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Legal, pensions and money

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

(33 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?

fiorentina51 Thu 14-Jul-22 07:39:15

I retired at 60 back in 2011. I had a small teacher's pension as I had only been in the profession for 14 years. My husband had been made redundant the year before, 18 months short of him reaching state pension age.
We did our sums and felt we could get by. We were used to living carefully in the past so it wasn't much of a struggle for the year or so before our state pensions kicked in.

I'm so glad we took the plunge. Within weeks of my retirement, the first of a whole series of family issues cropped up which we had to sort out.
Close relatives falling seriously ill, caring for them, bereavements, care homes etc.
In between there were times of calm and DH and I had some good times.
We got involved in various volunteering opportunities and made many new friends.
Through one of my voluntary jobs I was offered a temporary part time post running the education provision at our local museum.
Through another, I was asked to join a team in planning the proposed future of leisure and education facilities in the nearby forest.
I'm 71 now and my husband has recently died.
I am so glad I decided to retire when I did.
Doing so opened many new opportunities for both of us.

I wish you well with whatever you decide to do.
Good luck!

Farzanah Thu 14-Jul-22 09:35:53

Sad that your husband has died, but what a good decision you made about retiring when you did.
None of us know what’s round the corner, and I think many who took the decision to retire earlier than they could have do not regret it. I certainly don’t.

dogsmother Thu 14-Jul-22 09:45:26

I did, glad to be gone, however also very pleased to be involved with something as too young to be at home ……
Do make sure you have enough for yourself outside to keep you occupied, as has been said some become bored. There is a whole world out there of things going on and I’m sure you can enjoy a lot of them.

LondonMzFitz Fri 15-Jul-22 12:55:55

I quit Tuesday afternoon giving 6 weeks notice.

Offered a mahoosive pay rise. 26.5%. Astonished. And somewhat annoyed that they now realise I've been underpaid all this time. Also, and probably unsurprisingly, still working for a bit longer!

Doodledog Fri 15-Jul-22 18:07:00

Congratulations grin. You've played a blinder there!

Maybe you could put some of the pay rise into your pension fund to make the decision a bit easier when the time comes.

LondonMzFitz Fri 15-Jul-22 22:54:24

Thanks D-dog. My head hurts from my jaw hitting the floor when I read their email.

I'm staggered and stunned and still quite cross I've had to quit to get my role recognised as actually blooming important!

Shoshana Sat 16-Jul-22 07:23:18

Congratulations on the pay rise, but I can see why you'd also be cross with them!

I hope the extra money helps, and tucking away some of it as Doodledog has suggested is good advice.