I am now old enough to be at that time of life to watch my children turn their attention to retirement plans. Whilst they are both in their fifties they face the familiar problem of deciding when to escape from pressure loaded careers. The big issue of course is about money. Can they take early retirement and have enough money to clear a mortgage? Will leaving early mean they will have to sell their home and downsize to make ends meet? These factors are compounded by children slowly venturing into adult life. Will the children be able to leave home and get their own accommodation, or will they still expect to live at home? Young people are struggling to buy their own home and often if they get jobs in cities rents are high. If they venture to university they will almost certainly leave with big debts. Taking early retirement means a long wait for the old age pension to kick in. The age to get it is now 67.

As a parent you want the best for your children and naturally want to give them the benefit of your experience. It is a temptation to give advice without recognition of the fact that things are different now and no two situations are the same.

My generation are in many ways the lucky ones. Despite being born into a working class family living in four rented rooms in a terrace house during and after the Second World War it was possible with a good education to subsequently get a well paid job and get onto the housing ladder. Having a job with a pension was to be another real bonus.

Like many in education I did take early retirement from full-time work. It was just before my 56th birthday. There was the gap between this decision and the arrival of my state pension some nine years later. The advantage of this move was to make me mortgage free but still left me with half as much monthly income. There was the obvious need to still find some work to cover the shortfall. Fortunately it was possible to do lots of part-time work. Not all of it was agreeable. The one job which whilst well paid that I had trouble with was doing Ofsted inspections. I never really fitted in. After a dreadfully taught residential course to qualify I only managed a dozen visits. It may well have been my problem but I found many inspectors arrogant, lacking recent face to face teaching experience and generally aggressive towards teaching staff.

Retirement can be a dramatic turning point in life. It needs careful consideration. My two children have contrasting approaches to the issue. My task is not to try to interfere. No doubt they will weather the storm ahead. Meanwhile like many parents of adult children I will act as a listening post to their concerns.

Good luck to all parents as you face that time of life.