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Original poster

Would you still work if...

97 replies

WineAndFireside · 26/09/2023 09:31

Would you still work in the following circumstances? Late forties, single parent of two (teen and tween) at home, passive income of 2700 a month after tax, home owned outright, 500,000 in investments in addition to the home. Two chronic but not life-threatening health conditions.

OP posts:
Original poster
WineAndFireside · 26/09/2023 16:48

I used to be a creative person - painting, crochet, knitting. I loved running. I used to learn Spanish. For the last few years I've done nothing really for myself. I work and I parent. That's it. I know that's the reality for most lone parents, but the last few years have been so busy and difficult that it's only just dawning on me that maybe I could do things differently.

OP posts:
mynewusername2023 · 26/09/2023 16:52

I would work part time for the contact with other people and the social element. But I'd do something that was interesting and without much stress.

Original poster
WineAndFireside · 26/09/2023 16:54

I'm reading all the replies with interest. And the ones saying 'quit now!' are making me smile, though I know the sensible option would be something in the middle.

OP posts:
KStockHERO · 26/09/2023 16:56

Squiblet · 26/09/2023 16:34

Sure, I can think of loads of ways to pass the time, but they would be just that ... pastimes.

My job is enjoyable, purposeful and useful to the world, and I wouldn't get the same satisfaction from a lot of the things PP have listed upthread (gardening, knitting etc)

So I'll ask again - what sort of non-work activities are you thinking of?

Show quote history

I don't understand why engaging in pastimes is a negative, though?
I mean why wouldn't you want to fill you days with activities that bring you joy but aren't work?

I understand that you wouldn't get satisfaction from activities that PPs have posted but that's because they've posted activities that they would enjoy. Surely you're able to think of activities for yourself that you're able to enjoy. Or is work the only activity that you enjoy and brings you fulfillment in life?

I'm late-30s, planning to retire at 48.
There are activities which I do ATM that I'm looking forward to having more time for. For me these are: reading, creative writing, traveling locally and internationally, cooking, crafting, volunteering, fitness. For me
But there will undoubtedly be pastimes that I haven't tried yet which I'll have time to test out in retirement and hopefully take up.
I'm also looking forward to a slower pace of life. I get two days off per week ATM which means cramming everything into those two days. I'm looking forward to just having more time for everything whether that's pastimes or even life admin or chores.

Squiblet · 26/09/2023 17:06

Surely you're able to think of activities for yourself that you're able to enjoy. Or is work the only activity that you enjoy and brings you fulfillment in life?

Of course not. I enjoy most of the things you listed (apart from crafting!). But I couldn't do them all day long. They're leisure activities. And I wouldn't enjoy my leisure time so much if ALL my time was leisure. Like living in the land of the lotus eaters.

Working part time gives a good balance - three days work a week is perfect for me. And I get to see the product of my work out there in the world, making life better for people (I hope!), which is fulfilling in a different way than just doing stuff for yourself.

Caterina99 · 26/09/2023 17:10

I would look for a low stress part time job that I enjoyed (hopefully such a thing exists!)

The extra income would be useful, but mostly it would be a step between full time stressful work and no work.

Mossstitch · 26/09/2023 17:33

I'd quit and take a break. Just because you stop work now doesn't mean you can't work again if you decide too and sounds like your health and well being would benefit as well as more time for your kids.

I went to uni late and started an NHS career at 46 but after about 12 years for a variety of reasons I was burnt out and took my NHS pension. I didn't say I was retiring, I said I'm taking a gap year.......spent best part of a year crafting and just having more time to get chores done in a relaxed state😂 I now do a couple of days a week as much for the social aspect although the money saves me having to go into savings. I have way less than you do, I can easily live on 12,000k a year including plenty of money spent on my now adult children so I cannot see any financial reason that you need to work now.

CherryMyBrandy · 26/09/2023 17:48

Also consider your state pension. You need 35 years of NI contributions. You can get this though by earning just £123 a week. Or by claiming ESA if you think you'd meet the ill health criteria. Pensions do reduce the amount you can receive so you might not get paid any ESA, but by claiming it you can still get the NI credits.

DarkWingDuck · 26/09/2023 17:58

I would also do this.

pompomdaisy · 26/09/2023 18:00

2700 wouldn't feel enough for us as a couple so yes but not full time.

Grumpyold · 26/09/2023 18:02

I get a lot of fulfilment and status, plus social contact from my work and that's important to me, so I'd find it hard to step away completely, but I'd definitely be looking for a way to work PT/very flexibly.

LadyLapsang · 26/09/2023 18:03

Have you checked your state pension forecast? I probably would continue to work in your circumstances.

lordloveadog · 26/09/2023 18:23

If you want to go back to work in 10 years when children are at university, could you? Depends on job type and skills, I guess. Might want to go part time to stay employable?

Original poster
WineAndFireside · 26/09/2023 19:48

I'm up to date with NI contributions, and I guess I could make voluntary ones to stay on track?

I think I'm leaning towards very part time in an easier job. @lordloveadog You're right, I might want to work again once the kids have gone, so it does make sense to keep doing something, even if it's low key.

OP posts:
hippoherostandinghere · 30/09/2023 22:41

Does your employer offer a career break? That could be a good option that still leaves the door open to returning to work but gives you some well needed time out. I'm pretty sure you won't want to return to work or need to return but at least you would have the option if you did.

WrongSwanson · 30/09/2023 22:44

I'd probably drop to something part time and low stress but not stop entirely

Silkiebunny · 30/09/2023 23:00

Similar situation but married and did stop work. Moved to beautiful dream cottage and love that. Travelled fair amount, Australia, Maldives, Mauritius, Norway, Sweden, Azores, Porto as well as round UK which was amazing. A year was cancer treatment and great to not have to work then. Go swimming 3 times a week and very fit now. DD did very well. DS struggled but has SN and not related to me not working. Also done a lot of house projects, renovated one house completely, second one new thatched roof, new chimney, new flooring, new kitchen. I don't miss working, been there done that and loved it for years then started to find all a bit much and could afford to stop. Move to countryside less sure about as bad school for DS though it's largely SN funding cuts. Hospital better here. The other issue is if I wanted to get back would be more difficult but don't really. DH is a bit older and will retire and travel together.

trinibrit · 01/10/2023 10:06

I was also widowed young. The best advice that I received was not to make any life altering irreversible decisions while grieving. Take time to adjust to the new normal and decide what is best for you and the children then. In my case, I dropped hours to 3 days a week to spend more time with my child and help him adjust through the grieving process. By staying in the same position just with lower hours, once he was older and we were both in a better place then I chose to go back to full time because I love my job. But, take some time in a safe way to keep your options open while you decide the best path for you and your children. Noting that your income will drop when the children grow up, planning around this (and uni assistance) would be my front of mind thought.

Original poster
WineAndFireside · 01/10/2023 14:30

I think I'm in a good position in that there are lots of ways to go back to my field in different ways, including self-employment, if I wanted to later.

@trinibrit That's wise advice. I'm actually a decade into being widowed but I've just been soldiering on with work and parenting. I've come to terms with the loss, as much as I think I ever will, and my kids are doing well. It's more that I've finally had a bit of time to think about what might make me happier and feel more fully alive again, and the answer seems to be more time! I'm tired of working so hard and carrying it all at home, and I'm realising maybe I don't have to.

OP posts:
Original poster
WineAndFireside · 01/10/2023 14:47

I'm sorry I haven't responded to everyone personally, but all the perspectives have been really helpful - thank you. I haven't fully decided what to do, but I will definitely be making a significant change very soon. It will probably include a 'gap year' to assess things.

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CantThinkOfANewUsernameAgain · 01/10/2023 22:01

Nope.
I didn't work when dh wage was that with 900 rent at the time. Although our dcs were younger. Despised my job and quit. We just watched what we spent. Still had holidays in uk. Ran 2 cars etc

Lizzyinatizzy · 02/10/2023 21:18

I would keep working but in a less stressful job and maybe part time. It sounds like you are comfortable but not euromillions comfortable and although there are obviously lots of good reasons to live everyday like it’s Sunday (and if your health needs you to slow down you should do) but…
It’s a good work ethic to teach your kids.
You never know what the future holds (yours or your kids).
You can’t buy happiness but your extra income could help set your kids up
You might live to 120 and wish you’d topped your pension up while you can
Its good to feel useful and like you are contributing and needed (your kids will go eventually)
routine that forces you out is good - I’d fester in front of the Tv 🤣

I guess it’s the old saying ‘Make hay while the sun shines’ it just depends what you think the hay is and what you call sunshine.

Bearpawk · 02/10/2023 21:36

I'd work part time, something t I enjoyed and not too taxing. Maybe reception in a nice salon a couple/ few days a week.

Densol57 · 03/10/2023 17:18

I retired at 48 on a very large life pension. I have spent the last 10 years “thinking” I will “maybe” get a job, yada,yada,yada but in fact I spent my life on holidays and cruising. I dont “need” the money. Sometimes I think I want more money but Im too lazy now and adjusted to my lifestyle.

shivawn · 04/10/2023 12:37

I would definitely be reducing work hours, even down to 1 or 2 days a week if possible. Health is so important so you need to prioritise your own well-being.

As for whether you should take early retirement now, it's definitely something I would be considering. What are your current outgoings like? If you have a stable income of £17000 (11k pension + 6k rental income) once kids leave school or uni and you can comfortably live off of it without needing the 500k then I would probably go for it.