Retirement Plans?

[Photojeep]

I didn't want to hijack another Retirement thread by asking this question so I figured I'd just start a new one.

I will be retiring in June of 2023 and being somewhat of a planner/worrier, I've been reading just about everything I can find about retirement and its ramifications.

I'm on track financially for this transition and even though my wife has been retired for 10 years now, I'm wondering what to expect when the big day comes. She and I are very happily married but are also very different people so her idea of my retirement and mine may be somewhat different.

For those of you who have retired, how did actually being retired compare to what you thought it would be? Is it better? Is it worse? What was the biggest adjustment?

As I've spoken to various people about retiring, everyone always asks, "So what are you going to do?" And to be frank, I'm not really sure what I'll do. I know there will be more guitar playing and photography time but I'm not sure about any real "plans"...

I suppose because I'm still working I'm having a hard time thinking how I'll fill my days.

Thanks,
PJ

[RP]

Originally Posted by Photojeep

...For those of you who have retired, how did actually being retired compare to what you thought it would be? Is it better? Is it worse? What was the biggest adjustment?

As I've spoken to various people about retiring, everyone always asks, "So what are you going to do?" And to be frank, I'm not really sure what I'll do. I know there will be more guitar playing and photography time but I'm not sure about any real "plans"...

I suppose because I'm still working I'm having a hard time thinking how I'll fill my days.

Thanks,
PJ

At this point, PJ, you really don't need any plans as to how to fill your days. Believe me, that will take care of itself. For me, retirement has been much, much better than I'd anticipated. Sure, I had some ideas as to what I'd do; but they got scrapped pretty quickly. The absolutely best thing about retirement has been that I get to do whatever I want on any given day, which for me is going swimming at an indoor pool, playing guitar, afternoon naps, etc. We went to the beach last week based on great weather and beating the Memorial Day rush. We went to Sanibel Island (Florida) in March. But I don't believe that the best thing about retirement is the bucket list kind of stuff - it's about getting paid to do anything you want or nothing at all on any given day...

[john57classic]

First on the “what are you going to do” questions, I rotated through these 3 answers:
- whatever I want
- I can’t wait to find out
- about what? (My personnel favorite)
Of course I’m sure you personality is different.

For me leaving the rat race was better in almost every way than I thought but two watch outs
You will likely be spending much more time with your spouse, only you can evaluate that and
You are likely going to lose a certain sense of urgency since most things really can wait til tomorrow. So just be conscience of that.

Let the countdown begin!

[raysachs]

Originally Posted by Photojeep

As I've spoken to various people about retiring, everyone always asks, "So what are you going to do?"

Nobody's who's been retired for any period of time has ever asked you that question, though, I'd bet. I've been retired a while and anytime I talk to any of my friends who are also retired, the general sentiment is "I don't know how I ever had time to work"!

Retirement has been better than I ever imagined it would be. And now that my wife is retired too (she started working full time later than I did and stayed at it a few years longer) it's even better. Our disposable income is less than it's been in a very long time, but time is the one thing there's an absolutely finite amount of and having control of our own is the greatest luxury on earth. We've been incredibly fortunate and were able to both retire short of the Social Security and Medicare age, so once those kick in, things should be less tight financially.

You will find things to do. Even if some days it's just puttering around. Or playing guitar more. Or riding your bike more. Or doing more photography. Or serving more meals at the homeless shelter. Or whatever you like to do.

That said, there's a transition. When I first retired, I was in absolute bliss for about 6 months. Then I got bored. Then I started my own consulting gig doing part time for myself what I'd been doing full time for others. Did pretty well for a few years and then finally got sick of answering the phone and chasing more work. And just stopped and haven't had any desire to start up anything of the sort again. I think the transition is different for everyone, but you don't just totally and radically change your routine after 30-40 years without an adjustment. So don't freak out if you don't love it right away, or if you do, but then you don't. You have every option in the world to help yourself through it.

Enjoy!

[CoryB]

By your forum name I'm going to guess you have a Jeep. And you like photography and guitars.

You should NEVER be bored.

I retired in 2010 and built a Factory Five Roadster (Cobra copy) as the Cobra was a lifetime dream car for me.

Nowadays I volunteer in my son's gun store, work around the house, play guitar and bother my wife.

[Silly Moustache]

Originally Posted by Photojeep

I didn't want to hijack another Retirement thread by asking this question so I figured I'd just start a new one.

I will be retiring in June of 2023 and being somewhat of a planner/worrier, I've been reading just about everything I can find about retirement and its ramifications.

I'm on track financially for this transition and even though my wife has been retired for 10 years now, I'm wondering what to expect when the big day comes. She and I are very happily married but are also very different people so her idea of my retirement and mine may be somewhat different.

For those of you who have retired, how did actually being retired compare to what you thought it would be? Is it better? Is it worse? What was the biggest adjustment?

As I've spoken to various people about retiring, everyone always asks, "So what are you going to do?" And to be frank, I'm not really sure what I'll do. I know there will be more guitar playing and photography time but I'm not sure about any real "plans"...

I suppose because I'm still working I'm having a hard time thinking how I'll fill my days.

Thanks,
PJ

Two BIG changes occur.

1. A radical change to income. (which is often very scary).
2. That perennial question "what are you going to do?"

1. As a friend told me "it costs a lot to go to work!" - Yup, True; a clean shirt every morning, clean suits, shiny shoes, commuting costs, entertaining costs, that drink you need when you finally get home. All these become unnecessary.

You need to plan your finances of course, and you are no longer saving - just ensureing that the money you have saved works as hard as possible.

2. This is really just about your future direction - people who spend 40 plus hours working cannot understand that the freedom to not have that constant demand.

The answer is "what I want, when I want".

When I was out of work, I worked very very hard at getting back into work, in face I worked a 40 hour day, and I was a harsh (self) manager (although I maintained that I wasn't out of work in the evenings and weekends.
When my work finished, I do pretty much what I do now (ten years later).

monitor my bank balance, answer emails, waste time on fora, and have breakfast when I want.
I play my music when I want.
I (used to ) take my wife out for a meal once a week/fortnight, go to the theatre, and to concerts, sometimes just go out to a nice pub for a glass or two.
I grow my own veg, and ....sometimes, I just mooch about.
I get up when I feel like it and go to bed, same.

This business abut "wondering how I had time to go to work is a bit of a misnomer - fact is you slow down. Nothing has a timetable.

Enjoy!

[jpd]

Originally Posted by Photojeep

For those of you who have retired, how did actually being retired compare to what you thought it would be? Is it better? Is it worse? What was the biggest adjustment?
everyone always asks, "So what are you going to do?" And to be frank, I'm not really sure what I'll do.
Thanks,
PJ

PJ......I still get asked "What do you do?" all the time. After years of answering it, I have narrowed the answer down to this...EVERY DAY IS DIFFERENT BUT ONE THING IS CONSTANT-I NO LONGER WORK TO SURVIVE! I get some funny replies, mostly from those closing in on retirement with no outside interests and or goals. The best thing , if you're financially and emotionally set up, is you are joining the best club in the world

[leew3]

PJ, I could have written your post as my situation is nearly identical. I would only add that I'll be over my full retirement age and could retire in June of 2023, we'll see whether I still feel like doing it at that time. As an academic I get some practice each summer answering that 'what are you going to do' question. I"m delighted to find each time that my wife and I enjoy each others' company nearly 24/7, there are plenty of things to do, and that I still enjoy my work when I return to it. I look forward to being in a position of working if I choose.

[Mr. Jelly]

I think it's a good thing that you are searching for some answers now. I have been partially retired for years now but I'm coming up to my final date next month. It's like crunch time and a little scary. Having asked myself the same question the answer dawned on me the other day. What I really want to do, what I have been wanting to do most of my life is not be hampered by schedules and responsibilities. I'm a real responsible person but it drives me nuts now. Like PTSD. The actual things I like to do aren't looked on as important unless taken to some kind of business level. Which would be the opposite of where I want to be. I want to make sculptures, write, spend more time in nature as in walks, photography and bike rides and camping. Guitar of coarse and do a show here or there, only with material I like though. Feed the birds and tend my garden and pray. So what am I going to do? Nothing Though we all know life's challenges will interject itself from time to time.

[FLRon]

Originally Posted by Photojeep

I didn't want to hijack another Retirement thread by asking this question so I figured I'd just start a new one.

I will be retiring in June of 2023 and being somewhat of a planner/worrier, I've been reading just about everything I can find about retirement and its ramifications.

I'm on track financially for this transition and even though my wife has been retired for 10 years now, I'm wondering what to expect when the big day comes. She and I are very happily married but are also very different people so her idea of my retirement and mine may be somewhat different.

For those of you who have retired, how did actually being retired compare to what you thought it would be? Is it better? Is it worse? What was the biggest adjustment?

As I've spoken to various people about retiring, everyone always asks, "So what are you going to do?" And to be frank, I'm not really sure what I'll do. I know there will be more guitar playing and photography time but I'm not sure about any real "plans"...

I suppose because I'm still working I'm having a hard time thinking how I'll fill my days.

Thanks,
PJ

Whatever else you do,make a plan for how you will spend some part of your day. I planned well financially but gave little thought to what I would actually do once retired. Believe me,when you go from 120 mph to a dead stop it messes with your mind.
I'm glad I retired,but I have struggled. Just keeping it real.

[AX17609]

No one on this this forum will admit to anything other that being blissfully happy with retirement, but population surveys do not support the experience of this limited population. Beyond income and health concerns, a significant portion of the retired population suffers from boredom, a lack of utility and poor social interactions. I've shared my particular story here a few times only to get shouted down by the masses here, so I'll just keep my mouth shut. Suffice it to say that you should not overlook the 'what am I going to do' question.

[RP]

Originally Posted by AX17609

No one on this this forum will admit to anything other that being blissfully happy with retirement, but population surveys do not support the experience of this limited population. Beyond income and health concerns, a significant portion of the retired population suffers from boredom, a lack of utility and poor social interactions....

I think that the difference between "blissfully happy" and boredom/lack of utility/poor social interactions is the degree to which your vocation met those needs. My chosen field - Special Education teacher - failed to meet those needs after the first couple of years so after nine years in retirement, I am:

A. Blissfully happy
B. Anything but bored
C. Replete with utility (whatever that means)
D. Am as socially engaged as I care to be....

[AX17609]

Originally Posted by RP

I think that the difference between "blissfully happy" and boredom/lack of utility/poor social interactions is the degree to which your vocation met those needs. My chosen field - Special Education teacher - failed to meet those needs after the first couple of years so after nine years in retirement, I am:

A. Blissfully happy
B. Anything but bored
C. Replete with utility (whatever that means)
D. Am as socially engaged as I care to be....

I'm wonderfully happy for you.

[raysachs]

Originally Posted by AX17609

No one on this this forum will admit to anything other that being blissfully happy with retirement, but population surveys do not support the experience of this limited population. Beyond income and health concerns, a significant portion of the retired population suffers from boredom, a lack of utility and poor social interactions. I've shared my particular story here a few times only to get shouted down by the masses here, so I'll just keep my mouth shut. Suffice it to say that you should not overlook the 'what am I going to do' question.

Fair points.

I tend to be an introvert, so being around people all day every day was more exhausting to me than energizing. I was really happy to get away from that and having more alone time. I live in a small town so I'm always running into folks on the street and taking five minutes to catch up and I know people in almost every shop and restaurant. So between that and spending time with my wife, and the occasional evening out with friends, I don't miss the constant social interaction. Some folks surely would.

Income and health concerns are real - income is an issue for many, but not all - a lot of us who are retired wouldn't be if we weren't in fairly good shape economically. And being on a guitar forum where multi-thousand dollar guitars are the norm makes this a somewhat self-selecting economic demographic in that regard. But everyone's gonna have health concerns at some point - it just goes with getting old.

In terms of boredom, I found myself bored a fair amount early on. And I ran into a friendly ex-coworker on the street one day and mentioned boredom when she asked me how I was liking retirement. She made the point that she'd been bored a lot of the time during her 30 year career and that I at least had every option in the world for ways to overcome it now that I was in control of my time and activity. I took that to heart and I learned to embrace the occasional boring day, treating it as the luxury it was rather than a problem. And over time, I just found myself busier and busier and either rarely bored or I've just adapted to it well enough that it doesn't FEEL like boredom anymore.

It would be overstating to say I'm blissfully happy every day now that I'm retired - I'm still human after all. But on balance I AM much happier on a day to day basis than I was in the last few years of my career. I got to the point where I'd had enough and had the means to bail, and I'm extremely grateful for having had the option.

[Basalt Beach]

Originally Posted by Photojeep

For those of you who have retired, how did actually being retired compare to what you thought it would be? Is it better? Is it worse? What was the biggest adjustment?

My self imposed unemployment (retirement) began over two years ago. It came with an unexpected buyout offer (36 days from acceptance to unemployment) and before that offer, I thought would work four or five more years till I turned 62 or so. I had no expectations, good or bad, during the 36 days to ponder it. I only knew that I could write my own script. I spent the first six weeks windsurfing and playing more guitar! When the wind died (end of windy season), I had to spend the time to figure it out.

The "better" is I now get to write my own script. The "worse" was realizing I had to create and figure out my own script. Self imposed unemployment (retirement) is what you choose it to be. Your attitude is everything. The time and effort you put into writing your script will reflect in your results.

Re-adjusting my focus was my biggest adjustment along with learning to create my own script.

So, I can tell you two years into the journey, it is definitely better. I spend more time with better half. Together, we windsurf more, hike more, travel more, cook more, read more, play more guitar, kayak more, and bike every day. Last week, we just purchased our season lift tickets for next winter, so we will make numerous trek's to the mountains next winter. My work life came with its own set of social interactions. Now, those social actions must be initiated by me. It takes time and effort however the results are worth it.

Best of luck to you as you head down this path. Life is a journey, so enjoy it.