45yrs old. no trade. no job. £200k in the bank. what to do?
Discussion
kingswood said:
what's the best way to earn a living after I leave?!
Erm, the typical route would be to find another job?You must arguably have some sort of skillset from your current job that would transfer to another one, or were they paying you 40k a year to not do anything?
I don't know you or your relationship, but I can't imagine it will do the dynamics of your relationship with your girlfriend much good if you just give up work and move in to hers.
I would suggest not selling the house, as:
a) It's an asset that is likely to appreciate in the long term;
b) Relationships end.
Could always rent it out.
Jobs: there are plenty of jobs out there if you can read, write, talk to people, and aren't too baffled by numbers. Apart from preventing your savings withering on the vine, they're good for your mental and physical health!
a) It's an asset that is likely to appreciate in the long term;
b) Relationships end.
Could always rent it out.
Jobs: there are plenty of jobs out there if you can read, write, talk to people, and aren't too baffled by numbers. Apart from preventing your savings withering on the vine, they're good for your mental and physical health!
kingswood said:
pretty much as per title.
if I take redundancy, (£40k a year civil service job) sell my house and savings I'll have £200k in the bank.
ive no kids, younger gf who doesnt want kids and she has a steady £40k job (can live at hers).
what's the best way to earn a living after I leave?!
What's your goal? (perhaps think about 5 years, 10 years out etc). That might help shape the plan.if I take redundancy, (£40k a year civil service job) sell my house and savings I'll have £200k in the bank.
ive no kids, younger gf who doesnt want kids and she has a steady £40k job (can live at hers).
what's the best way to earn a living after I leave?!
Like others, I'm not sure I'd sell the house unless there's some reason to - Having a toe in the property market always seems like a decent part of the overall life plan to me.
SturdyHSV said:
kingswood said:
what's the best way to earn a living after I leave?!
Erm, the typical route would be to find another job?You must arguably have some sort of skillset from your current job that would transfer to another one, or were they paying you 40k a year to not do anything?
I don't know you or your relationship, but I can't imagine it will do the dynamics of your relationship with your girlfriend much good if you just give up work and move in to hers.
Don't sell the house, let it out (if the finances stack up). If the relationship ends you still have a property, but in the mean time its at least paying for itself and maybe bringing in a profit.
We need more background here - do you love your job or hate it?
Like the type of work you do but just not the current workplace?
I would not sell the house - I'd just work out if you wanted to take redundancy but I can safely say the dynamic with your partner will change dramatically with you not working (and potentially sitting around in the couch each Doritos if you don't have a plan) so I'd be prepaired for that.
Like the type of work you do but just not the current workplace?
I would not sell the house - I'd just work out if you wanted to take redundancy but I can safely say the dynamic with your partner will change dramatically with you not working (and potentially sitting around in the couch each Doritos if you don't have a plan) so I'd be prepaired for that.
bennno said:
interstellar said:
No ties? I would go and travel the world. No one that ever did that said they regretted doing it.
Until they got back with no house, no job and a large proportion of their life savings gone. 
ked. Plus, the younger GF may decide she doesn’t want a retiree and then you’re essentially a tramp. My wife turned redundancy from the Civil Service into early retirement - and she was only slightly older than the OP. Somehow it seems OK for women to do that.
Was interesting in her Department that two thirds of the staff (across England and Wales) volunteered. They were telling younger staff they could their redundancy money as a deposit for a house!
Was interesting in her Department that two thirds of the staff (across England and Wales) volunteered. They were telling younger staff they could their redundancy money as a deposit for a house!
A little similar, divorce upcoming, house going, younger girlfriend with her own place, it all seems very convenient.
If you are not already living together though, then this is not the reason to do so and selling the house for that reason the wrong thing to do.
Using equity to set yourself up in business maybe, but selling because of redundancy without looking at other options or jobs and moving in with the girlfriend seems like madness to me.
Sounds like you are feeling low and undecided about everything in life, including the girlfriend, do some logical thinking about where you want to be. Convenience is not the answer.
Good luck.
If you are not already living together though, then this is not the reason to do so and selling the house for that reason the wrong thing to do.
Using equity to set yourself up in business maybe, but selling because of redundancy without looking at other options or jobs and moving in with the girlfriend seems like madness to me.
Sounds like you are feeling low and undecided about everything in life, including the girlfriend, do some logical thinking about where you want to be. Convenience is not the answer.
Good luck.
Sheepshanks said:
My wife turned redundancy from the Civil Service into early retirement - and she was only slightly older than the OP. Somehow it seems OK for women to do that.
Was interesting in her Department that two thirds of the staff (across England and Wales) volunteered. They were telling younger staff they could their redundancy money as a deposit for a house!
Friend of ours is in redundancy consultation with the NHS (digital). Was amazed tax payer's money was being spent on massively enhanced redundancy payments. Was interesting in her Department that two thirds of the staff (across England and Wales) volunteered. They were telling younger staff they could their redundancy money as a deposit for a house!
I have only been made redundant once - the line was pretty simple insofar as why would we pay anything beyond statutory redundancy; we are making the cuts cos the business cannot afford to continue in its existing form. Seemed pretty self-explanatory.
I don't really understand these enhanced redundancies, but certainly not when its coming from taxes.
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