1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Hi Guest, welcome to the TES Community!

    Connect with like-minded education professionals and have your say on the issues that matter to you.

    Don't forget to look at the how to guide.

    Dismiss Notice

Whay would YOU do? Please help!

Discussion in 'Retirement' started by henny_penny, Apr 16, 2012.

  1. henny_penny

    henny_penny New commenter

    Hi everyone! I love reading the threads on this forum. I'd love your opinions to help me clear my thinking.
    I'm 49 and will be 50 in July. My husband is 65 and has been retired for about 8 years. I've only been teaching about 8 years and have no intention of working until 68 (or whenever!) to get my pension. Luckily we have no mortgage, the kids are (almost) independent, I'm not depending on my teacher's pension which will be quite small. I have a small pension from my previous career and even when hubby kicks the bucket, I should be ok with his company widow's pension.
    I've not enjoyed teaching the past couple of years - too many observations, competitive nature of younger teachers, paperwork, working evenings/weekends etc etc (I'm sure you get the picture!). I'm certain that I don't want to teach full time any more - I've had enough. The question is - shall I just pack it all in now and take a (very) early retirement so that I can spend some time with husband before health issues kick in - we've always talked about travelling and I just think that if I don't jump ship now, it may be too late if I wait even another couple of years.
    My head likes me, I'm on SLT but deputy-ship is still a couple of years away and she favours young teachers anyway (they're more pliable!). I don't want to stay full time BUT love my colleagues and is 50 too young to walk away? Aaargh - I'm going round in circles!
    What would YOU do?
  2. I retired last August.I was 55.If I could have gone earlier I would have done.I too had fallen out of love with teaching.I loved my colleagues and still keep in touch with many of them.My husband also retired when I did.We love our new life and make the most of every day.I have heard some sad news recently concerning the health of quite a few friends and aquaintances.Yes,walk away,and be with your husband!
  3. Just do it! You only have one life and your husband is around NOW may not be when you are 68!! Go and enjoy life, you can always do supply if you need to be out of his hair occasionally. Wish I had done it last year. You can't reinvent time so make the most of it.
  4. henny_penny

    henny_penny New commenter

    Thanks to all of you - I saw the guardian article a little while ago and I think that's what got me thinking seriously. I'm definitely going to stop in July - supply is a good plan. I'm a little worried about leaving the work-place entirely so that would be a good way of keeping involved.
    But first we're hoping to take a belated gap year! One of our kids will be working in NZ for a year so we'll be able to go and visit.
    Catherine - you're in your first year of retirement. Do you think you're still enjoying the novelty of free time? No worries about what to do in all the years ahead? I think I'm a bit anxious about going from VERY busy to not being under any pressure at all!
  5. I know what you mean.I suppose that could be a possibility?I do have a lot to do though.I play the clarinet(haven't practised for 6 months!).We have two dogs.They need lots of exercise.We are lucky enough to live near a lot of ski resorts.I love baking/cooking/reading.I am quite good at doing absolutely nothing and not feeling the slightest bit guilty.I now live near my sister.My children are grown up and I get to see them quite often.I hope I remain healthy for a long time to come.I have no regrets at stopping when I did.You never know what life will throw at you next.!Here's hoping the novelty does not wear off!
  6. As I see it your pension is due at 60, whatever happens to the changes being forced through. So you could take a reduced pension at 55 if you wanted. Phased retirement could also be worth loooking at.

  7. henny_penny

    henny_penny New commenter

    That's interesting Colin; I thought I narrowly fell outside of the '10 years to retirement' band and therefore would be affected by the changes - I'll have another look. I had considered reduced pension at 55 but thought that we'd probably be ok on husband's pension and I could get max possible teachers pension (which won't be huge anyway) if I'm on the widow's pension at 60. (I'm sure husband will live well beyond 75 but I always tend to consider worst case scenarios!).
    I will have another look at phased retirement but I'm feeling so fed-up with teaching at the moment that I think I just want a clean break - possibly some much smaller teaching role after a year or so.
    Catherine - your life sounds lovely. Looking forward to having time to read my ever-growing pile of books to read in the future. I also have no problem with doing nothing and it would be nice to take different opportunities if they present themselves. Thank you for your replies.
  8. You may well be affected by the proposed changes when they are imposed at some date in the future. But the changes will only affect your contributions after this date. The pension payments before the this date will still have a retirement date of 60. If you continue teaching after the change you could be classed as a ‘member with mixed service’, you would then a pension for 8+ years due at 60 and a second pension under the new scheme at a later date.
  9. henny_penny

    henny_penny New commenter

    Thank you Colin. You have made this really clear - a pension at 60 is very good news for me in my present situation and helps with my calculations.
    I'm pretty sure I'm going to leave teaching at the end of the year and can look forward to the pension sooner than I thought - thank you again for taking the time to explain.

  10. Go! If you don't need the money and the hassle go now!
    Were you in the pension scheme before 2007 when the ground rules changed? If so, pension can be accessed at 60, or earlier on reduced benefits.
    Have sent you a p.m.

  11. Well, it IS young...but just think of all that lovely teaching-free life stretching out before you, life that can be lived as you choose to live it!
    I left teaching just before my 51st birthday, so I was a young retiree...too young to be retired really. I certainly wasn't planning to bail out at 50, but I used the reorganisation of secondary schools as a lever to get out....so did another HOY. I'd had a series of health mishaps and they were being aggravated by the stress of it all and it was enough to gain retirement on ill health grounds. I shouldn't have rejoiced but I did! [​IMG]
    (The health problems got worse once I retired because other ailments cropped up and a couple of ops went badly, causing more problems.) So..my retirement was seriously marred and I really couldn't have carried on, even if I'd wanted to. Sod's law?
    I was over the moon when I was able to go though...I'd done my thirty years and was whacked and completely fed up with the nature of teaching...all the changes and ways of doing things annoyed me intensely and I really wanted an escape route.
    50 is young to find yourself without work and financially I suffered and also missed my colleagues and daily routine too - and working with teenagers, believe it or not - but I adjusted quite quickly. If I hadn't been ill so very so soon after retiring on health grounds I'd have been revelling in my new found freedom every day. The plan was that I'd get a little p/t job to supplement my income but you know what they say about the best laid plans...
    I am on the up now, and really could do with something to supplement my income, but apart from that, life is much better now than it was when I was teaching. If you can afford to get out and you aren't enjoying your work, I'd say do it. Even with very little money I have lots of happy days pottering and seeing friends and generally LIVING.
    We are a long time dead....and I am so glad I got this opportunity to enjoy lots of stress-free days while I am still young and active enough to enjoy them. I am also better company for my (live out) partner too...He still works.
    Keep in touch with your colleagues if they are good friends...and I'd also advise that you keep abreast of developments in education/your subject specialism, just in case you want to do learning related things in a p/t capacity later on. <~~ I was snookered on that one because of years of incapacity almost immediately after retiring.
    Best wishes...I'd say go for it! [​IMG]

  12. henny_penny

    henny_penny New commenter

    Thank you houserabbit - have sent you a p.m.
    Also many thanks Arched Eyebrow - it's great to hear from someone who retired at a relatively young age and is enjoying their retirement. I'm so sorry to hear that you suffered health problems but great to hear you're on the mend now.
    I also have vague plans to do something p/t after a year's break or so, although I know that from 50+, it becomes difficult (where's that hair colour?). Maybe exam-invigilating or something. I'll probably need some incentive to get out of the house occasionally as I'm worried that I might become a bit reclusive and possibly over-dependent on OH.
    Many many thanks for your thoughts - I think I'm going to do it. There are many factors involved and overall the balance is in favour of going and starting to enjoy life a bit more.
    Best wishes to all of you - I've really appreciated hearing all your thoughts.
  13. AlwaysAdaptable

    AlwaysAdaptable New commenter

    I have two more years before reaching the grand lovely age of 55. I too am a little confused about what to do. I am already leaving my job at the end of July, paid upto 31st August. I thought at 53 I am too young not to be doing anything. So have started looking for r jobs. I am not very hopeful. I just cant bear to be not doing anything. I am thinking of supply work or even working as a TA until my OH seeks an alternative lifestyle. He says not to worry as we don't need the money. He also recommends that I defer my pension. Which is not going to be a lot as trained when I was 42 But I just can't let it go.
    He is the same age as me and will be working full time. My main worry is I will be bored out of my head.
  14. henny_penny

    henny_penny New commenter

    I understand your dilemma - my difference is that OH is retired. I'm going to give it a term and then look around - maybe voluntary work. I also thought about TA work (although these seem to be few and far between) - thought about sending out speculative letters to secondary schools to work in their Learning Support departments. I'm primary trained but could certainly support KS3/4 maths and literacy.
    Retirees seem to be enjoying life though!
  15. You seem pretty au fait with what the future holds for you, so no surprises in store.
    Having said that and having read through all the posts in answer to your question, the general recommendation is to go now. I worked through to 60, the last year or so was a bit grim, but I am glad I did it. With the way the economy is going, it may be prudent to redo your sums.
    Secondly, worst case scenario, what would you do if you do end up on your own sooner rather than later? The days can be quite long. Whilst I am not advocating plodding on to the bitter end, you may wish to consider a part time job, but from looking on the other forums on this site, it seems to be easier to land a job when you are already in employment.
    One option maybe to get a part-time position but have a few months off before you start. Given that we get just under 12 weeks vacation a year, you can have a pretty good lifestyle with only doing a few days a week and periodically having a longer break in holiday time
  16. Mathsteach2

    Mathsteach2 Established commenter

    I may have missed it, but I saw no mention of private tuition in this thread.

    I became fully retired at 65 years old (5 years ago) but began seeing students (5 years old to adult) in my own home. I am still doing it, my wife is my manager in the background - especially the little ones who sometimes need a break from me!

    Of course it is a commitment (sometimes the students do not turn up!) but it keeps my wife and myself in touch with young people (parents and students - we even invite some of them to our parties!), making retirement more that just sitting around wondering how to occupy ourselves.

Share This Page