To give up working at 52?

[caniquitwork]

I am a teacher, but I've had enough.
I have a small teacher's pension- small because only paid in 15 years and even then mostly only part time. Have some other private pensions which will eventually pay out about £1000 a month, but not till I'm 60. Would not touch teacher's pension until then either.
So here's the aibu part - I have a house I own outright so no mortgage, but to live on until 60 I have about £250000 I inherited. Would obviously invest but don't think interest would be enough to live on, so would also just withdraw from the pot iyswim.
Would that work? Would it be selfish- should I keep this money safe for my children?
No dh in the picture. Keep
going round in circles. Wouldn't mind working in another job to supplement but worried if I could even find anything.

Go for it! Many people would if they could

I would if I could!

How far away is 60? Depends if you’re 30 or 55.

Not selfish though. You only live once, and for a very very short time.

I would.

I did

I'm 52

Oh definitely do it!

250k invested would give you £10k per year to live on without touching the capital. (4% safe withdrawal rate). So could you live on that, and do just enough work to give you an extra £4-8k a year to make you comfortable?

The trouble with drawing down capital is there is then less capital to earn interest, so it's a vicious cycle.

If you can afford it, bloody well do it! You can always go back.

I must admit, I thought you were going to say That you don't have children. How old are they? And how much of the capital do you think you'd need in eight years?

Normally, I'd say yes in a heartbeat, but I'm not a big spender and I don't have children.

Thread title says 52.

I’d go for it if you think you can afford it. If you’re a teacher, could you supplement your income with tutoring / marking at all or are you completely done with education?

I wouldn't mind tutoring but my subject isn't one that high in demand.

For the same reason I couldn't go back either - if I quit my job that will most likely be it

If you still like working in schools you could swapt to a different role. TA, administration, reporgraphics, first aid in high school or a technician in a high school. They don't pay wonderfully but you have school experience and I know a few teachers who have done this. You walk out the door and leave the job behind.

How old are your children?

How is it working out?

24, 22 and 19.

I don't think its enough personally but it depends on your lifestyle.

Your £250k will obviously be earning interest but that will be on a decreasing amount. It's basically a £25k pa salary for 10 years. Then at 60 you'll drop to a 12k pa salary plus whatever your teachers pension is until youre 68 (although they're contemplating changing this to 71) and then it will go up again when you get state pension.

Can you live on £25k pa from now until age 60?

Read the OP.

Oh I totally would! There’s loads you could do: teaching English online (purple ruler), tutoring SEND/LAC/out of education children, bits and bobs of supply. And you can apply for jobs at universities …well anything really alongside that.

Think of all the stress you won’t have to deal with. You’ll probably live to 100!

Maybe a pt job with little in the way of responsibilities? Just so the money pot doesn’t diminish too drastically. YANBU to want to jack in teaching, I mostly bloody hate going in to work these days ( nursing) it’s shit. The occasionally grateful patient really no longer makes up for the lack of drink, food, time to eat said food and the constant being on the back foot as I’ve no time to read patients notes. I’ve not got long to go but everyone here is looking for a way out. Go. Enjoy your life again!

What do you mean by purple ruler?

I would, and I'd look out for bits and pieces of work that might be enjoyable and where you can walk away if not.

I would give up work if I could and I'm only 43!
Would you consider a low stress part time job to give you some extra income?

www.purpleruler.com