All set except for the big "what now"

[gary m]

I think I'm all set to pull the plug in June after 46 years in the work force. Walking away from high paying but stress loaded job. Portfolio value 2.0 mil, pension 100k, house paid, car paid, good health, live nice but moderate lifestyle. Any doubt about financial readiness?

With all that in mind the one big doubt is the now what question. No hobbies, darling wife, 7 scattered grandkids under 13.

Is the no clue what I'll do question powerful enough to stay put. Or is it it jump in and you'll learn to swim? I personally am just fine with that approach. But experience of others is compelling enough to consider.

Not sensitive so please any thoughts gladly accepted.

 

[flyfishnevada]

Jump in. You are only limited in what you can do by your imagination. Go visit grandkids and relax for a few months or even a whole year. It will come to you. If you get bored it's not the retirement, it's you. Try some stuff out, see what fits and have fun. Good luck!!

 

[73ss454]

With 46 years of work under your belt it sounds like you are getting a bit long in the tooth, what are you waiting for?

 

[W2R]

Retirement is sort of like a long weekend or vacation, or at least it seems that way to me. If you don't have trouble keeping busy during your present days off, chances are you will find things to do after you retire. If not, the book How to Retire Wild, Happy, and Free by Zelinski is supposed to be excellent in helping with the adjustment to retirement.

Personally, I took the "jump in and learn to swim" approach and it worked out nicely for me. I never did get the Zelinski book.

As for your financial readiness, the cost of health insurance can be an issue and is something that you will want to consider. It's a good idea to look at your usual spending, how much you want to spend in retirement (including taxes and medical), and how much your portfolio yields in addition to your pension.

Congratulations on getting to this point in your life!

 

[Spanky]

As for your financial readiness, the cost of health insurance can be an issue and is something that you will want to consider.

Is it true that the OP should qualify for Medicare since he has worked 46 years?

 

[gary m]

yes

Yes I will qualify for Medicare in 4 months along with Tricare for Life

 

[Spanky]

Yes I will qualify for Medicare in 4 months along with Tricare for Life

Gary,
You are ready to jump in. There are myriads of activities in which you can participate: exercise class, tennis, biking, walking, traveling, gardening, home improvement projects, etc.

 

[WB52]

Gary,
Congratulations! Take the plunge.
Since you said you had thick skin, I will hazard a prediction... In four months, you will be asking why you did not RE four years earlier.

 

[donheff]

You mentioned your job was stress loaded but didn't say you loved it and couldn't wait to get in. Pull the plug; you will find things to do.

 

[Midpack]

Jumping in can work, but not for everyone. They say 'it's not enough to just retire from something, you also have to to retire to something.' In addition to the very good Zelinski book above (make sure you do the Get-A-Life Tree exercise, fun and doesn't take much time), Work Less, Live More by Bob Clyatt is good. If by chance you think you might want to work/volunteer like a second career (less stressful, more enjoyabable, fewer hours), Encore by Marc Freedman was good. There are other good non-financial retirement books as well.

If it helps, I was concerned before retiring so I did the Get-A-Life Tree and made sure I had thought of all the things I wanted to do in retirement before pulling the plug. I've been retired for six months now, and I haven't gotten to my lists yet. I'll probably refer to them eventually, but even if I don't, the exercise helped put my mind at ease before I actually retired. Best of luck, you're not alone by any means...

 

[obgyn65]

Have you thought about volunteering ?

With all that in mind the one big doubt is the now what question.