I'll bet you see stuff like that but it's lack of planning 1. Retire to something 2. Have a plan and understand the risk (and be flexible) 3. Create structure (exercise should be first on this list) 4. Don't care what other people think
I’m a subscriber, writing this note from halfway across the world. Despite living in India, a very different place socially, culturally and economically from where you are, I find your videos relevant, educational and fun. We don’t have 401 Ks and Social Security, we may not have to worry about timing our Roth IRA conversions or reducing our RMDs, but we have our own set of challenges to overcome in order to fund our retirement. To that end, your more general videos (like this one) transcend our differences and offer great value to people like me in their mid-fifties, who are daring to contemplate retirement. Great job James, keep ‘em coming! 😊
It took me about eight months to find the daily structure I use now. I feel having a structure for the morning is important as it sets things in motion for the day. Mine works for me as it combines socialization, learning, being productive and exercise. And enjoying the outdoors.
Probably learning what was the best order for the activities. Originally I thought of exercise as earlier, but switched to mid-morning to let me complete things first. That gave me a chance to enjoy the mid-day outside. And then I follow up the exercise with a nap. LOL. Then back to tasks.
My body started telling me I should retire. 45 years of skilled trades wore my body out. Bad back, bad knees, bad hips and just tired. Not motivated to get up to go to work.
My older brother shared he had a difficult time transitioning to retirement. He said no one tells you how different it will be. The social aspect especially. That never occurred to me. I always couldn’t wait and am still a few years away. I’ve been a subscriber and glad I found this video.
A trick I used was in my mid 30's told myself I would off myself at 75. OK, calm down. Not an absolute. It was just a way of defining my lifespan. I basically was say I would "live" until 75 and then anything after that would be gravy. I would be OK if my money ran out at 75. Years later Dr Ezekiel Emanuel wrote in a book or article the exact same thing, even the same age of 75. Didn't go over very well. That allowed my to retire at 45 with very little savings. I'm 66 now and loving life. Now I can see myself living o 95, 106, whatever. Haven't even taken SS yet. It has shocked me how little money I needed.
YOU are right. Retirement is more than the numbers. Good video. Church helps greatly. Great deep friendships with common interests/goals. “Profession”: IF asked, I respond, “I am a Portfolio Manager”. “Structure”: If you have a dog, this greatly helps. There is no snooze-bar on a dog.
I just celebrated my 9th year of full retirement on Sept 1 at age 58. I loved my job but felt the time was right when I was still productive in my job. I didn't want to get to the point when or If my employer started to hint I was long in the tooth. I absolutely have zero regrets in my decision to retire. I have no debt and financially secure. I will be collecting my max SS in 2 years at 70. Thank you for the video.
I feel sad for the people that believed they were what their job was. The same people that take pride in bragging I worked for "x" corporation for forty years. I took more pride in the fact that I retired from "x" corporation after only 32 years. My job wasn't who I was, but what I did So glad I was able to retire early and now focus on health, family, community and charity.
spot on - I am going through this journey now - having enough money to retire but not yet willing to cut the job-cord ... I don't yet have a plan on how to spend time in an enjoyable way throughout the year. Even San Diego's winter would not be so much fun ....
Hello Peter here in the U.K. James. I started work in 1976 at 16 years of age - now 63.5, still contemplating retirement because it was drilled into me from the 1970's here in the U.K. that at the time men retire at 65 and women 60. Now 65 for both due to equality now. However, I mentally struggle with this 65 years of age number - yes I feel guilty to retire at 63.5 years of age now - it's ridiculous really, aside of the financial side the psychological side really does have a massive impact......
Like I said below, second shift and single the last 10 years, I have a fear of loneliness when quitting my job. No one to share the retirement experiences with. It I’ve alway read a person has to be happy before entering a new relationship and not thinking a relationship will make us happy. So I guess that’s my biggest retirement obstacle
The “Monday” problem? Lol, for retired folks, that’s the day that store hours return to normal… and are less busy during “work hours”! Otherwise, it’s simply another day of the week. ;-) Solid points - a key one being - you’re only “young” for a limited time. Do not wait or you’ll miss your “go-go” years in retirement. A general theme - what others think? Once you’re fully “wise”, something that usually comes with age, what others think about your retirement choices matters little. Live your own (and spouse’s) life!
They need to teach this in schools…”life transitions..” we are all many things; it’s up to us to re-invent ourselves each life season. Along the way try new things and read!!!!!!! In order to discover who you are, what your passions are and your values and how you want to spend your time. Thk God for RUclips! 😉❤️🥰
I arranged with work to take a pay cut and work 32 hour weeks. My Monday morning has not had the "alarm clock" since January 2022. I don't miss it! I think you hit the nail on the head with identity and perspective. I have an unreasonably large (and almost certainly never to be repeated) bonus payment next March. I'm thinking of it as a marker.
Excellent video. You hit all the right feelings and thoughts most people go through. It's been 8 months retired and I love it due to following your videos/ wisdom on going into retirement and what might happen. Thank you again.
Great video, James! Retirement can be hard for many folks. I totally get what you said about the identity challenge. It's tough to imagine life without the jobs we've had for so long.
Funny I am doing a lot of the same things as I did while working, but I get to pick out what to do. And take a nap whenever I please. Heh. So my identity hasn't changed a lot.
Another problem is mentally convincing our brain that we have enough to retire on, very difficult cutting branches off our money tree rather than watering it and watching it grow. I’m at 150+ % on the Monticarlo model but at times I don’t trust it or feel it’s accurate.
Excellent points. We want to travel more. A lot more. We've been travelling during summer and winter breaks, but now we know we can easily spend more on that.
I'll bet you see stuff like that but it's lack of planning
1. Retire to something
2. Have a plan and understand the risk (and be flexible)
3. Create structure (exercise should be first on this list)
4. Don't care what other people think
Agreed. Good list, John.
I’m a subscriber, writing this note from halfway across the world. Despite living in India, a very different place socially, culturally and economically from where you are, I find your videos relevant, educational and fun.
We don’t have 401 Ks and Social Security, we may not have to worry about timing our Roth IRA conversions or reducing our RMDs, but we have our own set of challenges to overcome in order to fund our retirement.
To that end, your more general videos (like this one) transcend our differences and offer great value to people like me in their mid-fifties, who are daring to contemplate retirement.
Great job James, keep ‘em coming! 😊
I’m happy to hear that! I’m glad you’re enjoying these videos from India.
It took me about eight months to find the daily structure I use now. I feel having a structure for the morning is important as it sets things in motion for the day. Mine works for me as it combines socialization, learning, being productive and exercise. And enjoying the outdoors.
Great job! What was the hardest part about finding the new routine?
Probably learning what was the best order for the activities. Originally I thought of exercise as earlier, but switched to mid-morning to let me complete things first. That gave me a chance to enjoy the mid-day outside. And then I follow up the exercise with a nap. LOL. Then back to tasks.
Way to improvise! Thanks for sharing that. It’s helpful.
My body started telling me I should retire. 45 years of skilled trades wore my body out. Bad back, bad knees, bad hips and just tired. Not motivated to get up to go to work.
My older brother shared he had a difficult time transitioning to retirement. He said no one tells you how different it will be. The social aspect especially. That never occurred to me. I always couldn’t wait and am still a few years away.
I’ve been a subscriber and glad I found this video.
A trick I used was in my mid 30's told myself I would off myself at 75. OK, calm down. Not an absolute. It was just a way of defining my lifespan. I basically was say I would "live" until 75 and then anything after that would be gravy. I would be OK if my money ran out at 75. Years later Dr Ezekiel Emanuel wrote in a book or article the exact same thing, even the same age of 75. Didn't go over very well.
That allowed my to retire at 45 with very little savings. I'm 66 now and loving life. Now I can see myself living o 95, 106, whatever. Haven't even taken SS yet. It has shocked me how little money I needed.
YOU are right. Retirement is more than the numbers. Good video.
Church helps greatly. Great deep friendships with common interests/goals.
“Profession”: IF asked, I respond, “I am a Portfolio Manager”.
“Structure”: If you have a dog, this greatly helps. There is no snooze-bar on a dog.
I just celebrated my 9th year of full retirement on Sept 1 at age 58. I loved my job but felt the time was right when I was still productive in my job. I didn't want to get to the point when or If my employer started to hint I was long in the tooth. I absolutely have zero regrets in my decision to retire. I have no debt and financially secure. I will be collecting my max SS in 2 years at 70. Thank you for the video.
I feel sad for the people that believed they were what their job was. The same people that take pride in bragging I worked for "x" corporation for forty years. I took more pride in the fact that I retired from "x" corporation after only 32 years. My job wasn't who I was, but what I did
So glad I was able to retire early and now focus on health, family, community and charity.
spot on - I am going through this journey now - having enough money to retire but not yet willing to cut the job-cord ...
I don't yet have a plan on how to spend time in an enjoyable way throughout the year. Even San Diego's winter would not be so much fun ....
All valid points, as a recent retiree I’ve faced points 1-3 and have mostly overcome them.
Glad to hear that. What helped you overcome those challenges?
Hello Peter here in the U.K. James. I started work in 1976 at 16 years of age - now 63.5, still contemplating retirement because it was drilled into me from the 1970's here in the U.K. that at the time men retire at 65 and women 60. Now 65 for both due to equality now. However, I mentally struggle with this 65 years of age number - yes I feel guilty to retire at 63.5 years of age now - it's ridiculous really, aside of the financial side the psychological side really does have a massive impact......
Hi Peter. Thank you for sharing. That’s a challenge many people can relate to.
Like I said below, second shift and single the last 10 years, I have a fear of loneliness when quitting my job. No one to share the retirement experiences with. It I’ve alway read a person has to be happy before entering a new relationship and not thinking a relationship will make us happy. So I guess that’s my biggest retirement obstacle
Thanks for sharing that, David. Good perspective.
this year I am easing from work, cutting from 40 to 30 hours per week. Also able to access my retirement balance later this year.
The “Monday” problem? Lol, for retired folks, that’s the day that store hours return to normal… and are less busy during “work hours”! Otherwise, it’s simply another day of the week. ;-)
Solid points - a key one being - you’re only “young” for a limited time. Do not wait or you’ll miss your “go-go” years in retirement.
A general theme - what others think? Once you’re fully “wise”, something that usually comes with age, what others think about your retirement choices matters little. Live your own (and spouse’s) life!
They need to teach this in schools…”life transitions..” we are all many things; it’s up to us to re-invent ourselves each life season. Along the way try new things and read!!!!!!! In order to discover who you are, what your passions are and your values and how you want to spend your time. Thk God for RUclips! 😉❤️🥰
That’s right. Thanks, Barbara.
I worked second shift the last 7 years need to reestablish friends again, very lonely shift
I arranged with work to take a pay cut and work 32 hour weeks. My Monday morning has not had the "alarm clock" since January 2022. I don't miss it!
I think you hit the nail on the head with identity and perspective. I have an unreasonably large (and almost certainly never to be repeated) bonus payment next March. I'm thinking of it as a marker.
Excellent video. You hit all the right feelings and thoughts most people go through. It's been 8 months retired and I love it due to following your videos/ wisdom on going into retirement and what might happen. Thank you again.
So happy to hear that! Thanks, Julie.
Great video 👍
Glad you enjoyed it!
Great video, James! Retirement can be hard for many folks. I totally get what you said about the identity challenge. It's tough to imagine life without the jobs we've had for so long.
Absolutely!
Funny I am doing a lot of the same things as I did while working, but I get to pick out what to do. And take a nap whenever I please. Heh. So my identity hasn't changed a lot.
Another problem is mentally convincing our brain that we have enough to retire on, very difficult cutting branches off our money tree rather than watering it and watching it grow. I’m at 150+ % on the Monticarlo model but at times I don’t trust it or feel it’s accurate.
Absolutely. Being financially ready and being mentally ready are two different things.
Excellent points. We want to travel more. A lot more. We've been travelling during summer and winter breaks, but now we know we can easily spend more on that.
Thanks, Janet!
Thanks James. Great video. I’m living all 4 of these challenges.
Thank you! You’re not alone in that. It’s a difficult transition.
Parent expectations: Perhaps early retirement would allow you to spend more time with and assist your parents.
Great content James!!
Thank you!
I plan on being more healthy sociable serve at my church more.
Glad to hear that
Man, so people had no life before they retired?! Kind of a lame video.