About to join those on permanent vacation.....and a fixed income

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Congrats to the OP and wife, as well as all others who have 'made it' to happy retirement. I'm on the younger side of the demographic here personally.
As I recently mentioned to another member; after years in corporate management I got an unexpected chance a few months back to go into business for myself, albeit in a small way, and am hoping about 20-25 years with my 'new' little company will see me joining the retired by 60 club. 😀
 
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Congratulations!!! My wife and I retired a few years ago (myself at 59 and she at 57) and we have not looked back. Gone are the stresses of our jobs (we both worked in healthcare) and we have found more time for ourselves and each other. I hope you enjoy the upcoming years. 👍
 
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Good for you I hope it’s a long healthy retirement. I guess it’s kinda cool I mix with all types of people but probably the most interesting one is my wife’s friend who was a cpa at a hedge fund. I think she worked there for 7-10 years. Her six figure bonuses were bigger than her high six figure income. She retired at 34. Don’t see her much anymore she is always off doing something interesting. I’m always happy to hear people retire successfully. Things became a little more difficult when companies moved from pensions to 401k’s unless you work for the fed, state etc. I try not to think about retirement too much it’ll give me an anxiety attack.
 
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Congratulations on your retirement and your diligent and discipline planning over the years.

My wife retired from the teaching profession last year at the age of 58 and I'm semi-retired as I only work two days a week. I have always believed that you need a few interesting hobbies, projects, and friends to make retirement successful, besides money and a good spouse if you are married. My Dad retired at the age of 44, did a few odd and end jobs and finally stopped working altogether at the age of 54. He had a great pension, a wonderful companion ( my mother passed at 42 ), fun hobbies and traveled the world. He lived till 92 and was healthy and driving till 91.

I'm considering retiring next year, but, since I work for myself and as long as I'm enjoying what I do and still have time to do the fun stuff... I can go like this for years. But, it's good to know I can retire at any time.
 
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Congrats to the both of you and best wishes for a long & happy retirement.

My wife and I also lived life below our means, saved & invested diligently. She retired last year in her early fifties and I left industry to teach at a local college, so I’m working 9 months per year at a slower pace. It’s been great! But I have learned that preparing for retirement is more than just a financial exercise: you need to plan your time. Sure, a few weeks of doing nothing is cool but gets boring if you have 30 years of it. Despite my many hobbies & interests, I’m glad I do have a job to go to for part of the year. It keeps my energized. So get involved in something and keep in touch with your friends: that’s what keeps you young!
Cheers
 
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Congratulations!!!!! I retired from law enforcement last March, just before all the fun started (covid-19 and the rioting). I have a nice pension, 403 (b), and some investments. Other than a tiny house payment, no debts. Now the fly in the ointment. Health care!! It all went bye bye when I retired, zilch!! I have a wife and a ten year old son, so I needed to find a way to get it. I got a commercial drivers license and work for my local school in transportation, my wife also works part time in the same school system. My PT job pays for our family health care, and all three of us are on the same schedule with summers off. Life is good!!!
 
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Congrats. It is a significant milestone for sure. Very rewarding but not as easy as it seems. All the covid stuck at homes can get a flavor of retirement challenges.

I got a two year jump on you. Unfortunately my wife is still working so I have to find my own entertainment. Having a retired spouse is a luxury.

Some things I am learning:

(Try) to limit your Omegaforum time. There's more to life than reading OF all day.

Wear a watch even if you're the only one who sees it.

Get a pet (if you don't already have one). Preferably one that needs long walks of at least an hour per day.

Stretch.

Find a part time job even if it's for no money. (I got lucky and am working for watch credits.)

Don't feel guilty about not getting as much done as you used to with your time. It's okay for projects to take longer because you take alot of breaks.

Take a lot of breaks.

Take naps if you are tired. It's okay. Whatever you were doing will still be there tomorrow.

Plan trips, even if you can't go anywhere now. You still have a future to look forward to even if you are no longer looking forward to retirement. Retirement is not the finish line.

Really enjoy that first cup of coffee in the morning. Take it slowly and enjoy the moment. It's hard to get used to not thinking of the next thing.

Cheers.
 
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@pdxleaf, Wow! I was going to say long post, but I will instead use the term, well thought out post. LOL You make some good points, let me address a few bullet points.
I wouldn't have retired without my wife doing so also. She wasn't as miserable at her job as I was, but I have always told her, it was a "package deal". I wouldn't expect her to keep working if I wasn't willing to do the same myself. I will try and spend only a respectable amount of time on the Forum, but it is winter here and I am not much of an outside person in the winter. I shovel, snow blow and get back in the house asap. 10-4 on the watch wearing, I wear one every day, whether a work day or a day off now, so don't imagine I will stop wearing one.....even though my cell goes everywhere with me. We have 2 cats. And even though I don't have to walk with them, I do spend time with them. The male has some needy, dog like qualities about him and is always looking for attention and to be with one of us. I don't just stretch, I walk 2 miles at least 6 days a week, do crunches and 2 sets of just over 100 pushups. I started my unionized, semi sedentary job at age 26 and 166 pounds and I am retiring 32 years later at 173 and with better muscle tone, abs and larger arms than I started. So, I am going to tell you the weight gain is in muscle. That is my story and I am sticking to it. LOL I don't nap, never really have. Once I am up in the morning, I am done sleeping for the day, just how my body works. I do have projects planned and plan on doing "just one thing" each day. I have been practicing that for 3 or 4 months now, as I planned on my retirement. Today, I went outside and moved around some trees that had fallen earlier in the month when we had a wet, heavy, snow fall and high winds. The yard isn't completely cleaned up, but I have some firewood for next year and as soon as the branches dry out from all the rain we had yesterday, I will burn it off in the fire pit. Some days, when I don't have yard work, I have told my wife, my just one thing will be to help her clean a room that needs to have a deep cleaning. I have never been domesticated, but I do plan on getting better at that. The other day, while she was at work, I vacuumed all the rugs, swept and mopped the tile and linoleum and cleaned up the rooms I knew our company would be in the next day. And it didn't even kill me! Who knew?? We do take trips, even did go to the ocean 4 times this summer and fall, during Covid. We have a camper and normally we travel a few times each year. I expect to do even more of that when we get beyond this mess and we can strike out for parts unknown, even on a Tuesday if the mood hits us. We will do some real traveling, overseas in a few years. It will time up well that our daughter will be about 22 and into full adulthood when SS kicks in at 62. Then I will happily take my wife to any English speaking country she wants to see. She and her sister have been to France, Japan and Spain. Now I will take her to England, Ireland, Scotland, Australia and New Zealand. As for the coffee....I enjoy the first, second, third and sometimes 4th cup of coffee. That is my real computer and OF time. Thank you for all your thoughts, I plan on just breathing for about 4 months, but kicking it up a notch when Spring hits.

McK
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Congrats on retiring .... I retired 11 years ago at age 59 and never looked back. I never had any issues sliding into retirement but some people have difficulty, usually because they don't have many outside interests. I never had that problem with watches, clocks, motorcycles, cars, wine, travel, and others The one thing you have to watch is your cash flow, I found our spending amounts didn't drop all that much, but that is person specific. Some couples can shut off the spigot and live very frugally, we didn't by choice and circumstances. I keep meticulous financial records of the rate-of-return on my total financial assets (including house, cars, watches, etc) and use an Excel spreadsheet looking two years out as to what the cash flow will be and how the total financial assets are doing. The days of living off of interest are long gone, you have to be in the market so you don't draw down your capital too fast. But you need a couple of years of CA$H so you can ride out any market downturn like we had in March.

You've got a few years until you are eligible for Social Security so that requires careful managing of your assets. You'll get all kinds of advice on whether to take SS at 62, full retirement age (67 for you) or wait until 70 for max. amount. Only YOU can make that decision based on family history, health and other factors. We took it at age 62 (about 8 years ago) and just last month our total benefits received finally exceeded the totals contributed to the plan starting in 1972. Social Security is a terrible investment but really no way around it, but we are happy we at least broke even on it and make money on it going forward.

It took me about a year to fully acclimate to retirement, there is just so much new in your life you'll have to readjust to. You may be busy now doing things around the house but those projects will eventually get done and then you'll have to do things to fill the time. Just take it easy and enjoy your life with your family.
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@Evitzee....I don't plan on changing our spending at all. I don't want to go backwards one inch on how we live. That is why we went to the financial planner. I told him what we had for a nest egg, what we spend each month, that I didn't want to change our habits, what amount I wanted leave for my daughter, who wants to be a teacher, and asked how long our money would last. He answered "virtually forever". He will now take over running our accounts and use a mixture of stocks and bonds and probably be much more disciplined investing our money than I have ever been. I know I will start drawing SS early, as men in my family don't live much into their 70's. I have already outlived a couple of Uncle's on my father's side. Your meticulous financial record keeping sounds like my own. I always judged my returns vs the S&P 500 and have separate savings for emergency, vehicles, and college funds, etc. Now I fear I might be in danger of telling too much about myself, as I mentioned some others are prone to do on other forums I belong to, LOL. Enough about me....I was just so happy to retire, I had to share.

McK
 
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]....and asked how long our money would last. He answered "virtually forever".

Dad!! I’m so glad we found each other on OF.
I just started the rat race 2 decades ago. 2 more to go.
I’ll see you and Mom in 2021.

ps. Your granddaughter loves old watches too.
 
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Dad!! I’m so glad we found each other on OF.
I just started the rat race 2 decades ago. 2 more to go.
I’ll see you and Mom in 2021.

ps. Your granddaughter loves old watches too.
When I took a pre-retirement course from my company the presenters were very serious when they said the biggest threat to a retiree's retirement funds are their children. They had seen time and time again where kids tapped into the parents and bled them dry.
 
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@Evitzee....I don't plan on changing our spending at all. I don't want to go backwards one inch on how we live. That is why we went to the financial planner. I told him what we had for a nest egg, what we spend each month, that I didn't want to change our habits, what amount I wanted leave for my daughter, who wants to be a teacher, and asked how long our money would last. He answered "virtually forever". He will now take over running our accounts and use a mixture of stocks and bonds and probably be much more disciplined investing our money than I have ever been. I know I will start drawing SS early, as men in my family don't live much into their 70's. I have already outlived a couple of Uncle's on my father's side. Your meticulous financial record keeping sounds like my own. I always judged my returns vs the S&P 500 and have separate savings for emergency, vehicles, and college funds, etc. Now I fear I might be in danger of telling too much about myself, as I mentioned some others are prone to do on other forums I belong to, LOL. Enough about me....I was just so happy to retire, I had to share.
Sorry was going to post something, then thought better but pushed the wrong button. Again congratulations and best of luck
 
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Sorry was going to post something, then thought better but pushed the wrong button. Again congratulations and best of luck


Don't hold back on my account....I can take a jab every now and then....probably deserve it too.
 
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@pdxleaf .... A most excellent retirement primer!
 
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Oh one more thing...EXERCISE and lots of it along with eating properly. Running , Jogging walking fast out in the great outdoors along with push ups and sits ups and curls..You can do this all for free and It will get you out of your comfortable chair and away from your monitor and the wrist watch forums.
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Thanks to my wise choices in investing many years for multiple college degrees, 15 years as driver for a touring drag race team, another 12 working and living in the tropical Philippine islands, I can look forward to finally being able to afford retiring from work when I'm oh, say, 104 if I'm lucky. 😁
 
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Retirement is overrated - I don't think I will bother (because I financially cant) retiring until the day I die...
 
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My in laws made the decision to finally retire this past summer. I have never seen them this happy and busy! Their social circle/calendar, even with COVID and social distancing, has never been more full.
 
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Congrats. It is a significant milestone for sure. Very rewarding but not as easy as it seems. All the covid stuck at homes can get a flavor of retirement challenges.

Some things I am learning:

(Try) to limit your Omegaforum time. There's more to life than reading OF all day.

Wear a watch even if you're the only one who sees it.

Get a pet (if you don't already have one). Preferably one that needs long walks of at least an hour per day.

Stretch.

Find a part time job even if it's for no money. (I got lucky and am working for watch credits.)

Don't feel guilty about not getting as much done as you used to with your time. It's okay for projects to take longer because you take alot of breaks.

Take a lot of breaks.

Take naps if you are tired. It's okay. Whatever you were doing will still be there tomorrow.

Plan trips, even if you can't go anywhere now. You still have a future to look forward to even if you are no longer looking forward to retirement. Retirement is not the finish line.

Really enjoy that first cup of coffee in the morning. Take it slowly and enjoy the moment. It's hard to get used to not thinking of the next thing.

Cheers.

I can find myself very much in all of this. Made the decision end of 2019 with the idea of going overseas for 2 years of travel starting mid 2020. Obviously Corona put a stop to that.
After 48 years of working mainly in the building trade, retirement has its challenges for me. I often felt unfulfilled and as if my days were wasted when not working. Talked a lot about this with a friend who went through the same when she retired. Keeping busy with long walks and swimming, generally keeping fit and active has been a major relief valve. Going for a coffee in town is now a regular happening. Also keeping in touch now more with relatives and friends.
And going overseas? I am hoping for sometime in 2022.