Career Change

ExRabbit

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You've been working in the city in the finance sector for 33 years. If you haven't managed to stash away enough to retire by now, you must have been doing something wrong.
I'm pretty sure he just asked for help on a new career and never mentioned his current financial situation with regard to whether he could just retire or not.

I don't get your point at all.
 

PhilTheFragger

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I'm pretty sure he just asked for help on a new career and never mentioned his current financial situation with regard to whether he could just retire or not.

I don't get your point at all.
Well his current financial position will have a direct bearing on what he does next. , see my earlier post.

Dependent Kids, uni, mortgage etc will all be things to consider when looking at options as it’s the difference between doing something you want to do v doing what you have to do.

At 57 I found myself out of work after 20 years of being self employed due to my customer base evaporating when I was unable to work for 3 months due to surgery.
I was also back living with my 80 year old Mum after 31 years of marriage, no savings, decent pension pot, which I didn’t want to touch.

Landed an admin job in Aylesbury, on a small margin above minimum wage, met a new lady and started again.

Now 4 years later all is good, so it can be done
 

Voyager EMH

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What I'm about to say is of little use to your need for a change of direction right now, but...

Now that I am retired, although a few years to go to before state pension kicks in, I think too many of us invest too much in our jobs.
Do I enjoy it? Does it give me a sense of importance? etc.

We earn money.
That's all.
Then we retire.
Jobs are unimportant compared with family.

I had a major career change in my 40s. Loads of uncertainty at the time to deal with. Part time work and evening classes to get adult- teaching qualification, but glad I did it.
Working in a prison was very different from the commercial world.
Gave me a better outlook on the important things in life.
 

cliveb

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I'm pretty sure he just asked for help on a new career and never mentioned his current financial situation with regard to whether he could just retire or not.

I don't get your point at all.
It was intended as a somewhat light hearted remark.

But hidden there is the message that if you afford to retire, just do it.
I was able retire at 57 (not rich, but comfortable) and it's the best thing I did.
 

need_my_wedge

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Just had a similar experience. I relocated to Scotland at the end of January and two weeks after moving was made redundant at 58.

I’ve worked in IT for 42 years, and for the same software company for the last 23 years. I was pretty burnt out work wise, not enjoying my job, and was pretty much hanging in there for retirement.

The redundancy put paid to that, got a small payoff all statutory but not a lot. The saving grace was the move, the mortgage here is about 15% of what I had down south, which meant that I didn’t have to try and find a similarly paid job, lucky for me.

I now work at a golf course in the golf operations team, it’s seasonal and minimum wage, but i pretty much go home with a line drawn on the day and nothing to carry over for tomorrow. Every day is different, work with a good bunch of guys and am enjoying being out in the sunshine all day. Instead of sitting at s desk all day my step count is up to between 13K - 18K a day, beer belly is a lot trimmer, weight dropped a bit, tanned and pretty much always in a good mood. Wife is loving the new me, as am I.

No idea what I’m going to do in October when the course closes, but I’ll deal with that then.

The gist of it being that I have changed my “career” in a big way. Yes it was forced on me rather than by choice and yes it affects money, but it has been more positive for my general well being, am currently loving my Fife life.
 

Crazyface

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Jack it in immediately and get a job in a supermarket. They're all pretty useless but if you find one with fun staff it's a great place to finish your career with. Plus 10% off food!!!
 

stefanovic

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My skills are purely corporate garbage stuff - I can do word, excel and officey stuff but so can millions of others
I can recommend books by John Parkin, who was once in a similar position to yourself, burnt-out in the city.

And no, you don't want to do Word and Excel.
 

Jasonr

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Thanks for the replies all and lots to think about.

The plan was for me to retire around 55-60, downsize house move out of the south east to somewhere clean, green & friendly. Only between 4-9 years but the way the work is at the moment and the amount of stress and pressure they put on you for the company's exponential growth targets is just quite frankly disgusting. I want to make sure I actually get there and have a few years after to enjoy it.

I suppose it's toilet syndrome when you are desperate the closer you get to it the more you need to go!
 

need_my_wedge

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Thanks for the replies all and lots to think about.

The plan was for me to retire around 55-60, downsize house move out of the south east to somewhere clean, green & friendly. Only between 4-9 years but the way the work is at the moment and the amount of stress and pressure they put on you for the company's exponential growth targets is just quite frankly disgusting. I want to make sure I actually get there and have a few years after to enjoy it.

I suppose it's toilet syndrome when you are desperate the closer you get to it the more you need to go!

I moved from the South to Scotland. Thought I’d down size but actually ended up upsizing for half the price. Thoroughly recommend life up here in Fife.
 

cliveb

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Thanks for the replies all and lots to think about.

The plan was for me to retire around 55-60, downsize house move out of the south east to somewhere clean, green & friendly. Only between 4-9 years but the way the work is at the moment and the amount of stress and pressure they put on you for the company's exponential growth targets is just quite frankly disgusting. I want to make sure I actually get there and have a few years after to enjoy it.

I suppose it's toilet syndrome when you are desperate the closer you get to it the more you need to go!
Similar thing happened to me and my wife 8 years ago. We were both stressed out to the max, so we analysed our pension pots and asked "why are we still working?"
We visited an IFA with our spreadsheet (which predicted we'd run out of money when I was 99) and asked him to sanity check it and confirm we weren't deluding ourselves.

I then spent the next 9 months covertly trying to get my boss to make me redundant, but he wasn't biting, so I just had to quit in the end.
For sure, the fact I could start drawing a pension at 55 helped - which is not an option for you just yet.

But my advice is - if you can afford to retire, just do it! Play twice as much golf and enjoy life while you're still young enough.
 
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