I finally did it - retirement is happening

[BG2015]

Teaching since 1996. Loved my job.

Breast cancer in 2021, now in remission but my job isn't bringing me any enjoyment anymore.

Downsized and paid off my mortgage this year, first time in my life I've had no debt and have actual substantial savings!

Decided to retire next summer, I'll be 56 and 6 months. Told my head teacher today, gave him the heads up early as our budget is tight and losing me will help him out somewhat. Plus now it's real.

Felt little emotion other than relief.

Congrats @BG2015 . I’m the same age but have 3 more years.

i hope you have a long happy new phase of your life suiting yourself.

Congratulations on preparing to take the plunge.

Congratulations. I'm going in summer at 55. Not said anything yet. No.mortgage on a tiny house. Will gave to.get a part time job. Hope it all goes well for u OP.

Congratulations. I'm a similar age but need to try to keep going until 60 when I can take my Nhs pension. Every day seems like a chore to get through.

Congratulations! What an achievement. I hope you have a long and happy retirement.

We’ve done similar in that we’ve sold our house, paid off the mortgage and are moving to a less expensive area (tomorrow!!), we will be mortgage free, have savings and will be able to really cut back on work hours. I’m 58 and hoping to fully retire at 60. I’m very excited about this new phase of life!

Good for you! I am the same age but sadly won’t be able to retire as very small private pension - jointed NHS only 3 years ago so will carry on working at least until 67!

Welcome to the other side! I have loved every second of retirement so far and am delighted I’ve convinced DH to drop some hours and enjoy some freedom with me.

I’m 52 this year and going at 60 is I can last that long but good for you

I'm retiring from teaching in the summer - I'll be 65 and will have done 43 years! I haven't told anyone yet....
So well done, OP for taking the plunge and I hope you have a great retirement!

Just one question; when you filled out the form for the TPS, how long did confirmation take?

Congratulations!

I'm going to get a part time job, maybe 2 days a week as it will boost my pension a bit and pay for holidays and extras instead of dipping into savings. Plus I'd like to still meet people and have a bit of structure to my week.

I've started doing a free online business course in the evenings which I'm finding interesting. Hoping it might give me the confidence to apply for an office job.

Teachers pensions say at busy times e.g. March onwards it can take up to 6 months. I think if you apply now it would be pretty quick.

Thank you! I like your plans. I'm definitely going to look at what I can do.

@Maireas have you not taken your teachers pension at 60?

You do know you've missed out on 5 years of final salary pension. You need to go over to Facebook and the Teachers to Teachers pension group who will advise you. You won't be adding anything into your final salary pension now.

I'm not sure if it gets back dated though. Please check.

And congratulations on all those teaching years 🤩

Thanks, @BG2015 - I'm taking advice!

Wishing you all the very best. Xx

Well done you! I am still working (part time) and still dithering about retiring and I am 67!

Congratulations. Hope you enjoy the next chapter.

Congratulations! You won't regret it!
I retired from teaching (at 55) in July of last year and haven't looked back.

You're right to still keep your hand in with a bit of work-my DH and I do exam invigilating-as it gives you a purpose as well as a few extra quid for holidays!

It's so nice to have evenings and weekends to yourself too-i still pinch myself, even after a year!

Congratulations Op. Exciting times ahead.

I've just done the same. I told my head teacher last week that I'm retiring at the end of July. I will be 64. I'm not a teacher but a business manager in a very small SEN school. I'm the only non teaching member of staff so I'm conscious that I needed to give them plenty of notice.

I only have a small pension but thankfully DH, who has recently retired, has a decent pension. I plan on finding something to bring in a few pennies for 2 days a week and I also plan on volunteering at a local cat rescue for one day per week if they will have me!

I've already had a few things where I can say "this is the last time I do ..... " and it's a nice feeling.

I'm hoping to volunteer too. There's a charity called Read Easy which helps people who can't read, they pair you up with someone and you basically teach them to read. In my job I teach phonics and early reading skills so that is something I'd love to do.

I applied a few weeks ago to take my TPS from January and they have contacted me to say it will be in place then. Will be spending the lump sum on holidaying all of next year😁😁😁

Lovely thread. Would like to hear more from people who took the plunge and retired early.

Am 58 and keep doing my sums but I have a fairly pleasant job in the Civil Service and am worrying about needing extra money to help my DC move out when I quit this London suburb and move to somewhere with lots of trees.

Partial retirement at 60 should be manageable. Wish I could afford to go completely and give up my job to one of the youngsters in my team!

I could retire but I am (?) actually enjoying my teaching job at the moment. I am 58 and will go at 61 when we have a school merger and new build. I was a latecomer to the profession and would like to do 25 full years. Just for my own accomplishments more than anything. Plus my husband retired last winter and I don't fancy being stuck in the house with him just yet.🤣

Congratulations. I'm in awe of all teachers who continue teaching until retirement age. I'm 45 and cannot imagine doing this job till I'm 50 let alone any longer. I am exhausted.