What would you do?
You are in good health. You have lots of hobbies and interests that you want to spend more time enjoying.
On the other hand you don’t enjoy your job at all. Frankly you would prefer not to have to go to work each day.
You have one more year to go before you can take the benefits from your pension scheme.
When those benefits become payable you will have enough income to pay all the bills and some left over for enjoyment.
In seven years time your income will jump quite a bit because State pension benefits will become payable to you.
You have some savings. More than enough so that if you were to spend those savings over the next year they would more than replace the net income you bring home from working.
Would you be prepared to spend those savings in order not to have to go to work? Remember it’s work you don’t enjoy.
Many people are not prepared to do this but the trade off seems to be between spending the next year (a year you won’t ever get back) putting up with work or the risk of spending all of your savings which might be difficult to replace in later years.
What would you do?
