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Old 01-20-2018, 02:59 PM
 
Location: NC
6,572 posts, read 8,001,000 times
Reputation: 13490

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Are you still "making a difference" with your activities at work? Or are you just going through the motions. Are your activities helping to make the world a better place? Or are you simply helping someone to make money. If you tend to have noble goals, and if you already are financially set and only helping to line someone's pocket, then you will be happier retired.
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Old 01-20-2018, 03:08 PM
 
Location: on the wind
7,191 posts, read 2,954,384 times
Reputation: 24302
Quote:
Originally Posted by GeorgeHanson View Post
Hello everybody!

New to posting on this great board and look forward to thoughts as I am very close to pulling the plug on the corporate world. I would think I am not alone with the mixed feelings one gets as the retirement day nears. Still working, have not announced retirement, layoff is not a concern nor is medical coverage until 65 a concern. Financially ready (well, as ready as one can be). Just over the corporate world where I have seen the same old movie too many times. I’m tired of just going through the motions without the personal or professional satisfaction of years gone by and yes, the Sunday afternoon work thoughts creep in. Current retirement plan is to kick back for a few months to figure out what the next chapter in life looks like. I will engage in something…just not sure right now. At 62, if I do not pull the plug now, plan is to go through the motions for the rest of the year to avoid SS reduction based on income.

So the question to the wise people on the board: Right now, I’m 90% ready to start the next chapter in life but there is that nagging thought of why walk away when you don’t have to, but want to? Brutally honest replies such as are you crazy for walking away OR take the plunge, you’ll love it, or anything in between very welcome!
Completely normal feelings. Went through the same things. I found it hard to separate my "rational" feelings about retiring from my "irrational" ones. One thing I did that seemed to help. I got a second opinion about my financial situation. Even the questions my fiduciary asked me seemed to help focus my thinking. I was pretty sure I was in good financial condition to take the plunge, had done the responsible things about getting ready for retirement, but couldn't tease out how much my EMOTIONAL leanings were biasing it. The fiduciary's review helped separate the two.

Once I felt better about the practical money stuff, my other feelings dissipated like mud in a disturbed pool settling and clearing the water. Then, decision made, work became a different world. It became something with a bookend on either end. Just a life phase that begins and ends. Things at work that previously drove me nuts (and supported the desire to retire) lost their power. It almost became pleasant because I could now walk away. I felt free to start imagining what I would be able to do with my time after work. A lot of positive things, so I started looking forward instead of endlessly muddling around in the middle. It also helped me answer the inevitable questions like "what happens if I make the wrong choice?" The reality was...nothing much. Is fretting about a relatively minor thing like taxes in one fiscal year going to break you? Picking the exact departure date for a minor benefit? It may not be worth 6 months additional misery in the long run. It takes an effort to change a career-long imposed habitual mindset from "preparing for the future" to "living the future".

Last edited by Parnassia; 01-20-2018 at 03:20 PM..
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Old 01-20-2018, 03:12 PM
 
1,527 posts, read 635,525 times
Reputation: 5072
Quote:
Originally Posted by GeorgeHanson View Post
Hello everybody!

New to posting on this great board and look forward to thoughts as I am very close to pulling the plug on the corporate world. I would think I am not alone with the mixed feelings one gets as the retirement day nears. Still working, have not announced retirement, layoff is not a concern nor is medical coverage until 65 a concern. Financially ready (well, as ready as one can be). Just over the corporate world where I have seen the same old movie too many times. I’m tired of just going through the motions without the personal or professional satisfaction of years gone by and yes, the Sunday afternoon work thoughts creep in. Current retirement plan is to kick back for a few months to figure out what the next chapter in life looks like. I will engage in something…just not sure right now. At 62, if I do not pull the plug now, plan is to go through the motions for the rest of the year to avoid SS reduction based on income.

So the question to the wise people on the board: Right now, I’m 90% ready to start the next chapter in life but there is that nagging thought of why walk away when you don’t have to, but want to? Brutally honest replies such as are you crazy for walking away OR take the plunge, you’ll love it, or anything in between very welcome!
I can’t tell you what to do, but I can tell you that I have loved every day of my retirement since I took the plunge 3.5 years ago. I retired at age 62. Even days that I don’t do anything but watch the grass grow are wonderful.
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Old 01-20-2018, 03:33 PM
 
5,429 posts, read 3,456,960 times
Reputation: 13714
OP, you say you'll 'engage in something' in retirement. While it is not necessary to know exactly what you'll do in retirement, it can be helpful to have an idea what might engage you. If you're a person who has largely defined himself by his work, one needs to shift that thinking into new ways to feel like a fulfilled person or to be able to enjoy your time. Having some hobbies/avocations and strong interests in life is a start too.

Last edited by matisse12; 01-20-2018 at 04:05 PM..
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Old 01-20-2018, 03:46 PM
 
2,856 posts, read 1,011,377 times
Reputation: 3287
Quote:
Originally Posted by Gusano View Post
I can’t tell you what to do, but I can tell you that I have loved every day of my retirement since I took the plunge 3.5 years ago. I retired at age 62. Even days that I don’t do anything but watch the grass grow are wonderful.
June 2020 for me and counting down to it.
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Old 01-20-2018, 04:08 PM
 
11 posts, read 5,523 times
Reputation: 34
I want to thank everybody for your thoughtful insights…I really do appreciate your time and especially your encouragement in light of the central themes of finances and having a plan.

In terms of finances, retirement income will come from a very generous pension (48%), SS (19% at the age 62 rate) and the remaining 33% from moderate risk IRAs with an average success rate of 85% of lasting 30 years when run through various calculators and simulators—which gets to 95% of current income in retirement. Not included in this income is a separate account specifically set aside to pay off small mortgage next year with a little left over for a planned house improvement.

I hear everybody loud and clear about having a plan. A short decompress period coupled with injecting much neglected exercise into the routine is first up followed by research into volunteer opportunities and of course a little fun with my much better half and grandson thrown into the mix. A planner by nature, I feel pretty good about laying out a plan for life’s next chapter but definitely aware the road will have curves along the way.

Again, I truly appreciate your thoughtful insights—many of your comments really resonate, helped put the mixed thoughts in the rear view mirror and move on to the next chapter!
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Old 01-20-2018, 04:25 PM
 
Location: Wasilla and Bozeman
54 posts, read 31,111 times
Reputation: 214
When I retired, I had a great career with a lot of responsibility, great colleagues and good pay and benefits. Yes, I have lost track of most of my colleagues. Afterall, they are still working, and have little time, so I expected that to happen. But, retirement can open up a new world. Some of my colleagues said to me, "what are you going to do when you retire". Now, they all comment on my FB posts with envy when they see all of the things that I am doing that they can't. I am doing the things that we all talked about when we said we'd retire.

I feel like retirement has given me the opportunity to be enlightened. I have learned so many things....things I would've never been able to learn about while working. I didn't have a plan for any of it....it just happened for me. But, you cannot allow yourself to get into too many ruts...don't turn on that TV! It will come together little by little...just like when you first went to work...you learned, little by little.

I'm sure you know what you are interested in, even if you haven't dusted those interests off in awhile. A few years ago, I started learning about Bitcoin and have dabbled in that. I spend at least one to two hours a day on myself, working out, yoga, going for a walk, lifting weights. I spend several hours a day cooking because I enjoy learning how to make good food. I travel when I can, and it's not always some big adventure. Sometimes, I just get in my car and go off exploring someplace nearby. You don't hear me say anymore, "I'm going to stop in there someday". I bought a small tractor and I spend time working on projects that I never got around to. I could spend months on little projects just around my house. I took on a huge ancestry project. I could spend hours a day just on that. There is always something to do, or something to learn, or something to see. When an opportunity comes along, whether it is an invitation, or something else, I usually go for it. Everytime that I have done that, I was glad I did.

One of the things that motivates me is realizing that I'm not young anymore. Time is a motivator. I've seen family and friends get older and lose their abilities. Any of us are at risk for that. There are many things that I can no longer do that I once was capable of. There are some risks that I will no longer take. So, I want to enjoy things...other than work while I still have the ability to enjoy them. I can honestly say, if I died today I had a very good and fulfilling life.

Best of luck to you in whatever decision you make.
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Old 01-20-2018, 04:37 PM
 
5,429 posts, read 3,456,960 times
Reputation: 13714
Quote:
Originally Posted by Gusano View Post

I can’t tell you what to do, but I can tell you that I have loved every day of my retirement since I took the plunge 3.5 years ago. I retired at age 62. Even days that I don’t do anything but watch the grass grow are wonderful.
so true!! I strongly agree!
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Old 01-20-2018, 05:45 PM
 
Location: Arizona
5,966 posts, read 5,315,071 times
Reputation: 18021
I don't know about having a plan. I had a plan and I don't do any of those things. Now I do many different things that weren't in my plan. Your hobby for the last 40 years may be fine when you only have a little time to devote to it but will it be enjoyable when you can spend as much time as you want on it?

New things to do and new people to do them with are the best thing about retirement.
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Old 01-20-2018, 06:05 PM
 
5,429 posts, read 3,456,960 times
Reputation: 13714
Quote:
Originally Posted by thinkalot View Post
I don't know about having a plan. I had a plan and I don't do any of those things. Now I do many different things that weren't in my plan. Your hobby for the last 40 years may be fine when you only have a little time to devote to it but will it be enjoyable when you can spend as much time as you want on it?

New things to do and new people to do them with are the best thing about retirement.
I agree that it is not necessary for everyone and all types of people to have a plan!
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