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Re: Retirees Biggest Regrets?

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Message 31 of 38

Amen 

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Re: Retirees Biggest Regrets?

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Message 32 of 38

I know I  took ’early retirement’ waaay too soon  (55).  Thought I  would have so much fun stuff to do.  Really was bored most of the time.  Needed to find a part time job to supplement my benefits after all.  Big mistake retiring too soon.  

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Re: Retirees Biggest Regrets?

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Message 33 of 38

I worked 2 jobs most of my career or always had a side business going. It kept me busy and provided for a comfortable family life.

 

A few years before a planned retirement from my regular job, I started looking for something I could continue after retirement.  I found my niche - teaching online for Universities. By using my years of executive management and business experience, along with background degrees - I was able to secure jobs with a couple of Universities. It's a perfect solution for me - I can work from anywhere, anytime and it keeps me sharp keeping up with inquisitive students! I will continue to teach until the schools don't need my services.

 

Regrets are few - I think maybe travel is one. We traveled the U.S. but never got overseas. The other is hobbies. Working 2 jobs, I never played golf, fished or developed a passion for a hobby.

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Re: Retirees Biggest Regrets?

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Message 34 of 38

Well done. Way to take charge of your life

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Re: Retirees Biggest Regrets?

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Message 35 of 38

My biggest regret is that I could not do it sooner!

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Re: Retirees Biggest Regrets?

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Message 36 of 38

Thank you RetiredTraveler for your comments and insight.

 

I suppose what I'm looking for has been influenced by popular culture and literature. Both of which ignore the reality of day-to-day living and the struggle to pay bills and survive.

 

Like you, I've never depended on others and I ended my career being in a pretty comfortable position. Analysis of personal finances has long been a sort of hobby of mine and continues to be so.

 

Thus my own regrets have little to do with finances. Yes, perhaps I frittered away too much money in my early 20's. Yes, perhaps I should have started saving for retirement sooner than I did (although I did start with my first job post-university...I went back to school late and graduated when I was 30). But on the whole I never "over bought" on cars and houses and things. Actually, going to university taught me the joys of delayed gratification and took me to a different level of consumer interests (one probably less demanding of dollars).

 

So my own regrets now consist of:

 

almost. almost. but not quite. think I should have gone into the military when I was young. Perhaps my life would have turned out happier, although perhaps that road would have led to a post-military career that wouldn't have been as good as my reality. But I remind myself that the "me" of then probably would have been one of those guys who fragged their officer in Viet Nam. Or been fragged myself.

 

I wish I had done more traveling when I was younger (from 20's through retirement day). When I was single (married at 45) I traveled minimally in the US. This was due to (a) perceived issues due to a health condition, (2) not having anyone to travel with...thinking that this had to be so, and (3) perceived unaffordability.

 

I suppose it's that last one (traveling) that nags at me most. Since I've been married we've done a lot of traveling including to exotic foreign lands. But the far bulk of the travelling involved "family visits" with my wife's family, not quite the adventure lifestyle that I think of. Of course, being a working person limited to 2 weeks per year, then 3 weeks, then ending my career at 4 weeks (if I'd worked another year it should have been 5...or maybe it was 5 at the end, I don't recall)...in any case, being so limited in time off really restricts ones ability to visit family as well as to see the far flung world. (again, that reality thing creeps in)

 

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Re: Retirees Biggest Regrets?

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Message 37 of 38

"...But instead pretty much all remarks were related to the present day lives of these 10 retirees, how they set up finances, etc. Not quite the well-font of humane advice I was expecting (hoping) for....".

 

That's because the large percentage of remarks made have to do with failure to plan over the decades and once you're in your 60's and 'discover' you have no ability to retire, it's too late. There is no point in sugar-coating the reality that if you did not save money, and you're now facing retirement trying to live on a small pension and/or SS, life is going to be difficult. 

   I was able to retire at 56, without a pension or healthcare, and fund everything, because I started planning in my 20's. DW and I lived below our means, spend thousands of hours over the decades reading, listening, talking to people, reading investment info at the library, planning with ourselves, about saving/investing/retiring. We have a country, it would appear a majority, of people who can't balance a checkbook, don't understand compound interest, can't set up a budget, don't know the difference between a stock and a bond (much less understand markets at all), and worse, don't really care until they are in their 50's and suddenly wake up to reality. We boomers lived through the great economic expansion in history and you only needed to be informed to take advantage.

  The only advice I can give is to young people. Start saving and investing, as much as you can, right now.

   Example: You can use online calculators to see what you can save. For example, if you saved $100 a month for 40 years, at 5% return, in 40 years you would have $153,000+.


"...Why is everyone a victim? Take personal responsibility for your life..."
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Retirees Biggest Regrets?

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Message 38 of 38

So, I read through this click-bait slide show the other day "10 Retirees Share Their Biggest Regrets". From US News, used to be a great news magazine in print. I was expecting (hoping) to find useful advice for me so that I don't end up on my death bed with a lot of regrets (hey, I'm sure I will anyway). Advice about love, family, friends, traveling, adventure, follow your dreams, etc. 

But instead pretty much all remarks were related to the present day lives of these 10 retirees, how they set up finances, etc. Not quite the well-font of humane advice I was expecting (hoping) for.

 

Article is here:

https://money.usnews.com/money/retirement/baby-boomers/slideshows/10-retirees-share-their-biggest-re...

 

How about y'all? Any words of advice for younger (newer) retirees? Regrets? Wisdom? Ideas on what you would have done differently in life? Things you can change now?

(hmmm, that is getting pretty deep, isn't it? I'll have to mull this over and post my own reply)

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