Whether to give up work/retire.

Minnie18

HI everyone, Just wondered if I could ask for thoughts/opinions/experience of the group to maybe help me come to a decision on giving up work/retiring?

I am 63 years old and currently off work as I've had a hip replacement. I am due to start back soon - I have my own little business as a self employed tutor after taking early retirement from nursing - but I'm really struggling. I have severe osteoarthritis in my other hip, back and both knees and have been told I need the other hip and both knees replacing as well. The combination of the recent surgery and the pain from my other joints is really wearing me down and my mood is rock bottom. (I'm already on antidepressants and strong pain killers)

I get PIP, a small nhs pension and Universal Credit LCWRA so am ok financially and have no requirement to work at the moment. I would dearly like to call it a day and retire as I'm so exhausted from the pain, day to day struggles, and lack of mobility. The problem is that I have another 4 years before I get my state pension and am worried that the government might take away my pip/lcwra before then and then I wouldn't be able to manage. I am so torn between soldiering on which feels like a gigantic battle even though I will only be working 2 days/week, or just taking a chance and finishing so that I can focus on my health and well being. My pip award is due to be reviewed when I'm 66; I got the lcwra last year so could be reviewed any time. I live alone so no other household income.

Sorry for the long post but I would be so grateful to hear others experiences/thoughts on this. I feel giving up work now would most definitely be the best thing for my health and wellbeing but am frightened of letting my business go in case things go pear shaped. Do people think I am maybe worrying too much about something that may never happen or am I right to be cautious? What would other people do in my situation? I know it's a personal decision but would welcome any thoughts/opinions.

Thank you so much for reading.

JennieWren

My husband and I are at a crossroads re work too. I think you’re sensible to be cautious as you don’t want to regret your choice later for whatever reasons. I understand it’s physically exhausting and increasing your pain levels currently and there’s your mental health to consider too. But will you miss it or your feeling of independence? That’s what I miss most about work is that sense of achievement and also the benefits of being around colleagues. Is there a way of carrying on, but in a more manageable/sustainable way eg tutoring remotely/virtually via Teams/zoom? Or revisiting your work hours so that you work fewer hours over more days? I love a pros and cons sheet, but currently going through something similar I can relate to how confusing it is and not being able to see into the future is really unhelpful 😉and what’s best on paper is not always best for our person. It’s a big decision and your gut feeling might be what you follow in the end. I think if you don’t spend a reasonable amount of time mulling it over that may be what you regret later (act in haste, repent at leisure I think is the saying). I don’t know your situation but have you been on a pain management course or had your meds reviewed recently. Will your condition improve if you have surgeries? There’s so much to consider and a crystal ball would be helpful. I hope you come to a measured decision that you’re happy with.

GalDriver

You'd have to do the sums for your situation, of course, but when I was medically retired, at 53, it came as a shock and although I got a small pension I was years off getting state pension (not helped by them moving the goal-posts! grrr!) but I found myself better off than expected as I no longer had to pay for commuting, eating at work, etc.

It sounds like you need to stop work if you're in so much pain, that depletes you energy and welbeing so much.

Good luck in your decision. Let us know what you choose.

Rachel_Scope

Hi @Minnie18. Just thought I'd check in with you and see if you were able to come to a decision about retiring? It's such a personal decision and I hope you've chosen what feels right for you.

Minnie18

Hi @Rachel_Scope

Thank you for your lovely message.

I have decided to cut my hours back and wind down my tutoring business over the next 12 months then retire next summer. I am only working 2 short evenings now which has made things more manageable, and it has definitely helped to actually have set a date to finish. It will be a gamble financially as I will still have 3 years left before I can get my state pension, but after looking at the numbers I think I can manage if I'm careful. It feels a nice way to do it as I will be able to see my remaining 3 students through their GCSEs rather than letting them down at a very important time in their lives, whilst also taking care of myself with less hours and less stress.

Thank you to everyone who commented, you are all very kind. Xx