Retirement, pros, cons, opinions and advice

[Will Henry]

At 76, I guess I'm still not retired. The campground takes a certain amount of time all summer long. In between the campground chores, I do whatever I want, when I can fit it in. I gunsmith only when I am offered a project I am interested in, and I make my You Tube videos. Sometimes, I'll work a couple days for a local machine shop, in trade for materials mostly. I cut trees off the place and haul logs to a local mill. I build more campsites and build roads. I have too many vehicles to work on. My dog likes me; my wife accepts me. As I type this, I am looking out my living room window, across the field at the snow-capped Rocky Mountains.
Through good luck, as much a good management, we have enough money to have options. That's pretty important for retirement.
Like I said, not really retired, I suppose, but pretty free. I backpack, canoe, fish, and hunt. I ride motorcycles, on and off-road. We'll RV in the winter. Every day, I can choose what I want to do. If I want to do nothing, I can do that too. I guess that's kind of like retirement. I hope to continue on much as I am until I'm done; then take one more hike up into the mountains and stay right there. WH

 

[Jr solocam]

I semi retired at 51. Fully retired at 57.

Cons:
Sense of purpose, lack thereof. I do miss my work friends, text and FB isn't the same. Income went down significantly. It's easy for me to drink too much beer

Pros:
Not much of a schedule to follow, Tuesday is the same as Saturday. Have time to cut grass and move snow. Have time to have three great dogs. Have time to do load development and hunt all fall. Have time to play with toys like sled and sxs. I can do what I didn't have time for before.

My advice is simple. Keep a close eye on your health. Spend time with family and friends. If your income takes a hit, find a new budget that works. If you want a new toy(s) buy them now.

Best of luck, it's not as good or bad as people say. Live your life!

 

[D Coots]

Got out of high school in 65. Went to work for my Dad. 59 cents an hour, salaried...60 hours a week. He had 3 employees and 1 location. Spent my whole life in the business except 6 months, basically 54an years. I bought Dad out in 1985, so I owned it for 34 years, but I'd been making most of the decisions since 1972 or so. I retired 6 years ago in June after my SIL broke our written agreement on business succession. There were 40 full time employees and several part time. I had 3 locations in Iowa and one in Illinois. After 2 years of negotiations the company was history, and I sold to multiple buyers. I was so sick of the dealing, I was glad. I was 71 when I retired. Now I can do anything She tells me, family things, shoot at my range at home, compete all over, race the 409, work on it, golf, fish, do whatever in the shop. I stay busy all the time. I have not missed the pressure of work at all, but I still have dreams weekly about the business. Life is good, all I need is more time....

The rope is getting shorter......

Later
Dave

 

[Steve Donlon]

You have a hobby and you can still do little jobs to keep busy and make some money when you feel like it. Not when you have to do a job. Our horses keep us busy. We try to rescue as many as we can. So you have to find a passion you love to do besides shooting. The minute you stop having a passion, you start going down hill fast.

 

[joshb]

My best advice is to have a plan and stay active. I lasted exactly 2 weeks. I sat around, got up late and drank too much beer. It was a nice vacation but I started going nuts. I went down to our church and started fixing things. That went full time for two years. Then I started doing jobs for friends. I even renovated a bathroom for my dental hygienist. There’s enough “free work” out there to fill another lifetime and a good way to pay it forward. During all that, I started shooting my old hunting rifles for fun. Got bit by the “accuracy bug” and started my journey down the rabbit hole. That lead me into stock building, which turned into a great time consuming hobby and keeps me active.
I recently realized I was getting a “belly” so I bought a weight machine. That is a BIG reality check! I think I waited too long! It’s going to be a hard fight to get my six pack back!

 

[357Mag]

I’m approaching retirement. I’ll always be actively doing something, I’m a contractor by trade and I don’t ever see myself not having a project in motion but having said that I’m looking forward to a lighter work load. If I want to go fishing, call coyotes, look for arrowheads it will be nice to have the freedom to do that when I want to do it.

Many of you are retired, you’re experiencing that stage of life now. So my question is what are the pros and cons of retirement. Many would say there are no cons but I’ve seen people in my own life who were not happy in retirement. I’ve seen others who became stagnant and lost their physical and mental sharpness. I’ve also seen the opposite, many who have flourished and seem to enjoy a high degree of peace and satisfaction.

If you were to give your opinion on the pros and cons of retirement what would you offer, what would you advise.

I know everyone has a different set of circumstances, finances, health, everyone’s path is their own but I’m curious what pointers or advice would you offer?

Nakneker -

Howdy !

I myself haven’t seen a “ downside “ to being retired.
The biggest thing I’ve noticed…. is that my wife found out !!!
You know the phrase “ No rest for the wicked “ ? K
All I can say is….I must have been awfully; awefully bad !

I don’t miss having a near idiot for a boss, or being task-saturated while also being under-appreciated; or… outright disrespected. No more time clock, being pressured to meet unrealistic production deadlines; getting jumped for when the train goes off the tracks… and I wasn’t the Engineer. Fare thee well to the politics, and people’s expectations for having their _ _ _ kissed.

Perhaps one of the most significant changes, is going to a “ fixed income “ situation; if no part-time or other supplemental income is part of the equation. How retired do you want to be ?

I myself am not wracking my brain, having to think of things to do, or be done.
I have help with the latter.


With regards,
357Mag

 

[K22]

This is a case where one size does not fit all. Assuming you are financial prepared and have all those bases covered, the biggest issue for me was going from having an important job with a lot of responsibilities to zero. It was quite a transition mentally.

However, I never regretted it because it gave me time to spend with my beloved wife. Because I traveled so much my entire career, this gave us a chance to spend some high-quality time together and enjoy out grandchildren. I was also able to resume my passion for varmint hunting full bore.

I think most will agree, the key to a happy retirement is staying active and pursuing some of the things you never had time to do while working.

 

[rlporter507]

Unless I'm going to a match, I get up when i wake up. anywhere from 5am to 9am. I have something to do most every day, load, clean a barrel, go to the gym and wal-mart. If i dont get something done, well there's tomorrow! I watch some TV between loading boxes of ammo, or tinkering on a project. Been working on a BR stock for a 22. I have a match every weekend through september. people that think i need something to do get put off, my best excuse is I'm going to the range. today is junior day at the range, so i will practice and then coach this evening. Every october I go fishing with my son for 2 weeks, so I'll be tying flies soon. I spend some time on here and a couple other forums, watching mostly for some good info and deals. sometimes i get lazy and dont want to go do something, but i force myself because i know when i get there i will be glad i went. and I am. Oh, coffee's ready,,,,,,,,,,,,,,

 

[dgeesaman]

"Have something to retire to, not just retire from."

I think this is what bit my father. His career ended a little earlier than he expected and he turned to alcohol in response. I think his identity existed at work not home.

He no longer has access to alcohol but it really changed him mentally and physically.

 

[CharlieNC]

I retired nearly 14yr ago. Had so much fun in R&D I couldn't believe they paid me to "work", but I got fed up with the political BS. Then consulting for 12yr was interesting and paid well, but I got tired of seeing little progress. I still miss work but could not function in the woke, I need to work from home generation today. Hobbies are fun but not the same level of challenge/reward. Be SURE you know what you will do upon retirement.

 

[cwebster]

If you want to do something strikingly visual, take a tape measure and stretch across the floor to 85 inches, if your luckey. That;s your lifespan hopefully, now look at where your age is on that tape measure in relation to 85, then look at the start of the tape to where you are now. If dont wake you up, nothing will.

 

[lawman29]

If you were to give your opinion on the pros and cons of retirement what would you offer, what would you advise

People who are happy/content etc will be happy/content whether they are retired or not. People who are unhappy/grumpy complain etc will be unhappy/grumpy whether they are retired or not... You'll figure it out.

 

[jds holler]

I've been slowly pulling back from my job, and finally pulled the plug completely just a couple months ago. Biggest downside or even danger for me is this--

My job was very physically active and strenuous. Involved a lot of lifting, climbing, walking -- kept me in great shape, strength, agility etc.

I am amazed at how fast and far I've gone downhill in that regard in just a few months, and I'm gonna have to do something about it. I can see how someone could let themself go to the point where you'd become an invalid in a short period of time. jd

 

[Kalitrazescapee]

Probably the biggest negative in any retirement is not having enough money to do what you really want to do.

I am 78, and I still am extremely active in our business, which I am one of the owners. So I guess I can’t relate. The main reason I simply just don’t quit is I enjoy what I do and am well rewarded for doing it.

But, I do have many friends that are retired and enjoy their time, and several do have a certain despair over not being able to do some of the things they want to do because of lack of funds.

I'm out of retirement for the second time... always in heavy industrial work....I thought I had enough income but medical and Biden kept me building debt....so now I'm in Kentucky,working in a rebuild shop for underground coal mining equipment....I didn't have the money to do things anyway....now I can catch back up ....btw, I'm 66.

 

[Idaho-Lefty]

The best part is no schedule. It ruins my day when I have a doctor's appointment, haircut etc. I go to breakfast every morning with several guys I worked with for 30 years.

This ^^^ Times,.. 100 ! Yup,.. NO Schedule and NO One to,.. "answer" To !
Build a Portfolio of, "Good Quality" Dividend Paying, ETF / CEF's in,.. 45% Stocks & 55% Bonds/ Fixed income and Go,.. Fishing, Hunting, Target shooting and Reload your Ammo,. when it's,.. Rainy / Snowy !
"Work" IS,.. Highly, Over rated,. IMO !
Unless you NEED to,.. "Stroke" your Ego and Make a LOT of Money,. THAT,. You CAN'T,.. Take with, You !
( 13 years of, Retirement already and Enjoying, EVERY Minute of,.. It !! )
PS; I started my Sep IRA at, 31 years of Age and strived to Become,.. Financially "Literate",.. since then.
Make SURE that, your monthly Bills are Low and the Income,.. IS MORE than,.. you Need !

 

[Forum Boss]

I'm amazed some of you guys were able to retire in your late 50s. I turn 70 in the fall, and then will finally start pulling Social Security. In order to actually enjoy some retirement, I'll have to bring in another moderator/security guy as I work pretty much every day, 52 weeks a year. And that means we need to find more funding sources.

 

[CJ6]

I retired 3 years ago.
Did the "Honey Do " list for 2 years then found a part time delivery job just to keep in toy money.

 

[NZ_Fclass]

I have learned that keeping ones mind and body busy is the most important aspect. I was fortunate to be involved with an historical project on retirement. It involved - and still does to a lesser extent - a lot of overseas travel, some 70 odd countries over a 12 year period.

I also took up F-Class for the summers in NZ - the winters being spent overseas. I previously mostly shot ISSF pistol and casual rifle shooting/hunting.

As the project wound down, thanks to the political pandemic and the completion of the majority of the tasks - F -Class consumes most of my brain activity. I try to shoot most weekends during the season at one or two clubs and now having even more time at home, travel to more competitions.

Every week I learn more about reloading, shooting technique etc. I walk more and shop less, thanks to online supermarkets. I dine out with friends once a week - nothing fancy, you understand - I can't afford Berger bullets and haute cuisine.

I'm also a bit of a hoarder, sorry collector, of British sporting rifles,

The worst things about getting older? Regret that you should have done more when you were fit enough to do it better and going to funerals of good friends. This week I also have to have a talk with one of my close mates about giving up shooting as some signs of ageing are showing through - and he's not quite retirement age.

 

[hogpatrol]

Pros: No one (except maybe a significant other) owns your most valuable possession, time.
More time to spend with your family, friends and hobbies.
Cons: Realization that your remaining time is limited and you're not going to live forever.

 

[Mark W]

At 58 I’m getting close to retirement myself. My plan has been to continue working full time until 62 and then start drawing SS, although like many others, I will still do a little something. During my annual check up with my financial guy earlier this year, he said that I’m well ahead of where I need to be, so he suggested retiring earlier or spending more money.

I have a hard time doing either because of my fear of major medical expenses. Back in November, I was diagnosed with thoracic aortal aneurysm which is okay for now, but may require surgical intervention at some point. I also have two bad knees that will probably need to be replaced eventually.

At this point it’s a balancing act for me. I don’t want to run out of money, but I’m not interested in leaving a bunch behind, because I don’t have any children.