If you are 60+ and financially set after a career of work, what is life like?

[Anonymous]

I'm late 40s and will hopefully be financially independent by about age 60. Life could easily throw me some curveballs, but at least on a straight line trajectory, I should get there.

If you are already there, what's life like? What should I be thinking about now?

I'm picturing a decade or more of being healthy, energetic, and with the means to do all the things I don't have time to do now.

[Anonymous]

Plan to retire to something, not just from something. You have time to make those plans, so you're not one day suddenly sitting at home wondering how to spend your day.

You might choose to volunteer some of your time doing something you think you'd enjoy and which also has social/public good benefits. You might think of taking up a few new hobbies, ideally activities which will enlarge your social circle while proving enjoyable to you. Learning a new language, and/or traveling more is a retirement goal for some people. Learn to play a musical instrument, or renew your relationship with one you can already play.
Some retirees with no financial needs nonetheless don't fully retire at all, but transition to part-time employment in a lower stress environment with a schedule which still provides for plenty of leisure time. That kind of employment provides structure to a week, can often provide social interactions, and can contribute to a sense of having value because you are being paid for your time and efforts, even if you're not being paid very much.

[Anonymous]

Anonymous wrote:I'm late 40s and will hopefully be financially independent by about age 60. Life could easily throw me some curveballs, but at least on a straight line trajectory, I should get there.

If you are already there, what's life like? What should I be thinking about now?

I'm picturing a decade or more of being healthy, energetic, and with the means to do all the things I don't have time to do now.[/quote]

You need to make sure you are healthy and energetic now. There are plenty of 60-year-olds that aren't particularly healthy and energetic.

[Anonymous]

My 60 yo husband gardens, and during the winter, chops wood. He drives our youngest to her activities, has taken over all grocery shopping hunting for deals, and cooks more than 50% of the time. I still can't get him to vacuum, though.

[Anonymous]

Some people plan to relocate, a very impactful choice which merits considerable research and reflection in advance.

[Anonymous]

Watch the fixed expenses in retirement. Some retirees ramp-up their lifestyle, with an even bigger or more expensive home or a vacation property. To each their own. I wouldn't want that.

[Anonymous]

I'm already trying out retirement at 47. First few months was weird not having to go somewhere.There's no rushing anywhere anymore.
Getting rid of work clothes and knowing that my car will last much longer, was nice.
Kids are keeping me busy 10 more years.
I expect my expenses to go down at 60 as I plan to live abroad most of the year.

[Anonymous]

That’s a tough one that I’ve been worrying about for some time. I’m still working but I’m not far from retirement. I ask retired people what they do but it’s all dull stuff.

I’m not interested in golf, cruises and traveling just to entertain myself like a kitten with a ball of yarn. I’m not sure how to find a sense of purpose and not to feel like I’m just treading water until I die. I like my job a lot so I’m not looking forward to retirement.

[Anonymous]

Anonymous wrote:That’s a tough one that I’ve been worrying about for some time. I’m still working but I’m not far from retirement. I ask retired people what they do but it’s all dull stuff.

I’m not interested in golf, cruises and traveling just to entertain myself like a kitten with a ball of yarn. I’m not sure how to find a sense of purpose and not to feel like I’m just treading water until I die. I like my job a lot so I’m not looking forward to retirement.

Do you have a hobby? I have a wide number of interested but I’ve narrowed them down to less than a handful. I’ve been semi-retired but may head back to work full time for a few more years.

I agree that most stuff other people do is boring. But if they find satisfaction in what they’re doing why should they care what anyone else thinks.

The most important thing I’ve learned beinf around old people is having close connections with people. Not necessarily a lot but a few.

[Anonymous]

Anonymous wrote:That’s a tough one that I’ve been worrying about for some time. I’m still working but I’m not far from retirement. I ask retired people what they do but it’s all dull stuff.

I’m not interested in golf, cruises and traveling just to entertain myself like a kitten with a ball of yarn. I’m not sure how to find a sense of purpose and not to feel like I’m just treading water until I die. I like my job a lot so I’m not looking forward to retirement.

It's great that you know yourself. You need to cling to your job like a limpet or find another job after this one. People react to retirement freedom differently. My father couldn't find an occupation, and is now consumed with hypochondria and has become pretty much shut-in - it's sad. My uncle was able to do consulting work for many years after being pushed out of his company, and has a volunteer forestry gig that keeps him active and outdoors. He had to find his footing though, and dithered for a year or two after his forced retirement. My husband retired early and keeps himself happy with his outdoor hobby, cooking and looking after the kids.

[Anonymous]

I am 60+ and financially set but still working. I really like what I do and I do plan to work a little less hard over the next couple of years, but not ready to give it up just yet. And I will admit that the money ($1m+) is nice, and a little hard to walk away from.

I look forward to having more control of my life, being able to focus more on people I love rather than always catching up on work, and having time to do more fun things. I plan to spend at least a month the first few years skiing - either in one place or traveling around. We already have a beach house and will spend more time (maybe 5-6 months) there. More volunteering.

[Anonymous]

I just returned to work at 59 after being a SAHM and caregiver for the last 27 years. I have been very privileged to travel when I want and spend freely and volunteer - I’ve done some wonderful things, and enjoyed the freedom. But when my husband recently returned to the office a few days a week and my kids are launched and parents and in laws are gone I realized I wanted my own thing to do - and honestly my own money. Not working and no real purpose with kids and parents gone is pretty boring a lot if the time. There is only so much yoga, tennis. lunching and shopping to do. Days are long when your biggest responsibilities are making dinner and walking the dog. I love my job and paycheck. I love interacting with co workers I enjoy and interesting projects. Granted my job is not high powered or stressful but pay is good and I am so thankful to have it. I suppose the grass is always greener… but I needed more purpose than pickleball and book club and gardening and chit chat.

[Anonymous]

Typically, there are a couple of scenarios:

1) stereotypical/sedative - this is the individual or couple who live pretty basic lives. A lot of time is spent sitting around the house on the couch or in a recliner watching TV or streaming shows or reading the newspaper/tabloids/Insta /books. A lot of life is just routine living: preparing and eating meals, walking the dog, getting groceries, maintaining the house, washing clothes, etc. Occasionally, there’s a dinner out or intention to attend something local, like a church service or a concert on the village lawn. Once or twice a year you see the grandkids. There’s a lot of focus on frugal living, safe investments and worrying about running out of money.

2) active - this is the individual or couple who still does the mundane, but also has a lot of individual or social activities. Activities frequently focus on individual fitness, wellness and moving, like walking or yoga. Then, there are the social fitness activities, like golf, tennis, pickleball, etc. Then, there are the clubs, like a book club, an investing club, a needleworks club, etc. Then, there’s volunteering, like at the church, the school, the pet shelter, etc. Dining out is a bit more frequent and a bit more social, perhaps with another couple. Trips still include visits to/from the grandkids, but also include some cruises or other organized travel. Money is still a consideration, but a financial advisor might be used.

3) mission - this is the individual or couple who do some if the mundane and social stuff, but a significant priority is a personal goal or mission. Maybe it’s writing a book, getting a degree, teaching a class or mentoring youth, etc. Whatever it is, there’s still motivation to contribute to society as opposed to spending all one’s time in leisure. Money is still an issue, but one’s mission might draw a small salary, making it easier to budget. Also, there probably a financial advisor involved, mostly because you’re uninterested in money and care more about your mission.

These visions or retirement might be related to one’s education level, wealth, and earlier professional achievements.

[Anonymous]

Im nearly 60 and recently retired. I love not being rushed or having a packed day. I visit my older family members and we share stories and I help them out. I make time for my mental and physical health and preparing my own meals. I read and have a few hobbies I meddle with and I book trips wherever and wherever I want.

I love all the free time I have and not working. I have worked since I was 15 and just love not having responsibility.

The only drawback is if you have a parent or older child who needs support.

[Anonymous]

Anonymous wrote:Typically, there are a couple of scenarios:

1) stereotypical/sedative - this is the individual or couple who live pretty basic lives. A lot of time is spent sitting around the house on the couch or in a recliner watching TV or streaming shows or reading the newspaper/tabloids/Insta /books. A lot of life is just routine living: preparing and eating meals, walking the dog, getting groceries, maintaining the house, washing clothes, etc. Occasionally, there’s a dinner out or intention to attend something local, like a church service or a concert on the village lawn. Once or twice a year you see the grandkids. There’s a lot of focus on frugal living, safe investments and worrying about running out of money.

2) active - this is the individual or couple who still does the mundane, but also has a lot of individual or social activities. Activities frequently focus on individual fitness, wellness and moving, like walking or yoga. Then, there are the social fitness activities, like golf, tennis, pickleball, etc. Then, there are the clubs, like a book club, an investing club, a needleworks club, etc. Then, there’s volunteering, like at the church, the school, the pet shelter, etc. Dining out is a bit more frequent and a bit more social, perhaps with another couple. Trips still include visits to/from the grandkids, but also include some cruises or other organized travel. Money is still a consideration, but a financial advisor might be used.

3) mission - this is the individual or couple who do some if the mundane and social stuff, but a significant priority is a personal goal or mission. Maybe it’s writing a book, getting a degree, teaching a class or mentoring youth, etc. Whatever it is, there’s still motivation to contribute to society as opposed to spending all one’s time in leisure. Money is still an issue, but one’s mission might draw a small salary, making it easier to budget. Also, there probably a financial advisor involved, mostly because you’re uninterested in money and care more about your mission.

These visions or retirement might be related to one’s education level, wealth, and earlier professional achievements.

Retired about two years now and this is very accurate to what I see around me and people I know and have met.