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Old 08-01-2011, 07:20 AM
Location: Newport, NC
956 posts, read 3,643,403 times
Reputation: 708


OK, so I've been waiting my turn and watching the retiring in 1 year threads. If everything goes as planned, my wife and I will be retired at the end of July next year (2012). Any words of advice as we get closer to the time? We've been watching finances, we've been planning things to do once retired, we've been investigating retirement destinations, etc. From your experience, are there things we might be missing or things we should be doing?
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Old 08-01-2011, 08:55 AM
Location: Maryland
1,534 posts, read 3,837,711 times
Reputation: 2307
1) Keep up the excellent planning.
2) Chill out a bit if you get over stressed at all the variables, remember - you'll be RETIRED!!!!!! Lots of time to work things out.
3) Seriously enjoy your last year of working, knowing that the end is in sight. I really enjoyed the last 12 months.
4) Serious advice - try not to grin to much around non-retiring folks - it makes them cranky!
Best of luck .
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Old 08-01-2011, 10:31 AM
Location: Coast of Somewhere Beautiful
2,370 posts, read 4,745,806 times
Reputation: 5948
I know it sounds odd, but if your budget can manage it, take an extended vacation right after you retire. We spent the first two weeks of retirement in Key West and it was the best vacation we ever had, totally unspoiled by the usual "I dread going back to work" thoughts that usually accompany a vacation. It also put us in "vacation mode", which transitioned very smoothly into "retirement mode", rather than waking up on Monday, with nowhere to go and trying to figure out what the hell happens next. Enjoy!
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Old 08-01-2011, 10:45 AM
Location: Baltimore
1,802 posts, read 7,423,980 times
Reputation: 1921
A mistake I made within a few years of retiring was talking about it too much to my coworkers. It was a very stressful time at work for me and also for a lot of other people, and I would often vent by saying how I couldn't wait to get out. One of my employees (also a friend) pulled me aside and suggested I should stop saying it as it wasn't helping with morale (something I should have been more aware of without him saying it). I realized he was right, so I never said another word about it until I actually put in my retirement paperwork a month or so before I left.

Unfortunately - everyone appeared to be caught by surprise - I guess since I had stopped mentioning it they thought I had changed my mind about doing it (not on your life!).

I have to say though that the last 12 months was very difficult. It's not like that for everyone but it was for me. Up until then I wholeheartedly tried to make positive changes in the workplace even though it often felt like banging my head against a brick wall. But for the last year, and especially the last 6 months, it was very difficult to stay motivated to try to improve things knowing I would soon be out of there.

Good luck to you! You will love being retired!
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Old 08-01-2011, 11:40 AM
Location: Central Florida
973 posts, read 1,516,622 times
Reputation: 1102
I have one year to go too as I retire in June 2012. Today I went into school to pick up my room keys and actually had tears in my eyes as I knew this would be the last time I was going to do that.

I am glad that I read what people posted here, as I was going to be the one who said "Well, this is my last welcome back breakfast. Well, this is my last....", but now I know better not too, even though I am not really unhappy.

The only thing I have planned is to pay off all my bills except my house, and then fly by the seat of my pants as I could care less that I will have hardly any money saved. All I need is for the housing market to get back up and then sell my house.

But too, retirement does not mean that I will not be working again, for if I get desperate, I could always subsitute teach. In fact, my 2 year plan is to live in Belgrade, Serbia for 6 months and back home an sub the the other months...then I will see what will happen!

What are your plans???
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Old 08-01-2011, 12:50 PM
10,748 posts, read 9,753,482 times
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Not sure how you'll be set up with medical and dental insurance upon retirement. Are you staying on your employers' plans, or going Medicare/Supplemental/Advantage?

As far as dental, if you have dental ins with your current employers, then it's a good idea to get as much dental work done as needed before retirement.

Not really knowing your financial situation, it is always a good idea though to use your current paychecks for major house repairs, car repairs, etc.

Enjoy your last year of working since you know there really is light at the end of the tunnel! And the next year will fly by quickly!
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Old 08-01-2011, 04:49 PM
701 posts, read 1,558,799 times
Reputation: 793
I wish we had started clearing out and paring down our possessions ahead of time, one closet at a time.

Instead we waited until the end and did a huge upset-the-fruit-basket and ended up storing a lot of stuff we have no use for and getting rid of stuff we had to buy once we were settled.
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Old 08-01-2011, 07:58 PM
Location: Northern California
1,395 posts, read 2,267,455 times
Reputation: 1017
Please make sure the house you're in is where you want to be.
I spend most of my time at home now and Im discovering all the problems with the neighborhood I didnt notice when I was working 40-50 hrs a week.
My 2c worth...and good luck!
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Old 08-02-2011, 05:43 PM
Location: Los Angeles area
14,017 posts, read 18,174,832 times
Reputation: 32365
Originally Posted by Pilgrim21784 View Post
Chill out a bit if you get over stressed at all the variables, remember - you'll be RETIRED!!!!!! Lots of time to work things out.
Good advice, Pilgrim! While it's certainly advisable to think ahead of time about activities for retirement, it's also impossible to know exactly how things will work out. There may be a few wrong turns, a few potholes in the road once you are retired, but so what? The journey will continue and it will take you to some great places.

Someone in the local school district twisted my arm (gently) about becoming a volunteer reader to read aloud once a week to an elementary school class. I accepted, thinking that I would not have to continue beyond a few months if I didn't like it. I lucked out by getting assigned to the fifth grade class of a wonderful teacher and I was amazed at how rewarding and enjoyable I found this activity. It morphed into my bringing a published author to talk to the class, an 84 year-old woman who had grown up in Nazi Germany and wrote a book about it, and whose book I had read portions of to the class. The author, the teacher, and the children were thrilled, and so was I. You never know.

Last edited by Escort Rider; 08-02-2011 at 05:53 PM..
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Old 08-02-2011, 06:08 PM
Location: Florida
2,291 posts, read 5,054,422 times
Reputation: 5249
I have retired more than once. The first time, I took an early retirement package from my career in corporate america, it included medical & dental insurance until I am 65. In April of this year I retired from my current job and will not be able to get medicare for another year, so, I am doing everything I can medical & dental wise.

Another thing I did was sit down with my tax accountant to further understand my tax ramifications in retirement. I was surprised to find out that I would have to pay income taxes on 85% of my SS benefit. Single and making over x number of dollars. Of coarse, every situation is different.

Otherwise, I just followed thru on my plans, and am now trying to figure out what to do with my time.

Good Luck, enjoy your retirement!
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