to do. We were also free to just turn up randomly at the station, alone or in pairs, and we'd present ourselves to the station sergeant who'd allocate us a beat to work alone or in our pair, or allocate us to go out on patrol with a regular. All absolutely fine. Some years, I did hundreds of hours of duty, others I did the bare minimum, which was "officially" ten hours per month, but in reality could be a lot less and some months I didn't go near the station - but made up for it later. The only condition was that we had to turn up for any duty we'd put ourselves down for - "no shows" were reprimanded, although in reality, it was just a telling off as there was nothing they could to punish you, short of taking away your warrant card and uniform.

All that changed when we got a new supervisor (regular training sergeant was the usual "supervisor" given responsibility for the specials). He was a right dick! Clearly wanting to make his presence felt. Started allocating duties, with no consideration to peoples' circumstances, which is crazy when most people had jobs, families and other commitments. He also went crazy imposing the 10 hour per month rule. Needless to say, there were many resignations, including myself!

I now volunteer in our voluntary-led village library (in fact I was the founder of the campaign to reopen it after it was closed). I do the occasional stint on the counter, but it's mostly back office admin/management that I do now. We have a good group of volunteers, who basically arrange the rota between themselves to ensure "someone" is there to open up, lock up, and man the counter. There's a blank rota pinned to the wall where people put down their choices as to which shifts to attend. Of course, sometimes shifts are blank and then myself or one of the other "unofficial committee" members has to step in to cover. But we never put pressure on anyone and we find that some volunteers just "drift away" and don't appear for several weeks or months, but when we notice that, one of us will do an informal "welfare check" just to check they're OK (Most are elderly), and we put no pressure on them to come back, we just say they'll be welcome back if and when they feel ready (whether physically or mentally or whatever).

I think people need to find what voluntary work is best for them. Some will have to be more formal due to the nature of the work, i.e. where H&S or training needs are essential, or where the service is relied on. Some volunteers prefer the more rigid approach more akin to a proper job, others want an informal option, more akin to a social life rather than work, where not turning up doesn't really affect anyone else.