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The Ups and Downs of Early Retirement: 90 & 180 Day Reflections
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- Опубліковано 16 сер 2024
- Are you looking for the the Ups and Downs of Early Retirement? In this video, we share our 90 & 180 Day Reflections. Join us as we peel back the curtain, sharing honest insights from the first three and six months of early retirement. From unexpected challenges to surprising joys, we'll explore how financial freedom intersects with personal fulfillment, social dynamics, and daily routines.
Whether you're considering early retirement, already on the path, or simply curious about what lies beyond the 9-to-5 grind, this video offers a balanced, eye-opening look at the triumphs and tribulations of retiring young. Prepare to challenge your assumptions and gain valuable perspectives on what it truly means to retire early in today's world.
** HERE'S MORE ABOUT TRACY **
Tracy retired in December 2023 at the age of 49. Having traveled extensively, she spends her time between Canada and Mexico writing about personal finance, personal development, and travel on Medium: / tracycollins_8977
If you are thinking of visiting Playa del Carmen, she has a free insider guide: mindful-fire-l...
She also has an ebook on slow travel, living abroad, and geoarbitrage available here: collinstl.gumr...
** Gean's video (Retired for 60 days): • 3 SHOCKING TRUTHS disc...
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⌛ Use the chapters below to navigate our content
00:00 The Ups and Downs of Early Retirement: 90 & 180 Day Reflections
01:50 How's Gean feeling now? (early retirement - 180 days)
02:40 How's Kristine feeling now? (early retirement - 60 days)
05:32 Tracy's thoughts on early retirement (early retirement - 90 days)
08:20 Final thoughts
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So I am NOT retired and any advice is what I have heard, not personally experienced. I have heard it's important to set a schedule and keep it. Most retirees I see do regular exercise in the AM (like 2 hours) and are very disciplined in doing it. This goes along with what you have been doing in walking the Camino. Don't lose your momentum and stop exercising. They also say take time to do things independently. Some couples I know do things alone in the AM and get together for lunch and in the afternoon. That is a personal choice. While you are in the "Honeymoon" stage of retirement, you need a purpose to get up every day. Pursue hobbies, find a cause to support, etc. Just find your purpose. But don't feel guilty in taking vacation--I think that is part of the experience.
Gean, I think your experience would have been different if you had started retirement by immediately starting with the schedule Kristine did. I would be depressed sitting around in the winter months waiting for my spouse to retire too! I think when Kristine retired and you started your schedule, that was your "Real" retirement journey.
It will be fun to see the transition to Brazil Life. But enjoy these last days in Spain. Take in every opportunity and great job on setting a goal to walk the Camino and achieving it! GREAT JOB!!!
The transition to Brazil is going to be fun! We are really looking to creating another new routine, and you're right... we really want to keep the exercise portion we gave developed, going! So that will probably happen in the early morning (it's so much cooler at that time of the day in Brazil!)
And to your point, it will be good to look for things to do on our own as well! Almost 3 months together full-time means Gean is ready for a break from me! 😉 just kidding!
I agree. I do yoga and meditation every morning
My best friend's spouse retired last December and immediately panicked "What will I DO?!". I'm retiring in 46 days and I feel so zen about it, because my question is "Who will I BE". You always talk about enjoying life, which isn't just about running around. Why escape the rat race if only to join a new one? 😂It's also finding the joy in having the luxury of time to just be. Have a long coffee in the morning and read, journal, exercise, discover a new neighborhood, listen to the birds, go to a cultural or community event, a museum, hike, have a picnic for lunch, plan your next trip, work on your UA-cam channel, possibilities are endless. And keep in mind that you'll inevitably be bored sometimes and it's OK, don't pressure yourselves. You've got this, you look terrific and happy! 😍
It's so exciting that you only have 46 days to go! We are so excited for you!! You're right. There is absolutely no need to put any pressure on ourselves. Just enjoy our time, and do what we want to!! Thank you!!
Great talk! I retired from FT work at age 50. At around 53, i stopped all PT work. I'm now living in a beach front condo in Panama. We travel a lot and are just back from a whirlwind week in the US. We have rentals and that really helps build up credit card points, so most of our travel is free. We plan to visit Columbia in a few months. Europe next year. Perhaps a cruise this fall. Another US trip perhaps in the next 6 months also. We love eating healthy and exercising as well. Stay safe in all you do and try to keep these videos coming when time allows!
What an amazing adventure you guys are on! We actually looked at Panama as a.possi le place for us to get IHG status this year! Also, maybe Colombia... we are still trying to figure it all out. Your plans sound great! And no doubt those rentals really do help to keep the travel points coming in! Great job!
Thanks for check-in. What i heard from people who are going to take the retirement or are already doing it, it is to have a purpose, something that motivates you. Some people don't plan that and they feel stuck or disoriented. In Brazil you have a lot of things to do and to learn I guess.
So true, it's hard to go from having a job and reason to get up in the morning, to nothing! This is part of the reason we decided to create the channel to share with all of you! Also, I (Kristine) am hoping to learn portugese... and that could take a while!!
Feeling happier and healthier is really what matters most! Great to hear you both are doing so well!
It really is! Thank you for all of your encouragement and support!
Financial independence is achievable (even) on an a low income. I have loved slowing down, but it is hard to back down on my side hustle.
The best part of Financial Independence is the ability to do what makes you happy, and now you get to decide just that! We are very happy for you 🤗
The game changer of financial independence is you can build toward your dreams. You are no longer working to build someone else’s dream! Now you are in control and will likely pursue new goals and dreams. No way you two are just going to sit on a beach forever!
The future is bright and you have many chapters ahead. Thanks for sharing your journey. Larry and Martha
Ahhh, thank you, Larry and Martha! What a lovely comment, we really appreciate all of your support!
Worried about going to Brazil and not traveling? Think that is the newness of your situation. What may help is lowering expectations. You must understand, you are retired, you are not on vacation. I've seen so many people retire then they want to golf three times per week and eat out and hang out at tiki bars. Not only is that expensive but it's unproductive and unstructured. Doing that stuff occasionally is fine but most need some structure. Personally, I'm thankful for my situation and want to give back to society and help family, neighbors and friends. I have so much to do, I'm never bored.
You're so right. Retirement is not a vacation! It is going to take a bit of time to change our way of thinking. It has already begun, trust us 😊 We are working at not pressuring ourselves to have a plan for every minute of the day and learn to take things as they come! Thanks for taking the time to reach out 😊
You both look relaxed, healthy and happy. Clearly loving retirement and life. Thanks for the update….less than 2 years and counting till I can hang up that kit belt, not that I’m counting 😂
We really are living life and feeling so much better. Trust me, that two years is going to go by so fast 🤗 Thank you for reaching out and stay safe!
I love this check-in videos! I think the initial downtime in Brazil will be good for both of you as you have been on the go since your Camino walk. However, I agree that being active and doing something instead of just being home is the better option. Maybe an opportunity to volunteer or taking part in something that is meaningful to both of you willI present itself while you are in Brazil.
I really need to be courageous in either going for a short break from work or retiring all together. My husband is not ready to retire yet but I can think of a thousand things to do instead of working. I plan on going to the community center for exercise programs, pursuing my hobbies (sewing and crafting), volunteering, visiting my sister in Arizona, or visiting my friends in the Philippines. I'm just so scared of the financial aspect of retirement. I think we're okay but I'm just anxious that no money will be coming in anymore.
Anyway, I look forward to more check in videos from you guys!
Thanks, Virna! I have no doubt we will find lots to do once we are on the ground!
It does take courage to take that step into retirement. It is a huge change! Don't put too much pressure on yourself, and ultimately, you will make the decision when it feels right for you, and in the way that works for you too. 🤗
This is a really great video. I would love so see more videos of how you feel as more time passes and how you adapt to things. My husband and I are almost exactly one year behind you in this process and looking at FIRE first half next year. Him first, then me a few months later so really enjoy your videos. Greetings from South Africa!
Hello!! We are so glad that they are helpful, and we will definitely be keeping you guys posted on how it is all going! Congratulations on being so close to your FIRE date!!
Have the fun is figuring it out along the way!!) Make sure to take breaks and rest. 🌄
That is so true! It is fun trying to figure out what's next....and being able to change our minds if we want to! 😉
I’ll check in as well. Watched a number of your videos.
Wife & I are mid-50’s. Still both working. We certainly have the means to retire….anytime.
Although, we are totally book ended with three mid 80’s parents that are diminishing. (my father passed 1 yr ago of dementia) As well, 2 kids that are 23 & 25. Kids are educated & employed but not quite launched.
We are literally on call from all sides. A 3 day weekend away is an absolute feat at this time.
Funny, I enjoy my work for the respite.
Guess I haven’t said much of anything- other than outside obligations will ultimately somewhat control life decisions….
I'm so sorry to hear about you dad, dementia is an awful disease. You're right. You guys are in a tough place right now. It's good that you're actually finding work to be a break or a bit of an escape for you! We really hope that everything works out for you guys, and we love to hear from you as well. So, keep us posted on how you guys are doing 🤗
Great video! Really interested to hear how you are both feeling during your retirement. Look forward to the next check in.
Thanks, Diane! We will definitely keep you guys updated!
It’s great to see your video on how your retirement beginnings are proceeding. Perhaps you will or are doing more detailed videos about the places you are seeing? We will watch for them.
We do plan on doing videos on where we will be, wr definitely will keep you all posted!
IMO, the most important thing for retirement (if you are married or have a significant other) is to have them on board supporting your decision to retire and that their plans are congruent with your own.
This is so true. It's really important that both partners are on the same page for sure!
Will you talk about your youtube ads income?
We are considering a video that includes that.
I have a question for you Kristine. In a previous (older) video, you mentioned that you were quitting April 1st bc you were taking your commuted value. Can you explain that? I’m ready for FIRE but had planned to work to the end of April 2025. I’m 99% sure I’m pulling my CV too. Thanks!
Sure! The earlier in the year you leave, the better tax wise for you. Not all of your commuted value will be able to be sheltered in a LIRA, and the reminder will be taxed at your normal tax rate. If you have space in your RRSP, you can also fill that up. In my case, I was going to have a large amount that wouldn't fit in the LIRA, and our RRSPs were maxed, so the earlier in the year I left, the less tax over-all i will pay. This is because you will have less of your regular salary, on top of the extra commuted value to pay tax on. Hope this makes sense! I would have perhaps left earlier than April, but I had promised my boss I would stay until the end of March :)
@@FIREWeGo that’s what I thought, Thanks for answering. I won’t know any amounts until I quit, it’s a guessing game until then!💰 Luckily I have some decent room
In my RRSP.
@tracyreaume6451 you pension plan should be able to run your commuted value at least once per year...then you would at least have a ballpark amount!
@@FIREWeGo they stopped doing that here in Alberta and many more provinces I believe. I work in municipal government and ask every year with the response “in order to align with industry standard LAPP basic discontinued the administrative practice of calculating commuted value estimates…”
Oh no, that's awful. Makes it really hard to plan for your future retirement....
Bet your going to miss wrestling junkies in Toronto in January 😂
Oh man! Not at all! Funny enough, I haven't even thought of work at all!! I don't miss it one bit. Some of the people I miss, but not the job. That's definitely a sign that it was time to go!
Are you worried you money will run out in future?
At this point, we are confident that we will be ok. We can always adjust our budget and stay longer in lower cost countries if we need to save a nmbit more money.
@FIREWeGo Scary thought, you may find you develop such an enjoyable routine in Brazil and develop relationships with family and neighbors that you may not want to get away as much. Always be looking fir the glass half full!