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User
Posted 26 Jan 2021 at 22:31

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Edited by member 12 Feb 2021 at 09:31  | Reason: Not specified

User
Posted 27 Jan 2021 at 01:25
There is a practical issue for men diagnosed with incurable cancer; that retiring early may mean they walk away from a large 'death in service' pay-out. On the flip side, those with critical illness cover or a generous life insurer who will pay out before death may find that it is more lucrative to claim that - the advice of a good financial adviser is needed to weigh up the benefits and risks of the two options.

On a hopefully curable path, it seems an easier decision for those who can cope financially. John was 50 at dx and we had 4 children still to put through university - plus I am not sure what he would have done all day. Once all the children were financially independent, he left work asap; most of his pension pots are small so we have left them where they are for the time being but I am keeping him in the luxury to which he has become accustomed and he has a joyful time following lots of hobbies.

Life is for living - as long as you don't starve.

"Life can only be understood backwards; but it must be lived forwards." Soren Kierkegaard

User
Posted 27 Jan 2021 at 00:27

I was 58 when diagnosed and working in Project Management roles as a contractor.  I carried on working through a couple of projects while trying alternative treatments but it does affect your focus. After about 12 months I gave up work and focused on what I felt I needed. Once I had committed to surgery I felt I couldn't be bothered with stand up  leadership roles while potentially managing incontinence issues, hormone therapy side effects etc so gave up that career but didnt retire fully. Just set up a small business with my son based around what I/we enjoyed and that would offer flexibility.

Cheers

J

User
Posted 27 Jan 2021 at 00:35

Hi,

You are not the only one I’m sure thinking like this.  I am 52 and have worked in same organisation since I left school aged 16.

Having undergone Radical Prostatectomy on 7th Jan and having a few side effects I have reflected on what I want for my future.  I can voluntarily retire at 55 with a good pension but I’m seriously considering if I want to return to my old job or look at something different and work part time.

I lost both parents at 62, Dad through a heart attack and mum 12 months later with oesophagus cancer.  She worked all her life but had to give up work due to her cancer spreading rapidly. 

I don’t want to be in the same position so fully understand why you are at that crossroads.  My friends say there is more to life outside of current job and I’m beginning to believe them.

I overthink the money situation sometimes as I enjoy the good things in life, nice holidays, clothes, car etc.   I also have a mortgage that ends in 2.5 years but then I keep going back to how fortunate I am to hopefully now be cancer free and alive.  Nothing else really matters now except for recovering and enjoying life to the max.  I think the ‘live for the moment’ is quite apt now to me and hope you sit down and write the pros and cons to help you make the right decision for you and your family.  I found that quite cleansing and focussed my mind away from the minor side effects I am currently experiencing.

Good luck, if you are like me, the future can be scary but not as scary as when you were initially diagnosed.  Regards, Neil

User
Posted 27 Jan 2021 at 03:07
Hello again.

You say your treatment and recuperation might take up to a year. If you read my profile you can read the contemporaneous notes of my surgery and the fact that my recovery took a only matter of weeks. And I only used incontinence pads for about ten days once the hideous catheter was removed.

I did have the benefit of a ‘high-volume’ surgeon, the likes of which I mentioned to you in your other post.

The MSC reference to the rate of ‘recurrence’ at fifteen years, just means that you would need to undergo further treatment, this time, called salvage HT and RT, just as my two mates did, when their surgery was not totally successful. Lots of tools in the box at that stage. You might live to be as old as Methuselah.

Ditch the MSC Nomograms and their prognostications at this stage. I often joke you could consult Gypsy Rose Lee on the pier at Blackpool and get as accurate a forecast of your future!

Cheers, John.

User
Posted 27 Jan 2021 at 08:01
I'm 60 next birthday and still working.

Throughout my 40s I planned for my early retirement (paid extra pension etc) then disaster at 54 PC diagnosis followed rapidly by acrimonious divorce.

I have now managed to put my kids through Uni on my own and they both have their own lives and houses despite my ex wife's efforts to destroy everything.

Up shot is even when you have a cancer diagnosis life can still have unseen pitfalls lined up for you. Having a job that gives daily purpose and income can be a life saver.

So retiring early may be the right option but at least wait until you are on the mend (or run out of sick leave!) before making that decision.

User
Posted 27 Jan 2021 at 08:53

I had open prostate surgery last March just as lockdown hit and was 57 at the time.

I needed to be back at work straight after surgery ( as I had operations shut down both here and the USA that I needed to get restarted) and it wasn't really an issue to work. So I don't think you need to feel a large part of a year will be wiped out with treatment

However, despite making a virtually full recovery, I stepped down from my role at the start of the this year and am currently working out my 12 months notice on garden leave with retirement to follow. 

I think it made me realise life is too short to spend it working 

 

 

User
Posted 27 Jan 2021 at 09:40

I was diagnosed at 55, had all my treatment privately on my work medical insurance, and took early retirement on my 57th birthday. That was 18 months ago. Although my first year of retirement wasn't exactly what I'd had in mind, it was definitely the right decision for me.

I'd paid off my mortgage some years previously, and used most of my retirement lump sum to pay off the finance on my car, so my monthly living expenses are now very low (council tax is my largest monthly payment now). Although I'm earning a lot less than I was in employment, my standard of living is almost unchanged.

Best wishes,

Chris

Edited by member 27 Jan 2021 at 09:44  | Reason: Not specified

User
Posted 27 Jan 2021 at 11:32
We are thinking about this too. My husband's work does define him in that he runs his own business and works from home. He employs a couple of people but only on a project by project basis.

Lyn makes a very good point on the financial side. When I worked for my previous company my Death in Services benefit would have been 10 x my salary plus most of the career was on a Final Salary basis so my husband would have got a huge amount. Probably close to £900k plus a reduced pension. Thing is that I wouldnt have been around to ensure what it was spent on!!

But its not me is it?

My husband has always wanted a Ferrari.....

I am finding even not its not me this b****** cancer is affecting that working part time is taking my mind off it. If even for a short length of time. I have a feeling that husband might make a snap decision once the side effects of the drugs kick in. I am not sure that will be the right decision. He does have potentially an option to just take on the occasional project or draw down from his pension which he hasnt even touched yet.

Hindsight would be wonderful wouldnt it at this time.

User
Posted 27 Jan 2021 at 13:10

Hi, I was diagnosed a few days before my 56th birthday with a 4+3=7 T2 in 2019. I went for surgery and returned to work after two months. Now a year later, I have taken voluntary redundancy which has enabled me to crack on with a long list of DIY jobs. Not sure if I'll take retirement or do something part time just yet, but the redundancy payout gives me time to weigh up my options. My pension can be taken early but with a penalty of 5% for every year. 

My view is that if you can carry on working for now, it's money in the bank while you plan your next move.

Good luck. 

Kev.

 

User
Posted 27 Jan 2021 at 15:18
Definitely talk to an independent financial advisor before making any decisions. When I did so I was pleasantly surprised to find how much money I'd get from previous pensions (largely due to a generous civil service pension from a previous job). That would have paid out normally at 60, and taking it 3 years early didn't affect it that much.

Cheers,

Chris

User
Posted 27 Jan 2021 at 16:04
Cheshire Chris is right! A good IFA will help immensely. We have a complex situation in that my husband hasnt touched his pension yet. Still working full time. He also has a company and is taking dividends etc etc.

Now we know what we know it does change things dramatically. Tax in particular. Our accountant and IFA are working hand in hand to ensure we are doing the right things. Take particular care with beneficies on your pension form as well. For us we are each others and as we are married that makes a big difference.

User
Posted 28 Jan 2021 at 21:21

Hi,

I haven't experienced this as I was retired at the time of the op.   

I'm sure I could have gone back to work, in an office with some travel, perhaps within 2 to 3 months but certainly after 6 months.  If someone meets me they have no idea I've had an op and I've only told a handful of people.

Retiring at 55 was one of the best things I ever did but it obviously depends on several factors.

Edited by member 28 Jan 2021 at 21:21  | Reason: Not specified

User
Posted 28 Jan 2021 at 21:51
I was retired at 46 on a full medical pension for other reasons , but found out at 48 I had PCa ! Total bummer. Surgery ensued but went back to work as a HCA for one year then two years as school caretaker. Sadly I’m now incurable with bone and lymph mets at 53 and retired again during the school summer hols. In fairness it was a good thing for me ( not the cancer ). Seven years as a Merchant Navy Engineer officer, followed by 23 yrs as a refinery operator , then a total change of scenery which has been very fulfilling life-wise. And if the hormone therapy starts to work and slows the cancer I’ll be looking again for something. I miss the human contact more than I miss the money :-(

If life gives you lemons , then make lemonade

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User
Posted 27 Jan 2021 at 00:27

I was 58 when diagnosed and working in Project Management roles as a contractor.  I carried on working through a couple of projects while trying alternative treatments but it does affect your focus. After about 12 months I gave up work and focused on what I felt I needed. Once I had committed to surgery I felt I couldn't be bothered with stand up  leadership roles while potentially managing incontinence issues, hormone therapy side effects etc so gave up that career but didnt retire fully. Just set up a small business with my son based around what I/we enjoyed and that would offer flexibility.

Cheers

J

User
Posted 27 Jan 2021 at 00:35

Hi,

You are not the only one I’m sure thinking like this.  I am 52 and have worked in same organisation since I left school aged 16.

Having undergone Radical Prostatectomy on 7th Jan and having a few side effects I have reflected on what I want for my future.  I can voluntarily retire at 55 with a good pension but I’m seriously considering if I want to return to my old job or look at something different and work part time.

I lost both parents at 62, Dad through a heart attack and mum 12 months later with oesophagus cancer.  She worked all her life but had to give up work due to her cancer spreading rapidly. 

I don’t want to be in the same position so fully understand why you are at that crossroads.  My friends say there is more to life outside of current job and I’m beginning to believe them.

I overthink the money situation sometimes as I enjoy the good things in life, nice holidays, clothes, car etc.   I also have a mortgage that ends in 2.5 years but then I keep going back to how fortunate I am to hopefully now be cancer free and alive.  Nothing else really matters now except for recovering and enjoying life to the max.  I think the ‘live for the moment’ is quite apt now to me and hope you sit down and write the pros and cons to help you make the right decision for you and your family.  I found that quite cleansing and focussed my mind away from the minor side effects I am currently experiencing.

Good luck, if you are like me, the future can be scary but not as scary as when you were initially diagnosed.  Regards, Neil

User
Posted 27 Jan 2021 at 01:25
There is a practical issue for men diagnosed with incurable cancer; that retiring early may mean they walk away from a large 'death in service' pay-out. On the flip side, those with critical illness cover or a generous life insurer who will pay out before death may find that it is more lucrative to claim that - the advice of a good financial adviser is needed to weigh up the benefits and risks of the two options.

On a hopefully curable path, it seems an easier decision for those who can cope financially. John was 50 at dx and we had 4 children still to put through university - plus I am not sure what he would have done all day. Once all the children were financially independent, he left work asap; most of his pension pots are small so we have left them where they are for the time being but I am keeping him in the luxury to which he has become accustomed and he has a joyful time following lots of hobbies.

Life is for living - as long as you don't starve.

"Life can only be understood backwards; but it must be lived forwards." Soren Kierkegaard

User
Posted 27 Jan 2021 at 03:07
Hello again.

You say your treatment and recuperation might take up to a year. If you read my profile you can read the contemporaneous notes of my surgery and the fact that my recovery took a only matter of weeks. And I only used incontinence pads for about ten days once the hideous catheter was removed.

I did have the benefit of a ‘high-volume’ surgeon, the likes of which I mentioned to you in your other post.

The MSC reference to the rate of ‘recurrence’ at fifteen years, just means that you would need to undergo further treatment, this time, called salvage HT and RT, just as my two mates did, when their surgery was not totally successful. Lots of tools in the box at that stage. You might live to be as old as Methuselah.

Ditch the MSC Nomograms and their prognostications at this stage. I often joke you could consult Gypsy Rose Lee on the pier at Blackpool and get as accurate a forecast of your future!

Cheers, John.

User
Posted 27 Jan 2021 at 08:01
I'm 60 next birthday and still working.

Throughout my 40s I planned for my early retirement (paid extra pension etc) then disaster at 54 PC diagnosis followed rapidly by acrimonious divorce.

I have now managed to put my kids through Uni on my own and they both have their own lives and houses despite my ex wife's efforts to destroy everything.

Up shot is even when you have a cancer diagnosis life can still have unseen pitfalls lined up for you. Having a job that gives daily purpose and income can be a life saver.

So retiring early may be the right option but at least wait until you are on the mend (or run out of sick leave!) before making that decision.

User
Posted 27 Jan 2021 at 08:53

I had open prostate surgery last March just as lockdown hit and was 57 at the time.

I needed to be back at work straight after surgery ( as I had operations shut down both here and the USA that I needed to get restarted) and it wasn't really an issue to work. So I don't think you need to feel a large part of a year will be wiped out with treatment

However, despite making a virtually full recovery, I stepped down from my role at the start of the this year and am currently working out my 12 months notice on garden leave with retirement to follow. 

I think it made me realise life is too short to spend it working 

 

 

User
Posted 27 Jan 2021 at 09:40

I was diagnosed at 55, had all my treatment privately on my work medical insurance, and took early retirement on my 57th birthday. That was 18 months ago. Although my first year of retirement wasn't exactly what I'd had in mind, it was definitely the right decision for me.

I'd paid off my mortgage some years previously, and used most of my retirement lump sum to pay off the finance on my car, so my monthly living expenses are now very low (council tax is my largest monthly payment now). Although I'm earning a lot less than I was in employment, my standard of living is almost unchanged.

Best wishes,

Chris

Edited by member 27 Jan 2021 at 09:44  | Reason: Not specified

User
Posted 27 Jan 2021 at 11:32
We are thinking about this too. My husband's work does define him in that he runs his own business and works from home. He employs a couple of people but only on a project by project basis.

Lyn makes a very good point on the financial side. When I worked for my previous company my Death in Services benefit would have been 10 x my salary plus most of the career was on a Final Salary basis so my husband would have got a huge amount. Probably close to £900k plus a reduced pension. Thing is that I wouldnt have been around to ensure what it was spent on!!

But its not me is it?

My husband has always wanted a Ferrari.....

I am finding even not its not me this b****** cancer is affecting that working part time is taking my mind off it. If even for a short length of time. I have a feeling that husband might make a snap decision once the side effects of the drugs kick in. I am not sure that will be the right decision. He does have potentially an option to just take on the occasional project or draw down from his pension which he hasnt even touched yet.

Hindsight would be wonderful wouldnt it at this time.

User
Posted 27 Jan 2021 at 13:10

Hi, I was diagnosed a few days before my 56th birthday with a 4+3=7 T2 in 2019. I went for surgery and returned to work after two months. Now a year later, I have taken voluntary redundancy which has enabled me to crack on with a long list of DIY jobs. Not sure if I'll take retirement or do something part time just yet, but the redundancy payout gives me time to weigh up my options. My pension can be taken early but with a penalty of 5% for every year. 

My view is that if you can carry on working for now, it's money in the bank while you plan your next move.

Good luck. 

Kev.

 

User
Posted 27 Jan 2021 at 15:18
Definitely talk to an independent financial advisor before making any decisions. When I did so I was pleasantly surprised to find how much money I'd get from previous pensions (largely due to a generous civil service pension from a previous job). That would have paid out normally at 60, and taking it 3 years early didn't affect it that much.

Cheers,

Chris

User
Posted 27 Jan 2021 at 16:04
Cheshire Chris is right! A good IFA will help immensely. We have a complex situation in that my husband hasnt touched his pension yet. Still working full time. He also has a company and is taking dividends etc etc.

Now we know what we know it does change things dramatically. Tax in particular. Our accountant and IFA are working hand in hand to ensure we are doing the right things. Take particular care with beneficies on your pension form as well. For us we are each others and as we are married that makes a big difference.

User
Posted 27 Jan 2021 at 23:08

Hi Ian,

It's not a year out, whatever your chosen route. I was 21 when my dad died from PCa aged 63, he had been very fit all his life. I reach state pension age 66 this year, however will continue working, albeit 18 hrs, it's fantastic being able to do a job I really enjoy.  I was actually made redundant about 8 yrs and felt I was too young to retire.  I guess it's about moving on in life in my own terms, if you understand.   This may sound odd, however having  good mental health and the ability to drive, walk and enjoy friends and family means so much more to me in the last 6 years, time has flown.      All the very best

Gordon, 

 

 

 

User
Posted 28 Jan 2021 at 02:50

Originally Posted by: Online Community Member
I will continue working, albeit 18 hrs, it's fantastic being able to do a job I really enjoy..

Isn’t eighteen hours a day a bit much for a man of your age, Gordon? You should consider retirement!

Cheers, John.

User
Posted 28 Jan 2021 at 21:21

Hi,

I haven't experienced this as I was retired at the time of the op.   

I'm sure I could have gone back to work, in an office with some travel, perhaps within 2 to 3 months but certainly after 6 months.  If someone meets me they have no idea I've had an op and I've only told a handful of people.

Retiring at 55 was one of the best things I ever did but it obviously depends on several factors.

Edited by member 28 Jan 2021 at 21:21  | Reason: Not specified

User
Posted 28 Jan 2021 at 21:51
I was retired at 46 on a full medical pension for other reasons , but found out at 48 I had PCa ! Total bummer. Surgery ensued but went back to work as a HCA for one year then two years as school caretaker. Sadly I’m now incurable with bone and lymph mets at 53 and retired again during the school summer hols. In fairness it was a good thing for me ( not the cancer ). Seven years as a Merchant Navy Engineer officer, followed by 23 yrs as a refinery operator , then a total change of scenery which has been very fulfilling life-wise. And if the hormone therapy starts to work and slows the cancer I’ll be looking again for something. I miss the human contact more than I miss the money :-(

If life gives you lemons , then make lemonade

User
Posted 29 Jan 2021 at 09:45
Each to their own I guess. I retired from the Fire Service 8 years ago at the age of 55 but have worked consistently since. I was Head of Fire Safety so had a lot of transferable skills. I now work for a Housing Association and the virus has meant that it’s essentially home working with site visits. To be honest it’s been a godsend in terms of focus and feeling part of life! After this whole Covid thing is over and I’ve finished my RT I will probably reassess. Like Chris says it’s the human contact that I like but the money is nice too!
 
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