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Old 03-06-2016, 07:22 AM
 
Location: Central Massachusetts
4,800 posts, read 4,848,939 times
Reputation: 6379

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Quote:
Originally Posted by Giesela View Post
I've been worrying about all this so much. So many "you must have a plan" books, threads, people tell you how so many people die after retirement because they just sat on the couch. You must have an emotional, physical, activity plan. You need a social network, its all a catastrophe if you aren't apparently out being active and social and busy and with people and being fulfilled emotionally. I mean, yea, that would be great I suppose. But despite my very vague best intentions of "I will be able to go out and do all the things I don't do now" thoughts I have a suspicion that I won't become a different person in retirement. That I will still struggle with making things happen, being active, being social. I'm not sure you can change who you are just by not going to work everyday. I get why you need a money plan. But why is

First x number of months not working: wake up, drink coffee, read and watch tv just like weekends
eventually start to feel a little bored (probably)
venture out and find something to do

not a plan?

I like the couch. I like to read. I like tv. Am I going to die? I don't know.

So, if your finances are figured out, and it sounds like you have a amazing number of spreadsheets, I would consider the 'how you fill your days' part of it but I don't think you need a written plan. Unless you are the driven type and must fill your extensive bucket list type. In which case you would probably already have a spreadsheet for it.

P.S. My (usually unspoken but thought) response to thank you for your service is "dont' thank me, go serve" I think one of the biggest mistakes this country ever made was getting rid of compulsary service aka as the draft. I think we would be in a whole different place if we hadn't. A much better place.


Great point there. I like that response. I do somewhat differ in the compulsory service somewhat. Although I wish more would serve. I think an all volunteer army is a wondrous thing with a caveat. Only if it is supported properly and the political hacks do not make decisions based on getting jobs in their districts. Case in point. New weapon systems that are not needed or necessary at the expense of putting more soldiers in boots. We are down to the smallest military in terms of troop strength we have been in for as far back as I can think.


Oh BTW jrklny. I had friends that went to Vietnam and never came back and friends that did come back even as I was signing my name. Thank you for your service and thank God you came back.
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Old 03-06-2016, 07:28 AM
 
6,256 posts, read 4,734,369 times
Reputation: 12853
Giesela,


Interesting post.


I do think you underestimate your potential to change. Retirement is a major life change. That event alone can precipitate additional change if you look for it. If you want to drink coffee and sit on the couch, then you will have plenty of time for that.


Compulsory service might work out well. Of course, it needs to include everyone, not just males. Service could include options other than the military. But even military service without other options would be interesting. We would have a nation of people trained to shoot firearms. The entire population could directly consider the possible effects of war. Those who do not go on to college would at least have some training other than the time they wasted in high school. We would see young people forced to improve their stamina and general health. We would likely see some additional polarization of society. Some people accept discipline, subjugation and compulsory behavior well and "join the team." Others of us become at minimum gadflies or perhaps fullblown anarchists and revolutionaries.
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Old 03-06-2016, 08:54 AM
 
Location: Wasilla, AK
7,256 posts, read 4,143,320 times
Reputation: 15687
Quote:
Originally Posted by LookingatFL View Post
A couple of books about retirement and a few articles in the news mentioned that everyone should have a written retirement plan.

Thank you, everyone. I feel better knowing that it isn't common to write down plans.

I'm living my retirement on my terms, not some author's idea of how I should do it. I don't need some silly written plan to figure it out.
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Old 03-06-2016, 09:06 AM
 
Location: Los Angeles area
14,018 posts, read 17,740,386 times
Reputation: 32304
Quote:
Originally Posted by Giesela View Post
I've been worrying about all this so much. So many "you must have a plan" books, threads, people tell you how so many people die after retirement because they just sat on the couch. You must have an emotional, physical, activity plan. You need a social network, its all a catastrophe if you aren't apparently out being active and social and busy and with people and being fulfilled emotionally. I mean, yea, that would be great I suppose. But despite my very vague best intentions of "I will be able to go out and do all the things I don't do now" thoughts I have a suspicion that I won't become a different person in retirement. That I will still struggle with making things happen, being active, being social. I'm not sure you can change who you are just by not going to work everyday. I get why you need a money plan. But why is

First x number of months not working: wake up, drink coffee, read and watch tv just like weekends
eventually start to feel a little bored (probably)
venture out and find something to do

not a plan?

I like the couch. I like to read. I like tv. Am I going to die? I don't know.

So, if your finances are figured out, and it sounds like you have a amazing number of spreadsheets, I would consider the 'how you fill your days' part of it but I don't think you need a written plan. Unless you are the driven type and must fill your extensive bucket list type. In which case you would probably already have a spreadsheet for it.
................
Your sentence which I bolded contains a profound insight, in my opinion. You seem to know yourself well. Your "plan", while a little vague, is indeed a plan. Once you find yourself bored, that in itself will be the motivation for change. Until then, why worry about it? There is no need to get carried away by what a subset of the other posters think everyone should be doing.
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Old 03-06-2016, 09:57 AM
 
Location: Chicago area
14,398 posts, read 7,926,626 times
Reputation: 53523
Quote:
Originally Posted by mathjak107 View Post
the best thing about retirement is we have no written plan . we just have endless thoughts of the things we would like to do .

I retired when I just couldn't stand another minute of working. I never had a written retirement plan. I was just a good money hoarder, penny pinching workaholic with some reasonable investment skills.

We just got back from our third trip this year. We went skiing up in the U.P of Michigan. I skied this blue diamond that scared the crap out of me. At one point I couldn't see over the hill to see where the run went. I hit the spot where the black and blue run converged. I wouldn't have needed any written retirement plan had I not survived it. Nor would I have needed one after that scary climb to the Eban ice cave. It was intense even with ice cleats on, but so worth it.

You can plan away but all I did was total our monthly expenses on one side and totaled our income on the other side. It turned out that we don't spend near what we take in every month and that income does not include my social security, nor the other income payout coming up in another year or so.

Our savings accounts are pretty flush and I don't need a written retirement plan to figure out that it's enough money to supplement us a pretty hefty yearly amount for the next 20 years or more. It was a no brainer to retire, have fun, and barely survive skiing this year. Common sense. Well except for the skiing.

You go mathjak. Life is more then just a piece of paper. It's a useless if you don't know how to manage money.
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Old 03-06-2016, 11:06 AM
 
10,817 posts, read 8,065,019 times
Reputation: 17029
Quote:
Originally Posted by Giesela View Post
First x number of months not working: wake up, drink coffee, read and watch tv just like weekends
eventually start to feel a little bored (probably)
venture out and find something to do

not a plan?

I like the couch. I like to read. I like tv. Am I going to die? I don't know.
If couch-tv-reading are your thing it's best to nip that habit in the bud when you retire. No need for a written plan or goal (unless you find them helpful), just be aware of the number of hours you spend on that couch and make a conscious effort to cut them back.

DH & I have never been much for watching TV so we didn't have that temptation. But we're both bookworms and I'm a retired librarian. What we did was switch over to audiobooks, that way we can indulge our book love while doing chores, exercising, cooking, etc. The only time either of us reads a print (Kindle, actually) book is at bedtime.

We do struggle with sedentary internet time. Being partners helps, one of us will after an hour or so say "time to log off and get moving". Having a selection of audiobooks and podcasts handy gives us incentive. We grab our iPhones and earbuds and he goes outside to putter in the yard or garage while I find some household chore to do. We're members of 3 different libraries so there's never a shortage of free, good, instantly available books for listening! In addition to keeping up with current bestsellers and award winners, we enjoy listening to the audio versions of books we read 40-50 years ago. Some of them are even better in audio than in print - To Kill a Mockingbird, Alas Babylon, Deliverance, and Moby Dick come to mind. A literary critic once said "Harper Lee must have had Sissy Spacek's voice in her head while writing her novel", and we agree. DH is currently listening to "No Country for Old Men", a book we'd both tried unsuccessfully to read in print. He says the audio is great; as soon as he's finished I'm going to start it.
Sorry for the off-topic ramble, I'll close by saying we've listened to thousands of hours of books since retiring, and most of that time we were on our feet and moving. Win-win.
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Old 03-06-2016, 12:05 PM
 
6,623 posts, read 3,750,159 times
Reputation: 13698
Quote:
Originally Posted by jrkliny View Post
Did you read what the OP wrote? The OP has already put together financial, income and expense information. The OP was asking if other information, such as travel plans, should be written.
Yes. I was responding to this comment:
Quote:
Quote:
Originally Posted by mathjak107 View Post
the best thing about retirement is we have no written plan . we just have endless thoughts of the things we would like to do .
That poster was commenting that he didn't need a written plan...just lots of thoughts of what to do with all their money. As I pointed out in my response, his situation is not the norm and doesn't apply to most people's situation or the OP's situation, or whether a normal retiree should have a written plan. Since most retirees aren't rolling in dough so that they don't have to give it a thought besides thinking about how to spend it.
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Old 03-06-2016, 07:11 PM
 
Location: NE Mississippi
13,672 posts, read 8,580,903 times
Reputation: 19868
Quote:
Originally Posted by LookingatFL View Post
I've been reading that I should have a written retirement plan. I'm not sure what goes into it beyond financial information.

Currently I have a statement of net worth (with assets broken down by class and showing the percentage of the whole) and liabilities.

I have an excel spreadsheet showing my income and expenses (broken down by category and percentage of income) for each year since 2009.

I also have a spreadsheet showing where my retirement funds will come from and how much from each income source and the total amount expected.

Should I include my vague travel plans? and other vague ideas to keep myself busy?

Should it include my target age to apply for Social Security?

Should it include the age I plan to start researching CCRC's and other senior living options?

What exactly goes into these written plans beyond financial information and rebalancing information?
I've had written goals since 1970. I retired in 2010.
Don't let naysayers talk you out of it. Make the plan and make it happen.

As far as what should be included, well, that's up to you. There are no real rules for making a goal book. It's your book and you can do it your way. You can find suggestions for goal books all over the internet.
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Old 03-06-2016, 08:39 PM
 
Location: Paranoid State
13,047 posts, read 10,442,710 times
Reputation: 15683
Quote:
Originally Posted by golfingduo View Post
What happens if I don't want to accomplish anything? That all I want to do is go out on the golf course or hike the mountain pass or fish in a nice quiet cove with no goal in mind except to just enjoy myself?
The way I'm using the word "accomplish" encompasses golf & hiking & fishing. However it is clear that the word "accomplish" carries a negative connotation here, so let me dump it.

So, in my case, I had a goal (or plan or desire or whatever) to volunteer at the Sundance Film Festival this year. I volunteered about 30 hours. I also had a desire to see several of the films that premiered at Sundance -- I saw about 20 films over the course of the 10 day festival.

I also have a goal to ski -- I'm may just hit 1 million vertical feet this season. That's a goal/desire.

This summer I plan (or hope or desire) to enter the WSOP and play in the Omaha 8 tournament.


So, I needed to plan to be in Park City during ski season and the Festival, and to be in Las Vegas this summer.


That's what I mean by the side of retirement planning that isn't about a spreadsheet.
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