One biggest "surprise" in retirement

[z-d-g]

Newsletter? Sounds like w*rk...

Good point.

Let's go back outside. My wine's getting cold. Or hot. Or whatever it's not supposed to be.

 

[Lazarus]

I'm a portfolio manager.

I have one customer.

He prefers that I do not divulge his name.

Not lying, just leading the questioner away from the truth.

Same for me. You are never too young to retire only too poor.

I first learned of retirement from my Great Grandmother. I saw old men in their overalls around the town square feeding the pigeons. I asked why they were not working. My Grandmaw said that when your were 65 you didn't have to work anymore. It sounded good to me! Next time I am there I am putting on my overalls and feeding the pigeons!

The town square is mostly parking lot now and I live 600 miles away. I guess I always wanted to recapture that carefree time when I was a pre school child with no worries.

I am there now.

 

[Milton]

NEGATIVE: Most of this is tied to the fact that I retired at 35 and moved to the Wine Country where a majority of the other retirees out here are almost twice my age (with exception), but I am getting kind of tired of the "RETIRED? You mean you're still lookin' for a job..." followed by "but you're too young to retire!" At first, it was cute but it's getting old already. I guess it's the feeling of having to DEFEND being retired on my own money at such a "young age".

It's a real shame how judgmental people are.

I seriously doubt that you are going around opining that "everyone who works past age 40 (or whatever) is a fool" ... so it's unclear why people feel threatened by your choice, or why they feel they have the right to comment.

 

[marko]

Only been FIREd for 6-9 months (FI 9 months, RE 6 months).

NEGATIVE: Most of this is tied to the fact that I retired at 35 and moved to the Wine Country where a majority of the other retirees out here are almost twice my age (with exception), but I am getting kind of tired of the "RETIRED? You mean you're still lookin' for a job..." followed by "but you're too young to retire!" At first, it was cute but it's getting old already. I guess it's the feeling of having to DEFEND being retired on my own money at such a "young age."

Maybe zdg just needs to move to an area where there are more similarly young, wealthy people around. Sounds like the locals can't wrap their heads around an early retiree.

In some parts, having to work until you're 'retirement age' makes you some sort of loser.

 

[HFWR]

...why they feel they have the right to comment.

I see you're new to this planet...

Maybe zdg just needs to move to an area where there are more similarly young, wealthy people around.

I foresee a case of "affluenza"...

 

[kumquat]

I saw old men in their overalls around the town square feeding the pigeons. I asked why they were not working. My Grandmaw said that when your were 65 you didn't have to work anymore. It sounded good to me! Next time I am there I am putting on my overalls and feeding the pigeons!

It wasn't Tom Leher was it?
Tom Lehrer - Poisoning Pigeons In The Park (live, 1998). - YouTube

 

[Moscyn]

Only been FIREd for 6-9 months (FI 9 months, RE 6 months).

NEGATIVE: Most of this is tied to the fact that I retired at 35 and moved to the Wine Country where a majority of the other retirees out here are almost twice my age (with exception), but I am getting kind of tired of the "RETIRED? You mean you're still lookin' for a job..." followed by "but you're too young to retire!" At first, it was cute but it's getting old already. I guess it's the feeling of having to DEFEND being retired on my own money at such a "young age."

I get that quite a fair bit and I was 50 when I retired. Just ignore them and live your retired life as you so desire.

 

[imoldernu]

Surprise - That we made it without having to go back to work.

Retired at 53, in 1989... no pension

At the time of retirement, our original budget plan was inflation 5%, interest income 7%.
Didn't happen, not even close... but we are on our 30 year net worth plan, within $10,000.

Hmmm... one other surprise... no one in my bride's family or in mine, ever lived beyond 70.

Reason? Ramen Soup, and a warm, cozy cave.

 

[z-d-g]

I get that quite a fair bit and I was 50 when I retired. Just ignore them and live your retired life as you so desire.

Oh I am, and I should be clearer, it's only a few people here and there. It's not like an all-day-every-day thing. I would say a vast majority of people say "well, GOOD FOR YOU!" and then change the topic.

I certainly can't imagine changing my lifestyle because some stranger questioned my early retirement. That's insane.

I kind of figure 99% of the people who question it are jealous as hell and wish they had retired in their mid-30s too.

 

[grasshopper]

Same for me. You are never too young to retire only too poor.

I first learned of retirement from my Great Grandmother. I saw old men in their overalls around the town square feeding the pigeons. I asked why they were not working. My Grandmaw said that when your were 65 you didn't have to work anymore. It sounded good to me! Next time I am there I am putting on my overalls and feeding the pigeons!

The town square is mostly parking lot now and I live 600 miles away. I guess I always wanted to recapture that carefree time when I was a pre school child with no worries.

I am there now.

My retirement mentor was Mr S. The family driving to town would come upon Mr S laying down beside the road, Mom told us that Mr S was a road inspector. It wasn't until later in my life I realized, he only inspected the road between his home and the nearest bar. At least he was smart enough not to try driving.

 

[pb4uski]

....NEGATIVE: Most of this is tied to the fact that I retired at 35 and moved to the Wine Country where a majority of the other retirees out here are almost twice my age (with exception), but I am getting kind of tired of the "RETIRED? You mean you're still lookin' for a job..." followed by "but you're too young to retire!" At first, it was cute but it's getting old already. I guess it's the feeling of having to DEFEND being retired on my own money at such a "young age." ....

I get "you're too young to retire" even at 56.

I had a former colleague who retired at 50 and his main complaint was that he had trouble finding people his own age to ski or play golf or tennis with during the weekdays. I was still w*rking and remembering thinking that would be a nice problem to have!

That said - as you know, 35 is exceptionally young to retire - even I might comment on that if we met outside this forum - but good for you!!!

 

[scrabbler1]

NEGATIVE: Most of this is tied to the fact that I retired at 35 and moved to the Wine Country where a majority of the other retirees out here are almost twice my age (with exception), but I am getting kind of tired of the "RETIRED? You mean you're still lookin' for a job..." followed by "but you're too young to retire!" At first, it was cute but it's getting old already. I guess it's the feeling of having to DEFEND being retired on my own money at such a "young age."

As someone who retired at 45 (4 years ago), I find myself in awe of you being able to retire at 35. I would not hassle you on that, of course.

 

[HighRoller]

Surprised at how little I've missed the work -

 

[pb4uski]

Surprised at how little I've missed the work -

+1 I enjoyed my work and clients and colleagues. While I do miss the people, particularly my boss and some of my colleagues and some of my clients, I don't miss the pressure/deadlines (though I tended to ignore them) and most of all, conflicts with clients trying to cut corners or play games.

 

[Koolau]

Biggest surprise has been "cash burn rate" once moved to Paradise. You can research the heck out of something and still miss some significant costs. In our case, all would be solved if we gave up our "escape clause" (maintaining small apartment in the hinterlands.) The good news is that while we didn't plan the spending as well as we should (15 to 20% more??) our back-up plans have made it all possible for now. Biggest back-up was taking significantly less than 4% from our stash and waiting several more years for my SS. Of course, the ultimate back-up is one we hope not to need - moving back to the hinterlands where we could live like kings (in the snow). YMMV

 

[Mulligan]

Biggest surprise has been "cash burn rate" once moved to Paradise. You can research the heck out of something and still miss some significant costs. In our case, all would be solved if we gave up our "escape clause" (maintaining small apartment in the hinterlands.) The good news is that while we didn't plan the spending as well as we should (15 to 20% more??) our back-up plans have made it all possible for now. Biggest back-up was taking significantly less than 4% from our stash and waiting several more years for my SS. Of course, the ultimate back-up is one we hope not to need - moving back to the hinterlands where we could live like kings (in the snow). YMMV

Your points are ultimately the reason I will never be able to retire to the islands, as much as I would like to give it a try. I ultimately am going to always lie financially between doing whatever I want, whenever I want at present location, but having just enough to get by living in the islands. I couldn't bear to live in less than a nice place, and writing that monthly mortgage check would be bring huge tears to my eyes. So it looks like vacationing to the islands will have to do for me.

 

[pb4uski]

Biggest surprise has been "cash burn rate" once moved to Paradise. You can research the heck out of something and still miss some significant costs. In our case, all would be solved if we gave up our "escape clause" (maintaining small apartment in the hinterlands.) The good news is that while we didn't plan the spending as well as we should (15 to 20% more??) our back-up plans have made it all possible for now. Biggest back-up was taking significantly less than 4% from our stash and waiting several more years for my SS. Of course, the ultimate back-up is one we hope not to need - moving back to the hinterlands where we could live like kings (in the snow). YMMV

Is it really necessary to "maintain" an apartment? If you decided to escape couldn't you just go out and find a suitable apartment?

 

[Milton]

Is it really necessary to "maintain" an apartment? If you decided to escape couldn't you just go out and find a suitable apartment?

Well yes, but it would not be pre-stocked with canned goods, gold coins, ammunition, etc.!

 

[Koolau]

Is it really necessary to "maintain" an apartment? If you decided to escape couldn't you just go out and find a suitable apartment?

Good question, pb4uski. It's true that we could give up the apartment and just find another if we ever decided to give up Paradise. That would definitely save quite a bit. But, we always spend 3 to 4 months there every year. For our "non-escape plan" i.e., just coming back for a few months every year, we looked into the "Home Suites" or just a motel and decided that our cash burn for our current apartment was not much more expensive. Also, we figured living in a motel for 3 months would lead to divorce! We know of a couple who live most of the year in FL but spend 4 months in a rental house (same city we have our apartment). They count on family to line it up for them each year. So, most years, they have a different place they must get used to and move their worldlys (to and from) a rented storage unit, etc. I don't know their costs, but I'm sure they pay a higher monthly rent than we do since it's short term. Admittedly, they only pay for the time they are there (plus 8 months storage unit). Finally, you can't imagine the luxury of coming "home" to an apartment which is just the way you left it, has YOUR stuff in it (even has food in the freezer and clean sheets on the bed). There's nothing to take out of storage and no need to get rid of the accumulation of "stuff" still there from your previous (non-Paradise) life. (Until this summer, I still had my mom's piano there!!!)

Having said that, getting rid of our stuff and giving up the apartment would happen long before we would give up paradise. So, that's one of our many back-up plans. But, it does add to cash burn.

 

[Koolau]

Your points are ultimately the reason I will never be able to retire to the islands, as much as I would like to give it a try. I ultimately am going to always lie financially between doing whatever I want, whenever I want at present location, but having just enough to get by living in the islands. I couldn't bear to live in less than a nice place, and writing that monthly mortgage check would be bring huge tears to my eyes. So it looks like vacationing to the islands will have to do for me.

I hear you. When we first fell in love with Paradise, we were in our 20's and said we would be willing to live under a blue tarp on the beach. Funny, as you age, your "wants" become needs. Now, we require a nice place and even upgraded our first "nice" place to a "very nice" place. BUT, if living in a safe, comfortable place (as opposed to very nice place) were required to stay in Paradise, we could manage it. THAT is one of our first back-ups for "the plan". The key to living in Paradise is being adaptable (frozen, never fresh blueberries, etc.). We could give up our cars and take THE BUS and save thousands/year. We choose not to since we don't have to. BUT we WOULD do that rather than give up Paradise if it ever comes to that. I think my original point was the "surprise" of even higher cost of Paradise than we had figured. Since we can manage it, we're willing to pay the price. If we couldn't, we would step-wise institute our back-ups or give up and move back to the frozen tundra. The single biggest factor to a successful move to Paradise is "desire". If it's what you want, you will make it work. YMMV

 

[ERhoosier]

I get that quite a fair bit and I was 50 when I retired. Just ignore them and live your retired life as you so desire.

Or perhaps suggest pondering a Biblical passage about the Levites

........but at the age of fifty, they must retire from their regular service and work no longer. (Numbers 8:25, NIV)

 

[Moscyn]

Or perhaps suggest pondering a Biblical passage about the Levites

........but at the age of fifty, they must retire from their regular service and work no longer. (Numbers 8:25, NIV)

I like that!

 

[pb4uski]

Good question, pb4uski. It's true that we could give up the apartment and just find another if we ever decided to give up Paradise. That would definitely save quite a bit. But, we always spend 3 to 4 months there every year. For our "non-escape plan" i.e., just coming back for a few months every year, we looked into the "Home Suites" or just a motel and decided that our cash burn for our current apartment was not much more expensive. Also, we figured living in a motel for 3 months would lead to divorce! We know of a couple who live most of the year in FL but spend 4 months in a rental house (same city we have our apartment). They count on family to line it up for them each year. So, most years, they have a different place they must get used to and move their worldlys (to and from) a rented storage unit, etc. I don't know their costs, but I'm sure they pay a higher monthly rent than we do since it's short term. Admittedly, they only pay for the time they are there (plus 8 months storage unit). Finally, you can't imagine the luxury of coming "home" to an apartment which is just the way you left it, has YOUR stuff in it (even has food in the freezer and clean sheets on the bed). There's nothing to take out of storage and no need to get rid of the accumulation of "stuff" still there from your previous (non-Paradise) life. (Until this summer, I still had my mom's piano there!!!)

Having said that, getting rid of our stuff and giving up the apartment would happen long before we would give up paradise. So, that's one of our many back-up plans. But, it does add to cash burn.

Ah, I see - didn't know about the 3-4 months every year thing. There is something to be said for having your own "things" compared even to renting a furnished apartment for a few months.

 

[cjacks]

I am finding this thread to be both interesting and helpful. I am 62 and am planning on retiring 3-1-13. My coworkers and the company owners are all telling me I am to young to retire and how bored I am going to be. I can't imagine dealing with this if I was 35 or 45.
Also, I am being pressured to stay at least stay part time for awhile. I am the vp of operations for a manufacturing company that employs 300 people. I have held this position for 28 years. Physically I am ok but mentally I am toast. This thread has helped me make up my mind about the part time thing. The answer is thanks, but no thanks. I probably already have more things lined up to do then I can possibly do. I really don't like surprises, so my thanks goes out to all who have responded to this thread.
Cjacks

 

[ERhoosier]

......Physically I am ok but mentally I am toast. .....
Cjacks

Excellent observation that's underappreciated by many retirement planners. Bad stress at work can be as debilitating as any physical ailment, or even life-threatening (e.g. stress-related heart disease). Planners seem to assume most folks basically enjoy various aspects of their workplace & will miss it after retirement. IMHO- This may be not be true for current & future generations.