AIBU to train for a new career at 50?

[BeckhamsBalls]

I can’t decide whether this is madness so perhaps some of you may have been in a similar situation.

Many years ago I embarked on health and social care at college to eventually work in healthcare, I have always wanted to do a role which provides support and make the lives of others better. Life then got in the way and I had to work and I have been a civil servant for 30 years.

My salary is £42k, husbands is £55k. Have some loans/cards/car payments and a mortgage of £85k.

I am eligible to apply for redundancy and should receive around £60k, enough to pay all debt (excluding mortgage).

My job isn’t difficult, but not challenging me at all, I am quite frankly bored and despite trying many times I cannot seem to get to the next level (G7), which would increase my salary to £55k.

Would I be crazy to take it and then go and study at university and become an occupational therapist, a role which I feel would match my skills/interest?

I do have a first class degree (gained 7 years ago) in business. So I am confident I can write/complete assignments to a good level.

I would have to look at current outgoings and maybe make adjustments so my husband isn’t totally taking on all the financial load.

But is this crazy at the age of 50 when I would potentially be studying with 18 years ago olds? Would I be mocked for being much older than others?

Any advice welcomed from any OT’s/OT students or women who have had the same idea at my age?

I know that it will be a while before I would be able to earn close to my old
salary but it’s that old adage, is happiness more important than money!

Thank you so much for taking the time to read/any pearls of wisdom!

Me, I'm one. Due to demand in the workforce, there are some degrees you can do despite already having a degree. One of these is Social Work. You will get SFE + maintenance + NHS bursary and learn skills taking you into a new workforce where you will be appreciated and much needed. Salary quickly increased back to where you are now and beyond. This also fits your background. I should add these roles often have a golden handshake and retainer due to staff shortages

Brunel have a great OT degree.

@BeckhamsBallsthere’s an entire MN board full of women who have done the same or are considering it:

https://www.mumsnet.com/talk/mature_students

Hope you find some useful inspiration, support and guidance.

Thank you all for your replies so helpful, I am interested in social work but would rather work with adults than children and it seems it is rather child focused or am I incorrect and I will check out the link!

Well, as the retirement age gets pushed further and further back (and fair enough, my parents were working full time from 16, I didn’t start properly until I was 22), at 50 you have well over a decade before the official retirement age..even if you stop at that point. I know plenty of people in their seventies and beyond who, whilst not working full time, love their jobs and have no intentions of giving up.

50 is not too old to do anything.

If you can afford the student fees. Then don’t see why not. You’re still another 18 years off retirement might as well do something you enjoy.

Interesting dilemma!

The cost of retraining for 3 years would be high: fees and opportunity cost of 3 years earnings and pension.

But I’d be even more worried about the physical and mental challenges of NHS roles in my 50s and the problems of the NHS. People I know who work in the NHS (not OTs) all have worse working lives and pay than I do in the CS.

I’d be more inclined to stick in CS and seek work / life balance or seek something outside that doesn’t require 3 years of higher education.

Yes I agree I shouldn’t think of 50 as almost over as you say I would be working til 67 anyways!

I am just about finished paying back my first degree. As it’s a certain area I would pay the fees back as usual off my salary when qualified.

i know what you are saying and i keep thinking this to myself, but then i think if I don’t go for it now i probably won’t. I’m worried about regretting staying in the CS. At the moment it’s voluntary redundancy, I hope this doesn’t become compulsory.

the CS has changed so much from when I started in the 90’s!

I think if you could get paid to train that would be better. 60k is a massive payout and sorting debts and mortgage would be my priority. If you balance out financially how much it will take to get back to your same level plus time out to train then it's a move you are making for passion not money, and passion often feels different when finances come into play!

I read online that the payout and terms for compulsory redundancy could be worse than voluntary packages, and £60k (after tax?) does seem good, but I like to think about medium term scenarios as well.

Costs of retraining for 3 years would be ~£60k x 3 (opportunity cost of your current pay and pension), plus the fees. So perhaps £210k.

That’s a high cost. Before pursuing it it’d be best to thoroughly investigate the roles, typical duration and ages of people working in the role, its pros and cons and so on.

Thank you for all the comments, it’s at the moment voluntary redundancy so I would qualify for 19 months pay. (21 is top). I would pay off debt/chunk of mortgage, my husband earns £55k so we would be ok (no kids).

it’s occupational therapy (I wouldn’t do nursing etc) and from what I know, it’s a good job, good prospects and seems that most are happy working in this area.

Agree about pension pot etc, I could never have ever done this without this redundancy, I would have had to keep going, and give up on what I always wanted to do, seems like I’m between a rock and hard place…then think I’m presuming I will be here until retirement age but I have no idea if I will be! X

Do it for sure. Having no kids and a fairly small mortgage is next level freedom.

Do it. I retrained at 45 with a masters and switched careers at 50. I earn a lot less, but I’d do it again

I retrained as an OT in my 40’s. Oldest on my course was 55. I was the last year of nhs bursary and wouldn’t have done it if I had to pay the full fees.

I love my job, and have purposely chosen an area of low stress, manageable caseload and a fab team. I spent two years in a very stressful job and there is no way I would have done that until retirement.

OT apprenticeships are very popular at the moment and I think a great option. Keep an eye out on NHS jobs to see what is about on your area.

I would just say that there is a lack of band 5 healthcare professional jobs at the moment - you can see it in nursing etc. and it seems to be coming the way of allied health professionals too. Just something to bear in mind as it is no longer a guarantee that you will get a job at the end of the course.

I did a social work degree starting aged 28. The eldest on the course was 53 when he started and I understood from him that his age wasn’t a problem in fact his life experience was a bonus

Have you considered applying for the Fast Stream or Tax Specialist Programme as a route to G7 @BeckhamsBalls? Both schemes have people of all ages and I know the TSP honours an SO grade salary for the time you are training. Depends whether you want a complete change away from the CS though.

I'm your age and am retraining in the civil sevice from education so definitely do-able. If I was you main main worry would be losing my pension and flexibility if I chose to leave.

You did a degree only 7 years ago. Why did you not do occupational therapy at the time? Would you have wanted to do it then, but there were barriers, did you do it because work contributed and there was career progression? If it was because you change your mind frequently, then it might not be the best idea. Not trying to put you off, it just seems like a small time frame to do two very different degrees.

I did the degree as part of my job, I couldn’t have done what I wanted to do as at that point I was in my previous marriage and kids at school and financially there was no way I could have given up my career to retrain.

I was at college doing health and social care at 16, then life took a turn. I needed to support myself and I took a youth training scheme and ended up in administration. The degree was in management (I work in a management role) and obviously to do so meant I needed to be in a certain role.

The good thing about my management degree is that it is across the board, I.e it is relevant no matter the industry.

I am not doing this on a whim at all but I’m sure many people are in roles in which aren’t what they wanted to do but you need to, to support family etc.