Ok, so we are old and retired. Now what??

[crimsonghost747]

I actually had the idea for this thread for a while now. There seems to be quite a few members here who have either very recently retired or will be doing so in the next year or two.

This thread can serve as our general retirement talk thread. A place where we can talk about our plans to retire soon, to share thoughts and observations about what it is like during those first few months, maybe even a place where we can have a chat about awesome and productive things to do during our well deserved free time. Basically a place where all the old grumpy people can discuss life at 5am since we are up anyway because we had to go to the bathroom. 


I'll throw in some more details about my own plans tomorrow. It's way past my bedtime now.

[fenders53]

My retire date is somewhere in the APR-MAY 22 time frame. I think this thread might have some staying power so I'll throw up some bullets to get it started.

-Not saying I will never work another day in my life, but it will be on my terms now. Whether the market is up or down 15% the first few years would weigh on my decision. Even thought about taking a leave of absence rather than quitting my HD part-time Gig. Pay isn't great but I like most of my co-workers and managers. We'll see.

-There will be a considerable amount of fishing the next few years. I will probably buy a modest RV so I can wander some states and leave when I like.

-I will garden again. Hell I may not be able to afford food the way inflation is going lol. Maintaining my landscaping is a little much. I'll have to address that and it will be hard work.

-I have a nicely equipped wood shop. I should do some of that or sell my gear.

-I have old automobiles. I need to streamline that some.

-I will play stock market, but I have to get a leash on my option flipping. I can simplify it. I can also just throw that part pf my port in index funds for extended periods of time.

-I would really like to move but my mother is very old. I will stick around for now. Moving will be painful anyway. I have too many toys. There is no urgency.

-

[crimsonghost747]

Righty, so something about my own plans.

I'm actually relatively young, age still starts with a 3. But I've had enough of this working life, at least for now. Basically I've worked super difficult / hard jobs all my life and my life has, so far, just revolved around work. Don't get me wrong, I have had an absolute blast and I have zero regrets, but there is so much more to life than work.

Basically what I am after is more financial independence than "retirement." I want to be in a position where I do what I want, when I want. If it is to go fishing and drink beer then I'll do that. If I see an interesting job offer and feel like giving it a shot then I'll apply and go do that. I know I will need to keep myself busy, so some random interesting work or maybe starting a business are definitely on the table. The point is: I want to be over and done with the situation where I go to work only because I need the money to survive.

Financially, I think I've reached that point already. I believe my dividends will be enough to give me the cash flow I need for a simple but good life. I do not require much. As I said earlier, I don't mind working a bit here and there (in fact, it's a necessity so I don't get too bored!) but the cash flow used for everyday expenses will be coming from my investments. I might even end up working full time at some point again, but if that is the case then it will be because the job has more to offer than just money.

I'm still employed, but I will be quitting sometime in 2022, most likely in the first half. I always said that I'm racing against fenders to see who can retire first. Looks like it'll be close!

First order of business is to settle down somewhere, I've been basically living out of my backpack for the better part of the last decade. Scratch that. It's been more than a full decade now since I actually had a permanent residence. And then I guess it'll be a few months of just taking it easy and enjoying life, maybe focusing on my university studies a bit more. Who knows what happens after that, but I'm curious to find out.

I've been aiming for financial independence since I was 20 or something, and very actively pursuing it for at least the past decade. Now it's only one resignation letter away. Feels amazing, and quite odd at the same time.

[cemanuel]

I'll add something to this tomorrow. As of today I'm still gainfully employed. But after 4 p.m. . . .

The cliff notes version is that I don't know what I'll do. I have this long list I call "possibilities." One or more of these or maybe something new. I'll do something. Related to fenders53, I like to do woodworking and have a lot of tools and a new pole barn. I also took an old barn down last spring and have a honkin' pile of old wood. Building stuff with it, enough to have a booth at craft shows half-a-dozen times a year, has stayed near the top of my list for a while. No interest in selling online or for people to visit my place and buy. Sort of an excuse to get out and about and interact with folks now and again. I can also donate some to local fundraisers. I also live on 10 acres and could easily start vegetable gardening on a commercial basis. I have a 40hp tractor and lack just a couple of implements. But that's a LOT of work. Pretty sure it won't happen.

[fenders53]

Woodworking is fun. I'm no Norm Abrams, but my shop is equipped well enough to make nice things. I am a machinist, but not an artist. I enjoy building wall clocks, hall tables and end tables. Just a bit more ornate than traditional Amish or Shaker style. Those things are good enough for most any home and will outlive me.

Crimson you beat me by decades. I retired for three years at age 53 but that wasn't permanent and was never a realistic plan. I don't regret it but this past year has been lean. I don't work retail because I enjoy being abused lol.

[crimsonghost747]

(12-22-2021, 05:50 AM)cemanuel Wrote: I'll add something to this tomorrow. As of today I'm still gainfully employed. But after 4 p.m. . . .

That is amazing! 
I wish you the best of luck and I'd love to hear more in the coming weeks/months about how retirement has started out for you.

[cemanuel]

(12-22-2021, 09:11 AM)crimsonghost747 Wrote:

(12-22-2021, 05:50 AM)cemanuel Wrote: I'll add something to this tomorrow. As of today I'm still gainfully employed. But after 4 p.m. . . .

That is amazing! 
I wish you the best of luck and I'd love to hear more in the coming weeks/months about how retirement has started out for you.

Folks I've talked to say that the first week or two is nothing special - like any other vacation. It's once you get past that where you need to adjust. I'm sure it's a little different for everyone, just like everything else in life is. Should be fun.

[Scooterd]

As I mentioned yesterday to cemanuel

I'm pretty lucky - Farm maintenance keeps me outdoors and off the couch. In winter months a little less but at minimum thrice a day 4am - 7am, Noon - 2, and again 4pm - 7pm most days.

I also step in and work for a local Vet (help run labs, help out in surgeries, and front desk administration, when one of her full time staff call out sick or take a vacation. (She taught me a whole new set of skills so late in life, I love it).

I also rent myself out as a handy man for the "elderly folks" in my community. (usually charge "exact cost" of material's and a lunch or dinner).

I also still accept the occasional defense contract, but only if it peaks my interest and meets my terms.

Hobbies? I have my '46 Mercury Truck, crude carpentry, and metal work.

My better half always tells her friends she has given up on me, as I will never fully retire.

Scoot

[fenders53]

(12-22-2021, 09:44 AM)Scooterd Wrote: As I mentioned yesterday to cemanuel

I'm pretty lucky - Farm maintenance keeps me outdoors and off the couch. In winter months a little less but at minimum thrice a day 4am - 7am, Noon - 2, and again 4pm - 7pm most days.

I also step in and work for a local Vet (help run labs, surgeries, administration when one of her full time staff call out sick or take a vacation. (She taught me a whole new set of skills so late in life, I love it).

I also rent myself out as a handy man for only "elderly folks" in my community. (usually charge "exact cost" of material's and a lunch or dinner).

I also still accept the occasional Defense contract, but only if it meets my terms.

Hobbies? I have my '46 Mercury Truck, crude carpentry, and metal work (Learning to weld a proper bead!!)

My better half tells her friends I will never fully retire.

Metal work can be fun.  I'm no master welder but fixing holes in classic auto sheet metal was a good way to learn.  No harm done while you learn if you don't overheat things.  That's why they make grinders. 

[cemanuel]

OK - it's 4:00 p.m. Eastern, 1600 hours, 9:00 GMT - whatever time it is, I'M RETIRED!!!!

I'm now off to do whatever it is that retired people do. What is that?

Oh yeah - whatever the hell I want!

[ken-do-nim]

(12-22-2021, 04:05 PM)cemanuel Wrote: OK - it's 4:00 p.m. Eastern, 1600 hours, 9:00 GMT - whatever time it is, I'M RETIRED!!!!

I'm now off to do whatever it is that retired people do. What is that?

Oh yeah - whatever the hell I want!

Woohoo!!!

Enjoy.

Now it's time you learned how to play D&D

[fenders53]

(12-22-2021, 08:45 PM)ken-do-nim Wrote:

(12-22-2021, 04:05 PM)cemanuel Wrote: OK - it's 4:00 p.m. Eastern, 1600 hours, 9:00 GMT - whatever time it is, I'M RETIRED!!!!

I'm now off to do whatever it is that retired people do. What is that?

Oh yeah - whatever the hell I want!

Woohoo!!!

Enjoy.

Now it's time you learned how to play D&D

LOL, I am going to start playing some board games with my wife. The family does look forward to play at holiday gatherings.