I retired early last year, and I have to say, it’s not as easy as I thought it would be. There are so many things people don’t tell you about early retirement.
I’m not surprised. I’ve been thinking about retiring early too, but the more I dig into it, the more I realize there’s a lot to consider. It’s not just about having enough savings.
Exactly. I retired at 58, and I quickly learned that managing your money in retirement is a whole different ballgame. There are hidden costs everywhere-healthcare, taxes, even just keeping up with inflation.
That’s what I’m worried about. I’m planning to retire in a few years, but I’m not sure if I’ve accounted for everything. People always talk about the freedom of early retirement, but not about the financial stress that can come with it.
It’s true. When I retired early, I thought I was set. But then, I started to notice how quickly little expenses add up. And you can’t just count on your investments to grow steadily, especially with the market being so unpredictable.
I decided to start a gentle retirement. After 44 years of seeing patients 4-5days a week I took 6 months off and worked a seasonal job in Alaska. Taking 6 weeks to drive back to Florida across the country. Then I’ll go back to seeing my patients 1-2 days a week. This will supplement my SS and help pay for my fun and travel. I’m 3 months in and the adjustment has been good so far! Thank you for your content!
Thank you for your reply. Many people do the same thing. It's a nice way to ease into retirement. Alaska is on my bucket list. I hear it's beautiful...in the summer! LOL
I retired early last year, though I still work a couple days a week at the office. It keeps me in touch with friends, you maintain that feeling of self-worth and helps me appreciate my extra time at home. Also I can't say enough about having hobbies and getting out. I totally agree, it's a big adjustment but I have no regrets.
All great points I can relate to. I worked in health care and retired about a year before COVID hit, and was shut out from transitioning away from my work friends into social groups based on my retirement activities due to gathering restrictions. Still trying to figure out how to rebuild my social network, although now I much prefer dogs to people!
I like what one guy said about retirement. Retirement is where you putz around with a few things in the morning and afternoon until it is time to watch TV again.
a Fresh start. I quit my job in 2021 thinking I would NEVER go back to that type of work... but I missed it. I realized that I had not quit the career, I had quit the place and the crappy management. So I went back to work. Part time at first and back to full time for over a year now. Kinda over it again. I am tired. I want to work 2 days a week.
Part time work can be beneficial. You generally not over worked and you can choose the management you want, in the areas of work you enjoy. One thing retirement affords you, you can be flexible with your time and happiness.
I turn 65 this year. Because I live alone (unwillingly....had a late life divorce that was unexpected) I decided to work part time. It keeps me socially engaged, gives me some structure but plenty of free time, and also gives me the all important pension top-up. Employers love semi-retired folk. If someone calls in sick they can call on me and most likely I can come in because I have a very flexible schedule. *Note*: Most people who early retire are happy because they are also wealthy (enough to early retire).
Your 'note' has some merit though I am not wealthy, just a good pension and some investments. I've been divorced, thankfully early in my life so I could rebuild, so I know where you stand with that. Part time is a good thing in many cases btw.
I had to make a "Retired Job Description". My job is to take care of mind, body, finances, property. And I have a little part time job 2 half days per week. I am very lonely, so I get out of the house at least 5 days per week. My career was stressful, but the work was exciting. Retirement can be very lonely.
It can be lonely and it's good you get out. if you have hobbies/interests check out some of the clubs that might be around. People are always looking for new members.
People who don’t want to retire, but can afford to, kind of remind me of criminals who commit a crime so they can go back to prison, because prison is the only life they know. They find comfort in their prison because they’re incapable of imagining anything else. When someone else dictates their structure it absolves them of the responsibility of creating their own structure.
Very profound. I won a bet when I retired....I bet a 70 yr old I would retire at 55 before he turned 71. I won that bet. He worked another 3 years before retiring. 3 years (+5 from 65) he will never get back. He had loads of money.
Man, hit the nail on the head! You lose contact with work friends. You have little in common experience with the retired folks in your neighborhood, and you are full of knowledge no one is interested in. It is true what they say: don’t retire from a job, retire into a hobby or new interest.
That is a great way to transition. For me I was part of a golf club so I had that social friend BUT, good close friends are a rarity. They will come though. They did for me.
I retired early last year, and I have to say, it’s not as easy as I thought it would be. There are so many things people don’t tell you about early retirement.
I’m not surprised. I’ve been thinking about retiring early too, but the more I dig into it, the more I realize there’s a lot to consider. It’s not just about having enough savings.
Exactly. I retired at 58, and I quickly learned that managing your money in retirement is a whole different ballgame. There are hidden costs everywhere-healthcare, taxes, even just keeping up with inflation.
That’s what I’m worried about. I’m planning to retire in a few years, but I’m not sure if I’ve accounted for everything. People always talk about the freedom of early retirement, but not about the financial stress that can come with it.
It’s true. When I retired early, I thought I was set. But then, I started to notice how quickly little expenses add up. And you can’t just count on your investments to grow steadily, especially with the market being so unpredictable.
Early retirement can be amazing, but only if you’re prepared for all the twists and turns.
I love no longer dreading Mondays. ❤
When you retire, everyday is a weekend!
I might be getting a buy out! Keep your fingers crossed for me! Hopefully I will get to join the “retirement community!”
Fingers are crossed snowman! Good luck!
I decided to start a gentle retirement. After 44 years of seeing patients 4-5days a week I took 6 months off and worked a seasonal job in Alaska. Taking 6 weeks to drive back to Florida across the country. Then I’ll go back to seeing my patients 1-2 days a week. This will supplement my SS and help pay for my fun and travel. I’m 3 months in and the adjustment has been good so far! Thank you for your content!
Thank you for your reply. Many people do the same thing. It's a nice way to ease into retirement. Alaska is on my bucket list. I hear it's beautiful...in the summer! LOL
Great video! Thanks for the advice!
Just keep them in mind for when you are there.
I retired early last year, though I still work a couple days a week at the office. It keeps me in touch with friends, you maintain that feeling of self-worth and helps me appreciate my extra time at home. Also I can't say enough about having hobbies and getting out. I totally agree, it's a big adjustment but I have no regrets.
Once the adjustment or transition from work to retired happens, life is good!
All great points I can relate to. I worked in health care and retired about a year before COVID hit, and was shut out from transitioning away from my work friends into social groups based on my retirement activities due to gathering restrictions. Still trying to figure out how to rebuild my social network, although now I much prefer dogs to people!
Love my dogs...find something you enjoy doing, pursue it and I think the social elements will follow. Give your dog an extra treat for me.
I like what one guy said about retirement. Retirement is where you putz around with a few things in the morning and afternoon until it is time to watch TV again.
If that is his retirement and love it...Awesome. Every one has a different view of what retirement is!
@@myretiredlife13 I think he meant it to be a joke.
@@JohnA000 Maybe but there are people like that out there! LOL
a Fresh start. I quit my job in 2021 thinking I would NEVER go back to that type of work... but I missed it. I realized that I had not quit the career, I had quit the place and the crappy management. So I went back to work. Part time at first and back to full time for over a year now. Kinda over it again. I am tired. I want to work 2 days a week.
Part time work can be beneficial. You generally not over worked and you can choose the management you want, in the areas of work you enjoy. One thing retirement affords you, you can be flexible with your time and happiness.
Great advice for us working towards living the dream. 👍
If you are excited about retirement BEFORE you retire, retirement becomes so much better!
I retired early. I’m a bachelor. Well… I have a cat. She runs the house. Lol. I don’t mind being alone tho. I get out and about some during the week.
Give your cat an extra treat for me! I really appreciate the time your spend watching my videos.
I turn 65 this year. Because I live alone (unwillingly....had a late life divorce that was unexpected) I decided to work part time. It keeps me socially engaged, gives me some structure but plenty of free time, and also gives me the all important pension top-up. Employers love semi-retired folk. If someone calls in sick they can call on me and most likely I can come in because I have a very flexible schedule. *Note*: Most people who early retire are happy because they are also wealthy (enough to early retire).
Your 'note' has some merit though I am not wealthy, just a good pension and some investments. I've been divorced, thankfully early in my life so I could rebuild, so I know where you stand with that. Part time is a good thing in many cases btw.
great points
Thanks Drew
I had to make a "Retired Job Description". My job is to take care of mind, body, finances, property. And I have a little part time job 2 half days per week. I am very lonely, so I get out of the house at least 5 days per week. My career was stressful, but the work was exciting. Retirement can be very lonely.
It can be lonely and it's good you get out. if you have hobbies/interests check out some of the clubs that might be around. People are always looking for new members.
People who don’t want to retire, but can afford to, kind of remind me of criminals who commit a crime so they can go back to prison, because prison is the only life they know. They find comfort in their prison because they’re incapable of imagining anything else. When someone else dictates their structure it absolves them of the responsibility of creating their own structure.
Very profound. I won a bet when I retired....I bet a 70 yr old I would retire at 55 before he turned 71. I won that bet. He worked another 3 years before retiring. 3 years (+5 from 65) he will never get back. He had loads of money.
I leave in the South. Can spend more time outdoors. More time with wife is a different thing
LOL
Man, hit the nail on the head! You lose contact with work friends. You have little in common experience with the retired folks in your neighborhood, and you are full of knowledge no one is interested in.
It is true what they say: don’t retire from a job, retire into a hobby or new interest.
That is a great way to transition. For me I was part of a golf club so I had that social friend BUT, good close friends are a rarity. They will come though. They did for me.
Be happy. I like that.
I'm a firm believer in being happy. We all have bad days BUT being happy gives you less of them!
Typo: retirees a happy.
If you ask they will tell you.
Join the Kights of Columbus or Catholic Women's League.. volunteer at Church... enjoy walks exercising in GOD'S CREATION NATURE...PARKS