Retirement

[Swindon On Tour]

Was informed before Xmas that I didn’t get a role (as expected)

I start 8 weeks of “mobility” in a week or so where they try to place me elsewhere. If they don’t I then get offered voluntary redundancy.
I can knock that back and spend another three months looking for another internal role and if still unsuccessful will be made redundant at that point (mid June). I’ll end up with over one year’s salary in my pocket.

I’ll see how all that goes and apply for external roles but in a pretty good spot all in all.

Good luck to you.
Age is a major factor in all of this. How long can you work at the current pace you are working, how long do you want to work and do you want to retire?
Short term you are not in a bad place, keep playing that time game pushing out the decision (providing the redundancy remains on the table).

I just got to a place where I had enough of the Corporate bollocks, managing a global team and not getting support. I was basically burnt out and friends could see that.
Getting made redundant on one hand was a bonus for me. I managed to get another job for a year but hated it. I was done. The energy and enthusiasm had completely gone thus I retired.

Keep positive and all about you not the Company

 

[TAD]

Good luck to you.
Age is a major factor in all of this. How long can you work at the current pace you are working, how long do you want to work and do you want to retire?
Short term you are not in a bad place, keep playing that time game pushing out the decision (providing the redundancy remains on the table).

I just got to a place where I had enough of the Corporate bollocks, managing a global team and not getting support. I was basically burnt out and friends could see that.
Getting made redundant on one hand was a bonus for me. I managed to get another job for a year but hated it. I was done. The energy and enthusiasm had completely gone thus I retired.

Keep positive and all about you not the Company

Good to hear. I've worked since I was 12 (around 14 hours delivering milk which is probably illegal now)with only 3 months off (leave/resettlement when I left the navy). I fully aim to retire at 60 as you never know what's around the corner. It will be tight till I'm 67 (when luckily we'll be comfortable).
I'm hoping it will be easy enough to pick up a couple of months at somewhere like Amazon over Xmas or temp throughout the year.i don't mind still working and could go part-time within my own organisation but this would still leave me tied. My jib this weekend is to start a sipp for our 60-67 period as our pensions are all defined benefit.

 

[elder]

Good luck to you.
Age is a major factor in all of this. How long can you work at the current pace you are working, how long do you want to work and do you want to retire?
Short term you are not in a bad place, keep playing that time game pushing out the decision (providing the redundancy remains on the table).

I just got to a place where I had enough of the Corporate bollocks, managing a global team and not getting support. I was basically burnt out and friends could see that.
Getting made redundant on one hand was a bonus for me. I managed to get another job for a year but hated it. I was done. The energy and enthusiasm had completely gone thus I retired.

Keep positive and all about you not the Company

I should be absolutely fine. i'm potentially looking at 5 months gardening leave and then move on with over one year's pay in my hand...

I'm going to apply for some external roles to see how that market is but all i need is another 18 months or so of work to get me through to retirement. i might not have to be fussy but i can hack it for that amount of time. i won't apply for any of more corporate roles that people with higher career aspirations want to go for.

 

[Darlo1973]

Good luck to you.
Age is a major factor in all of this. How long can you work at the current pace you are working, how long do you want to work and do you want to retire?
Short term you are not in a bad place, keep playing that time game pushing out the decision (providing the redundancy remains on the table).

I just got to a place where I had enough of the Corporate bollocks, managing a global team and not getting support. I was basically burnt out and friends could see that.
Getting made redundant on one hand was a bonus for me. I managed to get another job for a year but hated it. I was done. The energy and enthusiasm had completely gone thus I retired.

Keep positive and all about you not the Company

My current plan (at 52) is to tolerate the corporate bollox for another few years - not interested in further promotion so I can ignore most of it - and then hopefully get made redundant. Maybe then take a year out and then do something part-time and stress-free for another few years for beer money before totally packing it all in.

 

[Vauxie]

My current plan (at 52) is to tolerate the corporate bollox for another few years - not interested in further promotion so I can ignore most of it - and then hopefully get made redundant. Maybe then take a year out and then do something part-time and stress-free for another few years for beer money before totally packing it all in.

Canny plan,I've had offers to gan elsewhere but im.71 noo like

 

[Swindon On Tour]

Good to hear. I've worked since I was 12 (around 14 hours delivering milk which is probably illegal now)with only 3 months off (leave/resettlement when I left the navy). I fully aim to retire at 60 as you never know what's around the corner. It will be tight till I'm 67 (when luckily we'll be comfortable).
I'm hoping it will be easy enough to pick up a couple of months at somewhere like Amazon over Xmas or temp throughout the year.i don't mind still working and could go part-time within my own organisation but this would still leave me tied. My jib this weekend is to start a sipp for our 60-67 period as our pensions are all defined benefit.

You are old school Mate. Same here paper rounds at 12 (would not be allowed and was never sick once. 30 papers top of the village and Christmas i was rich as every house gave me a tip - must have been my little smile ).

I retired bang on 60 just a week before Christmas.
It definitely requires some adjustment but you might be surprised that you might not need as much money as you think.
Regarding part time work I reckon you will probably want to make that clean break. Take your time. I have landed on my feet and have a part time 4 days on and 4 days off fishing bailiff job. I get paid (cash) to basically walk round a reservoir and collect money for day tickets. It has matches and all sorts going on. Everyone friendly.
The point I am making is you just don’t know what is around the corner and you can pick and choose.
So many funerals now and that is one thing to take seriously mate.
Good on you and it will work out Mate
If I was closer we could have a pint

I should be absolutely fine. i'm potentially looking at 5 months gardening leave and then move on with over one year's pay in my hand...

I'm going to apply for some external roles to see how that market is but all i need is another 18 months or so of work to get me through to retirement. i might not have to be fussy but i can hack it for that amount of time. i won't apply for any of more corporate roles that people with higher career aspirations want to go for.

Sounds a cracking plan mate.
Just keep telling yourself no more Corporate bollocks

 

[DaveH]

I was just thinking about this thread while I was looking at how long is left on my mortgage and what a payment increase would do to the term.

The change to 2025 feels significant, as I hope to retire at 58, in 2035. I'm waiting for a formal job offer after informally being offered a new job with a nice pay rise (though more train travel, which I have not fully worked out the impact of). I think that is going to keep me interested and engaged for at least 3 years, but more likely 5. It starts to break my career down to:
2025-2028: New job for at least 3 years
2028:2030: Hopefully still there
2030:2034: Gap, one last job change?
2034: Begin wind down
2035: Retire (or drop to part time low stress job if I can't afford it)

I'm pretty much left with a 4 year gap for an unknown future role. Time seems to be moving quickly and this is the first time I've been able to draw out a road map for the rest of my career.

 

[Swindon On Tour]

My current plan (at 52) is to tolerate the corporate bollox for another few years - not interested in further promotion so I can ignore most of it - and then hopefully get made redundant. Maybe then take a year out and then do something part-time and stress-free for another few years for beer money before totally packing it all in.

I think hitting 50 feels like reaching the top of a massive hill and looking out.
I had stressful managerial jobs since 27 and was good with money.
We all have big decisions to make and everyone thinks differently.
I suffered massively when I retired from a guilt complex as both my lads have not flown the nest but both work / study. I want to give them everything but that is not always the right thing to do.
If I would have carried on honestly I could have broken and sitting inside churches on regular occasions made me think. Time is so valuable.

Good to have a plan, it might consume you at times and as you rack up more years you will no doubt think of that plan daily.
Nothing stands still and things can change immediately. A new boss for example that wants to bring in his own team (it happens).

Stress is a bastard. I used to think I could handle everything. Only when you stop and get out of it you realise what the fuck it was doing to you.

Good luck to you Mate.
Best advice to keep focussed and talk to people even if you don’t take their advice.
I look back with a smile at a few away games sitting around a table with a few pints with decent mates talking about just this. They remind me now that I was in a tough place and look better now.

 

[Unbalanced Views]

I’ve 18 month to go, just keeping the ball in the corner till then. It’s important to have a plan of what you’ll do once you do retire, it’s no good just watching daytime tv when you’ve worked all your life

 

[waddy999]

My lad has just retired from Exxon Mobil, he’ll be 53 next month.
He reckons he’s earned an obscene amount of money over the years!

 

[Wearson]

I should be absolutely fine. i'm potentially looking at 5 months gardening leave and then move on with over one year's pay in my hand...

I'm going to apply for some external roles to see how that market is but all i need is another 18 months or so of work to get me through to retirement. i might not have to be fussy but i can hack it for that amount of time. i won't apply for any of more corporate roles that people with higher career aspirations want to go for.

Beware the small print regarding external jobs.
When I was in a similar position I was encouraged to apply for other positions, because had I been successful the redundancy payment would have been cancelled. Worth checking.

 

[Spartan]

Good to hear. I've worked since I was 12 (around 14 hours delivering milk which is probably illegal now)with only 3 months off (leave/resettlement when I left the navy). I fully aim to retire at 60 as you never know what's around the corner. It will be tight till I'm 67 (when luckily we'll be comfortable).
I'm hoping it will be easy enough to pick up a couple of months at somewhere like Amazon over Xmas or temp throughout the year.i don't mind still working and could go part-time within my own organisation but this would still leave me tied. My jib this weekend is to start a sipp for our 60-67 period as our pensions are all defined benefit.

Maximising SIPP payments makes sense to get back some tax if you don't need all the salary but better to spend your salary than dip into savings / ISAs

I’ve 18 month to go, just keeping the ball in the corner till then. It’s important to have a plan of what you’ll do once you do retire, it’s no good just watching daytime tv when you’ve worked all your life

I think this depends on how much you enjoyed your work. If you've got a vocation like teacher, doctor, glamour photographer etc you may never want to stop .
If you're sat in an office responding to emails then watching Homes Under the Hammer is like going to Disneyland

 

[TAD]

Maximising SIPP payments makes sense to get back some tax if you don't need all the salary but better to spend your salary than dip into savings / ISAs

Thanks
.yes we've two salaries so aiming to live off one. Was previously saving in S&S issue but realised it's better in sipp to get tax relief up front rather than the end.
If you make monthly payments do you get text relief each month added or is it calculated at end of year.
I'm a bit out of it as all our pensions are public sector/average salary.

 

[Unbalanced Views]

I think this depends on how much you enjoyed your work. If you've got a vocation like teacher, doctor, glamour photographer etc you may never want to stop .
If you're sat in an office responding to emails then watching Homes Under the Hammer is like going to Disneyland

I’m option two. I’ve got all sorts I could be getting on with instead of acting as a cross between tourist information and citizens advice for people who don’t know how to do their jobs.
I can’t wait to be shot of the lot of them.

 

[ChrisK]

My lad has just retired from Exxon Mobil, he’ll be 53 next month.
He reckons he’s earned an obscene amount of money over the years!

Oil industry well paid but well deserved, if he been in the offshore industry it’s high risk work, long hours, long trips away often missing key family events, good luck to him thought I was young at 55 but wow 53 is good going.

 

[DaveH]

I’m option two. I’ve got all sorts I could be getting on with instead of acting as a cross between tourist information and citizens advice for people who don’t know how to do their jobs.
I can’t wait to be shot of the lot of them.

I think there is something sad but also something natural in that. By the time you retire (or approach retirement) it seems that whatever interest or good intentions you started work are gone.

I started my career with loads of enthusiasm and interest, got into doing IT stuff for large enterprise infrastructure, I do enjoy learning new stuff about it, but any passion is ebbing away and when I retire there are so many aspects of my job I'll just never things about again. Today I have been kicking off a project to get something deployed. I can't imagine sitting at 65 thinking "I wish I had deployed just one more system or could dip into work to give it just one more go".

I guess it is the feeling of been there, done that. The specifics change over your career but overall, that is just the tweaks.

 

[YorkMackem]

Maximising SIPP payments makes sense to get back some tax if you don't need all the salary but better to spend your salary than dip into savings / ISAs

I think this depends on how much you enjoyed your work. If you've got a vocation like teacher, doctor, glamour photographer etc you may never want to stop .
If you're sat in an office responding to emails then watching Homes Under the Hammer is like going to Disneyland

Teaching 16 to 21 year olds at 59 gets very tiring, therefore I'm literally out.

 

[Jon Dough]

Teaching 16 to 21 year olds at 59 gets very tiring, therefore I'm literally out.

I always imagined teaching would be one of the most satisfying jobs.

 

[YorkMackem]

I always imagined teaching would be one of the most satisfying jobs.

It is and I loved it, but as I said, it becomes exhausting being in a room full young 'uns all day and pensions are very tempting once you get close to 60.

The CoL crisis saw me chased back into work a year later with HMPPS. I did that for 2 years and now lug crates of shopping for Tesco.

 

[waddy999]

Oil industry well paid but well deserved, if he been in the offshore industry it’s high risk work, long hours, long trips away often missing key family events, good luck to him thought I was young at 55 but wow 53 is good going.

He was a Trader and travelled a bit.