Economics of Retiring

Financial_Digger

Well retiring is different for all sorts. I retired and quickly felt myself to be becoming a shade less grey. so i took up painting and now I'm going to get an app made. Putting myself out to pasture felt like a silly trick laid by some nefarious social engineer.

chucknorris

I'm 55 and not sure when I will retire, but it will probably depend to a certain extent upon when my wife decides to retire. She is younger at 45 but is now making noises about retiring in 5 years time. I think the biggest challenge for us is to ensure a decent interesting lifestyle with plenty to do. I think this is where my wife may struggle, whereas I have running, cycling, walking our dog, bowls, chess and we are planning to spend our retirement winters in Spain/Algarve. She doesn't really have any hobbies other than walking our dog and (to a much lesser extent than me) cycling.

PennyForThem_2

Look at my previous post about exploring what is on offer during the day and evening in your locality. Loads of stuff to do - just a matter of latching on to something that interests you.

With the net this expands to global levels - start a blog, forums, exploring, getting books you really want to read through internet lbrARY.

Visiting museums (mostly free), volunteering, walking, exploring, ist goes on - BUT at end of day it what captures interest.

I go swimming with someone who is retired who took up painting and now sells her paintings through a gallrey.

My line manager is like your wife - 'I don't know how to fill in the space left if I retire' - but there is so much out there ....

black_taxi_2

just read thru thread as im approaching 53,thx all

tarnish

The trouble with retirement is -- you never get a day off.

zygurat789

tarnish wrote: »

The trouble with retirement is -- you never get a day off.

I know what you mean. Been retired (in theory) for three years and still can't get around to do all the things I promised myself I would. Trouble is everyone thinks you've got time on your hands and nothing to do.

seven-day-weekend

Financial_Digger wrote: »

Well retiring is different for all sorts. I retired and quickly felt myself to be becoming a shade less grey. so i took up painting and now I'm going to get an app made. Putting myself out to pasture felt like a silly trick laid by some nefarious social engineer.

The first five years we lived in Spain it was new, it was fun.....then living in a tiny village in the middle of nowhere with really slow dial-up internet began to take its toll on me.....I always thought it would be great to be able to read all day, but having done that I've decided it can wait until I'm in my 80s at least

I enjoyed our time in Spain, I'm glad we did it and I will never again have such a quirkily beautiful house with such a vast and wonderful view, but I'm so glad we returned to our Victorian terrace on the outskirts of the city centre.

Ilona

I think I have posted on this thread before but I'll do a little update. A couple of weeks ago I paid off my mortgage, went into the building society and asked how much it would be to finish it. My bank balance was looking healthy so I was hopeful that I had enough, all accumulated by leading a frugal lifestyle. Yes, I could afford it so I wrote a cheque there and then. No more mortgage.

I love walking and I like to do two long walks a year, as well as all the days out I do. I get the train out somewhere, and walk back home. It is usually across the country from the west coast to the east. I am just back from a 150 mile walk, this time I got a train to Newcastle, spent the night on the banks of the Tyne at South Shields, and walked back to the Humber Bridge. Having a rest day today, ha ha.

You can find money for what you need, by cutting down on the things that aren't important. I have been retired four years, and loving it.
Ilona

pollypenny

That sounds great, Ilona.

There are lots of things to do which don't cost much.

MsSupertech

Errata wrote: »

You can try out the downshift in money by spending three months now living on what your retirement income will be, just exclude travel to work costs.
Upshift in time - depends on what you want to do that you don't have time to do now.
Psychology - accept you're a different team to the one you were when working and you'll be in each others company a lot more.
Tip - make sure you have a man shed in the garden!

Great advice although I would say 6 months is a more realistic trial period for 'costing' your retirement expenses.
And don't forget that there's a lot of free or cheap stuff to enjoy once you have free time on weekdays )
Finally - Enjoy - life is short!!