Jumped without looking a year ago

[Louis2]

Hello everyone. I am 51 and retired about a year ago. I have been reading these threads and decided I should start participating in the discussions!


A few facts about myself. I worked about 28 years as an engineer and project manager, eventually becoming an executive in a very large US company. My wife is 49 and still works with reasonable health insurance. She is in no hurry to quit. We have two daughters aged 21 and 23 who will both finish school in the next year. (Both are projected employable! and we are lucky no student loan debt thanks to -529 plans.) We also have a wonderful new golden retriever puppy.


We have always lived well within our means and have healthy savings, both IRA and post-tax. FIRECALC says we are good for 100% of scenarios. I am a big proponent for avoiding debt like the plague and paying yourself first.


I have made plenty of mistakes though, so plenty of soft spots for the group to enjoy.
- - I did buy a variable life policy five years ago without doing my homework. By the time I looked into the details, I calculated that I was better off staying with it. I revisit and agonize this decision every six months!


- - I do have part of my money with a financial advisor paying 1% annually for the last couple years. Since the market has done so well it hasn’t seemed painful, but I know the difference that 1% could make over time.


- - Most of all, though I always planned financially for early retirement, I did not plan “socially”. When my buyout offer came in 2012, I jumped on it without really knowing how I would spend my time in retirement. Totally unprepared. I talked to a lot of people, but didn’t know many in my situation. Found sites like this one and others, SLOWLY figuring out how I want to live now. I wish I had been better prepared.


Anyway, sorry for the long introduction and I’m not asking any specific questions today. I just wanted to introduce myself before joining in on the threads.

 

[NW-Bound]

...When my buyout offer came in 2012, I jumped on it without really knowing how I would spend my time in retirement. Totally unprepared...

Someone has written that one needs something to retire to, not just to retire from.

You have plenty of time (pun intended) to figure that thing out, although with spouse still working, that kind of rules out things a couple can do together such as travel.

 

[Ready]

Welcome to the forum Louis2!

From reading your intro, I'd say you planned things out about as perfectly as could be. Retired at 51, health insurance covered by DW's policy, no debt, 100% success in Firecalc...Outstanding!!!

Just enjoy the free time and allow yourself to slowly be introduced to new interests and hobbies, and don't feel like you need to rush to fill up your time with things. For someone who has been busy their entire life, sometimes just having a few slow moments to enjoy is the best thing that can happen for you.

Thanks for the intro and look forward to seeing you on the discussion threads.

 

[Live And Learn]

Welcome to the forum Louis2. You'll have plenty of company here. I wouldn't fret about not knowing how to spend your time at the moment - I'm sure you'll figure it out !

 

[SumDay]

Welcome to the forum. There is more to retirement planning, than just the $$$, isn't there? I've still got about 4 years to go, and frankly it makes me nervous. My FireCalc also gives me 100%, but I think the "not working" thing will be tough on me too. I look forward to hearing more from you - I like to learn from the experiences of others in similar situations.

 

[Free To Canoe]

Welcome to the forum Louis2. You'll have plenty of company here. I wouldn't fret about not knowing how to spend your time at the moment - I'm sure you'll figure it out !

Welcome Louis2! I kind of did it the same way. Economic opportunity knocked and I answered.

 

[Gumby]

Welcome aboard, Louis2. I'm interested to hear how you progress.

 

[Options]

Hello everyone. I am 51 and retired about a year ago. I have been reading these threads and decided I should start participating in the discussions!


A few facts about myself. I worked about 28 years as an engineer and project manager, eventually becoming an executive in a very large US company. My wife is 49 and still works with reasonable health insurance. She is in no hurry to quit. We have two daughters aged 21 and 23 who will both finish school in the next year. (Both are projected employable! and we are lucky no student loan debt thanks to -529 plans.) We also have a wonderful new golden retriever puppy.


We have always lived well within our means and have healthy savings, both IRA and post-tax. FIRECALC says we are good for 100% of scenarios. I am a big proponent for avoiding debt like the plague and paying yourself first.


I have made plenty of mistakes though, so plenty of soft spots for the group to enjoy.
- - I did buy a variable life policy five years ago without doing my homework. By the time I looked into the details, I calculated that I was better off staying with it. I revisit and agonize this decision every six months!


- - I do have part of my money with a financial advisor paying 1% annually for the last couple years. Since the market has done so well it hasn’t seemed painful, but I know the difference that 1% could make over time.


- - Most of all, though I always planned financially for early retirement, I did not plan “socially”. When my buyout offer came in 2012, I jumped on it without really knowing how I would spend my time in retirement. Totally unprepared. I talked to a lot of people, but didn’t know many in my situation. Found sites like this one and others, SLOWLY figuring out how I want to live now. I wish I had been better prepared.


Anyway, sorry for the long introduction and I’m not asking any specific questions today. I just wanted to introduce myself before joining in on the threads.

Welcome. I've recommended this elsewhere, and it's a book that helped me tremendously in thinking about/preparing for the non-financial aspects of retirement (quite generous with excellent suggestions for further reading): "What color is your parachute for retirement?" by John N. Nelson and Richard E. Bolles. Nelson gathers latest retirement research on all retirement aspects from universities in the book. I liked it very much.

 

[Louis2]

Thanks for all the welcoming words!

I've made good progress in figuring out what to do with my days over the last year. My wife sill works, so I've assumed most of the household stuff including cooking a "real" dinner at least 2-3 times a week. Cooking is MUCH more satisfying when you have time. I've also started some volunteering work (drive car pool a few days for a boys home, a United Way allocations panel, small things at church). Along with golf, fishing, and my new puppy, I keep just busy enough.

But as with every stage in life, I don't think it is about any one answer. I think most people keep changing and learning over time, so the right answer today might be the wrong answer in a few years. And I'm ok with that!! I know my "60 hours a week and never away from my phone" self wouldn't even recognize my retired self! I look forward to swapping experiences and philosophies with others here!

 

[38Chevy454]

I think you have s good grasp on what you are experiencing and therefore can adjust. You do need some activities to do, not just household stuff, but the volunteering and other outside the house plans. Have any hobbies that you can do more on? How about spending time to learn more about your investments and becoming self-directed instead of the financial adviser. Consider it paying yourself!

Since you have the financial worry taken care of based on your FIRECalc results, time to get the emotional side taken care of.

I am in similar situation as you, with some differences. But I am still deciding when to make the transition from work to retired. I look forward to the day I no longer have to go to work. I have a lot of hobby and house activities to keep me busy, just working the financial end of things.