Follow along with my introduction to retirement.

[My Dream]

As some of you may know, I retired couple of weeks ago. I still can't get settled in since:

-I'm still going into work on occasion to complete one last project (self employed).
-I'm trying my hardest to learn about the world of investing.
-In the process of reorganizing our funds, not an easy task for me.
-Dealing with trying to learn how to cook, clean the house, haven't jumped right into laundry much yet, etc.
-And in my spare time repairing stuff around the house that has been neglected for years.

After all that is said and done, my DW says to me while we're relaxing in front of the TV,(something we haven't done in a while) by the way, do you think you have time to do something about the hot water tank that's starting to leak.....and .... the BBQ that we've had for over 21 years...........and ........ the microwave that has so many cold spots and makes a moaning sound when it's on.........and.......and.....the fridge is rattling.......and ....didn’t you say you were going to change the windows 5 years ago along with the furnace........................................... ..........OMG..................I just wanted out of that conversation and hide! What the heck, and I was thinking of finally replacing my 17 year old car, that's got over 300,000 miles on it.
When I finally took the time to grasp what my DW was telling me, it came to me…….we have been saving so much and I’ve been so busy that we have been living well below our means, well it has finally caught up with us.
Now, my new mission statement, do what ever it takes to make my wife happy…………….na, just kidding. On a serious note thought, I do have my work cut out for me, but at least there’s not pressure.
In case you're interested. I did manage to get a natural gas hot water tank at an amazing price and installed it myself, thus saving the rental cost which in the long run will oh so slightly reduce our yearly expenses. Next on the list is the BBQ, since I believe deals are in play due to the end of the season. I'm also thinking of going to NG instead of LP, after all, I can save on replacing the tank every 10 or so years and natural gas is cheaper. The wheels are in motion.

MD

[Khan]

New appliances are more energy efficient; you'll probably save money on electricity/gas.

[Poundkey]

I can sure relate to what you're saying here. I retired this past spring and my first order of business was to get after the things I had let slide for too long. I tried to take one project at a time......outside if the weather was good, and inside if not. Minor roof repairs, painting (inside and out), trimming dead tree branches, etc.

Oh....one major thing you need to do.....get that 75 vette out of the garage and back on the road.
You'll be surprised at how many things can deteriorate from just sitting. Sign onto CC and we'll help you sort through things.

[yakers]

My DW retired earlier this year. She has launched into house projects and when I get home I get to help : We have had a remarkable amount of deferred maintenance on our house, garden and a little on our vehicles. I expect when I retire I will have a year or two of catching up.

[Sheryl]

This is what worries me - right now we are too busy working to spend money. When we retire, we are going to want to do all those things - repairs, replacements, travel.... and they all cost $$$. I've tried to build these things into our budget, but it's still a little hazy to me.

[brewer12345]

Quote:

Originally Posted by Sheryl This is what worries me - right now we are too busy working to spend money. When we retire, we are going to want to do all those things - repairs, replacements, travel.... and they all cost $$$. I've tried to build these things into our budget, but it's still a little hazy to me.

If you are anything like DW and I, the extra entertainment spending will likely be offset by a reduction in money spent because you don't have time to deal with stuff yourself/working costs. Asides from commute costs, there are many things taht we spend money on due to lack of time. Example: the dryer is acting up. Its pribably something very minor to do with the vent, ut I don't have time to figure it out myself because I'm at work, and DW can't do it with a toddler and an infant running around. Cha-ching!

[Sheryl]

Quote:

Originally Posted by brewer12345 If you are anything like DW and I, the extra entertainment spending will likely be offset by a reduction in money spent because you don't have time to deal with stuff yourself/working costs.

Unfortunately I'm not sure this will save me. S.O. is pretty good about repairing stuff already. If he has more time, he just repairs more stuff, or builds more stuff. And we both have short commutes now. And he goes thru jeans and work shirts like they were paper, but already buys them at thrift stores, so there will be no work wardrobe savings.

The one place I think we will save is on eating out or buying convenience foods because it's 9 pm, there's nothing in the house, and we are starving. I actually like to cook when I have time.

[kcowan]

Quote:

Originally Posted by Sheryl The one place I think we will save is on eating out or buying convenience foods because it's 9 pm, there's nothing in the house, and we are starving. I actually like to cook when I have time.

We have found that we love eating and entertaining at home. Whereas we used to eat out regularly and eat takeout, now we will eat out on special events, and when others invite us back to their places.

We even did a drop-in meal for MIL because she no longer wants to come to our place (45 minutes one way and should be an overnight stay).

[My Dream]

Just an update:

I still get calls about work, and it's frustrating but since I was self-employed I can't just ignore the calls.
Learning about investing is a pain in the ass. Sorry about the tone, but it's not coming easy to me, and I won't give up. Believe it or not, I'm even afraid to ask questions since I'll probably get complicated answers.
I'm going to wait until Jan, 07 to move the funds from IG to TDW so avoid TDW fees and deal with capital gains next year.
I've held off on learning househusband duties such as laundry since I'm in the process of installing a new gas line for our new BBQ....ya hoo. I figured since we weren't going to go out that often we might as well replace our 22 year old one we have now. Next may be to replace the microwave and car.

As for the investment part of the equation, I've read so much that with so many views out there, I just get more confused.


MD

[Nords]

Quote:

Originally Posted by My Dream As for the investment part of the equation, I've read so much that with so many views out there, I just get more confused.

There are lots of ways to do it.

The trick is to find a way (hopefully low-effort and low-cost) that works for you... and to implement it before perpetually searching for the ultimate best way.

[My Dream]

Nords, I really appreciate the advice, although I don't know what works for me since I just don't understand.

I know it's going to take time and I won't give up.

On a different note, I think I found a car, although it needs some work. Hey, I got time.

[Rich_by_the_Bay]

Quote:

Originally Posted by My Dream Learning about investing is a pain in the ass. Sorry about the tone, but it's not coming easy to me, and I won't give up. Believe it or not, I'm even afraid to ask questions since I'll probably get complicated answers.

I got up to speed, such as it may be, by reading. A lot. If you have a bookstore nearby, splurge and buy Clyatt, Merriman, Lucia and any others that you like. After the 2nd one, they all start sounding similar and the key points come through repeatedly.

Then the responses here become more meaningful, and the BS becomes more obvious. I am no expert, but I do feel I have gotten a handle on what I need to do. No single right formula, but you'll know it when you hear it.

[Jane_Doe]

My Dream -

It is good to see you doing so well! You have Pulled the Plug! THe number one step to being officially RE! Congrats! and with your DW's nudges, before you know it, your whole house will be running like new! Don't forget to stop and enjoy the kids!

On the matter of reading and understanding all this, many of us are NOT literate on investing. That's why we read and post (numerous questions!) here.

Ideas: I have cut and pasted replies and information from posts online into my Word documents and saved them. Print it out and read at leizure. Put into categories and into a binder if you want.

Also, I save and categorize the online "links" to other websites to browse at my own pace. I also cut and paste a LOT of info from these various websites. I find printing it out and reading it on paper - even writing notes to myself - questions and observances.

I get books from library if avail, or eBay/Amazon/local discount Bookstore if I really want it bad. Then I try to take notes, highlight or put "sticky notes" on pages of particular interest. I also like to paraphrase the different ideas found (often long-winded writers could put it MUCH more sucscinctly!) I have a long "Wish" list on my Amazon.com page - that way I can "save" a list of recommended (or library) books and decide on them later.

You need to start with the easier books and work your way up. If something is over your head, put it aside till later when you are up to that point. Paul Merriman's "Live It Up Without Outliving Your Money" is a good starter. (But, I don't like his other stuff and he DOES like to push his services)

Remember, none of this is Gospel --- you need to keep reading to find out the recurring themes - they tend to be the "truths". Other stuff you need to weed thru - such as the Ray Lucia "Buckets" for example. It may make sense for some and not for others - that stuff is more "opinion".

I'm not doing a great job of explaining myself. It's just that it is all SO complicated that we just need to work slowly and be patient with ourselves - those brain cells aren't what they used to be!

Wishing you the best!

Good Luck!
Jane

[Mr._johngalt]

Quote:

Originally Posted by Jane_Doe - those brain cells aren't what they used to be!

Mine are. Unfortunately, they may be the only parts still workin' at full
capacity.

JG

[My Dream]

Jane_Doe actually you did explain yourself very well, and thanks for many good points. I never though about the copy and paste to read another time.

Thanks everyone.

At the moment I'm torn between trying to make up for lost time in regards to spending more time with my family and catching up with the many repairs I've neglected over the years. I sort of feel as though I need to carry my weight, don't know if some of you understand, therefore I haven't spent as much time as I should educating myself on the art of investing. You see, reading doesn't show any results. I guess it's just me being insecure.