Hi, I'm Sarah

[Milton]

Hello Sarah,

Just because you don't need to work (good for you!) doesn't mean that you should retire. Broadly speaking, there's really only two good reasons why anyone should retire:

(1) you have other activities you'd like to spend your time enjoying, rather than working; or

(2) the psychological or physical stress of working is harming your health.

I don't know your situation, but your post doesn't seem to suggest that either of those reasons currently applies to you. If you are having difficulty even considering "letting go", then presumably you enjoy most aspects of your job (notwithstanding that you are "really tired"; perhaps all you need is a good vacation?). And you didn't say anything about "I can't wait to travel / volunteer / golf / sail / hike / spend more time with friends / etc.".

Financial independence is probably a good idea for everybody, but I don't believe that necessarily holds true of early retirement. Unless and until you're sure you're ready, take your time and don't burn any boats.

Regarding the possibility of depression: quite a few studies suggest that the more people plan ahead for their retirement, the easier and more successful the transition. The retirees who struggle tend to be those who gave no thought to how they would spend their time. Google "Successful Retirement" and you will find some resources that may help.

[Walt34]

Retirement was an adjustment unlike anything I'd ever experienced before. DW and I both started working in our early teens and didn't stop until retirement. The first year was like being on vacation since we moved immediately afterwards, the second year was a bit more difficult, adjusting to having lots of free time and nothing scheduled. And I did go through a period of depression - it's hard to let go of an identity one has held for almost 30 years, at least it was for me. But at the same time it was a relief because I could also let go of the responsibilities that went with it.

But then I thought "Why do I need to schedule anything?"

We have all the privileges of adulthood with almost none of the responsibilities. We have good health, a steady income, a paid-for roof over our heads, two vehicles, no debt, funds set aside for any reasonably foreseeable contingencies, a small boat to go fishing with or just a lazy day on the river, and the list goes on. We bought a couple of bicycles for rides (now if I can just talk DW into using them more) and enjoy that.

There can be some boredom when the weather is lousy but family and friends noticed within a year that we were both more relaxed than they'd ever seen us. We're not ones for lots of travel, preferring day trip type outings for the most part, and that works for us.

DW is very close to family and it's important to her to have lots of free time to spend with them. We recently discovered that her father has been living beyond his means and we're working on getting him into an environment that he can afford and where he won't have to have a car since his driving days are clearly numbered, so that's the "project" for now.

Retirement is a phase change, no question. But as one of my older relatives put it "When it's time to retire, you will know". I don't believe you'll need to ask anyone else.

Be grateful that the decision is voluntary and not dictated by health or economic issues at your place of employment as has happened to so many other people.

[FreeAtLast]

Hi Sarah,

Welcome to the Forum. You are the only one that can make the decision of when to leave. I still work a few morning a week and there are those weeks that I feel that I don't have time to work.

Good luck

[Dawg52]

Quote:

Originally Posted by SarahW Thanks for all the replies; I have a lot of reading to do!! Do/did any of you find retirement depressing at all? I'm worried about that "loss of usefulness" thing. (Sorry I sound like such a whiner; I didn't think a retirement decision would be so stressful.)

Depressing? Lord no. I had a lot more depressing days when I worked. Of course it helps to have a hobby or passion to keep you occupied. Golf 5 days a week for me. Maintain my yard and my Mother's yard. Take the mutt swimming and on hikes. Plenty to do.

If you retire and have absolutely no interest outside of work, you could be bored. Just be sure you have a few things lined up before you retire. You can always w*rk part time if you need that. Good luck with it all!

[SarahW]

I appreciate everyone taking the time to respond; as I expected there are many differing viewpoints!

Walt34, I'm thinking that it will be a a huge adjustment for me, too. Though I often yearn to hit the alarm clock with a mallet, I'm wondering if I'm really ready to throw in the towel.

Kevin92610--I understand exactly what you're saying about your wife; I'm in the same boat. It was a struggle to achieve a level of success in my career and I'm not sure exactly how to let go.

FreeatLast--yeah, I know ultimately I'm the only one who can say when I'm ready. It's just more difficult than I imagined.

Milton--you have nailed it. Right now there's nothing I can think of that I want to do that requires retirement. My greatest fear is that I will retire and once the "vacation" feeling is over, I won't know what to do with myself. I'm just feeling burned out and tired of things, but still a scaredy-cat when it comes to such a major life decision.

Again, I appreciate all who have responded. I will hang around and see if some of the retirement enthusiasm rubs off on me. I will stay out of the financial discussions because I am not financially savvy, and in fact don't plan to do anything with my company savings (largely stock) except spend the quarterly dividends. (gasp!) If I retire I will probably take a lump-sum pension distribution and roll that into some investments while living off my work-a-day hubby.

[Meadbh]

Quote:

Originally Posted by SarahW My greatest fear is that I will retire and once the "vacation" feeling is over, I won't know what to do with myself. I'm just feeling burned out and tired of things, but still a scaredy-cat when it comes to such a major life decision.

So.....try out some new activities you have always wanted to do. Test drive them for retirement.

Quote:

Originally Posted by SarahW Again, I appreciate all who have responded. I will hang around and see if some of the retirement enthusiasm rubs off on me. I will stay out of the financial discussions because I am not financially savvy, and in fact don't plan to do anything with my company savings (largely stock) except spend the quarterly dividends. (gasp!) If I retire I will probably take a lump-sum pension distribution and roll that into some investments while living off my work-a-day hubby.

Whoa......if your investments are mainly in your company's stock, too many of your eggs may be in one basket. You owe it to yourself to become financially savvy. Nobody else can do it for you.

[cute fuzzy bunny]

Dont consider it retirement. Think of it as a sort of open ended unemployment/vacation/sabbatical combination.

After a while that funny business about retirement being synonymous with being old will sort of go away on its own.

[SarahW]

Quote:

Originally Posted by Meadbh Whoa......if your investments are mainly in your company's stock, too many of your eggs may be in one basket. You owe it to yourself to become financially savvy. Nobody else can do it for you.

Yeah, yeah. I know. But it has served me very well for 26 years and I get very nice dividends. No plans to change. :nope:

[REWahoo]

Lets hope you don't come down with a serious case of Enronitus...

[SarahW]

Hope not, but I'll take my chances.

[cute fuzzy bunny]

Quote:

Originally Posted by SarahW Yeah, yeah. I know. But it has served me very well for 26 years and I get very nice dividends. No plans to change. :nope:

Served me well for many years as well. Until it dropped 80% and still hasnt recovered to within 65% of where I sold it.

For a long time I was selling my options every year and buying a broad range of asset classes and I was the village idiot since the stock kept going up. When the stock dropped, I instantly went from idiot to genius.

Concentration makes you rich. Diversification keeps you that way.