It is happening!

[Smallr]

Hello all:

I joined this community a few months ago and enjoy the camaraderie and insights many share on the board. Thanks for that.

I left my job at sorta-mega corp in April with a year of severance and benefits. Turn 60 in 2/19. Strong shape financially ($2.2MM non-retirement, $2.5MM IRA plus pension and deferred income of $100k+annually). Mortgage free, no debt. Feeling done with corporate world.

Questions for this community:

1. How do you fill your time? Suggestions for finding ways to use the brain and talents?
2. How are you tracking spending (we have pretty high burn rate but not too high to cause an issue)
3. If you could anything differently, what would it be?

Thanks in advance. I have a health care question I will post elsewhere.

[mpeirce]

Quote:

Originally Posted by Smallr Questions for this community: 1. How do you fill your time? Suggestions for finding ways to use the brain and talents?

Everyone has their own approach.

I care a whole lot less about using my "talents" that I used in my old career. I still dabble, but it's not really that import to me to keep up with the old business. That has taken time to kick in.

Quote:

2. How are you tracking spending (we have pretty high burn rate but not too high to cause an issue)

I keep it as simple as I can while still keeping on eye on things. For me, I have a "budget" that divides my yearly spending allocation into broad spending categories: various insurance, medical OOP, property taxes, travel. Then I have a "monthly spending" category where I take 45% of our spending and transfer 1/12th of it to our checking account each month. We pay for normal stuff out of that - various bills, food, etc. Oh, we also have a "reserve" category that varies from year to year, but that pays for lumpy items painting the house, a new computer, new car tires and so on.

This approach minimizes the amount of time and effort we have to spend in it.

It works for us.

[Cassius King]

Welcome aboard, congrats, and nice avatar!

[flintnational]

Welcome and congratulations!

[Milton]

Regarding “how do you fill your time?” If you are unsure about this, the following book will help generate a lot of ideas.

Quote:

Originally Posted by mpeirce I care a whole lot less about using my "talents" that I used in my old career. I still dabble, but it's not really that important to me to keep up with the old business.

+1. IMO, ER is an opportunity to learn and develop new skills. Anyone focused on their existing, work-related skill set is probably better off remaining in paid employment (where they will find such skills to be more appreciated, and certainly better rewarded, than in volunteering).

[OldShooter]

Quote:

Originally Posted by Smallr ... 1. How do you fill your time? Suggestions for finding ways to use the brain and talents? ...

There are tons of volunteer opportunities. For myself:

As a former manager and business owner I enjoy mentoring people in starting and running a business as a SCORE volunteer. https://www.score.org/volunteer

I teach an investing class in the adult-ed program of our local school district.

For about 10 years I flew and managed search & rescue activities with Civil Air Patrol

My first two weeks of November were spent volunteering at a Red Cross-run shelter for Hurricane Michael victims in Panama Beach FL. Had I been able to take the time I could have followed that immediately with deployment to the fire areas of California. Since getting involved with Red Cross I have been astonished at the range of local and national activities and the large number of volunteers that manage and execute them. https://www.redcross.org/volunteer/b...volunteer.html

(Having been a participant now, my conclusion is that the bad press that the RC gets is largely undeserved. For example, the week before I deployed to FL, NPR ran a story about a town where apparently an RC volunteer had promised to deliver 200 meals and the meals did not materialize. At the point where I deployed, the RC (with cooking assistance from Southern Baptists) had delivered over 400,000 meals to Hurricane Michael victims. No typo there -- almost a half million. NPR didn't mention this.)

Lots of other opportunities, too. I have a friend in his late 70s who is working for Americorps, tutoring in inner city schools. That gig actually pays a little, too.

If you end up sitting around, it won't be for lack of opportunities to do things.

[SumDay]

I also recommend this book: https://www.amazon.com/How-Retire-Ha...dp/096941949X/ It deals with the "what to do" issues. Also, I enjoy this blog: The Retirement Manifesto Blog as he deals with lots more than the financial side of FIRE.

I retired in August and am just enjoying doing whatever the h*ll I want. I haven't made any commitments to save the world, yet. But I may. Who knows?

Welcome to the board, and congratulations on your freedom! Looking forward to more posts from you.