Retirement Anxieties shared
- Thread starter atmsmshr
- Start date
The anxiety got better for me, although it took a long while. We significantly underspent the budget the first two years due to market anxiety and fear of early SOR failure. Sometime during the third year, the rising market and the realization that we wouldn't be healthy forever loosened the purse strings. We also got hit with some unexpected medical stuff. Now 4 years in, retirement is just regular life, in a very good way.
I think my mental readiness was helped by the fact that I grew up in a family of immigrants and entrepreneurs. To some degree, we're a family of hard w*rking, calculated risk-takers. I brought this approach to the corporate world, grounded in hard-nosed numbers. This continue to serve well in retirement.
I have occasionally thought about what my immigrant parents have accomplished here in the US, and wondered if I would ever do something so amazing. I'm blessed to have FIRE'd with DW, our own piece of the American Dream.
I think my mental readiness was helped by the fact that I grew up in a family of immigrants and entrepreneurs. To some degree, we're a family of hard w*rking, calculated risk-takers. I brought this approach to the corporate world, grounded in hard-nosed numbers. This continue to serve well in retirement.
I have occasionally thought about what my immigrant parents have accomplished here in the US, and wondered if I would ever do something so amazing. I'm blessed to have FIRE'd with DW, our own piece of the American Dream.
Last edited:
W2R
Moderator Emeritus
I guess the main anxiety that I had, was that I might fall through the cracks, might not be properly entered into the federal retirement system, and might just be forgotten - - and thus somehow not get my mini-pension, equal monthly TSP (~401K) payments, last paycheck payments, or health benefits in retirement, and would then have to deal with the biggest bureaucracy I know of (my former employer, the US federal government) to fix that.
I had zero proof that I was a retired federal employee, since my agency does not provide retired fed employee ID cards. Since I worked at a secure location (and had to turn in my badge), I knew I couldn't just spontaneously show up at my workplace and waltz in there to deal with that type of thing. I got as many relevant phone numbers assembled as I could to prepare for the possibility of falling through the cracks, and kept them in a file at home. And waited. And waited, and waited for what seemed like an eternity. Nobody could even give me an estimate of how long any of this should take.But then, on the 78th day after I retired, the last of the expected deposits had appeared in my bank account. A month later I saw that my monthly deposits were continuing, so at last I could relax; I knew everything would be fine.
End of retirement anxiety! On with retirement FUN....
It's been such a wonderful adventure, best time in my life. Hermit
Thinks s/he gets paid by the post
I have one more hurdle early next year that causes worry. I will turn 70 and move from the late DW's social security account to my own. That will be a major portion of my retirement funding so I hope it all goes smoothly.I guess the main anxiety that I had, was that I might fall through the cracks, might not be properly entered into the federal retirement system, and might just be forgotten - - and thus somehow not get my mini-pension, equal monthly TSP (~401K) payments, last paycheck payments, or health benefits in retirement, and would then have to deal with the biggest bureaucracy I know of (my former employer, the US federal government) to fix that.
But then, on the 78th day after I retired, the last of the expected deposits had appeared in my bank account. A month later I saw that my monthly deposits were continuing, so at last I could relax; I knew everything would be fine.
End of retirement anxiety! On with retirement FUN....
atmsmshr, this is off topic, but I am guessing that you worked at the FPL nuke plant on hutchinson island? My family and I used to go to hutchinson in the 60s. We would drive along a few miles and pull over and spend the day on the beach. There was no sign of any humans or buildings as far as you could see in any direction, and we would go all day long without seeing another person. I suspect it is not like that anymore!!!
bmcgonig
Thinks s/he gets paid by the post
- Joined
- Aug 31, 2009
- Messages
- 1,580
Good news that at 60 your PSA normal range is 0..4.5 [emoji16]
Amethyst
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Dec 21, 2008
- Messages
- 12,677
Those luxuries are nice...but if you didn't see people around you doing them, would you want them and regret not being able to get them? Or is it mostly a matter of envying what you see? Not talking about necessary things like home repair, but the fancy party you described, vacations, costly (and mostly unnecessary) renovations etc.
Because you can decide not to "see" it, or even to move away from it.
We moved to where we are basically the "poor" people among wealthy retirees, and couldn't care less. Our house is the smallest and plainest in the neighborhood, and the farthest from the ocean (which we wanted to be, anyway - no mandatory flood insurance). Yet, we are already garnering respect by doing repairs and yardwork that the previous owners had neglected. We have enough $$ for that, but not to put in a whole new kitchen, as some probably expect.
Because you can decide not to "see" it, or even to move away from it.
We moved to where we are basically the "poor" people among wealthy retirees, and couldn't care less. Our house is the smallest and plainest in the neighborhood, and the farthest from the ocean (which we wanted to be, anyway - no mandatory flood insurance). Yet, we are already garnering respect by doing repairs and yardwork that the previous owners had neglected. We have enough $$ for that, but not to put in a whole new kitchen, as some probably expect.
24601NoMore
Thinks s/he gets paid by the post
- Joined
- Dec 8, 2015
- Messages
- 1,166
The biggest thing for us is that our house is approaching 20 years old, and things that will be fairly expensive to repair are starting to go kaput..so, we're looking at some big (roof - $15K+..floor repairs [flood] - $5K+, potential new driveway as current drive is cracked and sinking in spots - $15K+) repairs. Plus, we never intended to stay here as long as we have and are desperately looking to downsize into our 'retirement home' as current house is essentially a McMansion in an M-HCOL area, and it's pretty expensive on recurring costs (all in, $20K+/yr in property taxes, insurance, utilities and ongoing house-related costs). So, while we do have a plan that pays the bills, those repair expenses are like a cannonball or two hitting the broadside of the SS Early Retirement..
The other thing is that our house is pretty basic compared to those around us..graduation-party neighbor's house is crazy nice (he's a builder, which helps - probably got everything at 40% less than I could get it for), as are most of the others on our block. Ours is nice from the outside, but we never put huge $$ into the inside - unlike many of the neighbors have. (Of course, I also wonder how able to retire any of them will be and if they are essentially just living paycheck to paycheck, or close to it..) Soooo, when we go to sell this albatross, we're going to have a hard time meeting buyer's expectations for the neighborhood and are going to be competing with other for-sale houses that are much 'nicer' than ours..plus, we bought at market peak and every house in the sub today is selling for FAR less than anyone paid for it..I'm going to take a very heavy financial hit when we DO sell it..so, having a big chunk of $$ to put back into it now (at least finish the basement, for example), would make it more competitive..
So, no - we don't care about keeping up with the neighbors..but we do need to do things that are pretty costly just to keep the house competitive and reasonably well put together for when we do put it on the market..
Big life lesson in hindsight..even if you can afford it, buying more house than you "need" can be a huge mistake. (We thought we were buying as an "investment"..whoo boy, did that turn out to not be the case, as house has gone DOWN - not UP - in value..) The costs go on forever..and ever..if there was one thing I could do differently pre-ER, it would have been being in our retirement house BEFORE I ER'd. We tried hard to do that, but have not been able to find what we are looking for in many years of looking (lots of land..privacy..much smaller but still "nice" house. Like looking for a purple unicorn - that doesn't exist around here, and DW wants to stay in the area and near her big family)..
Last edited:
Lawrencewendall
Full time employment: Posting here.
Today was my last paycheck. Stepping off into the great unknown!
Topics like cybersecurity and keeping yourself from being hacked and using credit cards with fraud protection are not retirement-specific issues; they are issues every adult who transacts, has a computer and/or smartphone, pays with credit or ATM card, needs to deal with regardless of whether they are working or not working. It's not related to age or being able to retire.
Don't let those items be something that gets added to the to-do list before one can retire. They are unrelated. Important, yes, but unrelated to being able to retire.
Keep it simple.
You can retire when you have amassed enough in your savings/investments + any pension + expected social security to fully cover your expenses over a 30 or more yr time span, while staying invested with an allocation between 40% or more, on average.
Worried you won't have enough? Don't retire until you do have enough. Think you need a bigger cushion? List out every big expenditure you think you'll need/want to cover. Include things like trips, eating out at expensive restaurants x number of days a month, a house remodel, purchase of future vehicles, a boat, whatever it is you want to have and decide you can't be without. Add that into the nest egg total needed before pulling the plug and retiring.
Don't let those items be something that gets added to the to-do list before one can retire. They are unrelated. Important, yes, but unrelated to being able to retire.
Keep it simple.
You can retire when you have amassed enough in your savings/investments + any pension + expected social security to fully cover your expenses over a 30 or more yr time span, while staying invested with an allocation between 40% or more, on average.
Worried you won't have enough? Don't retire until you do have enough. Think you need a bigger cushion? List out every big expenditure you think you'll need/want to cover. Include things like trips, eating out at expensive restaurants x number of days a month, a house remodel, purchase of future vehicles, a boat, whatever it is you want to have and decide you can't be without. Add that into the nest egg total needed before pulling the plug and retiring.
Last edited:
RunningBum
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 18, 2007
- Messages
- 13,238
If it's a gmail login, you could use the + trick. first.lastname+random@gmail.com will still come to your first.lastname gmail account, and presumably someone would have to type in first.lastname+random instead of first.lastname to get your login ID correct. I haven't tried this myself.
W2R
Moderator Emeritus
Good luck! I think it usually goes pretty smoothly but it's always a relief when you see the new, larger monthly deposit hitting the bank.
W2R
Moderator Emeritus
Today was my last paycheck. Stepping off into the great unknown!
YAY!!! And now, the BEST part of life begins. Or at least, that is the way I feel about my retirement. Nobody bossing me around any more except ME.
Naps, doing what I want with my time, having fun... it's a great life.
Amethyst
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Dec 21, 2008
- Messages
- 12,677
OK, the references to the party and so on threw me off. Who knows if your neighbors are living on the edge, or have all received nice inheritances? Doesn't matter to you one way or the other, unless of course a neighbor ends up in foreclosure, bringing down everyone's property values.
Home repairs sure are a big bite, as is the ability to upgrade your current house to the standards which will allow you to sell in your particular market. Notice I said "allow you to sell," not get as much as your neighbors would get. Have you talked to some real estate agents to get a good idea of the upgrades you really need, and how much your home may sell for if you make those? Some realtors are more straightforward than others, so look for those who strike you as particularly analytical...they usually come up with the [-]lowest [/-]most realistic price Then build those costs into your pre-ER budget, bite the bullet, and do the things.
Good luck! Whatever you do, wipe the word "desperately" from your vocabulary, as everyone in the real estate world can smell desperation from the next county.
Home repairs sure are a big bite, as is the ability to upgrade your current house to the standards which will allow you to sell in your particular market. Notice I said "allow you to sell," not get as much as your neighbors would get. Have you talked to some real estate agents to get a good idea of the upgrades you really need, and how much your home may sell for if you make those? Some realtors are more straightforward than others, so look for those who strike you as particularly analytical...they usually come up with the [-]lowest [/-]most realistic price
Then build those costs into your pre-ER budget, bite the bullet, and do the things. Good luck! Whatever you do, wipe the word "desperately" from your vocabulary, as everyone in the real estate world can smell desperation from the next county.
OP
OP
atmsmshr
Full time employment: Posting here.
Spot on observation for past and present! It's astounding to see the population and prosperity growth in the 33 years I have lived in the area.
OP
OP
atmsmshr
Full time employment: Posting here.
Finally made the jump to FIRE
After 40 years in nuclear power, from 18 to 58, I am finally done smashing atoms. It was a career that has defined me and was part of my entire adult life.
An industry that had been a promising carbon free and inexpensive alternative to electrical power (not without controversy) is now in permanent decline in the USA. This is a pattern of economic forces so familiar to other industries. Very fortunate to have a career arc that spanned its zenith; providing me with intellectual challenge and my family with great benefits.
My abilities had peaked and I knew it, but did not let on. Memory not as sharp, stamina was waning, and stress was increasing. I had been the oldest manager for awhile - the previous majority burning out rather than retiring. My legacy knowledge was great for the position held, but mortality kept knocking at my thoughts. Following my internal decision to retire, I have lost 30 lbs since 1 April - the decision to become FIRE was such a relief.
My official retirement date is 1 August, but a large reserve of vacation got me leaving earlier. On Thursday I walked out for the last time from the security heavy and barbed wire fence line. My department had thrown a pot luck breakfast and then a lunch. The management team had a nice cake to say goodbye. Spent a day shaking hands and reminiscing. As expected, it was bittersweet- I will miss the people and challenges of problem solving but not the stress.
Now I have traded an office and 33 years at one power plant......
For the beach and unknown adventures with DW.
Atom
After 40 years in nuclear power, from 18 to 58, I am finally done smashing atoms. It was a career that has defined me and was part of my entire adult life.
An industry that had been a promising carbon free and inexpensive alternative to electrical power (not without controversy) is now in permanent decline in the USA. This is a pattern of economic forces so familiar to other industries. Very fortunate to have a career arc that spanned its zenith; providing me with intellectual challenge and my family with great benefits.
My abilities had peaked and I knew it, but did not let on. Memory not as sharp, stamina was waning, and stress was increasing. I had been the oldest manager for awhile - the previous majority burning out rather than retiring. My legacy knowledge was great for the position held, but mortality kept knocking at my thoughts. Following my internal decision to retire, I have lost 30 lbs since 1 April - the decision to become FIRE was such a relief.
My official retirement date is 1 August, but a large reserve of vacation got me leaving earlier. On Thursday I walked out for the last time from the security heavy and barbed wire fence line. My department had thrown a pot luck breakfast and then a lunch. The management team had a nice cake to say goodbye. Spent a day shaking hands and reminiscing. As expected, it was bittersweet- I will miss the people and challenges of problem solving but not the stress.
Now I have traded an office and 33 years at one power plant......
For the beach and unknown adventures with DW.
Atom
Attachments
Tiger8693
Full time employment: Posting here.
For Cyber security, I have heard using VPN's when you are out and about protects traffic by encryption. Is this false advertising?
Congratulations! Welcome to the retirement club! It will be an adjustment, but the stress reduction is wonderful!
Ronstar
Moderator Emeritus
Congrats, Atom!
It is not false advertising. A VPN can be used at all times, even when home. I use NordVPN (subscription) and it's easy peasy. I use mine 99% of the time. There are some sites (like my bank) where my VPN won't work but most of the time it works great.
jimbee
Thinks s/he gets paid by the post
- Joined
- Oct 11, 2010
- Messages
- 1,227
Congratulations atmsmshr! Which plant did you work at? I was at Kewaunee Nuclear from '82 to '96. I still know a few people working nukes, but most have been retiring, sometimes by choice and sometimes forced out
Unpaintedhuffhines
Recycles dryer sheets
- Joined
- Jan 14, 2013
- Messages
- 314
Spot on of course. Essentially think of it as a private tunnel to your destination. it's far more difficult for the bad guys to see what you're doing and steal information.
It is fairly easy to do, but the majority of people won't. They don't want to sign up for a recurring bill and also deal with the one off sites that don't work (as you state). But, yes, much more secure!
