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Anyone here retire age 50?

  • 25-02-2014 9:30pm
    #1
    DK man
    Registered Users, Registered Users 2 Posts: 458 ✭✭


    I'm 6 years away from 50 and I feel I need a change of scene. I have to say I'm not enjoying teaching at the moment and don't think I can hang around until I'm 60! My best years would be well behind me and I feel that I'll regret not moving on earlier. I'm teaching 14 years so I'll still only have 20 years service at age 50 so I can't avail of the special retirement scheme of 55 minus up to two years for 4 year degree

    Anyone here retire early - and how did you get on?

    Another option would be to take a years leave of abscence and hope to regain my energy and enthusiasm for the job.

    Any views for or against would be welcome


Comments

  • #2
    Pwpane
    Closed Accounts Posts: 457 ✭✭Pwpane


    My advice - if you think you have an alternative path, go now. In my experience, once you lose the enjoyment it doesn't really come back and you'll heartily regret not going when you had the youth and energy to start again.

    If you take a career break you probably will renew your enthusiasm for the job but you'll only be back in the door when you realise why you lost this enthusiasm in the first place. All the reasons will still be there and while you were gone everyone else kept moving without you.

    Why not take a career break and use it to set yourself up in whatever new role you see for yourself. You can take up to five years at a time.


  • #3
    spurious
    Moderators, Category Moderators, Education Moderators Posts: 27,316 CMod ✭✭✭✭spurious


    I went at fifty.
    I went on what they call cost neutral, which essentially means you get back what you put into the pension (I think - accountants please don't kill me).
    It results in a very small pension, but I'm lucky enough to have no major debts or big outgoings - no kids, bought house in the sensible times.
    I am allowed work up to whatever my finishing salary was.

    I'm not working at the moment and other than some previously arranged SEC work don't intend to this year. I hope to find some part-time work in the future.

    I don't regret it for a second.


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