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Retiring? What age for an international teacher?

Discussion in 'Teaching overseas' started by maja, Jul 29, 2011.

  1. http://www.channel4.com/news/teachers-suicide-rates-double-in-a-year
    Copied from the English forum
    According to this, older teachers in the UK are more prone to commit suicide due to the stress of work. This may also be due to the ever-rising retirment age.
    So, apart from comments on the horrific system we all opted to escape, my question is 'at what age do YOU hope to/did you retire?' What will you do then/do you do now?
    For me, in about another 15 years I shall retire to the wilds of South Africa (home sweet home) and work in rural schools or set up my own rural school in a disadvantaged area. Yes, I am aware this isn't a real retirement but I cannot imagine ever not teaching.
     
  2. [​IMG]
    In my defence the title of the thread is "Retiring? What age for an international teacher?" and I was wondering what age Maja was intending to retire at.
    Ok - I admit it - I was being nosey and purposefully irritating.
     
  3. bigfatgit

    bigfatgit New commenter

    You're still an uncouth c@@@! [​IMG]
     
  4. stopwatch

    stopwatch Established commenter

    I guess the answer is partly related to what you feel you need in retirement.
    I think the main elements for many/most pootential expat retirees are:
    • Whether you plan to retire in UK or overseas - particularly regards health provision (can you afford private health care outside UK if necessary?)
    • How much/what pension you have built up
    • Whether you own a property outright/have small mortgage
    • How much 'excess' savings you have
    For me I plan to retire in UK. I have 21 years UK teachers pension from before I moved overseas which I am assuming I will not build on once i get back. Because of this I would like to have a house with no mortgage and additional savings of around £20k before I move back. I could potentially do this next year or the year after.
    So in answer to your question:
    • Semi retire at 56
    • Fully retire when I feel I have had enough which I anticipate could be anywhere between 60 and 65
     
  5. stopwatch

    stopwatch Established commenter

    With regards to the news article, I am pretty sure that, if I had stayed in the Uk job I had prior to moving overseas I would have gone doolally (though not committed suicide).
    However, I think there can be just as much stress working in overseas schools because of being away from home/pressure from parents and SMT to ensure high standards of perfomance/mismanagement and bullying by SMT and Headteachers.
    I probably have just as much stress as I had in the UK school I worked at. It is just a different type of stress caused by long hours, high workload and constantly high expectations from both SMT and parents.
     
  6. Hoping to retire at 63. Got 20ish years to go. The last few years have not been financially fruitful, so have some ground to make up, but I have a pension of a few thousand from a previous job, so have a good base to build on. Our priority is to buy a buy-to-let in the next couple years, so at least the post-retirement accommodation is taken care of.
    Robbie, how have you only managed to accumulate 4 grand in five years in Cairo? Sorry, just being nosey.
     
  7. I send a fair proportion of money to various family members in the UK - actually hardly spend a penny on myself - it is pretty easy not to spend too much here in Cairo once you're used to what prices you should pay and where is best to shop.
     
  8. lovely.lady

    lovely.lady Occasional commenter

    Plan to keep going overseas until 65 - will have my UK mortgage paid off by the time I reach 50 so will be sitting on a house worth approx £400K (currently worth £300K in this downturn market). I have a very small teachers pension but intend to spend remaining 15 years building up savings - would like to save at least £1500 per month for 10 years, fingers crossed! Will not retire to the UK but to Italy or France instead - buy a property outright from the sale of the UK house then bank the rest!

    That's the plan whether it willl work is anyones guess!
     
  9. stopwatch

    stopwatch Established commenter

    How did you manage to pay off the mortgage on a 300k house by 50?
    Where do you work?
     
  10. Current value, Stoppers. Lovely.lady probably bought the house in the 70s when it was worth a few grand. She's no spring chicken.
    [​IMG]

     
  11. cityfree

    cityfree New commenter

    I'm aiming for 55. I am starting on the international circuit at an early-ish age. I've opted out of the TPS as I don't plan to come back to the UK and if I do, then I don't plan to pay into the fund. Going down the property investment route. Of course...the plan may not be so fruitful as I hope but it is worth aiming for. Even better if I could do it at 50!
     
  12. As BFG can attest, I am not a lady so I have no objection to, nor irritation at, the question. I plan to retire between the ages of 50 and 55.
     
  13. bigfatgit

    bigfatgit New commenter

    What can I say? I'll have to give up the tequila [​IMG]
     
  14. Yes, you mentioned being South African on another post. [​IMG]
    I am like/unlike Robby. I have saved a bit more than him and hope to be comfortable with properties and a bit of saving. However, I do not see an end to work, whatever that is. I have ex-teaching sisters that have retired, very early, and on super pensions. And I am sooo jelaous. They both work in charity shops and one does a little supply (not for spons, I assure you) to keep themselves busy.
    I hope they still have those jobs for old blokes that hand you a shopping basket when I'm 74.
    I quite like the idea of finding several people in exactly the same position as me, pooling our resources and living modestly, but 'partyingly' in a sort of octogenarian frat house. As we peg it one at a time, there would be a waiting list, of course, we can keep the rooms full and the party going.
    Anyone else like this idea?



     
  15. I thought that was the ACE club.
     
  16. Doesn't smell of stale piss..
    ..enough
     
  17. lovely.lady

    lovely.lady Occasional commenter

    Past tense? You are assuming that I'm already 50 - well I'm not!
    Cheeky monkey! I am a spring chicken - age is but a number after ones name!

    For your information I bought the house 11 years ago for £145,000 and the mortgage will be paid off by the time I reach 50!!
     
  18. So, I got the jist right, if not the
    bit.

     
  19. Ha - yes you tell him, that nasty FP!
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    Was it a 12 year mortgage then? [​IMG]
     

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