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Why do People Struggle the First Year in Retirement? We were surprised!
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- čas přidán 7. 08. 2024
- 🎁 [GET THE FREE RETIREMENT CHECKLIST] - What you need to do one year before you retire
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The first year of retirement does not always align with the dreamy escape many people imagine. The transition into retirement is filled with unexpected challenges and emotions that definitely shocked us our first year in. In today's video, we talk about strategies to overcome these initial struggles (which DO often come!) and ensure the bumps of your first year of retirement do not stand in the way of living your best retirement life.
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CHAPTERS:
00:00 Introduction
03:54 Major Loss of Identity
05:07 Financial Concerns
06:29 Bored
08:18 Social Isolation
09:46 Health and Physical Activity
10:09 Setting Goals
10:33 Relationship Struggles
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ABOUT RETIREMENT TRANSFORMED
Husband and wife duo, Mark & Jody Rollins, inspire and serve as personal guides to meaningful, transformational journeys for individuals who are planning for, going through or are living in retirement. This is everything in retirement beyond your financial plan.
We are not financial advisors or medical experts. Any advice we give is our own and should not be taken as professional advice. This video is for informational and entertainment purposes only. Please seek professional assistance before making any financial decisions or changes that can affect your physical or mental health.
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I retired from a job of 37 years. My wife was able to retire 15 years ago. I have been retired for exactly 1 year now and I’ve had no problems adjusting at all. I absolutely love it but I never felt my life or self worth was defined by my job. My wife and I do just about everything together. This part of my life is absolutely great.
Good for you both. Sounds great
30 years before we retired we bought a few acres and planted 100 fruit trees, now happy working part time on the land and eating lots of fruit.
That sounds awesome!
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I worked in the government for the same amount of years; I invested through a 401(k) and she through a fiduciary financial advisor. We both still earning after our retirement!
Even if you retire, YOUR EXPENSES NEVER DO!
Having enough money in retirement is important. We don’t do financials advice but there are plenty of help available if you want to learn more.
I retired at 74 about 5 months ago. I am single. So far, I have found it really delightful. I do have goals: practical obligations and exploring stuff. I find getting away from an outside schedule and doing my own, very pleasant. I used to think I was a night owl; but now I am getting up quite early. I really like the Solitude, after all those stressful people things. I have a morning stretch routine, and am losing weight. I just feel less pressured. I have always had hobbies; and now I find some old ones are coming back. I do miss the keeping up with friends activities a little.. the idle light banter you do at work. I do find myself staying at home more than I used to. I do have to be aware of my budget and save a little ahead for events; but i was always a planner, so it's not really new. All in all, this is great; and I'm still quite healthy. I think it would be harder with a partner around.
Thank you for this detailed response. It will be helpful to other solo retirees.
I retired at 55, about 9 years ago.
I have absolutely no negative issues regarding it.
I don’t define myself by what I did for a living or job title……..
Totally with you. My IT career was high stress, impersonal, and hyper competition just to keep up on everything. There was little to no trusted social aspect for many years. Made it very satisfying to just vanish 😄
I’m retiring from Law Enforcement in Jan. Don’t think I’m going to miss all of the negativity from people politicians and command staff. I will miss the comradery with guys and gals
Good for you. The reason for this video was to encourage people to leave their old identity and create a new one. Whatever that might be. It sounds like you have done that!
Thank you for your service. Just hope you aren't one of the clowns who gets hard by pulling over an easy target (like me) for going 10 miles over the limit but won't go after the car full of minorities blaring rap music and getting high on their way to to loot a retail establishment. @@stevesmith756
I was raised by frugal parents. I can recall mom asking for "a half glass" of water! So transitioning from saving to spending seems like the big hurdle to me.
I can understand how you feel. It is a hard transition for sure, but hopefully you fully understand your finances and will over time get comfortable with your situation.
Indeed, after listening to a random fellow for a few minutes, yesterday!, this very topic came into my mind for the first time!!
I have the bucks but cannot REALLY be secure in just spending however I am pondering and thus coming to an understanding of not-saving.
Make sure to budget for it. Know in advance that those funds are for spending. It gives you permission to spend.
My first year of retirement was 2020 - right when the pandemic hit the U.S. Nothing was normal. I was a massage therapist, so due to COVID restrictions, I would have been out of work anyway. So I felt so blessed that my Social Security and 401k distributions were coming in or I would have been depleting my savings due to having no earned income. God's timing is perfect!
We are glad things are working out for you. COVID did set many people back and in a different direction.
I retired at 50 got rid of all the junk I had collected over the years, I grabbed a backpack and one suitcase and been traveling the world for the last 7 yrs. Every new city in every new country is a new experience, it keeps me young. I will come home to the US for Thanksgiving and Christmas with my kids then I'm gone again to see the world, I will die enroute to my next destination.
sounds delightful. Thanks for watching.
So, I’m an early retiree (51) and I moved out of the U.S. Been away from the rat race for about 7 months now & I just recently have gotten into a bit of a funk. I have NO desire to go back to the corporate world, as the stress of it all had a huge negative impact on my health. So I’ve been wondering what the heck is going on with me… but definitely going to take some of these suggestions to heart, especially when Ive had a real vision for this next phase of my life (travel, an art hobby that may turn into income, taking care of myself physically, etc). You’ve got a new subscriber!!!
Thank you for subscribing! We are happy we found each other. What you are feeling is what you should be feeling. This is one of the most misunderstood transitions in life and not much is written about it. Here is a link to a great book that I read just after leaving my career and was feeling exactly like how you are feeling. It was so helpful to me I hope it works for you too.
a.co/d/gBwxxWV
I'm 11 months away from retirement. I'm lucky enough to be eligible for a decent pension at age 55, so finances really aren't my worry. However I am worried about my sense of purpose and how retirement will affect me emotionally. I happy to hear you talk about that
Thanks for the comment and check out other videos on our channel as we’ve touched on purpose in a few of them. We appreciate the suggestion of going deeper in this area
i have always believed, '' my sense of purpose, is to my self.''
your life. no guilt needed!
I too am surprised with some of these thoughts. I was in a government job for 34 years. Disliked the work, hated the losers I worked with. Then worked in the public operations for a few more years. I just fully retired 1 1/2 years ago. Could not be happier. No set routine, eat when I am hungry, help out my elderly parents, assist my wife’s company, etc. I did my time and paid for the crime. So very glad that it is over. Helping so many, grandkids, etc.
Why you might ask why I stayed in a caustic job….pension. My pension was locked in….
So very glad to be retired….actually I pity people who all they have is their job. Very very sad…
Thank you for sharing your perspective. We are so glad your retirement is working out for you.
I’m in the same boat. I’m grateful I have a pension and a substantial one. I did work hard for 22 years in public service. I nicknamed my boss Atilla the Huhn. I had a coworker that was truly mentally unstable. I dont miss it at all. I like and enjoy being with my husband. Sleeping in, jogging, napping, cooking and travel on my timeline is wonderful.
While I have never worked for the government, I know many government employees and retirees. I live very close to DC. What I have found is that government employees' entire purpose is to collect a pension check. Most hate their jobs. For the most part, you can't be fired, so...why wear nice clothes or make-up or even take a shower? In fact, many in the federal government don't even bother to go to work. Instead, they, ahhhh...."tele-commute". Meaning, they log on to their computer, then horse around for 80-90% of the day. My neighbor across the street does this very thing. He tells me he can't wait to retire...at age 62. He'll have his military pension (which he earned), plus the TSP (401-k type plan) plus a pension for life from the tax payers who received very, very little value from him plus...Social Security. So, he actually has TWO retirement plans at his current job: for doing nothing! I guess it's okay. We are only $33,000,000,000,000 in debt and the Big Guy can always print money to pay his minions and groups that support expanding the government. So, yes, I am happy you have found your happy place. And yes, I fully understand that your co-workers are losers. After all, government employment is now just a giant welfare program funded by the rest of us and the printing of money. I'm waiting for a Greek style economic collapse. We'll see.
I have to admit, the struggle is real, especially if you're single or your partner is still working.
Yes this is a common problem. We hope the video was helpful.
I retired from a great career, executive leadership and business ownership. It delivered huge professional, personal and relationship dividends, among other things. I stepped away entirely on my terms in my mid-fifties when the time was right.
You've done well to cover a lot of ground in this video, well done.
I think there is a great deal to talk about for people to be ready and end up successful in retirement, but fundamentally a lot of it has to do with a simple theme I use when I counsel people on this topic: If you were boring and bored, without curiousity, interests or energy, lacked focus, and/or had poor relationships while you were working, there is a very high likelihood (like 99%) you will be exactly the same person in retirement. Nothing magical happens during retirement day, week, month or year. All the basic building blocks for post-career success need to be in place or in progress, or at least in-mind, well before R-day. It's a campaign, and you need to get it right or you absolutely can fail and I'm also not talking about the money part.
Thank you for your thoughts. We appreciate your comments.
I am retiring from my full-time position in December at age 62. I am planning to work part-time with my current employer starting a few months later to give me some structure, while still allowing me to build my business. Since I am the only income in my home, this plan gave me peace of mind. The part-time work will have a maximum 18 month timeline, which gives me a balance of activity and income during the transition, gives me time to increase income from my business, and provides structure. I hope this idea helps someone else.
Thank you for sharing this. I love this approach to retirement. What kind of business are you starting?
I just retired early at 59. I previously thought I’d be elated, I am to a degree, but there’s a big part of me wondering if I retired too early. I do have enough money, but the thing I’m questioning is that I “quit” when I was at the high point of my money making ability, knowledge and ability to help society.
I’m sure I made the right choice, I have plenty of hobbies to keep me busy.
You can always go back to some part time work for some extra money and also to get the fulfillment that might be missing from your life. But also just enjoy this new phase of life
First year in retirement sounds like first year in marriage 😂❤
That's an interesting statement and yes it is a little like that. It's a time when partners need to really be kind, gentle, understanding, and patient.
Timely. I'm now a shade past my first year in retirement. One thing I found helpful was to keep reminding myself "it's a process" and it takes time. It didn't take too long til I "fell into" (really, just a continuation) of my old routine of walking, strength training etc (even at work) but now easier to do with a modestly later wake up time. I did worry BIG TIME about finances the first quarter or so til I saw that income was more than adequate to outgo. I signed up for some art classes I've wanted to do for some time and I rather enjoy our schedule flexibility. Sometimes though I do still miss aspects of work, the intellectual challenge and the camadaderie.
This is a wonderful story to share. Thank you.
I will be 61 years old next month and am considering retirement. I do not like working anymore, but I am single and it has been my identity for the past 30 plus years. I am honestly scared to death about how I will cope and what I will do in retirement. You hit on nearly every point that is going through my head.
It may seem overwhelming, but just take it one day at a time. You will do great. Thanks for watching!
I love it when you two talk to each other openly because communication is so important to feeling heard, understood and supported. Bravo!
Thank you. We try hard to respect and listen to each other.
Oh heck yeah!! You touched upon so many of the 1st year hurdles. Many of your points on how to handle them are so valuable to put into your new you. Thanks! Make the most of every day.
Thank you. We appreciate your encouragement.
Thanks for your videos.
I have watched a few and just subscribed.
In my case I am trying to think ahead and make a easy transition to retirement when I retire in June 2024
6 years ago I started a path to earn some money in retirement doing my hobby (boating)
First I got my Captains License.
Then I played around with some business ideas like doing boat deliveries, sunset cruises on my sailboat, etc.
I settled on doing boating training.
Conducting the USCG Captain License Class in the winter and teaching people how to operate and maneuvering their boats in the summer.
So far while I am still working fulltime I have earned $8,000 per year doing this.
But it is not about the money it is about having fun with boats and having a reason to get out of the house.
What a great story and plan for retirement. I have a friend who is doing the same thing.
Loss of identity and purpose are my top concerns. I have not retired yet, but look forward to doing so. I appreciate you covering these aspects of retirement. I enjoy your channel.
Thank you! Yes the identity issue is something to focus on. The fact you are thinking about it is half the battle.
I believe that it's a challenge. After working your whole life, it probably weirds you out to not work. There's also uncertainty and you hope you're doing it right (like you don't want to be dead broke when you're 80).
Engaging in some part time work or volunteering can help with the transition.
Thanks for the insights. I have set a date to retire (4 years from now, when I complete my 60) . I have alot of plans and ideas of what to do.
One thing that I notice is that some people have their own identity or sense of self value too much associated to the company they work for. And this is really too bad. Other people dont have a life or friends outside their work place. This is also too bad. As for me I am really looking forward to R day.
One thing that I will try to do is to have a smooth transition during the last two years, such as working three days a week. My company has a special schemme for that.
Great content and moving from accumulation to deccumulation can be really difficult. Setting a budget is key and then stick to the plan. Difficult not to over obsess with looking at your decreasing number in a falling market. Really helps to have a support network and regular check in’s with a financial specialist 👌🏻
Absolutely! We are huge fans of hiring a financial planner. Yes there is a cost but we believe that not having a planner to help with keeping you from making emotional decisions about investments can cost more. They also bring such a great perspective because they are working with hundreds of other clients just like you.
@@RetirementTransformed . Thanks again for your vlogs and have now subscribed. Really enjoying the content. Keep up the great work 👍🏻
great video... i enjoy the fun banter that y'all present retirement advice, it's very positive ... seems you ought to be presenting this message at "pre-retirement" seminars at large organizations and such
Thank you. And yes we would love to do that for sure.
@@RetirementTransformed maybe put together a couple of videos that are designed/crafted/packaged for specific state employee retirement systems and local union retirement systems in your region and present them to those organizations... usually those seminars are filled with persons with no clue what the future holds for them...
As a teacher, I can relate to this! I retired early last spring at 55, and ended up accepting a part-time teaching job at a smaller, private school. I think this has been a nice transition, and can see continuing part-time as long as I enjoy it.
Man, do I envy you. I’m an Illinois teacher, just turned 56 and have to wait till 60 for full pension since I’ll have fewer than 34 years service. I’m so burned out!
You guys are so funny, love the little jabs you throw at each other. This is my second video that I'm watching from your channel. I'm not retired, far from it but, I had a "mini" retirement from work that lasted a year and the issues that you guys bring up were very similar with what I went through during that one year! Please keep up the great work!
You are welcome. Thank you for bringing here. Let us know what specific issues came up for you during your time away from work. We are so interested.
@@RetirementTransformed It was really strange actually. Although I needed to care for a family member, my routine of going to work stopped completely. At first I was relieved and a bit excited that I wasn't working but, as the weeks slowly passed by I found myself feeling very lonely and depressed. I didn't have a routine other than looking after someone. I wasn't exercising and spent a lof of time just surfing/watching CZcams etc. The feeling of malaise really crept in slowly and I didn't even realize it until I had a sudden panic attack! It was all so surreal.
I'm grateful that I got out of this slump by working again but, I wholeheartedly agree what you guys mean when you say that you really need a routine after retirement! I feel like this experience helped me prepare for my retirement in the future, thanks again for the great video!
You need a plan, plain and simple. Before you retire think about your interests that will replace going to work every day. Pick up what you need to engage in those pursuits and try them out. Unless you are let go or retire in a snit, you should have time to create a plan.
I started back motorcycling after my kids got into college and working. I went camping, bought a trailer. When the company had me traveling I used the bike instead of flying. I bought enough little things that made these experiences fun. When time came to take advantage of the opportunity, I didn’t have any trouble. A financial advisor helped take money management iff my back. I also had a house and yard that kept me busy when I was home. I helped my kids move a couple of times that first in that first year.
My wife and I have been retired for nine years. Since I was a true workaholic I thought I would have a very hard time retiring. After retiring I did work again for two year as a consultant engineer but it was on a part tim basis. During that time I finally came to the point where I just didn’t want to have any more deadlines or work responsibilities and so I retired for good. I got to say I love the freedom of doing what I want to do when I want to do it. The only thing I insist on doing every morning is walking six miles usually two hours. After that is complete I do what ever comes up and can’t say I miss work at all. I was a little concerned at first with the finances because not having a paycheck every two weeks is really hard to get used to. I finally got comfortable with our financial situation and after nine years things have been fine. We do travel at least twice a year and that keep us busy planning, going, and getting back to normal life after the travels. For us retirement has been great!
Sounds nice!
Common sense tells me not to retire cold turkey. Slowly phase out of work and develop things to do, new habits, renewed commitments, and gradually get used to be a retiree, not getting paid with money, but love, the joy of seeing people get helped without the promise of physical reward.
Nice mindset. Easing into the transition! Love it
I just retired in August after 38 years of being a 911 Dispatcher and for the most part I loved my job. So far it's not been good being away from the job. The struggles are real, money is not an issue at all, it's just trying to get motivated after going 100 mph down to 0 mph. My family has been supportive which is a good thing. I just got a call asking me to come back to work on a very limited basis (this type of work is in demand for workers) - work when I want - like a few days a month only. So I'm going to give that a try and hope this mix for a while will help me ease back into being off. I'm on a goal to declutter and downsize on a lot of "stuff" I don't need. Definitely think routines are a good idea. Thanks for the reality video!
No problem! Thanks for watching.
I followed a bumpy road to retirement. I left my corporate executive job in 2012 at age 52, traveled for 3 years, went to culinary school for 1 year, worked as a chef for 3 years before starting an online business in 2020 in the US. I've spent the last 3 years building my business and started collecting Social Security at age 62. Now I'm winding down this business to move to Asia but I'll probably start a side hustle there too. I'm financially comfortable so when do I call myself truly retired vs. just perpetually self-employed?
You ask a great question. Jody and I are on a mission to help everyone rethink retirement. It really needs to become a point in time in our lives. Not so much a phase like our career. Retirement needs to become a point in our lives that is a huge transition into something new. And that can include still working. We started this channel with that in mind and it occupies some of our time and leaves us fulfilled and a good reason to get up in the morning. On top of this we are very active with pickleball, cycling, yoga, golf, travel, exercise, grandparenting, and so much more. So perpetually self employed is a good way to live this phase if that is what you want.
I planned for my own retirement a couple of years prior, however then Covid came and left me out of work a year earlier as well as changing the project I was preparing to do as I could no longer travel internationally to buy the object I wanted. I have a very wide range of skills (Mechanical/Electrical/Aviation) and wanted to restore a 60's american car. I still repair motor vehicles now because I like repairing things but my dream project can no longer happen as I am getting too old to realistically see it through. I have something different to do every day.
It sounds like you are doing a great job of keeping busy and enjoying your life. Congratulations.
I'm currently 8 months into my retirement and think you did a great job of covering a large majority of the key points and some helpful suggestions as well. As a life-long "striver" I find that the steep drop-off of responsibilities after the initial relaxation period is over is a challenge to replace. I also miss the day-to-day social interaction with my former colleagues. I'm just now beginning to learn how to "enjoy" my retirement and am starting some new routines which will hopefully give me a better sense of fulfillment. Thanks for the content!
Your welcome, and thank you for leaving this comment.
I never really had a 1st year of retirement. I got laid off in 2008 when my company was bought by another company & the 1st few years i considered myself "unemployed". After several years with no luck, then i finally starting calling myself "retired". I was so young, so it was weird.
Well we hope you are doing well now as 2008 was a long time ago. Thank you for sharing this.
Moving into retirement due to downsizing from an executive position.... I can relate to this , still finding my way
It’s took me a while to find my footing and my routine. Journaling helps and so does a solid routine.
Thank you for addressing finances a bit. You guys are really funny. Thank you.
Our pleasure! We appreciate you being here.
I retired last June, spent a month traveling, another month going to the mall in the mornings with my wife and to the coffee shop after that, and then… felt that needed to get busy again. 😃Started to study for the insurance exams, 4 tests passed in the first seating and some Netflix series later started to asked myself what is next???? I get what you are saying, I’m 67, is not that I’m going to start and insurance career, but, thought that it will give me the opportunity to talk to people, and somewhat get busy! So far haven’t done anything with that yet.
This sounds like a good plan. We encourage everyone to think about some for of work or volunteering in retirement to stay busy, get fulfillment, build community and stay engaged with a community.
I retired at 65, got married and moved twice. My husband retired in April of this year. We enjoy every day, we found our new purpose and thus identity.
That is so WONDERFUL! Wish you two nothing but the best. Thanks for watching!
Thank you Guys!....I like the idea of having a routine...I am 68 years & will be starting my Reirement Journey on August 1st...Love EVERYTHING you say!❤
You can do it! Congratulations and enjoy the journey
I guess I'm surprised by this post. I retired over 7 years ago. My wife retired 2 years later. We have been together for more than 50 years. I get to spend everyday with my best friend. The only thing we "struggle" with is "what to do next. If retirement isn't everything you hoped it would be that can only mean you are doing retirerment wrong. 😁
Thank you for this. You are fortunate for sure.
As a retired physician, stopped working end of 2019 for long term medical reasons. My identity is fine but dislike having Dr. suddenly dropped in emails from money managers accounting firm as if 40 years of professional training is eliminated Addressed as a Mrs or Ms. Is this patriarchy or simply socially backwards towards financially independent women.? Not aware of older male physicians being addressed as Mr after leaving clinical practice.
Social isolation with Covid lockdowns began early in 2020/21 in Canada with no opportunities to embrace a wider female social circle in first year. As a retired single professional woman in N. America ( originally from London, UK) it is incredibly difficult to be included into a female group ( mostly married housewives/ part time workers) which have become closed to new members: book clubs etc. Hence planning to return to UK, with close access to London, for better cultural acceptance to older singles, despite living in Canada for 37 years.
Well ladeeda for you.
Having a routine has really helped me...but now it's my own customised routine unlike the routine required when working.
Love that!
Mine was just before Covid. I adjusted.
Thats great!
Just subscribed..I retired 6 months ago.. your channel is a godsend..ty!!!!
Thank you!!! We appreciate it!
I retired over 11 years ago and am enjoying life to the fullest. I truly enjoyed my career as a civil engineer but I did not enjoy getting up early in the morning to fight the traffic in getting to work or coming home in heavy traffic. I have always been an avid reader but during my working years I focused more on short articles instead of books. Now that I'm retired, I read a book a day in a wide variety of genres and am never bored. I take occasional trips to resorts as a change of pace and often attend reunions with my siblings as we get older.
I help my children with what they need and give them advice based on my experience when they consult me. My wife passed 16 years ago and am used to doing whatever I want to do when I want to do them. I can keep myself entertained reading and indulging in my hobbies of computer building, listening to music and just enjoying life. I go to bed early mornings and get up by 11AM to greet the new day. I have always been a night owl so it is fantastic that I can sleep as much as I need to without any set deadlines. Retirement has been great for me.
We are so glad you are making the most out of your retirement. Retirement can be great and wholesome. We wish you nothing but the best. Thank you for watching!
65 and finished working. wife passed 5 years ago. will take ss at 70.
been ''working'' since 13. happy to ''just stop''. i think that is because
my ''happy trigger'' is low. never interested in the spending and activities of
those around me. my ''identity'' is between my ears, not external. ''no routines''
i will say, it's a great lifestyle. my time is my time, and everyday is an unopened box of chocolates.
[it helps to be a ''happy hermit with a dog]. cashed out when she died and i have more
[cash] money than i can ever spend, and have a will in place to give it all to a single dad and his 4 kids.
Sounds like you are happy… that’s what it’s all about. Finding your own happiness. Thank you for the comment
Just retired few months back now I’m second guessing decision. Not on account of money just I don’t know what to do.
Thank you for watching! Take some time to sit and plan out what you will like to do with the extra freedom
I’m approaching retirement and the social isolation is going to be the high point of retirement. I’m naturally a hermit and am planning on moving rural with no neighbors, privacy, and quiet. The rest of retirement I’m finding terrifying.
You are moving through the first steps of finding what you like and what you fear. Addressing the fears early and finding your new purpose will be key! Thanks for the message!
Great video! I’m a 56 year old teacher and need to work till 60 to get my full Illinois pension. I’ve taught in 7 schools between IL and CO. I’m so burned out and all I can think about is retiring to FLA. Your advice is spot on about the potential pitfalls of an unwisely planned retirement.
Thank you for watching and I'm glad you found the video helpful! It's never too early to start planning for retirement and considering your options. Hang in there, you're almost there!
It was eight years ago and I can not figure what you are talking about. It was smooth and celebratory for me!
That’s great! We love to hear about success in retirement!
In my first year of retirement after working without a gap for 44 years and found myself really depressed. Looking for another job now.
Part-time work can bring excitement. Go for it!
Been retired four yrs still do the same exciting things before i retired
Interesting. My wife and I went back to work recently after semi retiring - we wanted to be around young people, get out of the house, exercise for body and mind. We are choosing what we do not being forced to go back to work for financial reasons so all we earn is for luxuries like nice holidays, nice clothes, nice things for our house.
Our friends think we are mad but its our life and we don't want to end up just wandering about trying to find something to do to fill our days. We get paid way less than our skills could demand but our respective employers know that and they know that they have to keep us really happy.
Just retiring - it can kill you if you don't get it right. You do need a plan and a routine.
Yes, planning and having a routine is key.
I feel lucky,I have a hobby of restoring older trucks for the past 35 yrs.Now I can work on my hobby without working 50 or 60 hrs a week.Retired at 62 and enjoying every minute.
I hope to retire in 5 years before I reach 70. I had planned to retire a bit sooner but the economy just doesn’t inspire confidence. Hope to ease out sooner if possible and starting to think of what the other side will look like.
It's good to go at your own pace. But also start planning your retirement. Think and write down all the things you want to do and before you know it, it will be time.
I'm a single man .. I think its harder on singles than married couples. I'm eligible to retire now but I need to do something than watch TV...I can't do too many hobbies now as I am working all day and tired at night. I'm thinking about moving when I retire but could be harder for a person.
Thank you for leaving this comment. You are not alone, there are many people in the same position. Retirement, especially in the beginning can feel like a wide open space of time. Trying to build in some routines is a great way to kick start your life. Weekly coffee with a friend, join a class or two at a gym, volunteer, reach out to some friends who are retired as well. Set some intentions for these activities and that may help get you started on some new routines.
It’s been the worst for me. I have no one to share my retirement with. No friends, no family really.
I just sit on my couch.
Been retired for a year and half.
Have some health issues.
Just started going to,the senior center for their exercise class and a dominoes game on Fridays.
It sounds like you are making great strides to get out and meet people. Good for you. It takes intention and it sounds like you have that.
Do some volunteer work. Gets you out of the house and engaged.
@@MuzixMaker , I tried that. I have a chronic cough (COPD) and was told not to come back 😕
Necklace is reflecting something in the room that is flashing. I’m completely distracted!
Hi- it looks like as our indoor lighting was adjusting to the outdoor sunshine the lights reflected off the necklace-‘thanks for noticing
Day 1. Played 18 holes of golf. Month later moved to Florida. Played 18 holes of golf every day. Then I discovered Senior Softball. Played 9 holes of golf in the morning, then two 7 inning games of softball. Lunch, nap. 18 holes of golf. Lost twenty pounds. 25 years later, I play Pickleball 6 days a week. Ride my E-bike everywhere. I buy a house with every market crash.
WOW. That's quite a story. Thank you for sharing it and keep it up
You have it figured out! Florida is the best..
It's enlightening to hear about first year struggles in retirement if only to motivate people to plan ahead.
Planning certainly helps.
I have two issues with retiring.
The first is what I would say is scary and that is the financial side. If my parents lived long enough to have retired they would of retired just after the 2000 stock market crash and would of have lost a good amount of their retirment savings then when the 2008 housing crash hit they could of lost their home and would of had to move in with me or one of my siblings. And that really scars the crap out of me thinking that I could lose half of my life savings a year after I retire.
The second part is not what I would say is scary. But what would I have to do if I did not have a job to go to to take up a good part of my week when i dont have anything better to do with my self which is most weeks. Now I have a very good job for having lots of free time. I work 12 hour shifts 7 days out of every two weeks. In two years I will max out my vacation days at 27 days a year. Depending on how I want to use my vacation days I could use two days of vacation and not have to report to work for an entire 7 day week. Now if I wanted to have a week off with a weekend in the middle of it so i can attend a fun convention then I would have to burn 3 or 4 days of vacation depending on if that was my weekend off or my weekend to work. Depending on how I want to use my vacation days I can go on 6 to 13 vacations every year.
Another advantage of keeping working is that since I don't actually need my job to pay my monthly bills I am maxing out my ROTH 401K and ROTH IRA every year. I'm slowly draning my taxable investments but I am fully funding my ROTH retirment accounts every year and at the same time not having to worry about a monthly budget like I would if I actually retired.
The last good thing about being able to retire but not is work is not nearly as stressful. Knowing that I can tell my boss off and quit at any time is a great way not to let work stress you out.
You have a detailed and thought-out plan. Thanks for watching!
My husband retired from teaching in June 2014 and I retired from retail in 2016. Our 1st few years was NOT what you talked about. In 2014, we dealt with his father's health issues and he died that December. I worked because my husband waited about a year for his teacher retirement pension to get sorted out. We spent 2015 getting rid of clutter, old papers, etc. Once I retired, we volunteered with Meals On Wheels for 4 years, took long walks and started traveling. Being retired, we took advantage of traveling in the off seasons to save money. The #1 issue that helps in retirement is having cash / investments saved. Without money, you're restricted.
Yes, financial planning is key to a comfortable retirement. Thanks for watching.
The problem is "What if you like and enjoy your job and it pays well "? And that's where I am at. So what do you do then?
Do what is best for you. Thank you for watching!
People who focus on their identity are those who are self absorbed and have no confidence in themselves as a person. Like they dont feel valuable enough if they dont have a title, power, influence or worth sans their job. Once they learn to focus on a different aspect of themselves, improve their personality, create sincere relationships, value experiences rather than stuff… then an only then will they find d true meaning of self worth. If u have friends that dont enjoy your company outside of work, outside of glitsy dinner settings, outside of fancy destinations….then you dont have real friends that like u for being u, the average person.
Thank you. We all need some form of identity as you clearly state. Its just when we have spent decades in a career, part of our identity is tied into that role. We need to shed that and focus on who we are now without that identity.
Social Isolation can be a big factor:
1. Your co-workers are not really friends; merely acquaintances.
2. Church can provide a great network of friends.
true I don't trust any of my co workers
I have been retired for two years, and my two concerns about retirement were: (1) What do I do with all the free time, and (2) How do I adjust financially.
The free time issue wasn't actually an issue, partly because I have hobbies I was doing before that continued when I retired, plus I relocated and had a list of projects to work on with my new house. I have finished most of the projects and am now looking at working part time starting January 2024. The financial issue is still being tweaked. I did a budget, which I found out was too conservative, and am still working out what my monthly expenses will be, partly because my budget addresses regular expenses, but I have been spending on the special projects. I plan to start traveling and exploring in 2024, something I have wanted to do when working, but didn't have the free time to do.
The social isolation issue mentioned in the video is an issue. I have always had the "circles of life" that overlapped somewhat, which for me were work, church and community volunteering, particularly coaching recreational soccer. I still have two of these, and if I go back to work part time, I will add the work circle back to the mix. In my case, I am building new relationships and friendships in my new location.
I love the deep thought you are putting into your retirement. With this kind of thinking and planning I’m sure you will do very well. Thank you for posting this.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and
worried about retirement. I've been in the red for a while now and although people say these crisis has it
perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
Yes the market can be volatile. We rely on our financial planner to help us navigate that.
Wife and I can retire right now if we want(early fifties) but neither of us is ready to focus only on each other all day every day. 😂
It’s great you are both on the same page! Thanks for the comment!
Get some individual hobbies
@@MuzixMaker We both love our jobs and have some pretty expensive hobbies.
What if u are small town have to drive 30mil. Or more don't what to movie
So much advice about retirement is associated with w2 employment. I've been self employed for over 20 years, pay my own insurance, and have multiple clients. It's a whole different ball game winding down a career like mine. It's more of a soft cutoff. I've found myself saying no sometimes and yes sometimes to projects and having clients try to understand my pace will be slower, deadlines more relaxed if they still want to hire me...
Thank for for leaving this comment but I do not fully understand your question.
Because we are programmed to be doers….not being…as in human being….not human doing…
Interesting perspective. Thank you
I sold my Yamaha Franchise/Commercial properties 18 months ago and retired. I do miss my job but I am still not settled into retirement. I don’t need money but I’m only 60 and might find another job. All these vacations are getting old.
Sounds like you have the beginnings of your retirement vision. We were where you are now and moved towards creating this business while balancing the freedom of being retired. Thanks for the comment!
Or a business, like me.
Not sure what you mean. Thanks for being here and leaving a comment.
Just retired at 62 after a job loss, worked 47 years. Truth be told, I'm having a tough time adjusting, being on a tight budget doesn't help.
It’s a hard transition but there are great resources available to help you as you move through it. Work on your plan each day and you will find a great routine
@@RetirementTransformedTY
Lol🤣
Yall too funny👍😄👌
Thank you. We try to interject some humor and make it fun.
Wait, is your necklace flashing?
Hahaha. No, it’s the changing in studio lighting when the sun goes in and out.
“I’m literally terrified” about retiring (said the teacher). “Terrified”? Really? You should plan for what retirement will be. Granted, it is a big change. But you can do LOTS of research/learning/asking how it will be.
Being financially secure is the number one requirement for a “happy” retirement.
Second is that you chose to retire vs being forced by circumstances.
You can enjoy retirement on a limited budget. It is all about planning and having the right resources to assist you in the process. It will not happen overnight, so take your planning process one day at a time.
OOh you guys were getting a little testy with each other. Maybe put on the gloves and give us a demo on how to solve problems between married folks in retirement?
Well…like with any couple who, once retired, spend alot of time together some days we are on the same page and some days not so much! No gloves though- lol
Try retiring during a pandemic..we are still working on it.
That certainly was a tough way to start. I hope you find a good rhythm and routine soon.
when you hate your job it's very easy to retire.
As long you have a plan set in place, your retirement journey will be a much better experience. Best of luck!
i am thinking the lady should go back to work as a CEO, it seemed a better job for her than being a CZcams influencer with her husband. I think the lady was probably better treated at her job and she made a lot more money.
Jody definitely does not want to go back to her old job and neither do I. We are enjoying doing this CZcams channel and hope that at least some of the content is helpful to you. Thank you for leaving your comment.
What’s with the flashing gold necklace? Kind of distracting
Hi- it looks like as the lights adjusted to the changing outdoor sunshine it reflected. Thanks for noticing !
Failure to plan is a plan to fail. Retirement is a process, not an event.
Agree totally!! Planning is key!
Who says that all early retirees struggle in their first year of retirement, or in their retirement period? I didn't, and I'm quite sure thousands of other early retirees didn't struggle in their first year. A person can't analyze everybody's early retirement base on one person's experience because, everybody's situation, finances and lifestyles are different. It's all how you manage your money, not only in retirement, but in life in general.
You are right. Plenty of people handle retirement well. But many don't and thats why we created this channel. We hope you find some of the content practical for you. Thank you for leaving this comment.
People you are talking about must have been living under a rock, no friendships, church, etc.
Well some people do struggle and we are hoping this video will help them.
You are expecting everyone to have the same personality as you. List maker, strict planner, etc. Not everyone wants or needs that
Thanks for the comment. We are not saying everyone should be like us but rather everyone now has a chance to explore and engage with all that makes them happy individually. Retirement isn’t a one size fits all time of life
First few words... "Maybe" dissing the wifes position and minimizing a fact. Talk about alienating your audience, didn't stick around for more swipes and dismissive comments. Instant dislike
We are sorry you don’t enjoy our videos and appreciate your feedback.
I'm there 11/10/2023 after punching a time clock since 1968. I am so thrilled to be sliding into home so to speak. I appreciate your wisdom and giving us up and comers a little encouragement and sharing tips. I'm solo, been solo and like it. I realize however this is the stage in my life to increase my friendships. I found your suggestions solid especially the importance of our socialization. Thanks💁🏼♀️
Wonderful! You will love this phase of life. Thank you for the compliments on our videos. We appreciate you for sure.