What age are you planning to retire

[Flutteringround]

I work in healthcare and I love my job and would be happy to just continue on till normal retirement age. However although the majority of the people I care for seem really happy and appreciative of my care, I’m becoming disillusioned by increasing number of people who ask for a change of practitioner (only up to 2-3 a year and never for any report of clinical failing or rudeness) but still feels demoralising each time. Therefore I’m thinking of retiring as soon as we can get the mortgage paid off (around 60 if we overpay etc) Just wondering what age other people are thinking of retiring and how planning to fund or if you work in healthcare have your or would you consider to switching another job nearer retirement?

Retiring next year, end of March, I’ll be 62. My job is full on and involves weekend and evening working and I’ve had enough. I have a good pension but will probably look at doing some part time temp work or voluntary work over winter and not work in the summer.

OP, retirement aside, can you in the mean time try and take a different attitude towards your patients, a more distant approach.

I don't work in healthcare but I do teach kids and also work with the general public in another role.

I have parents come to me telling me what a great coach I am, and in other situations I put my heart and soul into teaching their DC on a one to one basis, with great results only to be swapped out for another, or no heads up when they decide to leave.

They expect me to be fully invested in their DC, but give me no courtesy back.

My point is, don't let the general publics lack of respect and their rudeness influence your life goals. Be professional, and do your job correctly, but if they bugger off to someone else, let them. I am learning to do this. I'll do my job, but if you don't want to be here I won't give you another seconds thought either.

I'm planning on giving up at 62. Mortgage is paid off, I have a private pension, but still need to clock up my NI contributions a bit. This, or if one of my DC asked me to help with childcare I would hand my notice in 5 mins later.

I retired at 57 a few months ago. Whilst I’m still working on finding my new routine I’m loving it.

I’m 49 now and would like to retire when I’m 55 and DH is 57. DS will be off at Uni. Financially I think this should be doable due to inheritance (I have already inherited- not counting chickens). I want to travel as much as possible

Started reducing hours around 49, fully retired at 56. Funded through savings currently and for the next year or so then I’ll access pension.

Have you run your numbers to see what age they suggest? You don’t need to wait til mortgage free…I still have mortgage but my pension/investments generate much more than I would save by paying mortgage off.

67 and I’m dreading it as I really love my work, but another three years is realistically all I can manage. My pension pot (private; been self employed for 27 years and didn’t have a company pension before then) and state pension will be more than enough for me alone but I’m supporting two family members financially and I worry about what will happen there when my earnings cease 😢

Currently I’m thinking 70. I love my job and it keeps me busy. I’m 64.

60 too. Mortgage will (just) be paid off and I should have enough in a private pension to broadly live off the interest draw down plus the tax free lump sum until state kicks in (who knows when that will be in 14 years though!)

My plan is 60, so 11 years or so but depending on how my current savings perform, it could be 62ish. I'm counting down the months already despite loving my job, but I haven't paid into a SIPP every month for the last 30 years and salary sacrificed to work until I drop!

62. Hopefully

I’m 48 and ideally would like to retire at 53/54. All of my (small) salary goes into my pension and has been for a couple of years or so.

I am same as a PP whereby DH’s pensions is better than mine and he wants a higher standard of living in retirement. So what I don’t want is to feel left behind financially, even though we do have completely joint finances.

This is why I am putting all my salary in pension, to go some way to catching up DH, though I’ll never get there.

I am already part time in an easy job so really I should just stay til at least 57 to build up more of a pot and so I can access private pension.

It will depend if I can stand to stay working as despite it being easy, I am also frequently annoyed/frustrated by it.

Edited to add: we paid off mortgage about 3 years ago and had our kids young
ish so they ought to have moved out by the time I am 53/54.

In Nhs i get part pension at 60 (95 version) and then at 68. Im a very average earner so while i appreciate the scheme. It wont be huge monthly. Mortgage will be done and hopefully i’ll have saved because of this. No inheritances and seperate finances with my partner ( no kids)

Realistically it could be anything between 60 and 68. I’ll be part time before then i hope!

I know of a healthcare worker still working part time in her 70s.

I’m hoping to be able to go part time from about 60, not sure when I will want to completely stop by. DH and I both have very good public sector pensions so assuming we get our mortgage paid before 60 I’m hoping we’ll have flexibility but will plan nearer the time, only late 30s.

I'd like to go part time (probably 3 days a week) at 60 but then I hope I am happy to keep working until at east 75. Life may have other plans but isn't that always the case!

Thank you very much , I’ve always seen my role as a vocation more than anything and hopefully always will to an extent, however I think your advice is very sensible, to do just do my job well and professionally but have that mental distance. I can’t imagine ever not having a genuine care for my patients but I do also need to develop that mental distance more.I suppose the silver lining at least is that the more challenging and demanding patients seem to remove themselves from my care and I end up with a caseload of really lovely patients. Although in the days before people went to your manager to ask for a change at the drop of a hat it was rewarding to win such patients round in time. Things are however as they are.
Lucky enough for job to give me a great work life balance at the moment as well as decent pay. Thinking around 62 too would be the ideal age in terms of a balance of financial and life goal terms and would tie in with when I think DH wants to retire too

Neither of us NHS. DH was burnt out at 57, and eventually retired 18 months later. I'm two years younger. One of my jobs, I just couldn't and mentally didn't want to take the pressure, so left a year ago. My second job left me constantly feeling demoralised and I've always hated it. I left three months ago. My own pension is minimal and I haven't taken it, so currently we're living on DH's pension, just over £2k pm. We've found can easily live on this. If we have to dip in savings, we'll easily make it up with my pension and old age pension. If you can pay the bills, have a good social life and either interests you're passionate about/new things you'd like try, or are just happy and chilled being at home, then go for it. Life is for living and enjoying.

Mid 50s

we’ve been saving like crazy to make this a possibility

Our original plan was 50 but then we had kids and it moved to 55. Now the kids and I have a horse/pony each, I want to spend all day with them, but we need to work to pay for them
57 is probably realistic; I’m 47 now and have been overpaying on my pension to varying degrees since I was 24. I have 10 years in a DB scheme and £400k in my DC scheme, plus DH has a decent DB scheme too.

Mid 60s ish. Will go part-time though 2-3 days in 60s hopefully

I'm 47 and haven't even considered it. I worked part time when my kids were young - so from 25 to my early 40s - in a job that I didn't love. I now run my own business and feel like I am just getting into the swing of my career.

You have done well, sounds like lots of options with that amount saved already!

I am 62. Work 4 days pw. Hope to carry on until 70+ as I love working and the work that I do. Life might have other plans for me but that is the current plan

I retired at 54 and DH retired at 56, he is 2 years younger than me so I was 4.5 years retired alone. Did a lot of voluntary work and classes. I took out a pension at 21, two maternity leaves of 6/9 months. We paid off our mortgage by the ages 37/39.

55. Next summer. I cannot wait. I will have north of £1M saved by then. Husband will carry on for another couple of years and we will live on his salary.

57