Reader Michelle sent me this question asking for your help:
My idea/request for a post is your readers’ ideas for starting retirement. Hint/tips/discussions.. do this but don’t do that… etc. Our financial advisor has indicated we will be absolutely fine to retire at 62, but I can’t wrap my brain around not working and receiving a full paycheck every 2 weeks.
I am (ugh) 60 (although I don’t feel like I look it, act it, etc.). but facts are facts, lol. I have been at my current job for 42 years and was thinking about retiring at 62.. but what does one do all day/every day when not “working.”? And what about possible health care coverage ideas since I’m not 65? We don’t have grandchildren (yet).. but thought I would get a part-time job close to home then, instead of my 30-minute commute every day. I’m beginning to despise driving the commute every day.
I am about 13 years behind Michelle in age (I’ll be 47 in April), but also probably way behind her financially. I will be very surprised if a financial planner tells me I’ll be more than 0k to retire at 62 (no matter how you slice it, divorce is a financial setback!)
So, I have zero actual retirement experience, but I’ll tell you what my plans are (and then those of you that are actually retired can chuckle at my naivete.)
My work plans
I will probably work bedside nursing for a good while, and then when I tire of that, I have considered getting my master’s and doing some kind of nursing education. So, I plan to be in the workforce for many years to come.
And even if I do get remarried to someone with plenty of money on hand, I think I still would want to use my education and healthy body to contribute to society in the healthcare-related workforce.
What would I do in retirement?
If I were in a place of retiring at 62 with lots of time on my hands, I don’t think I would be bored!
I have lots of hobbies and interests that I could pursue with that much free time (what are all the things you say you wish you could do if you weren’t at work all the time? You’d have time for those!)
I also would want to devote time to things that would help to prolong my healthspan (mobility training, exercise, good eating, proper sleep) because having lots of retirement years is more fun if your body is working to the best of its capabilities.
(And here I acknowledge that many health things are entirely out of our control. I’m just saying I’d want to do my best to maximize my chances of maintaining good health.)
Purpose and Connection
Human beings tend to feel better when they have connections with other humans. And since you lose some of that built-in interaction when you retire, I would imagine it is important to come up with other ways to see people in retirement.
Also, I know I have heard multiple experts say that humans feel better when they have a purpose or are involved in something bigger than themselves.
In that vein, since my niche is being a helper, that’s probably what I would do with at least some of my free time. There are always people who need help, whether it’s in an official volunteer role or a more casual help-your-neighbor type of role. I would love to use my nursing education to do some kind of volunteer work in the future.
from when we used to volunteer at the cat shelter 🙂
Also, as Michelle said, there’s the option of a part-time job that you do just for the love of it, or because it aligns with a purpose you care about.
Both the volunteering and the part-time job would offer a purpose and human connection, so that seems like a win-win!
And healthcare…
For healthcare coverage to get you through until Medicaid, my first thought is that I would buy a plan through the public marketplace, just like I’m doing right now. But I am for sure not an expert on this!
Alright, readers! Help Michelle out by sharing your experiences/plans with retirement.
P.S. Michelle, though you are not a part of the FIRE movement (Financial Independence, Retire Early), I wonder if some of their resources might be helpful to you. People in that movement are navigating the challenges of health insurance and also the experience of suddenly having a lot of free time on their hands, so their experiences could be educational to read about!
WilliamB
Monday 13th of January 2025
For this question, I will come out of the dark a bit.
I had all sort of plans for retirement. I was going to put my feet up and do nothing in particular for a year or till I got bored, then 1, help poor people learn to cook nutritious food cheaply, which can be done if you know what you’re doing, but if you’re poor you probably don’t have the latitude for mistakes; 2, help people transitioning to the business world by helping them describe their experiences and skills in terms that businesspeople understand; and/or 3, work in politics or as election worker. And travel of course, picking up old hobbies, learning new things, trying new athletic endeavors
These are still my plans but they sure ain’t happening now. The timing of my retirement was driven by the need to support my nearest and dearest, some of whom need caregiving. The move/unpacking/arranging and a family member’s illness pretty much consumed the first year, although I did some traveling as well. Now I’m still working on home-and-home-related items such as organizing the old house paper for my buyers and my new house papers for myself, and the caregiving requirements are increasing faster than expected.
As a result I spend about half my time “working” and half my time “retiring”. I also find that my mental exhaustion is more pervasive than I realized, something with which I’m still trying to come to terms. I’m not used to sitting on the couch without the mental energy to pick up my knitting, or being indecisive about what athletic classes to take. I don’t mind giving myself the mental space but I am worried that this becomes ingrained habit.
Lori
Monday 13th of January 2025
I like to read, but my doctor wants at least 30mins of good movement. I joined the Y for free with my insurance, and I found I love it! I take two aerobic water classes, a seated class with weights, and a balance class. I've enjoyed the interaction with other ladies! I also got a 3 wheeled bike and ride when I'm able. I started a trivia group, and we meet once a week for dinner and a lot of fun! My daughter, her husband and 2 kids live right down the street, and we all meet up every night to watch the wheel and play Jeopardy. We're still planning trips once in a while. Trying to get healthy and cut some doctor visits, as we both have issues. I think trying to stay busy is the key. And I have the bestest neighbor , we help each other as we can. Actually, our whole neighborhood is awesome! Anybody needs help knows to reach out to my husband. He loves to fix things!
Ruth
Monday 13th of January 2025
People asked me what I was going to do with "all that spare time" when I retired. The answer - "Everything I had to give up or put off for forty years!" I had LISTS. I had LISTS of lists. I didn't know how I ever had time to work full time!
I have lunch with friends. I've taken up painting watercolors. I travel - nothing terribly exciting or exotic, but I can go when I want (don't have to worry about days off). I ride my bicycle. I joined a yarn crafters group. I go to the gym. I try new recipes. I took a welding class. I've restarted my vegetable garden. I learned to snowshoe. I joined a couple of MeetUp groups. I go boating. I visit state and national parks. I take hikes. I read. I watch old movies. I do crossword puzzles. I do jigsaw puzzles. I call my sister.
You have to let your imagination run free a bit. I'd actually FORGOTTEN some of the things I used to do but had to give up while I was working full time and raising children. Those things that were set aside "temporarily" for so long finally fell completely off the radar. You have to think back and try to recall the things you enjoyed when you were 10, 15, 20, or 30, and figure out how to do this things again, or find similar activities.
Pam Meyer
Monday 13th of January 2025
You'll be surprised at how busy you can get, and wonder when you had time for a job. One piece of advice I heard that seemed quite good was "don't retire from something, retire to something". Explore hobbies that you would like to spend more time with. Myself, I was a stay-at-home mom, so my experience is a little different as the household tasks haven't gone away. I have been able to become much more involved in my church, daytime exercise classes are great for health and community. Retire when it makes sense financially and physically, while you are still able to do the things you want to do.
Elly
Monday 13th of January 2025
I will be 65 in May. I used to be a middle school math teacher and 'retired' from that at age 49 when our youngest daughter was born. I spent every minute I could with her, knowing that she really was the last baby! For the past 6 years I have worked part-time as our church's administrator and will be fully retiring when I turn 65. I had always planned to work until I was 70, but my chronic health issues are prompting me to retire now and spend my ~4 'good' hours each day doing things I love instead of working (which I just enjoy but don't love.) I am looking forward to reading and toting our daughter around! I'm on the Board for a local non-profit theater company and our local no-kill animal shelter. I will have more time to devote to those organizations--which fall into the I love doing this category. I will draw SS early and I have a moderate pension from my teaching days. My husband is just 51 and has great insurance through his work, so I will continue on that, as well as signing up for Medicare as required later this year. I, too, have a housekeeper that comes in (mine comes once a month) and am sure that what she and her husband can do in less than 2 hours would take me more than a week to do. We work on maintaining between her visits. We have a dog and 5(!) indoor cats and an outdoor shed kitty. I love being with my pets and look forward to more energy and time for dog walks and playing with my cats. I can't imagine that there will be a boring day ahead. I look forward to reading others' plans!