Retire, part-time, new job, something else?

[Smartsub]

I'm at a bit of a crossroads in my career.

For the first 20 odd years of my working life I worked in a very high pressure, high earning corporate environment. I eventually took voluntary redundancy, completely burnt out .

After a short break, I took an entry level job in a different industry that used some of my skills. I was overqualified, but didn't have the specific qualification needed to progress. So I did the qualification and now have a senior job in this industry. When took this job on it was a huge step up for me and the organisation had been badly run in my area for a long time. I have learned loads, worked really hard, developed a great team and sorted the issues. The job now more or less does itself and lacks challenge for me.

I'm 52 and as I see it my choices are:

• coast to retirement, reaping the rewards of the work I've put in over the last few years. It's nice place to work, it feels like important work, but it's not personally challenging anymore.

• Look for another more challenging role. For me that would mean a similar job in a larger organisation, possibly one that needs help in the way mine did when I took over. Whilst the additional challenge would be welcome, this would be a huge step up in the demands on me compared to at present. Plus I'm 52, I suspect persuading anyone I'm the person for such a job would not be easy.

• See if I can reduce my hours. That might be nice, but I'd end up doing the same work for less pay. TBH that would be entirely possible, I'm not really working FT ATM, since I've got everything running smoothly.

• Just leave now or in a year or two. Some days I really want to get of the treadmill. Others I wonder what I'd do with myself. I could fill the time easily enough, but most friends are still working and I wonder if pottering about would be "enough" for me. I like a potter and I have hobbies. It would be nice to have more time for that, but I'm not sure just that would be good. I did some volunteer work during my short break and whilst I enjoyed it, it didn't "drive" me in the way my jobs have.

Financially, my previous job left me well set up and I live a fairly modest life, so I could retire now and use savings until I can take my pensions, without changing my lifestyle.

I'm a widow with 2 adult children, still at home but working full time.

WWYD? Actually typing that out, has helped and I think I know, but I'd be interested in other's views or if there's another way I haven't thought of.

What a great situation to be in. I’d start by dropping a day and hope that the extra time and space would allow a new challenge or direction to emerge.

No idea of your financials, but the chances are that reducing your hours will less proportionately reduce your take-home pay, i.e. you'll be eliminating the hours that are taxed the most.

I’m 43 and wondering whether I should push myself to do a bigger, more senior job or stay in a comfort zone that allows me a very good work-life balance.

The difference between my situation and yours - apart from the obvious difference in proximity to retirement - is that you’ve already built two careers up to a very senior level. There is nothing to prove, whereas part of my indecision is due to my career progress being much slower.

Could you ask or organise your current company to release you on secondment to eg charities etc to sort out their systems one day a week? New challenges for you, and beneficial from a publicity point of view for your company.

I was 42 when I had my career change! I can't imagine coasting for, what, nearly 2 decades?

How much do the company you're in need to keep you? Do you keep your own diary? Is it possible to negotiate the same pay on work achieved rather than set hours? That way you would do the same but be able to set your own working hours.

I wouldnt leave work altogether at 52 in your position. If I had enough going on outside of work I would coast, quiet life outside work I'd look for a challenge.

This is part of my issue. I feel a bit of a fraud. They think they need me and they really did when I started, but if I wouldn't replace me FT if I was in their shoes.

No they won't agree to work achieved for the pay, it's not that kind of organisation and TBH I think it would be hard to manage a team of "workers" on that basis, there'd be a lot of resentment, I think.

I do manage my own diary and can work pretty flexibly, but again I'm careful not to be seen to do that too often, more because of how it looks to my staff than to my boss.

I think your response to my comment is quite revealing, op!

I don’t necessarily see ‘coasting’ as a negative. As a deliberate choice to prioritise life out of work I see it as very positive. Likewise, early retirement is extremely attractive - in contrast to your first post, I find myself far more motivated outside work. While I don’t want to be bored at work, big challenges aren’t something I would wholeheartedly relish as they would leave me with less time and energy for my non-work goals.

I get the impression you see challenge as far more unambiguously positive, and in that context I wonder why you wouldn’t just give a new job a go? If it gets you all fired up, great, but if it ends up being dissatisfying in any way it sounds like you have other options.

I couldn't imagine retiring proper with potentially half my life ahead of me.

Can you find a challenging PT role? Consultancy?

I agree with looking for very part time opportunities, perhaps volunteer, that you could do alongside your current job.

You sound like you’d make a great Trustee for a charity, often they are looking for Trustees with particular expertise or who can help them through a transition. Usually require c 1-2 days per month which means it could fit with your current job (you might have to sneakily block out the odd day). Or you could go pt in current job if you don’t like the idea of doing that. Or ask if they allow volunteering leave.

In due course this could lead to paid non exec type roles or perhaps self employed consultancy. Which are great semi retirement options for those with the right expertise - challenging but not full time hours. You do have to be able to sell yourself though, they are competitive fields.

I agree with a PP that your comment that you couldn’t imagine coasting for two decades is very revealing. I could do a coasting job quite easily as long as it didn’t take up so much time that I had no chance to do other stuff. You sound more driven.

52 is not retirement age nor is it too old to take on a challenging job. As my children got older and needed me less I have found my interest in work has rekindled and through my fifties I steadily increased my role in different organisations. I love a potter but am also easily bored and feel I have lots of skills and experience to offer.

I am just about to take on my most challenging role for 20 odd years at age 61 and I plan to carry on working at least up to age 70.

Whilst reducing your hours would be doing the same for less £, you have said can afford it and that you could do the work in less hours.

The benefit is the time off to look at what opportunities are out there as you move towards retirement. As pp suggested looking for trustee or non-exec roles, mentoring, finding new hobbies/interests, study, travel etc anything that starts the process of letting go of full time work for one employer and moving towards PT roles that you can flex to fit your future lifestyle.

I suppose it depends upon when you want to retire.

My health isn't great, so I did the part time pensioner thing. Took early retirement from a high pressure CS role and work in a shop part time. Heaven... because I work with nice people.

I was going to suggest what PP have said: go down the consultancy, non-exec director, trustee, etc route. Get involved in a start-up (you could afford the risk of foregoing salary for equity).

Are there any charities or support groups close to your heart? Women's rights or mentoring young people, maybe. This may be easier said than done: when I tried it (years ago, things may have changed) there were more naice middle class people wanting to help than young people seeking help!

Are you in an industry body? Could you get involved in the local committee, go on to national level. Or get into politics.

Get networking!

@Darley368 are you me? I could have typed your answer word for word!

@Smartsub if you feel you have spare @challenge@ capacity I would look to reduce your hours and take up something alongside that will give you the stimulation you are looking for. Have you thought about becoming a magistrate? I know they are desperately looking for them and it sounds absolutely fascinating. Likewise charity trustee. Or how about setting up your own business?

I think you want a challenge, OP. Go for that.

What did you change career from and to OP? Asking because I'm 40 and completely disillusioned with corporate world.

Don't know if it's because juggling kids (7 and 8 now)

My DC were about the same age, actually. I think it actually gets harder to be working in a "big" job as they get to junior/young senior school age. When they're tiny it's easier to let a GP or CM attend to their needs, as they get older they need "you" (IMO).

I'm a School Business Manager now. I took a big paycut for my first school office job, but my previous experience and some study enabled me to progress quickly. You'd be surprised how much money is offered for these kinds of roles in the Academy chains. Lots of people will tell you it's a very demanding job and it is, in that there are lots of conflicting demands, but nothing like what I faced everyday in corporate banking.

I'm the same age as you OP. I admire you for having the enthusiasm for even considering a new more challenging role, mind you I moved team during lockdown for more or less the same reason.

What's your pension provision like ? If there is scope to reduce down to say 4 days but still have a decent pension at 60, I'd say do it.

Another idea - is there any scope to expand your current role, so volunteer to do something extra to give yourself more of a challenge, but not impact your take home pay.

I also like @minipie suggestion of becoming a trustee, in fact I might see if there is something like that available to me as I'm 4 days a week and vaguely thinking about transitioning over to a side hustle if I can find one - probably a pipe dream for a few years down the road.

I'd say if you got burned out by stress in a high pressure role, be very careful what you move to.

Thanks OP. Yup I am in financial services. But I couldn't start over let alone in a school environment at this age! Kudos to you for that bravery.

I think it actually gets harder to be working in a "big" job as they get to junior/young senior school age.

I totally agree. How about senior school age? Thinking of pivoting to something less visible. I'm not sure if I'm throwing away it all now only to find myself bored in 5 years time - or worse, more stressed for less pay. Work is work after all. Also continuing will allow me to contribute to private school fees if needed, unlike most parents I still have no clue what's going to happen for senior school.

In my situation I wonder if I'd lose a certain lifestyle with my kids that I cannot get back - trying to figure out.

If you think the worst that could happen is a bruised ego, then go for the challenge. If you think the worst is your sanity and leisure time eaten into, then stay or reduce hours.