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Life After Early Retirement

Writer's picture: Life is Literally a BusinessLife is Literally a Business

Laid off in 2011, I quickly became disillusioned with living among those searching for employment. I feared I would start screaming if I had to face one more twenty-/thirty-something hiring manager. Or state qualifications that obviously intimidated my interviewer. 


The time to seriously consider early retirement had arrived. But what would it look like?


Now, almost fourteen years later, I’m happy to share valuable insight I’ve gained.


It may initially unnerve you.  

You might experience stress or anxiety the first morning you wake up and realize you have no place to go. Me? I turned over for a few more winks. Then got up ready to start a new experience. 


You have to form new connections. 

Suddenly, you no longer network with people you’re used to seeing and working with every day. They’re busy with their lives and their jobs, so you must become busy with yours. You may still have nearby family to interact with; however, when retired, it’s time to make new friends. Explore new opportunities and interests, join groups and participate in meet-ups. 


You are not used to having so much time on your hands. 

Boredom comes easily when you face it all day long every day with nothing to do. Which brings me to my next point. 


Developing a retirement plan is the way to go. 

Knowing what you want to accomplish now that your time is your own is the first step towards an enjoyable, meaningful retirement life. Are you committed to full-time retirement or do you want or need additional income? How will you earn extra cash? When and where do you plan to travel? What else have you always wanted to do but never had the opportunity?


Your plan can be whatever you want. If you’re an organized person, it can be a logical step-by-step strategy. Or you can be bold and experiment to see what works best. Either way, don’t be afraid to make changes. Remember, you are the captain of your ship. When something isn’t working, you can steer in a different direction. If you think about it, retirement is like running your own business.


And you wanna know the best part?


You’ll probably have more than enough money to retire comfortably.

Bill Perkins, author of “Die With Zero,” has the right idea. We often spend our entire adult life saving for retirement and continue to scrimp when that time comes. He suggests spending what you’ve saved on your needs, enjoying life experiences, and helping others. 


I totally agree, but with a caveat. I am still a firm believer in maintaining an emergency fund. We are living in precarious times and now more than ever, preparation for what may come is a good idea. 


Perkins also points out:

  • Excessive saving for retirement robs individuals from life enjoyment prior to retiring. This is why I advocate for creating budgets that allow you to allocate funds so you can live your best life now and through retirement. 

  • Healthcare costs can be detrimental no matter how much you’ve saved. Therefore, it’s best not to stress over something you can’t control. Do your best to maintain good health and make sure you have a reasonable amount of medical insurance. 

  • Your net worth is likely to increase during retirement. As we get older, our debt and expenses tend to decrease. As far as making those retirement dreams a reality is concerned, financial advisors tell you: 

    • Ages 60-74 are your Go-Go Years. These are the years you will spend the most money on your dreams.

    • Ages 75-84 are your Slow-Go Years. You start to spend less on making your dreams come true.

    • Ages 85+ are your Won’t-Go Years. You spend even less money on this goal.


Personally, I’m enjoying the Go-Go years. I get up each day knowing what I want to accomplish. And if I don’t achieve the day’s goal(s), it’s OK because there’s always tomorrow. I work part time doing something I’m good at. So, no pressure. I earn extra income while offering a much-needed service at a discounted rate, which is my way of giving back. I travel when I please, and as the mood strikes, you might find me out and about or in my pajamas all day.”


So, if you have the skills and qualifications to mentor your boss, but not what it takes to get the job, it might be time to think about retiring. Check out Early Retirement Sweet Spot to see if you are financially prepared. If so, I say go for it!





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