A lot of talk about retirement recently...

Seems like everybody wanna do it.
For those who have become financially free and crossed over to the retirement lifestyle, even if temporarily, please give us other hopefuls some feedback of what living the dream is really like.

What's a typical day like for you.
What's a typical week like for you.
Is it what you expected it would be like, or better/worse.
Do you wish you did it sooner.
Do you have any goals any more or just simply live life as it happens, or do spontaneous ****?
Any other feedback in general?

 

I gave up full time 2 years ago when I reached 60 but not yet persuaded my wife to stop as she is a bit younger.

I have been working as a casual delivery driver 2-3 days a week averaging around 15 hours/week as it gets me out and about and meeting people. A lot of the people I work with are 20-30 years younger than me which is good.

On days when I'm not working I watch my wife get up before I make a move.

Two days a week I go to Tai Chi classes which is fun and good exercise.

Next week we are moving into a retirement unit which should give me plenty of little DIY projects for the next year or more.

Other than that I do bits and pieces on my Blog.

With being a casual employee there are plenty of opportunities to take time off to travel. Just got back from 3 weeks in Japan, and I have spent 4 weeks in the UK this year plus a couple of other weekends away. Next year it's the 40th Wedding Anniversary World trip for 8 weeks

Once I can get my wife to give up work the plan is to buy a camper van and see some more of Australia.

I enjoyed my career as a water engineer but don't miss it as I have plenty to keep me occupied and want to enjoy life while I am healthy enough.

Financially when we have both stopped work we should have an income of around $70K

 

Hubby is talking of retirement - and from next year we can financially afford for him to do so - but I'm not sure I'm ready for it.

He doesn't have any hobbies, or interests outside home, farm and work, so he would drive me nuts wanting to be involved in my full days or telling me to drop everything and "help" him do whatever tasks he's doing - we can't up and travel extensively with one still in school for another 5 years.

I've bought him a highly recommended book call "Retirement Ready" which works you thru the harsh realities of retirement - ie - how exactly are you going to fill the extra 60 waking hours you have each week.

Interesting times ahead

 

I find it hard to believe / amusing that people would struggle with this.

 

Happened to me about this time of year in 2000,walked into the Accountants office and the gentleman was a property investor but always sold early and was always turning them over due to self management problems learnt a lot off that Man,and all he said after about an hour was sometimes it's better too stop work now and pay less tax,or keep working and pay tax..
But i not retire ,then became a home dad that only finished a few months ago when the last youngest daughter finished what she started 6 years prior,one of the best jobs i have ever done,every Man should try it for six months..
I get to see a lot of retired people when i go camping ,most i see are above 60,sold up everything and become grey nomads with no plans and on the aged payments system..

The few that i do know who have retired on their own investment incomes have no goals ,and just take off when ever they want,but they don't have a family..

 

You don't have kids. If you have kids that are school age you're pretty much bound by their routine. Can't just dart off for a 4 week holiday. Can't even really go away on weekends if they are in high school because they have to study or they just don't want to go.

If the kids are off your hands (or you don't have anyway) it puts a totally different spin on the concept. Basically you're left with either keep working or go mad between school drop off an pick up. Your friends will likely all still be in the grind and won't have time for you, the rest of the world is in a hurry and you'll be left watching day time TV.

No thanks.

 

It actually can be a real issue. Especially for men, whose social connections are often work related. Sure, the first few months or even year you catch up with all the things you wanted to do. Take a long trip. Finish all those jobs you have been meaning to do.

Then what?

If you retire young (as seems to be the aim here) then during the week most, if not all, of your friends are still working, so meeting up for coffee, lunch, golf, movies etc is restricted to weekends. This impacted quite heavily on a neighbour who was the first in their social circle to retire.

Without absorbing hobbies or interests, you have about 16 hours to occupy yourself. Every day.
Marg

 

A person could run a couple of Airbnb's. Good part time hobby....

 

We were a bit concerned when my father in law retired late last year. After years of studies and work, he had to retire. Not because he cannot retire comfortably but what he was going to do with all that time. Now 10 months into retirement, he seems to be doing fine. So we're glad that he's enjoying so far.

The other person who retired is my mentor, well I treat him as one... He's busy managing and maintaining his properties. I do know he has a cuppa every morning walking on the beach in a beautiful part of NSW.

 

So do I - as I have no problems and could do with some more hours myself ... but if you have done nothing but get up, go to work, come home then I can see why it's an issue at the start when the "got to work" segment is removed.

A lot have also mentioned the loss of male social connections - which is why the "men's sheds" are doing so well ... but hubby is not interested as they are for "old guys". He may reduce to part time - but I'd like to see him really engage in something fulfilling - be it further studies or teaching or inventing or a hobby - preferably thought about and organised before he pulls the work pin ... there is only so much surfing one can do before that too becomes boring.

The "child in school" situation is also a major factor - as pointed out by others - and with junior about to enter year 9, at the age of 13 (so no driving for a while yet) the wings will be clipped even further.

Studies have shown that many men, who retire without a "what to do" plan, run a real risk of serious depression as their purpose in life, and social circle, have suddenly been stripped away

 

If you lived your life being rather than having then things to do in life is not an issue..... it's the having lifestylers that struggle....

 

I could ... but we have a son and his family interstate, a daughter and her family a 5 hour drive away so lots of visits, and we do a 5-6 week overseas trip each year with maybe another shorter trip or two.

And after a lifetime of being limited by jobs, schools, extra activities and keeping to times and schedules, my retirement is all about doing what I want when I want with minimal "have to do's"!! And the changing sheets and washing.....
Marg

 

I could probably deal with that. It's the cleaning of other peoples skid marks where I clock off.

 

My job brings me into contact with lots of different people from all walks of life .

If you have the drive to get to the point when you can financially retire at an early age then you are unlikely to be happy and will get quickly bored being " totally retired " . You might be fine for a year or two but eventually you get bored or start withdrawing from life and slowing down physically and mentally .

Part time jobs and managing own properties are not " retired " but they keep you engaged with the community . Hey give you a sense of purpose .

If someone's vision of retiring is being financially free at 40 to quit a job that they don't like and doing something that they've always wanted to do but haven't been in a financial position to , then that makes sense to me , but 25 year old who want to retire at 40 and sit down and relax and do nothing will quickly find they are bored "Sh..tless " .

I know people who have done this . A dad a my son's school who busted his guts and ended up owning a very well positioned servo which he leases out to a major . Rent from this more than covers a very nice life style . Life was great , but after a while he got tired of playing gold with people 20 years older than him . About three years later he was back in the saddle helping fund business start ups .

Friend of nephew was involved with one of the starts up like living social and before he was 30 had a multimillion buy out and was living on an idyllic beach front property in Mexico . My nephew spent a couple of months living there and his life revolved around partying when he had a friend to visit and being bored when there was no one for him to impress .

IMHO people need a purpose in life , some thing to do that gives them a reason to be here , otherwise you end up bored , depressed and disillusioned . If you have the ability to plan for an early retirement , plan for what you want to do . One friend is now quite a talented painter who is now entering the Archibald and getting worthwhile commissions . My hobby is songwriting and I have a job which I can work part time for as long as I'm physically and mentally capable .

The alternative to not having the financial capacity to retire is adding despair to the depressed and disillusioned .

Cliff

 

Agree.

 

Retired 5 years ago after 42 years of working in jobs that I loved. We've done a bit of travelling, have now become bi-coastal (Perth and Newcastle) to be close to our only child/grandie. Never been happier.

 

One of my older collegues returned back from retirement because his wife couldn't stand him being at home.

 

I am still years away from retirement but the wheel is in motion.

I think personally for me, would love to continually keep learning and it keeps the noggin working all the time instead of letting it rust.

Would love to do more probono work to benefit the community and be involved in activities such as being a coach for under 9 kid's soccer/ football team. Call them 'Ball Hoggs' because all young kids love chasing the ball and keeping the ball to themselves.

 

Some interesting responses here....the key is to have a hobby and things to do to fill your time.

I am fortunate ...my hobbies are property and travel...so I will have things to do. It will also give me more time to attend property related meet-ups and travel shows etc which I don't have the time to do now as much.

 

Having "been there and done that" I think the very best thing hubby and I did was to retire gradually.

I really don't know how it would go to be working full time, 40-60 hours away from home each week and just stop.

I always worked part time school hours - first four days a week, cut to three days a week when first grandchild arrived, then Cut to two days a week a few years later. As I also had school holidays off, it was not exactly arduous.

Hubby went from 5 days a week, to 4 days a week, then gradually reduced his days at work and did a bit if work from home. Finally it was 1 day a week in the office and bits and pieces at home. The last 6 months he was basically at home making a few phone calls, still paid around 75% of his FTE salary!

He retired fully around two years before I did, as I enjoyed my job and was not ready to give it up.
Marg