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Preparing for retirement

Posted on 10/22/2014 2:53:18 PM PDT by A Cyrenian

Any Freepers preparing to retire in the next 5 to 10 years?

What are you plans?

What are you doing to get ready to enter the next level of your life?

I'm considering retiring in 3 - 5 years and I feel like I don't have all my ducks in a row.

Know what I mean? I'm not asking about financial advise, but would like to know what one should do to be ready to sleep in the first day of retirement.


TOPICS: Business/Economy; Education; Miscellaneous; Travel
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1 posted on 10/22/2014 2:53:18 PM PDT by A Cyrenian
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To: A Cyrenian

Retirement? What’s that?


2 posted on 10/22/2014 2:55:13 PM PDT by Paulie (Get off the grid.)
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To: A Cyrenian

Find a hobby!
Whiloe work “forces” you to get up in the morning....if you do not have a reason to get up in the morning when you retire, your life will very quickly begin to suck!


3 posted on 10/22/2014 2:55:18 PM PDT by MagUSNRET
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To: A Cyrenian

I think you are looking for the prepper ping list.


4 posted on 10/22/2014 2:58:03 PM PDT by VRW Conspirator (There will be another crusade in our lifetime.)
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To: A Cyrenian

To be happy in retirement, you need to have some kind of schedule, and some kind of regular activity. If you plop on the sofa and do nothing, you will be dead in 3 years.

Nobody says you have to wake up at 5am and have a highly regimented day, but maybe a morning walk, read the paper, eat some breakfast, some sort of religious activity/devotional, and then do what you want.

A second word of caution, new retirees spend most of their money in the first 5 years. If you know when you want to retire, start curtailing your spending so you will be used to living on less income, and be better disciplined in spending.


5 posted on 10/22/2014 2:59:13 PM PDT by SpirituTuo
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To: Paulie
Retirement? What’s that?

I dunno. Maybe a public employee thing.
6 posted on 10/22/2014 3:00:20 PM PDT by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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To: A Cyrenian

Get on a written budget and stick to it. With 3-5 years you will see and be prepared for all the nuances, from practice.


7 posted on 10/22/2014 3:00:31 PM PDT by IllumiNaughtyByNature ($1.84 - The price of a gallon of gas on Jan. 20th, 2009.)
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To: A Cyrenian

After you ‘settle in’ to it, you will find your time usually full, because you create ways to make it that way.

Find things you enjoy doing — inside and/or outside.


8 posted on 10/22/2014 3:01:15 PM PDT by TomGuy
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To: A Cyrenian

I am interested in replies to this question. I will reach retirement age in less the 10 years, and have wondered what comes next. I’m set financially for retirement but not sure what I will do with so much unstructured time.


9 posted on 10/22/2014 3:01:43 PM PDT by Dilbert San Diego (s)
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To: A Cyrenian

IMHO, I think our tax code, this country’s crony financial system, zero interest rates, massive money printing, and the need to fund massive government debt have basically made the middle/working class an extreme underdog in long-term financial planning.


10 posted on 10/22/2014 3:02:49 PM PDT by PGR88
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To: A Cyrenian

Buy Scotch now so it will not cut into your retirement spending later.


11 posted on 10/22/2014 3:02:50 PM PDT by BBB333 (Q: Which is grammatically correct? Joe Biden IS or Joe Biden ARE an idiot?)
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To: A Cyrenian

You didn’t want financial advice but you mentioned wanting to be able to sleep. A major step is to detail out your expected expenses over the rest of your life to estimate how much money you need. It is the most critical element. You can only do so much in saving more money in 5 years but you can control how much you will spend. My goal is to maintain exact lifestyle in a retirement which will happen soon for me. But if that is not an option you can figure out what you can cut back on to make it.

To sleep you need to have all the info you can get. The worst thing would be finding out you are in big trouble after you retired and there will be no more money coming in. Getting another job may sound good to some but is not easy in this economy for an older person. Just my thoughts.


12 posted on 10/22/2014 3:04:56 PM PDT by plain talk
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To: A Cyrenian

I thought about retiring for a bit. And then I got up and went to work as usual. That is right for me.


13 posted on 10/22/2014 3:06:21 PM PDT by jwalsh07
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To: A Cyrenian

Be debt-free and stay active, and you can live comfortably on a modest amount.


14 posted on 10/22/2014 3:07:31 PM PDT by ought-six ( Multiculturalism is national suicide, and political correctness is the cyanide capsule.)
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To: A Cyrenian

I am envious of people who were clever enough to work a civil service type job for decades and can now retire with a pension and health insurance to fund the rest of their lives. Unfortunately, I cannot even imagine retiring and I am not all that far off the usual age people start retiring. I do daydream about what I would do if I could retire, but that is about it- daydreams.


15 posted on 10/22/2014 3:08:30 PM PDT by sueuprising (The best of it is, God is with us-John Wesley)
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To: A Cyrenian

If your job is halfway tolerable, and you’re healthy, don’t retire!!

I sold my company at the end of 2012 and I have regreted it ever since.


16 posted on 10/22/2014 3:09:21 PM PDT by jack308
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To: MagUSNRET
I am sure you have a number of projects you want to complete, don't feel like you have to get them all done in the first weeks or months.

Take your time "despacio" if you get all the stuff completed in a few weeks you will be board in a month.

If you do everything today you will have nothing to do tomorrow.

Relax, you now have the time to do things the right way and not the just get it done way.

It took me all of 15 minuets to settle into retirement. Above all enjoy your retirement you earned it.

I almost forgot at least 1.5 hours on FR daily is a requirement for long life.

17 posted on 10/22/2014 3:10:08 PM PDT by usurper (Liberals GET OFF MY LAWN)
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To: A Cyrenian
What I'm asking is, how much time do you allow when you apply for social security? Medicare?

For those of you who want to ask, what is social security, what is retirement, please keep your thoughts to yourselves. You're no better than someone posting graffiti with your posts. Grow up.

For those that can contribute to this thread, I thank you.

18 posted on 10/22/2014 3:10:25 PM PDT by A Cyrenian (Don't worry about stuffing the bus or filling the fridge. Try filling the Church.)
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To: A Cyrenian
A Financial Planner is probably a good idea, especial if you are a worrier of a detail oriented. They can diversify your investments and roll over IRAs and 401Ks. They can tell you how best to apply for the different parts of Medicare and possibly plan for its absence. There are too many possibilities and you did not give much data. Keep your stuff secure. My bank planned my retirement investments.
19 posted on 10/22/2014 3:10:55 PM PDT by mountainlion (Live well for those that did not make it back.)
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To: jack308

I always think of Bear Bryant dropping dead a few months after retiring.


20 posted on 10/22/2014 3:11:21 PM PDT by dfwgator (The "Fire Muschamp" tagline is back!)
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