Early Retirement - have you, would you ?

I was retired on health grounds at 50 and for a while mourned the career I had worked so hard for. I couldn't afford to pay the mortgage and had children in higher education. However, I moved to a cheaper but beautiful country area and made my new home work for me by taking in paying holidaymakers. Enough money to pay the bills - if not for expensive holidays, clothes and cars!Good neighbours and visitors who became friends. Not what I would chosen when the chips were down - but no regrets. Time for myself and other people turned out to be worth more than anything else.

I retired at 53 as I had a job I didn't enjoy, worked ridiculous hours and had simply had enough. We decided to downsize and leave London so that we could set our children up in their own homes and, though it took a while to sell, we achieved our goal.
We bought a large listed house and spent 14 years there, thoroughly renovating it before selling 5 years ago and downsizing again. This gave us enough capital to come back to London to be nearer to our family and help our them move to their next homes.
I'm now 74 and don't regret giving up work early, though we were lucky that we could afford to do it. My husband is five years older than me and retired at 60.
We're in a flat now, which for us is more practical as our previous large houses had a lot of stairs and needed constant maintenance.

Sorry a couple of mistypes

Retired at 58 did my sums , no debts, did 36 years teaching enough was enough! Never looked back , now 75 and making the most of every opportunity .

Had to take Medical Retirement in 40’s. The nastiest part of my life as my marriage broke up & I had my young son to bring up on my own! Bad time financially as I was not told how I could get help as the people in what we then called ‘the dole hole’ were only interested in getting the unemployed back to work. Was not until I reached 60 years old & got my pension I realised how I had been left out in the cold for years when I was sat down to listen to a young man who explained what I had missed out on but could not claim for the loss then! So now at 81 a bit better off getting my pension that has to be topped up by the dreaded Pension Credit that only makes my meagre pension up to almost the level of other peoples. Dont ask me why, takes to long to go in to! So now can enjoy the bit of life I hope I have left by at least eating & staying warm now. Living in Council property which to me is more secure than private renting that I had to do for too many years. So early retirement was horrible for me but glad that so many Gransnetters have/are enjoying theirs. Enjoy because none of us know what is down the road do we?

I had to retire on health grounds at 59. I had an excellent salary and had planned to work until 65. I loved my job.
It took me a long time to come to terms with it. I eventually ran out of sick pay, but it is amazing how you adapt financially. You have to!

My granddaughter was born during that time, born after 15 years of trying. She literally saved my sanity. 💕

My DH retired at 60 and loved having time to pursue his passions hobbies from rescuing buildings, opening a shop, giving talks and lectures. He did some lecturing after retirement which took him around the world.
Having had cancer in his 50s he probably knew it could return which it did but 14 years later.

I am a self employed potter and teacher of ceramics and have not retired - just slowed down. I like it this way.

My DB, a teacher, managed a year's sabbatical in which he got a further qualification and began to write a book which was published several years later.

A friend took several months out of teaching aged 50 and cycled around Europe by herself. She returned refreshed to school and family.

So I'm not sure stopping work is a good idea but doing something different is.

I retired on ill health at 57 my proper finishing age was 60 although I didn’t get my state pension until I was 66, I had my NHS pension.
My husband retired at 55 although he is 6 years younger than me, he also had an NHS pension but won’t get his state pension for another 5 years, we manage ok and go on cruises a couple of times a year, I enjoy cruising now as my mobility is limited, we did all our long haul holidays when we were younger and fitter so now enjoy relaxing holidays.
The problem is the government wants us to carry on working until we have one foot in the grave and that’s mentally and physically impossible in some professions.
I go to a choir once a week and husband has his various hobbies, I am looking for other activities during the day but find there’s not much in my area for over 60s but not yet 80 if you know what I mean, there are plenty of walking groups but as my mobility is limited they wouldn’t be for me.
Just a last thought I was much more organised when I was working than what I am now as I tend to put things off until tomorrow, and I’m finding fault with the house all the time as I’m in it more often.

I was a secondary teacher. I decided to retire from teaching at 56. I have never regretted it. I am also a foster carer to 3 late teens which I have continued with. I had enough savings to live from from 56-60. At 60 I drew my Teachers Pension and drew my second pension into an annuity I draw each month. In 2 years and 3 months time I can draw my full state pension. I think I shall carry on with fostering late teens until I am 67 at which time they will be early twenties and hopefully all 3 could rent a house together somewhere close by.

Retired from 36 years secondary teaching at 58. Waited till mortgage was cleared and had 5 years working mortgage free. Have not regretted 1 day and I loved my job but it is exactly that....a JOB...I do not get bored,never have in my life... I got 6 years with dad and took him back to Germany where him and mum holidayed a lot, we went to Lewis and Harris,Kintyre and back to Northumberland where we holidayed a lot when I was little. Gave me 9 years with my dog,enjoy gardening,travelled all over the world,spend time with family and friends. Love being retired.

I would urge anybody who can afford to retire early to do so as you never know what’s round the corner.

My husband was self employed and was always very busy with returning and new customers. He worked hard and paid into a private pension but it wasn't really worth the paper it was written on and he cashed it in ages ago. I asked him many times to retire but he actually enjoyed talking to customers and sorting out their problems.

He eventually did listen to me and was just looking after old customers and not taking on any new ones but was still working at 71 when he had a massive stroke completely out of the blue. Our lives changed and all our plans for a healthy, happy retirement have fallen by the wayside. He is in a wheelchair mostly with a paralysed right side of his body, memory problems, speech problems and depression. It’s horrible for both of us as I am now his full time, unpaid carer and he is dependent on me which he hates.
Just do it!

I retired early 13 years ago at the age of 56 and despite being a WASPI woman. It had been so galling to see slightly older (female) colleagues retire on full State Pension plus Civil Service pension when they reached 60. I had to wait until I was 66 a couple of years ago before I got mine. The only reason I could retire early was due to paying off our mortgage (16% interest at times!) early and saving up our own nest egg which has been under attack since Rachel Thiesves got in.

I did, best thing I ever did, especially as my husband became ill just after the date I originally planned on retiring.

After much agonising DH took early retirement at the age of 58. Best decision ever. Thus began two decades of travel. A very special time for us both as the demands of the job had meant that we had spent a lot of time apart

Chardy

I went on a workplace pre-retirement course in my early fifties. In those olden days, retirement was 60. I was told that if we retired 5yrs early, we'd lose 25% of their workplace pension as we were taking money from the pot 5yrs early and not putting anything in for 5yrs
I'd never thought of it like that.

I did a pre-retirement course too. An NHS nurse aged 70 was on the course because she could not afford to retire. By the time she was given info about benefits and pensions and NHS pension, she was in tears as she could have retired 5 -10 years earlier

Interesting this thread I retired at Christmas and am thinking of going back just a few hrs two days a week can’t decide.

I did. Aged 64, and for the 1st 2 years I was very busy, but feel that I became older than my peers about 3 years in. Seem to lose speed.

My friend was a Modern Matron and she retired early with a very, very generous NHS pension. After less than a year she was bored stiff and went back to work part time in the NHS but in a completely different role with less responsibility and stress.

I worked full time till 50. Very stressful. Followed by 10 years for last years of parents. Followed by 10 years half time in a completely different job. Followed by by 10 years of volunteering for a variety of things a couple of days a week. Just doing U3A groups now. Enjoyed it all and I was lucky enough always to.be able to stop when I'd had enough.

In the various groups I belong to we are finding that there are few newly retired people. Most committee members are over 75 and there aren’t the younger people coming up to take on the roles. They must all have gone travelling!

DH retired on his 65th birthday. He would have happily retired earlier but continued until he got his state pension - but not a day later! I was then 60 and self employed, I continued until I was 62 and we moved house, downsized and therefore money was less of an issue. I suppose I was a 'kept woman' until 66 when I collected my state pension. I don't have much private pension income, being a stay at home mum, and he has a few bits and pieces. We also have two small rental houses which we bought after inheritances, so have a comfortable income. I wish DH could have retired earlier, he has always had lots of hobbies to keep him occupied.

@Franbern My much younger brother also has a very high powered, exhausting and stressful job in NHS Mental Health. He is 55 and counting down the days until he can retire. I hope his own health (and that of your daughter) is not too damaged by the high stress levels, so that they can enjoy the retirement they deserve.

I retired from my full time teaching role at 57 following the death of my youngest son when I realised that life is for living to the full as time is short. I did some odd bits of supply teaching to top up my teachers pension until SP kicked in but still had time for term time holidays and plenty of visits to the grandchildren. Def no regrets.

The consensus here is delight in having retired early!

I retired at 56 after 35 years of full-time lecturing and management in F and HE. The intensive long hours meant I had no time to do all the other things I wanted to do - walking, seeing friends, painting, cooking, travelling, doing voluntary work, sitting in the garden, etc. DH became self-employed at the same time, just working when he wanted to. We moved out of London straight away, worrying that we might regret it (both had spent all our lives there) but it was magic to start again in a completely different and beautiful environment and throw ourselves into our changed lives.

Yes - do it if you have the finance and a plan!

I haven’t come across many that have regretted retiring - whatever their age ! 🙂