Retirement Advice From Those Who Learned the Hard Way

[jackio]

Retirement: "A never-ending weekend."

Speaking of weekends:
Working people seem to think they can take time off. Offices close.
To us retired people, it means we can't get stuff done.
Now, I look forward to Mondays (or the next workday)...
when working people go back to work. <bah-humbug>.

I was tied to the school schedule for 27 years. Now that I am retired I love going to the stores without crowds, and being able to vacation when the airfares and rates are cheaper, and the crowds are down.

 

[am1]

I was forced into retirement when Wyndham froze account and offered a settlement. 5-6 years ago so around 35. I work even harder now with manual labour or managing people doing manual labour/repairs. Just rolling with the punches. Thankfully it’s not what you make but what you save and spend that are important.

 

[Patri]

For those of you with a healthy spouse that you can travel with, or just do things together, or talk to, count your blessings. That changes the whole retirement picture, regardless of how much money you have.

 

[TheTimeTraveler]

One thing I can clearly say about retirement; "Every day Is a Saturday".




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[Passepartout]

For those of you with a healthy spouse that you can travel with, or just do things together, or talk to, count your blessings. That changes the whole retirement picture, regardless of how much money you have.

This is absolutely TRUE! When Paula fell in Mexico breaking her right (dominant) arm and requiring surgery and basically around-the-clock care ever since has made me VERY aware that good health and ability is a blessing worth savoring and protecting because when it goes away for one life partner, it has profound effect on the other. Since then there has been a succession of doctor's appointments, I am the resident chef and laundry doer. Fortunately we are able to afford a housekeeper, but even so, I have to be alert to 'would you get me. . . .' or I can't. . . . .' And it won't get much better. Give thanks for your blessings, but they won't be forever.

 

[dago]

No one thinks about long term care insurance until they need it and then it is too late.

Yeah. They never think of it, or in my case, thought about it, but like most people thought it was too expensive and couldn't afford it. MY FA told me I cannot afford to NOT have it. I took his advice and indeed purchased LTC insurance for both of us. Now that I have a claim in for my spouse, I am glad I took his advice.

 

[WinniWoman]

This is absolutely TRUE! When Paula fell in Mexico breaking her right (dominant) arm and requiring surgery and basically around-the-clock care ever since has made me VERY aware that good health and ability is a blessing worth savoring and protecting because when it goes away for one life partner, it has profound effect on the other. Since then there has been a succession of doctor's appointments, I am the resident chef and laundry doer. Fortunately we are able to afford a housekeeper, but even so, I have to be alert to 'would you get me. . . .' or I can't. . . . .' And it won't get much better. Give thanks for your blessings, but they won't be forever.

Yes. Since my back injury and subsequent spine surgery my husband has been a saint, giving me a new appreciation of our relationship.

 

[WinniWoman]

One thing I can clearly say about retirement; "Every day Is a Saturday".




.

We feel like we’re on vacation every day! Where we live is like living at a timeshare resort full time!

 

[b2bailey]

I may have a new favorite saying: "Retirement is Hell for extroverts and Heaven for introverts." Thanks!
another one "Retirement is Hell for control-freaks and Heaven for The Chill."

I have a dear friend -- 80+ -- pure extrovert -- she loves retirement.

 

[b2bailey]

One thing I can clearly say about retirement; "Every day Is a Saturday".




.

I sometimes tease that the only thing I don't like about retirement is missing the joy of TGIF.

 

[b2bailey]

We feel like we’re on vacation every day! Where we live is like living at a timeshare resort full time!

Happy to hear from you -- and glad you're happy in your 'new' home.
How long has it been?

 

[Passepartout]

As one who has been there. . . .

 

[DrQ]

Americans reveal what they need to earn to feel secure - and how much more they need to feel rich​

• The average person in the US thinks they would need to earn $233,000 to feel comfortable when it comes to money
• Americans felt the state of the economy was holding them back from feeling financially secure, according to the survey
• Rising interest rates, inflation and insufficient retirement savings were also common concerns

Americans reveal what they need to earn to feel secure

Amidst rampant inflation and an uncertain economy, some 72 percent of those surveyed said they did not feel secure when it comes to money.

www.dailymail.co.uk

 

[WinniWoman]

Happy to hear from you -- and glad you're happy in your 'new' home.
How long has it been?

Thanks. We moved in Feb 2020.

 

[WinniWoman]

As one who has been there. . . .
View attachment 78838

Was at the lake today! Floating next to a beautiful loon. At 8 am the only one there in the water. What I imagined retirement to be.

 

[WinniWoman]

I sometimes tease that the only thing I don't like about retirement is missing the joy of TGIF.

It’s true! And I miss the anticipation and planning of vacation since we’re permanently on it! Lol!

 

[WinniWoman]

I have a dear friend -- 80+ -- pure extrovert -- she loves retirement.

I’m borderline, leaning extrovert but actually preferring introversion. And I love it! I knew I would because I wanted to retire the first day I started to work as a teenager! Ha! Ha!

 

[zentraveler]

Yeah. They never think of it, or in my case, thought about it, but like most people thought it was too expensive and couldn't afford it. MY FA told me I cannot afford to NOT have it. I took his advice and indeed purchased LTC insurance for both of us. Now that I have a claim in for my spouse, I am glad I took his advice.

It seems expensive every time I write the checks, but I watched my MIL get wonderful care for 1-2 years with serious dementia and I am grateful to have it and consider it a good investment even if we never need to use it. Good, comfortable care for the elderly or disabled costs money just like all of the things we insure.

 

[ScoopKona]

​

• The average person in the US thinks they would need to earn $233,000 to feel comfortable when it comes to money

I'd love to say I'm surprised by that number. But, sadly, I am not. They could get by on considerably less -- and still live "the good life" -- if they weren't so chained to mindless consumerism.

I live on about $20K per year, all in. Granted, I had to spend a great deal up front in order to put myself in a position where I can live on that. I think the trick to not worrying about money is not needing much of it in the first place. (Although Epictetus came up with that idea a few thousand years before me.)

 

[ScoopKona]

It seems expensive every time I write the checks, but I watched my MIL get wonderful care for 1-2 years with serious dementia and I am grateful to have it and consider it a good investment even if we never need to use it. Good, comfortable care for the elderly or disabled costs money just like all of the things we insure.

Imagine if we widened the risk pool to... say... I dunno... the entire population?

 

[b2bailey]

It seems expensive every time I write the checks, but I watched my MIL get wonderful care for 1-2 years with serious dementia and I am grateful to have it and consider it a good investment even if we never need to use it. Good, comfortable care for the elderly or disabled costs money just like all of the things we insure.

It is rare to hear of "wonderful care" -- in an institutional setting?
My mother was "housed" in one of the best -- still a horrible place to visit.
Stepmother was in another highly rated location. When she had her own 1 bedroom with mini kitchen and all meals available in dining room which was like a restaurant -- it was good. Then, when they moved her to dementia unit -- she shared a small room and it cost $2,000 more per month.

 

[Sandi Bo]

I was fortunate to work for companies with decent 401K matches. I don't know who so deeply ingrained it in me -- but I always lived by the rule if someone was offering you free money, figure out a way to take it. Regardless of what else financially might have been going on in my life. I always contributed the max amount to my 401K that I could -- that my company would match. I offer the same advice to my children (and I suppose anyone else that will listen). Here we are at 65 and able to retire "on our own" - meaning what we saved we can now support ourselves on. Social security is a nice boost - but with what we saved we can be comfortable, hopefully not a burden to our children, and hopefully leave them a little something when we're gone.

 

[artringwald]

One thing I can clearly say about retirement; "Every day Is a Saturday".




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Except on Sunday when the fat paper comes.

 

[Luvtoride]

Our retirement life, much like our life before retirement, has been filled with family and friends. I had a grand daughter fall asleep on my lap last night watching fireworks and in a few minutes the older grand daughter that spent the night will be heading to the cabin with me to check our rat traps. My opinion is that money spent making good memories with people is always the best investment.

Bill

Easyrider, so true. That is the basis of the book “Die with zero” that many of us here have read and talked about.
This week, we went from watching fireworks with our 4 year old and 4 month old grandchildren at our shore home, to now being in Ocean City, Maryland watching our older granddaughters (almost 12 and 10) dance in a National competition.
I retire in 2 weeks and these are the types of things we look forward to doing more of in our years (hopefully many) ahead.


Sent from my iPhone using Tapatalk

 

[artringwald]

1) Travel as much as you can while you're at a young retirement age. As you get older, it gets harder to travel.
2) If you have young grandchildren, spend as much time as you can with them. As they get older, they'll get busy and won't be available as often.
3) Before you retire have a plan for all the things you'd like to do. Those first couple of months you don't want to let yourself get bored.
4) Find an exercise you enjoy and stick with it. Many Medicare plans include free gym membership. Community programs also sponsor activities for seniors.
5) Go to restaurants and movies at off peak hours to avoid the crowds and get discounts.