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For those who have already retired here, what words of wisdom do you have for those planning to retire soon?
What do you know now that you wish you had known sooner?
What, if anything, would you have done differently if you could do things over?
Would your focus be on staying near family and grandkids year-round? Or would you live part-time near them and part of the year where you'd like to live? Or leave them altogether?
If you live near grandkids, do you have energy to babysit them or drive them to ball practices, etc.?
Since retiring have you gotten any financial surprises you did not anticipate earlier in your planning?
Are you happier now that you've retired? Or do you look back wishing you were not on a fixed income, so to speak?
Are your days more fulfilling than ever? Why or why not?
Regarding medical expenses, is there anything you wish you had anticipated ahead of time concerning your health?
Did you retire in an area where you already have plenty of friends? Or was it a new place? How is that working out for you?
One dear now deceased friend told me, Have a Hobby etc. I worked 40 yrs and had some crafts I did off and on over the years. But in 2003 I got the brainstorm after seeing the movie Pollock, and started painting in acrylics. I painted and painted for 3 yrs, my works are all over my apt, I sold a few, gave some away, loved doing that for those 3 yrs...got so into it.
Now at 79, no hobbies, but LOVE seeing a stranger walk out of my apt with one of my paintings. Two left with two food delivery guys and one walked out with a computer tech fellow. Gifts for both the giver and receiver. My daughter is not crazy about my works, but others comment and so that's when I offer the gift to them.
Getting rid of stuff anyway is what I'm forever doing. We've discussed downsizing and getting rid of stuff many times here.
Thx for sharing that thread, ansible90, as it's good. But I don't see much there about decisions with grandchildren, medical expenses post-retirement, etc. Hoping more people chime in on this as I am sure people have additional good insights.
Jaminhealth, how neat you're doing this. I like your approach. I read someplace that some retirees wish they had started getting rid of household stuff years earlier. I am just starting to think about this and it's a little overwhelming. Craig's List here I come!
I’d recommend getting the best health insurance you can afford, don’t cheap out on health insurance. If you need to cut back in other ways, I’d say do so. Health “surprises” are very common as we age and you want to have the best coverage possible. I love retirement and don’t miss working at all. And plan for the fact that all costs go up every year so budget accordingly!
Thx for sharing that thread, ansible90, as it's good. But I don't see much there about decisions with grandchildren, medical expenses post-retirement, etc. Hoping more people chime in on this as I am sure people have additional good insights.
Jaminhealth, how neat you're doing this. I like your approach. I read someplace that some retirees wish they had started getting rid of household stuff years earlier. I am just starting to think about this and it's a little overwhelming. Craig's List here I come!
On getting rid of "stuff" I'm holding on to a body pillow I bought yrs ago I thought I needed, I hardly ever used it. It may end up in the alley soon at the recycle bin..someone may find use for it. Talk about wasted purchases in one's life. I am pretty much of the "what I need" mentality vs what I think I need, so I'm not horrifically encumbered.
On the grands, I saw them a lot when they were babies and growing, now at 18 and 21 I'm lucky if I see them a couple times a year...they are so so busy with their 2018 world lives...never never was my life like theirs.
Thx for sharing that thread, ansible90, as it's good. But I don't see much there about decisions with grandchildren, medical expenses post-retirement, etc. Hoping more people chime in on this as I am sure people have additional good insights.
Jaminhealth, how neat you're doing this. I like your approach. I read someplace that some retirees wish they had started getting rid of household stuff years earlier. I am just starting to think about this and it's a little overwhelming. Craig's List here I come!
We sent about half our stuff to auction before we moved. Still have problems getting everything to fit after downsizing the house.
We moved to a Sun City half a continent away. Three years in and we have tons of friends, plenty to do within the community, and Las Vegas has so much to do. No gambling yet. I keep saying I want to go play poker, but other things get a higher priority. One of these days...
Don't miss family much. Didn't see them when we lived in the same city so...
Medical expenses aren't terrible here, but we have excellent insurance so cost (except that big monthly payment) isn't a concern. Mrs. Tek spent a lot of time researching doctors and we've ended up with some very good ones. Dropped a couple along the way to finding the ones we have.
We are living at or above the level from before retirement. Now that we have the time we are traveling more. A month in The Netherlands and Ireland last year, a month in Italy later this year. This is all a credit to Mrs. Tek and her hard work with our finances (She's an accountant). We plan on a month or so out of the country every year until I can't travel. We know it will be me that craps out first. Whole other subject. Then we will travel in the U.S. until we can't.
As for doing something different I would have put up with breathing problems and ended up someplace green. I really miss trees (forests), and grass, and fields of flowers, corn, wheat, etc. And it smells funny here when it (rarely) rains. I don't miss winter. At all. I don't miss tornadoes.
Location: Approximately 50 miles from Missoula MT/38 yrs full time after 4 yrs part time
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Quote:
Originally Posted by loveautumn
I’d recommend getting the best health insurance you can afford, don’t cheap out on health insurance. If you need to cut back in other ways, I’d say do so. Health “surprises” are very common as we age and you want to have the best coverage possible. I love retirement and don’t miss working at all. And plan for the fact that all costs go up every year so budget accordingly!
The above quote regarding Insurance is 100% correct and is absolutely the most important aspect of having a 'worry-free' retirement.
You can plan, anticipate and budget intelligently for various "known" potential financial "bumps-in-the-road"..............however, it is the TOTALLY UNEXPECTED 'BOLT OUT OF THE BLUE SKY' Health Expense .........that can change your retirement years into a potential tradgety!
EXAMPLE:
.....Retired at age 62...wife was 61...house was debt free.
One adult child was married and had good job and her own insurance.
Eight years later(2002) I was diagnosed with an aggressive type of cancer, that required major surgery and follow-up.
Total Medical bills were $127,000.....insurance covered all but approx $400.
In 2004 my wife was diagnosed with inoperable cancer.
After 14 months of Chemo, Radiation, Hospital and Hospice she passed away..............Insurance covered $296,000,....I had to pay out of pocket $1500.
In 2012 I had abdominal surgery........$67,000. Insurance paid all but $150.
If we had not been covered by Medicare and an expensive Supplemental policy, I would have had to mortgage or sell my debt free home.
It was not easy in our married life to forego buying a new vehicle every few years, and in several other ways to be frugal in our lifestyle in general...........however that philosophy proved to be the correct way to go.
Everyone has different priorities in life............in our case, not buying a new vehicle every few years and a modest life style enabled us to pay for the best type of health insurance that we qualified for.
Now, as I very soon begin my 87th year, I continue to live out my retirement years as a debt free, independent, worry-free senior citizen that drives a 10yr old SUV that got a new set in November, of Winter Tires for our Montana winter weather.
YMMV.
CARPE DIEM my friends, it may be later than you think!!
- If you have not already been doing so, eat healthy and stay fit.
- Hopefully, you have hobbies and interests to keep you busy.
- Enjoy your retirement. You earned it.
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