Would you retire at 50 if you could ?

[DulwichFox]

Now that is funny R.D. I have never 'contrived' to be popular..

I speak my mind and if people dont like honesty then so be it..

Foxy.

[womanofdulwich]

I dont think this society of ours would work if there were not a set of people over 50 who had been made redundant and still had active and able minds who run around after elderly parents and grandchildren,volunteer and run various charities and offer their time to help others ( their own choice). This set of people - and dare I say particularly women- are often cast off by commercial companies.IMO.

[????]

Retire from 'corporate life' if I had the means yes but plenty of more lifestyle jobs to keep you ticking over and a bit of spare cash. I was self-employed for quite a few years before I set up a company with some others likewise and liked the flexibility and relative freedom that gave me

If he's got kids, and been used to a high income and with life expectancy he must have a hell of a pension pot and mortgage paid off?

55 was definitely on my horizon when I was 40 and had just sold my company and had bugger all mortgage on a peachy warehouse flat - but then my first kid came along unexpected and then 2 more planned so plans changed, house needed, so now suspect I'll still be at the toil at 65+! I did have 2 years voluntary out of work in my 40s - one travelling the other with my first kid and a bit of time living in Spain not working. So ok with work at the moment and just piling as much cash as I can into my pension.

[*Bob*]

So, Mick, the question you're asking - if you owned your own giant home, mortgage-free, had a huge sack of cash from a redundancy payout and a gargantuan pension: would you consider 'not' dragging yourself out of bed at 6.45am, trudging into work and spending two thirds of your waking life trying to please someone else in order to maintain your place on a corporate treadmill surrounded by people you would probably avoid in a pub?

Let me just think about that one for a while.

[Jeremy]

Like Quidditch says... any opportunity to escape the tedium of the corporate environment would be most welcome, but I would certainly want something else to give me goals, and to replace the (occasional) satisfaction which comes from working on something and doing it well. And earn a bit of cash so I wasn't always feeling like I was blowing my savings.

But as it is... will probably be paying off the mortgage until I'm 60 (even later than that if we ever want to upsize house or move somewhere with better schools).

[Mick Mac]

Obvious way of putting it Bob - but there are a number of people here at my work over 5O - who in my own opinion have enough money to comfortably retire but continue to push themselves - that's probably why they earned so much money in the first place.

I'm not sure if its just wanting that little bit more, or whether they have big brains, are competitive and love the daily interaction on technical issues. I'm talking lawyers here.

I understand that's not going to be the case if your job becomes unrewarding and mundane, which I think influenced my mate's decision.

I think also once its done its done, there is no coming back to high level employment once you have stepped away. so its final.

[*Bob*]

Work's a great place to hide from home life as well, hides the cracks. Some of them are probably a little afraid of what 'too much quality time' might mean.

(apparently, not that I've ever had a job as such, obvs).

[Mick Mac]

True. and if you don't have anything otherwise to achieve in a day, work will provide something.

As Jah says you need an imagination. But if you don't have one, work thinks for you.

[Jules-and-Boo]

I think the question should be re-phrased.

If you could do anything, would you do what you are currently doing?

If you didn't need money, how would you spend your time that would give purpose to your life?

If the answer is that you do not require a sense of purpose to be fulfilled, then that's easy.

Otherwise, what would you apply your time to? What would give you most satisfaction?

[malumbu]

I almost did but things conspired against me. I had a part time job (sociable but not overly-intellectual) lined up and was already planning to do voluntary work. The additional ?36k that it now takes for my kids' tuition fees would have hurt and the early pension and other sources of money would have meant being more careful.

I detest the competitive work place and the ageism I see. And long hours. As a child I thought by now we'd all be retiring at 50. Yet my younger colleagues will go on to 67 and beyond.

[P.O.U.S.theWonderCat]

My mum still works at 70. I suspect I will too, willingly. I enjoy working.

[Mick Mac]

malumbu Wrote:

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As a child I thought by

> now we'd all be retiring at 50. Yet my younger

> colleagues will go on to 67 and beyond.

It was a commonly held view but actually it's a strange idea - There will never be enough money for everyone to have enough whilst doing very little for others.

That's because money is a means of putting a value on what you can offer to someone else and by definition there needs to be barter and an ongoing supply of valuable goods and services.

[LondonMix]

Not exactly. It depends on what we think we need. Over the last century or two, productivity gains have been massive. As human beings, we've used these gains to theoretically improve our material quality of life and buy more leisure. The material aspect has dominated but weekends, paid vacations, (early) retirement all represent choosing to buy leisure as a society with our increased productivity.

Mick Mac Wrote:

-------------------------------------------------------

> malumbu Wrote:

> --------------------------------------------------

> -----

> As a child I thought by

> > now we'd all be retiring at 50. Yet my younger

> > colleagues will go on to 67 and beyond.

>

> It was a commonly held view but actually it's a

> strange idea - There will never be enough money

> for everyone to have enough whilst doing very

> little for others.

>

> That's because money is a means of putting a value

> on what you can offer to someone else and by

> definition there needs to be barter and an ongoing

> supply of valuable goods and services.

[siousxiesue]

YESYESYES!

Kind of did already, took redundancy but with an immediate start of volunteer job to keep my hand in, so to speak. Also did classes, got fitter, got a dog!

Now I choose to work and I've decided to, part time. No pressure to do so, just my wish to rejoin the world of work.

[malumbu]

Bit confused here. The working got progressively shorter since the industrial revolution but it has now reversed. I didn't expect it to reduce by much but thought that there would be the odd hour say every ten years.

I now have colleagues in before me and leaving after - and I do a full day and a bit. Most don't take their lunches.

There surely is a quality of life issue here.

No issues if people want to work into their 70s. I still hope the be active. Where I volunteer I am the youngest.

[Jeremy]

malumbu Wrote:

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> No issues if people want to work into their 70s.

> I still hope the be active.

Yeah but some people will HAVE to work. Maybe even most of us! Commuting can be tiring... not everyone lives in zone 2, a 10 min walk from the station, etc. It's a worrying prospect IMO.

[Help-Ma-Boab]

Zilch so far. Friday is the biggie. I'll keep you posted.

[Loz]

malumbu Wrote:

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> As a child I thought by now we'd all be retiring at 50. Yet my younger

> colleagues will go on to 67 and beyond.

The problem is that life expectancy has got much longer. When they set the retirement age (for men) at 65, life expectancy was 68. It's now into the 80s and still rising.

[Pugwash]

I am retiring next month - 6 years after reaching state pension age. If it was not for my arthritis which affects my walking and standing ( which are part of my job) I would stay on as I love my work. Every week my boss asks me if I had changed my mind and wants me to stay, I have compromised and stated that I will join a professional agency and if the team needed short term or part time workers I would come back as a temp.

However I have already signed up for a short term university course which will allow me to branch into the more academic and teaching side of my profession which will keep my mind active.

[Help-Ma-Boab]

?13.60 winning gs from last night. Just today's ticket to go. Not looking likely.

[pato]

so for instance..how much would you need to get retired?

let s take a single person as easier..

would you retire (and maybe move out of london) if you had an income of ?1200..?

how much would you need to retire?

[DovertheRoad]

I can't think of anything worse than retirement. I suspect I'll always want to do some project or another. But if I was working in some soulless job for somebody else I'd be wanting out sharpish.