I would guess a fair few people who retire early do so because they come from well paid jobs and have the pension pot and money to allow them to do so. If the state pension was a lot higher and the retirement age was 50 I would imagine a lot more people would retire as they would have the opportunity to do so that they don't have today.
I am in the former category but don't actually want to retire too early but if I did why would I want to work for almost minimum wage doing a job that is providing no satisfaction. I would go back to a similar well paid job that I am already doing if I wanted to work or required more money.
personally I retired early because I was burnt out physically and mentally by my job and have retired on money many of you would think totally inadequate, Put simply I could no longer work in the profession I had worked all my life in. 60 is not that early anyway but there was no way on earth I could have continued another 7 years, I would have been off sick / on invalidity
I believe that actually a lot of folk my age and younger will "retire" to parttime work as many folk have totally inadequate pensions.
Employers and recruiters are staggeringly ageist. I am 58 and have years of senior management experience in IT. I was most recently an "IT Director" and held a number of "Head of IT" and Senior "IT manager" positions, leading medium size teams and managing large budgets. I took some time out and whilst I am fortunate enough to not have to work, I have applied for a number of roles that look interesting and my skills and experience appear an excellent fit for. I dont get a single phone call just the occasional "no thanks" email.
Desperate to get us 50 somethings who took early retirement back to work and paying tax.
Nah, not happening.
There was a story in the Guardian about someone who retired from a stressful job and was enjoying some lorry driving. I think there's a lot to be said for an easy part-time gig for a bit of pocket money and social interaction if the alternative is sitting at home by yourself watching daytime TV but it would be a miserable life if you're struggling for money and working all hours to make ends meet. It's also not likely to make much of a dent in our economic problems.
It’s also not likely to make much of a dent in our economic problems.
Of course it's not. An odd concept for the tories to come up with really by attacking over 50s - the very people who vote for them.
Eldest_oab is Just Eat rider in Edinburgh.
He's worked out the system of when to work to get better rates and the bonus payments. Basically if the football is on, it's raining or cold, and in certain parts of town who tip...
He reckons to average £12-15 an hour. Last week me managed a 4 hour stint and cleared £86.
That said, he uses it as training and basically razzes round watching his heart rate...would/could I achieve that at my age (49)? Not at the intensity he does it, and so I would earn less.
The stairs would do it for me. Could handle the riding but...
I have applied for a number of roles that look interesting and my skills and experience appear an excellent fit for. I dont get a single phone call just the occasional “no thanks” email.
This may partly be down to how job searches are done now. Applicants just don't get rejection emails but interviewees might.
If an applicant is applying for roles that are less senior than previous positions, some managers might find that offputting because they're unsure of their own skills and/or because they're worried the applicant is going to spend the whole time moaning about how they used to do it elsewhere or disagreeing on the approach. It's difficult because obviously seniority, age and experience are usually interlinked in reality.
Surfer - I'm not sure that's agism, but that towing around a big previous job title, especially if you're looking for a less senior role.
Are you applying for perm or consulting. The latter will be a lot easier
I think WBO has a point there, recently our entire senior management across all functional areas has been purged with the responsibilities of one IT director and reports given to me.
Desperate to get us 50 somethings who took early retirement back to work and paying tax.
Nah, not happening.
A lot of over 50s who have retired are already paying tax. My dad's income is similar to mine.
The state pension is now above the income tax threshold if you get the maximum. ridiculous.
@failedengineer Not sure I follow that? UK State pension is up to £203.85 per week which is £10,600.20 per year. The annual tax free allowance is £12,570.00
Spend some of that on an ebike and you’re quids in! All the pizzas you can deliver!
When are you getting your deliveroo jacket Binners? would the greggs ever arrive?
Would anything ever arrive?
@bentandbroken - That's the maximum state pension without the old additional state pension added on. I get just over £13,000.
failedengineer
Full Member
@bentandbroken – That’s the maximum state pension without the old additional state pension added on. I get just over £13,000.
So you're paying basic rate of tax on just over 500 quid?
Outrageous! What's wrong with paying in to the nash for 35 years with the intention of packing it in and ageing disgracefully?
