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For the retired folks
Old 10-14-2014, 10:59 PM   #1
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For the retired folks

I plan to retire next year, and spend lots of time going over our expenses, income, and worrying about what ifs. Firecalc and other calculators show 100% success. Our health care is very reasonable through my husband's pension plan and we are debt free. I still wake up worrying about it, maybe because my mom got Alzheimer's, which caused my parents to run out of money at the end.

So my question is once you retire for awhile, does this excessive worry about finances all the time go away? I sure would hope to relax once I can see our plan working.


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Old 10-14-2014, 11:26 PM   #2
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So my question is once you retire for awhile, does this excessive worry about finances all the time go away? I sure would hope to relax once I can see our plan working.
It took about two years for us to relax financially speaking. We saw our plan was working and it continues to do so as we're in our 6th year of retirement.

For me, the worry more than likely will never go away completely. Who knows what tomorrow will bring....

Is it worth it to retire early even though you may worry some....you bet.
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Old 10-14-2014, 11:31 PM   #3
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So my question is once you retire for awhile, does this excessive worry about finances all the time go away? I sure would hope to relax once I can see our plan working.
Yes it does, at least in my case. I embarked on an all of a sudden Early-ER experiment 12+ years ago. Later in the depths of the ~2008 crash, I was calm. By that point, I had already figured I had made it, would be OK.

More worrisome was at the very beginning, the market stunk, and I was plugging in proposed double-digit losses and wondering how many years like that I needed to put into the spreadsheet. And looking way in the future to SS at 62, and thinking I could breathe easy when I could get to there. As 2003 progressed, and the market recovered, things were looking a lot better. Now I'm planning a SS file and suspend after my FRA, and file at 70! What a difference those years have made.

Last kid done with college and out on their own was another positive milepost. Our expenses really declined!
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Old 10-14-2014, 11:34 PM   #4
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I plan to retire next year, and spend lots of time going over our expenses, income, and worrying about what ifs. Firecalc and other calculators show 100% success. Our health care is very reasonable through my husband's pension plan and we are debt free. I still wake up worrying about it, maybe because my mom got Alzheimer's, which caused my parents to run out of money at the end.

So my question is once you retire for awhile, does this excessive worry about finances all the time go away? I sure would hope to relax once I can see our plan working.
I don't worry about it excessively any more, although I continue to keep close track of how my portfolio is doing and of how much I am spending. I never lose any sleep over my retirement finances any more.

Seeing your plan working for a couple of years does help, I agree. Also, I feel like I sort transitioned from the planning retirement phase, to the living and enjoying retirement phase.
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Old 10-15-2014, 10:54 AM   #5
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Part of that worry, IMHO, is the adjustment from being a saver to a spender. In my case, I am now comfortable with spending up to my yearly withdrawal limit for three reasons:

1. I know my spending is part of a well thought out plan (Most important!)

2. I have put away enough money in cash equivalents that I can ride out a down market for several years. ( I call this 'sleepy time' money because it lets me sleep well at night.)

3. Predicting the future is very difficult. My crystals ball is cracked, my time machine is broken and I can't read minds. Time is more valuable than money, so I am not going to waste it on things that might happen. I prepare for them as best I can, and then enjoy life.
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Old 10-15-2014, 11:42 AM   #6
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Thanks for your responses. I do think part of it is the idea of changing from saving to spending. I think I need to quit worrying quite so much!
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Old 10-15-2014, 11:47 AM   #7
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Part of that worry, IMHO, is the adjustment from being a saver to a spender. In my case, I am now comfortable with spending up to my yearly withdrawal limit for three reasons:

1. I know my spending is part of a well thought out plan (Most important!)

2. I have put away enough money in cash equivalents that I can ride out a down market for several years. ( I call this 'sleepy time' money because it lets me sleep well at night.)

3. Predicting the future is very difficult. My crystals ball is cracked, my time machine is broken and I can't read minds. Time is more valuable than money, so I am not going to waste it on things that might happen. I prepare for them as best I can, and then enjoy life.
I think this is very good advice. I am not quite at retirement yet, think about it all the time though. Having a plan with some contingency is an important part of the process.
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Old 10-15-2014, 11:07 PM   #8
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I have contingency plans that have contingency plans.... I think I need to stop overthinking everything!


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Old 10-16-2014, 09:43 PM   #9
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Thanks for your responses. I do think part of it is the idea of changing from saving to spending. I think I need to quit worrying quite so much!

I still worry some after almost 5 years. Mostly because I am pension dependent, though I have more money now than I did 5 years ago. And for me, my pension is safer than being dependent on a job. I didn't worry when I was working, so it must be because I have too much time on my hands....


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Old 10-17-2014, 12:20 AM   #10
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My wife is still working so I am not exactly in the same situation, but I have found the incredible series of misfortunes that have befallen us almost immediately since I stopped making any money very disturbing. It began with my wife needing an expensive root canal, then a broken tooth, then I needed a root canal, then stitches, a broken dryer, a frozen pipe needing wall tear out and plumbing redo, a messed up sink and faucet, death of a dishwasher, replace car timing belt, roof repair, printer malfunction and now to continue--in less than a year--the dryer again! I may have missed a few others. It has been almost non stop.


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Old 10-17-2014, 08:10 AM   #11
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...So my question is once you retire for awhile, does this excessive worry about finances all the time go away? ...
Yes, like with all changes, once you retire and the sky doesn't fall down on you the discomfort decays. Change is hard.
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Old 10-17-2014, 08:46 AM   #12
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I quit smoking cigarettes 14 months ago... retired 10.5 months ago... a couple of times a day I crave a cigarette and a couple of times a day I worry about the future financially... both feelings do not last very long at all. You'll be just fine..
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Old 10-17-2014, 09:19 AM   #13
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I quit smoking cigarettes 14 months ago... retired 10.5 months ago... a couple of times a day I crave a cigarette and a couple of times a day I worry about the future financially... both feelings do not last very long at all. You'll be just fine..

Congratulations on quitting smoking! I quit 30 years ago and I know how difficult it is. That is a good analogy. Once I see we are fine, I'm sure the worry will be less.


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Old 10-17-2014, 09:43 AM   #14
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I don't know that we ever actually worried, because retirement began when I contracted cancer, and didn't want to burden my DW with the expense and debt of my growing self employed business. It was a chance... not quite enough to retire, but no way to continue the business expansion.
So, retirement began with the idea that one or both of us would have to go back to w*rk at some point. It wasn't a worry though, more like a trial balloon.

Luck or good stewardship, we began retirement as an extended vacation... and now, 25 years later, happy as clams in Narragansett Bay.

Oh... and BTW... RE: Alzheimers... we're in the same boat, but figure that if it happens, we won't care anyway.
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Old 10-17-2014, 11:28 AM   #15
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I think some of us just are going to be worriers. I am. Kind of get a kick out of it.

Yesterday we got a new double oven installed. DW was worried and fearful about trying out the thing. Then she made a simple dinner and broiled some pork chops. They tasted great and she thinks the chops cooked much better then with the old oven. End of worries.
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Old 10-17-2014, 11:50 AM   #16
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I never worried much, and after more than 3 years I worry even less.

I should leave it at that...however, I am sure the next big correction (not this latest 10% blip) will increase my worry quotient at least temporarily.

It is comforting to read about those here who retired before the 2008 meltdown/GFC, and did just fine by NOT panicking.

'There's no situation that can't be made (much) worse by panicking.'
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Old 10-17-2014, 02:48 PM   #17
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I never worried much, and after more than 3 years I worry even less.

I should leave it at that...however, I am sure the next big correction (not this latest 10% blip) will increase my worry quotient at least temporarily.

It is comforting to read about those here who retired before the 2008 meltdown/GFC, and did just fine by NOT panicking.

'There's no situation that can't be made (much) worse by panicking.'
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Old 10-17-2014, 02:56 PM   #18
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... So my question is once you retire for awhile, does this excessive worry about finances all the time go away? I sure would hope to relax once I can see our plan working...
Worry about finances? When I was diagnosed with a life threatening disease, and laying there in a hospital room in pain after multiple surgeries, did I think about finances?

And now, after getting a new lease on life, do I worry about finances?

I still spend time to look after our finances, but can't afford the time to worry about it. Life's too short.
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Old 10-17-2014, 03:58 PM   #19
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I've only been RE'd now for four and a half months, and while I still wonder about it, I don't worry about it.

In fact, I'm kind of amazed at how little I've found myself spending while still having a great time - I budgeted for almost three times what I'm currently spending and now I'm wondering what the heck I thought I was going to spend all that money on.
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Old 10-17-2014, 05:29 PM   #20
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I quit smoking cigarettes 14 months ago... retired 10.5 months ago... a couple of times a day I crave a cigarette and a couple of times a day I worry about the future financially... both feelings do not last very long at all. You'll be just fine..
I quit smoking (for the final time) almost 30 years ago and I retired about 2 & 1/2 years ago. I still want a cigarette on occasions, usually when I'm around someone else who is smoking. However, it's nothing like the first six months after quitting.

Financially, I was worried if I was really ready to retire when I did. But after years of the OMY syndrome, and still asking the same questions, I finally took the plunge. My worries disappeared very quickly once I retired. (What a relief) Now, I don't even think about not having enough. YMMV
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