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Re: Retirees Biggest Regrets?

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Message 11 of 38

I must say that is all fine and dandy but you are lucky that you could afford to save up for retirement.

 

As a single mom with a disabled son it's impossible without a college education to not live paycheck to paycheck.  Even having a college education doesn't guarantee you won't live paycheck to paycheck now days.  Thank goodness I went to technical school in my 30's.

 

Unfortunately my father told me over and over that the boys go to college and women stay home and have kids.  I was so young at the time I believed him.  One thing I know for sure, never depend upon a man to take care of his family.  You must do it yourself.  You never know what can happen, medical bills can destroy your financial well being.

 

Yes, of course I wish I had money to invest when I was younger but my children needed to eat and my son needed medical care.   My 401K really is not close to what a person needs now days for a person to retire.  

 

Luckily I love being a mom and I love my job.  I am semi retired. I work 

part time and I will have to for the rest of my life.  I have always felt I had everything I needed.  It's been worth it.  No regrets.  I have 4 grown children.  They have college educations, successful jobs and My daughter is a doctor.  Now I just have to pray my health holds out.....

 

 

 

 

 

 

 

 

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Re: Retirees Biggest Regrets?

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Message 12 of 38

I wish I had understood the financial aspect of retirement and saved more  I was clueless because I never heard people talking about retirement when I was young.  Thankfully, they are talking about it now and I hope today's young people are listening.

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Re: Retirees Biggest Regrets?

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Message 13 of 38

I see that a lot of the posts deal with financial concerns. 

If you have that part in good order, and a nice place to live.. then two big concerns are taken care of.

As for us, we are grateful that those topics are well addressed. We were able to sell a previous home on the high point of the real estate 'boom' where we lived and buy a much more modest home and stash away the balance with a very forward looking investment firm... HEnce... no money worries.

 

Here's my 'advice' to new retirees:

First, don't accept the label 'retired'!   That seems to have a stigma attached to it---the rocking chair on the porch--total inactivity--blah blah blah.   That is FAR from the reality!

Second, DO NOT do anything for the first few months--maybe up to three---Sleep in, watch the tv shows you've missed or have not seen, stay up late, sleep in late, have leisure breakfasts, eat when you are hungry, maybe even nap!

We've discovered we both are busier at least as much as we were when we were working, but NOW we are doing what we want, WHEN we want.  My wife has found great satisfaction in sort of returning to the educational world (She was a teacher), but now helps as a volunteer with a nearby ESL class for adults. She became a member of two boards--one a non-profit organization, the other a beloved family camp where she is now chairman of that board. 

As for me, I have discovered woodworking as a pleasant past time/diversion. Often building items for our daughters who design what they need.  My former profession (professional photographer), occasionally comes to use, but only for what I WANT to do.  

I also maintain as small amateur/ham radio setup--great for the colder winter months as a diversion.

I have discovered our city library has the largest genealogy department in the midwest, so I've been delving into family history--hoping to share with our children.  It's a big project but the folks at the library are terrific at helping!

We are fortunate that our library system is impresively extensive and one can even borrow books online (Dropping directly into my Kindle! for three weeks!)

The library also has a very up-to-date collection of dvds so we rarely miss any new movies!

 

Finally, in an effort to find another diversion, I joined the local chapter of Rotary INternational. I find the organization has high motives, and supports needy charities as well as giving out scholarships to kids in need. (Last year we gave out over $30k in scholarships!)  The Rotary group in our area meets weekly for lunch, has a speaker on some topic of general interest, and is very socially oriented, warm, friendly, and very interested in raising funds for needy causes. It is a group I feel has the motives and causes I can support.  There is no networking, no political or religious conversation--simply good fellowship and constructive conversation. I strongly suggest investigating if you are interested--and Rotary can be easily researched online.

 

Retirement is a better time than working!  Oh, and you can travel as the 'spirit' moves you--recently we've been to Paris, and Mexico (two times!)

It's time to spread your wings!

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Re: Retirees Biggest Regrets?

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Message 14 of 38
I am still working part time at 66 because I too think I am too young to retire. I like the extra money and do not need to touch my retirement funds yet. That is important to me. Also I need a few more years to think about what I really want to do in retirement. I am active in my church and am looking into what our local senior center has to offer. They were a big help with Medicare and I know they have classes there.
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Re: Retirees Biggest Regrets?

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Message 15 of 38

None.  We planned finances reasonably and they've worked out.  Re boredom, if you were always busy you will always be busy.  Travel until you are forced to stop for, e.g., health reasons.  Then travel casually.  It's the best education around.  Move your home, stay 10-20 yrs and then move again.  Nothing says you have to stay put; and this keeps your clutter to a minimum.  Keep up with friends via letter or electronically, and visit them all for a day during your travels.  Keep your brain active, and exercise.  It's a good life, enjoy.

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Re: Retirees Biggest Regrets?

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Message 16 of 38

Regrets... yeah, some, but not many.

Now, am age 83, married 60 years,and retired for 30 years.... with not a whole lot of money.  I do post on a retirement website, and have a thread that started 7 years ago, covering our retirement years.  Instead of trying to recap what's on the thread, I'll give a link... While it goes to my thread, the webite is early-retirement.org.  Haven't looked lately, but the thread has over 100K reads. 

A wonderful life, and while we didn't expect to lif past age 75, are going strong now at 83.  Still ok with the money, and would recommend early retirement, for anyone willing to LBYM (live below your means). 

 

http://www.early-retirement.org/forums/f27/sharing-23-years-of-frugal-retirement-62251.html

Best wishes...

bob

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Re: Retirees Biggest Regrets?

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Message 17 of 38

My regret is that I did not manage my finances. When you're young, you really don't give much thought to retiring. As I drew closer to retirement age; I became more aware of the possibilty to do so.

 

I worked long hours for overtime to save as much money as I could. I didn't retire with as much as I could have but; I was able to pay-off debts and retired at age 59 debt free!

 

I wanted to by a fancy sports car to celebrate but, I didn't retire to get back in debt. Stay debt free if you can...that's true freedom! 

 

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Re: Retirees Biggest Regrets?

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Message 18 of 38

To: @FredSmif

I am yet in the thick of things--working every day.  So I have not yet retired.  But I just wanted thank you for this is a great topic.  The answers are so diverse and informative.  Great topic and great feedback.  Thanks to all.

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Re: Retirees Biggest Regrets?

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Message 19 of 38

You’ll discover that it is real easy and convenient to put things off until "tomorrow".  It’s wonderful!

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Re: Retirees Biggest Regrets?

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Message 20 of 38

Thank you for your encouragement.  My wife agrees with you.  We have gone on trips to Florence, Siena, Amsterdam and will be going to Rome in May.  In the summer we go to Alumni College where I went to Law School, and stay for a week or two taking classes.  The professors teaching the classes usually go on the trips with us.  Every summer we look forward to returning and seeing our new friends.  I prefer going with a well organized tour group, fewer decisions to make and the comfort of being with subject experts.  The airports and time in the air are the only downsides.

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