# Retirement, it's here like a ton of bricks



## Aukai (Nov 26, 2019)

The planners say how much I'll get, and I should be fine(a little short) I'm on my wife's medical already. Tomorrow at 0800 I'm unemployed, my anxiety is through the roof right now, just cuz it's going to happen, and I haven't done it yet to see how it will be. It is what it is, deal with it I guess. I'll laugh about it later(I hope)


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## DavidR8 (Nov 26, 2019)

Best wishes man!
See you in a few years


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## mikey (Nov 26, 2019)

Congrats, Mike! Don't worry, you'll be fine. Retirement is like permanent vacation and who doesn't like vacation? It will take some time to get used to not getting up to go to work and you'll have work on your mind for a little while but it slowly lets go and then you'll get to re-discover who you were. Only problem is that you'll be really busy because you have to fit everything you do in between your morning and afternoon naps!


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## JimDawson (Nov 26, 2019)

Enjoy yourself, you earned it.


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## Aukai (Nov 26, 2019)

LOL, thank you Dave, and Mike, Jim I've had the same job for 40 years, I'm saying retired, but my mind says UNEMPLOYED.....I was working on charter boats at 15 years old, under the table, this "OK stay home now" is unnerving


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## DavidR8 (Nov 26, 2019)

I hear you man. 
I have a colleague who is a lawyer. 
After a particularly crap year she took a year’s leave. 
She is totally type A and said that for the first couple of months she had no idea what to do with herself. 
She went to Scotland for a few months and came back a different person, for the better 

It’s gonna be weird to be sure, try not to put any pressure on yourself. 


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## mikey (Nov 26, 2019)

Aukai said:


> ... this "OK stay home now" is unnerving



Staying home is not the same as doing nothing. I retired at 56, bought a sport bike at 58, modified the suspension and was riding way too fast at 59 (still do at 70), and had my last hunt that year going after sheep at 9,000 feet. When I die, I don't want to ever say that I didn't do something because I was too old or whatever other excuse I come up with. 

During out lives, we are different roles - worker, husband, father, caregiver or whatever - and we often lose touch with the person we used to be. In retirement, we have the chance to be that guy again, to get back in touch with who we are, because all those responsibilities are largely done with. Look forward, Mike, because the best times are coming ... trust me!


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## Z2V (Nov 26, 2019)

Congratulations to you Mike. I retired 3yrs ago, I get asked all the time, “what do you do now that your retired?”, I reply
“ anything I want, when I want”. You will adjust quickly


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## Aukai (Nov 26, 2019)

This is how I want to do it, just not broke, or scraping by.

*Life should not be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather skid in sideways, body thoroughly used up, totally worn out and screaming "WOO HOO what a ride!"*


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## savarin (Nov 26, 2019)

You have a machining hobby but it is not enough.
The more interests you have the better you will be mentally.
I retired at 62 by choice and have loved every minute of it.
I retired with two others who had no hobbies other than fishing.
After around 8 weeks they both had to find part time jobs as they were going mad with boredom.
Learn new skills or the arts or whatever turns you on (legally  ) and you will be set.
Have an awesome time.


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## Aukai (Nov 26, 2019)

I have done commercial fishing, and gave it up recently after 22 years on my own boat a 30', twin diesel. Cars, and machining from now on.....


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## PHPaul (Nov 26, 2019)

What everybody else said, plus...

I was a little worried because I got totally fed up and quit my last job 2 months prior to being eligible for Social Security.  (Yet another time when my Navy pension saved my sanity...)

After scaring myself badly once 30 years ago I became very diligent, not to say compulsive, about tracking where every dime went.  

About 6 months into full retirement, I noticed that I had somewhat more disposable income after retirement than before.  Some of that is because my last job was part time and poorly paid (one of the reasons I quit) and my SS was actually slightly more than a month's pay from my job.   Other than fewer miles driven (some weeks NO miles driven...I have an eight year old Corolla with less than 40,000 miles on it...) and no money spent on lunches, the rest is something of a mystery.


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## higgite (Nov 26, 2019)

Retirement takes a little getting used to after the “this is like being on vacation” phase wears off. When I retired, it was like being on vacation. When my “normal” vacation time expired and I still didn’t have to go to work the next day, I was like “Hey, this ain’t too shabby.” I finally had all the time I wanted for fishing and learned to fly fish and tie my own flies and discovered trout can be a challenge. Plus, I picked up a couple of other hobbies along the way, such as the one that brings us all to H-M. But, I have to say, you aren’t fully reaping the benefits of retirement until you get up one day and say to yourself, “Self, I’m not doing a darned thing today and I ain’t quitting ’til I’m through.”    Enjoy!

Tom


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## vtcnc (Nov 26, 2019)

Aukai said:


> I have done commercial fishing, and gave it up recently after 22 years on my own boat a 30', twin diesel. Cars, and machining from now on.....


In Vermont, I've seen coolers full of fish, but never the back of a pickup truck. Sheesh!


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## fixit (Nov 26, 2019)

I worked for the same company for 33 years. The last 5, without a day off, on call 24/7/365. The stress nearly killed me, so I retired at 59. Sold everything I owned, moved south, started a small business & was having the time of my life till God took my wife of 57 years last June. Now at 77, I need to readjust everything again. You will manage as long as you think positive & keep busy. If you are here you have lots of toys to play with, LET THE FUN BEGIN.


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## mmcmdl (Nov 26, 2019)

Hey Mike , Congratulations on your retirement . Hope to see another project up on the site soon . Maybe a 67 SS ?


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## Aukai (Nov 26, 2019)

Thank you everybody, sorry for your loss Fix, it was my 25th anniversary yesterday too. Bryan I had many sizes of coolers, there is a small one in the picture. the market that took those fish is just down the road, and temps are checked on delivery. It cost me 400.00 to start a trip, and I never left with less than 700-1000 lbs of ice.


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## Nogoingback (Nov 26, 2019)

I went through the same sort of anxiety before retiring at 65 last year, but I got over it fairly quickly.  What you have now are choices:
you can work part time, volunteer, or just loaf and fish if that's what you want.  I traveled four days a week for 27 years when I 
was working, so I'm catching up on all the deferred projects and maintenance that didn't get done and I have several hobbies as well.
I think a lot of folks  define themselves by what they've done
in their working lives, and when that ends abruptly, they question their value as productive people.  But of course, they haven't changed:
they're just as useful or productive.
You'll figure it out: just give yourself a break while you're doing it.


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## ddickey (Nov 26, 2019)

Congrats Mike.


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## kb58 (Nov 26, 2019)

I'm getting near that age as well and have yet to ask a financial planner, "is it enough." My worry is that he'll say something like "at this rate, you may be able to retire when you're 90..."

Seriously, the thing that gets me are the two great unknows, how long we'll live, and when and how we'll get sick. Both of those directly set "how much is enough", but we can't know them. The real worry to me is outliving one's retirement. Guess that's why they have greeters at Walmart...


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## mikey (Nov 26, 2019)

Hate to say this but the time to plan for retirement is when you're in your 20's to 30's. By the time you're in your 50's you don't have a lot of time. The key to a comfortable retirement is no bills - no mortgage, car payment, etc. - and enough money coming in monthly to handle your daily needs plus a good sized cushion for emergencies. Then you can let your investment account grow (without touching it except for emergencies) over time as you enjoy life.


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## HarryJM (Nov 26, 2019)

Retired first week of November last year and having a ball doing things on retirement time!


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## hotrats (Nov 26, 2019)

Congratulations! You'll enjoy it - best job ever!!  I hit retirement 3 yrs ago at 60. Had bought some shop tools, mill & lathe, and a car to modify/restore for retirement. So, as it stands, out of the 3 years retired, we've only been home less than half. We stay 3-6 months somewhere until we're ready to return home. And the shop mostly just sits at present...


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## graham-xrf (Nov 26, 2019)

Aukai said:


> I'm saying retired, but my mind says UNEMPLOYED


Congrats Mike! It's here now. You can't stop it, so cease to worry, and make the most of it!

I am "supposed" to be retired, but I have not yet managed to tear myself away from the rat-race entirely. No mortgage, I don't owe anything,  and I do not intend to be knocking myself out for some company until I have one foot in the grave. OK - I am messing with machinery in a modest way, and in various other ways, maybe "growing old disgracefully", but I hope to get used to it.


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## westerner (Nov 26, 2019)

Nogoingback said:


> I think a lot of folks define themselves by what they've done
> in their working lives, and when that ends abruptly, they question their value as productive people.


The above is fairly common in the folks I know as the time approaches. I am NOT one of them. I will retire within the year, at 61. I define myself by what I have done, period. Life as an employee, Husband, Father, Uncle, Nephew, Son, neighbor, friend, etc. I certainly appreciate what my life as an employee has done for my life as a retiree, but I do not correlate the two. I cannot wait, and my supervisors are scared. THAT is how it should be


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## NCjeeper (Nov 26, 2019)

I know how you feel. I retired May 1st. 2018. Weird because I have always had a job. Started mowing lawns at 13 years old to make money. Sometimes two or three jobs at a time. After awhile that urge to work fades as the pension checks hit your bank account and things just flow. Its nice having everyday Saturday.


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## 38super (Nov 26, 2019)

Start on that project you've always wanted or been putting off.


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## GL (Nov 26, 2019)

Interesting thread, especially for those of us at the "almost there" point.  I watched my dad retire at 62 and always assumed they would drag him out of work kicking and screaming at 70 something. He was so busy afterward he said he wondered how he ever had time to go to work.  Another guy I know retired at 55, but got up every day and went to his shop, even if to just hang out (happy guy).  I let work shape my life and dominate almost everything for 30 years.  Took a lessor job 3 years ago, same company, so I could take care of wife's health issues.  Kind of a retirement, but with a paycheck and I get to be the old guy they ask questions of and get it done when stuff hits the fan.  Nearly drove me crazy for awhile, but I like being home, I've seen most of the globe, and I don't have to worry about 30 guys anymore.  Getting to the point where a balance becomes when enough money offsets enough of this crap.  Not being defined by my job has been a transition, glad I didn't have to do it over a weekend and appreciate your dilemma.  I feel the most trepidation for those that get forced out instead of leaving on their own terms.   Have always had interests and hobbies, doubt if I get bored - always a problem to solve.  Or get some new problems to solve, Habitat is always looking for handy people.   Those that were successful in retirement found something to do, those that weren't sat in a chair and died.  Good luck, sounds like we have some successful people to emulate.


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## savarin (Nov 26, 2019)

One thing I've done my whole life is to start a reasonably difficult project and learn as I go.
By not worrying about the basics untill you need them often means you progress and learn much more in a shorter space of time.


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## savarin (Nov 26, 2019)

GL said:


> Those that were successful in retirement found something to do, those that weren't sat in a chair and died.


Aint that the truth


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## RJSakowski (Nov 27, 2019)

I retired six years ago.  While I enjoyed going into work, work and home projects demanded so much of my time that I had very little time for any hobbies or personal activities and I was jealously guarding against any new demands on my time.

With retirement, there are no more alarm clocks except for special occasions.  For the most part, if I don't feel like doing something, I don't have to do it.  Life has become largely unstructured. As the home improvement projects wind down, I am finding more time for my personal projects.

All that notwithstanding, time whizzes by.  It seems that one moment it's Monday and when I turn around, the weekend is here.  Weeks turn into months,months fly by, and it's hard to believe that it's been six years.


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## Janderso (Nov 27, 2019)

I'm reading every word. I'm one of those that is looking at retirement in a few years.
My wife retired two years ago, no three. She still works when she wants to as a consultant. She has a pension, I'll have Social Security and investments from both of us.
Medical insurance is a big concern-unknown. I hope the Medicare supplements won't be too bad.
Our financial guy says we will have a comfortable retirement as long as we are careful.
I hope he is right.
We don't owe anybody anything. I think that is very important.
Between work and home chores I get very little time in the shop.
\I can't wait for more time.


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## Aukai (Nov 27, 2019)

I really appreciate the kind words, and the encouragement. Like NC stated when the checks roll in, it will be easier I'm sure.


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## mikey (Nov 27, 2019)

To all you younger guys who are reading this, please consider this advice.

The way to retire successfully is to get into the stock market in some way as early as you can. Unless you are a market whiz, this usually requires a professional to help you. Contact an investment house and start an account with them, then have someone advise you on a good balance of funds to invest in. Then commit to sending a portion of your income to this account every single month first, without fail, and learn to live on what's left over. Do not touch this money unless you are in dire straits. Investment income grows with time through compound interest; the more time, the more it grows and that growth is exponential. Once you send money into this account, consider it invisible, it's gone. When you need it, it will be there. Meet with your advisor at least annually to review and re-balance your account. Don't tell anyone about this money except your wife. If you need a reason for doing this, its because as the head of the household you are responsible for ensuring the financial future of your family - this is how you do that.

In addition to the above, if you have a 401K or similar vehicle through your employer, join and participate as soon as you qualify to do so. This is especially important if your employer matches contributions as most do. Matching means that your employer will match your contributions up to a certain limit; yes, this is free money they are giving you. Your 401K will consist of a small number of funds or bonds that you can choose from; your money will go into those choices in the proportion you choose. Most companies contract with an investment firm to run their 401K and there are usually advisors available to you to assist in choosing funds and spreading out your investments; please choose to work with them. Put as much of your income as you can afford into your 401K. This money will typically be tax-sheltered and will grow all the faster for it. You will pay taxes on it at the end, when you're an older guy who will likely be in a lower tax bracket so it works to your advantage. In the meantime, this money will grow exponentially; slow at first, faster at the end. It is possible to make way more money in the market than you do in your day job if you invested wisely for a long time and you stayed the course.

The market will go up and down. At times, the market will go down and you'll worry but as sure as the sun rises every day, the market will recover and you will regain your losses. Typically you will recover your losses in a few days BUT you cannot know which days they will be; if you pull out, you may miss those days and lock in your losses. The thing to do is not to react and pull your money out. Stay the course and you will get past any bad times in the market.

I do not recommend relying on a bank account to save money for the future; banks pay a fraction of 1% in interest while they make double digits using your money to invest for their profit. Do not do it. Use the stock market yourself.

It is not enough to think about this. At this moment in world economics, investing is the only real vehicle we have. Do not think about it - get off your butt and go see an advisor now, then move on your plan. The time to do this is as soon as you are able to do it, not when you're 10 years away from retirement. Again, it is the amount of time IN the market that makes the difference. If you happen to be that guy who is 10 years away from retirement, the law allows you to contribute more than usual during this phase so put all you can in your account and listen to your advisor.

I started investing when I was 35, the age when I actually began to earn a decent wage. Nobody gave me any advice but if they did, I would have hoped they told me what I just told you.


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## 38super (Nov 27, 2019)

Watch out for Required Minimum Distribution (RMD) from your 401K, sneaks up on ya.


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## savarin (Nov 27, 2019)

All what Mikey said.
I dont know if you can do this in the states but it reduced my mortgage by 60%.
Have all your wages paid every month/fortnightly into your mortgage account (except for the investment amount)
Then live frugally off your credit card, I found there was no need to go without anything.
Religiously pay off the credit card from the mortgage account every month or whatever your interest free duration on the card is.
This has the effect of reducing your mortgage principle loan in big chunks thus reducing the interest that has to be paid on the remainder.
In Oz this is called a mortgage offset account but the states may have a different name.
Money can be withdrawn at any time.
The down side is they may charge a slightly higher interest so do the sums.
caveat
I am not a financial adviser but it worked for me allowing me to buy two houses.


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