Has your first year of retirement gone as planned?

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grampi

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I'm almost 9 months into retirement now and I'm curious as to how my initial experience compares with others who are at this point. So far, retirement for me has been very enjoyable. Leading into the end of my working career I was concerned about two things; becoming bored in retirement, and not having enough income. For the most part, that hasn't been the case. Financially, we are doing better than I expected. I am able to add to our savings account after every monthly payment we receive. I say this not to brag, but to show my gratitude to be fortunate enough to be able to retire comfortably. Not everyone is this fortunate. My day begins with no alarms, I get up when I feel like getting up. That sounds like I sleep in, but I'm actually up by around 7:30 every day. This actually IS sleeping in compared to when I was still working. I get up, make coffee, feed the dog, check my email and forum messages, then I meet up with other old codgers at a nearby Bob Evans. When my wife and I aren't both busy at the same time, we do a considerable amount of dining out, and just enjoy each other's company. She retired 5 days before I did and she now volunteers at a service dog training facility (which is also where our youngest daughter works). The reason I said "for the most part" is because a lot of keeping myself occupied depends on the weather. We are currently in a frozen weather pattern that looks to be sticking around for a while...problem is, I'm an outdoors person, but not in the winter. I still get outside, even in the cold, but this isn't my favorite time to be outside. Since retirement, I've joined an RC flying club (yes, I fly), and just recently purchased a motorcycle. Unfortunately, neither are any good in the winter. Somehow my days still get filled with enjoyable projects, interesting online reads, motorcycle threads, automotive threads, youtube documentaries, etc....occasional TV programs, streamed movies and series', listening to the music of my choice on Alexa, and the biggest bennie, spending more time with my grand kids....they're only little once...I remember how impressionable my grand parents were when I was little, I want to leave that memory with my grand kids.

My retirement's going at least as good, or better than I had hoped for...how's your's going?
 
I'm glad to hear about your good experience. My retirement is 3 months away. I too am nervous about my finances. Just my fixed costs (property tax, association fees, insurance, utilities, car) make up at least 60% of my disposable income while working, if not more. I'll have plenty to keep me busy as long as my health doesn't give out. My house in the woods lakeside property needs constant attention. For hobbies, I have a large stash of old tube radios I'd like to restore and get them singing again.
 
All positive so far! Just finished 30 minutes of ab workout. Some of those are TOUGH at 62 with an office belly. Other than making me poop like a maniac, it's all good. I do rapid aerobic one day, weight the next then abs the 3rd and start again. Of course we take hikes and walks whenever.

Money is fine. Budget is good. Yes same worries. Totally normal no matter what you tell yourself. Was tempted to have Fidelity run a portion of my portfolio, but I will stand pat on DIY. What they are running at a .50-.75% fee I can do myself. Well frankly the bond portfolio set up and control it is NOT a rip-off (they make and control a complete ladder or ladders to your specs) but I really don't want that much in bonds. I get it, but no. They graciously and nicely backed off.

My largest worry is health care cost, and although there will be steps until Medicare, etc, should be OK

The largest issue is just how darn slow my former employer is on EVERYTHING. Takes FOREVER. They say they sent something and they didn't. One person will describe something and in reality that simply is not: how it works/the truth/how the next person described it. Pretty messy from pension to waiving stuff to COBRA and the rest. It seems to be straightening out, but if you were a widow, or not sharp or just not paying attention the thing could cluster and blow real quick.
 
I been retire for almost 6 years, the money thing is fine but like real state location, location.

I do know that my 1 dollar is worth a lot more in other parts of the world and will happy to make that switch if needed.

Just keep it simple and do what you enjoy, life is one way street only.:)
 
ecotourist said:
Retirement is good. There's lots to do, in fact I'm hard pressed to get it all done.

My big issue in retirement was walking away from my credentials. I knew I didn't want to (or need to) work any more but it seemed very strange to just leave it all behind. That feeling lasted at least a year.
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I still have that feeling, as odd as it sounds when I was verbally telling this to someone, they didn't exactly get it. Just think of it as having all the knowledge acquired but not needing the degrees, certificates, etc. Kinda cool in a way.

Life Phases, you only get 3 :ROFLMAO: - the trick in life is to have enjoyment and glory in all 3!
Phase 1: 0-22 (or ~25 or so) - Learning, absorbing, becoming accountable to the human race, finding a path and a purpose, etc
Phase 2: 25-60 (or so, no precision here) - Working, saving, raising a family, staying accountable to the human race, following and leading, etc
Phase 3: 50-60+ - Retirement, freedom, real joy,

I forgot to post some current events, I am busy. Taxes, taxes, taxes, BUT I am ready(for once) and the IRS isn't. Did some back end web site changes, and other Sick Bike Part stuff. Amsoil business is great. Had a local sale of odds and ends in the shop, $1900 worth! And the shelves are near bare. Wow, and a bunch of new LOCAL customers, some from BITOG (!) and some from Tacoma World, most just want some oil. My monthly Amsoil check really helps retirement. Don't get my first pension check until March 1.

And I forgot our #1 challenge! Finding a place to live and enjoy somewhere between here and the Canadian border. There are simply no places for sale........but we are not rushing it.
 
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My wife is fully retired and I've cut back my work to a flexible part time arrangement. We moved to a less expensive locale with warmer weather away from NE snow, ice and freezing temps. We just started on Medicare with a free prescription and medicare supplement policy from her company.

She is happy as can be not working, and I will be doing the same before too long. If you can swing it financially, go for it!
 
To the OP. You don't say what your current income is, very understandable. Nor the age at which you retired, so it's hard to compare retirement scenarios. But as long as you have some money to spend, you'll be OK.
I retired at 60 y/o in 2009 after 28 years of hard work. My 401K with company match in addition to a defined benefit plan has served me very well. 3 annuities take the worry out of continued income, and the 401K money was rolled over to an IRA with a 4.3% annual yield. I only spend the dividends, and don't touch the principal.
Let's just say that my SS check goes straight to savings for that "next big purchase".
When you decide to get tired of winter, drop on down here. We did, and never looked back. And if you have a hard time finding stuff to do, just move to "The Villages". It encompasses 5 zip codes!

I also think we were working at a time when a person could put money into a 401, and have a pension to look forward to. Also able to do a lot of work on cars and home repairs ourselves. I don't think young people working today can do ANY of these things, nor do they understand why they should.
 
The answer in my case is no.

I expected to just get by and maybe augment my pensions with a second job. Retired once in '95 from the military and again in 2011 from civil service. Then I inherited a large estate from my brother also my investments really improved so financial issues have faded in the rear view mirror. Health care costs are zero between Medicare and military. Wife retired from her profession and let her license lapse. Now I have never had so little time in a day to do what I need to do. I know now planning for retirement is mission critical. I would caution against doing what I did and take the chance that providence will take care of the future like I did because well, I'm me.

But sometimes the Creator looks after fools. 🙏
 
Retired in Nov 2019 from my last job of 26 yrs, love the freedom but had to get used to not getting ready for work ;), both the wife and I are fully retired, fine financially, I have my military pension and SS and she has her SS and state pension. Overall life is good but then covid came in and messed up a lot of our plans but we are not spending a lot of money. I just thank the good lord everyday when I get up in the morning. :)
 
JohnnyG said:
To the OP. You don't say what your current income is, very understandable. Nor the age at which you retired, so it's hard to compare retirement scenarios. But as long as you have some money to spend, you'll be OK.
I retired at 60 y/o in 2009 after 28 years of hard work. My 401K with company match in addition to a defined benefit plan has served me very well. 3 annuities take the worry out of continued income, and the 401K money was rolled over to an IRA with a 4.3% annual yield. I only spend the dividends, and don't touch the principal.
Let's just say that my SS check goes straight to savings for that "next big purchase".
When you decide to get tired of winter, drop on down here. We did, and never looked back. And if you have a hard time finding stuff to do, just move to "The Villages". It encompasses 5 zip codes!

I also think we were working at a time when a person could put money into a 401, and have a pension to look forward to. Also able to do a lot of work on cars and home repairs ourselves. I don't think young people working today can do ANY of these things, nor do they understand why they should.
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I won't say how much my income is, but I will say my wife and I have more disposable income in retirement than we had when we were still working, and we never had to do without much then. I retired at age 62 and my wife went at 59...
 
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Passport1 said:
The answer in my case is no.

I expected to just get by and maybe augment my pensions with a second job. Retired once in '95 from the military and again in 2011 from civil service. Then I inherited a large estate from my brother also my investments really improved so financial issues have faded in the rear view mirror. Health care costs are zero between Medicare and military. Wife retired from her profession and let her license lapse. Now I have never had so little time in a day to do what I need to do. I know now planning for retirement is mission critical. I would caution against doing what I did and take the chance that providence will take care of the future like I did because well, I'm me.

But sometimes the Creator looks after fools. 🙏
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I too am both retired military and retired civil service, which really sets up our medical coverage really well...
 
Lubener said:
I feel like a worker bee that is not part of the colony anymore.
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Overwhelming responses here are mostly positive. We haven't heard from anyone experiencing negative outcomes, other than some like Lubener mentioning the adjustment part.

I turn 66 next year, when I am considering retirement. I'm one of those who has been preaching that my career is a lifestyle that I am passionate about. I am already doing some retirement activities while still employed. One recent coworker retiree (68) said wait until you "feel" like you are ready. I have to admit that the current health and politics circumstances has started turning my thoughts.

I love Pablo's 3 phase explanation. Health issues is the one fly in the ointment regarding step 3.

I would appreciate if the responses here include helpful tips. I hear that some men have difficulty adjusting and become bored, disillusioned after the first year.
 
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I'd say do it sooner than later if you dare.

When you are young and retirement is sailing well over the horizon seems there is plenty of time but money is always running out. Then when retirement is tied up at your dock seems you might have plenty of money but time is running out.

Imperceptibly, at some point in life essential priorities get flipped.

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Passport1 said:
I'd say do it sooner than later if you dare.

When you are young and retirement is sailing well over the horizon seems there is plenty of time but money is always running out. Then when retirement is tied up at your dock seems you might have plenty of money but time is running out.

Imperceptibly, at some point in life essential priorities get flipped.
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Yes, and for salaried folks there are three times to put the max allowed in savings:
Young/middle aged/older …
 
I ended up having to retire on SS disability about 15 years ago because of a back injury so my retirement hasn't been near what I was expecting. I'd thought that would be a time my wife and I would be able to travel and do things together we enjoyed. As it worked out I'm home while she's working toward her retirement. I'm also in constant pain. When she retires we won't be able to do lots of traveling like we'd planned since driving more than a couple hundred miles in a day makes my back pain considerably worse. I wouldn't be able to drive 200 miles a day on a constant basis either maybe once a week or so without having a terrible impact. Thankfully during my working years I made decent money, had the house and cars paid off with some money in the bank and in retirement funds. We don't and never have tried to live beyond our means so we're able to keep the bills paid and have a few things we want on my SS and her income so I don't have anything to complain about.
 
I want to retire badly, probably much more than the average 57 year old does. This is due to the physical exhaustion of working almost 40 straight years of rotating 12 hr. shifts. The hangup is heath insurance and the last of three kids still in college.

Its tough to keep going but I am going to ride it out to maybe 62. I think.
 
I retired the first time at 52, from a company I worked at for 26 years. The corporation completed bankruptcy and my retirement years of service were frozen at that point.
The reason I made that decision was that one of my old bosses called me the day before and asked if I would come to work for him. Same industry, same job, sister plant now owned by a different corporation.
The job change was like walking out of my office in one state and walking back into the same office in another state a week later. All of the operating system were the same.
I worked there for 10 years and retired for the second time in 2013 at 62.
Full benefits and pensions from both companies.
Can't complain. Loving retirement. I'll be 70 next month.
 
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