What Were Your Regrets after Retiring? (serious question)

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ColoradoRick
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Re: What Were Your Regrets after Retiring? (serious question)

Post by ColoradoRick »

JoeRetire wrote: Mon Apr 26, 2021 2:57 pm
Ivygirl wrote: Mon Apr 26, 2021 9:30 am
JoeRetire wrote: Thu Apr 22, 2021 8:00 am - My wife loves movies, I love my wife, so we watch some together
- My wife loves to shop, I love my wife, so I sit in the car and read while she shops
This is adorable and I am going to remember it the next time you say "You're doing it wrong" and smile instead of getting annoyed. :P
Aww, thanks.

Just remember, if you get annoyed when I write "you're doing it wrong", then you're doing it wrong. :happy
If we could query your wife on the above quote, what would she say? ( :wink: :beer
ColoradoRick
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Re: What Were Your Regrets after Retiring? (serious question)

Post by ColoradoRick »

ColoradoRick wrote: Wed Apr 28, 2021 11:20 am
JoeRetire wrote: Mon Apr 26, 2021 2:57 pm
Ivygirl wrote: Mon Apr 26, 2021 9:30 am
JoeRetire wrote: Thu Apr 22, 2021 8:00 am - My wife loves movies, I love my wife, so we watch some together
- My wife loves to shop, I love my wife, so I sit in the car and read while she shops
This is adorable and I am going to remember it the next time you say "You're doing it wrong" and smile instead of getting annoyed. :P
Aww, thanks.

Just remember, if you get annoyed when I write "you're doing it wrong", then you're doing it wrong. :happy
If we could query your wife on the above quote, what would she say? ( :wink: :beer
I read and enjoy your contributions Joe, though I do miss the George Can'tStandYa photo.
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JoeRetire
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Re: What Were Your Regrets after Retiring? (serious question)

Post by JoeRetire »

ColoradoRick wrote: Wed Apr 28, 2021 11:20 am
JoeRetire wrote: Mon Apr 26, 2021 2:57 pm
Ivygirl wrote: Mon Apr 26, 2021 9:30 am
JoeRetire wrote: Thu Apr 22, 2021 8:00 am - My wife loves movies, I love my wife, so we watch some together
- My wife loves to shop, I love my wife, so I sit in the car and read while she shops
This is adorable and I am going to remember it the next time you say "You're doing it wrong" and smile instead of getting annoyed. :P
Aww, thanks.

Just remember, if you get annoyed when I write "you're doing it wrong", then you're doing it wrong. :happy
If we could query your wife on the above quote, what would she say? ( :wink: :beer
She would say "What kind of stupid question is that?" :shock:
This isn't just my wallet. It's an organizer, a memory and an old friend.
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JoeRetire
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Re: What Were Your Regrets after Retiring? (serious question)

Post by JoeRetire »

ColoradoRick wrote: Wed Apr 28, 2021 11:24 am
ColoradoRick wrote: Wed Apr 28, 2021 11:20 am
JoeRetire wrote: Mon Apr 26, 2021 2:57 pm
Ivygirl wrote: Mon Apr 26, 2021 9:30 am
JoeRetire wrote: Thu Apr 22, 2021 8:00 am - My wife loves movies, I love my wife, so we watch some together
- My wife loves to shop, I love my wife, so I sit in the car and read while she shops
This is adorable and I am going to remember it the next time you say "You're doing it wrong" and smile instead of getting annoyed. :P
Aww, thanks.

Just remember, if you get annoyed when I write "you're doing it wrong", then you're doing it wrong. :happy
If we could query your wife on the above quote, what would she say? ( :wink: :beer
I read and enjoy your contributions Joe, though I do miss the George Can'tStandYa photo.
Hmm. It may be time for a new photo...
This isn't just my wallet. It's an organizer, a memory and an old friend.
namajones
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Re: What Were Your Regrets after Retiring? (serious question)

Post by namajones »

EnjoyIt wrote: Mon Apr 26, 2021 4:15 pm As an example, a family has $2.5 million looking to retire with $100k/yr spending. 1 extra year will provide an extra $8k per year spending and enough to upgrade to business class for 2 internationally every year plus some first class flights in the US. Is a year of your life worth it to have business class overseas once a year for the rest of your life?
No.
namajones
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Re: What Were Your Regrets after Retiring? (serious question)

Post by namajones »

RickBoglehead wrote: Thu Apr 22, 2021 3:12 pm Anyone who says they have no regrets in life is being dishonest, especially to themselves.
I tend to agree, though I try not to presume so much about others. Who knows? Maybe most people just never make mistakes or do things they'd do differently if given another chance.

That said, humans are quite good at denial. It's probably an ego-preserving trait.
RickBoglehead wrote: Thu Apr 22, 2021 3:12 pm
I regret not retiring sooner (early 60s now). Life is too short. People die too young.

I regret ever buying single stocks. Had I gone the mutual fund route from day one, I'd be better off.

I regret playing the dot.com boom. Lost money, never to be recovered.

See, we all have them.
I have these, too. The price of education is steep. Ultimately, none of it matters, though. We'll all be dust in decades.
MathWizard
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Re: What Were Your Regrets after Retiring? (serious question)

Post by MathWizard »

EnjoyIt wrote: Mon Apr 26, 2021 7:43 pm
HomerJ wrote: Mon Apr 26, 2021 5:20 pm
EnjoyIt wrote: Mon Apr 26, 2021 4:15 pm
HomerJ wrote: Mon Apr 26, 2021 2:46 pm
EnjoyIt wrote: Mon Apr 26, 2021 12:33 pm If working one extra year meant one fancy luxury would you do it? How many extras would you work for?

Examples are:
Flying first class everywhere
Fancy sports car
Boat
Upgraded backyard entertaining and BBQ area.
Personal chef x days a week
Maid to do your laundry and cleaning house
I’m sure you all can think of something.

How many extra years would you or have you done for your luxuries?
I plan on working an extra month or two in order to pay for business class/first class for when we someday do our bucket list Australia or New Zealand trip.

I'm not going to work a couple extra years so I can fly first class EVERYWHERE... I think I can handle 2-4 hours in the back for most trips.
Does it even have to be extra few years?
As an example, a family has $2.5 million looking to retire with $100k/yr spending. 1 extra year will provide an extra $8k per year spending and enough to upgrade to business class for 2 internationally every year plus some first class flights in the US. Is a year of your life worth it to have business class overseas once a year for the rest of your life?
$2.5 million will turn into $2.7 million? 8% gain? (or maybe 7% with another year of contributions). How much of that $2.5 million is in stocks, one year before retirement?
Here is my post above explaining the math and where it came from.
viewtopic.php?p=5969931#p5969931
Not all of it has to come from stock gains.
By retiring one year later,
you will make contributions or save some money
that year's income will replace a year of income in your early career in SS benefit calculation, so SS benefits go up a bit
you have one less year of expenses to cover.
your will get another year of employee benefits (health ins, flex benefits, ability to contribute to tax advantaged accounts)
if the year is before you claim SS (70 for me) you will be pulling more from retirement accounts
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billthecat
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Re: What Were Your Regrets after Retiring? (serious question)

Post by billthecat »

Rob54keep wrote: Tue Apr 27, 2021 9:39 pm The only regret that I can think of is that I wished I would have had a larger brokerage (after-tax) account going into retirement. The main reason is to be more aggressive with Roth conversions.
Is that because you would have had more money available to pay the taxes?

84% of my NM is in taxable, so I’m wondering.
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flyingaway
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Re: What Were Your Regrets after Retiring? (serious question)

Post by flyingaway »

I think that readers are not sure about the question asked?

Are you talking about the regrets about retiring per se? or any regrets in life that you figured out after retiring (because you have time in retirement to do those thinkings)?
B. Wellington
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Re: What Were Your Regrets after Retiring? (serious question)

Post by B. Wellington »

chuckb84 wrote: Wed Apr 21, 2021 6:48 pm I retired at 60.5 and I have no regrets. One thing that I "knew" in the abstract, but not in terms of hard, cold reality, is that my excellent health was a thing that wouldn't last forever. In fact, I'm going through some very serious health issues at age 66, so I am very, very thankful that I had over 5 years of health almost indistinguishable from how I felt in my 40's. I was able to be very active: hiking, cycling, camping, learned to ride a motorcycle, etc.

I may be able to work through some/most of my health issues, but it is uncertain. We discuss risk in so many ways on this forum, but the risk of being able to continue to enjoy life as you always have may be the biggest risk of all. I've also learned that I can adapt, and change the things I enjoy doing and find happiness that way. Some of this has been imposed on me, but it has also made me reexamine how I find satisfaction in life.

So, it isn't just time in retirement, it's how well you are able to take advantage of the time.

Sometimes I mildly regret that I don't have the ability to influence things in my field, but I am largely content to look back at what I did in my career with satisfaction. It's a new phase of life, and I do some volunteer work, contribute to charities and fundraisers, and that is most of how I participate in society outside my own life and circle of friends.
This really hit home for me, thank you.

OP, amazing how your post relates to my situation and probably many others as well. Thanks for posting.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by sailaway »

I regret overcommitting to middle class nonprofits during my first few years, but that mostly has to do with how incompetent the rest of the board was in one case in particular.
nguy44
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Re: What Were Your Regrets after Retiring? (serious question)

Post by nguy44 »

Zero regrets. My job was good to me and I could have kept working and made more money. But I cannot make more time, and at my age time is now more important than money. Choosing how I want to spend that time is my priority.

It also helps that, after less than 3 years of retirement and spending how we desire, we still have over 20% more than when I retired. Making money while doing "nothing" is a great feeling.
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HomerJ
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Re: What Were Your Regrets after Retiring? (serious question)

Post by HomerJ »

nguy44 wrote: Thu Apr 29, 2021 10:35 am It also helps that, after less than 3 years of retirement and spending how we desire, we still have over 20% more than when I retired. Making money while doing "nothing" is a great feeling.
That's the biggest problem with asking this question today.

We might get a different answer from retirees 5 years from now if we have a big crash in 2022 that still hasn't recovered..
"The best tools available to us are shovels, not scalpels. Don't get carried away." - vanBogle59
NeedToRetire
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Re: What Were Your Regrets after Retiring? (serious question)

Post by NeedToRetire »

Biggest regrets:
1 - I delayed it to 63 when I should have retired a few years earlier
2 - I retired into a pandemic, should have retired a few years earlier
3 - An eye condition continued to deteriorate; I should have retired a few years earlier
retiringwhen
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Re: What Were Your Regrets after Retiring? (serious question)

Post by retiringwhen »

namajones wrote: Wed Apr 28, 2021 1:32 pm
EnjoyIt wrote: Mon Apr 26, 2021 4:15 pm As an example, a family has $2.5 million looking to retire with $100k/yr spending. 1 extra year will provide an extra $8k per year spending and enough to upgrade to business class for 2 internationally every year plus some first class flights in the US. Is a year of your life worth it to have business class overseas once a year for the rest of your life?
No.
My wife and I have an ongoing joke that the only reason I am still working is to ensure I can buy her Butler level at Sandals at least once a year. :sharebeer
RM820119
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Re: What Were Your Regrets after Retiring? (serious question)

Post by RM820119 »

I retired almost 5 years ago at age 57. At first I just wanted a variety of different things to do, but eventually started a small business, which didn’t last long after realizing how much I enjoy my free time and having little or no schedule. But everyone is different. My dad retired at 50 but never really adjusted as his “work” life defined entirely who he was. Everyone must find their own niche. Look at retirement as a brand new chapter, not the continuation of anything else. Rediscover old hobbies, find new ones, spend more time with family and friends. Learn the rewards of helping others. Let a stranger who is in a hurry go ahead of you, it’s a great feeling to say “I’m retired and I’m in no rush”.

If you love what you currently do in your “work” life then stay with it as long as you’re able. Maybe take a few more trips while you still have your health. Most people put such things off until retirement, some people never get there OR their health will no longer support those activities.

Financially, I only wish I had been more knowledgeable about taxes, RMDs, Medicare, etc. But I’m adjusting now, more time just would’ve been nice. Other than that, it’s all good.
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tooluser
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Re: What Were Your Regrets after Retiring? (serious question)

Post by tooluser »

retiringwhen wrote: Thu Apr 29, 2021 3:21 pm
namajones wrote: Wed Apr 28, 2021 1:32 pm
EnjoyIt wrote: Mon Apr 26, 2021 4:15 pm As an example, a family has $2.5 million looking to retire with $100k/yr spending. 1 extra year will provide an extra $8k per year spending and enough to upgrade to business class for 2 internationally every year plus some first class flights in the US. Is a year of your life worth it to have business class overseas once a year for the rest of your life?
No.
My wife and I have an ongoing joke that the only reason I am still working is to ensure I can buy her Butler level at Sandals at least once a year. :sharebeer
After the first time, every time you go will be a rebutle.
bltn
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Re: What Were Your Regrets after Retiring? (serious question)

Post by bltn »

HomerJ wrote: Thu Apr 29, 2021 1:26 pm
nguy44 wrote: Thu Apr 29, 2021 10:35 am It also helps that, after less than 3 years of retirement and spending how we desire, we still have over 20% more than when I retired. Making money while doing "nothing" is a great feeling.
That's the biggest problem with asking this question today.

We might get a different answer from retirees 5 years from now if we have a big crash in 2022 that still hasn't recovered..
This is what I was thinking.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by retiringwhen »

tooluser wrote: Thu Apr 29, 2021 7:47 pm
retiringwhen wrote: Thu Apr 29, 2021 3:21 pm
namajones wrote: Wed Apr 28, 2021 1:32 pm
EnjoyIt wrote: Mon Apr 26, 2021 4:15 pm As an example, a family has $2.5 million looking to retire with $100k/yr spending. 1 extra year will provide an extra $8k per year spending and enough to upgrade to business class for 2 internationally every year plus some first class flights in the US. Is a year of your life worth it to have business class overseas once a year for the rest of your life?
No.
My wife and I have an ongoing joke that the only reason I am still working is to ensure I can buy her Butler level at Sandals at least once a year. :sharebeer
After the first time, every time you go will be a butler.
That already happened :-)
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tooluser
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Re: What Were Your Regrets after Retiring? (serious question)

Post by tooluser »

retiringwhen wrote: Thu Apr 29, 2021 8:03 pm
tooluser wrote: Thu Apr 29, 2021 7:47 pm
retiringwhen wrote: Thu Apr 29, 2021 3:21 pm
namajones wrote: Wed Apr 28, 2021 1:32 pm
EnjoyIt wrote: Mon Apr 26, 2021 4:15 pm As an example, a family has $2.5 million looking to retire with $100k/yr spending. 1 extra year will provide an extra $8k per year spending and enough to upgrade to business class for 2 internationally every year plus some first class flights in the US. Is a year of your life worth it to have business class overseas once a year for the rest of your life?
No.
My wife and I have an ongoing joke that the only reason I am still working is to ensure I can buy her Butler level at Sandals at least once a year. :sharebeer
After the first time, every time you go will be a butler.
That already happened :-)
I see what you did there. Have many great vacations!!!
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HomerJ
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Re: What Were Your Regrets after Retiring? (serious question)

Post by HomerJ »

tooluser wrote: Thu Apr 29, 2021 7:47 pm
retiringwhen wrote: Thu Apr 29, 2021 3:21 pm
namajones wrote: Wed Apr 28, 2021 1:32 pm
EnjoyIt wrote: Mon Apr 26, 2021 4:15 pm As an example, a family has $2.5 million looking to retire with $100k/yr spending. 1 extra year will provide an extra $8k per year spending and enough to upgrade to business class for 2 internationally every year plus some first class flights in the US. Is a year of your life worth it to have business class overseas once a year for the rest of your life?
No.
My wife and I have an ongoing joke that the only reason I am still working is to ensure I can buy her Butler level at Sandals at least once a year. :sharebeer
After the first time, every time you go will be a rebutle.
Yep, you can never go back.

I did a cruise once with my wife when we were young with an interior room...

Then the next one, we got a balcony. I never went back.

I flew to Europe twice in coach. Then we got Economy Plus on the third trip. I'll never go back to coach on long oversea trips.

She won't let me fly business class, because she knows I'll never go back.
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SSM1
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Re: What Were Your Regrets after Retiring? (serious question)

Post by SSM1 »

It's not that smooth for me yet! And I'm not sure I if want to work a bit, at something enjoyable...
The pandemic has been a big challenge for me...loss of many enjoyable activities like group Meetups, dancing, fitness center, travel, possible dating, in-person classes, get-togethers with friends, group hiking, visits to Assisted Living, etc. Look forward to better times.
Morning exercise helps a lot -- found some very good free options on Amazon Prime (DanceFit w/ Monica, Zumba, workouts with light hand-weights, yoga) -- and walks in new neighborhoods.
Took some short classes online via Zoom, related to my former career/s.
Trying new recipes, but would prefer to share with others. Volunteered to help plant tree seedlings on Earth Day and hope to find other regular volunteer options. :-)
radiowave
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Re: What Were Your Regrets after Retiring? (serious question)

Post by radiowave »

MathWizard wrote: Wed Apr 28, 2021 1:56 pm
EnjoyIt wrote: Mon Apr 26, 2021 7:43 pm
HomerJ wrote: Mon Apr 26, 2021 5:20 pm
EnjoyIt wrote: Mon Apr 26, 2021 4:15 pm
HomerJ wrote: Mon Apr 26, 2021 2:46 pm

I plan on working an extra month or two in order to pay for business class/first class for when we someday do our bucket list Australia or New Zealand trip.

I'm not going to work a couple extra years so I can fly first class EVERYWHERE... I think I can handle 2-4 hours in the back for most trips.
Does it even have to be extra few years?
As an example, a family has $2.5 million looking to retire with $100k/yr spending. 1 extra year will provide an extra $8k per year spending and enough to upgrade to business class for 2 internationally every year plus some first class flights in the US. Is a year of your life worth it to have business class overseas once a year for the rest of your life?
$2.5 million will turn into $2.7 million? 8% gain? (or maybe 7% with another year of contributions). How much of that $2.5 million is in stocks, one year before retirement?
Here is my post above explaining the math and where it came from.
viewtopic.php?p=5969931#p5969931
Not all of it has to come from stock gains.
By retiring one year later,
you will make contributions or save some money
that year's income will replace a year of income in your early career in SS benefit calculation, so SS benefits go up a bit
you have one less year of expenses to cover.
your will get another year of employee benefits (health ins, flex benefits, ability to contribute to tax advantaged accounts)
if the year is before you claim SS (70 for me) you will be pulling more from retirement accounts
I haven't seen this mentioned but paying off mortgage was a big box we got to check late last year as part of our final retirement checklist, not a regret per se, but if I had retired a year or two earlier, that would have been difficult to do.
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f35phixer
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Re: What Were Your Regrets after Retiring? (serious question)

Post by f35phixer »

None for DW, she retired in Jan 2020, Snow birded with my Dad in FLA. LOVED It, no more stress from her HR Director job.

I retired Nov 2020, Snow birded with DW down to see Dad for the winter.... We relaxed, worked some projects for Dad.
Got a call from my EX-BOSS ~ 2 months after retiring, hi So and So, what would it take for you to come back? HUUMMMMMM, thought a second, Ok, how about 500K/week? No really, Ok 250K/week??????? Well when you come back from your VACATION, give me a call..... Look Miss So and So, i am not on vacation, I'm retired!

We actually bring home LOTS more $$$$ each month with our Government pensions and my SS i started at 62. She'll start hers at FRA probably.

If you can swing it, Go for it, enjoy life. We should be able to travel and socialize much more by end of year, looking forward to that !!
Bungo
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Re: What Were Your Regrets after Retiring? (serious question)

Post by Bungo »

Just retired an hour ago, age 52. No regrets so far! :D :sharebeer
protagonist
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Re: What Were Your Regrets after Retiring? (serious question)

Post by protagonist »

I retired in 2008, age 55. Right before a divorce that cost me 50%+ of my life savings, and then the crash that cost me nearly 50% of what was left over.

I have no regrets. I would feel that way even if the market never bounced back.

And with each day that passes I feel more and more confident of my decision, despite the fact that I had a great job.

Check the stats. They are not dissimilar to what one sees in Boglehead posts. One survey I recall reading concluded that , if my memory serves me well, around 90% of retirees are happy with their decision. And really, I would guess that 10% of people are never happy no matter what.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by protagonist »

Bungo wrote: Fri Apr 30, 2021 6:17 pm Just retired an hour ago, age 52. No regrets so far! :D :sharebeer
The second hour is even better!
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Shackleton
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Re: What Were Your Regrets after Retiring? (serious question)

Post by Shackleton »

protagonist wrote: Fri Apr 30, 2021 7:01 pm
Bungo wrote: Fri Apr 30, 2021 6:17 pm Just retired an hour ago, age 52. No regrets so far! :D :sharebeer
The second hour is even better!
Monday morning will be AWESOME! Congrats! I retired the first week of Jan and haven’t set an alarm clock except for some volunteering I do in the winter. It’s unbelievably wonderful.
“Superhuman effort isn't worth a damn unless it achieves results.” ~Ernest Shackleton
protagonist
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Re: What Were Your Regrets after Retiring? (serious question)

Post by protagonist »

Shackleton wrote: Fri Apr 30, 2021 7:42 pm
protagonist wrote: Fri Apr 30, 2021 7:01 pm
Bungo wrote: Fri Apr 30, 2021 6:17 pm Just retired an hour ago, age 52. No regrets so far! :D :sharebeer
The second hour is even better!
Monday morning will be AWESOME! Congrats! I retired the first week of Jan and haven’t set an alarm clock except for some volunteering I do in the winter. It’s unbelievably wonderful.
The last time I set my alarm, sometime in March, was for a kitesurfing lesson. Once in awhile I need to set it to catch a plane or meet a friend for brunch or some such thing.

And I am supposed to regret waking up in the dark to scrape the ice off my windshield? Really?
carminered2019
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Re: What Were Your Regrets after Retiring? (serious question)

Post by carminered2019 »

I threw out my old faithful alarm clock the 2nd day after retirement and felt bad about it.
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dogagility
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Re: What Were Your Regrets after Retiring? (serious question)

Post by dogagility »

Bungo wrote: Fri Apr 30, 2021 6:17 pm Just retired an hour ago, age 52. No regrets so far! :D :sharebeer
Now that's a Happy Hour! :sharebeer
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basspond
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Re: What Were Your Regrets after Retiring? (serious question)

Post by basspond »

That I didn't retire earlier. My dad died about a month after I retired and at least I was able to help my mom.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by mrspock »

Based on this thread it sounds like Bogleheads grossly over rotate on sequence of return risk. I think I counted just 1 or 2 “I wished I worked longer” and even then, in those cases they seem to be doing ok.

Secondly, doesn’t seem to be that many folks who “couldn’t find meaning” in the life after retirement.

Liking my plan to retire at 45 right now. I’ll probably go sooner if the numbers line up.
heyyou
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Re: What Were Your Regrets after Retiring? (serious question)

Post by heyyou »

Retired at age 55.5 into the best years of my life.

The initial elation was just not having to go to that job, the one I had kept for the income and pension credits, for the previous thirty years. Then I found volunteer work that suited me well, it was solo backpacking into a nearby mountainous wilderness area, using a crosscut saw on dead trees that had fallen onto the trans-state hiking trail.

I hope that others find what suits them in their retirements.
Glasgow
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Re: What Were Your Regrets after Retiring? (serious question)

Post by Glasgow »

Bungo wrote: Fri Apr 30, 2021 6:17 pm Just retired an hour ago, age 52. No regrets so far! :D :sharebeer
Congratulations Bungo!
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JoeRetire
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Re: What Were Your Regrets after Retiring? (serious question)

Post by JoeRetire »

mrspock wrote: Fri Apr 30, 2021 8:47 pm Based on this thread it sounds like Bogleheads grossly over rotate on sequence of return risk. I think I counted just 1 or 2 “I wished I worked longer” and even then, in those cases they seem to be doing ok.

Secondly, doesn’t seem to be that many folks who “couldn’t find meaning” in the life after retirement.
Think there might be just a wee bit of selection bias in the responses you read here?
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1moreyr
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Re: What Were Your Regrets after Retiring? (serious question)

Post by 1moreyr »

The only regret I have is after I retired 6 months ago I took another job for 1 more year ! :oops:
retiringwhen
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Re: What Were Your Regrets after Retiring? (serious question)

Post by retiringwhen »

1moreyr wrote: Sat May 01, 2021 5:39 am The only regret I have is after I retired 6 months ago I took another job for 1 more year ! :oops:
Stop doing that! :wink:
AnEngineer
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Re: What Were Your Regrets after Retiring? (serious question)

Post by AnEngineer »

Starfish wrote: Mon Apr 26, 2021 9:31 pm
EnjoyIt wrote: Mon Apr 26, 2021 7:51 pm
ScoobyDoo wrote: Mon Apr 26, 2021 5:33 pm
Dottie57 wrote: Mon Apr 26, 2021 2:00 pm
sherwink wrote: Mon Apr 26, 2021 1:53 pm My only regret is not retiring sooner. Now I have the means, I don't have the energy to really do and enjoy what I'd like.
+1.

Also, health issues for members of my family ( including me) have taken up most of the first three years of retirement.

Another also, I should have made plans for activities in. Retirement.

Is this a valid reason to rethink saving like $$ going out of style while young and supple and instead save some but also spend while young when you are able to do a lot????
On the other side of it, money saved early on is worth sooooo much more later allowing one financial independence sooner and free from work.
That is the wrong kind of math, because:
1. Money in decent quantities are not available early, because the income is small at the beginning.
2. Money have a lot more value early (backpacking and hitch hiking vs 5 star resorst and fisrt class flights).
3. Time has a lot more value early.

Let's not forget that the purpose is not retiring as early as possible but maximizing happiness over the entire life (this is why I believe that the MMM and ERE people are very misguided, or it works only on specific type of personalities).

Spending one year at 25 to gain one year at 50 it's a big loss, not a gain. Speeding 1 year at 25 to gain 3 years at 45 might be a decent deal, but it's rarely the case.
When I finished my graduate studies I had 7000$ saved from an internship + a year of day trading. At that age I could have traveled the word for half an year with that amount of money. But I did not, I got a job and I invested the money.
20 years later the initial 7k will become maybe 3-40k? An amount of money which is completely irrelevant to me. But 6 months of travelling the world at that age would have been so important to my life and memories.
My opinion on his subject is that is not worth saving money (beyond emergency fund etc) when young because the amount of money is not worth the quality and quantity of time spent.
I find this post interesting, as using a little money at a young age to travel the world sounds very in line with the ERE ethos.

Also, I'd adjust your statement to be that it's not worth saving the money when young if spent on getting more time. If you're just buying overpriced stuff, you're better off having the financial cushion.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by mrspock »

JoeRetire wrote: Sat May 01, 2021 5:15 am
mrspock wrote: Fri Apr 30, 2021 8:47 pm Based on this thread it sounds like Bogleheads grossly over rotate on sequence of return risk. I think I counted just 1 or 2 “I wished I worked longer” and even then, in those cases they seem to be doing ok.

Secondly, doesn’t seem to be that many folks who “couldn’t find meaning” in the life after retirement.
Think there might be just a wee bit of selection bias in the responses you read here?
For sure, but pretty sure the 100:1 or so ratio of responses is statistically significant. I get one chance at this life, I’ll happily take my chances.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by JoeRetire »

mrspock wrote: Sat May 01, 2021 11:56 am
JoeRetire wrote: Sat May 01, 2021 5:15 am
mrspock wrote: Fri Apr 30, 2021 8:47 pm Based on this thread it sounds like Bogleheads grossly over rotate on sequence of return risk. I think I counted just 1 or 2 “I wished I worked longer” and even then, in those cases they seem to be doing ok.

Secondly, doesn’t seem to be that many folks who “couldn’t find meaning” in the life after retirement.
Think there might be just a wee bit of selection bias in the responses you read here?
For sure, but pretty sure the 100:1 or so ratio of responses is statistically significant. I get one chance at this life, I’ll happily take my chances.
Statistically significant in what way?

The vast majority of people aren't part of Bogleheads.
The vast majority of Bogleheads haven't participated in this thread.
I also suspect the vast majority of Bogleheads who have regrets, wished they worked longer, or struggled to find meaning after retirement, would choose not to express their regrets here.

It's reasonable to enjoy reading posts that reflect your viewpoint. It's a mistake to think there is some statistical significance to them.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by SrGrumpy »

JoeRetire wrote: Sat May 01, 2021 12:34 pm The vast majority of people aren't part of Bogleheads.
The vast majority of Bogleheads haven't participated in this thread.
I also suspect the vast majority of Bogleheads who have regrets, wished they worked longer, or struggled to find meaning after retirement, would choose not to express their regrets here.
Maybe we should extend the terms: Do you know people who have regrets about retiring?
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Re: What Were Your Regrets after Retiring? (serious question)

Post by MJS »

AnEngineer wrote: Sat May 01, 2021 7:49 am
I find this post interesting, as using a little money at a young age to travel the world sounds very in line with the ERE ethos.
I'm not familiar with engineering terms, and this one really confused me! What is the Etheric Rain Engineering ethos? How does Etheric Rain effect travel and retirement decisions? Thanks!
Last edited by MJS on Sat May 01, 2021 12:43 pm, edited 1 time in total.
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JoeRetire
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Re: What Were Your Regrets after Retiring? (serious question)

Post by JoeRetire »

SrGrumpy wrote: Sat May 01, 2021 12:38 pm
JoeRetire wrote: Sat May 01, 2021 12:34 pm The vast majority of people aren't part of Bogleheads.
The vast majority of Bogleheads haven't participated in this thread.
I also suspect the vast majority of Bogleheads who have regrets, wished they worked longer, or struggled to find meaning after retirement, would choose not to express their regrets here.
Maybe we should extend the terms: Do you know people who have regrets about retiring?
Yes.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by scwed »

JoeRetire wrote: Thu Apr 22, 2021 8:26 am
KlangFool wrote: Thu Apr 22, 2021 8:16 amIt is just a job. You are paid to do it. There is nothing more or less to it.
For most people, there is more to work than just getting paid.
JoeRetire - I wholeheartedly agree.

Work was like a game/puzzle that challenged me so it was not really "work". I retired shortly after that was no longer the case (when I was 47) and have not regretted a moment since then.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by Starfish »

AnEngineer wrote: Sat May 01, 2021 7:49 am
I find this post interesting, as using a little money at a young age to travel the world sounds very in line with the ERE ethos.
Not really, because by young they mean 35-40y old, which is not at all young (like other people call early retired at 55, which to me its pretty standard age).
It's not really possible to save no money to 30 and retire at 40, unless you get very very lucky.
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JoeRetire
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Re: What Were Your Regrets after Retiring? (serious question)

Post by JoeRetire »

Starfish wrote: Sat May 01, 2021 4:12 pm
AnEngineer wrote: Sat May 01, 2021 7:49 am
I find this post interesting, as using a little money at a young age to travel the world sounds very in line with the ERE ethos.
Not really, because by young they mean 35-40y old, which is not at all young (like other people call early retired at 55, which to me its pretty standard age).
It's not really possible to save no money to 30 and retire at 40, unless you get very very lucky.
61 is the most popular retirement age in the US.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by JoeRetire »

swedek wrote: Sat May 01, 2021 12:48 pm Work was like a game/puzzle that challenged me so it was not really "work".
That's terrific!

I feel bad for people who have experienced a job that was so enjoyable.
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Re: What Were Your Regrets after Retiring? (serious question)

Post by EnjoyIt »

Starfish wrote: Sat May 01, 2021 4:12 pm
AnEngineer wrote: Sat May 01, 2021 7:49 am
I find this post interesting, as using a little money at a young age to travel the world sounds very in line with the ERE ethos.
Not really, because by young they mean 35-40y old, which is not at all young (like other people call early retired at 55, which to me its pretty standard age).
It's not really possible to save no money to 30 and retire at 40, unless you get very very lucky.
Physicians.
Physicians come out of residency late 20s early 30s and usually with a negative net worth. They can then amass enough money in 10 years to retire early.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
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Re: What Were Your Regrets after Retiring? (serious question)

Post by AnEngineer »

MJS wrote: Sat May 01, 2021 12:43 pm
AnEngineer wrote: Sat May 01, 2021 7:49 am
I find this post interesting, as using a little money at a young age to travel the world sounds very in line with the ERE ethos.
I'm not familiar with engineering terms, and this one really confused me! What is the Etheric Rain Engineering ethos? How does Etheric Rain effect travel and retirement decisions? Thanks!
ERE = early retirement extreme, a blog and book.
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