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Plan B was my real estate license when I got too bored or needed money. Haven't needed it yet but still keep it renewed.
Biggest problem we have is finding enough space on our calendar to write in all our appointments and activities in order not to forget anything we have planned.
Did you plan for retirement? If so, how did you plan? What did you do when your plan didn't work?
How so, "plan"? Are you talking about financial planning, lifestyle planning, or planning for relocation?
Huge difference, even though one thing can impact the other depending on circumstances.
Retirement, for me, was not substantially different from how I thought it would be. Some of the specifics of how I now spend my time were unforeseen, but I don't think that's what you mean.
I did no financial planning in the commonly understood sense of that term. I worked for 34 years in a career job, and when the point came where the pension was adequate to live on in normal but not lavish comfort, I retired. I also had my own savings, but that's not something I "planned"; it was just a way to live (spent less than I earned) - I couldn't have lived any other way and still felt comfortable.
I did no lifestyle planning either. I always had plenty of outside interests and I figured, correctly, that those would be fine.
I did no relocation planning either because I know I wanted to stay put after retirement.
So here I am, an example of someone who DID NOT PLAN, but whose retirement turned out to be more than satisfactory. I continue at age 73 to be active and engaged with the world in ways I enjoy. There are no financial worries whatsoever, but then I don't buy or want designer clothes or drive Ferrari automobiles. (Well, maybe in the latter case I "want", but I don't waste any time regretting).
Like Escort Rider I didn't really plan either. I worked in a career that provides me a very good pension and saved pre-tax money to about 12% of my income (includes match). We didn't spend our income each month. We took real estate risks buying a couple of distressed homes and turned them around to give family a leg up. We also worked hard earning money some times on a 1099 and in the later owning a plastics factory that employed a few people. We took no wages from there but did use the business to claim a lot of stuff that we would not be able to otherwise.
When it came time for me to retire last year I left and didn't even think anything about it. My income just came from different sources but we didn't skip a beat. As far as how different it was from my time working, I have to say this life is much better. I am busier than I was when I worked having more time to do stuff around my house. More time to golf. More time to plan my next trips.
In retirement we are doing a bit of a lifestyle change though we will not be living life extravagantly taking luxury trips. But we will take many trips to many destinations. The trips will be to enjoy life and see things we never got to see before. Trips to try new foods, and new experiences.
Prior to retirement, we really didn't discuss our life post work but now that I have made the move and the wife is about to do the same we have discussed what our lives are going to be like. We took inventory of our assets and determined that all in all we did a good job getting to the point we are. We were lucky and had good health. Now that we are here we are not disappointed either with our circumstances.
I planned for retirement financially and was moving right along but them life took over and squashed those plans. But that's okay, I think I pretty much made lemonade out of the lemons I was given.
So that aside I would say that retirement has been better than I imagined. I knew while I was working I would love to have the time and the freedom to do what I wanted with it but I really didn't realize how much that would affect me. It's better than I thought it would be. Sometimes I think my brain goes into working mode even though I've been retired for five years and I a flash of "I have to be there" comes through. Then I remember, "No, I don't." I can relax Sunday night knowing I can do whatever I like on Monday.
I moved to an affordable city to an affordable apartment and do affordable activities. Other than my health which I wish were better, I am happy to be living as I'm living. Work is mostly a distant memory I have in a an unguarded moment. Money, well, there's enough, can't complain. It wouldn't do me any good if I did so why waste the energy?
We got tired of city life, so we moved to the country. We were concerned about food additives, hormones and chemicals, so now we raise our own meat, fruit, and vegetables. I was too stressed out running my former business, so I sold it.
These plans were not made of whole cloth, all at once. We took our time, and often had to zig when we had planned to zag. So far, the pieces have all fallen into place. But life is a long, drawn out process, and it isn't over with yet for us. I expect more surprises, but we can deal with them.
We got tired of city life, so we moved to the country. We were concerned about food additives, hormones and chemicals, so now we raise our own meat, fruit, and vegetables.
Good on that move. We've been small town/ rural for the last 30 years. As for the food thing, if you started the pure food thing at age 66 it is probably too little, too late. But who knows, can't hurt.
As far as the OP's question. I probably should have consulted the folks of wisdom here five years before I retired. The income aspect is fine. But the psychological adjustment. That thru me. I'm good now, but went thru some hard stuff for about 6 months. Seems I needed more than just hobbies and visiting friends. My job turned to poop the last year of employment so it was right and good that I retired when I did.
Moral of the story is that for some, plan for the adjustment and not just the financial stuff.
Did you plan for retirement? If so, how did you plan? What did you do when your plan didn't work?
My plan for retirement was pretty simple and it was to enjoy spending time with my husband but sadly he passed away 16 years ago. Had he lived today would have been our 31st anniversary. I was able to pick of the pieces of my life and move forward and have been blessed in many ways with the passage of time. But loosing my husband suddenly and at a young age I learned not to plan too far into the future and make the best of each day as it comes because tomorrow is not guaranteed.
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I was able to pick of the pieces of my life and move forward and have been blessed in many ways with the passage of time. But loosing my husband suddenly and at a young age I learned not to plan too far into the future and make the best of each day as it comes because tomorrow is not guaranteed.
