Fifty Plus (50+) - Closing in on retirement? What are your plans once you're there?

OK - this is the 50+ forum yet there's quite a few of us who haven't quite made it to retirement yet. Some by choice, some by age and some, out of necessity to work.

For those who haven't retired, what are you going to do besides cycling to stay engaged and challenged?

"I guess it comes down to a simple choice really, get busy living or get busy dying." Andy Dufresne - The Shawshank Redemption

I've got a bit over 5 years to go - and am just as focused on retirement as I was on my very first day with the Company.

My wife doesn't share any of my hobbies so there's little hope that we'll participate in the same things. Still, we do find lots of common ground.

For example, she loves to watch the TdF - not so much for the racing but for the scenery. She calls the cyclists that chases downs the breakaways to win the race, "little devils". That cracks me up. Watching the TdF has allowed me to plant a seed that we can find some small town in France or Spain or....??... to live for a few months during the summer heat in Phoenix. She loved that suggestion.

I took bass lessons a few years ago - right now, I'm concentrating on cycling but I'm looking forward to picking it up again in the future. I'm the first to admit that hearing the nuances in the music is getting tougher though.

Kayaking & camping - love being on the water. I've done a couple of trips, kayaked the Alabama River from the new capital (Montgomery) to the original captial (Old Cahaba) a few years ago. That was really training for a kayak/riverboat trip on the Rio Negro (Amazonia) in Brazil. When I returned, I told MrsK7 that I could live in a small village in the Amazon. She said I could - after the divorce. I need to figure out another angle to get her there with me. She's from Brazil originally but when asked, your average Brazilian would rather go to Disney than the Amazon.

I hope my body holds up well - this is my second full year back in cycling and I've had absolutely no issues...yet. I'd love to do Ragbrai a few more times and do some of the larger brevet events. I've got LEL and PBP on the schedule for 2013 & 2015 respectively.

What about you? What are you going to do as you move into "retirement"?

Gary,

I'm also thinking about retirement, but have a ways to go. Started a new career on 20 December of last year, with the State of Florida, Florida Forest Service and intend to work until I'm70 years old (another 12 years). I currently commute to work on my bike most days, and really enjoy riding not only to and from work, but on the weekends with friends or when running errands. So, what is my plan for retirement? I intend to ride across this great country of ours 'at least once' when I'm 70. My wife doesn't ride (right now) but we have done week long cycle tours in the past where I ride, and she drives the support car. It works well, we spend lots of time together, and plenty of time apart. For the ride across the country, I expect we'll purchase a motorhome for her to drive, and I'll ride doing 60 or so miles each day. In two months, we're on the west coast and looking for another trip to make. The idea of seeing the country 60 miles a day really appeals to me.

Good luck with your plans!

Tractor Tom in Okeechobee, FL

Tom...

Thats great! I love your plan and it sounds like a great adventure!

I say "5 years" but that's not set in stone. My wife is six years younger and she's worked to support her parents since she was 14 and she says she won't stop until at least 60. I may do like you and start a second career until she retires. Or maybe stay on the job with Big Paperclip until they run me off.

In any case, it's nice to have options! Good luck to you also.

I'm close like you too. About five more years, but if my satellite instrument is still flying, I'll probably stay on until it runs out of fuel and comes crashing back to earth. As much as I love my "job", retirement is always near the front of my mind. Because I'm not married, and family has either died or have scattered over the country, my options are wide open. I am also looking to Europe and South America, but that will depend on housing prices recovering within the next 5-6 years. I'll probably continue to teach part time to keep my mind active and ride and kayak to keep my body active. Lot's of exploring too.

Just got there and I can tell you that it is great.

Finance is a worry and since 2007 it has been a big worry but I planned to have no debts when I did retire and that worked fine. Own my own House and the car is paid for and no other debts whatsoever. Also managed to get enough money aside to pay for any major items like the boiler going bang or house repairs so Just a reduced income from pensions but no money problems.

But I am a keen gardener and that has seen some major maintenance in the last 3 months. Unfortunately the weather has not been good this year but what is a little bit of rain and wind when you are enjoying yourself (Well-- a lot of rain and fair amount of wind) Physically that has kept me busy and has been enjoyable. Cycling has not gone as good as I wanted -due to the weather again- but that will be increasing soon. In preparation for that- I got N+1 in february as the other road bikes are 6 years old now. Haven't ridden much this month but I no longer use a car for any ride up to 10 miles. Have a beater for local shopping and if it can fit in the pockets or a small knapsack- then the bike is used. That at least has kept milage up but not effort.

Incidentally- Two of us retired on the same day from work. The other one had no hobbies was one of the moaners that finds fault in everything. Wonder how he is getting along-- not really as I couldn't stand the bloke.

Think the art of a good retirement is to keep busy. Providing you have the finances to allow a worry free existence- then no problems. Don't look for an easy life if you have always been active. Only thing is if I knew how hard it was going to be- I would have chosen something else to do.

The plan is to pull the trigger in 2 years.
My military retirement, 401, and SS should keep the dogs at bay, if not, just cut back somewhere.

Only thing I have planned is a long walk on the Appalachian Trail starting in Maine and heading to Georgia.
I have been thinking about this since I was in my 20's, but life has a way of changing your priorities.
The wife has been a big help encouraging me and letting me spend the money to gear up to give it a go.

As long as I can drag my tools around and groups like Habitat for Humanity need some help, I plan to stay busy.

I'm going to buy a motorhome and drive to where ever it's 82* at the time.
Get on my motorcycle with a full tank of gas with no idea where I'm going

Think the art of a good retirement is to keep busy. Providing you have the finances to allow a worry free existence- then no problems.

This is definitely the key to a successful retirement. I retired in October (wife retired first of last month) and our goal was to become debt free before we quit working. Having reached that goal ten years ago, everything went into a retirement fund and that has given us a nice little nest egg to do what we want to do without having to worry about other financial issues.

We plan on cycling throughout the state and then throughout the U.S., as well as doing some European vacations. We have already purchased the bike carrier (a Ford Transit) and are fixing it up to start our journeys. As for other things to do while not traveling, there are too many things to do in my area that will keep us from sitting on the porch and watching the grass grow.

My plans are very similar to some of those already expressed in this thead.

1) Retire at 70, as did my maternal grandfather, when forced IRA withdrawals and SS distributions remove the last economic incentive to keep working.

2) Fix up the house.

3) Enjoy more concerts, operas, ballets, plays, etc.

4) Spend more time playing piano, a talent I have horribly neglected during my working years.

5) Do more volunteer work -- Habitat is appealing.

6) Spend plenty of time w/ family, w/o being a burden to any of them.

7) Keep up my fitness regime, including bicycling, hiking, and enough weightlifting to preserve what little upper body strength I have.

8) Run for City Council, as numerous friends have asked me to do.

I plan to retire in about 4 years, give or take. I write & support software that I've written so I can do that from anywhere and it takes little time. I plan to be somewhere other than here for the Jan-Apr months. Probably start by vacationing during those months in Phoenix or similar. Would also like to do it one year in France or Italy. Money should be fine as I'm debt-free and after 2008 I moved all of my investments into my own hands and have been trading successfully on my own since then. Trading is also a fun activity to keep me mentally active & not bored. My ideal retirement would involve taking a 3 hour ride each morning, come home for a shower/lunch and then see how the markets are doing and do a bit of trading. The rest of the day could be spent sitting on my a$$ or in a hot tub.

From someone who IS there

I keep busy by

1. A VERY active physical life - swimming, weight lifting, stretching, bicycling, etc. My wife also rides and does a lot of aquaerobics..

2. I am involved in a great number of advocacy groups of which I spend seeral hours per day.

3. I am involved in a singing group - we sing all over the state

4. I mess with BFN a bit.

5. We take mini vacation - often associated with my singing group traveling to various parts of CO and Wyoming. I.e., this next week, we are singing in Hotchkiss. My wife and I will take bicycles, stay in Carbondale and bike the Roaring Fork River, go to Hotchkiss, sing and stay there one night, then go to Gunnison and explore the Black Canyon of the Gunnison National Park, then go to Crested Butte, then home - a 5 day vacation.

6. We have been on several cruises.

7. Unfortunately, we have a multitude of MD appts, due to my wifes medical situation.

And, of course, time with our children, now 48 and 45 yo.

I wish there were more hours in the day!!

With one set of grandkids having moved to Colorado and another set getting ready to move to Pittsburg, I imagine I'd do a modest bit of traveling.

If I could do whatever I wanted to, I'd try bicycle touring, credit card variety. It sounds like fun.

I just retired. I firmly believe a person does not get to reinvent themselves in retirement. The person you were before retirement is who you are in retirement. If you’re a whiner, unhappy, always finding fault in those around you; well, guess what, retirement is going to suck. If you were happy before retirement, were active, had good hobbies and you find the good in people around you, retirement is going to rock!

As for money, we don’t have much, just enough. Like my mom always said about having kids, “If you wait until you can afford them, you will never have them”. My wife and I have always picked time over money. You have a chance to get money back, you never get lost time back.

What do I do? Well, in about an hour I meet the club for about a 40-50 mile ride up the coast and through the mountains; never could do that working. Tomorrow is kayaking. The day after that, watch my two grandkids and when I can find the time I squeeze in a house repair project.


Best of luck to you

Lots of great take-aways from the various posts here. It does my heart good to see so many folks who are so optimistic about their future "after work."

Retirement? What is this thing you call retirement? Is it a word from a bygone era?

I plan on retiring in less than a year. I am looking forward to spending more time with my dogs.

I'm going to buy a motorhome and drive to where ever it's 82* at the time.
Get on my motorcycle with a full tank of gas with no idea where I'm going


Exactly as I did but wanted a VW T25 Campavan--RV to most of you. Looked around and could not afford one or the ones I could afford were beyond my capabilities to renovate.

Luck came my way as A Customer of mine had heard of a Trade in that did not reach the right price. Looked at it and bought it. Plenty of work to do so it will be next year before it is up and running. Already planning the holiday to France for a music festival and hope the TDF will see me at the top of a climb showing off the 50+ jersey

http://i1268.photobucket.com/albums/jj566/VolKS47/VW%20Camper/DSC00033.jpg

Keep busy but do not take on anything above your capability. You have to have some "ME" time aswell.

Retirement happened to me by default when I was laid off last year; basically forced retirement but I didn't fight it too much. I planned to take 6 months to unload and idle down; unfortunately, things were thrown my way and I didn't say 'no'. I highly recommend to anyone planning to retire, or newly retired, to take at least a few months before making any new outside commitments. Idle down, adjust to your new "schedule" (or lack thereof). Then, add things to your plate as they come along and only if they fit your values and meaningful goals.

Hi folks - new to this forum even though been registered for sometime. Anyways, I have been semi-retired for a number of years now.... not sure if I will ever fully retirement, because I still like my profession. But might move to Rancho Mirage, CA to ride and play golf; essentially what I do now; :) just throw in more travel to ride and golf trips.

I retired at the end of 2011 and from where I sit it's all it was built up to be. We aren't wealthy but do have enough to be comfortable. I am very fortunate my wife shares the same cycling obsession as I do so we ride often and are planning a cross country tour in the near future. As others have said give yourself a few months to settle into your new routine and have fun you earned it, I know I did.

Retirement? What is this thing you call retirement? Is it a word from a bygone era?

Two bits of wisdom: Never tell your plans to God. And as my 74 year old financial adviser says: The new retirement package. Do you have a job? Answer yes, then keep it. Answer no, get one.

262618
Retired from Tucson back in '95 (a bit cooler thanPhx?!) and we escape the summers by heading north for 3 months. Have stayed in such diverse places as Oregon, Idaho, Utah and Minnesota.
Yup, we bring our tandem (a great idea for you and spouse maybe?) and get to see/do all the local stuff.
We have traveled lots (all 48 continental states) and have a great time.
Ages 80 and 77 . . . and still having a great time!
Pedal on TWOgether!
Rudy and Kay/zonatandem

I am there but it was due to layoff. Could have stayed on as first recall but didn't like the job much. Spent 4 years before retiring building a wood shop and now do woodcrafts at a local market. Unfortunately the cost of living in Alaska is getting crazy, 130. electric in the summer with 21 hours of daylight, which is low. So I am going to Thailand, wife is Thai, do a little farming and a lot of riding. Have a trek 7.2 there and found a 86 schwinn le tour this summer that will be rebuilt and taken to Thailand this fall. Life is good. Oh, I haven't been late to work yet!

K7, how can you be from AZ & not see an RV in your retirement future!! I credit AZ with instilling in me the desire to retire as early as possible and go have fun like all the snowbirds do :)

We already have the RV, a little Winnebago View that goes anywhere & a lot on Hilton Head Island in case we get tired of vagrancy or can't afford the cost of campsites. This I seriously doubt as the 4 years we've had our View, we've become experts in and actually prefer free & cheap camping. We're keeping a "handicapped setup" house here in Yuma and a park model on a lake up north, both of which we currently rent out.

DH was unceremoniously "retired" when his employer went out of business in 2008. But it worked out great cuz my clinic took on another doc just after that, freeing us up for some 4 day weekends and 2 months off every summer. Time used for RV and bike touring in various combos. Don used the opportunity to get his bad hip replaced, followed by 2 new knees. I'm calling it quits in 2014 and we should be down to few enough dogs to go RVing by then.

There's no shortage of volunteer work for veterinarians and I can probably come back and work at my clinic during snowbird season if I want to pick up paying work. I'll be spending months instead of days at the Scooby greyhound shelter in Spain. Of course we'll bike and I may even give up running and instead take up (gasp) golf with my husband:eek: Once I found out that you walk 3 miles per game, I was sold, just don't have time for it now.
Love, love, love talking and thinking about this!!

Still 15 years to retirement. At that time, I'll be entirely out of debt, and I will have rental property, Medicare and SS. My only expenses will be taxes and maintenance.

I plan to be that old guy with the basement workshop where you wheel your bike in, the old guy digs around his parts bin, pulls out a replacement part, and fixes your bike. $5 or mow my lawn, your pick....

Of course that will never happen. That's from my childhood, not the childhoods happening now.

A guy can dream, though.

One of my considerations in deciding when to retire is heath care. My wife is 2 years younger. I will be 67 when my wife becomes eligible for medicare.

Those of you who retire before medicare kicks in - what do you do for medical insurance? Do you go without at risk? Do you pay the $20k per year or whatever it costs to buy it?

My plan was just to fork out the $20K for both of us til Don hits 65 in a year. Then I'll have 11 years to go just paying for myself which is considerably cheaper since I don't have cancer or anything else exciting / expensive like him. As long as I pay my AVMA dues, I can purchase their same insurance that we use now. Little hitch in the giddyup with the passage of ObamaCare. I received a letter from the AVMA saying they will drop their health insurance program if ObamaCare happens as it would require them to take on anyone who wants to buy it, not just the current program for veterinarian AVMA members. Soo . . . I hold out hope for a big Republican takeover in November. If not, ???? Whatever happens, we are retiring! Already put it off for 2 years when the economy tanked. Not waiting longer!

Interesting perspective. I take it you are self employed. It's good you have the option of buying through your professional organization.

I'm sort of in the other boat. I work for a large aerospace corporation. When I retire, if the PPACA is allowed to go into full effect, my wife and I will be able to purchase heath care insurance from my former employer at the employer's cost. I'm not sure what that will save me compared to buying insurance on the open market myself, but hopefully something.

I first retired in 1999 at age 52. I had been very fortunate to get into computers in the late '60s and had a profitable computer management consulting business so money was of little concern. My wife continued to work until July 1, 2000 when she retired and we sold our 6,000 sq foot house and moved aboard our 200 sq foot boat. We spent that fall sailing to San Diego. In October 2000 the house sale fell apart after months of delays on the part of the purchasers.

We left the boat in Chula Vista, California and moved back into our house and my wife returned to her old job. We then sold the house again in June 2001 at which time my wife again retired and we moved back onto the boat in Chula Vista.

We took our 40' sailboat to the Sea of Cortez in late 2001. We lived the comfortable and inexpensive life while staying in 85 degree sunshine and sailed 1500 miles north and south in the Sea of Cortez and the Mexican Gold Coast. That life centered on:

- fishing (sport and sustenance - the only meat we ate was what we caught)
- boat maintenance (at least three hours a day)
- snorkeling
- bocce ball, volleyball, and cribbage
- hiking and photography
- bicycling
- lots of dinner parties, fiestas, "poo poo raftups" (bring an appetizer and beer in your dinghy and tie them all together)

When the economy tanked in 2002 - 2003 my wife got really nervous about our deferred compensation retirement accounts which had each lost over 40%. She returned to her old job in 2003 with the idea of staying there only until our accounts rebuilt themselves.

I stayed on the boat in Mexico until late 2004 at which time I took the boat back to Puget Sound.

I then went to work as a charter bus driver for four years - just to kill time and see the world. I also worked other "odd" jobs that seem interesting and were not full time and didn't require a long term commitment.

We tried to buy several rather nice houses but each time decided the astronomically escalated prices were signs of a real estate bubble. The house we had sold in July 2001 had increased 60% in price by 2006.

Unfortunately my wife was one of those people in the '06 - '07 time frame who were convinced the economy was overheated and would crash sometime in the next couple years. She further thought that it would take a decade to recover. Therefore she said she would keep working until we understood better what was going to happen. She is 9 years younger than me (I met her when she had just turned 18 and was a junior in college - I didn't know she had skipped two grades in elementary school!) and her job provides very comprehensive medical, dental, vision insurance at little cost to us.

I was the "very experienced investor" who tried to convince her she was overly pessimistic. Here we are in 2012 and her predictions were near perfect. Consequently - she is still working, making lots of money, and providing great medical insurance. She still won't retire until she is convinced she understands where the economy and US health care system is headed.

I quit working several years ago and sailed the boat back to San Diego where we now keep it full time.

I spend most of the winter on the boat in San Diego and July - October and the winter holiday season in the Pacific NW with my wife.

In San Diego my life is:

- boat maintenance (mine and other boats)
- sailing trips
- lots of bicycle riding (mountain, road, urban)
- bicycle maintenance
- lots of cribbage and dominoes at the marina club house
- lots of socializing with the other 100 live aboard tenants in the marina (lunches, dinners, movies)
- sight seeing thru out Southern California

In Tacoma my life is:
- lots of bicycle riding (mountain, road, urban)
- bicycle maintenance
- Flight Simulator on my PC
- a lot of reading
- hiking in our enormous city and county parks and in the Cascades

My primary Tacoma activity is trying to convince my wife that it is OK to retire. Her pension and deferred comp income will replace 105% of her current income. But she is deathly afraid of the cost of medical insurance and medical problems.

Between the two of us we've had four hospital visits of over $15,000 in the last four years and over $15,000 in dental expenses. Our insurance has covered over 80% of those expenses. She just can't believe that we can buy a family policy with the same coverage. I am sure we can, particularly now that I am Medicare eligible.

So I've been retired for 9 of the last 13 years and am looking forward to more retirement. I'm not so sure about my wife and her retirement. Her mother is 87, wealthy, and continued to work as a pet store stock clerk until she was 82 years old - despite the fact that tax on her investment income exceeded her gross pay at the store.

Interesting perspective. I take it you are self employed. It's good you have the option of buying through your professional organization.

I'm sort of in the other boat. I work for a large aerospace corporation. When I retire, if the PPACA is allowed to go into full effect, my wife and I will be able to purchase heath care insurance from my former employer at the employer's cost. I'm not sure what that will save me compared to buying insurance on the open market myself, but hopefully something.

It's been great having the AVMA insurance available. Not cheap but as long as my spouse signed up within their window, they had to cover him at a maximum cost of twice the normal amount for a person his age. They covered his cancer treatments, then gave him all sorts of new parts and never batted an eye. Don's oncologist is most likely leaving practice anyway if PPACA happens, so all of a sudden it becomes less important if my health insurance that includes both of them goes away. Big fat can of worms :innocent:

I retired last Sept at 61 years, and am two months into a tour of Canada. other than riding, its meditation, hiking and camping, reading, working around the house, and to ensure the tv without cable that we already have is used very little.

That's very interesting, TacomaSailor. In Sept, 2001, my sister & hubby who were living aboard in Port Angeles, WA, decided they'd had enough cold weather & sailed down to San Diego. Too bad for them that 9/11 happened enroute and the experienced crew they'd hired to help them was called away to duty. The tale of the rest of their trip is akin to The Perfect Storm. They weren't sailors, just a couple not keeping up in the ratrace who sold their house in Portland & bought a boat to live simpler & cheaper. Once in San Diego, Mark joined the Coast Guard Auxillary & earned his Coxswain. They lived "on the ball" right next to Humphreys (could hear the concerts for free) with a million dollar view for only $80 a month.
I could never do it, I get seasick on a raft, but I sure love visiting them there!

The plan is to pull the trigger in 2 years.
My military retirement, 401, and SS should keep the dogs at bay, if not, just cut back somewhere.

Only thing I have planned is a long walk on the Appalachian Trail starting in Maine and heading to Georgia.
I have been thinking about this since I was in my 20's, but life has a way of changing your priorities.
The wife has been a big help encouraging me and letting me spend the money to gear up to give it a go.

As long as I can drag my tools around and groups like Habitat for Humanity need some help, I plan to stay busy.

You know, that's the reverse route that most people take.

I staggered into retirement unintentionally at the age of 66. My company simply announced one day that my position had been eleminated.

















I love it.

Remember all those things you wanted to do when you were working but were squeezed for time on?............................ :)

Remember thinking how nice it would be to go riding anytime you felt like it? You were right.

You know, that's the reverse route that most people take.

You are right, most people go south to north.
The thinking is that if your enjoy solo hiking, and less crowds to start, go MEGA.
Doing the '100 mile wilderness' right out of the gate, also appeals to me.

I am almost 69 and still working oil & gas projects here in south Texas. Good Lord, has this place gone job crazy! I think I will roll out to the every weekday morning meeting of my ROMEO buddies at Burger King starting this new year. ROMEO = Retired Old Men Eating Out. They have been taunting me....So this year may be it for full time work. Plus, the traveling is getting to me.

Wife is retired now for 4 years and has COPD so medical issues have been a problem for her. Good thing Medicare and a Plan F supplemental policy is in place. I am pretty healthy (one hip implant @ 66 years old). I am the Newbie on the Giant Escape I bought off Craigslist.

If I pull the plug 1/1/2013, I am not sure what is in store for me (us), but we are financially OK having no big bills (loans, CCs), two paid for houses (daughter lives in one), SS and a good IRA. We are kind of Bogleheads and try to live below our means. I would guess we will lay low the first few months next year and take a long car trip to sponge off kids and relatives scattered in CT, NC, WI, CA, TX, & IL before coming back to Texas to figure out the future during retirement. My wife can't physically do much outdoors here due to her lung condition, so the biking, golf, etc will have to be up to me (tough job!).

We may consider moving to a climate more suited for her ability to breathe better as Houston area has not been great for it. We used to live in California, but not sure if we care to go back due to the economics of that state.

I turned 66 this past April, and have been semi-retired since 1/1/06. Since then I have worked 3 days per week, Tuesday-Thursday, so that I have a 4 day week-end every week. Until a few months agao I was terrified of total retirement in terms of losing my mental acuity and not being able to keep what call "fulfillingly busy."
This past February, however, I realized that I am indeed ready. Our town library always has interesting things going on, the town senior center even more so, and I'd love to audit some college courses outside the science arena (I'm a degreed chemist, and the technical director for a small chemical company now). Rutgers University is only 10 or 12 miles from my home, and Middlesex County College around the same. I'd like to audit courses in philosophy, comparative religion, etc.
Of course having an extra 3 days per week would also allow for more morning exercise (I walk and work out with weights, fairly light these days since my spine surgery 2+ years ago, besides my rediscovered bike riding).
Finally, my wife and I are also fortunate to have pensions, hers small, and mine very decent, plus retiree medical through the aforementioned company from which I retired 6 1/2 years ago. I am on Medicare, but I obtain a prescription plan through this company and my wife gets all coverage, until she's 65, through them. Our total cost for the company sponsored plan is ~$150, plus my Medicare cost of course.

The trick now is to stay healthy, both mind and body.
Best regards