Ask the Readers | What do you DO in retirement?
Reader Michelle sent me this question asking for your help:
My idea/request for a post is your readers' ideas for starting retirement. Hint/tips/discussions.. do this but don't do that... etc. Our financial advisor has indicated we will be absolutely fine to retire at 62, but I can't wrap my brain around not working and receiving a full paycheck every 2 weeks.
I am (ugh) 60 (although I don't feel like I look it, act it, etc.). but facts are facts, lol. I have been at my current job for 42 years and was thinking about retiring at 62.. but what does one do all day/every day when not "working."? And what about possible health care coverage ideas since I'm not 65? We don't have grandchildren (yet).. but thought I would get a part-time job close to home then, instead of my 30-minute commute every day. I'm beginning to despise driving the commute every day.
I am about 13 years behind Michelle in age (I'll be 47 in April), but also probably way behind her financially. I will be very surprised if a financial planner tells me I'll be more than 0k to retire at 62 (no matter how you slice it, divorce is a financial setback!)
So, I have zero actual retirement experience, but I'll tell you what my plans are (and then those of you that are actually retired can chuckle at my naivete.)
My work plans
I will probably work bedside nursing for a good while, and then when I tire of that, I have considered getting my master's and doing some kind of nursing education. So, I plan to be in the workforce for many years to come.
And even if I do get remarried to someone with plenty of money on hand, I think I still would want to use my education and healthy body to contribute to society in the healthcare-related workforce.
What would I do in retirement?
If I were in a place of retiring at 62 with lots of time on my hands, I don't think I would be bored!
I have lots of hobbies and interests that I could pursue with that much free time (what are all the things you say you wish you could do if you weren't at work all the time? You'd have time for those!)
I also would want to devote time to things that would help to prolong my healthspan (mobility training, exercise, good eating, proper sleep) because having lots of retirement years is more fun if your body is working to the best of its capabilities.
(And here I acknowledge that many health things are entirely out of our control. I'm just saying I'd want to do my best to maximize my chances of maintaining good health.)
Purpose and Connection
Human beings tend to feel better when they have connections with other humans. And since you lose some of that built-in interaction when you retire, I would imagine it is important to come up with other ways to see people in retirement.
Also, I know I have heard multiple experts say that humans feel better when they have a purpose or are involved in something bigger than themselves.
In that vein, since my niche is being a helper, that's probably what I would do with at least some of my free time. There are always people who need help, whether it's in an official volunteer role or a more casual help-your-neighbor type of role. I would love to use my nursing education to do some kind of volunteer work in the future.
Also, as Michelle said, there's the option of a part-time job that you do just for the love of it, or because it aligns with a purpose you care about.
Both the volunteering and the part-time job would offer a purpose and human connection, so that seems like a win-win!
And healthcare...
For healthcare coverage to get you through until Medicaid, my first thought is that I would buy a plan through the public marketplace, just like I'm doing right now. But I am for sure not an expert on this!
Alright, readers! Help Michelle out by sharing your experiences/plans with retirement.
P.S. Michelle, though you are not a part of the FIRE movement (Financial Independence, Retire Early), I wonder if some of their resources might be helpful to you. People in that movement are navigating the challenges of health insurance and also the experience of suddenly having a lot of free time on their hands, so their experiences could be educational to read about!
I am less than 11 months away from retirement - and so, so much looking forward to it :-).
I will pursue my hobbies like serious and long distance hiking in the mountains (Alpes), continuing my family history research, geocaching, some volunteer work, gardening, reading, socialising, sports, travelling to see family and close friends. We are scattered over almost all of Europe. And of course hosting those family members and friends when they are in town. Travelling for fun.
Health insurance will stay the same. I will have to pay a certain percentage of my pension to insurance. Mandatory in any case in my country (Germany), so no change there. I am covered.
I will be finely able to visit my grandchildren in Vienna on short notice. My son and daughter-in-law very much count on my help.
Oh yes, I really am looking forward to this 🙂
@Lea, Congratulations to you! My DH and I will always remember your kindness at meeting us in downtown, and having us back to your beautiful apartment for a visit and a feast of gorgeous desserts. We still talk about it!
My daughter and her family are now back in the United States, so I don't know if we'll be back to your part of Germany anytime soon, but we wish you the very, very, very best as you move into this next exciting part of your life. 🙂
@Lea,
I am going hut to hut hiking in the Italian Dolomites this September. I am very excited.
@Mary Ann,
oh how lovely! Beautiful area!
Hi! I am 78 and retired at 64 from a 33-year teaching career. Volunteering in schools was the first activity I picked up after doing a bit of substitute teaching. Then my husband and I--he retired way younger than I did--moved to a location closer to both of our kids since we finally realized they weren't coming back--and I became what we call a full-time grandma. For years I went to the bus stops, picked up from preschool...It was a joy! Now that the kids are older we help with activity drop-offs and pick-ups for the local kids. The other ones are over 3 hours away, so we visit them quite often. We hold family birthdays at our apt. and have lunch here for 8 every Sunday. As we get older, we have begun doing less. Back when my daughter went through a very contentious divorce, I was still working , so my husband helped her a great deal. After I retired but before we relocated, we drove the 1100 miles to stay with her and help her with her two kids as much as possible.
Hobbies such as reading, going to the gym 6 days a week and cooking keep me going as well. We did travel some, but lately we keep that to visiting family in several locations.
We have depended on Medicare for health expenses and since we lived quite frugally, we have enough.
Last year we hired a house cleaner who comes every two weeks, and I feel partly regal and partly guilty. But not having to do that work gives me more reading, Wordle, cooking and grandma time.
Retirement is a gift. It takes planning to save enough and do it right, but it is so enjoyable while one still has his/her health.
@Gail, You should not feel guilty for hiring a house cleaner. You are employing someone locally and that is a good way to spend your money. If everyone were frugal in every way it would wreak havoc on the economy.
@K D,
And for me, it is proper division of labor. My house cleaner can somehow finish in a couple of hours. It would take me an entire weekend to get it done and it still wouldn't be complete.
I'll take my weekend in exchange for two hours of her rate any day!
@Gail, Don’t feel guilty. Money is a tool, to make our lives easier or better as we see fit. I hate most of house cleaning, although I am great at keeping tidy and dealing with messes as they happen, and have hired housecleaners since my 20’s.
@Gail, count me in as another one who pays for housecleaning and considers it an investment in a happier life. As ms.b214 says, my cleaning team can do in an hour what would take me days, and I'd hate it every step of the way. I'll give up a LOT before I'll give up housecleaning.
@Gail,
As the proud aunt of a woman who started by cleaning houses by herself and now owns her own successful cleaning company, I say hire a cleaner! She is providing work for about 10 employees now. Her husband is practicing now to become a window-cleaner and work for her when he retires, ha.
@A. Marie, I also have a house cleaner primarily for dusting and then vacuuming and mopping after. I have a pretty bad dust allergy and trying to dust all the blinds and fans myself I would always end up with my eyes swollen and sneezing/hacking for a few days later. She comes twice a month and is a blessing.
@A. Marie, Add me to the list of those who consider their housecleaners an essential to happiness in the home. And to the economy.
@Gail, At first I felt guilty too about my cleaner who comes once a month, but I know I am helping her pay for her daughter's childcare and their food and rent. I look at it that way-- and I get the benefit of someone cleaning my baths because that is hard for me now.
@ErikaJS, read up on the 2008 Great Recession and how house cleaners took a major hit when "bonuses" did not happen and/or job loss did. I had a house cleaner one time during the school year, tough for her during the summer. It benefited both of us. But her stopping was on her terms, not due to my not being able to pay her.
@Gail, Don't feel guilty about the house cleaner. I've employed a house cleaner who comes once a month for many years now. It's such a time-saver for me since I work full-time and have lots of outside interests.
I retired at 47. Spend about 5-6 months traveling. Volunteer 3 months of the year during tax season. Throughout the year I focus on reading, exercise, attending theatre and music performances, exploring my town. Use ACA for health care - plans vary depending on county but the ones available to me are pretty good.
Sorry - one more thing. I went into retirement with an initial 3-5 year plan, understanding circumstances and interests would change as I experienced and learned new things and plans would be adjusted accordingly. From my old profession - anaylze, design, implement, evaluate, iterate. It's OK not to know what you'll be doing next year.
@Jadec, I think we forget we can think of what we will do in 1-2 year chunks, instead of having all retirement figured out immediately!!
yes yes yes, I'm here for the pivoting possibilities!
Retirement is a long, long way for me (and I hope I will actually be able to) but I doubt I'd be bored. Firstly, I'm pretty introverted and enjoy being at home. Secondly, I have various hobbies, such as reading, writing and exercising. I also enjoy seeing friends and just relaxing in general. Fortunately, I don't have to worry about health insurance as I live in a country with public healthcare!
Assuming I'm in good physical health I am looking forward to when I can retire!
@Sophie in Denmark, edited to add, I also love travelling, so hopefully I can do more of that when I retire!
First of all I would like to state that 60 is not ugh. I will be 65 this year and feel decidedly un-ugh, altho I probably do look and act my age which is completely fine! There is strength in being genuinely YOU. I am healthy and strong and plan on continuing to work full-time for at least another couple of years, at which time I will stop down to 24 hours a week leaving me with Monday through Fridays off. On those 5 days I will for sure need to find hobbies and interests to cultivate, and consider finding a smaller home as well. I would love to live close to my kids, but that's not going to be the #1 deciding factor. My #1 goal is not to be bored, so regardless of money, I will work for as long as I find it do-able. Its not all about the money, for sure.
@Gina from The Cannary Family,
thank you so much for your comment on being 60 is not ugh!!!!
That's exactly how I feel. Never in my life have I been so free and independant as I am now. A situation I truely cherish. I am in excellent health - thanks to good genes, but also thanks to my lifestyle. And I am determined to stay that way and enjoy that as long as it lasts.
@Gina from The Cannary Family, just turned 60, totally agree! I love being this age.
@Lea, exactly!
I retired at 57 after teaching for 35 years. Almost immediately, I took a part time receptionist job in a nursing/rehabilitation center and loved it. I was now working with our older population instead of the younger kids I taught. I learned a lot about assisted living/nursing/rehab, etc and all of it was helpful to me as my parents and in-laws faced decisions about their end of life care. I worked there for about 4 years when I quit to take care of them. After they all passed I started to focus more on myself. I upped my walking and exercise routines, my husband retired and we did some traveling, and we worked a lot on our home and landscaping. I kept in touch with a few close friends and saw family often. Financially we were fine because of my teaching pension and my husband’s retirement. My school district helped with health insurance until Medicare kicked in at 65. I am now 68 and my son and daughter-in-law are expecting twins in February so I am so excited to be a grandma soon! I have found that just as in life, retirement has different stages and it is constantly changing. I am never bored and am thankful every day that both my husband and I can enjoy these stages together, so far. I am always aware that things can change in a moment so we need to make the most of every day. If I could give anyone working any advice it would be to save as much as you can now, so you can have peace of mind when you are retired. Also, take care of your health so you are healthy enough to enjoy the days when you finally do not have to spend them working.
What I'd like to know is what kind of work those of us in our sixties and seventies are doing, either full or part time because, quite frankly, we do not have sufficient savings and/or cannot live on Social Security benefits, especially given the cost of medicare (A, B, drug, supplement, which is mandatory unless you have buckets of $ to pay for the 20% differential between what A/B pays and what medicare allots--not to mention the Many higher amounts that some medical providers charge that you owe after medicare is deducted). A lot has to do with where one lives, for sure. But if you've lived and worked in a major city for decades, never drove or own/ed a car, could not afford to own a residence and still rent, where it goes up and up each year, you literally can't afford to move anyway and don't have space big enough to have a r roommate. This is a lot of men and women all across the country, hardworking folks who just always had more expenses than money for things like vacations, let alone savings. Struggling to pay the bills remains a daily challenge for many folks who, despite their efforts, didn't have the opportunities that others had over the years and also had greater family responsibilities, assuming the costs of taking care of loved ones of all ages.
If you did not work in a high-paying industry for women with an exec salary, and were able to pay bills and save, for the rest of women, with or without children, typical pay, even with an education, is often light years lower even with so-called "good" jobs that don't pay you enough to save and have no pension or other type of plan to match your savings.
I know college educated women in the creative fields where income varied tremendously over the years. Many did save but then, out of work and/or sick and had to use savings. (Same applies to guys as well but using female examples as we still make less on the dollar than men even in the same jobs. Not a lot has changed if you look closely.)
I have friends who are tenured college professors. I asked both when they planned to retire (one is late 60s, one is early 70s) and they just laughed. "We can't afford to retire. We will work until we die." They have complicated situations (healthcare debt, children with health issues; children in college, paying for care of family members, etc.) for sure, and they are most definitely NOT big spenders other than their children's educations (No, the kids did not go to the colleges where they work and could get discounts.)
The folks who retired early? Friends who joined tech firms as they grew and got all kinds of $ perks, etc. Teachers with big salaries and pensions (True, not all teachers make well over $100,000 a year with pensions that are 50 to 75% of salaries!) and some folks who started their own companies then sold them for mega bucks. Oh, and a few lawyers, doctors and police execs and rank and file.
Some folks (a lot of my male friends) just have no problem with retirement. Married women whose husbands also retired report a lot of dissatisfaction when their husbands do not, literally, know what to do with themselves and expect the wives, many of whom are working, if only part time, to entertain them as it were. A close friend, in her sixties, with a husband who is 15 years older and retired for 8 years already, is driven mad almost daily. She works 12 hours or more for many days in a demanding job that she needs to pay for her daughters' education and her other children's needs because of their financial issues. He not only does not help around the house, even with minor stuff, but refuses to socialize with other guys his age. Doesn't play golf or cards; Won't volunteer (plenty of places could use his help. No, he's not depressed or ill. Just...whatever.)
It really depends how you define retirement. I know folks who do so much (volunteer, garden, help out with the grandkids and other relatives, tons of hobbies and are busy busy busy and never bored. They travel, they eat out, they socialize. That's because they have the money (no second or third morgatges; huge car payments, debt of any kind) to enjoy themselves AND, most important, good health.
You can plan all you want and still find yourself challenged by health issues and financial ones. Kristen has provided a very good outline of how to really stay connected, help and make a difference and just relax when you do retire.
Of note, not one person I know of any socio-economic group wishes to stop doing some kind of work, make some sort of contribution, be it volunteer or otherwise. They just want to have less set working schedules and demands so they can up and go when and where they want and not be tied down to having to be anywhere at a certain time if they don't feel like it. My favorite comment: "I thought I was retired," said a friend, "until I started spending huge blocks of time maintaining my health, getting needed healthcare and going to various medical tests and appointments. Between PT, and other mandatory health routines as well as specialized care, I have little to no free time!"
Unless you live in a truly rural area, there are usually lots of different activities for seniors and other retirees. You can stay busy and engaged, but it's up to you to make the effort. Some folks, and more power to them, simply want to chill with no set schedule for a day...something they haven't done in decades.
May you find what works for you and not feel guilty if it doesn't match what others think should be how you spend your time. Good health, good friends, good times to you.
@Irena, I am a retired teacher and have a small pension. Moreover, having taught mostly in a state that does not let govt. employees pay into or collect social security, I am far from wealthy! Until last month when a new bill was passed, even the spousal ss was not allowed to be collected, and the ss I paid into in other states that did let me contribute was cut by 2/3! It is not easy, but one can retire with planning.
@Gail,
I am one of those women who will have much less money than before retirement. Many reasons for this - but I saw it coming. That's why we bought the big apartment downtown and made sure to pay it off as quickly as possible. It was large and their was ample room to raise our three sons.
Last year I sold the big and posh place and downsized from 4 bedrooms to two bedrooms in a less posh area but with excellent infrastructure.
We never owned a car and that money saved went towards the mortgage.
And I/we invested in two life insurances which are both due in the next couple of months.
Now I have the most part of the money from selling the apartment invested and will be able to live quite comfortably - Kristen style! Meaning living cheerfully AND frugal.
It certainly helps that I live in the country where I live. We pay high taxes - but as a citizen of this country I do enjoy what the tax money is spent on. Like public transport, health care etc
@Irena,
You are so right. Just as the unexpected happens in daily life, it happens in retirement. I retired from my career at 50, but my husband continued to work. He made more than 5X what I did. My work was only pushing us into a higher tax bracket, so I wasn’t really making much of an impact on our financial well being. I also encountered the Boss from Hell which made my work less than fulfilling.
For years DH has worked in a high stress job with lots of travel and I have done nearly everything else to keep our lives on track. I haven’t minded this. It gave both of us more time to enjoy life. DH wanted to retire this year, but with the huge increase in the COL in our area over the last four years, he has postponed this. Also the cost of health care coverage is quite substantial. Will a few more years make a difference? IDK.
To answer your question regarding retirement work. I have bought and sold vintage and antique items for 30 years in some capacity to earn my mad money. My familial background had exposed me to art, design, and history. I still make a little money doing this, but it is not as lucrative as it once was. It seems that everyone is scouring thrift stores and garage sales for hidden treasure now. It’s much more competitive among resellers, and Google Lens along with other internet tools has made my knowledge much less important than it once was.
My sister dog sits for people in our neighborhood and earns quite a bit of extra money that way. Over the Christmas holidays, she earned $1200. I also know people that do consulting work in their field, offer home concierge/errand services, work in boutiques, teach art classes, tutor and teach senior yoga at YMCA. My neighbor across the street works as a marshall at the golf course. Of course, he doesn’t make much, but he no longer has to pay to play golf. He also met many other golfers.
@Irena,
There may be school admin that have big salaries, but my husband and I have both been in education for 20 years in one of the highest paying states, and there are no big teacher's salaries. What teaching does offer in our state is a good pension.
@Irena, I worked with a guy who related that his mother told his father he would be out of the house at least X hours a day. She had a routine for 45+ years and he wasn't going to interrupt it. His dad ended up with a PT job at a golf course.
I likely will never have grandchildren - both kiddos would be more than happy to tell Alito they don't exist to ensure the "domestic supply of children" (read: Caucasian babies). Which is fine by me. I'm like my mother - don't have kids for me. From what I read, not the mindset of a lot of mothers.
So do what makes you happy when you leave the W-2, 8-5 grind.
When my mom, a high school librarian, retired from her full time job, she started a part time job at a local public library. It supplemented my parents’ income so they could wait longer to start using their retirement money. As a dog lover, she also volunteered with a rescue group.
My dad was forced into retirement early when his company was bought out. He did volunteering with a group to teach seniors how to use computers, then got a “retirement job” as the computer guy at an elementary school for a few years. He also finished restoring one of his antique cars and wrote a few books on the topic. At 80, he is still volunteering to write the car club newsletter.
@JenR, Lots of people in their 40s think they have it all planned out...but then they get dismissed from their jobs. Ever try to find work when you are 40+? Most employers go for younger workers so they can pay them less. Also, I'm told that the insurance industry makes them pay more for employees age 40 and older. So they cut expenses by cutting employees. Why am I telling you this? Because if you are about to fall into that category, you need a Plan B for your income. (Yes, I know you can sue for age discrimination but few lawsuits successfully make it to court bc employers will trump up some kind of phony performance review that makes the older worker look bad. Happens all the time!) You could be making good money and then lose your job and not be able to get another job that pays anywhere near your old salary/rate of pay. I know an 81 y.o. cashier and a 78 y.o. waitress. Both relied upon Social Security for their retirements and the amount of their checks do not cover their rent. So make sure you have a Plan B and also cram as much cash into an IRA as you can, esp. if you employer matches your contribution amount.
@Fru-gal Lisa, Leaving politics out of the question, in practical terms it is impossible to sue for age discrimination in hiring. There are so many reasons that a company could use to defend their choices that they’d have to be dumb as rocks to get caught not hiring someone because they’re over 40.
@Fru-gal Lisa,
I write the checks (well, online) for the insurance for our employees here. My bosses pay all of the health insurance for the employee (not dependents), and I see the yearly brackets. Once someone reaches fifty, rates begin to skyrocket. As of January 1 this year with our policy, an employee who is 26 has a premium per month of about $470. An employee who is fifty is about $850 a month. If I was still using the insurance, mine would be in the $1200+ a month range, strictly due to age.
@JenR, My uncle had worked for a company in Wall Street for 30 years, and he was one year from retirement when they let him go, and without his 401K, as I understand it. He ended up retraining as a phlebotomist (he was an Army medic in Vietnam) in his 60s.
@WilliamB, I know from where you are coming and totally agree. Never mind we both know that the Founding Fathers were not thinking that way.
@JD, insurance of any sort is based on a large, and I do mean large pool of insureds. What is biting us all in the posterior is when employers "agreed" to participate in Social Security in exchange for self-insured health insurance coverage. We see how well that has played out since the late 1960s...
@Karen A., I doubt he was screwed out of his 401K. Vesting of the match takes no longer than six years. What you contribute and/or rollover to your 401K is yours, pure and simple.
What I did was start volunteer activities before I retired. It can take a little bit of time to find a niche that fits. Then when you retire, you will have a place to start. The same is true for health routines. You need to have some exercise that you enjoy so that you have a place to start off. Those things both may change after retirement but you aren't looking into the void.
The best advice I was given was that it will take months for you to catch up on sleep and for your sleep cycle to normalize. My sister who told me that suggested 3 months. My husband took 6 months. For me it was 10 months for my creative mind to return.
I personally chose to pursue volunteer activities rather than another job. My thought was if I wanted to work I might as well have stayed in the job I had that was well paying and that I liked. I also wanted to leave a job available for someone who needed one. So I went the volunteer route and now take some leadership in the volunteer activities. It is like a part time job but with more flexibility.
Energy does fade during your sixties, not as dramatically as some say but you probably won't exit the sixties with the same ambition you enter it.
I don't have the travel bug and the pandemic wouldn't allow it anyway. But if you do, travel early in your retirement because my friends in their seventies who do travel frequently report it gets harder and harder.
Good luck and enjoy the gift.
If you can wait until 65, do it. Private insurance is horribly expensive. I made that mistake and regret it.
For a few months to even a year, you'll feel like you still have to go into work. It's a glorious feeling to know you can sleep late if you want.
I garden, slowly turning my six acres into a food forest. I also design book covers for a little extra cash. Since we live on a small homestead, my days are busy from morning to night.
While you may feel lost at sea in the beginning, you'll soon figure out what you enjoy most. Grab that ring with both hands. Life goes by faster than you think.
@Maria, are you free-lancing the book cover design? If so, where do you find your customers?
@Central Calif. Artist Jana,
About 15 years ago, I used to write fiction and decided to self publish and design my own cover. The next thing I knew, all my writer friends were asking me to do their covers. I've slowed down a bit and only do covers for long-time clients now.
Kristin, when you are ready for a career transition away from bed-side care, consider looking towards the insurance field. I work at a large (non-healthcare) insurance provider. We employ a large number of retired nurses who review claims, are case managers, etc. Good pay and benefits too, I'm sure some may allow for remote work depending on the company.
@Mallory L., I'm confused! If it's "non-healthcare" insurance, why are you employing retired nurses to review claims?
@JDinNM, maybe to investigate claims of injuries.
@Central Calif. Artist Jana, "Claim denied!" Don't need a nurse for that. ;-}
@JDinNM, good question! My company sells health-adjacent/supplemental products (similar to Aflac), including short and long term disability, cancer, hospital, accidental death and dismemberment, etc. So these do have a medical component, and require trained medical personal to review through that lens of expertise. I work on the IT side of the house, so I'm not sure of all the nitty-gritty details.
Since I have 14 months until I retire, we have been saving, saving and saving so we have a big enough emergency fund - I want it at a certain dollar amount before I say bye-bye. We have plenty in our accounts for retirement (we think, some say otherwise). And when I retire, it is when I am 65 so I will be on Medicare. I don't like the options, for me personally, on the Healthcare Marketplace. I will claim my Social Security at 65 and forgo an additional $300. a month because I am taking SS before my full retirement date. Also I will not be able to work a lot because I have not reached my full retirement age. Anything over a certain dollar amount and you get dinged in taxes.
I have been doing a ton of reading on the subject. One blog I read is "The Retirement Manafesto". He retired early and has a lot of tips and tricks to help along with the mental aspect of retirement. This past December he even wrote an article about what to do in your last year before retirement. I also follow "medicaremama" on Instagram. She has a lot of advice about medicare and retirement and has a website "Medicarefamily.com"
I do plan on working part time, working on crafts and keeping my house spotless. Also gardening. That will definitely keep me busy. But I will need to volunteer at least a couple of hours a week.
@Maureen, I am watching a baby two days a week for cash. I keep looking for quirky “ for cash” jobs. I am not a GMA yet so this baby gig is the best. I will stop once the baby is one! Selling things on Facebook marketplace has been fun because I like to thrift. Maybe 5 things a month. Nothing crazy. I too will get dinged on taxes if I get a real part time job. I knew this.
I don't know much about the financial side in the US, but I can tell you how my retired relatives spend their time!
-visiting relatives, including supporting/babysitting grandchildren
-taking fitness classes, ensuring they do their physio and daily exercise, playing sports
-taking recreation classes at the community center (painting, bridge, etc.)
-attending lectures at an open university
-travel
-hosting dinners for friends, meeting friends for walks, going to museums with friends
-actually pursuing a second degree (I think my uncle is getting a history degree after a very successful career in banking; I know someone else who is serious pursuing creative writing)
-no volunteer work; I know it's popular and great, but my relatives found that the care of elderly relatives/helping with the grandkids was enough helping
Once you throw in breakfast, lunch, dinner, chores, appointments, travel time, a bit of TV before bed and reading the newspaper, the days pass. I had one relative in particular who retired at 64 and was quite nervous about how they'd spend their time, and they have blossomed in retirement. It's really nice to see 🙂
I will turn 70 later this year, and I retired the first day of the month I turned 65. My experience isn't typical, for two reasons: (1) The need to care for DH was what precipitated my retirement; and (2) I was a telecommuter for 36 years, so I didn't have to make a major transition from office to home life.
Clearly, I was busy enough till DH died (even after I placed him in the nursing home), sad though the duty was. I was also able to keep gardening (although it was a pretty weedy garden for a while), and to stay involved in JASNA as time permitted. Now I've taken on more volunteer duties for JASNA (especially the proofreading/editing), and am freer for thrifting, cooking, birdwatching, and other things I enjoy. None of these are expensive hobbies, and the urge to travel left me during the pandemic and hasn't returned. The only major travel expenses I anticipate are those connected with attending JASNA Annual General Meetings in cities that I don't need to travel to by air. (I no longer fly.)
Because of the infamous US health care/elder care system, DH's nursing home costs could have broken us. Thanks to his long-term care insurance, however, we did not take a major financial hit. The LTCI didn't cover everything, and there were plenty of other costs, both up-front and hidden. But now that the dust has settled, I'd describe myself as comfortably off, though certainly not wealthy.
The timing of my retirement meant that I could go onto Medicare, Medicare Supplement, and Part D more or less seamlessly. So the insurance question wasn't a problem for me. But I do envy those of you in European countries that manage the whole insurance/health care system better. Your taxes may be high, but at least you don't have to worry that one catastrophic illness could bankrupt you.
@A. Marie, in the UK, if you go into care, you need to pay for it. If you need carers to come into your home, you need to pay for that too. There is no insurance, as far as I’m aware, that you can take out to cover care costs. Doctors, hospitals, etc… are generally covered unless you go private which more people are having to do due to the long waiting times to be seen by a consultant / get operations.
It’s so interesting to read how different things work in different countries.
@Victoria, I know that your NHS is getting to be almost as broken as the US health care system, and I'm sorry. I suppose I was thinking about our commenters in Germany (Lea), The Netherlands (JNL), and elsewhere on the Continent.
@Victoria, your situation seems pretty similar to Canada. Public health care covers the basic (medical appointments, necessary surgeries) but we still have to pay for the rest (psychologist, eyes appointments, dentists, etc) and, yes, it's covered by our (high) taxes but the services can be, well, subpar. Very long waiting times to see specialists (if you can see one, period) - talking like 7 years to see a dermatologist, and even going private ($$) we have been waiting for a year now - and getting some surgeries. Hard to get appointments with our family doctor (if you are lucky enough to have one, which is not the case for many many people) and they push back against testing (like blood work for a specific issue), very long wait time in emergency (not unusual to wait 24h+ in my area), etc. No country has the perfect health system, unfortunately.
@Isa,
I am glad you piped in, Isa. I have many acquaintances in Canada who like to take dings at the American health care system but the truth is no large country with lots of variables and diversity really have it figured out. California alone (where I live) accommodates for a huge number of immigrants and has the economic variables of a country like Japan. I also know many Americans who are expatriates hopping to Portugal, etc. . . . . through geoarbitrage and now they are endangering the host countries health care systems.
It is a large messy problem but I am grateful for the level of care I get in America. It does take organization( booking physicals a year in advance) and I need to be my own health advocate but I am very satisfied with the level of care. The biggest tool in my toolbox is taking care of my side of the street. That currently involves a strict five week, 1400 calorie a day food plan with exercise to continuing dropping my A1C which is no longer pre-diabetic. Yeah!!!!
@Mary Ann,
Despite the cost, I am very happy with the healthcare I've received in the US. We came here from England.
@A. Marie, there is no such thing as a free lunch. What is sad is that few countries allow you to say not gonna be a burden (financial or otherwise) and/or have no quality of life. May I have the capacity to know when I should end it on my terms.
My husband and I retired at age 60. He didi go back to work part time, he is a chiropractor and truly missed his work, but not the obligations of a big practice. We now have a small home office and he works 2 half days.I have stayed retired.For the first 5 years we had to get insurance through the marketplace and that worked till Medicare kicked in.
I love being retired!! I have many hobbies and interests and am pretty healthy, age 71 now. We did NOT end up traveling as much as we thought we would,decided being on the road in an RV was not for us. So we feathered our nest, made our home as comfy as can be,cause we both like spending a lot of time here.
A typical week for me is:
Monday: At home day.Make up weekly meal plans, read my latest novel, Do some art/crafts in my home studio. Take a nap! Meditate,pray, make a nice dinner play music, watch a movie with husband. MRide my bike or work out with a video.
Tuesday:Play cards,Hand and Foot, with 3 neighbors, we take turns hosting and making a nice lunch for one another. A great fun time and I don’t even have to drive anywhere. I usually grocery shop at Trader Joe on Tuesday afternoons. That counts as a fun outing! Book club once a month also on Tuesday.
Wednesday: A couple of times a month I drive 15 min, to a big art studio where many women gather to do art/crafts together.I make collage art and watercolor and greeting cards. Great fun!
Thursday: I meet with a group of women who make rosary beads which we send to missions all over the world. We go to lunch at Panera when we are done.
Friday: Often a “date day” with husband.We do library dates, go to local art galleries, walks in Riparian park, shop at Costco, drive to local lakes for picnics,walks,etc. out to breakfast or lunch.
Saturday: Husband works half a day.I usually lean house, putter,read, do art, shop, do errands, ride my bike in neighborhood… I attend Mass at a 4:30 service on Saturday evenings.
Sunday: I usually make big pot of spaghetti gravy and grown son eats dinner with us.
All week I pursue my interests: Music, reading, sitting by-my swimming pool and waterfall with coffee and a good book, cooking,baking, reading news, sometimes I write poetry, visit with friends for lunch and breakfast dates, go to art studio with others, volunteer at local church, I also attend events sponsored by a social group I belong to, Golden Girls of East Valley.There is a big group birthday party later this month is someone’s big back yard, pot luck. (I live in Arizona we can be outdoors now!)
My husband and I do take a couple of vacation per year. This year is a cruise, a trip to Puerto Vallarta and a mountain cabin rental in summer for a week.
So— retirement is VERY full and I love it. I don’t miss “working” at all.I loved my job but I love retirement just as much!!
@Madeline, sounds like you have figured out a lovely retirement with a nice mix of socializing and time to yourself for activities you enjoy.
@Madeline, sounds lovely!
I will be turning 60 this year and feel decidedly un-ugh. State pension for people from my age cohort will not be issued until 67 years and 3 months, by the present calculation. Legislation may change it to a later date, as indeed the expectation is for younger people - they may not have their state pension until 68+ years. Small wonder FIRE is an important topic for the young.
Presently I have worked nearly 30 years for my present employer and just short of six years of work for previous employers - the early years were mainly temp work and part time jobs. So my expectation is that I will need to continue work until at least 65 years, by when I will try to smear out the personal pension I have built up (and by when we expect to have paid off our home). My personal aim is to slowly reduce the number of worked hours over the next five years, from fulltime to possibly 50%. All with the aim of ageing healthily.
In retirement I hope and expect to spend time on excercise, friends and family, music, volunteering, more time for learning new languages or skills, creative pastimes and reading. And when I am (can make it) past 75 it makes sense to expect that the overal pace of life will be significantly slower and that an increasing percentage of time will be spent on daily activities in house and garden. That is what I see around me, at least.
I'm 61 and our financial advisor said we will be fine to retire anytime now. I do not do boredom well, so like Michelle I have also been wondering what is going to keep me occupied in retirement. The financial advisor asked if I regretted not being able to spend as much time with our kids when they were small because I have always worked full time, and I do have some regrets in that regard. He asked if I would have the same regrets about not spending more time with our grandson. So at least part of my time in retirement will be spending even more time with the little man. I would also like to volunteer to tutor girls and get them interested in STEM fields. Other than those two things, I don't have any concrete plans yet.
I am also concerned about health insurance, so my current plan is cut my hours to 30 hours a week next year and work until I'm 65 and qualify for Medicare. At 30 hours a week, I'm still eligible for my employer's health insurance.
My husband retired on his 58th birthday (he will be 69 this year) so we have a little experience with this. Health insurance is through the public marketplace. It can be expensive, but we fit it into our budget.
Knowing we wouldn't have his salary any more, we arranged for twice-monthly transfers from savings into our checking account -- this was his 'paycheck.'
We travel more now -- mostly camping trips, which are very inexpensive.
We take time during the week to get out and explore local hiking trails and parks.
He volunteered with local blood drives and is now the volunteer coordinator for our local drives.
He served on the local parks board for three years.
We walk together every morning. He works on things around the house. He reads a lot. He helps neighbors. Recently, he has gotten into genealogy. He goes fishing. He has friends he hangs out with. He is never bored. (He says he doesn't know how he ever had time for a job.)
For several years, he helped take care of his aging parents. Being free to do this was a huge blessing.
I still work from home, but I am gradually reducing my schedule and am thinking of retiring next year when I turn 65.
Great topic! I will turn 60 in May and while I have no imminent plans for retirement, I am trying to learn from those who have already traveled this road. My husband is 6 years younger than I am, so I don't see myself retiring soon, as for me, the fun in retirement would involve spending more time together. The age/stage of life of your spouse/partner can significantly impact your retirement plans, and should be mentioned in this discussion.
That being said, I work on a per diem basis and have lots of flexibility with my work schedule. Along those lines, I would ask anyone who is considering retirement ... why do you want to retire? If you still enjoy your work, is there an option to reduce your hours at the same job, preferably while still receiving benefits? I have observed all sorts of versions of retirement via friends and family, and tapering off on your work hours seems to me to be a good way to gradually wrap your mind around retirement.
I would also take a very, very close look at health care as well as finances for managing long-term care. Both of my parents required assisted living in their last days, and the cost of that is no joke.
Another thing to consider would be the accessibility of your home. I am an occupational therapist and much of what I do involves addressing home accessibility. Do you have steps to enter your home and/or within your home? Is there an option for a ramp should you require it in the future? Do you have railings by the stairs? Are your living needs (bedroom, full bathroom, laundry facilities) on the same level? Do you have grab bars appropriately placed in your bathroom? How high is your toilet? On a different topic, do you have access to transportation should you no longer be able to drive (public transport, accessible bus/van service, etc.)? It is much more affordable to stay in your own home as long as possible, and is wise to consider aging-in-place options while you are still able-bodied.
I am looking forward to reading other's thoughts about retirement. Thanks for tackling this, Kristen!
@Kris, thanks for bringing up the home accessibility issue. So far, I'm hanging in there in my house of many stairs (in fact, I consider the stairs my personal gym). And one of DH's final projects was installing grab bars in the main bathroom that would support King Kong if the need arose.
But I anticipate that I may need to sell this house and move to senior housing at some point, which is why I'm trying to get a head start now on decluttering. (One former neighbor couple up the street had to downsize and sell in a big hurry after the husband fractured a vertebra and could no longer manage stairs. I'm bearing that example in mind, and of course the whole situation with my next-door neighbor is another one.)
@A. Marie,
You are very wise to be thinking ahead. Of course, over the years, we have learned on this blog that you are thoughtful and pragmatic. I have a niece who is a nurse practitioner that specializes in gerontology. She told me that the elderly often put themselves in danger by staying in their homes, because they don’t know what to do. They don’t know how to plan a move, find a new place to accommodate their needs, and dispose of their “stuff” that represents a lifetime of memories. Everything is so overwhelming. Many do not have the help of friends and family to make this transition. Any planning done now can save heartache later.
@Bee, I have noticed that my patients are fearful of addressing potential accessibility needs and often avoid dealing with it until the poop hits the oscillating device. It's not exactly a happy topic, but you hit the nail on the head by saying that planning now saves heartache later.
@A. Marie, you are a smart woman! You are very realistic about what your future needs may be. There is something to be said for continuing to stay active, including using stairs. I unfortunately see situations like your neighbor's on a frequent basis. It's harder to make great decisions regarding accessible housing when you have to do it on a tight, urgent time frame.
@A. Marie,
I left DH's ramp on our house and the grab bars in the downstairs bathroom, as well as the step-in shower, which would have been silly to tear out anyway. I plan to move downstairs as needed - the kids' two bedrooms were downstairs and ours, upstairs (up 19 steps). I have to admit, I will miss my aerie bedroom with private bathroom, looking out at the treetops and surrounded by things I love.
There was once a story in the news that said volunteers are in better health than those who stay home or stay inactive during retirement. Some kind of medical story was done and participants who volunteered checked out to be years, sometimes decades, younger than the control group of senior citizens who did not volunteer. Scientists looked at
all kinds of volunteer work. So sitting around the house 7 days a week may be hazardous to your health. Do something (volunteering, taking a class, working part time that makes you use your brain and mingle with others. Personally, I substitute teach to get out of the house and socialize with others; it's not a volunteer job bc I get paid for it but it hits all of the other requirements. In summers, I participate in crafts classes, book clubs and Bible studies.
Hello! I am 53 and not independently wealthy. My husband,age 60, and I are both newly retired teachers. I taught for 30 years. He taught for 39. We get a pension once month that is 50 percent ( a little less after taxes) of our previous income. We could no longer teach children after the pandemic. It was life draining. So we prepared for this. Paid down all debt and cars from 2022-2024. We have investments but they are not over the top. We hope to not tap into those until age 65.
I have only been retired since June so I am not bored yet. We have to be savvy and extra frugal right now. We live in an area with lots of free entertainment. We like the downtown cathedral cultural series and our renown art museum is free to locals. We also like HS sporting events which are entertaining and inexpensive. Our library has wonderful options too. Once a month they have a lecture series for adults.
My husband refs football basketball and track to supplement our income and I have been watching a sweet baby two days a week. ( FOR CASH!)
I walk a lot more and read a lot more. I also cook from scratch a lot more now too. Retiring was actually very stressful initially but we just decided to go for it and remain open to future part time opportunities.
Our children are 28 and 24. One is married and out of our home. One is working and living with us due to very high rent in our area. Both are finished with college. We pay the younger ones health deductible to help out because he has kidney disease. ( currently stable!)
As for insurance, you will not qualify for Medicare until age 65 unless you apply/are approved for SSDI (due to a disability making you unable to work) prior to that age. Before age 65, you can see if you can keep your employer-funded health insurance, see if you qualify for Medicaid (state-funded insurance base on income), or see if you qualify for a different state-funded insurance. I have also heard of retired people taking classes at their local community college in order to qualify for college-funded insurance plans, which are typically quite affordable.
As a side note, when you do qualify for Medicare be sure to utilize a Medicare counselor that does not make money off of enrolling you in a Medicare plan. In my state (New York), this program is called HIICAP. Also be sure to ask this person if you qualify for any other state-funded Medicare assistance programs (or look into it yourself!). In my state, these programs are called Medicare Extra Help, EPIC, and Medicare Savings Program. Health care is so costly for older adults!
@Corrine,
Wonderful advice!
I am now 57 and I retired at the age of 50. My husband retired a year or so after I did. Our financial advisor told us we were safe to do so, but it still felt risky at first. It was harder than I anticipated to go from saving to spending.
Now, several years in, I am so glad we retired and I do not miss work at all. I volunteer and I've been much more free to help family members when they have had health issues. I'm focusing on things that are good for my physical and mental health - I play pickleball, do yoga, and recently started weight training. I have more time to cook from scratch, which I enjoy. I started playing mahjong last year. We have more time to travel.
We moved to Florida, and many of our friends are older than we are an also retired. I think early retirement might have been harder if we stayed in our old neighborhood in Ohio, where most of our friends are still working.
We use the marketplace for health insurance. The cost is higher than we'd like, but it's doable.
@Katie K, You wrote: "It was harder than I anticipated to go from saving to spending."
That is a real challenge! No matter how much I review the money for my husband, he frets about spending on necessities we can easily afford.
@Heidi Louise and @Katie K, you're both absolutely right. This year is the first year I've started withdrawing from my retirement accounts (I've been able to put it off this long because I was getting by on my SS plus the last few payments on a mortgage DH was privately holding for friends). And no matter how often I tell myself (and my trusted financial advisor tells me) that I can readily afford this, it still feels like tearing skin off myself.
@Katie K, "It was harder than I anticipated to go from saving to spending" - that is so, so true! I worry every time we have had to dip into our savings because, now that we are both retired, we will never be able to replenish those savings. Fortunately, here in Ireland we both have medical cards (means-tested) which means that we don't have to pay to visit our doctor, and only pay a nominal amount for prescribed medication. The community occupational therapist arranged for free grab rails, a second hand rail up the stairs and raised toilet seats for my husband too. My husband had a fall on 1st October, and has to have his wound dressed twice-weekly in our local health centre plus monthly visits to the hospital's trauma unit - all free too.
@Joan from Dublin,
From the UK as well. A gentle reminder that the care and so on is not free. It is paid for by taxes, and so does not require payment when you receive the service.
Current tax rates in Ireland appear to be 20% on up to 53,000 Euros, and all income above that at 40% for a married couple with one income (and 20% on up to 44,000 Euros, and 40% on all income above that for a single person).
I'm not saying one way or another is better or worse. I just feel that it's important to understand the systems clearly.
I turned 65 last year, but retired from my mid-level administrative job at a university when I was 59. I had enough years on the job to qualify for my full pension.
My husband retired the same year I did, but he was 65. He worked as an accounts payable administrator for a local company.
We have always lived beneath our means. When I received a promotion at work, we saved the entire increase and put it towards retirement. Any bonuses or windfalls were mostly saved.
Love the Tightwad Gazette and Kristen’s blog! But we have always been frugal. All those frugal habits, compounded over time, enabled us to retire a little early.
BUT we also enjoy our lives! We travel instead of having expensive cars, a big house, or the latest electronic toy. We enjoy working in our 3-acre yard (big space, small house), reading, writing (husband), working out more frequently, walking and hiking, cooking and baking, visiting with family and friends and being able to do things for them because we have the time.
The first year was mostly about getting used to NOT WORKING SO MUCH. But we loved it! And we still do.
It’s funny-and sad-how much Americans define themselves by their work. For some people, it’s their whole identity. When we meet people, the first question is always “What do you do?” I’d like to get away from that.
In a nutshell: we LOVE retirement! I’m glad we were able to do it early.
I am (fingers crossed) about 20 years from retirement. I am a part of the FIRE movement, so I plan to be 45 when I “retire”. But, retire doesn’t mean beaches and couches to me 🙂 I will volunteer more, maybe teach yoga more, maybe write a book, maybe go back to school for a masters or PhD in history. (This timeline subject to change: I work for a university now, so if our future kids want to go to that university, it would behoove me to work a bit longer so they get discounted tuition.) But, frugal habits now means that I will have so much flexibility in the future!
I would double check with your advisor if your retirement goal amount accounts for public insurance vs the amount you pay with your current employer, but yes, you can buy health insurance on the public market through the Affordable Care Act. The Frugalwoods has a great post about navigating the process in their state!
ettings.
* I became certified in GIA diamonds. I wanted to become an appraiser. With the advent of lab grown diamonds, I no longer will work in that field because the barrier to entry is too great and risky.k a few courses in survival medical preparedness.
* I listen to the audiobook Get Things Done and identified the major projects I wanted to work on.
* I lived on what my retirement income would be.
Six month* I did a few major adventure travels ( is hiking the Inca trail) and tooWow! I actually have expertise on this topic!:
I retired six months ago after 35 years of teaching which was not just a job but a vocation. I am so grateful that my job allowed me to pay the bills and be of critical service. It was however always emotionally charged and I had to practice excellent self care to maintain my enthusiasm and spirit.
Three - Five years before I retired I started looking at possibilities for my "fourth quarter" that replaced so many critical aspects of my job. My biggest fear in retirement was not that I would be bored but that my world would become so small that I ( and my opinions) would become very large and important. I want to remain the right size. So, I knew I needed a structured retirement that provided the following:
1. Service work
2. Creative outlets
3. Physical fitness/ health focus
4. intellectual challenges
5. Healthy relationships
6. Free from financial insecurity
I tested out future fourth quarter games plans while still working:
* I studied creative writing (MFA). I have the option now of teaching others to write or write myself in many different ss into Retirement:
I wake up everyday and think I have won the lottery. I LOVE IT!!
These are the selected projects I work on every week with Summative Asessments due August 2025 ( once a teacher . . . )
1. Chess lessons through chess.com daily- enter a physical tournament
2. Babbel Spanish - test as B2 ( intermediate fluency)
3. Four of the Seven continents - Antartica in February
4. 40% of the National parks - this summer Florida and Washington
5. Complete backpacking the Tahoe Rim Trail
6. Sponsor newly sober women in the AA 12 steps.
7. Created a Pre K Active Music programs and test it out on the many littles in my family for free which teaching Reading, Writing, Singing and Playing music in a developmentally appropriate setting.
I know this is much more structured than most but that is my personality. Take what you will and leave the rest. The 4th quarter of any game is the most exciting. I am in it to win it.
@Mary Ann,
The first part of this post was cut off: It talked about three year before I retired I tested out some 4th quarter jobs Like getting my MFS in creative to teach writing in multiple settings. . . sorry.
@Mary Ann, "I want to remain the right size" - I'd never thought of it so precisely, but you're exactly right and you stated it brilliantly, thank you!
I recommend that Michelle read the best retirement primer I've ever come across - 'The Joy of Not Working' by Ernie Zelinski. Most books focus on the financial aspects of retirement, and this is the only one I've ever located that focuses on what to actually do with your life once you get there. He has a wonderful exercise he asks readers to do, which focuses on things you used to do and would like to do again, things you already do that you want to spend even more time doing, and things you don't yet do but want to.
Plus he's funny along the way, LOL.
I love Madeline's daily outline of her retired life above, so I'll do same here.
An average week in retirement here in coastal S California:
Monday- Two Mondays a month I volunteer at a library, one Monday a month I kayak with a girlfriend, the remaining Monday she and I hike a coastal canyon, followed by lunch. Once home from above I clean up, make iced coffee, and generally read outside until dinner prep time.
Tuesday- My DH and I play Bridge at a local club, followed by a shared lunch (generally a burrito from one of our many fantastic Mexican eateries, then do a five or six mile walk at the ocean. Home is then a rush to clean up and get to my guitar lesson/DH's piano lesson, before returning home to prepare dinner.
Wednesday- I hike with a local club, which is generally a full day affair.
Thursday- My 'personal' day. I go to the gym to do cardio and lift weights, return home to clean up, then set out for a day of grocery and general shopping, usually treating myself to iced coffee midday. I stop by the library to peruse the Used Bookstore, where I prefer to pay $1 for a book (revenue goes to library, a cause I support) so that I can take my team reading it, donating it back afterward. Or I'll stop by our Senior Centers free library, depending on where my errands take me closest.
In the late afternoon, DH and I take a shared golfing lesson at a nearby course where we are members for a surprisingly modest price.
Friday- DH and I do a long mileage hike or bike ride, which always includes a lunch stop somewhere. After we almost always have a Happy Hour date to clean up and head out for, either with friends, or on our own.
Saturday- I have a regular group that walks the beach in the early AM. We always have something fun planned for Saturday nights, so in between my walk and cleaning up for evening event I'll usually do some light yard or house work.
Sunday - Repeat of Saturday, minus the yard or house work.
The events that fill our weekends vary from Happy Hours to several social groups we belong to (bridge club, Wine club, golfing club, hiking club, OLLI, book club, movie club) outings with friends, local community theater, local music, evenings at the beach, brewery visits with our elder daughter and her partner, picnic dinners at the harbor.
That events that fill our evenings range from local lectures (you'll be shocked at how many of these occur, generally, once you start paying attention), to book discussions, sunset viewings (hey, they're free and they occur nightly for most of us 🙂 ), games, and one hour of TV (that's all we allow ourselves - no one at the end of life likely wishes they'd spent more time watching it, right?)
Plus we travel as often as we care to. We traveled like crazy our first ten years in retirement, but I love where we now live (a mile from the ocean) so very much, I'm not quite as travel-centric as I used to be. To my surprise.
I'll end with how I started - get the book, which will help you get started creating your own dynamic retirement tailored to you and your passions and interests. There is no reason whatsoever to be bored in retirement unless you choose to be bored.
@Tamara R, That is a great book as is his follow-up, How to Retire Happy, Wild and Free!
@Tamara R, I read the Zelinski book too, and it's a good one.
One tip I was given (btw - also hoping to retire in about 2 years at 62!) was to not plan too much the first year. Things will come up - you'll realize you can go to that ladies Bible class or book club meeting that has always been during the day; a good friend will suggest a regular meal together; you'll experience how many day trips you would like to have; how often you want to exercise The person said it's pretty amazing how quickly the time fills up.
Then after a year, evaluate and put some plans in place.
A friend of mine actually slept a lot the first month. She said she had no idea how worn out she was until she got to stop being in the workforce.
Healthcare is tricky! I worked 14 years at a university in my state before my corporate gig the last 26 years. Having been in the teachers retirement system before allows me to pick up gap insurance at a great price. So check into advantages like that can may be hanging our in your past.
Hope this helps!
So, I am many, many years from retirement (I’m in my 30’s) but my mom is a stay at home mom who didn’t really go back to work full time after we were grown up. So over the years she’s helped to take care of an elderly friend, volunteers at her church, and helps a significant amount with her grandchildren. I hope to do similar things when I’m her age/retired, because it has been a huge gift to me to have her help with my children (particularly right after they were born).
I'm friends with a woman turning 89 this year, and she's been saying ever since she's retired that she is so busy, she doesn't know how she ever had time to work! I've heard several retired people say that, in fact.
I'm counting down months to retirement - for me it is the end of February in 2026, when I turn 70. I will get the largest amount I can get out of social security by waiting that late and I'm contributing to my retirement account until I retire.
Like A. Marie's situation, there were a lot of costs, hidden and otherwise, associated with DH's decline. It took a big bite out of our finances.
I use Medicare with a supplemental plan. Medicare has increased by about a third since I started. My supplemental plan has gone up 17% since I started it. Private insurance is even more expensive, and the healthcare marketplace can be too. I think I would wait until 65 to retire, unless you can find a good plan you can afford. Some people do.
My goal is currently to have all debt gone by the time I retire. Before DH's health failed, we were debt-free. I am ready to learn knitting (I have needles, yarn and instructions + video all ready to go), I bought a good sewing machine and am working on my sewing, which I had not had time to do in a long time, I may get back into embroidery and art, I plan to read and garden more, and I am starting some sporadic volunteer work with my church that I hope to expand upon retirement. I will do some projects on the house, hopefully. I want to have more time to spend with grandkids. I want to start again doing those frugal things that take more time, things I haven't had time to do in a good while. I hope to travel a little. I like to write, so I will start looking at opportunities for that. I started last year by volunteering to write one day of the 40 Lenten devotionals that our church prints out for the congregation.
I had not expected to retire alone, although I knew with DH's brittle diabetes, there was that chance. It has changed some of my plans, but some things I had always planned to do, alone or otherwise. I have to caution those looking to retirement - what would you do if you are married and your spouse dies, goes into very poor health, or divorces you? If you are single and your own health declines, or even if you are married and your health declines? It's something few of us want to contemplate, but it can happen.
@JD, your last paragraph, of course, is top-notch advice. For his surprise 40th birthday party, one of the gifts DH got was a sign reading "S**t Happens." I wish now that we'd saved it.
@A. Marie,
It sure does happen! Amen and amen!
@JD, I appreciate you mentioning that good health is not a given. Our bodies are continually aging and we don't know what's around the corner.
@Kristen, in your paragraph under Health Care, you meant to say "Medicare," not Medicaid.
@Michelle, for health care before age 65, your options are pretty much something through the ACA Marketplace (when can be expensive at our age and/or without subsidies), some sort of private insurance, or one of the "sharing plans," which are not insurance and require a mindset change. (You are considered self pay and must pay up front, but are usually able to negotiate self pay discounts. Then you submit the bill to your sharing plan for reimbursement.
As for getting a part-time job in retirement, educate yourself on the income limits between retirement and your Social Security Full Retirement Age (FRA). My FRA is 66 years, 10 months. Until you reach your FRA, you are limited in what you can earn before they start reducing your Social Security Income. 2025 limit is $23,400.
i have been retired for ten years. i retired at 60 from one job in one company. fortunately, i am blessed to have young children. when they were small i took them to school and picked them up. i attended pta and went to the library for books. before the pandemiic my local library (4 blocks away) had mahjong every wednesday. i loved it. it was so much fun. i often would see my kid's teachers returning from lunch. or even my kids returning to school from the park/playground located a half block from the school.
i read a lot of books. clean my apt. try to declutter. do a ton of laundry. we don't have cable but i love hallmark streaming, netflix, disney, and hulu. just treated myslef to hallmark because i love when calls the heart. this weekend i watched 3 halllmark movies with some cast members from the show. it was anita heaven.
3 years ago we got a pup for my son's 11th birthday. i met so many dog people in my apt complex. two of them were at my son's bar mitzvah. i helped both my son and daughter with their bar and bar mitzvah training.
i am the sole survivor of my family of origin having entered the world minus two grandfathers. and having no cousins or siblings. but i love my life and my family and am thrilled to be reitred. when i was working i had a second job to cover humongous dental bills. and i volunteered at a hospice. i also went folkdancing. folkdancing is too har to get to now and the hospice closed. but the nurse i met while volunteering there for ten years came to my wedding, zoe's baby naming, noah's bris and also their bat and bar mitzvahs. she is the only one of my friends to do so. hubby has one friend who had been to all the events as well. hubby is the one who coined the phrase anita heaven.
I will be 65 in May. I used to be a middle school math teacher and 'retired' from that at age 49 when our youngest daughter was born. I spent every minute I could with her, knowing that she really was the last baby!
For the past 6 years I have worked part-time as our church's administrator and will be fully retiring when I turn 65. I had always planned to work until I was 70, but my chronic health issues are prompting me to retire now and spend my ~4 'good' hours each day doing things I love instead of working (which I just enjoy but don't love.)
I am looking forward to reading and toting our daughter around! I'm on the Board for a local non-profit theater company and our local no-kill animal shelter. I will have more time to devote to those organizations--which fall into the I love doing this category.
I will draw SS early and I have a moderate pension from my teaching days. My husband is just 51 and has great insurance through his work, so I will continue on that, as well as signing up for Medicare as required later this year.
I, too, have a housekeeper that comes in (mine comes once a month) and am sure that what she and her husband can do in less than 2 hours would take me more than a week to do. We work on maintaining between her visits.
We have a dog and 5(!) indoor cats and an outdoor shed kitty. I love being with my pets and look forward to more energy and time for dog walks and playing with my cats. I can't imagine that there will be a boring day ahead.
I look forward to reading others' plans!
You'll be surprised at how busy you can get, and wonder when you had time for a job. One piece of advice I heard that seemed quite good was "don't retire from something, retire to something". Explore hobbies that you would like to spend more time with. Myself, I was a stay-at-home mom, so my experience is a little different as the household tasks haven't gone away. I have been able to become much more involved in my church, daytime exercise classes are great for health and community. Retire when it makes sense financially and physically, while you are still able to do the things you want to do.
People asked me what I was going to do with "all that spare time" when I retired. The answer - "Everything I had to give up or put off for forty years!" I had LISTS. I had LISTS of lists. I didn't know how I ever had time to work full time!
I have lunch with friends. I've taken up painting watercolors. I travel - nothing terribly exciting or exotic, but I can go when I want (don't have to worry about days off). I ride my bicycle. I joined a yarn crafters group. I go to the gym. I try new recipes. I took a welding class. I've restarted my vegetable garden. I learned to snowshoe. I joined a couple of MeetUp groups. I go boating. I visit state and national parks. I take hikes. I read. I watch old movies. I do crossword puzzles. I do jigsaw puzzles. I call my sister.
You have to let your imagination run free a bit. I'd actually FORGOTTEN some of the things I used to do but had to give up while I was working full time and raising children. Those things that were set aside "temporarily" for so long finally fell completely off the radar. You have to think back and try to recall the things you enjoyed when you were 10, 15, 20, or 30, and figure out how to do this things again, or find similar activities.
I like to read, but my doctor wants at least 30mins of good movement. I joined the Y for free with my insurance, and I found I love it! I take two aerobic water classes, a seated class with weights, and a balance class. I've enjoyed the interaction with other ladies! I also got a 3 wheeled bike and ride when I'm able. I started a trivia group, and we meet once a week for dinner and a lot of fun!
My daughter, her husband and 2 kids live right down the street, and we all meet up every night to watch the wheel and play Jeopardy. We're still planning trips once in a while. Trying to get healthy and cut some doctor visits, as we both have issues. I think trying to stay busy is the key. And I have the bestest neighbor , we help each other as we can. Actually, our whole neighborhood is awesome! Anybody needs help knows to reach out to my husband. He loves to fix things!
For this question, I will come out of the dark a bit.
I had all sort of plans for retirement. I was going to put my feet up and do nothing in particular for a year or till I got bored, then 1, help poor people learn to cook nutritious food cheaply, which can be done if you know what you’re doing, but if you’re poor you probably don’t have the latitude for mistakes; 2, help people transitioning to the business world by helping them describe their experiences and skills in terms that businesspeople understand; and/or 3, work in politics or as election worker. And travel of course, picking up old hobbies, learning new things, trying new athletic endeavors
These are still my plans but they sure ain’t happening now. The timing of my retirement was driven by the need to support my nearest and dearest, some of whom need caregiving. The move/unpacking/arranging and a family member’s illness pretty much consumed the first year, although I did some traveling as well. Now I’m still working on home-and-home-related items such as organizing the old house paper for my buyers and my new house papers for myself, and the caregiving requirements are increasing faster than expected.
As a result I spend about half my time “working” and half my time “retiring”. I also find that my mental exhaustion is more pervasive than I realized, something with which I’m still trying to come to terms. I’m not used to sitting on the couch without the mental energy to pick up my knitting, or being indecisive about what athletic classes to take. I don’t mind giving myself the mental space but I am worried that this becomes ingrained habit.
@WilliamB, give yourself some grace. Caregiving requires a huge amount of mental energy.
@Jenn, amen!
Speaking from retirement after self-employment, my first research would be on health care plans, because that will be one of the largest expenses before Medicare kicks in. Most employer health plans will allow 12 months of continued coverage under their plan (at your full expense, without the employer-paid portion), so you should start there to determine what those costs would be. You'll want to compare them to what's available to you on the open market, as well. At 62, with no pre-existing conditions, my monthly premium was $450, so obviously I waited until I was 66 to retire completely.
Otherwise, the world is wide open for you. What has been most gratifying for me, personally, is having the time to give back to my community through volunteer work. There are actually travel programs where you can do this as well -- I have friends who took a tour of Cuba, visiting a ballet school, an artist cooperative, an elementary school, etc., with part of the cost of the tour contributing financially to each organization.
You and your spouse should also plan chores and duties around the house, who always does what now, while you're both working, and what you would like to happen after your 9 to 5 commitments end. This made me laugh, because I'm reminded of the long line at Costco waiting for the roasted chickens at 3:oo in the afternoon -- Who's going to wait in line?
Finally, really think about how you can continue to learn and grow in retirement. The healthiest old folks I know are the ones who are active in the community or in their churches, who follow hobbies, who are friends of the local library or symphony or civic theater. You don't want to be the old coot with a bad knee who stays home all day and yells at the television.
@Jean, your last line--"You don’t want to be the old coot with a bad knee who stays home all day and yells at the television"--made me LOL. Goodness knows, I'm an old coot with a bad knee, but I certainly don't stay home all day and yell at the TV I haven't got. 😀
I am technically 11 years away from retirement (at 55). I would not get full pension, but enough to live well when combined with DH salary/pension (he is 4.5 years younger than me, so for him retirement is 16 years away). I don't see myself not working at all, that said. I work in healthcare, so I could still pick up shifts here and there (like once a week maybe), or I'm thinking of becoming a pharmacy assistant and work part-time in a community pharmacy (not hospital. I want low stress). That would be easier than my current job. I would probably do this at least until I'm 60. Then hubby would retire, we would sell the big house and buy our small dream house/4 seasons cottage. After, who knows? We are both introverts and we have low-key hobbies (boards games, reading, kayak, walks in forest, etc). We really enjoy each other's company, so I don't see myself becoming super social and being part of social clubs or whatever. Another factor is where our girls will be (they are now 13 and 15). If they have kids I would like to be an involved grandma, and help out (if they want me to).
All of it is contingent on everything staying the same as now, a.k.a both of us being employed at the same jobs for the rest of our careers, both healthy (both alive!), no big expenses for us or the kids, etc. We are frugal for this reason: to save for retirement. The house has been paid for 5 years now, so all extra goes to the retirement fund.
If you aren't ready to retire...don't! It's great you have that option but if you aren't feeling it..
What about part time to ease into it?
Hobbies..knitting those Christmas gifts, writing that novel. Fun classes to learn those hobbies. Park districts are full of those.
Travel. Start small. Or go big. Africa was a 50+ yr dream that came true and now I am insatiable
You will do OK:)
I am almost 67 years old and have been thinking about retirement for a few years. However, since I am undecided, and not really sure what I will do with my time, I am still working. I figure if I am undecided, then it is not time. Luckily, I am able to work from home and my job is not stressful, so I am still chugging along.
Good discussion! My husband and I are not retired, but I recall an important issue when my parents retired: my dad had worked full time, and my mom was a SAHM & volunteered quite a bit. She also did basically all of the housework and cooking. This arrangement worked well for many years- then when retirement came for my dad, I recall it was an adjustment!! Not only did they have to find a new normal (mom wasn't used to dad being around the house so much) but all the housework and cooking responsibilities didn't suddenly disappear for her with "their retirement". Pretty sure they had some discussions about redistribution of domestic labor around that time, lol. Something to keep in mind, especially if one partner retires before the other, or one partner typically carries more of the domestic work load. Might need to have some important discussions!
@PD, Great contribution to the discussion. A few years ago I read Fair Play by Eve Rodsky. I think it could be valuable in tackling the domestic labor issues you mentioned. I suspect DH and I will be dealing with that in a few years.
@K D, I've heard of that book before; thanks for the reminder. Just put it on hold at our library. Probably the kind of topic that needs to be continually revisited during different seasons of life!
@PD, this is true. My DH is not retired, but has worked at home on and off for years. When he out of town on a project, my days have a different rhythm to them. Not better. Not worse. Just different. I’m sure retirement, when it comes, will be yet another adjustment.
@Bee, My dad was in the service and had more than one long-term assignment away from home. My mom used to say when he left she had to get used to sleeping alone and when he came home she had to get used to sharing the bed.
I am 60 and navigating our upcoming retirement, though it looks a little different from folks who have a 'regular' job. We have been airbnb hosts for the last several years, and also did some house flipping. We have decided to stop all of those jobs and just focus on enjoying our free time. Our retirement allows us to volunteer...a lot! It helps us stay connected to our community and meet like minded people. Our volunteer work also gives us purpose. We are super fortunate because my husband is retired from a career in the military so we have access to excellent healthcare at a very affordable price. That's really what allowed us to retire from working for others and work just for ourselves for the last decade.
When my grandmother retired she 1st started a consignment / thrift shop in her church basement which due to the economy really took off. Also if families were in need they could Shop after hours in private for their families. She made it so fun for those kids, she would put out cheese and crackers and juices, they would try on an model the clothes..A few friends helped out with alterations..Once that was established she became an elderly ombudsman for the Commonwealth of Massachusetts. She would meet with families (she got a stipend for gas and stayed local) to determine their wants, skills and abilities and matched them with civic groups. Think story time reading at the library, assisting kids in researching and finding good books...another group volunteered with several scout troops and boys and girls clubs and assisted with from teaching cool classes to assisting with computer skills, to helping kids read..It gave these men and women so much satisfaction and fun..to teach kids how to make a spread sheet and build budgets..Financial education and how to dress and act for jobs and writing college applications. It's endless..find your passions and share..it's contagious
@Marlene,
Your grandmother sounds like someone I would have loved to meet.
I never heard of the FIRE movement until I retired early, but it turns out that’s what I did. I had zero debt at a youngish age.
We are both retired (with 3 kids in college - yikes). The main issue is health insurance. My husband is working in a part time job that provides it, and he is having fun doing something new.
I’ve done some part time work, when something interesting appears. I also have a volunteer gig, two book clubs, a walking group, a garden, etc. Retirement has given me the opportunity to double down on some of the frugal activities that I had no time for when the kids were younger and I was working full time. I cook a lot more from scratch and have more time to repair things and thrift.
I retired two years ago in November. Spent the first year thoroughly cleaning the house and yard and decluttering every drawer, closet, cupboard, cabinet and shelf in the house. It took four runs through the garage, which doubles as my husband's wood shop, to get it cleaned and organized. Also used the time to improve my health, spending about nine months in physical therapy for my arthritic parts and eight months in "head" therapy for longstanding issues with anxiety and depression. I joined two book clubs and have time now for lunches with my friends from college -- we have known each other for 42 years.
Health insurance was not a concern as my husband is still working, at least for a few more weeks. We're both old enough to use Medicare and have been working that process out.
Michelle, this is a great question with interesting, wide-ranging responses.
I am 65 ½ and retired when I was 60 after a 40-year career within the same organization. My husband is 68 ½ and continues to work part-time because he loves it. We also used a financial advisor to map out our financial future (including his wise advice to take Social Security early). I am very fortunate to have a pension and a retiree medical advantage plan through my former employer. We live "beneath our means and within our seams."
I approach retirement the same way I approach everything: with a positive mindset to make it the best that it can be. My advice is to identify what gives you joy and purpose and then determine how to center your new life around those things. This will be an ongoing process and doesn't have to be done right away. Keep your "shoulds" to a minimum! (Check out usatoday.com/story/money/2015/02/03/refire-dont-retire-blanchard/22159407/ for a cool way of looking at the future.) Although I (mostly) enjoyed my career, I absolutely love being retired and am very grateful that I've made it this far in age. It is a true gift that not everyone gets to receive, so I make sure I make the most of it. That doesn't mean I overfill my days, but I do emphasize simple pleasures, physical and mental activities, healthy meals, relationships, service to others, and hearth and home.
We don't have children of our own, and my parents and in-laws died before I retired so we don't have those caregiving responsibilities. Some of our siblings are in poor health, and I expect that the flow of my days will change based on their needs. For now, every morning starts out with the crossword puzzle, Sudoku, and the New York Times Spelling Bee. Followed by a big breakfast, stretching/toning exercises, frugal blogs (this one and The Non-Consumer Advocate), and fact-filled news. Followed by a long walk with the dog (the first of two), during which I pick up trash and talk with those who cross our path. In addition to regular life and family obligations, the rest of my day may include volunteering (reading tutor is my primary gig), meeting up with friends, reading (a must), making delicious, simple meals, attending (in-person or remote) interesting events sponsored by the library, community, etc. and participating in my Buy Nothing group. Every week my sister and I have an outing (we call it Adventure Club); it may just be lunch at a new or beloved restaurant, a free activity, or something that costs a little bit of money or means a bit of regional travel.
A lot of advice focuses on what to do in retirement, but I think it's also important to decide what you won't do. For example, I won't make an appointment to be anywhere before 10:00 if I can help it!
@MB in MN, *never make an appointment before 10:00am*
I avoid early mornings and rush hour gridlock as much as possible at this stage of my life. Being able to enjoy a cup coffee while listening to the birds sing is the ultimate luxury after years of enduring the early morning mayhem that comes with office work.
@MB in MN, your current life sounds a lot like mine, minus the dog. Long may we both wave.
Well. We've been retired since 2018. Music has always been my love. I sang in an oldies band for a few years, in nursing homes, senior living, churches. That was SO rewarding. Then covid hit both of us, and those venues also shut down any live music. Now I teach a weekly Bible study, and help my husband with his hobby of doing lights and sound for local bands. That's great fun! We're usually the most "senior" people in the room, but it's keeping us young. My husband volunteers several days a week for the food pantry through our church (I might say here that a large percentage of the volunteers are not from the church, so there's an opportunity). This pantry serves 300+ families a week, and is second in size only to the main food bank in this area. There's a LOT to do.
I have been retired 6 years from Alaska . We moved to Texas to live.
I volunteer at a pet shelter. I joined a quilt guild . I exercise at a gym 4 times a week doing spin class and weightlifting .
I take free craft making classes at the library. I play bingo at the senior center.
I usually have plans every day. We also go on two vacations a year.
Every day is full.
I've been a SAHW/mom & now grandma for 32 yrs. My husband is 62, I'm 58 & he's set to retire maybe next yr? He's recovering from a quadruple bypass at the moment so we're getting a taste of what retirement might be like with him home all the time.
I've had no problems staying busy. I enjoy maintaining my house & gardens. that along with my other hobbies is plenty to keep me occupied. But the perk of so much free time is that I am available. I've cared for family members & a grandchild. I've helped friends through illnesses...cleaning house for them, cooking, ect. I've been able to sit with friends & be with them when they grieve. Any time I've considered going back to work...something has happened in my life or a friend or family member that has given me a way to be the helper....and I LOVE that! At the moment, as I said, I'm helping my husband recover but I'm also watching my 7 yr old grandson around 20 hrs a week.
So being a helper takes up enough time that the rest of my free time is appreciated. I hike, garden, read, do crafts & take naps whenever I feel like it. I cook, listen to podcasts, play with the dog, have long conversations with elderly friends on the phone as I putter around the house.
But there are so many volunteer activities that you can do as well. This world needs more helpers & I think retirees who choose to live a healthy lifestyle are the cream of the crop when hard things happen. Just look around you. There will always be someone you can help.
Husband and I were flung into retirement a few years before we were ready when our employer abruptly closed. He is better than I am at making weekly routines (something that shows up in many of the comments above). I am most comfortable when I have something big to look forward to.
The best stories of life-in-older-age I know are the "Mrs. Polifax" novels by Dorothy Gilman. She was a homemaker, widowed, children far away, dutifully doing volunteer work she hated, and depressed. When asked what she wanted to do when she was young, she said be a spy, and that is what she did. Great fun!
My father regretfully retired at 64 when it was clear computers were moving into his field, requiring skills he didn't have or choose to develop. He was a civil engineer, worked with county highways and transportation. He ran for state legislature and served for over twenty years, using his specialty knowledge, (seriously, how many legislators are engineers?), and in many respects started a new life for himself, using his unique abilities.
@Heidi Louise,
Mrs. Polifax is my hero! I have enjoyed all of the books in this series. I believe that you recommended them in one of your posting.
@Bee, I appreciate her comments on life, aging, and the like. Glad you also enjoy her!
Hi, Michelle (and Kristen)
I retired from 28 years as a child abuse prosecutor in 2023. Technically, prosecutors are part of the criminal justice system, and I have a lot of friends who have retired from law enforcement, child welfare and other similar positions.
The first thing that I would say is that it has taken me more than a year - I'm about 18 months into retirement right now, to fully let go of my past as a "full-time" worker. I think that is a common experience for people in jobs where they provide caregiving (like nursing/teaching) or experience significant vicarious trauma, and may be universally true regardless of the type of career you have chosen. So, my first recommendation is that you spend a year decompressing - wake up when your body tells you to wake up, go to sleep when your body tells you to go sleep, take long walks outside, take the time to eat good food, and really let yourself get in tune with a completely different way of living.
When I retired, I knew that I would continue working part time (I'm 58, retired at 57), so I picked up a part-time prosecution contract with a local municipality. This is a very different job than the one I left - there is no vicarious trauma, no child abuse, no domestic violence, etc. It's mostly shoplifting and trespassing. It's a way to contribute to the liveability of my community and bring in some money, and I'm lucky to have the option of using my skills in a much less intense way. I am eligible for a retiree plan to cover my husband and I, but it is EXPENSIVE so that independent contract pays the premium.
About a year into semi-retirement, I started casting around for things to add to my schedule. I've started some volunteer projects to my schedule and I make sure to get together with friends a few times a month to stay in touch with people beyond my close family members.
Now that I am retired, I can't imagine how I survived working full-time for almost 40 years. The days fly by. I am much more fit than I was when I retired, my blood pressure is lower, I am physically stronger, my mind is quieter, I don't wake up in the middle of the night with a racing heart, thinking about the 20 things I forgot to do at work last week.
I'm also going to become a grandmother this year. I can't wait.
@Christine, thank you for doing that work. I know how hard and grim it is.
Retirement is what recess is to school. You finally get to do all of the things you enjoy, on a timetable of your own making. If DH and I are out shopping for our granddaughter"s birthday and we see a little cafe in the next town on the river, we can decide to forego what we defrosted for dinner and try some interesting new food, and call it dinner.
You get to usher in your favorite activities, time for you favorite people, volunteer somewhere you’ve always wanted to try, drop into classes at the Univesity in town and take up a new hobby.
DH and I worked hard to be able to have a carefree (within reason) retirement, and that’s the only rule. To plan carefully and, as Kristen says, keep your health and mobility. Those are not a given so you do need to work with what you have as you age. But the peace of a life without racing back and forth to work, of being able to spend time with your kids as adults, cannot be overstated.
I retired young (at 55) because my pension became available to me then, and I was ready for a change. However, I wasn't ready to stop work altogether, so I got a job at an upscale grocery store, where I worked another 5-1/2 years until my husband retired (also young, at 56 -- he'd put in 40 years).
We took up beekeeping a year after I retired, and that keeps us quiet busy from early spring until mid-november. It's a fascinating hobby, but lots of work and not for everyone!
Also, I spent a lot of time providing care for my mom. Although she was in a nursing home, I handled her finances, doctor appointments, and shuttling her to them. I also visited about 3x a week, which involved about a 30 minute drive each way. She died in April, which would have left me somewhat at loose ends, but we moved this year, so between buying and selling houses, and the work involved in all of that took up a lot of time -- like most of the year. 😉
My husband and I camp, kayak, cycle, and also fly our Cessna 182, so that keeps us busy too. Unfortunately, we didn't do as much of any of those last year due to Mom's death and our move.
I also crochet a lot of lap afghans from thrifted yarn, which go to where my mom was for their residents.
And we are fortunate enough to be able to travel several times a year.
Additionally, I read a lot, and have been trying to get back to the gym on a regular basis -- something that went by the wayside with our move. We're both lucky to be healthy, and I'd like to keep it that way for as long as possible!
Our daughter is unmarried, and I don't expect her to have any children, so we won't have grandkids to fill our time, and that's fine. We enjoy her company, and she occasionally travels with us too.
I know I am very fortunate to have these options for activities available to me, and I am grateful.
The only piece of advice I'd offer is to take advantage of new opportunities when they arise, especially for things you didn't have time for in the past. Library, park, and community programs can be great providers of chances to try something different, without spending a fortune.
As for health insurance, we get ours through healthcare.gov, and as part of my pension plan, I get $$ paid into and HSA. If we didn't have that, we probably wouldn't have taken the plunge as early as we did. I really look forward to next year, when I'm eligible for Medicare!
I am retired. My first reaction is volunteer, travel, and indulge yourself. Like Kristen said, do all those things you now wish you had time to do. One of the things we did, was move into a motorhome and go see all the places in the USA we had never seen before. We went river cruising in Europe as a way to see a lot with little effort. And books! Oh my, all the books I now have time to read! Habitat for Humanity. Homes on Wheels Alliance. And so many more. You may soon feel like there are still not enough hours in the day.
I retired at 60, in 2006.
I spent the first year focused on my goal of walking the Camino, and I did a lot of walking and research that year.
Since I returned, the Camino has played a large part in my life.
But first, I cared for my grandson from the time he was 18 months, when my daughter went back to work, until he was 12. I shared that job with his father.
I have returned to the Camino 6 times, and more are planned
My daughter and that grandson joined me on the Camino twice. In 2023, 2 other grandchildren joined me with them.
I lead 4 hour training walks twice a week. This is a terrific community, and about 30 people join me each walk.
I attend yoga classes, sing in the church choir, and walk my
grand dog.
My life is full and rewarding and it keeps me young. At 78, I am perfectly healthy and never have to cancel my walks.
Since I live in Canada, health care is not an issue.
Find your passion!
Darlene
@Darlene, to clarify for other readers: I'm guessing that the "Camino" means the Camino de Santiago, the pilgrimage route in Spain?
@A. Marie, Yes it is the Camino de Santago.
I had life insurance, a burial plot and funeral service bought and paid for before I was born. I also had a retirement village residence including meals and medical decades before I was old enough to live there. I’ve not used any of it yet. When my mom’s rheumatoid arthritis progressed my dad put her in a nursing home even though I had been helping her to live at home. When she fell and broke her hip and shoulder he put her in a medical residence to stay. He always said we would have to carry him out boots first from the family home. I got a call one day that he was having an auction that weekend and had sold the house and was moving into an retirement apartment in the same facility my mom lived in. He had a grandfather that did this, telling his kids if they wanted anything from the family home they’d have to bid on it at an auction. My family’s motto should have been you’re ours, cradle to grave.
I ‘retired’ early as my late husband and I moved overseas and my spouse visa didn’t allow me to work. There was plenty to do within the expat community, whether it was volunteering, keeping fit, traveling, visiting local monuments and museums, taking up a hobby, to just enjoying oneself.
Now that I’m fully retired, and widowed, I spend time with my children and grandchildren, knit like a crazy person (1 sweater a month goal for 2025), socialize a lot, and couldn’t find time to go to work.
I think it’s a matter of finding the balance that works for you, and that can take time to work out. Traveling no longer holds the fascination it once did as that was something I enjoyed with my husband. However he wasn’t keen on zoos and museums so those I visit and thoroughly enjoy on my own.
Good luck if you do retire early and, from personal experience, I recommend it!
@Linda, a sweater a month! That's a lot of knitting. One thing I'm doing in retirement is finishing my UFOs before starting anything new. I find myself being drawn to the more intricate, slower work such an elaborate slip-stitch pattern (each row is knit twice) or a size 40 sweater on size 1 needles.
I started "phasing into" retirement at age 64-worked but scaled back my hours in exchange for reduced compensation. I am finally just about fully retired as I approach my 69th birthday-but I was able to work remotely and did precious little work in the past year.
I have loved being semi-retired and retired! I have been anything but bored! Here are some of the things that I have done:
1. I've taken classes through several Osher Living Learning Institute programs. Many of the programs transitioned to Zoom during the height of the pandemic and have retained some form of online learning since. The classes can be academically focused or not-I've take everything from The Poetry of Robert Frost to Rock Music of the 60s and 70s. I have taken classes via Zoom at several different institutions-and two of them are well regarded, nationally known schools located hundreds of miles from our home. A directory of schools with such programs can be found here: https://sps.northwestern.edu/osher-lifelong-learning/.
2. I started doing walks/hikes through our local parks system and a local nature center. Prior to scaling back to semi-retirement, I had no idea that we had a lovely set of county parks with great group walks/hikes and other in-person programs.
3. My husband and I travel a lot. Prior to retiring, we prioritized saving money in a readily accessible higher interest savings account to cover emergency expenses, travel, and the cost of replacing each of our cars at least once. We educated ourselves about points and miles programs, which has really helped.
4. I am in 2 in-person book clubs which try to meet monthly, and joined a 3rd via meetup which pairs books with local and regional excursions. This gives me planned opportunities to get together with friends. I also joined an "empty nest moms" group via meetup, as well as another "outing group" for retirees that a local woman started on her own. I don't go to everything-just those events which interest me.
5. I also try to go out to coffee or a meal with friends several times per month. My husband and I meet up with a friend who is widowed once a month for a regularly scheduled dinner out.
6. I have a toddler grandson and get to see him at least once a week, which brings me a lot of joy.
7. I read a lot, and make good use of the Libby, Hoopla and Cloud library accounts offered via the library.
8. Once in a while, I pick a local nearby town to visit. I get a coffee or tea at a local non-chain shop and just meander around. I believe the French refer to this as "flaneur," and my friend says that in Yiddish this is called "Schmie-ing around".
9. My husband and I have had periods where we hit the $5 Tuesday movies at a local theatre. We also stream movies or series, but don't tend to sit mindlessly in front of the TV.
10. I try to work out by doing a 30 minute Peleton cycle class and a 10 minutes arms and light weight class on the mornings when I don't have to be out early and am not otherwise walking. I average 3-4 days a week. I have to do this as soon as I roll out of bed or it does not get done.
11. I have to guard against too much mindless scrolling. I am our family travel planner, and it is all too easy to fall down the Internet rabbit hole. Be forewarned!
12. I was able to stay on my employer-provided health insurance until I reached Medicare age.
Best of luck-you are wise to be asking questions now before you retire.
This post is well timed as I’m currently trying to sort out my “am I really retiring” situation.
I’m 58 and I’m a healthcare professional.
I’m married and have an 18 year old son in college, for additional background.
After several years of increasing frustration in healthcare (never the patients, but always poor management, unsupportive hospital systems, revenue generation as a top priority with decreasing concern for safety, etc), this Summer I left the hospital where I had worked for 25 years. Unsure whether I will return to heakthcare. My soul is pretty heavy with everything I’ve been through there. I’m burned out.
I/we transitioned to insurance through my husband’s employer. My husband is 56 and plans to work 9 more years in his teaching profession.
Financially, we can do this.
I may return to part time work. Unsure whether I will return to healthcare at all.
I’ve given myself 6-9 months to work on a big project (readying a house to sell that we bought from a family member’s estate). It’s going on the market soon, so I need to start thinking about what’s next.
I’ve always been an ambitious, driven person. I’m not one to sleep in or have unstructured days. So I really need a “plan”
I joined our local YMCA. Working on some health goals with varying success.
Thinking of writing a medical themed fiction book.
Going to decluttering the house in Feb
Spending time meeting up with people during the week for a meal or a walk
I have time to do nice things for a few elderly friends, like make them meals.
Sorting through some volunteer opportunities that might be a good match for my talents and interests.
I think the key is whether or not I will return to part time work in medicine. If I do, then other things like hobbies and volunteer stuff will fill in.
If I don’t, I’m intimidated by all that free time. I think I need to find more hobbies!
I retired early - I was 58. While we could afford it the cost of my insurance was horrendous- just when the marketplace was starting and the plan I had in place when I retired was no longer available after 5 months. Suddenly I had a high premium and my deductible was around 5-7k!! Yikes! (Fortunately I am very healthy and never used it except for wellness visits.).
My husband retired at the same time and had income but I had none until I was 62. Fortunately our house and cars were all paid for and we are very frugal. I had always thought I would work a few more years but was increasingly frustrated at my job. We had 7 years of a great retirement and then 4 years of husband health issues before his death in 2022.
I have a farm and animals to care for and I have lots of quilting activities where I have other people to socialize with (1-3 times per week). I would like to travel more but getting my farm animals and pets care during my absence is difficult.
I didn’t want a part time job with a paycheck but I helped out at my local quilt shop when they were busy and ran a monthly club for them for 8-9 years. (That shop closed in November so the owners could retire.)
I do need to get a strength training routine as I can really tell the difference in flexibility and strength in the last few years. Retirement can be great but it will change as your health or your partner’s changes. I haven’t taken any money from our Ira accounts as yet but will need to take the RMD next year.
I retired at age 62 (almost 63) after 38 years of teaching. I'm 70 now. We've been frugal throughout our lives. We have my school pension, an annuity and both get Social Security. For medical I had help from a VEBA account that paid half of our (expensive) premiums until Medicare kicked in. In 2024 I had a four day hospital stay and my husband and I both had cataract surgery. We had zero out of pocket costs. So very thankful for our medical coverage.
After teaching for so long it was not easy leaving my school friends (and life as I knew it) so I subbed part time the first two years retired. Husband and I started traveling off season which I never could do while working. We have a camper van and have "gone south" most winters for up to six weeks at a time.
My time at home includes walking with my walking group, volunteering in two of my grandkids' classrooms, seeing friends, season tickets to the theater, thrift store visits, book club, being able to schedule doctor appointments during the day, time for reading and hobbies. Really, I often think how did I ever have time to work.
Two big helps for my retirement were meeting with a financial advisor prior to and being able to have a paid off house shortly after retiring.
We are truly enjoying this stage of life. Our health is good. Our finances are working out due to making some good choices earlier in life. We can help out family when needed. Our friends are important to us. We've been married over 45 years and still like each other 🙂 There are many adventures ahead of us.
I did retire at 62 and that was 24 years ago. My DH really wanted me to retire but I wasn’t sure I wanted too. I am so glad I did. We had so many years to travel,visit family, went overseas on several trips and watched the grandkids school activities. do passed in 2021 and I am so glad we had those years together!
I was able to keep my insurance from my job which helped me tremendously. Is that a possibly for you?
I keep so busy, I wonder how I ever had time to work. I had a stack of books to read, yarn to knit and recipes to try out. I pursue those interests avidly. If I want to sit all day and read a book in one setting, I can. I also am active in the community, I took up Tai Chi several years ago and also work at the community thrift store part time. I am passionate about helping others and out thrift store donates all profits back to the community which fits my niche so well. I love my life now.
Sorry about my errors, I didn’t proofread very well.
Thank you for this post Kristin! I turn 65 in March. I plan to continue working but my insurance is through my husband's employer and it is terrible. So I am looking forward to Medicare. I'm hoping to wait on social security until 67. I won't get a pension so we will be relying on our 401k savings. I had a stroke in 2017 and I don't drive more than a few miles. So it can be isolating. I'm on my feet at work and it's hard on my body with one side paralyzed but I need the social interaction aspect. My husband isn't much of a talker! I loved reading all of these responses! Thank you again!
I plan on retiring this year, I have already told my boss it may be as early as April. I will be on Medicare at that point. Hubs can retire any time. He is only working so I have health insurance, his employer's coverage is better than what we have at my employer.
Financially we can retire anytime. My biggest concern is giving up our paychecks. My 2nd concern is our dogs health costs. One is 14 and the other has IBD. And 3rd is figuring out what in the heck will I do. I really need to be around other people. Hubs could never leave the house and be happy, I have to get out.
I am in my 70s now. My hubby and I are both retired. Our advice to anyone who is retiring is this: Don't retire FROM something; retire TO something. In other words, have a plan for what to do with your time. We focus on staying healthy by exercising and walking, spending time with our kids and grandkids (we call ourselves Uber Grandpa and Grandma) and picking the young ones up from school and driving them to activities (makes them talk to you). We love to travel. We both read lots. I love my garden and my knitting and spinning. We are seldom bored and we look FORWARD to every day.
Blessings to you as you face this new part of life.
I'm on track to retire at 60, though I may keep working for a bit after that. Will have to see. I would definitely still plan to work at least part-time and I'd volunteer for causes near and dear to me. I'd definitely travel as well. Volunteering internationally interests me.
I have ZERO in the Quality Advice Department on this topic, but I just wanted to chime in and say how much I appreciated all the thoughtful comments and all the tips/tricks/considerations to make pre-retirement! I've still got a ways to go till I hit retirement age, but I'm definitely already thinking about it and this was just so helpful. 🙂
Think of it like camp. Create a schedule. Exercise, errands, friends, hobby, volunteer, meals, etc. You are smart to plan ahead, pre-retirement.
I've been reading TFG and the NCA since they were born. I give Kristen and Katy a ton of credit for helping me figure out how to live a rich, frugal life. Later, I discovered new blog
by a guy who was calling himself "Mr. Money Mustache."* When that site opened a forum, I signed up, and I've been a contributing member since April, 2012. It got me over the hump, and I retired in December, 2012.
Though the early days were a little bit of the Wild, Wild West, with lots of cussin' and face punching, things have calmed down a lot. Pete Adeny, aka Mr. Money Mustache, doesn't post on the forum and nowadays he rarely updates the blog. However there are a lot of people, like myself, who continue to participate in the forum so they can hold up a lamp for people still on their journey. You can post a case study, and smart people will answer your questions and make thoughtful suggestions. You can ask specific questions, and people will answer them based on their experience and expertise. You can just read/lurk without participating, as there is a huge cache of helpful information.
There are local meetups and a FB group, if that's more your style. (I confess, I don't do FB, but I did a virtual meet-up once and a lot of folks were there via the FB group.) Some members host larger meetups. Some meetups involve classes and seminars on practical FIRE topics. One is just a magical place where people gather, do fun outdoor activities together all day, then hang around the campfire, talking about whatever interests them. Through this "fun only" meetup, I've met at least 50 other forumites face-to-face. Many of them have become good friends IRL.
Example #1: One meet-up friend's daughter was getting married. Our friend had been very under the weather, so my husband and I decided to make the six hour drive in our RV, and be "Wedding Fairies" for five days. We all had a blast. They came to our house for Thanksgiving this year. They have since invited us to travel (and stay with some of the relatives we met at the wedding) to IRELAND!!!!
Example #2: For the sake of privacy, I'm going to be a little vague on the details, but one of my forum friends was inspired to offer her home to someone we all know and love for a lovely tropical vacation while they were off traveling on the mainland. Synchronicity, baby!
Important notes: MMM is a large forum and is a regular target of spammers. Therefore, a little hoop jumping has been established to keep the place safe, friendly and ad-free. The answers to screening questions are in the very first blog post. I've also heard that they have instituted a tiny enrollment fee ($5) to become a member, because some spammers have become too persistent. Happily, we have a lot of vigilant members and an awesome team of moderators who keep things nice and tidy, so don't be alarmed. I'm pretty sure you can read most of the forum without joining.
*Finally, and this is important: Don't be put off by MMM's "Cult" schtick. It was just marketing in the early days. Nowadays, it's kind of an inside joke. Cults don't go around identifying themselves as cults/cult members. Other that a wee initiation (which may or may not be ongoing), nobody wants your money or to sell you anything. It's just a bunch of cool people who are helping themselves and others reach very important life goals.
MEDICARE NOT MEDICAID. Sorry, a sore spot with me. That being said, with the inmates in charge of the asylum in a few days, the ACA and Medicaid are truly at risk. No one is holding a gun to your head to stop you from retiring from you current job and finding another more pleasurable job that provides benefits (think bank teller - most of the mega banks allow non-FT employees to be covered and rates based on pay). No way in Hades will I retire before I am eligible for Medicare (I'm a couple years ahead of you). I took off 15 months between jobs (an extremely financially lucrative benefit package plus severance with combo of COBRA and ACA coverage). I had zippo trouble filling my time. At this juncture, I would not plan ACA coverage. Cutting Medicaid or Medicare may be short term pain for long term gain but few can weather that storm.
I'm with you re: commuting. I have been WFH (minus my sabbatical) for almost 15 years. I was hired remote and I am close to being able to pay COBRA until I turn 65. What retirement benefits do you have from your current employer? Most dropped any medical/vision/dental during the raygun era. Do you need group term life (which has been a rip off for over 20 years IMHO due to their option to convert to "whole life" (what an f-ing rip-off).
If you are a good worker, I suspect you have plenty of options DEPENDING on where you live.
What free time?
I am busier now than when I worked
I get up when I want to
I go to bed when I want
I eat or not when and what I want
My husband had a stroke at 62 so I have been primary caregiver giver for 14 years with him
I guilt for myself and charity
I go out with friends
I highly doubt I will stop working OR work less days per week before age 65. And I have the age gap to consider. Better half would collect squat more even if maxing out SS wages until his FRA. The Great Recession of 2008 killed his business.
I love my job, pure and simple. Hired remote and will never have to RTO. BUT there is the age gap. Why the age to take RMDs was increased is beyond me, particularly with no exemption for non-spouse heirs. I'll be damned if I stick my kiddos with a big tax bill because the idjits in DC were f-ing stupid (read up on Mitt Romney and his IRA/401K - I agreed with none on his positions but he had integrity, which is sorely lacking in what passes for the "r" - yes little r party these days). FRA for me is 67, mandatory RMDs age 75. As for anyone, you need to play the system to benefit you. Besides standard living expenses (food, P&C insurance, utilities, car maintenance), no debt here. No mortgage or credit card/auto et al debt is the key to retirement.
I am 57 and I have no trouble filling my days. Most of my hobbies make money. I like to walk so I walk dogs for money. I also do some overnight care at my home for dogs. I really love all of my doggy clients, so this is a fun gig. I also work at a winery and concert venue. I get to choose which events I work, and I usually work about 30 events a year, and I get to choose from 90 musicians and comedians. Super fun side gig. Maybe you could usher at a Hall near you. There are people of all ages who work there, but most of us are older and retired. I also have a merchandising job where I stock greeting cards in a candy store for 1 hour a month. Easy peasy, and nice perks! Selling on eBay has been a fun hobby. I started out selling things around the house, and now I enjoy hunting thrift stores for more items to flip. I also do some Focus Groups, but those are few and far between. I did a MockJury for a full-day a couple of weeks ago and made $250 cash. Just be careful because not all focus group websites are legitimate. I have found that Mystery Shopping is more trouble than it is worth, but some people do find success with it. I use my Library for free books and audio books, and they are a great source of free events. The audio books are great for all of my dog walks. Check with your Junior College for some classes that may interest you. It is never too late to learn something new. Just last month I finished my Pilates Teacher Certification, and am working up my confidence, with practice, to start teaching classes. You could also maybe look into your local Volunteer Center and get involved in your area.
I’m 63, my husband is 61, and we’re both in excellent health. He retired from his school district a number of years ago and has since picked up a 2nd career which he loves. I’m a musician, and I plan to continue performing as long as I am physically and mentally able to play at a professional level - hopefully well into my 70s. I also teach private lessons, and I expect to teach my last lesson on the morning of my funeral. I have neither the desire nor any plans to retire. Five years from now, I hope to be teaching less than I am currently, but I would still like to keep teaching some.
I’m late to the commentary, but I retired at 63 from a 42 year career in nursing. My body simply couldn’t take it anymore. I needed major surgery on one foot and my legs ached so much after 12 hour shifts. Anyway! I recovered from surgery, and have never looked back. I loved my career, and I love retirement, too! I got straight to work purging my closets and drawers and became a regular at the thrift store! I was going to sign up to volunteer sorting through the mountains of stuff they get in donations, but I didn’t feel like going through the application process, background checks, fingerprinting, etc, so skipped that. I then volunteered to be a ballot clerk, which is about three days a year! I have time to visit my grandchildren who do not live close, but we get there when we want and need to. We travel with a group of four couples, usually take one major trip a year, and my husband and I do small getaway trips, plus fly to our daughter and her family three times a year. I could not have managed this when I was working, even if I could get the time off, I was exhausted. I have loved being out in my gardens, and for three years, I helped with my mothers care to keep her at home even with dementia. She passed in August, and now I feel a void, as “caring” has always been my thing. I will find another way of doing that as a volunteer to fill my empty hours, but for now, reading, lunching with my friends and enjoying life!
I think it is a good idea for many people to ease into retirement by switching from full-time to part-time work. This gives you a little time to work out what you want to do when you are fully retired. This also helps you to understand what your life will be like without the income of a full-time job. I know your financial advisor feels you will not have to worry about money, but a 60 year-old woman today could possibly live for another 30 years and even a little bit of inflation every year for 30 years can make things uncomfortable. I'm 78 years old. I retired for the first time at the age of 62. I then worked part-time for 15 years and retired again at the age of 77. I know that not everyone can work into their 70s, but I was lucky to be able to do that and am happy with that decision.
@Marilyn, Your mentioning living for 30 years points out some of the uncertainty of life-expectancy and how one needs to get perspective on it. Advertisers will scream things like "The average senior spends $300,000 in health care costs in retirement!" If one divides $300,000 by 30 years, it means $10,000 a year. That isn't a horrendous amount considering what I pay pre-Medicare, (deductibles, premiums, eyes, dental). And Medicare isn't completely free anyway, as there are monthly premiums and other costs.
I guess my point is to take the long view. And I'm glad you were able to ease into retirement!
Kristen, I just have to add this was such an excellent post!
I’ve received so, so many great ideas from our fellow interesting, engaged, insightful readers!
The community is what makes this place so great!
I am 53. 31 years as a nurse. My plan is to retire at 60 and go on the marketplace for insurance. I will take SS AT 62. I am currently a school nurse and I can come back and sub as much or as little. If I do 2 days a week just to give me something todo that will be great. I will be financially fine with SS, pension and working 2 days a week. I will probably sell my home and move into apartment and bank that large sum of money. I want to travel extensively and see the world. If I do become a grandma someday I will be relocating to where that grand baby will be. I am excited and ready to be done with my career FT.
@Laurie, This seems to be a well-thought-through plan!
I would be curious about a post (which might have an enormous number of comments) about how people decide where to move to for retirement, or even just because they need different surroundings. Without a family connection, or a job move, how does one sort through the options?
@Heidi Louise, My ultimate goal is to live in a tiny home community. Possibly South Carolina. I am not fan heat so no to Florida, Arizona and Texas. I do not have much support and friends, but by doing something like this I can have the friends that I desperately need. It is very hard to make new friends in your 50’s.
@Laurie, I wish you well! I understand the challenges of making friends as one is older.
Kristen, I was 'shoved' into retirement, thanks to Husband's sudden decision...but we were okay, thanks to some consistent decisions made before that. Would you be interested in a post about it? (We're past the ten-year point now.)
This post is so long ago and I am starting to be concerned the post frequency is so off. Do I not see everything displayed? Did I miss an announcement?
Hey there! Is this the most recent post you see? If so, try clearing your cache/browser history and see if it clears up!
@Kristen, thank you! Somehow when I went back today, I saw all the new posts! Phew, I am relieved!
Haha, well, if you see several weekdays without a post from me, you can assume something's gone wonky because we all know I don't usually skip days!