Retiree reflections: “If I had my time over again, when would I retire?”

“Sexism and age discrimination in the workplace are real. I’m divorced and paying off a small apartment. I’ve been retrenched three times now, which I still find very hard to come to terms with.

“As an older woman, it’s difficult to land a job interview, let alone a job. I still do some casual work a few days a week, but I’d prefer to work full time again. I’m being forced into retirement before I’m ready. I feel too young to stop working.”

Paula, 70, art teacher, retired

“I didn’t retire until my early 60s because I love teaching and didn’t want to give it up. My husband is a builder and is mad about sailing. When he was in his mid-50s he wanted a different kind of lifestyle, so we sold our family home in Sydney and bought an apartment on the NSW North Coast.

I still run workshops and connect with local artists. We love living near the ocean and feel healthier and happier than ever. We bought a small sailing boat and take friends out for the day. The grandchildren come for holidays. I think we retired at a good time. We are financially secure and still have many years ahead of us.”

Lucien, 74, salesman, retired

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If I’d known how good it feels to have the freedom to work when you want to rather than because you have to, I would have retired much earlier. I was starting to feel burned out and although I’d worked hard all my life, my finances weren’t that great.

“I didn’t think I could afford to retire, but when I engaged a financial advisor she helped me put a retirement plan in place that has really worked for me.  My investment mix is a key determining factor, but regular interest rate hikes are hurting. I think everyone is holding their breath and waiting for the worst to be over.”

Cheryl, 64, property manager, semi-retired

“My partner and I owned a delicatessen for 16 years which we sold in 2018 and not long after that, we separated. It definitely wasn’t our retirement plan, but that’s what happened. It’s stressful running a small business as well as raising a family. Divorce rates are high among the over-50s.

For almost two years I didn’t work, then I found a job in a real estate agency where I work three days a week. I own my home and have some investments. If I had my time over, I would have sold the business sooner and retired earlier.”

Sonya, 59, hairdresser, retired 2018

“I ran a hairdressing business for many years, but when my partner started experiencing some health problems, I decided to stop working and take care of her. She sadly passed away in 2020.

“Selling the shop meant I could pay off the mortgage, but the current cost-of-living crisis has forced me back to work. I still have a few clients. Household spending has fallen, that’s for sure. When you’re struggling financially, you pay less on little luxuries like having your hair done.”

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Margaret, 81, teacher, retired

“When I was 60, I was badly injured in an accident. I needed several surgeries and was unable to return to full-time work after that. I didn’t feel ready to stop working, so I trained as a pastoral care worker, which opened a whole new world for me.

I met people from all walks of life and enjoyed helping to support them through some difficult times. Unfortunately, my health has continued to deteriorate and, in 2012, I had to give that away, too. My husband is my main carer. We have a lovely home and want to remain living independently for as long as we can.”

Mike, 92, public servant, retired

“I’d always been a public servant, but by the time I was in my 50s I was rather bored with it. I retired at 60 and immediately started studying archaeology and anthropology at the ANU in Canberra. It was something I’d always wanted to do.

“For the next decade I immersed myself in my studies. I went on excavations and travelled abroad. I have no regrets about retiring when I did, but I would say that once you do retire, you find that you have rather a lot of time to fill. You need to devote that time to those things that make you happy.”

John, 72, photographer, retired

“I would have liked to continue working in my field, but I was becoming increasingly aware of the age difference between myself and my colleagues. I had reached a certain level of experience and was keeping ahead of all the changes in the industry with digital imaging. Kodak had spent years perfecting film, then everything went digital.

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“All those little indignities you must endure when people make you feel that regardless of your talent and your experience, you’re just no longer valued in the workplace. I retired because my time was up. Still, I have no regrets about all that now. My partner and I are happy, healthy and financially secure. We’re focused on family and just enjoying life.”