Boycotts, Movements and Marches: Relive Some of the Events That Led To Change During the Civil Rights Movement. Read More

Reply
Bronze Conversationalist

Re: Career to Retirement: How Social Relationships & Life will affect you

2,145 Views
Message 1 of 8

As a physician, I had planned my retirement well in advance. We saved a lot (Being very frugal helps) right from the beginning. The help of a financial adviser helps a lot in making intelligent decisions. Hence it is very important everyone thinks of this when they are young and able to save.

Once the date of retirement was set, we decided to move to another state with rich culture and diversity. This helped to have a whole lot more friends and ability to visit them and interact in various activities. Even though I was "retired"(for all technical purposes) I continued to maintain my license. Hence I was sought after to do locum work at various clinics and offices. This gave me some income time to time. I also decided to donate my time to a local Free clinic which helped the under and uninsured patients (yes, despite we are a very "rich" country, we have a lot of people who have no health insurance like many Western countries). Due to my years of service and exposure to medicine, I was appointed to several organisations as an adviser. I never regretted retiring when I did.

Now we started looking into traveling to various countries and spend quality time together.

It is very important that after retirement, one needs to look back to the savings and make sure you are not outliving the savings. Keep the expenses low and make sure the investment is diversified. Our financial advisor (vice president of one of the largest financial intitutions in the USA) has been very kind and cooperative in talking to us directly whenever we called his office and spend time to explain all the investments and its returns.

Report Inappropriate Content
Info Seeker

Re: Career to Retirement: How Social Relationships & Life will affect you

2,254 Views
Message 2 of 8
 
Report Inappropriate Content
Trusted Social Butterfly

Re: Career to Retirement: How Social Relationships & Life will affect you

2,801 Views
Message 3 of 8

"We've learned from you, don't try to do too many things in a day when traveling. Just one or two activities or sights in a day, with a list of other things to do in the area as alternatives, in case the original plan doesn't work out."

 

   Good post!  I always like to hear people that are really into travel and seeing things, not just rushing around. I like the planning too --- I will spend hours and hours over several months (during winter) studying areas and planning trips for that year.

   We're into hiking, so we're out walking 4-8 hours a day and really explore an area (usually national parks) by staying 10 days up to a month and hiking 6-12 miles a day. You reallly get a feel, and experience an area by doing that.  It's always the quality, not quantity.


Just think. The world was built by the lowest bidder.
Report Inappropriate Content
Regular Social Butterfly

Re: Career to Retirement: How Social Relationships & Life will affect you

2,807 Views
Message 4 of 8

I keep in touch with former co-workers (some retired, most not) via e-mail. If I know their interests/hobbies I'll send along articles that might interest them, since I'm a subscriber to several on-line publications that most don't get the chance to read.

 

Occasionally we'll hook up for personal visits, but I keep that to a minimum. We're busy, they're busy, and it's hard to connect. Friendships are more 'fluid' in CA than when I grew up in the Midwest--if you see your friends once or twice a year that's actually normal. Phone calls and e-mails are the norm with everyone.

 

My spouse and I have a variety of hobbies and had no problems slipping into the routine of retirement. Our hobbies take considerable time, and we're also voracious readers, both old-fashioned 'real' books and e-books. I personally consider the Kindle one of the greatest inventions ever; no longer do I have to lug around bags of books whenever I know I'm going to have considerable 'down time', whether it's waiting for the doctor or at the airport.

 

We wanted to travel more around our local area, to explore at length the places we were too tired/too time-constrained, due to work, to visit for more than a few hours or a weekend, at most. Now as retirees we can travel mid-week and avoid crowded weekends; stay several days instead of rushing back home to do chores before having to return to work.

 

It is so much fun, in fact, that five years later we still aren't tired of it. We make a 'big trip' once or twice a year, but make regular 'mini-trips to nearby areas - Napa Valley, Sonoma County (which we split into three separate regions due to size), Monterey/Carmel, Mendocino County - averaging 6-8x per year. Every time we visit, there's something new to see or do, no matter how familiar we may be with the general area. 

 

We always think planning is valuable, but I know many people have a hard time with it. Planning involves a lot of work, plus any plan is useless unless it's been "stress-tested". We have many Boomer friends who felt they had planned as well as we did, only to find during the Great Recession that unlike us, they hadn't done any real financial planning for when multiple things go wrong, not just one or two crises. We were able to retire early as we had planned, and have been having a great time ever since.

 

A good plan is flexible, because circumstances change and emergencies happen. I use the same idea when we plan for travel. We aren't 'high energy' people and enjoy keeping things organized but low-key. To accomplish this takes hours of pre-trip planning. Even when we're familiar with an area, I'll do a rough draft of our schedule and then search within a specific neighborhood or district for places to visit.

 

A younger couple started traveling with us on a couple of trips as we really enjoy each other's company. The wife told us afterwards they really appreciated the relaxed pace we travel at. "We've learned from you, don't try to do too many things in a day when traveling. Just one or two activities or sights in a day, with a list of other things to do in the area as alternatives, in case the original plan doesn't work out."

 

I felt that was a great compliment, and thanked her!

Report Inappropriate Content
Social Butterfly

Re: Career to Retirement: How Social Relationships & Life will affect you

2,854 Views
Message 5 of 8

Thank you for the feedback!  Astraea - I get it with your previous employer & the high security clearance.  My husband was a high school teacher for 30 yrs. and its not easy for retired teachers to visit for a social call.  Public schools these days have tight security & employed teachers & administrators are under the gun to ensure students are performing up to state & national standards.  My job was in retail so visiting was much easier.  Your comment on caregiving also struck home.  The first 5 months we were caring for my husband's father who unfortunately passed last Dec.  So grateful we had those 5 months.  Then we had home renovations & now we're starting to travel.

Retired traveler - we were petty frugal in the beginning mostly due to caring for my father in law (see above).  Home renovations took up the next 3 months & now we're starting to travel.  Just took our 1st trip & happy that we stayed within our budget.  I will admit we spent more than expected on other items (baseball tickets, Broadway musical, home renovations, etc.)

Anybody else care to share their experiences?

Report Inappropriate Content
Treasured Social Butterfly

Re: Career to Retirement: How Social Relationships & Life will affect you

2,864 Views
Message 6 of 8

I worked at a high security facility, so going back to visit wasn’t really possible. Since I retired at 50, none of my peers were thinking about doing it at the time, and they didn’t ask me what it was like. Yes, people “disconnect” very quickly! About 7 years after I retired, the facility had a big anniversary, and a lot of retirees attended the party .. but it was off-site, and I don’t think any/many current employees attended.

 

I’ve never been a big spender; I “pay the bills”, and am toughest on myself as far as justifying non-essential purchases. My first 4 years were tight-ish, but then I became very comfortable .. but I still don’t spend a lot & continue to save .. a lot goes to charity.

 

I spent my first 3 years as a caregiver, and simultaneously did research on moving to the shore. After I was on my own again, I spent almost another 3 years house-hunting, and on the moving process. I finally settled down in my new location about 6 years ago; I’m amazed that it’s gone so fast! I got involved in several organizations, and that’s kept me busy. I was secretary of a local political group for about 2 years shortly after I moved, treasurer of a local cultural group for 2 years, president of a county women’s club for 2 years, and recently started as secretary of a state-wide women’s group. I just finished the last of 6 courses for a certificate for non-profit management. When I look at my calendar for August, I have a “day at the races”, 2 lunches & a dinner out with one group, 2 gala fundraisers, 2 group picnics, 3 cultural performances where I’ll have dinner out with friends, 2 volunteer ½ days, plus my weekly work-out session. That’s a lot more than I got to do when I was working!

 


Registered on Online Community since 2007!
Report Inappropriate Content
Trusted Social Butterfly

Re: Career to Retirement: How Social Relationships & Life will affect you

2,877 Views
Message 7 of 8

     I early retired, at 55. I already knew that 'relationships' at work would be done once I left the working world. No surprise there.

 

    As far as budget planning, DW and I tracked out income and expenses, to the penny (yes, to the penny), for 3 years prior to retirement. We really worked hard at  extrapolating expenses such as car repairs, home repair, and were very conservative in projected expenses as well as projected income.  Also tried to estimate travel expenses that we expected to occur once we did retire and increased home maintenance expenses (I planned to do all those projects around the house that I had put off)..

  We sure didn't get the detail correct, but were conservative enough to get our overall expenses pretty close. But yes, we're spending more than anticipated.

   As far as activities, we pretty much planned those. We were planning on making a series of long trips once we left our jobs. We did travel, quite extensively, for 18 months. Then, less so but started working on the house in earnest. We continue to travel a fair amount, so we are always planning. But hey, we're retired. If plans don't quite work out, who cares?  


Just think. The world was built by the lowest bidder.
Report Inappropriate Content
Social Butterfly

Career to Retirement: How Social Relationships & Life will affect you

2,880 Views
Message 8 of 8

My husband & I just completed our 1st year of retirment and I'd like to post the not so obvious things we encountered.  Also looking for feedback on any of your experiences.

Co-workers / colleagues/ business relationships - For us this was a wake up call & realization that people we have worked with for X number of years & socialized with are among the first to disconnect from us.  I get it.  You may be retired, but they still have to wake up to the alarm clock, get dressed & be productive at work.  Have any of you visited your workplace after you retired?  How did it feel?  For me, it felt weird.  Co-workers I used to chat with, now could just take a few moments to talk with me before helping somebody else.  It felt like I no longer belonged there even though I worked there for years.  My supervisors wanted to know how retirement is but not ready to accept that I now have the freedom they wish they had.  Generally, the feeling is "Thank you for dropping by and saying hello, but we don't want to hear how joyful it is to be retired.  Especially, when my they have X number of years before they can retire.

Money - Again, it does feel weird to go from regular salary to living off fixed income or investments.  As much as you try to plan, we threw our planned budget in the garbage & had to start again & tweak & adjust as we went along.  We finally have a working retirement budget but it took us a full year to develop one.

Activities - again, what we THOUGHT we would do is out the window.  Funny, how before retirement you had Plan A down to a science, but once you're retired, you're on Plan B and that may become Plan C.  It begs the question - why bother planning at all?

So tell me folks, is it that life happens & you don't forsee changes in retirement or is it just us that we've had changes that we couldn't have planned for? 

Report Inappropriate Content