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Legal, pensions and money

Shall I jump - is it feasible to give up work?

(32 Posts)
SueEH Wed 13-Jul-22 12:15:35

I have two part time jobs of two days each. One is for a friend and love it and the other I hate.
The one I hate is in a supermarket and I am frequently left to run the unit singlehanded… the manager walked out two weeks ago and there’s currently three left, me, a student and an off sick every five minutes 46 year old.
I am 61 so approx 5 years until state pension age. At that time the SP plus a couple of small private pensions will give me an income pretty well what I get atm.
I do have some annual family income and at some point when I lose my lovely 93 year old dad will inherit a very large amount of money.
I dread the supermarket days and am considering giving in my notice. With my savings, other two day job and family income I think I can manage but my ethic has always been to work and save and the thought of using up my approx £30,000 savings is very frightening.
My only extravagance is travel but I do that as cheaply as possible. I run a car as I visit dad every second weekend. Am I in cloud cuckoo land or should I just do it?

TwiceAsNice Wed 13-Jul-22 12:18:01

Just do it. I stayed too long in a job I hated and calculated that leaving early with a reduced private pension would not make a massive difference to my monthly income and am so glad I did. I didn’t realise how stressed I’d been until I left. Life is too short to be so miserable

martinthebandit Wed 13-Jul-22 12:25:36

Life is too short to spend much time doing things you hate unless you have a very good reason, you don’t seem to have that so, yes jump and jump quickly.

Septimia Wed 13-Jul-22 12:30:28

If you know you can manage financially, I'd say do it.

Who knows, another, nicer job opportunity might come up - even an extra day working for your friend.

Otherwise, enjoy the time and the lack of hassle.

Mine Wed 13-Jul-22 12:35:27

Take the Jump SUE EH....You'll be glad you did in the long run...I retired at 61 with only work pension and small lump sum...Hubby did the same....We cream off our savings but its so worth it...Life is so good and to see my hubby stress free from his old job says it all...Good luck to you

welbeck Wed 13-Jul-22 12:38:23

why don't you go and work for another supermarket.
what have you got to lose.
research a few, from employees' forums etc, or other retail jobs. many jobs are available.
don't stick somewhere horrible.
oh, remember when going for another job, don't say anything against the present employer or situation. say you need a different location, hours, a new challenge blah blah.
good luck.

welbeck Wed 13-Jul-22 12:39:59

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LondonMzFitz Wed 13-Jul-22 12:45:11

I'm in a similar boat but without the potential inheritance, however - Sue - it would be dangerous to factor that in as a definite as things happen ... specialist care etc. My elderly neighbour is in a home that's something like £2,500 per week - his Accountant / money savvy son has taken out an insurance policy to ensure cover of future bills should his money run out - and that policy was eye wateringly expensive.

I'm horribly frustrated with my employers (been with the company 13 years). No pay rise for the last 3 years. I feel so disrespected and unappreciated .. Tiny private pension, G'ment pension in 2.5 years. I have some savings that would see me through to 66 although the energy price rises are a proper worry.

My best friend died in February this year at age 62 (not Covid), a year younger than me. I feel I'm letting life pass me by ... but I don't know if I'm brave enough to jump. I'll be watching this thread with interest.

2420mags Wed 13-Jul-22 12:51:50

l would never count my chickens before they hatch as far as inheritance is concerned. My MIL is paying £5500 a month for her care home. It is nothing exceptional and she moved there last month at the age of 103 having lived at home but is starting to dement. With company and regular food and drink she looks like she will go some years yet.

VB000 Wed 13-Jul-22 12:57:33

Hi - agree with all the comments here. I would definitely look at another job, or retiring early. Life is just too short!

I'm slightly younger than you, still working, but if I wanted to retire early, I would use my private pensions to live on, until the SP and/or inheritance kicks in.

Doodledog Wed 13-Jul-22 13:06:41

Another vote for just doing it.

I left work at 58, and have never regretted it. You sound financially stable, and in any case you may find that you spend a lot less not going to work.

SueEH Wed 13-Jul-22 13:26:15

Just confirming that whilst a large inheritance would be great I am by no means counting on it. I have already inherited half of dad’s house from mum who died before Christmas and can downsize my own so will have a cushion at some point even if dad does need long term care.
I think it’s case of putting my conservative (with a small c) ethics to one side and making the decision to get on with life. I have always planned on volunteering with The Samaritans so maybe I just need to do it!

saltnshake Wed 13-Jul-22 13:37:54

Before you jump just check what your state pension will be. The number of years required to qualify has altered and some people might be in for a shock, some pleasant, some nasty. I hope you get a pleasant surprise.

SueEH Wed 13-Jul-22 13:42:01

saltnshake

Before you jump just check what your state pension will be. The number of years required to qualify has altered and some people might be in for a shock, some pleasant, some nasty. I hope you get a pleasant surprise.

Thank you for your advice. I have already checked and I will qualify for the whole state pension.

Zonne Wed 13-Jul-22 13:46:54

I think it’s worth doing, and if you find you need a little extra income, or would, after all, prefer to work more days, you can find another, more suitable job.

eazybee Wed 13-Jul-22 13:57:39

I would look for another part-time job until your state pension kicks in, and count only on your own savings; don't rely on any expected inheritance. My parents were financially prudent, both saved, owned their house, but all their money was swallowed up in care home fees, because I didn't live close enough to help with day to day care and was working full-time.
You love one job; see if you can find another you enjoy for a few more years is my advice. I worked until 65, and don't regret it; now I enjoy enjoy my retirement.

Jaxjacky Wed 13-Jul-22 13:59:17

Just do it, take up the voluntary work and see how you are after a few months. If by Christmas you need p/t work, there’s bound to be some. Good luck.

nandad Wed 13-Jul-22 14:29:47

SueEH, I was in a similar position 18 months ago but with only 1 job. I had returned from sick leave just at the start of lockdown and was bullied by my head of service. I stood it for nearly a year then decided I’d had enough and that I didn’t need to work financially. I have worked since I was 16 and was more than capable of working still so it didn’t sit right that I should just pack my job in. Friends told me life was too short, that I could get voluntary work, and because my husband (13 years older than me) had retired we would do all sorts of things together and go away whenever we fancied etc etc. For me the reality has been different. I miss the discipline of work, but you will still be working for your friend; a lot of voluntary work around here is either in a charity shop or befriending over the phone, neither of which appealed; my husband won’t plan any days or breaks, it’s up to me to come up with ideas all the time and it gets a little wearing. I am bored BUT I’m a lot happier and laid back and the issues I have, I have control over.
Pack in the job you hate with a clear conscience. Give yourself time to decide what you want to do, whether it’s paid or voluntary. I’ve found that I spend less although I go out more because I might meet friends for a walk or a coffee rather than a meal.
Good luck.

Farzanah Wed 13-Jul-22 14:36:20

Good advice to pack your hated job in and have a month off. Decide whether to get another job after you’ve had a break.

Elizabeth27 Wed 13-Jul-22 15:12:50

leave, you can always go back if necessary.

Sandytoes Wed 13-Jul-22 18:37:33

We chose to retire early, last year . ( see "can you manage on a state pension thread" ) . We had lots of opinions , both for and against but took the plunge and have never regretted it . If you are not factoring in your potential inheritance then I would say go for it! . We tried living on the amount we now have for q while before we retired and although life has become more expensive we manage perfectly well . I do work about 5 hours per week for an agency which covers the extra and if necessary you could go back to work for a few extra hours .

Jane43 Wed 13-Jul-22 18:56:26

There are lots of other vacancies in retail, perhaps you might enjoy working for another company. As I walk round our local shopping centre there are vacancy notices in many of the stores. So why not leave the supermarket job and try another retail job, if that doesn’t work out then consider retiring.

Shoshana Wed 13-Jul-22 22:12:01

Life's definitely too short to stay in a job you hate, and it sounds like you could manage without that income (even putting aside the potential inheritance).

As others have said though, there's nothing to stop you looking for something else instead.

All the best with it, whatever you decide.

Nannagarra Wed 13-Jul-22 23:16:30

If you can afford to jump, do it n o w. You’ll skip with joy, I promise you. I haven’t regretted it once.

BlueBalou Thu 14-Jul-22 06:08:20

I haven’t regretted doing so for one second! I was 3 years off my state pension but had a small private one and a small nhs one to live on. It’s been fine.
Life’s far too short to spend on a job you don’t enjoy!
Go for it ?