Retirement, any regrets

[Shenron]

I have so much I want to do with my time I'd retire immediately if I could. As things stand, I may never be able to retire. If I can keep my current job, though, that will be okay. I love what I do.

I'm in the same boat. If I didn't need to work, I'd still be doing what I do. No fear of boredom because I am interested in way too much. Luckily much of those interests are not physically demanding.

I share the feelings...

I have lots of interests that I keep neglecting and postponing due to lack of time. Boredom would never be a problem of mine.

But here in Europe life keeps getting more and more expensive, while practically every government cuts social funding a bit more every year (public health, education and pensions), so I am starting to feel I might never be able to afford retirement, will have to even increase working hours to keep up with the costs of living, and would eventually transition directly from my desk to my grave...

 

[Peteyboy]

I've spent my whole life playing in bands, but have never made enough $ to support myself (let alone a family). So day jobs always. I'll likely drop dead in some beige office with fluorescent lights and a "Hang in There" poster.

 

[Wasnex]

IMHO it's a mixed blessing. There are things I like about it, and things I don't.

 

[Pep]

I have so much I want to do with my time I'd retire immediately if I could. As things stand, I may never be able to retire. If I can keep my current job, though, that will be okay. I love what I do.

I thought I could never retire. I didn't retire with a lot of money put back.The good news is everything is paid off so I have no debt. Also, I haven't had to touch my retirement funds and it's been 6 months.
The key is to have everything paid off. Once that's done you can easily put some money away.

 

[Pings Bass]

I'm coming off a one-year "sabbatical" and heading back to work next week. I really got used to the lifestyle, played a lot of music, did a lot of skiing and climbing. I'd happily retire if I could afford it. I'm putting in another 5 years before I can take medicare and FERS and tell all the bosses everywhere to kiss my booty.

 

[Rfan]

Your retirement sounds very nice. My plan went south but I did not. No longer interested in traveling, Mrs R fan is not one to eat in restaurants, band days are over due to being just short of deaf. I have played a little golf. Other than that working on the house. Probably will look for work after my projects are done. Somewhere along the line it was ingrained in me that I am nothing without a job, for some reason I can't shake that. Just killing time here while the Mrs. wraps up some business. I would much rather be on the clock.

 

[Nedmundo]

My wife retired three months ago (age 56), and so far she's very happy about it. We've had a lot going on, which has kept her busy and occupied, including an arduous recovery from her knee replacement surgery, our older daughter's wedding, some travel, working on the board of a non-profit, helping her brother prepare for a possible divorce, etc. In the past couple of weeks, she's started to go into new things, like writing short stories, and I think creative pursuits, working with the non-profit, and helping family members will play large roles in her retirement. No regrets whatsoever.

I've finally embraced the "semi-retired" label (age 58). I've been mostly part-time for years and haven't worked at all for a few months, and I won't be working again until November. I plan to teach a law school course next semester, which will get me out of the house, keep my mind sharp, and give me time with colleagues who are old friends. (Plus, as former full-time faculty, I get paid double the usual adjunct rate.) I plan to keep that going until I have good reason to stop, like grandkids. With part-time teaching, music, volunteer construction/carpentry work through a non-profit, and helping my elderly parents, I have plenty keeping my occupied.

 

[Rfan]

Some people live to work, instead of work to live. I was once like that, was always available, went in early and stayed late, etc. That as until I was downsized at age 53. That alone changed my perspective on retirement.
I retired in March and I absolutely love it. No pressures at all. Go out to eat a couple nights a week. Go see a new movie each week. Sleep in if I want. Play more golf. Spend valuable time with my spouse and getting to know each other much better and it's been great.
You can't just retire without a plan of what to do with your time. Sit down and make briegpf outline if thing you, and your spouse, want to do.
I went on my first cruise. We have some dates to go out of town for a few day to attend some concerts. We're going to Nashville on Monday to see Eric Clapton.
I'm wanting to go to Cleveland to the R & R Hall of Fame and then up to Canada to visit a Dingwall dealer in Ontario.
The list keeps building up and I'm having a blast. You should be too!

Your retirement sounds very nice. My plan went south but I did not. No longer interested in traveling, Mrs R fan is not one to eat in restaurants, band days are over due to being just short of deaf. I have played a little golf. Other than that working on the house. Probably will look for work after my projects are done. Somewhere along the line it was ingrained in me that I am nothing without a job, for some reason I can't shake that. Just killing time here while the Mrs. wraps up some business. I would much rather be on the clock.

 

[bassicmike]

Nope. Not in the least
Been 4+ years now. Every day is awesome when one doesn't have to go to work.

I recently retired basically because of peer pressure and spousal pressure. I am having buyers remorse. Anyone else feel this way?

 

[JazznFunk]

Somewhere along the line it was ingrained in me that I am nothing without a job, for some reason I can't shake that.

That's exactly how they want us to feel, unfortunately. We definitely are more than our work - even if our 'work' is music. Good luck.

 

[SunByrne]

For most of my adult life I never really considered retiring. I'm in a career where working right up to the end is very common, and that's the way I always thought I would go. This may have also led to some less-than-optimal financial decisions regarding retirement, but thankfully nothing too disastrous.

But now I want to retire. I mean, I don't want to retire right now, but now I do understand the desire to do so, and I'm now starting to think about a timetable (again, not soon, but not never). Like if I won the Powerball tomorrow (not that I actually play), even then I wouldn't retire for a few years, but it would accelerate the schedule (and my Sweetwater guy would suddenly be very happy).

Interestingly, playing bass is no small part of this. I didn't start until I was 49 and having a hobby that I am now really into has certainly made the idea of retirement dramatically more attractive. The idea of being able to compose and practice for as long as I want every day sure sounds like fun to me. I know some days would be a lot and some not so much, but the idea of having that flexibility on a daily basis has a lot of appeal.

 

[Joebone]

Great thread! A lot to think about. l'm now 68 and have been cutting back gradually on the second-career day gig for several years, which is facilitating transition among my clients (union-side lawyer in boutique firm) and successors. Now down to about 20% time but still have 40%-50% of the worry, so likely to wrap at the end of this year. Have been disappointed at my inability to fill downtime with aggressive recapture of musical skills (pro trombonist from 1976-1988; aspiring bassist since around 2006), but am taking better care of my physical self, and continue to have some sort of band/bass thing going, which has been the case for the last 10 years. Retirement money is fine so long as we're not stupid or the world doesn't go to Hell - way less $$ than if I'd gone the corporate law route, but capitalism for its own sake is not my thing. Wife retires at the end of this year. It will be interesting to see how this all spins out...and gonna look at the book recommended by Monster Thompson, above...

 

[DionClassic]

I thought I could never retire. I didn't retire with a lot of money put back.The good news is everything is paid off so I have no debt. Also, I haven't had to touch my retirement funds and it's been 6 months.
The key is to have everything paid off. Once that's done you can easily put some money away.

so you're saying buy all the custom shop basses now and pay them off before retiring? or retire with no debt and buy all the custom shop basses? asking for a friend...

 

[Altitude]

My firm has a mandatory retirement age for partners. I'm 6 years out. I don't plan to stop working at that point but if finances permit I'd like to do something different, ratchet down the level of responsibility, or both.

It's actually nice to know when that decision is coming, timing wise.

 

[Gorilla Monsoon]

I tell this to anyone considering retirement, those who can, but are playing that game of "how much time do I have left, and is an extra few hundred dollars a month worth it?" …The most valuable thing you have at this point in your life is your time. It is dwindling at an exponential rate. They're not making any more of it. Do you want to spend your most valuable commodity working for someone else, or doing whatever you please in the twilight of your life? Unfortunately, an acquaintance of mine who worked for the same unscrupulous conglomerate died suddenly three weeks ago. I had been on him, tryna get him to retire early- in his case, the man was 64, holding out to 65. High stress job, night work. Gone. Like a train.
No ragrets here. Took the 62-1/2 option, I dont lose hypothetical money until I reach 72, at which time, I will be getting $700/ month less. That was four years ago and the wear and tear of aging is catching up with me. I don't know if I will reach 72. No one is guaranteed tomorrow.

 

[Rfan]

If you can afford to retire .........do it . If you enjoyed your work and the people , then you should have stayed.........? I did not stay one minute more than I had to , zero regrets .

I did like the work and the people. I also liked being told what needed to be done and doing it. I have generally been one to follow directives as opposed to figuring out what needs to be done. I am better off following directives .

 

[superiorpine]

My late insurance guy used to say "you don't retire from something, you retire to something." Some people love it, some struggle with it.

Personally, I'm on the "glide path" gradually phasing out of my traditional professional work. As with many retired people I know, I can hardly find the time to do the necessary chores of daily living, and wonder how I did it when I was a full time person.

Like most of us here, bass is a big part of what I occupy my time with now. The unanticipated challenge is that my bandmates are dropping like flies from health issues. Never thought about that. Time to find some younger players who agree to work with grandpa!

 

[friskinator]

I'm only 51, but after 4 months of unemployment after being laid off, I've been joking with my wife that I may as well go ahead retire and be a househusband. I've applied for hundreds of jobs in the last few months with almost no responses. This job market is truly brutal.

 

[VeryTallBassist]

Good for you! I am also a late starter - my boy is 4, I'm 44 in a month. Very happy to have more life experience than my friends who had their kids in their teens and 20s. I don't take myself too seriously and can better balance the short term and long term consequences of choices - I think he gets a pretty sweet deal!!
I do often need a little afternoon nap - especially if gigging the previous weekend!!

Mine's the same age. He's about to turn 5 next month, I'm about to turn 49 in December.

 

[Super Bass]

59 and I love the job I have! No plans on retiring yet....