Retirement and life after career

[Glycomann]

What are your plans? If you have already retired please comment on the process and your thoughts after starting and some time into it. I'll be 65 this year. I'm probably a couple years out. I have run some numbers. Although my total income will drop, based on different tax structure and policies, My net income will probably be much closer than what it looks like. What have you guys found?

 

[J.S.]

I retired from my first job in 2012, I was 56 and had a job that came with a pension every month. That’s what allowed me the flexibility, I still worked off and on for about five years, maybe a little more and didn’t start collecting my SSI till I was 66 and 4 months. My wife and I talked about things for a while before we did this, she worked for a couple of years longer till we saw how it was going work out, we sold the house and made good money on it and downsized to a condo, no more mortgage. We paid as much as we could off before we did this, it’s so different for everyone, I’d think way easier if there’s two then only one person involved. It’s a big adjustment! But make a plan and stick to it.

 

[chadmack]

At 52 in July I will probably never be able to afford to retire if the financial environment stays the way it been since 2020.
If i did retire i dont know what i would do to keep my mind occupied to keep from getting to deep into my own head.

 

[Meetketchup]

Just turned 50 and spent 25+ years in real estate on Long Island. Worked my ass off but was a thankless, stressful and non-rewarding career. Financially did very well which I don't regret but luckily started my coaching business around the same time and that has come close to matching my financial intake from real estate. I was also lucky to invest in properties, stocks and crypto in the past, which means I can go coaching full time which is my passion and is honestly considered retirement. Will probably happen within the next year or two as I have a lot of things to get in order.

Word to you young guys. Don't get into a profession you hate despite the money. If you can't make the money you want with your passion, then do it on the side while you amass some financial security. Don't get in debt, live within your means, always look to invest in something and take calculated risks. Life is a fine balance. The emotional reward from 1 client who says you've changed their life is more meaningful than a bank account.

 

[J.S.]

@Meetketchup said, Don't get in debt, live within your means


This is probably the most important thing one can do for a successful retirement. Iv known so many people that made good money and all they did is chase things that they saw other people get, a house bigger then they needed and then the two cars, boat, jet ski, snowmobile and motorcycles. Don’t get me wrong, nothing wrong in wanting things, but you have to live within your means. I always wanted to get that new truck, but kept the first one I got for 16 yrs. Making six figures and living paycheck to paycheck isn’t gonna do it.

 

[Milford King]

I dedicate the rest of my life, after retirement, to returning glory to the republic. To re-civilizing Europa and the North American continent. To bringing true justice to a corrupt and failed legal system. To the casting away of those who seek to destroy my people.

And probably a couple cocktails and some good music.

 

[Bigtoe]

I retired in my late 40s and for me its not been thr best of times. I thought it would be like a permanent vacation. The vacation slowly gets old and I actually miss working and doing things to feel productive. I went from using my mind daily to happy hour daily. This has definitely affected my cognitive ability. I use to make alot of complex parts and reverse engineering of machinery. Several years have gone by and I actually miss it. I think weekly about starting a new business or going back to work. As always in life you think back wishing you had not done something. My wish is not retiring. Palm trees and the beach use to give me a rush. Now its something that I see daily and it does nothing for me. I should have kept working, living in a place I didn't like and vacationed often for the palm trees and beach instead of the route I took. There is something for me about people needing me and my services I liked. I never thought that would be the case until it was gone.

Now I am thinking maybe go to school? Learn a new trade? The daily grind, I thought, was something I didn't want. Come to find out I think its something I need to be happier.

If you retire my advise is have a plan to keep busy and not do the daily vacation route as I have done. Volunteer or just find some to do and be part of something daily.

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[McPriimate]

Retired once at 53. Lasted a year. It was fun but I got restless and went back. Trying it again now a few years later. Just had a great winter, but that same restlessness is creeping in and I find myself returning phone calls to look at opportunities. While I love playing (family trips, skiing, boat, dogs and such) as well as being in the gym, not sure it’s gonna be enough day to day. So, might do some advisory work (basically episodic but keeps me engaged) or back full time (which would be a lot). Still tryna figure out the right balance tbh. A few more years and I’ll for sure be ready to step back to part time or just fully retire, but I like what I do and have energy, so atm it’s not 100% clear what I’d enjoy most.

As one friend put it last time, “The dogs will still be there to walk, so if you’re not sure then give it a go.” We’ll see…

First world problems lol


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[chadmack]

I retired in my late 40s and for me its not been thr best of times. I thought it would be like a permanent vacation. The vacation slowly gets old and I actually miss working and doing things to feel productive. I went from using my mind daily to happy hour daily. This has definitely affected my cognitive ability. I use to make alot of complex parts and reverse engineering of machinery. Several years have gone by and I actually miss it. I think weekly about starting a new business or going back to work. As always in life you think back wishing you had not done something. My wish is not retiring. Palm trees and the beach use to give me a rush. Now its something that I see daily and it does nothing for me. I should have kept working, living in a place I didn't like and vacationed often for the palm trees and beach instead of the route I took. There is something for me about people needing me and my services I liked. I never thought that would be the case until it was gone.

Now I am thinking maybe go to school? Learn a new trade? The daily grind, I thought, was something I didn't want. Come to find out I think its something I need to be happier.

If you retire my advise is have a plan to keep busy and not do the daily vacation route as I have done. Volunteer or just find some to do and be part of something daily.

Sent from my SM-S906U1 using Tapatalk

Acomplishing hard things & just figuring shit out is very mentally rewarding.

 

[demon]

Retired at 53 (now 58), but it only lasted a few months. I was incredibly bored. I ended up taking a part-time job at a local hospital, about 20 hours a week, and it’s been a lifesaver. The job keeps my mind active and provides a great balance between work, exercise, and spending time with family.