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Thanks, Everyone. I've got my work cut out for me to sort out your advice. I have carefully read each of your responses, and I am sorry I was not able to comment on them all. Seeing my knee doctor today.
I request the Moderator to close this thread to additional comments.
Knee replacements lasting 20 years may be based on how they were doing them 20 years ago. I have heard that the ones they are doing now may last 30 years or more.
Even if it were only 20, at age 58, means you wouldn't have to get a second one until you are 78. By that time,you may have other issues that make the knee issue seem trivial, if you are still alive.
I would not let the 20, or even if it were 15, year expected length of time be a factor if you can get rid of the pain now.
You are right, most people will not feel sorry for you, as by comparison you are in a good situation financially compared to many. I understand boredom and loss of mobility causes a struggle mentally, it is similar to a grief process.....adjusting to losing your daily living skills as you knew them.
One thing that I have found to help is to find an area of interest and seek volunteering opportunities. It is amazing how our focus can change when we are helping others who often have much less than ourselves.
If you will sit down and on paper list the skills and life knowledge you have acquired, then having listed those skills, and compare those to your personal areas of interest, and your researched volunteer opportunities.....you may find yourself in the position to help folks in need. It really does help us personally when we help others. Something about volunteering enhances our inner strengths, and our resolve and transfers into a better mental outlook. I hope you consider this.
Even if you do not feel that you can physically maneuver outside your home, there are ways to volunteer from your computer.
Nope, I don't feel sorry for you either so need to loose sleep over that one. Have you thought about doing some volunteering? Sounds like you really need to see how some folks have to live because they didn't make some of the smart choices you apparently did. I'm 69, have COPD, lots of aches and pains but I wouldn't trade it for your situation. Just a prime example that money can't buy everything. Good luck...get to that doctor and start living and volunteering!
When things really get low, I've found that over the years I've started to attend the churches in whatever area I was (including Afghanistan).......gave me a different perspective on life and often got me to appreciate what I had at the time. Sometimes that's the best thing during times when you feel low.
Exercise also helped me, as I've posted earlier.
Church can open up opportunities to assist your community (ie teaching underprivileged kids to read, work at the hosp a volunteer, visiting nursing home, shut-ins, etc)......also a way to meet others.
When things really get low, I've found that over the years I've started to attend the churches in whatever area I was (including Afghanistan).......gave me a different perspective on life and often got me to appreciate what I had at the time. Sometimes that's the best thing during times when you feel low.
Exercise also helped me, as I've posted earlier.
All of the above suggestions are fine with a mild case of the blues or loss of perspective. However, it is clear to me that people don't get how clinical depression works or feels. If that is true for anyone, you are indeed fortunate. I know both personally and professionally that deep depression does not call for a brisk walk around the block or an assessment of how bad things are in another place. I know all that. But the feeling of, as writer William Styron said, "a sh*tstorm in the brain," where you lie on the floor for days at a time and don't get dressed, where you can't remember one thing in detail, when it feels like your veins are on fire and your life energy is flowing out your limbs and not replaced... I could go on and on describing my mid-20s but you get the idea.
If the OP has depression to a certain degree, there have been many unthinking and cruel comments. But that is common with depression too. If depressed to anywhere near the level I describe, one must get medical help.
I've worked a few clinics over the yrs (as a nurse) - my physicians used SIG-E-CAPS as a mnemonic for assessing for depression:
S leep changes: increase during day or decreased sleep at night
I nterest (loss): of interest in activities that used to interest them (incl sex drive)
G uilt (worthless): depressed elderly tend to devalue themselves
E nergy (lack): common presenting symptom (fatigue)
C ognition/C oncentration: reduced cognition &/or difficulty concentrating
A ppetite (wt. loss); usually declined, occasionally increased
P sychomotor: agitation (anxiety) or retardations (lethargic)
S uicide/death preocp.
Perhaps a self-assessment/self-referral is in order.....
Here's my situation:
Today is my 1 year Retirement Anniversary. I retired early and live on a severance and savings because it was obvious my boss wanted to be rid of me. I find my self with a nice 3 story townhome too big for me that is mortgage free (worth 420K), filled with my possessions and collections I love, and few friends. I have saved 1.5 mill in retirement and non retirement savings. I traveled extensively internationally on vacation from July to February, and now I have nothing to do. In February, I developed L. Knee pain which has worsened into painful osteoarthritis. I now limp and sometimes need a cane to walk. I cannot work in this condition if I wanted to.
I was thinking of spending the next year selling off all my possessions in the house; getting the deck repaired, then putting the house on the market next June. I would like to take a round the world cruise. I would settle in my hometown in Canada to receive free health care (I am Canadian, with dual citizenship with US pending this year). I would then snowbird to Arizona or Florida in the winter and visit my 2 sons and grandchildren while back in the US.
This is the best plan I could come up with , but I wonder if depression is clouding my thinking . I am not expecting anyone to feel sorry for me and I have received mental health counseling/medication. Some may feel I shouldn't complain. I do feel this is a good example of senior years not being what you expected. I am totally bored and everyday is the same. My knee hurts. I never expected not to be working at 58.
My suggestion is to get into cycling. If you cannot cycle, get a stationary bike and move up to it. Don't let anyone tell you you cannot cycle. There are also bikes called Recumbents which might suit you better. Don't give in to this old people disease so easily by planning your life and vacations around pleasure that omits physical activity. Almost all of our pleasure involves some level of physical activity.
Hits two birds with one stone
Last edited by NinaLovesCliff; 06-17-2017 at 08:19 PM..
I agree with other posts, you should seek medical attention to reduce or eliminate your pain. You might also consider trying Acupuncture, which can reduce or eliminate pain.
You should consider leaving your job, even though that decision was forced on you as an improvement in your life. Some managers are pure garbage, and you shouldn't be working for them. Fortunately, you've saved up a lot of money, and paid off your mortgage. A multi-story home is not compatible with someone that has knee problems. You need a single story home or to have an elevator installed. You might be able to have an elevator installed for about $25K. Cheaper elevators exists, sometimes they are more expensive.
If you follow the 4% rule, you should be able to generate about $60K per year with that $1.5M. Add that to your other income streams. You might check with your financial adviser if you are invested properly. Be careful of financial advisers at banks who want to sell you crappy, high commission products. What is your recent return? Our year to date return is about 8.5% and our rolling one-year return is a little over 14%. If your money is invested carefully, you should be able to realize a decent return. But that also depends on your risk tolerance too. Over the past 20 years, including the downturns, we see about an 8% return. Although we lost a lot of money in the downturns, the losses were all erased by holding though the bad years.
I know exactly what you mean. After you accumulate your first million, other people think you are rich. But you don't feel rich at all. You might feel comfortable, but you don't feel rich. Maybe it takes 10 or 20 million or more, to feel rich.
You do have enough assets to retire at 58, although you need to be careful. Why do you think you need to work? Is it because you are bored? When I was a kid, I made the mistake saying to my parents I was bored. My parents always found work for me to do around the house. I quickly learned to never, ever say I was bored. If I retired tomorrow, I'd never be bored. My wife's been retired for a year, and she's never bored.
I think you should address your pain problems first, and do what it takes to fix those problems, without simply going on pain medication. Then get some hobbies. I think living in a 55+ community might help. Fix your multi-level housing problem too. If you're making less than $60K per year on that $1.5M, you're not invested correctly, especially in the past year. You might also consider moving to an income tax-free state if you become a US citizen. I'm not sure how that would work if you are a Canadian citizen. The rules for Canadian citizen who winter in the US are different that US citizens. You many be limited to 120 days per year over 3 consecutive years in the US. Exceeding the limits could cause US income tax to be due or could get you barred from the US for 5 years.
Many people are much worse off than you are, in more pain, and do not have the financial resources you have. I think you should concentrate on recovering from your pain, or at least reducing the pain without being addicted to pain medications. Then move on with your life. There's more to life than working, if you can afford to retire.
I've worked a few clinics over the yrs (as a nurse) - my physicians used SIG-E-CAPS as a mnemonic for assessing for depression:
S leep changes: increase during day or decreased sleep at night
I nterest (loss): of interest in activities that used to interest them (incl sex drive)
G uilt (worthless): depressed elderly tend to devalue themselves
E nergy (lack): common presenting symptom (fatigue)
C ognition/C oncentration: reduced cognition &/or difficulty concentrating
A ppetite (wt. loss); usually declined, occasionally increased
P sychomotor: agitation (anxiety) or retardations (lethargic)
S uicide/death preocp.
Perhaps a self-assessment/self-referral is in order.....
Absolutely. I am depressed. It has prevented me from thinking positively about my life and what to do next.
Dave Phan--Advice much appreciated. I haven't started withdrawing yet, but I will next year. My return is about the same as yours. I no longer work as of 1 year go, that is what set me off into this spiral. I need to live in Canada for continuously for 3 months to get Healthcare. As a dual citizen you can stay as long as you want in both US and Canada. Taxes are still liable in the US if I choose to live in Canada. There is a treaty so you don't get double taxed. I am addressing my pain. Since surgery is not indicated, I am taking NSAIDS, getting regular walking exercise, and eating properly to lose weight. I feel better since I posted this post. I know I need to move, but it takes time to plan. Right now , I am looking to declutter/downsize and get ready for an eventual move. To rush out of my home without a well thought out plan would not be in my best interest. I am living very cheaply here with no mortgage, and a very low H/O fee. All amenities are across the street, including our lovely pool complex. Everything else a short drive away, including Washington DC. Bus stops in several directions nearby. Any move I make will end up making me shell out more each month, even if I buy a condo outright. Its takes a lot of time to do the required research about over 55 living, possible communities, selling household contents etc. Lifting the depression is important so I can see clearly and feel more hope for the future. Yes I need hobbies! I have already looked into volunteering this week, and it seems there are a lot of opportunities in my area.
I agree with other posts, you should seek medical attention to reduce or eliminate your pain. You might also consider trying Acupuncture, which can reduce or eliminate pain.
You should consider leaving your job, even though that decision was forced on you as an improvement in your life. Some managers are pure garbage, and you shouldn't be working for them. Fortunately, you've saved up a lot of money, and paid off your mortgage. A multi-story home is not compatible with someone that has knee problems. You need a single story home or to have an elevator installed. You might be able to have an elevator installed for about $25K. Cheaper elevators exists, sometimes they are more expensive.
If you follow the 4% rule, you should be able to generate about $60K per year with that $1.5M. Add that to your other income streams. You might check with your financial adviser if you are invested properly. Be careful of financial advisers at banks who want to sell you crappy, high commission products. What is your recent return? Our year to date return is about 8.5% and our rolling one-year return is a little over 14%. If your money is invested carefully, you should be able to realize a decent return. But that also depends on your risk tolerance too. Over the past 20 years, including the downturns, we see about an 8% return. Although we lost a lot of money in the downturns, the losses were all erased by holding though the bad years.
I know exactly what you mean. After you accumulate your first million, other people think you are rich. But you don't feel rich at all. You might feel comfortable, but you don't feel rich. Maybe it takes 10 or 20 million or more, to feel rich.
You do have enough assets to retire at 58, although you need to be careful. Why do you think you need to work? Is it because you are bored? When I was a kid, I made the mistake saying to my parents I was bored. My parents always found work for me to do around the house. I quickly learned to never, ever say I was bored. If I retired tomorrow, I'd never be bored. My wife's been retired for a year, and she's never bored.
I think you should address your pain problems first, and do what it takes to fix those problems, without simply going on pain medication. Then get some hobbies. I think living in a 55+ community might help. Fix your multi-level housing problem too. If you're making less than $60K per year on that $1.5M, you're not invested correctly, especially in the past year. You might also consider moving to an income tax-free state if you become a US citizen. I'm not sure how that would work if you are a Canadian citizen. The rules for Canadian citizen who winter in the US are different that US citizens. You many be limited to 120 days per year over 3 consecutive years in the US. Exceeding the limits could cause US income tax to be due or could get you barred from the US for 5 years.
Many people are much worse off than you are, in more pain, and do not have the financial resources you have. I think you should concentrate on recovering from your pain, or at least reducing the pain without being addicted to pain medications. Then move on with your life. There's more to life than working, if you can afford to retire.
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You're kidding....
