8 Things To Stop Doing After 60

[Midpack]

Agree or not, some things to consider sooner rather than later. If you’ve already figured all these out, some undoubtedly have, congrats!

1. Stop saving
2. Stop (discretionary) spending on things that don’t bring you joy
3. Stop pretending (to be someone you aren’t)
4. Stop putting yourself down
5. Stop worrying
6. Stop over supporting adult children
7. Stop taking your health for granted
8. Stop taking your time for granted

My favorite insight ’we become the 6-10 people we hang around with most, so don’t hang around with “friends” that prevent you from being your best self.’ I put up with some people I should probably avoid, because some of my true friends do (to avoid conflict) - still grappling with that.

 

[LateToFIRE]

Good list! I've managed to check off most, but not quite all.

Stop saving - check, savings are in the green zone
Stop (discretionary) spending - check, I've got just about everything I need materially
Stop pretending (to be someone you aren’t) - check, what you see is what you get
Stop putting yourself down - ummm, I am still harder on myself than anyone, working on this one
Stop worrying - Ohhh, ouch, lots of progress but still transitioning
Stop over supporting adult children - check, educational expenses only
Stop taking your health for granted - check
Stop taking your time for granted - mostly, but not quite retired yet, so not fully in control of my time, much better at work-life balance though

 

[DrRoy]

Doing well except for BTD (only for joy).
DW having trouble with #5.

 

[Midpack]

Not unique to after 60, but more than ever I’d encourage us all to really listen & enegage with everyone positive in your life, whether it’s your best friend, family or random strangers. The adage ’you never learn anything when you are talking’ always reminds me to talk less and listen more. When I was younger I didn’t listen, it’s amazing how much better life is if you really engage with people - took me a long time to see that.

 

[jollystomper]

The only one that is somewhat of a challenge is #1, primarily because our retirement income is higher and our expenses have been lower than expected in the first 5 years of my retirement, which started at 60. And we have been living our "extravagant" retirement life. The only way to stop being a saver completely would be to move into #2, which we have no desire to do.

The other 7 I nailed before 60. DW (in my view) has some challenges with numbers 3-6, a lot of that having to do with her dysfunctional upbringing.

One of the sayings I heard as a youngster several times, including from my dad, was "show me your friends and I'll show you your future". That still applies at age 65 .

 

[Badger]

I have it all covered except for #5. It isn't about the money. It's about some of the other things that often accompany aging.

Cheers!

 

[Amethyst]

I only ever did/do 2 of these.

Agree or not, some things to consider sooner rather than later. If you’ve already figured all these out, some undoubtedly have, congrats!

1. Stop saving
2. Stop (discretionary) spending on things that don’t bring you joy
3. Stop pretending (to be someone you aren’t)
4. Stop putting yourself down
5. Stop worrying
6. Stop over supporting adult children
7. Stop taking your health for granted
8. Stop taking your time for granted

My favorite insight ’we become the 6-10 people we hang around with most, so don’t hang around with “friends” that prevent you from being your best self.’ I put up with some people I should probably avoid, because some of my true friends do (to avoid conflict) - still grappling with that.

 

[street]

#1 & #5 unchecked most likely stay unchecked.

#1 just happens and will continue because of the growth/gains out of my control.

#5 is my makeup to be over concerned about things in life, other than money.

 

[Amethyst]

Gee, I thought the list was going to be more on the order of:

1. No more skydiving
2. No Speedos
3. No pub crawls
4. Don't enlist in the military
5. I had another one, but it could be seen as political.

 

[MarieIG]

When I saw the list - I thought why 60 and how does that apply across the board?

But - he puts the list in context in the video.

 

[Andre1969]

I'm 53, so I'm still a few years off. But I can see myself having a problem with #1. I could probably cut back in the saving now, but instead, this year I doubled-down on it.

I've been contributing the federal max on my 401k since around 2004 or 2005, although since I hit 50, I never did contribute the max+catch-up. However, in October 2022, I finally sold our old family homestead. In addition to the proceeds from that, I figure it freed up at least $7,000/yr in carrying costs (property tax, insurance, electric, water/sewer). Then, in November 2022, I rented out my spare bedroom to a friend who was starting to struggle a bit financially.

I was doing all right before I sold the house/rented the spare room, so I used the extra income/freed up cash to ramp up my 401k, and for 2023 I have it planned out to hit the $30K max (federal limit + catch up).

I'm at the point where I could scale back on saving, and really didn't need to go in the opposite direction. Still, there's nothing that I really feel a pressing need to buy. I'm also still working though, so I guess, if nothing else, that extra saving is giving me more security, more reassurance, that I'll be okay when I do retire. So, I guess I can rationalize it as padding my peace-of-mind, for the time being?

 

[Amethyst]

I think your belt-and-suspenders approach is just right. I'm quite a bit older than you, and every time I start to think "Why did I work so long," something expensive occurs.

I'm 53, so I'm still a few years off. But I can see myself having a problem with #1. I could probably cut back in the saving now, but instead, this year I doubled-down on it.

I've been contributing the federal max on my 401k since around 2004 or 2005, although since I hit 50, I never did contribute the max+catch-up. However, in October 2022, I finally sold our old family homestead. In addition to the proceeds from that, I figure it freed up at least $7,000/yr in carrying costs (property tax, insurance, electric, water/sewer). Then, in November 2022, I rented out my spare bedroom to a friend who was starting to struggle a bit financially.

I was doing all right before I sold the house/rented the spare room, so I used the extra income/freed up cash to ramp up my 401k, and for 2023 I have it planned out to hit the $30K max (federal limit + catch up).

I'm at the point where I could scale back on saving, and really didn't need to go in the opposite direction. Still, there's nothing that I really feel a pressing need to buy. I'm also still working though, so I guess, if nothing else, that extra saving is giving me more security, more reassurance, that I'll be okay when I do retire. So, I guess I can rationalize it as padding my peace-of-mind, for the time being?

 

[athena53]

I was still saving like mad till I retired at 61. Now I withdraw $X every year (roughly 3.5% annual WR) and if I have anything left over, it goes to charity, travel for the upcoming year, DS and DDIL or the grandchildren's 529s. It does not go back into the pot.

My addition to the list: Stop putting up with crap. I've gotten so much better at decreasing my people-pleasing behavior and saying what I like and don't like. People don't have ESP and quietly seething or getting angry after the fact aren't constructive.

 

[COcheesehead]

#3 is a head scratcher I have always been me, much to my wife’s chagrin.

 

[Koolau]

Yeah, #5 is a tuffy. It's a bit in my nature to worry.

 

[pacergal]

#5 is the hardest, just for life in general, not necessarily money.

 

[aja8888]

#5 is the hardest, just for life in general, not necessarily money.

There's a pill for that!

 

[Dash man]

I’ve pretty much nailed all but the helping adult children. We have one that will likely always need assistance, and help the other to keep things somewhat even.

 

[StillFiguringItOut]

#4 Stop putting yourself down
#6 Stop over supporting adult children

These are my problems

 

[Aerides]

Gee, I thought the list was going to be more on the order of:

1. No more skydiving
2. No Speedos
3. No pub crawls
4. Don't enlist in the military
5. I had another one, but it could be seen as political.

I was expecting to see something with polesaws and ladders.

 

[Amethyst]

Why do some of you put yourselves down? Does it get you somewhere, e.g. lead to a plan for self-improvement?

Otherwise, I don't see the point; in fact, it seems like it would be costing you. Stealing from yourself, in a way.

 

[ls99]

1. Pay no attention to do or do not do lists. Enjoy life.

 

[LateToFIRE]

Why do some of you put yourselves down? Does it get you somewhere, e.g. lead to a plan for self-improvement?

Otherwise, I don't see the point; in fact, it seems like it would be costing you. Stealing from yourself, in a way.

Don't know about others, but with me it's largely a been a competitive thing (with a dash of perfectionism). Not exactly emotionally healthy, but sometimes these unhealthy qualities serve a purpose at certain phases of life. For me, it resulted in the motivation, perseverance, discipline, focus, work ethic and sheer will to overcome extremely long odds in a very challenging early life.

As I've aged, have needed to consciously and very intentionally mellow out and slow down in order to find greater contentment and not drive DW insane. But, seriously, that is hard work to accomplish after decades in the no holds barred fighting pits.

 

[freedomatlast]

I was expecting to see something with polesaws and ladders.

There should be. I was near the top of a 28' ladder last night and was thinking the whole time that I probably shouldn't be doing that.

 

[Qs Laptop]

My favorite insight ’we become the 6-10 people we hang around with most, so don’t hang around with “friends” that prevent you from being your best self.’ I put up with some people I should probably avoid, because some of my true friends do (to avoid conflict) - still grappling with that.

This one really hit home for me. I've come to realize that many of my friends from years and years ago I would never befriend nowadays, if we were to just meet each other.

It puts a new perspective on whether or not one should move to a different state. "But all my friends are here", is not such an important argument for staying in place once you realize the main reason you hang out with them is because you've always done so.