Have you retired or left the workforce early or are you considering it? We’d like to hear about your experience

I also took early retirement some years ago, at 54. The financial disadvantages were offset by the fact that we downsized to a house at half the value of our previous home and I have no regrets.
I am in the cohort of female pensioners who received their pension later than expected and I appreciate that for many people early retirement would not have been financially possible. However for me it was such a relief to leave my exhausting job that I would have done it anyway.

I was fortunate to retire in Sept age 63. I wouldn’t go back for all the tea in China. I didn’t realise how hard my job was when I was doing it. I’ve had two major operations since then so don’t feel like my retirement has really started yet.

I was just about to add a comment but this thread is over 3 years old.

I retired 8 years ago at 59 from a job in education for the local authority. Long story short, I was moved back to my substantive role after a 4 year secondment and in the process lost several thousands a year in salary. My substantive role had changed significantly in the time I was away because of government legislation and the job no longer suited my long held principles. I took my pension a year early and supplemented my income through library work, election support and exam invigilation. I was lucky I didn't have a mortgage or dependents so I could get by on a much reduced income. I had enough and once I reached 60 there were some financial perks. Then I met my (now) husband and we shared expenses. That made a huge difference and now that I have my state pension I have more than enough money to live on, meet bills, run a car and have lovely holidays. I'm 67 now - what a lucky generation I was born into - I was even able to donate my winter fuel payment to AgeUK. The other thing I would say is if retiring early, make sure that you have plenty to occupy your time. Apart from my husband's 6 kids and 5 grandkids we play badminton, volunteer with 2 charities, act in local amdram, and are active in several U3A groups. It's a busy and rewarding life with a lot of new friends.

And I thought this thread had ‘retired’ 😀

Reported last post

I gave up work early to look after both of my parents in extreme old age to stop them going into a home and preserving the little we had of a good life together. I lost out 20% on pension and my father provided for me from his pension: i.e. dentist, hairdresser, pocket money etc. It kept them out of the system till the last few weeks of their lives when they needed professional nursing which they paid for privately. I got the full inheritance of a house and savings.

I buck the trend here. Aged 79 i am reluctantly retiring this month from a job i love (32 years in Social Services).
I would gladly work until i die but my body has other ideas.

I think one of the biggest changes since the pandemic is that people have started looking at work and the rest of their lives differently. For some, it’s not necessarily that they don’t want to work anymore, but that the balance no longer seems worth it.

Personally, I can understand why someone in their 50s might choose to leave earlier if they have enough savings or other income to manage. After decades of working, having more control over your time can be worth a lot. At the same time, I think the financial side is the biggest concern - particularly with the state pension still some years away.

I’d probably be more tempted to return to work if it were part-time or flexible rather than going straight back to a full-time job. Having the option to work fewer hours without losing most of the benefits of being retired would make a big difference for many people.

I also think the social side of not working is easy to overlook. Work provides routine and regular contact with other people, so leaving the workforce can be a bigger adjustment than simply having more free time.

I’m not sure why my post was reported and glad to see commonsense prevailed! Reporting fever is not a good look.