Retire or not? - YouLookFab Forum

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Retire or not?

jenanded

Veteran

I have seen a number of fabbers talking about retiring and how much fun they are having. I never thought I would leave work but boredom at work is turning into a general desire to do things I want to do instead of being micromanaged etc etc. I am only early 50s and I have recently agreed to a 5 year scondment at my workplace. It provides a kind of marker for what to achieve and to think about what else I would do. I have always worked full time even with 3 little kids, studying 4 degrees etc etc so moving to consulting or project work seems quite appealing. I could pick and choose projects, travel, enjoy friends family and hobbies. It also gives me time to set things up for the type of projects I want to do.

I would be interested to hear how anyone else has gone about this? Its all quite exciting really.

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15 replies

Latest reply was from Helen11

Anonymous

How exciting! If you enjoy retirement even half as much as I do, you'll be very happy. The best part for me is having control over how I spend my time.

I think it's all about the finances. If your retirement funds are in good shape, make the leap. If you're going to worry about an income stream, it might be wise to delay it a bit, because stressing out over money isn't how you want to spend your time.

I retired about 2 years ago, but most of my friends still work, and several of them are with non-profits that have volunteer programs I've gotten involved with. This has been very enjoyable for me. My partner is still employed, and I often help him with his projects, as well. I'm your basic introvert and don't need to be around people a whole lot, but I would imagine an extrovert would need to be more proactive about social activities than I am.

Retirement has been not so retiring for me, but I feel much happier with how I'm spending my days. I hope your plans work out, and that you'll keep us posted. Good luck!

Nebraskim

Veteran

I agree that it has to revolve around finances and if you can financially swing it, becoming a consultant can be fun and emotionally (and occasionally financially) rewarding. Not sure where you live, but the ability to be able to purchase health insurance was a critical thing for me; if there was no ACA, I'd be forced to find a job that offered insurance. In fact, when I was RIFfed from my university job in 2012, finding a different job within the university for 2 years helped bridge that. I was paid about 2/3 of what I was making before, but I did have insurance.

You may want to see if there is enough business in your field to support yourself as a consultant and test the waters before taking the big plunge. I have been lucky enough to pick up quite a bit of work from my university (which is far more willing to pay me on a per-project basis than on a full-time basis.) I also am able to spend more time volunteering and working out.

Many people my age (60) also enjoy the freedom to travel but I am not one of them. I do not enjoy traveling.

My one advice is to have some semblance of a plan for when you stop working for someone else. If you don't have a plan, you may find yourself drifting and anxious, which is what is happening to a friend who was sort of forced into retiring before she wished to (she is 66 and was caught off-guard by a companywide RIF that seemed to only target people over the age of 55.....) She has no financial worries but she is feeling kind of "useless."

Cins

I agree one should likely have an idea of what they want to do and of course the finances to retire. I was severed less than a month ago, at 61, actually hoping for it, since my job had taken as our turn for the past few years. Now I am looking to pick up project work and possibly volunteer. I feel a great weight has been lifted and also love the freedom to do what I want when I want. I am fortunate that my husband is still working, although he has expressed envy and a desire to retire too! More time to exercise and not spend time at a desk is wonderful too. You are young, at 50, but it sounds like you aren't looking at full retirement, but an easing into it? That's how I feel now.

deb

Veteran

I retired in January and the vacation feel is starting to wear off. I am now looking for some type of project work because I am not the type to really retire, lol.

MsMary

Veteran

I agree that it's largely about the finances. My first priority is making sure I have enough money to do what I want to do in retirement. After my divorce I thought that would mean working until I was 70, but now that I'm getting married I have more options.

Lovely Fiancé is about to renew his office lease for five more years, so that gives us a good amount of time to figure out what we want to do in retirement. I may retire then or go two more years, which would put me at age 65.

We do have some vague plans: Travel, definitely. We are both very involved in our local Rotary Club and one or both of us may want to be president of the club for a year once we retire. We are also toying with the idea of writing a book together, perhaps in collaboration with my son.

I feel like it's important to stay active whether one is working or not. Lovely Fiance always says "use it or lose it!"

Style Fan

Veteran

I have been retired for 4 almost 5 years. I was 56 years when I retired. DH has been retired for 7 years. Finances are important. That needs to be in order.
I have done small amounts of work. I teach part time at the University where I worked. I enjoy doing this and I would do more but I now live 3 hours away so I only take on short courses.
I loved my work. I still miss it. The organizational politics were very stressful. I do not miss that.
I like having control over my time. I like travelling and doing lots of Yoga. I want to take Yoga teacher training one day. I am not sure I will actually teach Yoga but I would do it for my own development. I can now explore different things for myself. I would never be able to do this if I was working. I can go to visit a friend on a Tuesday for the day. This is a luxury. When I was working I had very little time to myself.

jenanded

Veteran

Some very wise insights here and important food for thought. I think I am too young to leave with nothing to go to after 30+ years in very exciting jobs but I am keen to be in more control.

Funnily enough I have been called to a meeting tomorrow to be offered a very exciting portfolio... BUT I was passed over for a high profile job last year and this important portfolio is part of what the guy who got the job is obviously incompetent to do. I am furious and insulted that I would be expected to mop up his mess while he keeps the high profile role... especially when I was told that I didn't put myself forward like women often do. Anyhow this is a deal breaker for me and my husband supports me that I would resign if it came to that. Perhaps a new phase is coming anyhow....
xx

Helen11

Veteran

Does your field lend itself to part time work as a transition period? Maybe fewer days in the office, with the time to have other projects on the go from home?
Sounds exciting to be looking to a new stage of life.

unfrumped

Veteran

I have recentlly been making some changes and have enjoyed general googling about transitions, breaks, sabbaticals, leaving on a positive note, starting new jobs on a positive note, finding new career options, and all kinds of related topics, some less related immediately, but helps one sort through a lot of ideas and emotions.

Thirkellgirl

Veteran

Jenanded, good for you. That sort of thing happens much too often. I'll be interested to hear how the meeting goes and what happens.

cjh

(website)

Veteran

I know exactly the situation of doing the job of someone hired instead of you but not even qualified (and who has not learned much in the past 7 years), and it does add a good amount of stress and even MORE to the actual workload. There have been many days when anger and resentment have almost forced me to walk out. I am fortunate in that I do have a supervisory role and the people I supervise recognize the situation for what it is. My desire to do a good job and do things right (in public administration) as well as the people working here, very interesting and challenging work, and a cycle which gives some breaks in between intense times have kept me here this long.

So, no advice because in the end we must each reach our own conclusions, but you have my huge sympathies.

However there comes a certain point of burn out or wish to be doing something else (traveling a little, quilting, helping homeschool my grandchildren, hiking and drinking coffee with my already-retired DH), and since the finances will work for me, I won't stay much longer. I'll be 62 in a few months... can't wait.

P.S. I've read a lot of "enjoying retirement" blogs and that has helped me focus on the decision and what a retired life can be like.

Debbie

Veteran

I am so glad you brought this up. I will be 62 in a few months and my husband has been totally retired for a couple of years now. I have always said I wouldn't retire for a long time until lately. We were out with several other couples a few weeks ago who are all retired and some one asked when I was going to retire. I said I have been considering it. My husband is thrilled. I am on the fence I don't want to give up working totally but I don't want to do office politics anymore either.
It is an interesting time in our lives.

jenanded

Veteran

Oh what wonderful wonderful people you all are. I love you all for being so caring.

The meeting was pretty much as expected and framed as this wonderful strategic opportunity. I honestly have rarely been so angry but I just relatively calmly stood my ground that this was an absolute insult to me as a professional and the conversation is to be continued. Alas today everyone was so busy that this did not happen. I choose not to spoil the weekend with this but I feel like I have given up my autonomy, my chance of promotion etc etc.

I haven't slept for 2 nights being so upset so that is my first priority then I will try and be more calm and strategic. I have 2 big international trips in the next few months so won't be in the office too much. I will also be trying to rekindle my international linkages which have all fallen away since my Mardi had her accident. Anyhow perhaps this is all part of the seismic shift of our lives since then...

End position is I am not ready to give up work entirely but maybe about reinventing a new type of job.... xx

unfrumped

Veteran

Empathizing here, though not much help.

I always am so tempted to "say what I think" and have to really monitor that and sometimes practice responses .

It has taken me awhile to learn how to say all those good "holding" phrases that don't commit you but don't get you into trouble, things like, "oh, that's very interesting ( I can feel sincere there because obnoxious ideas ARE quite interesting in their own way!); that's really something to think about; do let me consider it."

I still do a lot of saying what I think if it involves others--patients, trainees--for whom my role is advocate.

Helen11

Veteran

Reinventing a new type of job.....maybe you'll get some good thinking time when you travel soon. Enjoy making those international links again. I haven't been on YLF that long so I don't know about all those other changes with your family. Good luck with the next steps you take. And remember the kind and generous women here to share their wisdom with you.