Did anyone else have a "fuck it, I'm retiring" moment?

[MrsMoastyToasty]

I'm in my late 50s, mortgage paid off, have worked since the age of 18. I'm so close to jacking my job my job in .

I still have wine on the weekends but I no longer crave it . I think I was medicating with it . I was drinking a bottle every Friday and Saturday night . Now I only get through one bottle in a weekend. It's enough for me and I found I enjoy it more .

I’d love to as I have a boss who is making my life hell and think I may get a severance offered sometime soon! Unfortunately I am still 8.5 years from paying mortgage off and 3 children to support for the next 6 years at least! If not 10 if they go to uni!!!

@SiobahnRoy I've just compiled my resignation letter today ready to hand in when I apply for my teachers pension on the 1st March.

I'm leaving too in the summer. I'll be 56 and 6 months. I've been teaching since 1996 and I'm just totally done,

If I could leave next week, I would.

I’m in my early 40’s. What do people think is the best way to achieve early retirement.

i currently pay into my local government pension scheme and overpay my mortgage.

is there anything better/smarter I can do with my money to make it work for early retirement?

@Temporaryname158 look up Rebel Finance on Facebook and YouTube.

Wish I had found them sooner. The Donegals are the founders.They are both in their 40's and retired.

Well—I did quit my job at 60 but only to start my private practice. But I remember my incandescent joy at writing my scathingly polite fuck off letter to my incompetent bosses.

If in the LGPS ( I am too) it's worth considering AVCs ( Additional Voluntary Contributions) if you can. Can increase and decrease your contributions depending on financial situation etc.

You take AVCs the same time you take your pension and the whole of the AVCs are tax free!

I'm older than you and intend to retire in the next couple of years ( max ) so I'm maxing my contributions ( can only max so that you're getting minimum wage). This will offset some of the actuarial reduction as I'm retiring 'early'.

This means I'm basically not paying any NI and tax - as is all going in the avc. Still paying into my normal lgps pension ( as this comes out first). My employer does the shared cost avc - so their saving also goes into the avc. Sacrificing £1,000 in salary and £1,400 goes into the AVC. Can decide how invested- I'm low risk as going soonish - can up your risk ( and potential returns) if you've got longer to retire.

Check out your employee benefits part of the website as should have details.

Should say that I've checked my state pension forecast and I'll get a full one - so all good re not paying NI contributions.

I'm definitely going to retire this year and I can't wait to hand in my notice. I discovered yesterday that I need a molar removed and an implant, due to a failed root canal - I'm kicking myself for not going sooner as I don't think I'll get through the process before I lose my dental cover. Oh well.

I'd quite like to get a part time job though, but I don't really know where to look. Years ago, I'd have looked in the local paper but I don't think that's such a thing these days. Any suggestions?

Indeed, Glassdoor, Reed, CV library, local government sites, charity websites. All good places to start your job hunt.

Thanks @BG2015 will look at those.

My employer doesn’t contribute sadly but the info you have given is really helpful thank you. I had wondered the benefit if I could only take it at the same time as my pension so this is really helpful as to why that’s useful.

In the spirit of getting ready, I checked my state pension yesterday and I only have 5 more years of NI contributions to make to get the full state pension.
Feeling very grateful for some past decisions which I didn't even realise were good decisions at the time. Like starting part time jobs at 16 and claiming child benefit when I was a SAHM and repaying it. So my only gaps are uni years.

On the subject of part time jobs, has anyone gone from a senior position to going to a much more junior position part time, in a different organisation? I'm interviewing for something next week and I'm already worried about how I'm going to handle the lack of autonomy that you get with a junior position.

@Floofydawg I think this is a mindset thing. Think of it as a job, not a career. It's something extra (if you're taking your pension) to supplement your pension.

If you're older, just take a breath, do your job and take a step back from the stress.

That's going to be my philosophy.

We moved to a new area when I was late 40s , I never went back to work .

This is the best thing I have heard in a long time

Good tip, thanks. I just had a moment today when I had a call for an interview for a part time job. Recruiter was talking to me like I had no brain 😆

Some recruiters are so bloody rude

And so unprofessional!!!!

I'm 38 and have felt like this for 10 years!

@Floofydawg I have done this. Today was my first day in a new part time term time role at a university having moved out of university finance. For me it's on opportunity to have a complete change and reset. I probably could have gone part time or job share in finance but needed to make a complete break and change my mindset.
It's too early to say what it is going to be like but am looking forward to different challenges but something that I can walk away from at 5pm. I will be learning new skills so for me it was about finding the right job with enough variety and learning to be enjoyable but leave at the door.
Good luck in your search.

Thankyou, hope it goes well for you.

Yep, just did my finances and worked out that I could leave in a couple of years when my mortgage has finished. It's a good feeling and I love that I have the freedom to do this. Its been really hard work for decades to get to here.

How much pension did you retire with?

Two weeks today (1st March) and I'm applying for my teachers pension. Literally counting the days away.