Life After Retirement

[cota95]

Dr Rich, I am at the 'should I /shouldn't I' point in my life on the retirement issue. I own my own business, which I may need to sell and factors into my decision. Plus I like what I'm doing. Maybe I'll just do it less.

 

[Willie]

It has been almost three years since I left my position at the college. After thirty five years in education it was time to step aside and let someone younger make the mistakes I made when I was convinced I knew it all.

Retirement has been good for me. I have gone back and focused on things that I didn't have time for when I was carrying a blackberry, a radio and an emergency pager.

I would like to share some of my thoughts with the folks who are approaching this milestone in life......

Retire when it feels right and not when all your ducks are in a row.

You will not need as much money to live on.

Thoughts????

The first 2 statements are very encouraging. I am 61 and approaching the date faster than I car to admit. This is a great post.

Willie

 

[BikerGeek99]

WTF is this whole "retirement" thing?

It's a myth.

It's an urban legend.

It's something that'll only happen to others.

Not me, though. No-sirree-bob...

I'll be working 'til the day I croak.

 

[El Toro Joe]

WTF is this whole "retirement" thing?

It's a myth.

It's an urban legend.

It's something that'll only happen to others.

Not me, though. No-sirree-bob...

I'll be working 'til the day I croak.

Yeah...what Andy said

 

[Bounce]

I am heading there myself. I didn't have plans to until at least 2017 but office situations have transpired that make staying unproductive (promotion and pay freezes, increases in contributions to health insurance and retirement with associated decreases in those "benefits", etc.). It will actually end up "costing" me to stay. I really like my work and the people I work with and that's what made the choice so difficult.

BUT... we paid off the mortgage this past December (6 years early). We've also paid off all other debt except for the newest car.

The Shop Project (https://www.fjr-tips.org/misc/pics/shop/shop.html) is nearing completion.

When asked about my plans by the financial adviser, his response was, "So, a modest retirement lifestyle." I interpret that as beans and cornbread.

It really mimics the 5 stages of grieving when it's not on your own terms.

Denial

Anger (I was pissed off for a very long time)

Bargaining (This was where I kept trying to run the numbers on "what if" (raises/promotions/more fulfilling projects)

Depression

Acceptance

 

[HotRodZilla]

I have just under 5 years until I'm eligible for retirement. I can be retired at 44. The bitch is, my youngest will only be 8, so just stopping working is not really an option. I'll prolly stay here past my date, and leave when a new opportunity comes up.

However, that new opportunity will be more to my schedule and liking as I will already have an income and won't have to stress about being paid. Crap...If I play my cards right, I could get into another 20 year retirement job and have two retirements coming in by the time I'm 65.

 

[Geezer]

I just retired at the end of March. I enjoyed my job but I was at it for 35 years and I had lost my enthusiasm. My project moved overseas and I didn't want to start on something new. It is nice having time to do whatever I like, but I miss the challenges and accomplishments I experienced at work and the people I worked with.

I haven't really figured out a routine yet. I have a long list of stuff to do at home that has been growing for the past 35 years, so there is plenty to keep me busy. I also have a 1 year old grandson and he and I enjoy spending time together. Life is good.

 

[FJRay]

I really like the ability to do things at my pace and don't have some idiot on my neck telling me what to do. What I don't like is getting retired on a disability at 48 and get very little for a pension so I need to generate some on the side. Poor planning on my part cause I was one of those that wouldn't or couldn't save for the future but I've had a really good time.

Retirement is good just make sure you are ready with the bucks.

 

[kamal]

Hi DR.

Been retired for two months now (actually I'm still 'on the books' until April 30). I had planned to retire at 63 but the company talked me into staying on until 65 as they had nobody trained to replace me. When 65 approached they pointed out to me that under my union contract I could work to 71 - yeah right!

I worked 4on/4off (2 days, 2 nights, 4 days off), 12hr shifts for 30 years and really enjoyed it. I knew that shift work was adversely effecting my health, but I wasn't seeing it. Now that I enjoy a regular sleep pattern I have a lot more energy and enthusiasm for projects plus I've been able to reduce my blood pressure meds by half.

My fellow retirees and I meet for coffee every Monday for an hour. Not one of them has any regrets.

If you are 'on the fence' about retiring and can afford it - just do it!

All the best.

Al

 

[snikr]

Great thoughts. I retired this past November after 39 years at one job and I'm loving it so far. Just wish I could lose some weight.

Tom

 

[JR'SFJR]

Great post Dr. Rich. I retired 5 yrs. ago at 61 and the way money has worked out, I wish we had gone out years earlier. It took us about a year to get our "things to do" in retirement working. She is traveled out, so I take off for 2-4 weeks. Did Alaska again and 2 tours of the Alps. I had shoulder surgery last summer, so that was the first summer in years I didn't do a long ride. I'm beginning to feel it in the joints, so I may be more inclined to load the bike in the truck, park in the mountains and ride a few days. Don't wait too long, it's the real deal.

 

[BikerGeek99]

If I play my cards right, I could get into another 20 year retirement job and have two retirements coming in by the time I'm 65.

For the record AJ, you suck.



Just for that, we just may have to call you in the middle of the night at Tech Day...

h34r:

I just retired at the end of March.

Congratulations! That's awesome, bud!!

Petey is my retirement hero. The dude is EVERYwhere. It's kinda creepy sometimes...

 

[Niehart]

"Petey is my retirement hero. The dude is EVERYwhere. It's kinda creepy sometimes..."

:clapping:

 

[beemerdons]

"Petey is my retirement hero. The dude is EVERYwhere. It's kinda creepy sometimes..."

:clapping:

Yeah but Andy and Dave, petey has never even been to Alaska; but I know that Nosecone has, John showed me his AK photos!

 

[rogdeb]

Good thoughts DrRich, and well put together.

I've been retired 11 years now, Deb a little longer (Sheesh !! Tempus Fugit), and we find we're absolutely busier now than when we worked.

A different kind of "busy" though, it's great. I retired as soon as my age and time of service allowed me. I could have waited longer (bigger payoff) but had seen, for most of my working life, a series of work mates who "stuck it out" for more money and didn't live long enough to appreciate it. Pretty sad. So ..... retire as soon as you can I say, even if you're not going to be rolling in cash. You'll enjoy what you have ( money, friends, family) for longer.

 

[jmdaniel]

Great thread. I'm 51, have been maxing out my 401K since '89, and am starting to wonder if I can kick out when I'm 60. I got laid off at the end of January, and the butt kissing work of looking for another job really makes me wish I wasn't. I think your point on not needing as much money as you think you do is starting to gain some traction. Here is a good recent article on the topic:

Clicky

 

[Jer]

I took and early retirement in 1994 and have never had a single regret. I have talked to people who claim that they couldn't find anything to do and so went back to work. I personally am mever bored and always can find something to occupy my time. Maybe it is because by spending summers in Oregon and winters in the southern desert of California I enjoy basically the same moderate temperatures year around. This gives me a lot of time to spend outdoors. Retirement, there is nothing like it. Wish you all could join me.

 

[user 6393]

jealous, I am.....

...me too! Is it time yet?!

You're likely a lil closer than I.

Life after divorce has set me on the "freedom after I'm dead" financial plan LOLOL

 

[Mike-H]

Not to piss anybody off.... (the reality is I don't give a rats a##)...I retired @ 39 the 1st time when I was offered an insane amount of money for my franchises ....it lasted 6 months, then I started a new venture.....that lasted 10 years when my partner (never do that again)....offered a fair sum for my half of the busniess....so I retired again....I thought it would stick this time.....but I found myself wheeling & dealing (cause I do really have fun doing it)....I also started teaching performance driving & riding schools (pavement & dirt) vintage racing/trials riding again.... what I guess I'm trying to say is if you really enjoy what your doing.... (especially if monetary compensation isn't an issue) & are having a blast.....are you still technically retired?......(inquiring old fart would like to know).....I also never thought I would be this busy

 

[Nosecone]

Woa Don.... just for the record, no I have never been to Alaska. But Petey has, twice. I have ridden many thousands of miles with Petey and once asked him why he never took any pictures. He said he had hundreds of pics from rides at home already.

Anyway, Petey earned his retirement. When he retired a few years ago he had 45 years with his company and was the third highest time employee. Me, I retired in '94 at age 60 which was mandatory retirement age at that time for those in my job at that time. It is now 65.

I do recommend retirement. It's a lot less stressful for most. Touring on the FJR is primo.

John