Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 07-02-2008, 01:52 PM   #21
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,070
Hello Sarah,

Just because you don't need to work (good for you!) doesn't mean that you should retire. Broadly speaking, there's really only two good reasons why anyone should retire:

(1) you have other activities you'd like to spend your time enjoying, rather than working; or

(2) the psychological or physical stress of working is harming your health.

I don't know your situation, but your post doesn't seem to suggest that either of those reasons currently applies to you. If you are having difficulty even considering "letting go", then presumably you enjoy most aspects of your job (notwithstanding that you are "really tired"; perhaps all you need is a good vacation?). And you didn't say anything about "I can't wait to travel / volunteer / golf / sail / hike / spend more time with friends / etc.".

Financial independence is probably a good idea for everybody, but I don't believe that necessarily holds true of early retirement. Unless and until you're sure you're ready, take your time and don't burn any boats.

Regarding the possibility of depression: quite a few studies suggest that the more people plan ahead for their retirement, the easier and more successful the transition. The retirees who struggle tend to be those who gave no thought to how they would spend their time. Google "Successful Retirement" and you will find some resources that may help.
__________________

__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-05-2008, 09:52 AM   #22
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,511
Retirement was an adjustment unlike anything I'd ever experienced before. DW and I both started working in our early teens and didn't stop until retirement. The first year was like being on vacation since we moved immediately afterwards, the second year was a bit more difficult, adjusting to having lots of free time and nothing scheduled. And I did go through a period of depression - it's hard to let go of an identity one has held for almost 30 years, at least it was for me. But at the same time it was a relief because I could also let go of the responsibilities that went with it.

But then I thought "Why do I need to schedule anything?"

We have all the privileges of adulthood with almost none of the responsibilities. We have good health, a steady income, a paid-for roof over our heads, two vehicles, no debt, funds set aside for any reasonably foreseeable contingencies, a small boat to go fishing with or just a lazy day on the river, and the list goes on. We bought a couple of bicycles for rides (now if I can just talk DW into using them more) and enjoy that.

There can be some boredom when the weather is lousy but family and friends noticed within a year that we were both more relaxed than they'd ever seen us. We're not ones for lots of travel, preferring day trip type outings for the most part, and that works for us.

DW is very close to family and it's important to her to have lots of free time to spend with them. We recently discovered that her father has been living beyond his means and we're working on getting him into an environment that he can afford and where he won't have to have a car since his driving days are clearly numbered, so that's the "project" for now.

Retirement is a phase change, no question. But as one of my older relatives put it "When it's time to retire, you will know". I don't believe you'll need to ask anyone else.

Be grateful that the decision is voluntary and not dictated by health or economic issues at your place of employment as has happened to so many other people.
__________________

__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 07-05-2008, 03:35 PM   #23
Full time employment: Posting here.
 
Join Date: Apr 2008
Posts: 702
Hi Sarah,

Welcome to the Forum. You are the only one that can make the decision of when to leave. I still work a few morning a week and there are those weeks that I feel that I don't have time to work.

Good luck
__________________
FreeAtLast is offline   Reply With Quote
Old 07-05-2008, 04:50 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,434
Quote:
Originally Posted by SarahW View Post
Thanks for all the replies; I have a lot of reading to do!! Do/did any of you find retirement depressing at all? I'm worried about that "loss of usefulness" thing. (Sorry I sound like such a whiner; I didn't think a retirement decision would be so stressful.)
Depressing? Lord no. I had a lot more depressing days when I worked. Of course it helps to have a hobby or passion to keep you occupied. Golf 5 days a week for me. Maintain my yard and my Mother's yard. Take the mutt swimming and on hikes. Plenty to do.

If you retire and have absolutely no interest outside of work, you could be bored. Just be sure you have a few things lined up before you retire. You can always w*rk part time if you need that. Good luck with it all!
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Old 07-06-2008, 03:36 PM   #25
Full time employment: Posting here.
 
Join Date: Jul 2008
Posts: 619
I appreciate everyone taking the time to respond; as I expected there are many differing viewpoints!

Walt34, I'm thinking that it will be a a huge adjustment for me, too. Though I often yearn to hit the alarm clock with a mallet, I'm wondering if I'm really ready to throw in the towel.

Kevin92610--I understand exactly what you're saying about your wife; I'm in the same boat. It was a struggle to achieve a level of success in my career and I'm not sure exactly how to let go.

FreeatLast--yeah, I know ultimately I'm the only one who can say when I'm ready. It's just more difficult than I imagined.

Milton--you have nailed it. Right now there's nothing I can think of that I want to do that requires retirement. My greatest fear is that I will retire and once the "vacation" feeling is over, I won't know what to do with myself. I'm just feeling burned out and tired of things, but still a scaredy-cat when it comes to such a major life decision.

Again, I appreciate all who have responded. I will hang around and see if some of the retirement enthusiasm rubs off on me. I will stay out of the financial discussions because I am not financially savvy, and in fact don't plan to do anything with my company savings (largely stock) except spend the quarterly dividends. (gasp!) If I retire I will probably take a lump-sum pension distribution and roll that into some investments while living off my work-a-day hubby.
__________________
SarahW is offline   Reply With Quote
Old 07-06-2008, 07:00 PM   #26
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
Quote:
Originally Posted by SarahW View Post
My greatest fear is that I will retire and once the "vacation" feeling is over, I won't know what to do with myself. I'm just feeling burned out and tired of things, but still a scaredy-cat when it comes to such a major life decision.
So.....try out some new activities you have always wanted to do. Test drive them for retirement.

Quote:
Originally Posted by SarahW View Post
Again, I appreciate all who have responded. I will hang around and see if some of the retirement enthusiasm rubs off on me. I will stay out of the financial discussions because I am not financially savvy, and in fact don't plan to do anything with my company savings (largely stock) except spend the quarterly dividends. (gasp!) If I retire I will probably take a lump-sum pension distribution and roll that into some investments while living off my work-a-day hubby.
Whoa......if your investments are mainly in your company's stock, too many of your eggs may be in one basket. You owe it to yourself to become financially savvy. Nobody else can do it for you.
__________________
Meadbh is offline   Reply With Quote
Old 07-06-2008, 07:18 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Dont consider it retirement. Think of it as a sort of open ended unemployment/vacation/sabbatical combination.

After a while that funny business about retirement being synonymous with being old will sort of go away on its own.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Old 07-06-2008, 08:49 PM   #28
Full time employment: Posting here.
 
Join Date: Jul 2008
Posts: 619
Quote:
Originally Posted by Meadbh View Post
Whoa......if your investments are mainly in your company's stock, too many of your eggs may be in one basket. You owe it to yourself to become financially savvy. Nobody else can do it for you.
Yeah, yeah. I know. But it has served me very well for 26 years and I get very nice dividends. No plans to change. :nope:
__________________
SarahW is offline   Reply With Quote
Old 07-06-2008, 08:51 PM   #29
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,080
Lets hope you don't come down with a serious case of Enronitus...
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 07-06-2008, 08:59 PM   #30
Full time employment: Posting here.
 
Join Date: Jul 2008
Posts: 619
Hope not, but I'll take my chances.
__________________
SarahW is offline   Reply With Quote
Old 07-06-2008, 10:52 PM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Quote:
Originally Posted by SarahW View Post
Yeah, yeah. I know. But it has served me very well for 26 years and I get very nice dividends. No plans to change. :nope:
Served me well for many years as well. Until it dropped 80% and still hasnt recovered to within 65% of where I sold it.

For a long time I was selling my options every year and buying a broad range of asset classes and I was the village idiot since the stock kept going up. When the stock dropped, I instantly went from idiot to genius.

Concentration makes you rich. Diversification keeps you that way.
__________________

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
"Terminator: The Sarah Connor Chronicles -Thumbs Up or Down? Twinkle Toes Other topics 31 02-19-2008 08:21 PM

 

 
All times are GMT -6. The time now is 01:03 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.