Top 3 findings in 3 years

[Focus]

Three years ago this month I entered the wonderful world of ER. I've come to believe that you can't predict how you'll feel on the other side, no matter how hard you try. Why? Because during our careers so much of our nonwork-related energy is focused on providing a counterbalance to work's stresses. It can take, surprisingly, a couple of years for the accumulated layers of stress to drop off entirely. Then it's a whole new world, requiring an entirely different approach.

Here are my top 3 findings:

1. You might spend less than you think. Before retirement I focused in large part on the financial side of things. I ran lots of different scenarios using online calculators. But I haven't done that since. Once I realized that my spending would be a lot lower than I originally estimated, barring unplanned major financial hits, I became much more relaxed about money. I don't even follow a budget or withdrawal formula (e.g., 4% rule). The wild card is healthcare, of course.

2. A little work provides welcome contrast. Initially, I thought I would not be interested in part-time work at all, but that changed. We're adaptable creatures, and leisure quickly becomes the new normal, making it easy to take it for granted. I've found that some enjoyable, low-stress work enhances my appreciation of leisure and post-retirement freedom of choice. And the extra income, although it's not much, gives me a little more play money.

3. Good health is part of your wealth. Once you think you've finally fully grasped the owner's manual to your body, your body starts to change or present you with health challenges. You can eat less, but you still gain weight. You can exercise as much as before, but with diminishing returns. So you have to continually adjust. Perhaps most important is to get a full night's sleep. I realized after I retired that I had been sleep deprived at work; now I make sure to get eight hours (or at least seven) of sleep.

What's been your experience?

 

[Midpack]

After over 6 years retired I'd agree with all three of your observations, and I didn't fully appreciate/predict the first two before retiring either.

 

[RAE]

After 7 1/2 years of retirement, here are my thoughts:

I agree with your third observation wholeheartedly. Good health is by far the most important thing you can have in retirement, and doing the things you need to do to maintain good health are incredibly important. Good sleep is vital, but so are daily exercise and a healthy diet.

My spending in retirement is about what I thought it would be, overall. Spending on some things is higher than expected (helping stepkids with expenses, for one), but less on others (entertainment, travel).

I differ in your second point. I have zero interest in going back to work for an income. I do volunteer for several organizations, and I am busy every day working for myself on various projects and hobbies that I'm interested in, but I do not ever plan to go back to working for someone else for $$. Been there, done that!

 

[travelover]

...........I differ in your second point. I have zero interest in going back to work for an income. I do volunteer for several organizations, and I am busy every day working for myself on various projects and hobbies that I'm interested in, but I do not ever plan to go back to working for someone else for $$. Been there, done that!

After 10 years of ER, I totally agree. Even volunteering on a schedule is more than I can hack.

 

[DrRoy]

I've been RE'd since March and DW last year. For #1, the first 5 months spending was exactly on my estimate, but I have realized that I was being pretty conservative out of habit and we are starting to spend more on travel. It hasn't been long enough for #2 to kick in, if ever. #3 we have been well aware of.

 

[marko]

After 7 1/2 years of retirement, here are my thoughts:

I agree with your third observation wholeheartedly. Good health is by far the most important thing you can have in retirement, and doing the things you need to do to maintain good health are incredibly important. Good sleep is vital, but so are daily exercise and a healthy diet.

My spending in retirement is about what I thought it would be, overall. Spending on some things is higher than expected (helping stepkids with expenses, for one), but less on others (entertainment, travel).

I differ in your second point. I have zero interest in going back to work for an income. I do volunteer for several organizations, and I am busy every day working for myself on various projects and hobbies that I'm interested in, but I do not ever plan to go back to working for someone else for $$. Been there, done that!

+1 And like you and Travelover, I couldn't find time for a job even if I wanted one.

 

[FreeBear]

First, I'm realizing that health and energy to live life is precious. We just returned from a wonderful active vacation, but are now fighting nasty colds and athletic overuse injuries. Our older, formerly very active friends, are now slowing down around 70 yo and often confront serious health challenges. So we've decided to increase our vacation spending now, even if it means pulling in later on.

Regarding spending, we underspent our baseline plan the first 2 years, in large part due to financial jitters and a stagnant stock market at the time. This year, we increased vacation spending towards the max end of the plan, encouraged by the rising market and the realization mentioned earlier that our health and energy are not likely to improve later in life.

As for w*rking, I don't think I've ever go back willingly. Retirement is far more fun, meaningful, and yet relaxing.

Despite having all this time, my introvert self must still plan for alone time or time just with DW. We have church and friendship commitments at least 3-4 times weekly. I still need to be mindful to make sure I have enough stuff each week that recharges me.

 

[Focus]

As for w*rking, I don't think I've ever go back willingly. Retirement is far more fun, meaningful, and yet relaxing.

I realize work is a four-letter word here. Maybe we need to think up a new term. I'm talking about light "work" that doesn't feel like work and isn't related to the career you retired from. Something you might even have chosen to do if no pay was involved. With a flexible schedule you have control over (no mornings, in my case) and a limited number of hours (say 10-15 hours a week). With little to no stress and nice people.

 

[DEC-1982]

Retired for less than 3 years.

#3, agree with #3.
#1, total expense jumped more than planned, mainly due to healthcare. Perhaps my future expenses will less than my current budget. We'll see.
#2. Disagree. I think we need interests to keep us meaningfully occupied, not necessarily work. based on the common definition of work.

 

[street]

My experiences only been 16 month's worth but I'm living #1 through #3 and have nothing to add.

 

[ExFlyBoy5]

As far as w*rk is concerned, if someone else tells me how to do it, when to do it, and I can't put it off indefinitely, then I ain't doing it...volunteer or otherwise.