Practicing Retirement Before Retirement.

[arakboss]

Round 3 of PR is in the books. I ended up spending $7.50 of my $30 budget. My goal was zero but I broke down and bought some instant coffee and a giant container of tic tacs.

For projects I removed front entry door locks and attempted to orient keyways to match. That was a fail. Currently the deadbolt has pins on top and knob lock has pins on bottom. Funny thing is we bought the locks as a set.

I added an additional security feature to my safe space. I did a little reloading while I was in there. I also broke loose the scope base screw plugs on my 10/22 in preparation for adding a pic rail. I have had these threaded plugs cause grief in the past but they broke loose pretty easily on the 10/22. My pic rail arrived yesterday. This will be another scope alignment project, so I will likely begin tackling that next weekend.

I made two gym trips and got in a total of 180mins of exercise for both days. My legs are very sore.

I put together a rough draft plan to retire at 62 and ran it by the wife. Basically I need to max out my Roth between now and my 62nd birthday. I also need to live on $1800, all in, between now and then. That includes everything except Roth contributions.

It's doable but I won't be able to spend $500 a month on gun stuff, like I had wanted. I'll still be able to pick up deals here and there but will have to be a more selective. My big hope is that my 4473 fast, ends up being a final cure for my gun buying addiction. I have so many that are unused, unfinished, not even started, etc that I shouldn't ever buy another. That's a big ask for me but I am going to give it a big effort.

As for making time seem like it's going slower, I will rely on paper calendars. I am going to start tracking my Roth contributions, in a countdown fashion. I'll be counting down from $64,000. Assuming I am 62, once I get to zero that will mean it's time to retire. I will continue to work and delay collecting SS, until the calendar is at zero (even if that means working past 62). That should make time really grind, kind of like watching your mortgage balance go down from the beginning balance.

I am killing it in week one of my elimination diet. I will be posting results on that tonight, in recomp thread. Energy level is in the toilet but I am dropping some serious LBs. Still three more weeks to go before reintroduction of junk foods.

Retirement progress will be slow but moving forward without slipping backwards (taking on debt, developing serious health problems, etc) will make it happen, eventually.

Edit: Approximately 2800 days to retirement.

 

[VinnieBoomBah]

I just skimmed the thread so you may have covered this, but are you doing anything to mentally practice or prepare for the finality of retirement? I've known a couple folks that could not wait to retire and after a short while the unendingness of 'everyday will be just like today and tomorrow it will be the same' got to them to the point a few of them went back to work and at least one of them started drinking too much. Not saying that everyone that retires gets hit with it the same way, but it is a real thing.

 

[arakboss]

I just skimmed the thread so you may have covered this, but are you doing anything to mentally practice or prepare for the finality of retirement? I've known a couple folks that could not wait to retire and after a short while the unendingness of 'everyday will be just like today and tomorrow it will be the same' got to them to the point a few of them went back to work and at least one of them started drinking too much. Not saying that everyone that retires gets hit with it the same way, but it is a real thing.

That it mostly what the Practice Retirement is all about. I believe boredom could be a real problem. By practicing retirement beforehand I can be more prepared for what my days will be like. I can always work part time or volunteer for "entertainment" if I get bored. But at the rate I get things done, it seems like I will have more than enough to keep me busy.

I plan on lots of extended stays at my cabin property if wildfires don't wipe it out first.

Drinking too much could be a problem too. I don't drink much these days at home. I do love to put back lots of cheap beer when I'm at the cabin property.

 

[AshWilliams]

What's your target amount for your Roth and is your retirement income going to be strictly your Roth IRA and social security? Any other investments income?

 

[Sprintdude]

This will be an ongoing effort of mine to figure out how I might manage my time during retirement. It should also help me estimate how much money I will want for daily expenses during retirement. That may motivate me to start contributing more to my Roth.

Starting tomorrow I am going to follow a schedule that I might live with during weekdays in retirement. This period will continue through Monday evening.

My spending goal for daily expenses during this period will be $10 $15 a day. That money will have to cover fuel food and any other personal care items, I may need during the practice period. If that proves unmanageable I will increase it during the next practice period.

I didn't even make it through half of the first day the last time I tried this. Hoping for better success this go around.


Proposed schedule for this practice period.

Schedule for Thursday July 3rd through Monday July 7th.

5am-8:30am have coffee, breakfast, watch news and hangout on NWFA.

8:30-10am exercise

10am-12pm firearm related activities

12pm to 1pm lunch

1pm to 3pm chores, shopping

3pm to 6pm nap

6pm to 7pm dinner

7pm to 8pm relax

8pm to 5am sleep

Your time will be filled up once you get farther into shooting and then buy a motorcycle.

 

[arakboss]

Your time will be filled up once you get farther into shooting and then buy a motorcycle.

It's funny, I was talking with one of the gals from my weight loss group last week about people being bored in retirement. She is retired and said she doesn't have enough time in her days. She wonders how she ever had time to work.

 

[AshWilliams]

It's funny, I was talking with one of the gals from my weight loss group last week about people being bored in retirement. She is retired and said she doesn't have enough time in her days. She wonders how she ever had time to work.

I think that's because people slow waaaay down when they retire. My dad's all like, "I'm so busy! Where did all the time go?!" So I ask him what he did today and he'll reply with something like, "Went to the post office."

 

[albin25]

Let's see… ….
… I retired in 1997 at 43, and I'm still trying to figure it out.

I will say….
…. get yourself a watch with a calendar

 

[Bobbygun]

I think that's because people slow waaaay down when they retire. My dad's all like, "I'm so busy! Where did all the time go?!" So I ask him what he did today and he'll reply with something like, "Went to the post office."

A LOT of truth in this post. Let's face it, when I was 30 splitting 1/2 cord of wood with a maul took me maybe an hour. Now at 64, it takes well over an hour, and I feel like that's a pretty productive DAY, even if it took less than two hours. Other than hunting, there ain't much I'm willing to commit to working a full day on anymore. "All work and no play makes Jack Bobbygun a dull boy."

 

[The Heretic]

I think that's because people slow waaaay down when they retire. My dad's all like, "I'm so busy! Where did all the time go?!" So I ask him what he did today and he'll reply with something like, "Went to the post office."

Yup - I was tired out after I got back from Vancouver today. More so when I go into town for errands.

 

[doninoregon]

She wonders how she ever had time to work.

That's the first thing my older cousin said when he retired. All those things you didn't have time for when you were working, now you can do them.

 

[arakboss]

My dad worked until he died, and I swore I'd do things differently. Now, at 71, I realize it's important to stay busy.

Early in my retirement, I struggled to get things done. I learned I needed a routine to give my days structure and feel more fulfilled and productive.

www.businessinsider.com

 

[OneArgus]

If you do it right, you will retire debt free.
I didnt have all the toys, but I have security in retirement.
I own everything and owe no one.
Live modest, and live is pretty darn good. But each have their choices.
I was the ant over the grasshopper. So glad I chose that !
Oh and make sure you have 10's of thousands of pew pew food.

 

[jbett98]

 

[jbett98]

 

[echo1]

I started collecting my SSI at full term in 2018, I knew it would be my only source of income, besides a debt free rental, but continued working full time until 2019, Then I started working a seasonal ag gig 1K miles from home in southern Idaho, In March of 2022 I had a triple bypass, still went to my ag job but it has slowed me way down, to a crawl. Lasted until 2024 when I stopped ag work to spend summertime with my grands kids before they get too old for me. I'm only 10 or 12 projects behind. PAX

 

[arakboss]

Time for another couple of days of practicing retirement. Friday & Saturday will be the retirement days. My budget will be $20 for both days. Franz outlet store's dollar day will likely eat up half of that.

I plan on clearing a spot on the workbench so I can get a little reloading done.

I also want to get the dog out for some socialization.

A large part of my discretionary retirement income will come from selling off my firearm related collection, so I will dig through my stuff and find some more stuff to sell.

A nap each day will be on the menu.

Some budget meal prep will be on tap for very early Saturday morning.

The rest of the day's hours will be filled with normal chores, errands and a classified meet up or two (selling).

 

[The Heretic]

This month marks 6 years of retirement (partially involuntary)

 

[Ballardguy]

Schedules rarely work once you're truly retired; at least not for me they haven't. I have a couple things I do every week at the same time and days. Monday mornings I meet for breakfast with guys in my car club. Tuesday mornings I volunteer at the gun club, and afterwards a few of us go out to eat. The rest of my days each week I gave up on scheduling as it always seems to change..
When I retired in 2010 I never worried about whether I'd stay busy or not. I went straight to my work shop the next morning and began building my latest hotrod. I finished it, and bought another to build. Then started building cars for friends. In my spare time I restored and repaired old guns I'd bought.
That pretty much has been my routine for the first 10-11 years of my retirement, but I did stop building cars for others about 5 years ago, and only do my own since then. Still always have at least one or two gun projects I'm restoring or repairing and that keeps me from ever being bored.

 

[gmerkt]

During the day I rarely purposely take naps but I do regularly snooze off after eating a meal if I am not engaging in some kind of physical activity. That can be for a few minutes to an hour or so, more in the evening, especially if I did some strenuous (for me) work during the day.

In short, I take sleep when I can get it and since I do not have a regular schedule I don't worry about how long it lasts - just about quality.

When sleep beckons, I respond. If I close my eyes for a few seconds, I can be in REM sleep at will. It drives Mrs. Merkt nuts, because she's an insomniac. My being able to sleep anywhere also drives her nuts; in her mind, proper sleep should be done in a bed.

by the way, ones highest retirement bill will be lodging
my property is paid off, so only property tax

Very true. I am periodically reminded of this when I see articles in the newspaper about people in their 60's and 70's who live in apartments and trailers and have no money, then get rent increases. Every life is a different story but I want to pinch myself in wonder at how people get to be old and haven't found a way to own the roof over their heads. Bad decisions and bad luck, I guess and I feel their pain. But I'm glad I'm not one of them.

Once you do own your place, don't be tempted to move around without very good reason. Because that costs money is several ways, beyond the physical move. Inflation in old age can cause you to get nailed by federal capital gains tax. Which hasn't been adjusted by Congress for a long time. You can defer this (or some of it) if you buy another property, but if you move to Tennessee where homes cost less, you still may wind up owing. Let your heirs cheat the IRS out of it with a stepped-up basis value. In Wash., we have the real estate excise tax paid by the seller, around here 1.65% of the sale price. Every time you sell and move. Not to mention real estate agent commissions. All these percentages never seemed like a big deal back when houses cost $50K. But in many places on the west coast, that number has gone up by a multiple of at least ten. Yet the same percentages apply. My thinking is, there's a lot of unearned, undeserved money being paid out simply due to inflation. Meaning, for example, does a real estate agent do ten times the amount of work now as they did when homes sold for $50K? Of course the state loves this situation, they get all that extra revenue from inflation.