The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Credits goes to " Izella Annette Anderson " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I retired at age 62, I am now 67 years old. The first 15 years of retirement will be the best 15 years of my life. I am still physically fit, I have plenty of time to enjoy all my passions, and enough money that is not a worry. An exciting chapter in my life! My dad lived to 96, mom is alive at 102, so I am hoping for a long retirement.
I agree. I retired almost 2 years ago and will always appreciate not having the Sunday downer feeling. I was a teacher for 35 years and Sunday nights were always a problem for me. Loving my life.
I retired on July 1, 2022 at the age of 58. I worked 35 years in healthcare as a respiratory therapist. I had always thought I could work until I was 62-63, but the pandemic changed all of that and after discussing with my husband and our financial people, we realized I could retire a lot earlier. It saved me-I worked in a hospital right over the border of New York in CT, and we got completely slammed. It was brutal. I was proud to make it to my 35 year anniversary (June 8th & my retirement party that my coworkers held for me was the next night!) but was literally dragging myself over the finish line. I'm thankful that my husband and I learned good financial habits from our parents and always lived within our means. I suppose I'm still in the Honeymoon phase....shedding the stress of work. I have interests and have taken many online courses. Thanks for the very informative video.
Cancer at 27, will I last 5 years? Well yes, 55, then up to 60 and retired. Approaching 70. In retirement, I'm trying to forget I lasted 35 1/2 years seniority. More time for hobbies. genealogy research, photography, reading, more regular exercise, and realizing some interests of a younger age are now dropped. Sports is for the young and professionals. Learning french as a new language, I have ancestors that lived in southern Quebec, one was in the American Revolution and at Valley Forge. More to write, but life is interesting and enjoyable.
aye, I know a lot of people that use 'em...and none of them are doing as well as I am doing it myself. They pull their percents out of your balance even if they lose you money, and that has everything to do with it. For them, it's a win/win even when they fail, for the people whose money they are managing, it's the equivalent of lower highs and much bigger lows since the fees are consistently coming no matter what.
@@zarroth That is the problem. The retiree could be on the loosing side when the market is not doing well and needs the money for daily expenses. The financial advisor fee makes it worst in this situation.
I retired 7 months ago and am still in the honeymoon phase. I have more money then I will ever need and strong family and friend relationships. I have several hobbies I enjoy doing, plenty of yard work on my land, and volunteer at church. You never know what is coming but my trust is in the Lord and He will provide.
Interesting to read everyone's comments here. Certainly brings to light one fact - everyone's circumstances are different. You have to make what works for you...work for you. Im four years retired from DOD (civilian). Wife and took SS at 62. Living on that and my pension. Haven't even tapped the bulk of my TSP (federal 401K). Moved to the house and farm I grew up on. She battled Non-Hodgkins Lymphoma in 2022 and doesn't need treatments now. Fixed up and sold our previous home. Helping our four kids and loving our four Grandchildren (15, 11, 22 months, 5 months). Enjoying every day while we can. God has been good to us.
I was in something of a pressure cooker prior to retirement, working crazy hours and had been told by my Dr that I was killing myself. I can't say the first few months were anything like a honeymoon phase; in fact, it took me fully 6 months to decompress and not wake up with my heart pounding, convinced I had missed my alarm, and unable to fully enjoy the long yearned-for time to work on my land, do renovations inside my house, and spoil my beloved dog. Eventually, hours spent on a tractor, pulling a big mower deck around and long afternoons with the dog on the front porch watching thunder storms brought me to a place of gratitude and acceptance that reconciliation of the grants, audits by the EPA and the dreaded year-end closings were no longer any of my business. Life is good.
I am an introvert and retired 3 years ago and am loving getting to be alone so much. I feel so much more relaxed. My husband is 5 years younger than me and still works. Although I love when he is home, by the end of a long weekend I am excited to have my alone time! So many doctors and retirement experts think people who retire need to get involved in things but I think introverts and extroverts should approach retirement differently.
As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
My CFA, Amber Dawn Brummit , is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
My CFA, Amber Dawn Brummit , is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I retired early at age 63. I was able to do so because I was in a very good financial situation and had other things I have wanted to do. Since then I've written a novel, learned a new language, traveled a great deal, and met a wonderful life-partner. So you see, a lot can happen in retirement.
At 71 and retired for three years I have been going through the exciting times of my increasing physical limitations and adjusting to new aches and pains that are new to me. Glad to still be alive but know that the future hold more of the same challenges. Thankful that I am not having to work with this new body specifications that are handed down to me. Grateful for the time that I do have. Just wish I was able to do more with my body that I used to enjoy.
Yea at age 62 ....I slammed the door on an International Engineering / Construction career and never looked back....immediately embraced being a Gentlemen of Sophistication and Leisure....Beach life/Art/ Music/ Fitness / Reading/ Travel activities...my choice of solitary hobbies provides a flexible structure to my day and made dealing with the heath issues & pandemic much easier.
This is very optimistic. The stage you chose to skip is the stage when your health becomes an obstacle in your enjoyment of retirement and it can show up a lot earlier than you expected. That will mess with all of your “well planned” retirement goals.
Or the health of your spouse. I went straight from working full time to taking care of my husband after Covid. No regrets. Glad it could be me, but have nor been able to fully enjoy it the way I thought. I am grateful that we are able-bodied to live and enjoy each other
stop eating processed foods and your health won't decline in the first place until the very end. The standard recommended diet is a lie, high meat, high fat is the way to go. There is a reason you rarely see anyone overweight or sick in photos from 1980 and prior...but you see them everywhere since the advent of the food pyramid in the 80s.
Agree! That was the hard time for my parents. My dad retired at 58 and had a good 20 years until his health started to fail. The possibility of him needing to go somewhere for long term care (and most of my parent's income going with him) weighed heavily on my mother. I think the stress she felt for to that contributed to her passing before him.
I’m in phase 3 which is I think most difficult. I also moved from one province to another. Which has become more challenging and more stressful. I hope I will overcome with this stress
We are fully retired in our 70s. And financially secured with excellent medical coverage. We went thru various stages too but the biggest one was adjusting our spending. Perhaps the hardest was getting down to just one vehicle. Now we wonder if even need a car! Our groceries are delivered, we could always pay for uber to transport us for medical appointments. And our home has no steps at all. A nice pool with citrus. And landscaped. We hire a pool company and landscapers for regular service. And pay every bill electronically. Finally, we live near Phoenix Arizona so we have super climate year around. Hot summers are not a problem, we turn on the AC which does its job. So, as retirees, live is good. Pulled Pork for lunch today. Chicken tomorrow. No problems yet. We hope to hit 100.
@@KatherineNalley Have I noticed? Yes I have. I heavily read foreign and domestic news. Seven newspapers most days. American news is controlled and censored when compared to foreign press. I no longer say anything as I might be seen in an adverse way. You tube is no different. But I like you tube as a subscriber because it represents yet another 8th source for opinions and news. How about you?
6 years retired now and I find there are so many more relevant things to do with my time than the old career. Genuinely I think our culture overworks folks and this robs so many folks of the opportunities to balance out their lives...we work to live, we do not live to work.
Great info sir. It has taken me 3 years to adjust to retirement. Been tuff at times for sure. just calming down from a job that was extremely high stress. (life & death job) to nothing!
I retired 6 years ago, but I still work part time because I love my work! We travel more and spend the cold months in AZ or FL. We also take 3-4 vacation trips a year. We both are healthy and haven't needed to even tap into our retirement accounts. We been married 47 years and I turn 70 in July. We love to engage in ministry work and take frequent mission trips, as well.
We want to spend a month or so a year in Phoenix but ABNB is so expensive! We have kids and grands there. I wish there was a way around these ridiculous rental fees.
Retired at 68. One of the best things I ever did. Been retired for 8 yrs. and I can be in the rut that I tried to be in for years. My wife and I travel with our camper as much as we can. I've taken up wood carving. It's nice to go out in the morning and have my cup of tea and watch the animals when we re camping. When home I work on the yard and the camper. I like being a hermit. having had to deal with entitled people for years. My wife volunteers for a number of things to keep busy. Being a veteran I use my VA benefits which to me are great and cover me all over the country.
Retired during Covid, including two Covid winters, definitely messed with my stages. I got a bunch of deferred house projects done, like a new kitchen floor, because there was nowhere to go. Glad that's behind me. UA-cam is a wealth of DIY info.
Going to four different elementary schools helped me early on to recognize stages in my life. I lived 3 - 4 different lives in college. I lived different places, went through different stages in our business. Fortunate to say that the steadiest part of my life has been my marriage, approaching 40 years next year. I retired over a nine year span, closing our business after 29 years, working for someone else, gradually going part time. Our income varied widely over the years. Retirement will be a series of stages for us too. I have been training my entire life to adapt to opportunities and setbacks. As I look back, I believe I am more prepared with each day for the future. We are ready to embrace it.
Great video. I am/was a teacher- lol. I retired in 2017 from a school district after 31 years and relocated. The retirement lasted eight months then I went to work part time in retail which ended up going full time two months later. I decided that I would go teach again if I was going to work full-time. So, in the fall, I started teaching again. That has been the routine the past six years. Now, at 62, I have decided to retire at least to part-time service. What is difficult is that my extended family are strangers at this point. My immediate family, and me, never took off work or traveled the distance cross-country. We were duty bound to our work and rarely took trips spending our off time around the house dealing with undone tasks and using funds to replace/upgrade versus travel. I am not sure that I can break the mold. I love to travel but there is something of a guilt when leaving the house- it may sound strange. I won perfect work attendance for most work years- just did not miss work. I say all this because I am not sure how the transition to no work will be for me. My current supervisor already spoke to me about working part-time. Perhaps the partial change will be a good "slide" into a new phase of life. The financial of it is that part-time I will have about the same income as working full time. That is a plus that comes from pension, social security, savings and salary. I remember when my friends and even some family made fun of me choosing to be a teacher. I started at $18K a year while a family member and friends were hired at $30K or more the same year in 1985- '86. I am the only one with a pension; however, two have nice nest eggs, one has nothing but bills and one died. The bill laden one is jealous of my pension and thinks it is unfair. I remind them that I worked for years for quite a bit less without the additional savings capacity and don't own a bunch of toys or big house. I am thankful for the pension but it wasn't easy staying put for years with much to put up with. Each of us definitely has a different path toward and throughout retirement.
I too am a retired teacher (Algebra). It wasn't long before I missed the kids, so now I sub in the Special Ed programs at a couple of nearby schools. Great way to pick up some extra spending money and a way to get out of the house. Hopefully, every now and then, I can make a difference for a student.
I have so many projects that have been put on hold because I'm still working. Some of them won't be as easy to do because of body aches, arthritis onset and eyesight changes, but at least none of them will be expensive. I've shelved the idea of traveling once I retire. Thankfully, I did a lot when I was younger and could really enjoy it. It may have cut into my saving for retirement at the time, but I have no regrets. Those experiences were priceless. Now, I have no enthusiasm for travel; the world is not the same, and if I did go it would now be with a tour group which really isn't my thing. I know the hardest part of retirement for me will be the fact that my work is a big part of my identity. I have been lucky to be in a job that I love for so long and one that gave me great satisfaction and a sense of fulfillment.
All the best and good video. In my opinion it is still a good time to invest in different stocks like gold, silver and digital currencies. This is one of the most important skills to learn and everyone should invest instead of saving. Some may agree, some may disagree. My big compliments to Natalie Rose Strayer for improving my portfolio!!....
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I retired at 57, 6 years ago. My wife and I saved and invested early allowing me to exit the workforce when I did. She stayed home after our first was born and has not worked since (24+ years). House is paid off, kids college tuitions fully funded, have two late model cars fully paid off, travel extensively and do not forsake anything we need. I actually have more income coming in today than when I was working. We are not special and believe most people can do this with the appropriate level of planning and discipline. The key message I would communicate to others is don't delay retirement if you have the financial wherewithal to do so. Too often I have seen many people delay retirement and then experience health issues which constrain the very things they wanted to do post-retirement. Moreover, the most significant benefit of retirement for me is that I no longer have to deal with people I do not want to. That has proved to be the ultimate blessing.
We had a good plan, company layoffs forced retirement before full retirement age so no honeymoon period - directly into reality check for a few weeks. Did the refocus and plan adjustments and went into new normal in less than a year of the layoff. Was able to do part-time work so didn't take Social Security until 70. All is good!
Being life long frugal spenders + always used a budget, the spending transition was a non-issue. And bored? Other than school class or meetings at the office, I’ve never been bored. You make your own interests. The biggest adjustment for us? Settling into a new schedule of being together more of the time. Our solution - acknowledging we had outside interests before retirement and continue to so. We encourage time apart as well as together. That time apart could be exercise, getting together with friends, or other interests.
Good video. Been retired for about 2.5 years. Retired as in “accumulation of monies” stage. Now, it’s the Permanent Retirement “accumulation” stage. It’s the most exciting and fulfilling stage: “Seek First the Kingdom”; “Climbing the Mountain to God” Total fulfillment. Nothing less. That’s a goal worth seeking. And it’s wonderful.
In order to buy cheaply, I'm waiting for a housing crisis after selling a few houses in 2020. I've been considering buying stocks as a fallback. Do you have any advice on when is the greatest time to make a purchase? On one hand, I continue to see and read about traders making more than $$$k per week. On the other hand, I constantly hear that the market is crazy and in the midst of a dead cat bounce. What causes this?
It is true that the US stock market had been on its longest bull run ever, thus the widespread panic and frenzy is reasonable given that we are not used to such unstable markets. However, as you pointed out, there are possibilities accessible if you know where to search; in the past 10 months, I've made over $$$k, and it wasn't a difficult plan of action. Because I understood I needed a solid and reliable strategy to navigate better in these times, I hired a portfolio counsel.
I tried researching new strategies to benefit in the current market because my portfolio has been in the sewer for the entire year, but whatever I tried to do just missed the point. Would you mind letting us know who your investment advisor is by name?
My CFA Stacy Lynn Staples", a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
We are fully retired at 67 in Nov. 2023, we have excellent retirement income, great medical insurance, great family and great friends. We’re doing a lot of volunteering and working on our eternal life. Retirement can’t be better. God Bless Us all.
I worked since I was a teen, and I love retirement. I worked hard and retired with 2 pensions, an above avg 401k and took ss at 63. I am weathering the economic instability and can actually save quite a bit each month. My biggest regret is going into retirement with pets. They hamper your ability to just pack and go on a trip. I love my pets, but they do hold me back.
Boarding costs for pets have increased steeply in recent years and can be the most expensive part of traveling. The only saving grace is that it’s somewhat easier to travel with pets than it used to be.
@@jimk1050 Nope, gave up RV life. Got tired of hauling a house around, gas costs and RV park prices that come close to hotel prices. So much easier to bool a hotel or VRBO get to our destination and carry a suitcase in and enjoy the evening. No more backing an RV, leveling, rolling out awning hooking up electric, sewer and water. If you enjoy that more power to you.
Retired a little over two yrs ago.A big day for me is going to shop at a nearby Krogers i can walk to and deciding which beautiful hiking trail i will walk in the afternoon that are right out my door.After over 35 yrs long haul trucking im very comfortable in my low stress bubble of luxury.No travel plans at all as i got all that out of my system.Gated community with great recreational facilities.
We have the same with the beach and both love walking since my partner fell her bike and now walks .First thing in the morning is my best time and my partner prefers later ,it is part of our daily routine except when raining . But having a routine is the key and finding out what you love doing whatever that may be.
I plan to divide my retirement into just TWO stages: 1) Mobile, and 2) Immobile. In the Mobile stage, I would travel, visit family members, cross off the bucket list, etc. As such, I would need more money. During the Immobile stage, I would settle down to a place with a low cost of living and a good healthcare system, not necessarily in the US.
If you get sick and have a few emergencies see where that big pile of savings goes so look down on those who are old and broke it can happen to you too.
@@johnscott2746. Yeah, but insurance blows. Now that we have the bean counters running our health care system and denying treatments and prescriptions from doctors, insurance is useless. Plus, they pay sh!t… the bills are so huge that you could go broke just paying your share as a patient. This is the only First World country that doesn’t offer health care and higher education to its citizens. It’s an embarrassment and a travesty.
Two years retired now. Didn’t plan for arthritis in my hands and knees so no real honeymoon. I bought a fixer upper in rural FL the year before retirement, my fix up costs have been much higher than expected since I can’t DIY as much as I planned. Pension and def comp now, plan to take SS and tapping IRA at 70. I followed all the rules and maxed out retirement and deferred comp the last 15 years. Unless I start to gamble or go crazy we should be okay financially. Hopefully can leave my millennial daughter a lifetime paycheck via trust or annuity when we pass.
I've experienced 3 phases. I just never have time to catch up with everything that I'm doing . Never had time to notice much change from when I was working.
Retired for 13 years now. The 1st 5 years prior to Medicare age were a budget challenge, but then it's like getting a big raise. Then SS. Then both repeated for my wife. Volunteer with 4 different organizations with widely varied time demands. Traveling that we couldn't afford while working. A couple new hobbies that require time and money. Gardens are bigger and look better cared for. No debt, no payments, still saving a little. Bottom line, doing more, things I never had time for or couldn't afford. Looking through the calendar, I don't know how I ever had time to go to work. 🇺🇸 Still planting trees.
Planting trees may turn out to be one of the most important contributions one can make to the world. And they certainly make a big difference in the old electricity bill!
Great content. Retired 4 years, lucky to have a great pension plan. Worked hard for 40 years. Think I’m in the New Normal Stage. Very happy with life. Exercise. Travel. Etc. Think my favorite thing is allowing myself to to have “lazy slow days”. I finally stopped having work dreams 2 years ago.lol.
Planning, planning, PLANNING! We planned for years what we wanted to do as soon as we retired (or I got a layoff). During the first years of retirement we planned what our next adventure would be. When we slid into that, we planned the next options. All this planning helped smooth out the unexpected bumps along the way! FYI, retired in 2004 and still having FUN!
I did the "planning phase" in 2021... after my employer gave the freedom to choose between a Job or a Jab, i retired with less than one month to decide .... now i am on The F#&! All Phase ! The plan i "envision" has changed due to the economic condition of Our Nation and gaining more knowledge, i am my financial planner. Now we travel 3-4 months a year and take a few cruises a year . I have moved enough money into Dividend Paying Etf's to fund our travel and pay our household bills before i had Dividend paying stocks. That was a mistake on my part, both from the ones i pucked and going for a higher payout, lesson learned. Best of luck to everyone !
I'm mid 40's and have been in a semi-retirement for the last 6 months. I'll re-enter the workforce soon, but I'm certainly enjoying the free time right now.
If I look at those stages as generalizations, I think they are fairly good. I' ve been retired for 14 years now, and this year my Soc Sec has gone up to a thousand a month for the first time. Things are looking up now!
In the "new normal", you adjust your life and expectations to create financial and social stability. Unfortunately, age makes our lives increasingly unstable. As our parts wear out, and our social support dwindles, we are constantly forced to adapt to this new reality; and cope the best we can. I find resilience, faith, and patience are the most valuable tools at our disposal.
I had an opportunity come up to sell by business at age 57 within a week I was retired, being a mechanic i took in a few side jobs for a while but after ten yes i stopped wrench turning. Now i go to the gym and walk the dog. It is my first dog at age 64. Now i am 68 and Bodie is 4.
Retired at 58. I wanted to make sure I could still learn surfing properly. I now spend all my long winters under the sun in the tropics. But yes, still in a shifting place because of my last child finishing high-school and therefore we are in-between 2 places. We leave this city next month for good. Once fully at the other city I will start probably to look for a summer part time job. I mostly focus on my finances (and health) until then.
Interesting perspective!Learning to adjust to new normal . Planning helps to move forward in the head. Had a bit of honeymoon period but came back down to earth to cut down on expenses and learning to be more frugal. Best hobby for me was to take up gardening.Simplifying life and looking forward to downsizing. Think I have another 20-30 years to go. Coming to terms with the new normal.Happier overall. Alhamdulillah. Take one day at a time and tackle things step by step. All at my own pace. Do what makes me happier .
I feel retirement has been relatively stress-free for me because I transitioned into it slowly after 45 years of working full-time. I had an injury in 2014 that put me off work for nearly two years. After that I did go back to work, but just part-time. Then in April of 2017 I took the plunge and, other than volunteer work, I've been fully retired since then. I do have several hobbies....sometimes I think I have too many! IMHO, my hobbies have helped me to not experience loneliness (I live alone), and keep my mind/body active and engaged, which the older I get I see just how important that is to staying vibrant and healthy so I'm able to make the most of these years.
Retired at 51. But I'm different than most people. I got cancer at 30 and during the 5 months off (with a week a month of tremendous misery) I had time to think and realized I wasn't getting anything out of work except money. I lived on half of what I made and hit my numbers at 51. My retirement is frugal but I have had *years* with my grandsons who barely knew me when I was working. I've had fun little side gigs, done volunteer work, and lots of skiing.
I retired from the military 23 years ago and recently retired from my federal job. I had a great job and worked with awesome people…but it was easy to transition to retirement. I think I hit your phase 4 by the end of the first week of retirement. I’m ready to change things for the long-term fun part of my life. I’m not looking at my retired days just doing more of what I did on my “off” days. It’s different! I guess my main goal is the “get serious about having fun!” I’m ready for phase 5…NOW! Life is too short…need to get busy living and having fun!!!!!!!!🎉😊
I have not retired yet, but I'm already concerned about "The reality check phase". Not so much concerned about the money, it's losing my purpose. Really. It doesn't help that I lose my partner several years back. In fact that is a big part of the concern.
My path into retirement was a long winding road. After leaving my corporate job in 2012 at age 51, I traveled for a few years, went to culinary school, worked part-time as a chef/baker for 3 years, then started a home-based business during the pandemic reselling vintage clothes/decor. Now age 63, I'm financially secure via Social Security, a pension and business earnings. I'm even expanding my business by sourcing from international markets during my travels to Asia and Europe. Am I truly retired, or just self-employed?
What happens when you know that as soon as you retire you will immediately be in poverty and no one to help you. I am 71 years old and still working because I am afraid of what my life will be.😢
It took me 2 yrs. but just last week I once again heard the mention of TGIF and while driving and I realized that I no longer get that great sensation anymore. Mainly, because i really don't know or care what day it is anymore but it was an epiphany, I truly miss that feeling.
Titles you use for the 5 stages really describe it. I'm in Refocus stage, lining up what I thought it'd be like to what it is like. Only difference is just not going to a job. All repairs and maint. on vehicles, house, appliances, plumbing, construction, yard, etc., fills the other hours as normal. The 50+ job hrs a week I'm still trying to fill. Not expected: businesses saying "no" to what I want to do and if they do offer anything, it's for non-active people or people to become feeble. Other Issues: With one hand I was carrying a 45lb rented kayak and was stopped from carrying it because "You might hurt yourself". The person who stopped me and another, carried it. A third helped them lift it on the rack for storage. 🙂
My wife is retiring this year. I’m going to keep working a couple of years so we don’t get on each other’s nerves, as I travel with my work and we are accustomed to our ‘alone’ time. We will have a couple of years to ease into it, and still be making extra ‘fun’ money. I truly enjoy my work. I feel paid to do my hobby.
My plan for retirement turned out to be a winner. Marry a woman decades younger who loves to work overtime! I am never out of coffee money. It has worked till age 70 and still working! But my friends say.....it won't last forever. The biggest challenge for me was the loss of social contacts at work and the respect I had at work for being a valuable and competent member of a team.
That hasn't worked for me. My younger wife is jealous of me being "retired"....and not her. Plus, she's making the "big bucks", and wants to continuing blowing her money just to "see the world"! I can not afford throwing my money away anymore... And I don't enjoy "seeing the world" anymore. I prefer to just explore seeing my country, my family, and explore "me". Cheaply! If my wife had her way, I think she'd prefer that I work till my grave. I've learned about "retirement"! My part time job is the best "therapy" that I can get!
Im in stage 3 and i have not even retired from my job yet. I'm 54 and i could retire now but I'm just to scared to do so. I just made a deal with my employer where I can cut my hours but I cant just disaster as part of the deal is that if someone calls in sick i need to come in to cover the shift and when people use vacation time i cover a good amount of the time. The benefit to me is I keep my full benefits as if I was still working full time and I have a small income just to keep from depleting my savings to fast. Im going from working four to five 12 hour shifts to two 12 hour shifts if I am not called in to cover shifts or cover others vacations.
COVID was a horrible tragedy but the silver lining has been the availability of remote work in some professions. In my field, we jumped to a place I honestly think would otherwise have taken 20 more years. I'm 70, still working, and in another year plan to convert to a consulting position with my company in an hourly rather than salaried position, with hours reduced by more than half and flexibility for unpaid vacation whenever. This would not have been an option preCovid. If I still had to commute 5 days a week I would have quit 3 years ago. I'm grateful for these new options. I don't have to draw a hard line between work and retirement now. half
At 62, I'm retiring from public high school in 4 weeks. Both happy and worried at the same time. Moving 1500 miles away on day #1. Losing identity and relationships are the biggest concerns.
I am getting my first SS deposit this month. I am glad I am getting SS but I know I will need to work a part-time job. The last few months I have taken a break from looking for a job but I need to get back into the swing of things.
Thank you for this video. I've been retired 4 yrs now. Great eye opener to be aware of and make proper adjustments for upcoming age. I will share this with several of my friends and family. Thanks again.
My husband is retired with two pensions, s.s., and savings. I still work a remote job that I love--and plan to work at least for 6 more years to keep socking away money. We're blessed in that my job allows for us to travel--and I have most of my day free. We have four trips planned for this year and two homes in different parts of the country that enable us to enjoy our children and grandkids. I feel "retired" because we are able to do anything we want when we want.
FIRE retiree since mid 2020 at age 45 with military Dental Officer (O-6) retirement pay based on 25 years of service. Plus non taxable VA disability benefits. Zero state income taxes in AK. Married no kids, no ex wives, and my spouse is working FT. Tricare covers all my healthcare costs including surgery/ ER visits. So far I have avoided many of the land mines that prevent ppl from having a happy retirement. My mentor told me there are 3 asset classes in life. 1. Time 2. Money 3. Health. I figured out the 4th. Social Capital. In this case it is the relationship I have with my spouse. He said it is common to have an abundance of one or two of these items, but it is rare to be rich in all four. That became my goal and so far so good as I am approaching age 50. 🙂 My wife calls me a robot. As an INTJ it is true. But, INTJ / INTP personality are make up the majority of FIRE retirees.
I agree with the phases but note that the length of time for each phase can be long or very short and two or more can occur concurrently. After the planning phase I whipped thru the next three very quickly and they seemed to be happening all at the same time. I'm actually in another planning phase now but also have been in the final phase for a while now. Anyway, thanks for the video.
I believe that retirement is different for everyone and doubt that people must go through five phases. Life before retirement is quite different for people, both working and family life are quite varied, interests and goals are different so why would people experience the same key phases in retirement? I don't believe it. For example I have no interest in travel. My work and my hobbies were closely aligned so now I don't work but I still have my hobbies and I have more time to devote to them. I am so happy to not be facing daily commutes in horrible traffic and to let go of irritants and issues that I was not able to resolve. Retirement is still sweet a few months in. Life is full of changes. Having our four kids grow up and move out was a big change. Retirement is a change too but I don't think the change is as big.
I’m not sure if I followed this list of phases. I retired knowing I was going to have to scale back my spending a bit bc I didn’t have a lot of retirement savings beyond my pension. So there were no exotic trips, just a few road trips to visit family. But I couldn’t work another year so I was willing to do it. Additionally, my unstructured day led to drastically increased anxiety even though I have plenty of hobbies and interests and friends. I’ve worked through most of that now coming to the end of my second year. I feel like I’m finally living my life whereas before I was just existing. I work a little bit now and then for extra money when I need, but I love being retired.
The number one issue with retirement is - Will you have enough income to pay your bills. At age 62 I went to a Social Security Office and talked with one the staff. I was told that every day people came into the office or call and say they made a mistake retiring because they could not pay their bills. I had a few staff where I worked come back to work (at age 62) who retired and did not have enough money. Once you retired your Social Security check does not increase when you go back to work, except for cost of living increases. Very few people can live on just a Social Security check. As far as retirement stages, develop some plan as to what you might want to do before you retire such as having a part time job, volunteering, something to keep you active. They euphoric feeling one first gets wears off in about two months and then you have the rest of your life ahead of you.
I retired at 52. Enjoyed myself for 3.5 years, hobbies, traveling, attending all type of caffes, restaurants, friends etc. Then took a 4 hour a week teaching job, gradually increasing work hours, then decreasing until I got it right. One day of 4.5 hours a week is my sweet spot. The feeling of all my accumulated knowledge not benefiting anyone made me feel like wasteful. I have as much free time as I wish, and the job is like adding spice. I surely do not need the money, just for fun.
I'm 30 y/o guy and I've been planning and saving for retirement since I was 22. I remember one older office lady mocking me for it, at the time. But I'm now sitting on some $100K in my 401K with many decades ahead of me in accumulation and growth of the existing savings. I just cannot emphasize how grateful I am for following my logic against bad financial advice.
Looking ahead and being proactive can take some of the 'sting' out of finding yourself in a new situation. We felt that a layoff or transfer was coming for us before it happened and decided that we had worked long enough and saved enough to leave the job entirely. A part-time job could have been looked into, but we still haven't needed to do that, thankfully, and do not think it will ever be needed. Another thing we did was to sell our larger, paid for house that we no longer needed. Considering down-sizing again as most the family lives out of state anyway and we are getting tired of lawn jobs! Maybe we will move into a community for 55+ people, maybe we will stay right where we are. Whatever we choose, it will be our choice and not be a forced move (hopefully) due to declining health. We look ahead and try to avoid 'surprises' if possible.
I retired at 55 and now building a house at 60. Spending alot of our savings has put a big scare in me. Hopefully the drain will stop after it is finished. Still hoping to delay Soc Sec till 70. It might not happen.
Moving from accumulation to de accumulation is stressful. Really does require a change of mindset. For me anyway. Retired at 54 and now 18 months in. Certainly beats working 👍🏻
I retired a few years ago at 42…. Currently sailing the Caribbean full time on my sailboat…. Costing me less than living in the states…. No regrets…. No point in saving money to be dead. That’s what life insurance is for…
3:06 - This "example" would be a bad move for most retirees BECAUSE nobody should trust a financial advisor that (a) Has FAR less life experiences in actually managing their own money and (b) Has NO understanding of what "retirement" is all about. In other words folks under the age of about 40 have VERY little life skills and almost no "wisdom" and their "financial calculators" are rarely accurate at all for any specific cases and they have ZERO "street cred".
My husband was involuntarily 'retired' (let go) from his job after 44 years with the same company. And that dumped us straight into Stage 3. We both hate it. He does nothing unless I give him something to do, no interests, no hobbies, no friends, no reason to get up in the morning. Everyone said, 'Oh he'll figure it out' ... Well it's been 18 months and he hasn't figured ANYTHING out.
How long does each of the phases take, on average? I retired early, in 2012 at the age of 62, and am wondering what stage I "should" be in now, 12 years later. Because I sure haven't let go of anxiety or gotten "most" of the important things done.
This is an interesting video, and I half expected it to address stages starting as "[relatively] young, active and healthy" and ending up with "old and decrepit" probably because I've seen other sites in which people are divided into age groups of about 65-75, 75-85, and older than 85. However, what has been presented could be considered more along the lines of "psychological" stages. I retired 11 years ago, a month before my 61st birthday, but had originally planned to work another year and a half; however, my parents, living 500 miles away, were getting to the point at which they needed help. I had no interest in staying where my job was located, and I actually drove out of town directly from my workplace after finishing my last day at work. Although I'm now in still another area (the sixth state in which I've lived) some 450 miles from my last workplace, I've remained in touch with many people there, along with some that have retired, occasionally visit them, and get opportunities to do some work on a consultant basis. I have found that some people "label" themselves according to their workplace or position within that workplace, whereas I've thought more in terms of my interests and knowledge which are more permanent parts of me that I can take anywhere. Therefore, I've never had an issue with thinking "how can I fill my time?" because I always have something to work on. I'm single with no children, so I don't worry about my "legacy" or try to flatter myself thinking that 50 or 100 years from now more than a few (if even that) people are going to care that I had lived--my scientific work will be what lives on. I have a healthy nest egg, and consistently spend much less than I take in (as I always have). However, I've never owned any real estate, but have thought of moving to the other side of the country (which I tended to visit anytime I had an opportunity), find or have built a small house that will meet my needs without anything I don't need, pay cash for it, and move on to the next "phase" of my life.
My advice to you better enjoy your healthy life while you can. As you get older you will get health issues, pains here and problems with your legs, back.... . and end your abilities to travel and enjoyment!
I retired about four years ago after 41 years of public service. Guaranteed pension for life. I've recently returned part-time to hopefully lessen the burden on the agency I worked for and thus benefit the public; I certainly don't need the money.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@@mariaguerrero08Mind if I ask you to recommend this particular coach you using their service?
Credits goes to " Izella Annette Anderson " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
I retired at age 62, I am now 67 years old. The first 15 years of retirement will be the best 15 years of my life. I am still physically fit, I have plenty of time to enjoy all my passions, and enough money that is not a worry. An exciting chapter in my life! My dad lived to 96, mom is alive at 102, so I am hoping for a long retirement.
Retirement is the time in your life when you finally get to live!! I get up every day and do whatever it is I feel like doing that day!
Oh happy days!
The best thing has been losing that Sunday night downer of awareness that you had to be in the office the next morning.
Same here. Sleeping like a baby every night since I retired 4 months ago.
So true!
I agree. I retired almost 2 years ago and will always appreciate not having the Sunday downer feeling. I was a teacher for 35 years and Sunday nights were always a problem for me. Loving my life.
Nice to know I'm not the only one that wasn't "living the dream" for the 40 years of making the donuts.
Yes! Sunday is so much nicer now.
I retired on July 1, 2022 at the age of 58. I worked 35 years in healthcare as a respiratory therapist. I had always thought I could work until I was 62-63, but the pandemic changed all of that and after discussing with my husband and our financial people, we realized I could retire a lot earlier. It saved me-I worked in a hospital right over the border of New York in CT, and we got completely slammed. It was brutal. I was proud to make it to my 35 year anniversary (June 8th & my retirement party that my coworkers held for me was the next night!) but was literally dragging myself over the finish line. I'm thankful that my husband and I learned good financial habits from our parents and always lived within our means. I suppose I'm still in the Honeymoon phase....shedding the stress of work. I have interests and have taken many online courses. Thanks for the very informative video.
As of today, I'm 260 days of retirement and I'm sooooooo excited and looking forward to this!!!!
I've worked for 50 years and I'm ready!!!!
Cancer at 27, will I last 5 years? Well yes, 55, then up to 60 and retired. Approaching 70. In retirement, I'm trying to forget I lasted 35 1/2 years seniority. More time for hobbies. genealogy research, photography, reading, more regular exercise, and realizing some interests of a younger age are now dropped. Sports is for the young and professionals. Learning french as a new language, I have ancestors that lived in southern Quebec, one was in the American Revolution and at Valley Forge. More to write, but life is interesting and enjoyable.
I’ve been retired for 17 years on SSDI, multiple sclerosis and never needed a financial advisor. Did it all on my own🙂
aye, I know a lot of people that use 'em...and none of them are doing as well as I am doing it myself. They pull their percents out of your balance even if they lose you money, and that has everything to do with it. For them, it's a win/win even when they fail, for the people whose money they are managing, it's the equivalent of lower highs and much bigger lows since the fees are consistently coming no matter what.
@@zarroth I agree. Mutual funds are already managed, so with a little research the correct funds can be bought.
Worked for me.
@@zarroth That is the problem. The retiree could be on the loosing side when the market is not doing well and needs the money for daily expenses. The financial advisor fee makes it worst in this situation.
I retired 7 months ago and am still in the honeymoon phase. I have more money then I will ever need and strong family and friend relationships. I have several hobbies I enjoy doing, plenty of yard work on my land, and volunteer at church. You never know what is coming but my trust is in the Lord and He will provide.
He will provide because YOU did the planning.
Aman.
Interesting to read everyone's comments here. Certainly brings to light one fact - everyone's circumstances are different. You have to make what works for you...work for you.
Im four years retired from DOD (civilian). Wife and took SS at 62. Living on that and my pension. Haven't even tapped the bulk of my TSP (federal 401K). Moved to the house and farm I grew up on. She battled Non-Hodgkins Lymphoma in 2022 and doesn't need treatments now. Fixed up and sold our previous home. Helping our four kids and loving our four Grandchildren (15, 11, 22 months, 5 months). Enjoying every day while we can. God has been good to us.
I was in something of a pressure cooker prior to retirement, working crazy hours and had been told by my Dr that I was killing myself. I can't say the first few months were anything like a honeymoon phase; in fact, it took me fully 6 months to decompress and not wake up with my heart pounding, convinced I had missed my alarm, and unable to fully enjoy the long yearned-for time to work on my land, do renovations inside my house, and spoil my beloved dog. Eventually, hours spent on a tractor, pulling a big mower deck around and long afternoons with the dog on the front porch watching thunder storms brought me to a place of gratitude and acceptance that reconciliation of the grants, audits by the EPA and the dreaded year-end closings were no longer any of my business. Life is good.
I am an introvert and retired 3 years ago and am loving getting to be alone so much. I feel so much more relaxed. My husband is 5 years younger than me and still works. Although I love when he is home, by the end of a long weekend I am excited to have my alone time! So many doctors and retirement experts think people who retire need to get involved in things but I think introverts and extroverts should approach retirement differently.
I’m like you but the transition has been a struggle emotionally.
I agree 100 percent. Plus, let's face it, our co-workers never really were our "friends."
@@Carnegiered52 Join a gym. Many Medicare Supplemental plans include free gym membership.
As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
My CFA, Amber Dawn Brummit , is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
My CFA, Amber Dawn Brummit , is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I retired early at age 63. I was able to do so because I was in a very good financial situation and had other things I have wanted to do. Since then I've written a novel, learned a new language, traveled a great deal, and met a wonderful life-partner. So you see, a lot can happen in retirement.
At 71 and retired for three years I have been going through the exciting times of my increasing physical limitations and adjusting to new aches and pains that are new to me. Glad to still be alive but know that the future hold more of the same challenges. Thankful that I am not having to work with this new body specifications that are handed down to me. Grateful for the time that I do have. Just wish I was able to do more with my body that I used to enjoy.
Yea at age 62 ....I slammed the door on an International Engineering / Construction career and never looked back....immediately embraced being a Gentlemen of Sophistication and Leisure....Beach life/Art/ Music/ Fitness / Reading/ Travel activities...my choice of solitary hobbies provides a flexible structure to my day and made dealing with the heath issues & pandemic much easier.
This is very optimistic. The stage you chose to skip is the stage when your health becomes an obstacle in your enjoyment of retirement and it can show up a lot earlier than you expected. That will mess with all of your “well planned” retirement goals.
Or the health of your spouse. I went straight from working full time to taking care of my husband after Covid. No regrets. Glad it could be me, but have nor been able to fully enjoy it the way I thought. I am grateful that we are able-bodied to live and enjoy each other
stop eating processed foods and your health won't decline in the first place until the very end. The standard recommended diet is a lie, high meat, high fat is the way to go. There is a reason you rarely see anyone overweight or sick in photos from 1980 and prior...but you see them everywhere since the advent of the food pyramid in the 80s.
The routine becomes linked to doctor visits...he completely left that out. 😢
Agree! That was the hard time for my parents. My dad retired at 58 and had a good 20 years until his health started to fail. The possibility of him needing to go somewhere for long term care (and most of my parent's income going with him) weighed heavily on my mother. I think the stress she felt for to that contributed to her passing before him.
I’m 74, and just things like traveling to Machu Pichu is probably beyond me now. Can’t hike all day anymore.
I’m in phase 3 which is I think most difficult. I also moved from one province to another. Which has become more challenging and more stressful.
I hope I will overcome with this stress
We are fully retired in our 70s. And financially secured with excellent medical coverage. We went thru various stages too but the biggest one was adjusting our spending. Perhaps the hardest was getting down to just one vehicle. Now we wonder if even need a car! Our groceries are delivered, we could always pay for uber to transport us for medical appointments. And our home has no steps at all. A nice pool with citrus. And landscaped. We hire a pool company and landscapers for regular service. And pay every bill electronically. Finally, we live near Phoenix Arizona so we have super climate year around. Hot summers are not a problem, we turn on the AC which does its job. So, as retirees, live is good. Pulled Pork for lunch today. Chicken tomorrow. No problems yet. We hope to hit 100.
100👍
Not if you got the...oh, never mind.
@@KatherineNalley Kathy, please continue! Life is too short for being quiet!
Have you not noticed there are certain things that are heavily censored on these internet platforms?
@@KatherineNalley Have I noticed? Yes I have. I heavily read foreign and domestic news. Seven newspapers most days. American news is controlled and censored when compared to foreign press. I no longer say anything as I might be seen in an adverse way. You tube is no different. But I like you tube as a subscriber because it represents yet another 8th source for opinions and news. How about you?
6 years retired now and I find there are so many more relevant things to do with my time than the old career. Genuinely I think our culture overworks folks and this robs so many folks of the opportunities to balance out their lives...we work to live, we do not live to work.
Chuck - that is so true.
Great info sir. It has taken me 3 years to adjust to retirement. Been tuff at times for sure. just calming down from a job that was extremely high stress. (life & death job) to nothing!
I retired 6 years ago, but I still work part time because I love my work! We travel more and spend the cold months in AZ or FL. We also take 3-4 vacation trips a year. We both are healthy and haven't needed to even tap into our retirement accounts. We been married 47 years and I turn 70 in July. We love to engage in ministry work and take frequent mission trips, as well.
We want to spend a month or so a year in Phoenix but ABNB is so expensive! We have kids and grands there. I wish there was a way around these ridiculous rental fees.
Retired at 68. One of the best things I ever did. Been retired for 8 yrs. and I can be in the rut that I tried to be in for years. My wife and I travel with our camper as much as we can. I've taken up wood carving. It's nice to go out in the morning and have my cup of tea and watch the animals when we re camping. When home I work on the yard and the camper. I like being a hermit. having had to deal with entitled people for years. My wife volunteers for a number of things to keep busy. Being a veteran I use my VA benefits which to me are great and cover me all over the country.
Retired during Covid, including two Covid winters, definitely messed with my stages. I got a bunch of deferred house projects done, like a new kitchen floor, because there was nowhere to go. Glad that's behind me. UA-cam is a wealth of DIY info.
I retired about 10 months ago. Yesterday, I changed a light bulb.
Retired 9 months ago and yesterday I scratched my 🥜
🤣
@@wjb111 Retiring next week and already practicing for perfection!
OMG, that was funny! Good one!
And I'll bet you did it with intention and craftsmanship. Heck, probably took a coffee break between turns 2 and 3!
Going to four different elementary schools helped me early on to recognize stages in my life. I lived 3 - 4 different lives in college. I lived different places, went through different stages in our business. Fortunate to say that the steadiest part of my life has been my marriage, approaching 40 years next year. I retired over a nine year span, closing our business after 29 years, working for someone else, gradually going part time. Our income varied widely over the years. Retirement will be a series of stages for us too. I have been training my entire life to adapt to opportunities and setbacks. As I look back, I believe I am more prepared with each day for the future. We are ready to embrace it.
2:02 The plan
3:30 The honeymoon
4:45 The reality check
7:42 The refocus
9:22 The new normal
Great video. I am/was a teacher- lol. I retired in 2017 from a school district after 31 years and relocated. The retirement lasted eight months then I went to work part time in retail which ended up going full time two months later. I decided that I would go teach again if I was going to work full-time. So, in the fall, I started teaching again. That has been the routine the past six years. Now, at 62, I have decided to retire at least to part-time service.
What is difficult is that my extended family are strangers at this point. My immediate family, and me, never took off work or traveled the distance cross-country. We were duty bound to our work and rarely took trips spending our off time around the house dealing with undone tasks and using funds to replace/upgrade versus travel. I am not sure that I can break the mold. I love to travel but there is something of a guilt when leaving the house- it may sound strange. I won perfect work attendance for most work years- just did not miss work. I say all this because I am not sure how the transition to no work will be for me. My current supervisor already spoke to me about working part-time. Perhaps the partial change will be a good "slide" into a new phase of life. The financial of it is that part-time I will have about the same income as working full time. That is a plus that comes from pension, social security, savings and salary. I remember when my friends and even some family made fun of me choosing to be a teacher. I started at $18K a year while a family member and friends were hired at $30K or more the same year in 1985-
'86. I am the only one with a pension; however, two have nice nest eggs, one has nothing but bills and one died. The bill laden one is jealous of my pension and thinks it is unfair. I remind them that I worked for years for quite a bit less without the additional savings capacity and don't own a bunch of toys or big house. I am thankful for the pension but it wasn't easy staying put for years with much to put up with. Each of us definitely has a different path toward and throughout retirement.
I guess everyone has to do what makes them happy, but I find it sad that your work seems to be the thing of your happiness ...
I too am a retired teacher (Algebra). It wasn't long before I missed the kids, so now I sub in the Special Ed programs at a couple of nearby schools. Great way to pick up some extra spending money and a way to get out of the house. Hopefully, every now and then, I can make a difference for a student.
I have so many projects that have been put on hold because I'm still working. Some of them won't be as easy to do because of body aches, arthritis onset and eyesight changes, but at least none of them will be expensive.
I've shelved the idea of traveling once I retire. Thankfully, I did a lot when I was younger and could really enjoy it. It may have cut into my saving for retirement at the time, but I have no regrets. Those experiences were priceless. Now, I have no enthusiasm for travel; the world is not the same, and if I did go it would now be with a tour group which really isn't my thing.
I know the hardest part of retirement for me will be the fact that my work is a big part of my identity. I have been lucky to be in a job that I love for so long and one that gave me great satisfaction and a sense of fulfillment.
All the best and good video. In my opinion it is still a good time to invest in different stocks like gold, silver and digital currencies. This is one of the most important skills to learn and everyone should invest instead of saving. Some may agree, some may disagree. My big compliments to Natalie Rose Strayer for improving my portfolio!!....
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
This sounds so good and I would like to be a party to it, is there any way I can speak with her?
She's always active on Whats~App...
+197
I retired at 57, 6 years ago. My wife and I saved and invested early allowing me to exit the workforce when I did. She stayed home after our first was born and has not worked since (24+ years). House is paid off, kids college tuitions fully funded, have two late model cars fully paid off, travel extensively and do not forsake anything we need. I actually have more income coming in today than when I was working. We are not special and believe most people can do this with the appropriate level of planning and discipline.
The key message I would communicate to others is don't delay retirement if you have the financial wherewithal to do so. Too often I have seen many people delay retirement and then experience health issues which constrain the very things they wanted to do post-retirement. Moreover, the most significant benefit of retirement for me is that I no longer have to deal with people I do not want to. That has proved to be the ultimate blessing.
I have been "semi-retired" for about 5 years gradually cutting down to 2 days work a week and have just put in my notice at work.
Been in the honeymoon phase of retirement for 21 years. Loving The Villages lifestyle, traveling and being professional players.
We had a good plan, company layoffs forced retirement before full retirement age so no honeymoon period - directly into reality check for a few weeks. Did the refocus and plan adjustments and went into new normal in less than a year of the layoff. Was able to do part-time work so didn't take Social Security until 70. All is good!
Being life long frugal spenders + always used a budget, the spending transition was a non-issue. And bored? Other than school class or meetings at the office, I’ve never been bored. You make your own interests.
The biggest adjustment for us? Settling into a new schedule of being together more of the time. Our solution - acknowledging we had outside interests before retirement and continue to so. We encourage time apart as well as together. That time apart could be exercise, getting together with friends, or other interests.
Good video.
Been retired for about 2.5 years. Retired as in “accumulation of monies” stage.
Now, it’s the Permanent Retirement “accumulation” stage.
It’s the most exciting and fulfilling stage: “Seek First the Kingdom”; “Climbing the Mountain to God”
Total fulfillment. Nothing less. That’s a goal worth seeking. And it’s wonderful.
“Seek First the Kingdom”; “Climbing the Mountain to God” Amen
In order to buy cheaply, I'm waiting for a housing crisis after selling a few houses in 2020. I've been considering buying stocks as a fallback. Do you have any advice on when is the greatest time to make a purchase? On one hand, I continue to see and read about traders making more than $$$k per week. On the other hand, I constantly hear that the market is crazy and in the midst of a dead cat bounce. What causes this?
It is true that the US stock market had been on its longest bull run ever, thus the widespread panic and frenzy is reasonable given that we are not used to such unstable markets. However, as you pointed out, there are possibilities accessible if you know where to search; in the past 10 months, I've made over $$$k, and it wasn't a difficult plan of action. Because I understood I needed a solid and reliable strategy to navigate better in these times, I hired a portfolio counsel.
I tried researching new strategies to benefit in the current market because my portfolio has been in the sewer for the entire year, but whatever I tried to do just missed the point. Would you mind letting us know who your investment advisor is by name?
My CFA Stacy Lynn Staples", a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
We are fully retired at 67 in Nov. 2023, we have excellent retirement income, great medical insurance, great family and great friends.
We’re doing a lot of volunteering and working on our eternal life.
Retirement can’t be better.
God Bless Us all.
Retired 20 years and happy with my new life.
I worked since I was a teen, and I love retirement. I worked hard and retired with 2 pensions, an above avg 401k and took ss at 63. I am weathering the economic instability and can actually save quite a bit each month. My biggest regret is going into retirement with pets. They hamper your ability to just pack and go on a trip. I love my pets, but they do hold me back.
My wife and I want a dog but we travel a lot. Just got back from Prauge. Maybe later in life.
Do you have a beloved neighbor or friend who can look after your pets? All the difference.😊
Boarding costs for pets have increased steeply in recent years and can be the most expensive part of traveling. The only saving grace is that it’s somewhat easier to travel with pets than it used to be.
Our cat is a great RV companion. Years ago we RV'd with a dog but now our cat is much easier!
@@jimk1050 Nope, gave up RV life. Got tired of hauling a house around, gas costs and RV park prices that come close to hotel prices. So much easier to bool a hotel or VRBO get to our destination and carry a suitcase in and enjoy the evening. No more backing an RV, leveling, rolling out awning hooking up electric, sewer and water. If you enjoy that more power to you.
I have been retired for 13 yrs and 65 yrs.❤ start the plan early in life. The best plan is with the a prenup so the spouse doesn’t mess up the plan!!!
I've been mentally prepared for retirement for the last 20 years. There are advantages to not having much of your self image tired up in your job.
Retired a little over two yrs ago.A big day for me is going to shop at a nearby Krogers i can walk to and deciding which beautiful hiking trail i will walk in the afternoon that are right out my door.After over 35 yrs long haul trucking im very comfortable in my low stress bubble of luxury.No travel plans at all as i got all that out of my system.Gated community with great recreational facilities.
We have the same with the beach and both love walking since my partner fell her bike and now walks .First thing in the morning is my best time and my partner prefers later ,it is part of our daily routine except when raining . But having a routine is the key and finding out what you love doing whatever that may be.
Freshly retired.....financially fine.....kinda feeling like I lost my "compass."
Build a boat! Or something you never thought possible.
It will come. I found mine working with local youth as an adult Scouting volunteer.
Join a gym
I plan to divide my retirement into just TWO stages: 1) Mobile, and 2) Immobile. In the Mobile stage, I would travel, visit family members, cross off the bucket list, etc. As such, I would need more money. During the Immobile stage, I would settle down to a place with a low cost of living and a good healthcare system, not necessarily in the US.
If you get sick and have a few emergencies see where that big pile of savings goes so look down on those who are old and broke it can happen to you too.
That’s what insurance is for. Old is hard enough without being broke.
@@johnscott2746. Yeah, but insurance blows. Now that we have the bean counters running our health care system and denying treatments and prescriptions from doctors, insurance is useless. Plus, they pay sh!t… the bills are so huge that you could go broke just paying your share as a patient. This is the only First World country that doesn’t offer health care and higher education to its citizens. It’s an embarrassment and a travesty.
@@johnscott2746 First you have to make enough to afford the insurance payments!
Insurance does not always cover new cancer medications that are extremely costly.
@@benitakennedy8392if you get THAT kind of cancer, maybe take it as a sign to put your affairs in order.
Two years retired now. Didn’t plan for arthritis in my hands and knees so no real honeymoon. I bought a fixer upper in rural FL the year before retirement, my fix up costs have been much higher than expected since I can’t DIY as much as I planned. Pension and def comp now, plan to take SS and tapping IRA at 70. I followed all the rules and maxed out retirement and deferred comp the last 15 years. Unless I start to gamble or go crazy we should be okay financially. Hopefully can leave my millennial daughter a lifetime paycheck via trust or annuity when we pass.
I've experienced 3 phases. I just never have time to catch up with everything that I'm doing . Never had time to notice much change from when I was working.
Retired for 13 years now. The 1st 5 years prior to Medicare age were a budget challenge, but then it's like getting a big raise. Then SS. Then both repeated for my wife.
Volunteer with 4 different organizations with widely varied time demands.
Traveling that we couldn't afford while working.
A couple new hobbies that require time and money.
Gardens are bigger and look better cared for.
No debt, no payments, still saving a little.
Bottom line, doing more, things I never had time for or couldn't afford.
Looking through the calendar, I don't know how I ever had time to go to work. 🇺🇸
Still planting trees.
Planting trees may turn out to be one of the most important contributions one can make to the world. And they certainly make a big difference in the old electricity bill!
Great content. Retired 4 years, lucky to have a great pension plan. Worked hard for 40 years. Think I’m in the New Normal Stage. Very happy with life. Exercise. Travel. Etc. Think my favorite thing is allowing myself to to have “lazy slow days”. I finally stopped having work dreams 2 years ago.lol.
Planning, planning, PLANNING! We planned for years what we wanted to do as soon as we retired (or I got a layoff). During the first years of retirement we planned what our next adventure would be. When we slid into that, we planned the next options. All this planning helped smooth out the unexpected bumps along the way! FYI, retired in 2004 and still having FUN!
I did the "planning phase" in 2021... after my employer gave the freedom to choose between a Job or a Jab, i retired with less than one month to decide .... now i am on The F#&! All Phase !
The plan i "envision" has changed due to the economic condition of Our Nation and gaining more knowledge, i am my financial planner.
Now we travel 3-4 months a year and take a few cruises a year .
I have moved enough money into Dividend Paying Etf's to fund our travel and pay our household bills before i had Dividend paying stocks. That was a mistake on my part, both from the ones i pucked and going for a higher payout, lesson learned.
Best of luck to everyone !
"I'm bored" are the two most specious words ever. One has full control over this, and need not ever be bored in this tremendously large world.
I'm mid 40's and have been in a semi-retirement for the last 6 months. I'll re-enter the workforce soon, but I'm certainly enjoying the free time right now.
If I look at those stages as generalizations, I think they are fairly good. I' ve been retired for 14 years now, and this year my Soc Sec has gone up to a thousand a month for the first time. Things are looking up now!
In the "new normal", you adjust your life and expectations to create financial and social stability. Unfortunately, age makes our lives increasingly unstable. As our parts wear out, and our social support dwindles, we are constantly forced to adapt to this new reality; and cope the best we can. I find resilience, faith, and patience are the most valuable tools at our disposal.
I had an opportunity come up to sell by business at age 57 within a week I was retired, being a mechanic i took in a few side jobs for a while but after ten yes i stopped wrench turning. Now i go to the gym and walk the dog. It is my first dog at age 64. Now i am 68 and Bodie is 4.
Sorry you waited so long for a dog they are good people
Ten years from now…. that dog will destroy you. Sorry 🥹. The loss of my heart horse destroyed me 😔 . Good luck, pet owners
#debbiedowner 😬🤷🏼♀️😔
Retired at 58. I wanted to make sure I could still learn surfing properly. I now spend all my long winters under the sun in the tropics. But yes, still in a shifting place because of my last child finishing high-school and therefore we are in-between 2 places. We leave this city next month for good. Once fully at the other city I will start probably to look for a summer part time job. I mostly focus on my finances (and health) until then.
Interesting perspective!Learning to adjust to new normal . Planning helps to move forward in the head. Had a bit of honeymoon period but came back down to earth to cut down on expenses and learning to be more frugal. Best hobby for me was to take up gardening.Simplifying life and looking forward to downsizing. Think I have another 20-30 years to go. Coming to terms with the new normal.Happier overall. Alhamdulillah. Take one day at a time and tackle things step by step. All at my own pace. Do what makes me happier .
I feel retirement has been relatively stress-free for me because I transitioned into it slowly after 45 years of working full-time. I had an injury in 2014 that put me off work for nearly two years. After that I did go back to work, but just part-time. Then in April of 2017 I took the plunge and, other than volunteer work, I've been fully retired since then. I do have several hobbies....sometimes I think I have too many! IMHO, my hobbies have helped me to not experience loneliness (I live alone), and keep my mind/body active and engaged, which the older I get I see just how important that is to staying vibrant and healthy so I'm able to make the most of these years.
Retired at 51. But I'm different than most people. I got cancer at 30 and during the 5 months off (with a week a month of tremendous misery) I had time to think and realized I wasn't getting anything out of work except money.
I lived on half of what I made and hit my numbers at 51. My retirement is frugal but I have had *years* with my grandsons who barely knew me when I was working. I've had fun little side gigs, done volunteer work, and lots of skiing.
I retired from the military 23 years ago and recently retired from my federal job. I had a great job and worked with awesome people…but it was easy to transition to retirement. I think I hit your phase 4 by the end of the first week of retirement. I’m ready to change things for the long-term fun part of my life. I’m not looking at my retired days just doing more of what I did on my “off” days. It’s different! I guess my main goal is the “get serious about having fun!” I’m ready for phase 5…NOW! Life is too short…need to get busy living and having fun!!!!!!!!🎉😊
I have not retired yet, but I'm already concerned about "The reality check phase". Not so much concerned about the money, it's losing my purpose. Really. It doesn't help that I lose my partner several years back. In fact that is a big part of the concern.
My path into retirement was a long winding road. After leaving my corporate job in 2012 at age 51, I traveled for a few years, went to culinary school, worked part-time as a chef/baker for 3 years, then started a home-based business during the pandemic reselling vintage clothes/decor. Now age 63, I'm financially secure via Social Security, a pension and business earnings. I'm even expanding my business by sourcing from international markets during my travels to Asia and Europe. Am I truly retired, or just self-employed?
If you're happy that's what counts. In my opinion, you didn't really retire...just changed avenues of income.
You’re self-employed.
What happens when you know that as soon as you retire you will immediately be in poverty and no one to help you. I am 71 years old and still working because I am afraid of what my life will be.😢
It took me 2 yrs. but just last week I once again heard the mention of TGIF and while driving and I realized that I no longer get that great sensation anymore. Mainly, because i really don't know or care what day it is anymore but it was an epiphany, I truly miss that feeling.
Titles you use for the 5 stages really describe it. I'm in Refocus stage, lining up what I thought it'd be like to what it is like. Only difference is just not going to a job. All repairs and maint. on vehicles, house, appliances, plumbing, construction, yard, etc., fills the other hours as normal. The 50+ job hrs a week I'm still trying to fill. Not expected: businesses saying "no" to what I want to do and if they do offer anything, it's for non-active people or people to become feeble. Other Issues: With one hand I was carrying a 45lb rented kayak and was stopped from carrying it because "You might hurt yourself". The person who stopped me and another, carried it. A third helped them lift it on the rack for storage. 🙂
The refocus is actually harder than I thought it would be....
My wife is retiring this year. I’m going to keep working a couple of years so we don’t get on each other’s nerves, as I travel with my work and we are accustomed to our ‘alone’ time. We will have a couple of years to ease into it, and still be making extra ‘fun’ money. I truly enjoy my work. I feel paid to do my hobby.
My plan for retirement turned out to be a winner. Marry a woman decades younger who loves to work overtime! I am never out of coffee money. It has worked till age 70 and still working! But my friends say.....it won't last forever. The biggest challenge for me was the loss of social contacts at work and the respect I had at work for being a valuable and competent member of a team.
That hasn't worked for me. My younger wife is jealous of me being "retired"....and not her.
Plus, she's making the "big bucks", and wants to continuing blowing her money just to "see the world"!
I can not afford throwing my money away anymore...
And I don't enjoy "seeing the world" anymore.
I prefer to just explore seeing my country, my family, and explore "me". Cheaply!
If my wife had her way, I think she'd prefer that I work till my grave.
I've learned about "retirement"!
My part time job is the best "therapy" that I can get!
So you’re a leech? 😅😖
Im in stage 3 and i have not even retired from my job yet. I'm 54 and i could retire now but I'm just to scared to do so.
I just made a deal with my employer where I can cut my hours but I cant just disaster as part of the deal is that if someone calls in sick i need to come in to cover the shift and when people use vacation time i cover a good amount of the time. The benefit to me is I keep my full benefits as if I was still working full time and I have a small income just to keep from depleting my savings to fast. Im going from working four to five 12 hour shifts to two 12 hour shifts if I am not called in to cover shifts or cover others vacations.
COVID was a horrible tragedy but the silver lining has been the availability of remote work in some professions. In my field, we jumped to a place I honestly think would otherwise have taken 20 more years. I'm 70, still working, and in another year plan to convert to a consulting position with my company in an hourly rather than salaried position, with hours reduced by more than half and flexibility for unpaid vacation whenever. This would not have been an option preCovid. If I still had to commute 5 days a week I would have quit 3 years ago. I'm grateful for these new options. I don't have to draw a hard line between work and retirement now.
half
Retirement is pretty much a moving target these days. The 'best plan' is to plan for changes!
At 62, I'm retiring from public high school in 4 weeks. Both happy and worried at the same time. Moving 1500 miles away on day #1. Losing identity and relationships are the biggest concerns.
I am getting my first SS deposit this month. I am glad I am getting SS but I know I will need to work a part-time job. The last few months I have taken a break from looking for a job but I need to get back into the swing of things.
Very good overview. Thank you.
Thank you for this video. I've been retired 4 yrs now. Great eye opener to be aware of and make proper adjustments for upcoming age. I will share this with several of my friends and family. Thanks again.
Glad it was helpful!
My husband is retired with two pensions, s.s., and savings. I still work a remote job that I love--and plan to work at least for 6 more years to keep socking away money. We're blessed in that my job allows for us to travel--and I have most of my day free. We have four trips planned for this year and two homes in different parts of the country that enable us to enjoy our children and grandkids. I feel "retired" because we are able to do anything we want when we want.
FIRE retiree since mid 2020 at age 45 with military Dental Officer (O-6) retirement pay based on 25 years of service. Plus non taxable VA disability benefits. Zero state income taxes in AK. Married no kids, no ex wives, and my spouse is working FT. Tricare covers all my healthcare costs including surgery/ ER visits. So far I have avoided many of the land mines that prevent ppl from having a happy retirement.
My mentor told me there are 3 asset classes in life. 1. Time 2. Money 3. Health. I figured out the 4th. Social Capital. In this case it is the relationship I have with my spouse. He said it is common to have an abundance of one or two of these items, but it is rare to be rich in all four. That became my goal and so far so good as I am approaching age 50. 🙂 My wife calls me a robot. As an INTJ it is true. But, INTJ / INTP personality are make up the majority of FIRE retirees.
I agree with the phases but note that the length of time for each phase can be long or very short and two or more can occur concurrently. After the planning phase I whipped thru the next three very quickly and they seemed to be happening all at the same time. I'm actually in another planning phase now but also have been in the final phase for a while now. Anyway, thanks for the video.
I believe that retirement is different for everyone and doubt that people must go through five phases. Life before retirement is quite different for people, both working and family life are quite varied, interests and goals are different so why would people experience the same key phases in retirement? I don't believe it. For example I have no interest in travel. My work and my hobbies were closely aligned so now I don't work but I still have my hobbies and I have more time to devote to them. I am so happy to not be facing daily commutes in horrible traffic and to let go of irritants and issues that I was not able to resolve. Retirement is still sweet a few months in. Life is full of changes. Having our four kids grow up and move out was a big change. Retirement is a change too but I don't think the change is as big.
I’m not sure if I followed this list of phases. I retired knowing I was going to have to scale back my spending a bit bc I didn’t have a lot of retirement savings beyond my pension. So there were no exotic trips, just a few road trips to visit family. But I couldn’t work another year so I was willing to do it. Additionally, my unstructured day led to drastically increased anxiety even though I have plenty of hobbies and interests and friends. I’ve worked through most of that now coming to the end of my second year. I feel like I’m finally living my life whereas before I was just existing. I work a little bit now and then for extra money when I need, but I love being retired.
The number one issue with retirement is - Will you have enough income to pay your bills. At age 62 I went to a Social Security Office and talked with one the staff. I was told that every day people came into the office or call and say they made a mistake retiring because they could not pay their bills. I had a few staff where I worked come back to work (at age 62) who retired and did not have enough money. Once you retired your Social Security check does not increase when you go back to work, except for cost of living increases. Very few people can live on just a Social Security check.
As far as retirement stages, develop some plan as to what you might want to do before you retire such as having a part time job, volunteering, something to keep you active. They euphoric feeling one first gets wears off in about two months and then you have the rest of your life ahead of you.
I retired at 52. Enjoyed myself for 3.5 years, hobbies, traveling, attending all type of caffes, restaurants, friends etc. Then took a 4 hour a week teaching job, gradually increasing work hours, then decreasing until I got it right. One day of 4.5 hours a week is my sweet spot. The feeling of all my accumulated knowledge not benefiting anyone made me feel like wasteful. I have as much free time as I wish, and the job is like adding spice. I surely do not need the money, just for fun.
Retired @ 38 (went on SSDI) Federal Disability. Reached my F.R.A. at 66.5 still on SSDI. Nothing has changed in my life.
I'm 30 y/o guy and I've been planning and saving for retirement since I was 22. I remember one older office lady mocking me for it, at the time. But I'm now sitting on some $100K in my 401K with many decades ahead of me in accumulation and growth of the existing savings.
I just cannot emphasize how grateful I am for following my logic against bad financial advice.
Hi Devin, I also enjoy your podcast. Keep them coming.
Thank for watching AND listening!
Excellent Video so true Devin 😊
Glad you enjoyed it
Looking ahead and being proactive can take some of the 'sting' out of finding yourself in a new situation. We felt that a layoff or transfer was coming for us before it happened and decided that we had worked long enough and saved enough to leave the job entirely. A part-time job could have been looked into, but we still haven't needed to do that, thankfully, and do not think it will ever be needed. Another thing we did was to sell our larger, paid for house that we no longer needed. Considering down-sizing again as most the family lives out of state anyway and we are getting tired of lawn jobs! Maybe we will move into a community for 55+ people, maybe we will stay right where we are. Whatever we choose, it will be our choice and not be a forced move (hopefully) due to declining health. We look ahead and try to avoid 'surprises' if possible.
I retired at 55 and now building a house at 60. Spending alot of our savings has put a big scare in me. Hopefully the drain will stop after it is finished. Still hoping to delay Soc Sec till 70. It might not happen.
Don’t wait too long for SS. It will be broke by 2034.
Moving from accumulation to de accumulation is stressful. Really does require a change of mindset. For me anyway. Retired at 54 and now 18 months in. Certainly beats working 👍🏻
I retired a few years ago at 42…. Currently sailing the Caribbean full time on my sailboat…. Costing me less than living in the states…. No regrets…. No point in saving money to be dead. That’s what life insurance is for…
3:06 - This "example" would be a bad move for most retirees BECAUSE nobody should trust a financial advisor that (a) Has FAR less life experiences in actually managing their own money and (b) Has NO understanding of what "retirement" is all about. In other words folks under the age of about 40 have VERY little life skills and almost no "wisdom" and their "financial calculators" are rarely accurate at all for any specific cases and they have ZERO "street cred".
Great video. Watching your channel for the first time.
My husband was involuntarily 'retired' (let go) from his job after 44 years with the same company. And that dumped us straight into Stage 3. We both hate it. He does nothing unless I give him something to do, no interests, no hobbies, no friends, no reason to get up in the morning. Everyone said, 'Oh he'll figure it out' ... Well it's been 18 months and he hasn't figured ANYTHING out.
How long does each of the phases take, on average? I retired early, in 2012 at the age of 62, and am wondering what stage I "should" be in now, 12 years later. Because I sure haven't let go of anxiety or gotten "most" of the important things done.
This is an interesting video, and I half expected it to address stages starting as "[relatively] young, active and healthy" and ending up with "old and decrepit" probably because I've seen other sites in which people are divided into age groups of about 65-75, 75-85, and older than 85. However, what has been presented could be considered more along the lines of "psychological" stages. I retired 11 years ago, a month before my 61st birthday, but had originally planned to work another year and a half; however, my parents, living 500 miles away, were getting to the point at which they needed help. I had no interest in staying where my job was located, and I actually drove out of town directly from my workplace after finishing my last day at work. Although I'm now in still another area (the sixth state in which I've lived) some 450 miles from my last workplace, I've remained in touch with many people there, along with some that have retired, occasionally visit them, and get opportunities to do some work on a consultant basis. I have found that some people "label" themselves according to their workplace or position within that workplace, whereas I've thought more in terms of my interests and knowledge which are more permanent parts of me that I can take anywhere. Therefore, I've never had an issue with thinking "how can I fill my time?" because I always have something to work on. I'm single with no children, so I don't worry about my "legacy" or try to flatter myself thinking that 50 or 100 years from now more than a few (if even that) people are going to care that I had lived--my scientific work will be what lives on. I have a healthy nest egg, and consistently spend much less than I take in (as I always have). However, I've never owned any real estate, but have thought of moving to the other side of the country (which I tended to visit anytime I had an opportunity), find or have built a small house that will meet my needs without anything I don't need, pay cash for it, and move on to the next "phase" of my life.
I retired last year, work a part time job making more money than working full time plus more time to do nothing or whatever I want to do 😊
My advice to you better enjoy your healthy life while you can. As you get older you will get health issues, pains here and problems with your legs, back.... . and end your abilities to travel and enjoyment!
I retired about four years ago after 41 years of public service. Guaranteed pension for life. I've recently returned part-time to hopefully lessen the burden on the agency I worked for and thus benefit the public; I certainly don't need the money.