The key ingredient in successfully retiring.

[Tesaje]

Originally Posted by TuborgP

The key thing is that you are in great anticipation of your new journey. That is probably the key thing the willingness to be a person going down a new path and not one looking back over their shoulders. Looking forward and not backwards is what I think is key.

This is probably the key to a good life - recognize that happiness is in the journey, not the destination. I plan to always be exploring something.

[Curmudgeon]

Originally Posted by TuborgP

You may want to think about your math and most men only not living more than five years after they retire. You need to look at the average life expectancy for men at age 62 which is the early retirement age. With what you are saying men on average should be passing in their mid to late 60's. Remember the life expectancy for a 62 year old is greater than for a 20 year old. When you hit 62 all of the people passing early already have and aren't factored in. You may be relying on urban legend for your information.
Actuarial Life Table

The average 62 year old male has a life expectancy of almost 19 more years. The damage to men is done during their early years and once you have made it this far. Also stress is much more dangerous when you hit 60. What once saw good for you at 30 no longer is. So guys retire early if you want and kick back and chill as the stress melts away. Remember doing nothing is something if it is what YOU want.

Yes I do define myself by what I do and what I do is what I want to do.

One thing I've said for years is that the best way to ensure a long life is to make it through your 50s. That was after seven people at work died over the course of several years and all were in their 50s, both men and women. As a consequence I really celebrated hitting 60.

I was going to work until age 64 for financial reasons. I was in a high-stress job but after the military and law enforcement, figured I could handle it alright. Then my wife and I went to see Garrison Keillor live. At the end of the show he took questions from the audience.

The last question he answered was this: "As an author with book signings all over, your weekly show of A Prarie Home Companion and being on numerous lecture series, how do you manage your time?"

Mr. Keillor's response was that many years ago he took all his obligations, both personal and professional, and carefully weighed them. In one pile were those things he really didn't have to do or no longer found enjoyable. In the other pile were those things that were necessary and those that still brought him pleasure. He got rid of the first pile and kept the second which was now easily managable.

After my wife and I walked home I told her that given this "wisdom," I wanted to retire at 62, my age at the time and present age until next month, not 64 as planned because I no longer enjoyed work after having done it for 45 years. The following day at work I announced my retirement at the end of the year. My retirement took place on December 30 of last year which was also my wife's and my 12th anniversary.

I did that on purpose. Being older I only have to remember one date instead of two!

I heartily recommend Mr. Keillor's wisdom and approach.

No regrets!

[mysticaltyger]

I agree with you. I have a friend who worked as an engineer and retired at age 58 with a 7 figure 401k and a pension. His house is paid off, and he is not a "high liver". Despite the stock market meltdown, his 401k is still 7 figures and his pension provides enough income for him to live on so he hasn't even bothered to dip into it yet. Add to this that he could start collecting SS any time now (since he's 63), and you can see he has no financial worries.

Yet, he has no purpose in life. A few friends, but could have more. He volunteers once or twice a month at the communtiy cable station. But not really enough to keep him occupied.

I think it's great that he saved consistently throughout his working years, but I don't want to end up like him....financially comfortable, but not happy.

A certain amount of money is a key ingredient to retiring happy, but it is not the only essential ingredient.

[Apples&Oranges]

I thought it would be wonderful to have plenty of free time, but now I realize it can become very boring.

I joined a women's singing group that meets weekly and performs in the county several times a year. It's wonderful!

I got my husband to join the choir of the church down the street. He never sang in a group before but he loves it! He is finally making some male friends in the area.

I also have a group of three women friends who meet for lunch every couple of months. They are all retired too. We cherish our time together.

[Tesaje]

Originally Posted by mysticaltyger

A certain amount of money is a key ingredient to retiring happy, but it is not the only essential ingredient.

I very much agree. You need enough to meet your needs but if there is no other reason to get up in the morning, it would be a problem. Money is a necessary but insufficient condition to a happy retirement.