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Old 09-30-2017, 05:39 PM
Status: "Loving life, wife and job!" (set 22 days ago)
 
Location: USA
1,005 posts, read 394,403 times
Reputation: 2730

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Retirement is somewhere between May and July of next year. Not born into money - I've been working since I was 13. My (second) wife and I watch our money like hawks. Everything is budgeted and we talk about where we are relative to our spending once or twice a month.

No debt, a fair amount of savings. We live somewhat modestly - 1500 sq ft home, remodeled, new AC, roof will be replaced within 5 years. We love our little house but we'd like to be closer to family. That only leaves mine in AL since her's are in Brazil. Brazil isn't out of the question but there's literally no chance of moving there. I don't want to be a "gringo target" for the rest of my life.

I used to do long distance cycling and own a few nicer watches. I do mostly Sat morning rides with the local club. We like to travel but it seems 95% of the time, we're going to see family. My wife loves to quilt so I'm sure that'll be her passion once she retires. That likely won't occur until she hits 60 - a few years after me.

The various retirement calculators say we're in great shape for retirement. I have a small pension, my wife will have a "car payment" pension and we have moderate tax-deferred investment accounts. I'm not taking social security until I'm 70 - that my wife will need that payment once I'm gone.

The thing is, both of us feel so guilty when we spend money for ourselves. We still do it but only in moderation with a fair amount of guilt. And, before someone asks, one of us is Catholic so there's that. lol We support my MIL 100% financially - she's 81 and lives in Brazil. If I had to guess, that payment will be necessary for maybe 5 years or less. That payment is more than our mortgage payment when we had one.

I don't expect to be "reborn" when I retire - old habits die hard but at what point did you realize, "I got this - I can relax a little now. We made it."?
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Old 09-30-2017, 09:44 PM
 
Location: New Mexico
6,651 posts, read 3,704,259 times
Reputation: 12516
Quote:
Originally Posted by k7baixo View Post
The various retirement calculators say we're in great shape for retirement. I have a small pension, my wife will have a "car payment" pension and we have moderate tax-deferred investment accounts. I'm not taking social security until I'm 70 - that my wife will need that payment once I'm gone.

I don't expect to be "reborn" when I retire - old habits die hard but at what point did you realize, "I got this - I can relax a little now. We made it."?
Having the jitters is normal. Moderation is good. Sounds like things are planned out. You have home equity, pensions, social security, few expenses. You will become more comfortable over time.


My wife was a little more jittery than I was but we both got part-time jobs mostly for pocket money and social contacts. Our daughter was in college so we had that expense which made her nervous. We did OK from the start and I'm still doing OK (as a widower) and manage to save a little each month beyond what I have in my (almost untouched)retirement accounts.
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Old 10-01-2017, 08:00 AM
Status: "Loving life, wife and job!" (set 22 days ago)
 
Location: USA
1,005 posts, read 394,403 times
Reputation: 2730
Thanks for that. I appreciate your taking time to respond and I'm sorry for your loss. I'll bet having a daughter in college was on-par with a MIL in Brazil! You made it though - we can also.

Some days, I'm comfortable but others, not so much. My wife had a mild panic attack last Friday. She's getting ready for a short trip to Brazil and was worried about the money she spent. I walked her through our month end closing (yeah - I know) and showed her that we were fine. We saved the full amount allotted for Sept and are on-track for our year-end goal. (Yeah, I know II).

I'm thinking about going into middle school teaching for a few years. Can't decide if the cost/benefit of getting certified is worth it so maybe I'll simply substitute for a few years. That'll keep me engaged, busy and around kids which will either kill me or invigorate me until she retires. My undergrad was in engineering and I'd really like to show the kids that they don't have to love math to be successful. After 4 years in the service, my first pre-calc class was nearly a disaster but for a young lady who spent about two weeks getting me on-track. After that, it went fairly well. Math is just a tool. Nothing more, nothing less.

I've also got a project underway which could pay-off huge. In some circles, it'll make me a hero but in others, a hated man. That very much like my current job. I can't focus on that until I retire though. At times, I think I may be busier than while working - and that's not a bad thing. I just need to get over this whole 'retired' label and accept that it's time to move onto something different.
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Old 10-01-2017, 09:16 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,697 posts, read 40,084,074 times
Reputation: 23860
Default !

Quote:
Originally Posted by k7baixo View Post
Thanks for that. I appreciate your taking time to respond and I'm sorry for your loss. ...
Some days, I'm comfortable but others, not so much. ... I just need to get over this whole 'retired' label and accept that it's time to move onto something different.
You are not 'retired' just "Between Jobs" (One that paid wages and one that pays in satisfaction)

There is plenty to do, and more than plenty when you start inquiring / looking.

If you can fix stuff, you will be SWAMPED with requests.

A 70 yr old couple who have always maintained their rental homes has now started a 'fix-it business' and having a ball (On their schedule). Seems to be NO competition! as the contractors want the 'real' jobs (to meet their payroll and insurance requirements).

I am an engineer by trade and teach adult / business finance, as well as skilled trades. We go overseas as possible and volunteer in trade schools operated by mission and NGO's. (free room and board! AND meet new lifelong friends from all over the world!! =more free travel!). (ALL of 2016 !)

Math is a primary need, few know it (teachers or students)!. Very strong need in USA.. (Just try to hire someone who can read a tape measure, or work in fractions!!). International you find yourself teaching lots of ratios / chemistry / AG science. I like to teach welding, cabinetry, house building, Diesel repair, and metals machining and materials science.

Subbing might be your best gig if you need $$, but it requires you to hang around home to get called! I don't like to be tied down. An Airport shuttle bus driver I just talked with make $19/hr and is VERY flexible (He leaves for South America 3-6 months / yr, but ALWAYS has a job when he wants it (7 yrs now)). I keep my CDL cuz I like to drive / substitute for semi driving. They always need weekend and evening workers (that's When I prefer to work, as I kinda like having all WEEK and every day(light) OFF! I have Bus, Passenger, HAZMAT + Tanker and Triple Trailer rating, so EZ to find a gig if I want one. I frequently get called for 'replacement' for someone who fails a drug test. I love to drive long haul in bad weather (Snow) keeps me alert!

Enjoy your new freedom, Yes, it is 'different'
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Old 10-01-2017, 09:31 AM
Status: "Loving life, wife and job!" (set 22 days ago)
 
Location: USA
1,005 posts, read 394,403 times
Reputation: 2730
Several years ago, I dropped off the car at the dealer's and got a ride home from their shuttle driver. Turns out he was a retired airline pilot working "just because".

One thing he mentioned stuck with me. He noted that when he retired, they had a group of six buddies. Of those, two still worked and the other four's health had deteriorated more quickly than the two who still worked.

I absolutely believe that there's virtue in "work". I've been lucky - most of my work career hasn't been too stressful. I'll be damned if I want to take on stress once I'm retired. You presented some validation and ideas for thought.

"Work" sent me to Latin America quite often and I had to teach a class in Saudi in late 2014. The women there (think about that for a minute!) validated my teaching abilities and I enjoyed the experience. My wife taught at the undergrad level for a few years so she's be a good match for something like that also.

Oh, my brother-in-law and sister are truckers. Both "retired" but seem to be a favorite for companies who need over-sized loads moved which is their specialty. They seem to enjoy that more than ever now that it's for extra "spending money"!
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Old 10-01-2017, 05:25 PM
 
Location: South Florida
195 posts, read 107,003 times
Reputation: 1158
My own experience is that while I was still working and making very good money I was in the habit of living simply and putting about 50% of what I made into stocks and mutual funds. Over the years most of my investments did well and when I retired I continued to live a simple lifestyle. It took several years in retirement to get comfortable with the idea that the balance hasn't gone down so if I want something frivolous I can go ahead and spend the money on myself and there will still be plenty left over to live on.

I have found that other people like myself who have always put planning for the future first before living a lavish lifestyle have some difficulty getting out of the habit of denying themselves. Go for it. It is your money. you earned it... you should spend it!
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Old 10-01-2017, 06:55 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,697 posts, read 40,084,074 times
Reputation: 23860
For retired teachers with certs, maybe there are some PT opportunities at DOD schools around the world.

We stayed with hosts who retired early (50's) then went into DOD schools with gigs in Germany, Japan, & Guam,

After retirement they were running some cert tests for inductees. (a couple weeks every few months)

Some retirees I have met enjoy (?) their PT / seasonal work with Census Bureau and IRS.

As mentioned above... you will probably have 'enough' to feel and be 'free', but it is OK to remain 'engaged' in something productive. (Just never mention it here on C-D.)
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Old 10-01-2017, 08:30 PM
 
Location: Florida -
8,772 posts, read 10,876,703 times
Reputation: 16669
OP, your situation sounds similar to ours -- Prior to retirement, there was always the uncertainty of how much we would have in retirement, thus, ongoing concern about spending and savings.

Since retirement (2008), however, the uncertainty is gone. We know what we have and have worked to optimize our income, savings and financial picture as well as prepare for potential emergencies or healthcare issues. We're no longer in an acquisition stage, do a great deal of traveling and let someone else manage the investment accounts. (We might do better than 6-10-percent per year, but, the lack of worry makes it worthwhile.)

Being able to see that we have more than enough income (without working), little or no debt, some provision for long-term healthcare and inflation and most importantly depening on the Lord to provide all our needs ---has removed our uncertainty and concerns and allowed us to relax when it comes to spending and savings. We are able to give generously and more 'stuff' holds little interest for us. Life is good!

Last edited by jghorton; 10-01-2017 at 08:46 PM..
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Old 10-15-2017, 08:52 PM
Status: "Loving life, wife and job!" (set 22 days ago)
 
Location: USA
1,005 posts, read 394,403 times
Reputation: 2730
Quote:
Originally Posted by jghorton View Post
OP, your situation sounds similar to ours -- Prior to retirement, there was always the uncertainty of how much we would have in retirement, thus, ongoing concern about spending and savings.

Since retirement (2008), however, the uncertainty is gone. We know what we have and have worked to optimize our income, savings and financial picture as well as prepare for potential emergencies or healthcare issues. We're no longer in an acquisition stage, do a great deal of traveling and let someone else manage the investment accounts. (We might do better than 6-10-percent per year, but, the lack of worry makes it worthwhile.)

Being able to see that we have more than enough income (without working), little or no debt, some provision for long-term healthcare and inflation and most importantly depening on the Lord to provide all our needs ---has removed our uncertainty and concerns and allowed us to relax when it comes to spending and savings. We are able to give generously and more 'stuff' holds little interest for us. Life is good!

Outstanding - I appreciate your words of wisdom and encouragement.
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Old 10-16-2017, 07:13 AM
 
29,866 posts, read 34,929,245 times
Reputation: 11788
Quote:
Originally Posted by jghorton View Post
OP, your situation sounds similar to ours -- Prior to retirement, there was always the uncertainty of how much we would have in retirement, thus, ongoing concern about spending and savings.

Since retirement (2008), however, the uncertainty is gone. We know what we have and have worked to optimize our income, savings and financial picture as well as prepare for potential emergencies or healthcare issues. We're no longer in an acquisition stage, do a great deal of traveling and let someone else manage the investment accounts. (We might do better than 6-10-percent per year, but, the lack of worry makes it worthwhile.)

Being able to see that we have more than enough income (without working), little or no debt, some provision for long-term healthcare and inflation and most importantly depening on the Lord to provide all our needs ---has removed our uncertainty and concerns and allowed us to relax when it comes to spending and savings. We are able to give generously and more 'stuff' holds little interest for us. Life is good!
Bada Bing!
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