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Looking for advice on Retirement
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Dec 17, 2017 13:00:00   #
wwright Loc: Tucson
 
I like to play golf. So, I applied at the local courses and was hired for outside services. Washing carts, and being a starter are low stress; the pay is low, but fuels my day to day cash needs. And, I get free golf for me and my wife. The free golf is where the savings add up. If golf is not your thing, retirement is a great time to try all those things you thought about doing. I live I a 55+ community and there are lots of clubs and craft classes available to experiment with.

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Dec 17, 2017 13:08:11   #
NewGuy
 
repleo wrote:
I know there are a lot of retirees here on UHH and I am looking for some advice.

I have tentatively targeted retiring in two years time. Financially, we should be in pretty good shape, or at least better than most. My problem is I can’t see what I am going to do with myself in retirement.

My joints get stiff when I sit around too much, and my hearing is fading, but otherwise I am in good health. I have returned to photography in a pretty serious way, I play a bit of golf and am a pretty decent handyman around the house. I do a lot of DYI projects. Over the years I have done professional level, full gut rehabs on six bathrooms, three kitchens, and two decks and never ending painting projects. My wife and I enjoy travelling and are well able to undertake self-conducted tours abroad a couple of times a year.

At 65 I am still working full time. I don’t really find my job satisfying anymore, but it is well paid and low stress. I could probably taper down to part time if I wanted to. So what is keeping me from retiring? Fear. Fear of losing a regular pay check. Fear of watching savings do down instead of up. Fear of not knowing what to do with myself all day. Fear of losing interaction with vibrant young folks. And yet I don’t want to wait until I am too old or sick or dithery to enjoy retirement.

Googling ‘retirement advice’ just seems to bring up endless financial advice. That is not what I am looking for. I am looking for real world advice on the other aspects of retirement like happiness, fulfillment, satisfaction. I know many of our UHH retirees are just living hand to mouth and had no choice in their retirement due to health or employment issues and may find this all very self indulgent. However, I would like to hear from those who have found retirement rewarding and satisfying. Any good articles or books you can recommend or advice that worked for you in your transition?
I know there are a lot of retirees here on UHH and... (show quote)


Everyone needs something bigger and more important than themselves in their lives. For many people, it is their job. If that's true for you, then retirement will be troublesome. Jobs are usually defined to make people successful which leads to feelings of self-esteem and value. If all that disappears overnight, it will hit you hard about three months out. My suggestion: taper down working and taper up some service to humankind.

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Dec 17, 2017 13:15:08   #
shelty Loc: Medford, OR
 
I would say you need a very minimum of about $350,000 in a brokerage account that earns a minimum of 5%, more like 7 or 8%. Or else a good retirement income that gives you what you are making now minus social security.

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Dec 17, 2017 13:34:13   #
Jerry Coupe
 
There are many good nuggets of advice in the responses already posted. Since you did mention a concern about not having an on-going paycheck, my suggestion would be to contact a good financial planner if you have not already done so. We have worked with a financial planner both before and since retirement. Tracking how you spend money now and planning for retirement expenses, travel and major purchases, takes time but will also bring reassurance that your resources are right for your retirement years. A financial planner can take your data and run thousands of simulations and help verify your retirement resources.

Then you can comfortably assess all of the previous suggestions and enjoy retirement to the max. I worked for years in a very dynamic, challenging environment, but by thinking about and planning for retirement, I shifted gears on day one and have never looked back.

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Dec 17, 2017 13:39:59   #
SteveLew Loc: Sugar Land, TX
 
I am retired and my greatest thrill is volunteer work. Find something that interests you like your construction. Habitat For Humanity is always looking for volunteers. I have been teaching ESL (English as a second language) for the past nine years even before my retirement. when you volunteer often you get more out it than the organization does. Good luck.

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Dec 17, 2017 13:49:18   #
ToBoldlyGo Loc: London U.K.
 
Hello. I’m not of retirement age but can offer an idea or two. I work for an animal charity which has lots of volunteers. Some are retired and very happy. Is there a charity you could offer to help out? Or even make things for that they can sell? How about taking photos for an animal charity for a shop to help list their products? Could you assist in digital or social media aspects? Hope I haven’t just repeated other responses here, but I wanted to offer something from my own knowledge base without feeling like my ideas may have already been stated, and therefore don’t need to be here. But as a helper, you won’t be rushed into things, and therefore will hopefully enjoy what you put in. The volunteers I know well love what they do.


repleo wrote:
I know there are a lot of retirees here on UHH and I am looking for some advice.

I have tentatively targeted retiring in two years time. Financially, we should be in pretty good shape, or at least better than most. My problem is I can’t see what I am going to do with myself in retirement.

My joints get stiff when I sit around too much, and my hearing is fading, but otherwise I am in good health. I have returned to photography in a pretty serious way, I play a bit of golf and am a pretty decent handyman around the house. I do a lot of DYI projects. Over the years I have done professional level, full gut rehabs on six bathrooms, three kitchens, and two decks and never ending painting projects. My wife and I enjoy travelling and are well able to undertake self-conducted tours abroad a couple of times a year.

At 65 I am still working full time. I don’t really find my job satisfying anymore, but it is well paid and low stress. I could probably taper down to part time if I wanted to. So what is keeping me from retiring? Fear. Fear of losing a regular pay check. Fear of watching savings do down instead of up. Fear of not knowing what to do with myself all day. Fear of losing interaction with vibrant young folks. And yet I don’t want to wait until I am too old or sick or dithery to enjoy retirement.

Googling ‘retirement advice’ just seems to bring up endless financial advice. That is not what I am looking for. I am looking for real world advice on the other aspects of retirement like happiness, fulfillment, satisfaction. I know many of our UHH retirees are just living hand to mouth and had no choice in their retirement due to health or employment issues and may find this all very self indulgent. However, I would like to hear from those who have found retirement rewarding and satisfying. Any good articles or books you can recommend or advice that worked for you in your transition?
I know there are a lot of retirees here on UHH and... (show quote)

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Dec 17, 2017 14:20:28   #
jcave Loc: Cecilia, Kentucky
 
At age 73 and retired for 7 years, I have enjoyed the many responses and think that most are excellent. My own father, now gone, offered me the following advice which I treasure: Do what you want to do NOW for in a few more years you may no longer want to do it or be able to do it.

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Dec 17, 2017 14:30:21   #
mymike Loc: Tucson, AZ
 
jcave wrote:
At age 73 and retired for 7 years, I have enjoyed the many responses and think that most are excellent. My own father, now gone, offered me the following advice which I treasure: Do what you want to do NOW for in a few more years you may no longer want to do it or be able to do it.


That sounds like great advice. I am going to buy a new FF camera (successor to the D750) when it comes out and shoot pictures galore until I can’t hold it anymore or until they pry it out of my cold dead fingers.

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Dec 17, 2017 15:09:06   #
bobramewe
 
Retirement is all about being/staying healthy to be active. I sold all my business/residential stuff and went mobile. Traveling and taking care of my equipment, workcamping, fishing, photography, ...etc. my days are full by my choice...it all works, as long as I am healthy. And a shit load of fun. @ 70 I am happy as the proverbial clam!! To me, . It is not about money,
It is about health,... the bottom line!

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Dec 17, 2017 15:21:57   #
mymike Loc: Tucson, AZ
 
bobramewe wrote:
Retirement is all about being/staying healthy to be active. I sold all my business/residential stuff and went mobile. Traveling and taking care of my equipment, workcamping, fishing, photography, ...etc. my days are full by my choice...it all works, as long as I am healthy. And a shit load of fun. @ 70 I am happy as the proverbial clam!! To me, . It is not about money,
It is about health,... the bottom line!


My financial planner told me to count on budgeting for travel for the first five years of retirement and then after five years the budgeted money would go towards health care. I fired the financial planner!

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Dec 17, 2017 15:41:48   #
bobramewe
 
mymike wrote:
My financial planner told me to count on budgeting for travel for the first five years of retirement and then after five years the budgeted money would go towards health care. I fired the financial planner!


And.. I would not have paid him for that "bullshit"!!! Actually since I have "retired" I have eliminated three of the daily medications my doctor scripted, and haven't felt this good in years!! Go figure.

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Dec 17, 2017 16:10:47   #
tscali
 
I'm 76 and retired 21 years ago. If you don't want to move, then find what organizations are in your area and then determine were you best fit in. Join a golf league. Volunteer to help foster children (look up Guardian ad Litem in your area). If you go to church, get involved and find out what groups you most enjoy. If you want to move, then find an ACTIVE senior retirement community with a golf course and many amenities. My wife and I moved to Lake Ashton in Lake Wales, FL. We have a good photography club and many good locations within an hour of here to photograph wildlife. Even within the community there are wonderful opportunities to photograph wildlife. I am not associated with Lake Ashton in any financial way. We are residents and simply love the life and love retirement. If you're from the North as we were, I also do not mind not shoveling snow. My best advice is to jump in and try different things; you must have a positive attitude. It may take some time but it will happen. If you move buy into a new community; it will be easier to make friends. Sometimes making friends can be difficult; but please remember to make a friend you have to be a friend. Do not be afraid to take the first step. Good luck and I hope you enjoy retirement as much as we do.

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Dec 17, 2017 16:13:40   #
rps Loc: Muskoka Ontario Canada
 
I'm 83, have been retired for 20 years. My problem is not enough time! I find also that the older I get, the faster the time goes. I too have resumed my on and off hobby of photography. I drive a red Miata and am a member of our local Miata club.I am active in Probus (an international organization of retirees that somehow never caught on in the US. You could start a club in your community.) I'm also an opera lover and a member of our Muskoka Opera Guild.
I too am a DIY guy and look on our home as something of a hobby. We have done a lot of traveling --- every continent but Antarctica --- but have pretty well stopped because of our age.
We have been lucky with health. We know other retired people who have been afflicted with illness or the death of their spouse. You really appreciate your kids when you get older yet I find it hard to accept that my oldest daughter (we have three) is 61. How did a young guy like me end up with a senior citizen daughter :-)
We also moved out of the city (Toronto) to this gorgeous part of Ontario. I don't miss the city and I don't miss working but I do miss many of the people I worked with.
Hope your retirement is as successful and pleasant as ours has been.

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Dec 17, 2017 17:06:58   #
westjl2 Loc: Calgary, Alberta
 
Lots of good advice already. I am coming 60 in March. Was forced to retire last year because of being diagnosed with stage 4 prostate cancer. That was a silver lining in what could have been a cloudy year. It has forced me to realize how precious every day is. So I have enjoyed spending more time with my family, getting back into photography, making picture frames in my little shop and traveling with my wife. Like others have said, activities will come to you without even looking for them. I like to close every day with having accomplished something. Sometimes it’s nothing big but even just going shopping for something we need gives me a sense of accomplishment. I make check lists too and get a kick out of ticking off the activities. My wife helps me with that! 😏😉

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Dec 17, 2017 17:30:06   #
pesfls Loc: Oregon, USA
 
Outstanding question. Having spent my youth & career in work where physical fitness standards had to be regularly met the habit of staying conditioned is second nature. So, I'm fortunate to have such habits ingrained. As others have mentioned, this, I believe, is the most important thing you can do for yourself. It will occupy some of your time, so that's good. FWIW I work out 2 hrs a day 5 days a week mornings. Each weekday is a different routine. Without it, as you've already realized, you'll decline faster than you want. Stay off the sofa! For the last few years I've met with a personal trainer about every 3 months to review my workouts and have my regimen tweaked by them. That's been money well spent dealing with an actual exercise physiologist who's versed in dealing with folks our age. Go for it, everything else will just flow if you're fit and feel well. You'll enjoy your lack of responsibility to a job. Best of luck.

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