Comments on: 10 Things I Didn’t Expect in Early Retirement

By: Jim In Indiana

Jim In Indiana — Sat, 05 Oct 2019 14:55:17 +0000

My life sounds similar to yours in quite a few ways. I was kind of an only child (all my siblings were gone by the time I was old enough to interact with them much), so I like to be alone. I got a technical job that paid well. I hated my job – mainly because I was around people. I saved enough to retire at 45.

I’m guessing I’m more of an introvert than you but I’m also different than you in that I find retirement…boring. I want to sleep too much. I have no energy. I hate that. However, I hated being around people much more so I would never go back to that.

Since I live in Indiana, I’m thinking a big part of my problem is that there’s nothing exciting here. If you live in Florida in the winter you’re cheating old man winter. I’m thinking that would be exciting enough to get me motivated to exercise more. If in the summer you live in Colorado (or South Dakota Black Hills in my case), maybe the beauty of the mountains and the challenges of climbing hills or mountain bike riding would maybe enough to make it not so boring? Not sure. I haven’t been able to find out yet. My wife insists on working yet so I’m stuck in Indiana…and winter is coming. Ugh!

By: J. Money

J. Money — Thu, 18 Apr 2019 10:11:39 +0000

In reply to Gina. So glad to hear it, Gina :) Well done on the killer turnaround!!

By: Gina

Gina — Thu, 18 Apr 2019 02:05:35 +0000

As a single female who had never made enough money to save, I went into a panic at the age of 50 when I saw a woman even older than myself stocking shelves at a Walmart.

I had also just moved into my first home and had a 30-year mortgage looming ahead of me. After a 5-day depression and panicking like a big dog, I decided it was time to make some changes.

First change I stopped spending – for real I stopped spending unless it was absolutely critical to my survival.

Second I cut food cost down to $3 a day. I’m from the south I can cook/eat well on almost no money. I was shocked at how much I saved just from cutting mindless spending out of boredom at the grocery store, department stores and malls.

I sold everything I had that was of any value regardless of what it was and put that money toward paying off my 30-year mortgage.

I was absolutely shocked at how much money I had if I didn’t spend it mindlessly.

10 years later my mortgage was paid off and I have zero debt to my name.

I do get the question frequently, well what do you do all day. And my answer is always the same – any damn thing I want!

I’m with you on the library thing (I’ve been addicted to books since I was a young child and now I can read as many as I want).

oh and I love Mondays I get up and go outside and say oh hell I could walk around the neighborhood naked cuz everybody’s at work. Don’t worry folks I don’t, but the point is I could.

Retirement, AKA not working to have to survive is amazing!

By: J. Money

J. Money — Tue, 02 Oct 2018 18:23:21 +0000

In reply to DS. Congrats!! I'm digging that $1/hr of entertainment idea - might have to steal that one for the blog, thank you ;)

By: DS

DS — Tue, 02 Oct 2018 16:14:11 +0000

I recently FIRE-d my employer(s) and retired!

The biggest trigger for me was realizing that all of the money I was earning was immediately spoken for; i.e. Netflix, Hulu, Prime, Comcast, TrunkClub (gotta look good to make the big bucks), and more. Individually these were miniscule expenses but they really do add up. As a result, I created what I call the ‘Buck an Hour Rule’. Basically entertainment should never cost more than $1/hour of your income. That new video game for $70 should return no less than 70 hours of actual entertainment. A $60/month cable TV bill equates to 60 friggin hours in front of the boob-toob – practically a whole WEEK dedicated to watching TV (insanity!). Not everything fits $1/hour (car, etc), but you CAN calculate the cost/hour and see that $600/month for that nice car you drive 3 hours/day is not a good way to spend your hard earned cash.

I am a long time tech-wizard who never really made a boat-load of cash, spent a lot on trivial stuff, and made some stupid mistakes financially, but managed to save enough in 401k and home equity to do ‘something’.

So….

After about a year or so researching the cost of living around Colorado, housing (lot size, house size, cost, distance from neighbors, access to groceries and medical), etc. We found a few prospective targets. We cashed almost everything in and bought a nice-enough place in Dove Creek, CO for next-to-nothing (cash). We no longer have a $2500/month mortgage (plus utils, taxes, etc). Family of four living well for under $14K/yr now. No commute, no stress, not a single luxury; like Robinson Crusoe, as primitive as can be.

Never really thought I’d be able to retire, let alone at 51.

By: John G

John G — Tue, 02 Oct 2018 15:27:55 +0000

really enjoy the articles and feedback from people. I recently returned to Colorado after being gone almost 30 years. I too am getting back in shape to conquer the pikes peak trail. Have too now that the Cog railroad is out of commission:-)
I grew up in a lower middle class family, but have saved my whole life, even when I was at the poverty level starting out in the AF. (So I agree with your statements about “Most of the people who say they can’t get ahead simply don’t want to take the steps needed to get ahead”). I had even saved $2,000 by the time I started HS with a paper route (jez did we ever have those:-))

I have an asset portfolio that statistically should more than allow me to retire now. My greatest hurdle right now at 54 is the fear factor.How did you overcome the fear/change of mentality to get into a spending mode instead of an saving/earning mode? Or was that not a factor for you?
Thanks and keep up the Blogging!

By: Wendy

Wendy — Wed, 19 Sep 2018 19:08:05 +0000

Quick question: Since you sound like you’re financially responsible that you remain so in retirement and that you still have a budget that you follow. What do you base the income side of your budget on since you’re not working? Is your investment income enough to cover your monthly expenses and still grow your nest egg? Thanks for posting this inspiring and helpful information!

By: J. Money

J. Money — Thu, 16 Aug 2018 15:13:51 +0000

In reply to Jim. BOOM! So much more fun doing whatever you want, and when you want. Excellent job taking advantage of all those opportunities, even in "retirement"! :)

By: Jim

Jim — Thu, 16 Aug 2018 14:27:43 +0000

I retired from my high-stress government job at 51 with a full pension and a rather large asset portfolio from having saved and wisely invested over many years. As with you, my friends couldn’t comprehend my decision. I also turned down job offers. I started a blog (one post read: “Please Don’t Offer Me Work”), which attracted a growing audience, including journalists. I started getting messages from prominent publications to contribute articles, which I jumped at. My articles, in turn, attracted a readership. I then got calls from CNN and other leading networks to appear on their programs to offer commentary. Today, I’m a journalist and commentator – but on my terms. No pressures, no stress.

I’ve always kept in excellent physical shape. My wife and I travel and otherwise enjoy life pretty much free of financial stress, even with two kids in college. Lesson: if you play your cards right and are willing to be bold, you, too, can jump off the rat race train.

By: Paul Francis

Paul Francis — Mon, 13 Aug 2018 21:48:52 +0000

Your experiences and observations parallel my own to some extent. I found that doing some short term work gigs really helped. Thanks for sharing.