‘I was burnt out’ – the joys and fears of economic inactivity
Barbara was 59 when she decided she’d had enough of working. Theformer chief executive of a multi-academy trust, now 63, had always wanted to retire early, but didn’t think she could afford to.
“I was quite burnt out and desperate to change my lifestyle. I worked 70 hours a week for years – it was just exhausting,” she says. “I was lucky to have a good pension, but also quickly realised that when you retire, you just don’t need as much money. All the activities that I do – my walking group and book group – they don’t cost anything.”
Barbara, who also volunteers as a trustee for an academy trust, is one of many people in her age group deemed “economically inactive”.
The economic inactivity rate for people aged 50 to 64 hasslightly increased again, up from 27.1% between October and December last year to 27.2% between January and March 2023, according to the Office for National Statistics.
The government has attempted to appeal to this group to return to the workforce to plug the gaps in Britain’s economy, although chancellor Jeremy Hunt’s message that life “doesn’t just have to be about going to the golf course” was widely condemned.
Since retiring, Barbara has moved back to her native Manchester from Bristol and has been able to spend more time with her family, providing a “fair bit of childcare” to her six grandchildren.
She says she understands the government’s concerns, but adds: “I am making a contribution, because my childcare commitments allow my own children to remain full-time in the workforce.”
Barbara is one of hundreds of people who responded to a callout by the Observer asking Britons in their 50s and 60s how they have spent their time since they retired.
Many reported a better quality of life as the primary reason
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