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Old 07-16-2016, 02:46 PM   #21
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Since we didn't "plan" for our retirement (serious illness, at the time, but with full recovery) no preparation per se... but recovery time was spent, creating literally dozens of large green spreadsheet, listing every conceivable situation for where we would (could, at the time) live, and what kind of lifestyle we wished for or might be able to afford.

Erring on the side of long term financial safety, we carved a possible pathway of frugality, but always with the hope of not having to return to the working world.
As a major consideration, even then, healthcare was a major concern (age 53, and with no company plan).

We planned possible details, different inflation rates, buying cars, major unforseen expense reserve plans, and varying life expectancies. Three months of working out different plans, with lots of homework in between. All of this because we didn't trust the Financial Advisor that we tried , who insisted that we needed an extra $200K, which would have meant many more years of saving back in1989. The group that he represented provided us with a glossy 20 page analysis of charts and math, so it meant taking apart the pieces and looking at our personal needs and wants.

Did all the planning work out as expected? Of course not, but when changes occurred, we were prepared to adjust, and over the long haul, arrived at the same goals, with no stress.

Luck maybe, but despite our original first 5 year plan to live in our campground home (park model on a lake), we spent the first 15 years being IL/FL snowbirds. Simple changes, like not buying the planned new cars, and skipping elaborate vacation plans, kept everything in balance. Buying IBonds when the limit was $60K/person/year, and the rates were relatively high in the early 2000's, kept us on a reasonable investment path, though not leading to wealth, avoided the mistakes that I knew I'd make if I tried on my own.

Probably luck, but FWIW, psychologically safe and we'd do it again.

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Old 07-16-2016, 06:54 PM   #22
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Wish I would have known to plan for the reality of "how fast" my energy, strength and endurance levels would fall off so soon after retirement. Seems to be accelerating each year. Had I known that, I probably would not have allowed the OMY syndrome to creep in the last few years I was working. Last year I doubled my planned WR and am doing things while I still can "and want to". I don't put off traveling, hobbies, spending, etc. Life is short and tomorrow may be too late.

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Old 07-18-2016, 11:52 AM   #23
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One thing I learned I should have done was a HELOC. You can do it afterwards but for us it was a PIA.

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Old 07-18-2016, 01:58 PM   #24
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I started preparing around 2002 when I started cutting back on work hours. DW would not let me retire years before her, so I cut back eventually to 1 work day a week in 2013 and 2014 when we retired. This allowed me to practice my retirement lifestyle, travel, and hobbies for several years before I fully retired.
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Old 07-19-2016, 11:02 AM   #25
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I enrolled in a boat building course through the Hawaii Community College and was going to do that for two years while waiting for my DW to retire. Unfortunately, there were not enough enrollments for the year so I was dis-enrolled and had to find something else to do. I did have the sail boat to refurbish so I just did it one my own. (With help from my father). Two years later my DW retired and we moved to Texas. Now, I am going on three years retired and she is approaching six months. She is still asking me what my plans are for the day and when I tell her nothing she gives me a shocked look. She still maintains a "to-do" list and doesn't quite get that you don't "HAVE" to do anything in retirement. I can go days without accomplishing anything and still feel good about myself.
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Old 07-19-2016, 01:00 PM   #26
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My retirement coincided with the holiday season (T-giving/X-mas) so there was a lot of travel, family visits, etc. Once everything settled down in January and folks went back to w*rk and kids back to school, I was initially scared that I would be bored and not have anything to do. But, going on close to two years and I haven't been bored (or even CLOSE!) to being a matter of fact, I very often don't get done what I want to do on a DAILY BASIS...but that's OK to me.

I personally wouldn't PLAN anything per se. I would just let it flow and see what happens. One of the great things about retirement is that you are free to re-invent yourself as many times as you wish!
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Old 07-19-2016, 08:17 PM   #27
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I underestimated how much of s driven person I am. I still look at job listings that would be challenging, then walk away when I remember that these would be 10+ hours a day in the cube. It isn't easy to hang up your spurs. I would think seriously about how you will deal with that if you have a similar internal makeup.
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."

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Old 08-06-2016, 12:10 PM   #28
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I've done something useful every day this week. Pulling weeds, cleaning, setting up a concert for one of my music groups, etc. I love taking care of my home and not taking care of work. Today I've been goofing off and loving every minute of it.

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Old 08-09-2016, 09:14 PM   #29
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Just let it happen...
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Old 08-10-2016, 01:00 AM   #30
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I think taking the time to do a true honest inventory of friends acquaintances and activities to be clearer in my own mind about who I wanted to spend time with and what I wanted to spend time doing. Time is like calories or money - you can spend your budget well or poorly but there's a limit so you might as well have a plan!

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