Help me not to quit yet

[tiredofthisshit21]

Hope this doesn't come across as a brag about my pension pot because it's not meant to be. I just turned 56 and set myself a goal of working until the end of next year before I retire. I started a new job earlier this year after leaving a very toxic one where I was made to feel a bit worthless. I nearly quit work at that point but didn't want to finish my career on a low. New job is mainly good if a little challenging starting again with a new organisation in my 50s, but team around me and manager are very supportive. I WFH most of the time. My issue is that I just can't bring myself to care about any of it and I just can't be bothered most days. I do my work to a good standard but I don't put in any extra effort.

Financials: couple of years left on mortgage but DH could cover it if I quit as he intends to work for another 2-3 years before retiring. He earns £70k ish.
£400k DC pension pot, with £5k pa DB kicking in at 60 (mine, not DH's. He will have a modest pension too when he retires).
£100k in ISAs (again, just mine)
No dependent kids

I know that if I kept going for another year or so I would be better off financially as I'd be able to save around another £20k into ISAs, as well as continuing to add to my pension pot and having another year of growth.

Help me to see that it's only another year and I should just stick it out?

Why did you set yourself the goal of working to the end of next year?

From what you say, it sounds like you have plenty of money. Have you done a budget?

What will you do if you don’t have work to fill some hours? What’s the plan? Hobbies? Holidays? Looking after grand children? Volunteering? Education? Empty days can be very demoralising very quickly and for some it can be hard trying new activities and meeting people (for a whole raft of reasons).
Would you be ok if something happened to your DH and you had retired? Both financially and mentally (work provides a basic routine to just keep you going if the worst happened.)
Perhaps spend this year planning for retirement, with an option to postpone retirement if you find another job/something else or reason to want to stay on. No one needs to know your plans that quickly.

@DwarfPalmettoI guess I just wanted to give the new job a good stint and get a bit more money behind me.

@Alphabet1spaghetti2I had a few months off before I took this new job and had no problem filling my time. I'd be fine financially if something happened to my DH although given he's a bit younger than me I hope I won't have to worry about that.

Then go for it! Life is short and if you would be financially ok, enjoy yourself. I cannot think of a reason to stay in work!

Oh dear I actually expected to be told to stick it out 😂 and now I'm really tempted to sack work off once and for all!

Sounds like working to a certain date was just an idea you had, there was no practical reason to choose that date. I honestly think that once you leave, the length of time you stayed in the job won't matter at all.

You started this thread asking us to convince you to not to quit, but all we are doing is giving you reasons to retire. Your don't find work fulfilling, you don't need the money, you have other things you want to do besides working. As above, life is too short. Take the plunge!

Unless there's a financial reason to stay, I'd leave.

It doesn't need to be forever, if you're off for a year or so and find yourself bored or struggling or really desperate to go back, there's always options.

We're on track to retire by 55 and even that feels like such a slog. If I had the financial position right now to quit, I would.

Life is too short, nobody is sitting on their deathbed wishing they'd spent more time at work.

Hahaha definitely not the answer I was expecting. Appreciate the responses though - thanks.

Retiring EOY at 54.
If you’ve done a budget, worked out your outgoings and what money you will need and the numbers add up then go for it.
If drawdown remember 4% rule, or you will erode your pot too quickly
Good luck

You could always opt to work part time somewhere… a bit of both working (money!) and more downtime to do what you want.
Thats what I’ve done, rather than full retirement, but
a) I cannot despite what my IFA says believe I can fully retire.

b) I actually like my colleagues who are also my friends (rare I know!!
c) need the routine/structure/feel useful that work provides.
d) feel a bit too young to take full retirement/don’t quite know how to plan my time for maybe 30+ years of being alone at home.

but you’ve checked all those boxes! So go for it. Although you seem disappointed that non of us can come up with reasons for you to stay……maybe subconsciously you either feel guilty (erroneous!) about retiring or you don’t really want to just yet……

Yeah I have thought about the part time route but couldn't do it in this job because I'd end up cramming a full week's work into PT hours for less money. I'm paid well so it would be a case of taking a minimum wage job for say 3 days a week which I'm not averse to, it's just a big change from doing a professional job.

I think maybe I'm just not fully convinced that I have enough money yet....

Posted twice. Sorry.

Then consult an IFA (not that I quite believe mine - years of being poor) or stay until something comes along that you would regret staying in your job and missing out on comes along.
or you find a convincing enough reason to retire!

I would think I would do it for six months and set myself that as my limit. I'd cross every day off and enjoy the fact that e.g. this will be the last October I work and so on. I think if you have a deadline it's much easier to deal with it.

Going against the grain here but is your reason for doing another year to give you certainty that the figures stack up for you and your husband? If so, I would do the extra time to make that happen. I would think of it as getting to the point I hand in my notice and cross off the days until then. I would particularly say this if your husband doesn't have great pension provision as he will be covering the mortgage when he could be increasing his pension contributions.

Husband's pension is fine but he has to do a couple more years as he's younger than me. Maybe that's where a bit of guilt comes in, me finishing first. But then I have worked longer...

The knowledge that I could quit if it gets too much is quite liberating. Maybe I'll split the difference and finish a year from now.

If he is sorted, I wouldn't worry about finishing first. My husband is older than me and has already retired. He has been brilliant and I am enjoying having a house husband. It is one thing that makes working more bearable.

After a terrible night's sleep I'm seriously considering my life choices this morning! Two big meetings today as well. I'm getting too old for this I reckon.

I'm 56(57 in February) and I've just retired from teaching.
Ive got another very flexible self employed training role that I can do. I'm also going to volunteer to teach adults to read.

Once I'd decided to retire I couldn't stop thinking about it.

That’s the problem when it’s in your head you are already done - and only one solution

I have to say, today has been a massive struggle on my 4 hours of broken sleep. Oh well, tomorrow is another day. Every month when I get to payday I clock up another month when I didn't resign!

It’s aldi another month of your life you won’t get back doing what you want to do. I have 15 months to full contributions to my Pension. You won’t see me for dust even though I won’t be able to draw it down for 2 years after that.

@VaddaABeetch oh I'm completely paid up for state pension already. But I can draw it for another 11 years - that's the issue!

DH and I retired from careers we enjoyed in our early 50’s. Best decision we’ve ever made!

@tiredofthisshit21 mine is a private pension & theirs a minimum age that I can draw it.

If I could afford my own & my employer’s contribution tribulations I’d be gone.

It’s deciding when enough is enough?