I wont go into all the details, but I’ve been at the same job for over a decade. Not much has changed significantly, and I’m really bored of it all. Looking ahead, things can only get worse. I wouldn’t get another job in the same area, but haven’t got a clue what else I could do… if I went through with this, I could live comfortably renting for a long time (years) on the profits from selling the house. I would probably have enough capital to start some kind of business but in what?..
I know it is very personal… but as the old saying goes, a problem shared is a problem halved. Just bouncing random ideas I guess.
As above, a rough estimate is I can live for a long time renting if I sold my house. Any income, however small, will lengthen that considerably. Any new job would replace what I do now, so I’m not sure if the hours will be worse, and if anything I might have more flexibility. The biggest problem I have is I don’t know what that might even be in.
I did the same job for 19 years - hated every minute apart from the one when I opened the payslip. With tax/NI, CSA, and Legal Aid resulting in me effectively paying 104% tax on anything over £13.5k, I too decided it was time to walk away from the crap. If you have a financial fallback, and marketable / transferable skills, I’d say go for it. Maybe put the house rental through an agent and go travel for a while. For instance you could live for for 6 months for £2000 in the Philippines, teach English while there for free perhaps? or maybe work on a charity project for a while?
If you own the house you are in why not rent it out and go travelling ?
Selling it (even in Swindon ) would not make a lot of sense in the long run.
Have a look at the job market, are there any jobs for your skill set elsewhere in the world ?
If there are and you have no ties give somewhere else a go, you always have your old house to fall back on if it doesnt work out.
Welcome to my world … … and I’m already up north, it’s no different to where you are.
My 2p (if it’s actually worth 2p nowadays) - things aren’t gonna change mate, yes you’ll feel free for a while, you’ll be happier for a while, but then you may find that renting isn’t the way forward and jobs (that would interest you and give the variety you long for) are in very short supply… especially in these times of Economic Armageddon :lol:
How long to go before you can safely take early retirement (or ‘drop out’ of the rat race) ?
You may be better off slogging through another few years where you are, try and save as much as you can until you have the means to survive by downsizing the house and then doing part time work of your choosing, giving you more freedom than you currently have but with the financial bonus of a wage when you need it.
Maybe starting a small (part time) business venture of your own would be easier that way too, at least you’d still have the security of the house and savings if you found it wasn’t working out
Just an old mans musings about burning bridges and all that :tiphat:
Realistically I know there isn’t a way I can give up working at all, short of a lottery win. It’s more the “what” I’m doing, and my current role isn’t it. And I can’t see doing the same job at another place being that different, hence career change magnitude shift required.
“up north” is different for me, it is more “who” than “where” Downsizing house locally isn’t an option really either. It’s already tiny. The only way that could work is to move somewhere cheaper, hence “up north” comes in again.
Early retirement isn’t anywhere near on the radar.
Renting out my house isn’t economic at the moment. I’m on a fixed mortgage from when the rates were higher, and the possible rent I could get isn’t much more than that so I’ll have nothing to live off. Actually I go off that back to variable this summer so maybe that will lower the repayments enough for that to be economic. Plus I have to do work on the house before that.
So yeah… still lots to think about… but I think I do too much thinking, not enough doing at times.
I’m kind of torn between Woly’s & TF’s suggestion.
imho we’re totally screwed in the UK, and for that matter in much of the Western world. China is holding 25% of the US debt and god knows how much of the UK’s. The recovery is not happening because there’s nothing of any substance left in UK ownership for it to recover from. How will property, investments and currencies hold up :shrug:
On balance, if I had no other ties or reasons for staying, I’d be off buying into the far east and enjoying it.
Hmm… in theory, I do have a share in family owned farmland in middle of nowhere far east. But “The Good Life” style farming is possibly going too far the other direction!
Just general round the world travel was a something on the to do list as a once in a lifetime thing, but the mortgage is a serious anchor preventing that, hence needing to cast it off if I want to do anything radical.
Just a thought - If you can rent out the house to pay the mortgage - and you want to try something different - take a look at the VSO website - I don’t know if you have the skills they want, but it could be all you need to scratch that wanderlust itch.
Current day job is in electronic engineering. Outside that my main hobby of the moment is (wildlife) photography and I have been wondering if there’s any way to commercialise that to any significant degree, but that’s possibly a niche too far.
Never thought about military before. Not sure its my “thing” but will look a little deeper. Last two… well, as said I’m not intending to do the same kinda things as I am now if I’m going through the effort of moving.
My cousin has just had a few personal bad years finalised in acrimonious divorce proceedings and decided to go on holidays to the Phillipines as he has a cousin out there. He loved it so much that he keeps going back and has a sort of steady girl over there. With the cost of living he now works 3 months here as a plumber and can afford to stay over there for the rest of the year.