Retired - Now What?

[Scott CWO]

@NIGHTHAWK thanks for the great thread topic. Seems like you have some good plans and lots of feedback here that is helpful.

I have been thinking about this topic quite a bit lately. I have been working since I was 13 years old. In 2020, I sold my business and the new owner wanted me to run it for ten years. Instead, I agreed to a five-year contract and to go year to year after that. I invested the sale proceeds in the stock market at a good time when everything was low due to COVID. I have done a lot of hunting for myself on the gains and have not touched the principal and still have gains. I am thinking that this will be my last year as the Manager and then just guide and consult, starting in 2027. I have a couple great employees that are already assuming more responsibilities. Once I make the full transition to just guiding and consulting, I can keep a smaller salary and my health insurance because the new owner wants me here as long as I am willing. Insurance is important as I am only 59 and my wife is 57, otherwise I would probably fully retire and just walk away and slow down my personal hunting. The problem is that I still want to hunt and it is expensive. I could retire now but would feel uneasy spending so much on hunting. My wife is also done and wants me to completely retire. When I share this new semi-retirement plan with my friends and employees, they scoff, laugh and say they will believe it when they see it. I still enjoy the guiding but I am a perfectionist and somewhat anal, so it is hard to step away and not be in control. I think that if guiding and consulting, I could still be involved but with less of the headaches. I am curious to hear thoughts on this situation.

 

[Gemsbok45]

That’s the one issue when you have hunted as long as a lot of us have the less expensive hunts are in the past. I thought of heading to Botswana and just hunting for a big kudu and tracking Eland. Pretty cool. Then I read your report and some others on places that I always thought about. I’m not laying my head down for the last time and not thinking about what I did not do. I get it’s really expensive and in the future I will chase that big Kudu but right now I’m turning 65 this year and it’s go time.

 

[Datchew]

Congrats on retirement guys.
Big step

 

[Milo]

Well, if one is budgeting retirement one of the factors is being able to hire people to manage your property either from the onset or later on in life. Time is the most precious commodity one has, so off-loading mundane tasks to someone else allows one to truly enjoy their life.

I know it can be hard to let go. Heck, my girlfriend really did not like having my maid in the house. I used to kid that the maid was the longest relationship I ever had. She retired a year ago after working for me for 31 years. Now, I have a service that comes a few times a week. When I fully retire, I will most likely hire full-time help filling various roles depending on need.

I believe a maid is one of best purchases one can make. Drink cheaper whiskey if you have to.

 

[R eight]

I retired at 61 and a half years of age. Now 66 years young. I’ve never been so busy. I had around 35 years in law enforcement and don’t miss it at all.

I’m busy shooting at least 2 days a week and get out hunting two or three times a year, long trips to exotic places. Plenty of traveling with the wife, both domestic and international. Plenty of adventures and hunting planned. Life is good.

 

[kpoynter]

@NIGHTHAWK thanks for the great thread topic. Seems like you have some good plans and lots of feedback here that is helpful.

I have been thinking about this topic quite a bit lately. I have been working since I was 13 years old. In 2020, I sold my business and the new owner wanted me to run it for ten years. Instead, I agreed to a five-year contract and to go year to year after that. I invested the sale proceeds in the stock market at a good time when everything was low due to COVID. I have done a lot of hunting for myself on the gains and have not touched the principal and still have gains. I am thinking that this will be my last year as the Manager and then just guide and consult, starting in 2027. I have a couple great employees that are already assuming more responsibilities. Once I make the full transition to just guiding and consulting, I can keep a smaller salary and my health insurance because the new owner wants me here as long as I am willing. Insurance is important as I am only 59 and my wife is 57, otherwise I would probably fully retire and just walk away and slow down my personal hunting. The problem is that I still want to hunt and it is expensive. I could retire now but would feel uneasy spending so much on hunting. My wife is also done and wants me to completely retire. When I share this new semi-retirement plan with my friends and employees, they scoff, laugh and say they will believe it when they see it. I still enjoy the guiding but I am a perfectionist and somewhat anal, so it is hard to step away and not be in control. I think that if guiding and consulting, I could still be involved but with less of the headaches. I am curious to hear thoughts on this situation.

This is absolutely one of the hardest things to reconcile….letting go of things you have controlled and we perceive we need to.
Question though.. I know you go on say 2 week hunts…do things “blow up” when you do? I’m guessing NO…
I find that is also largely because we communicate ahead of time we will be “out of pocket”
I’m in basically the exact same boat.
I don’t think you can do that very long term because you will be too disengaged perhaps and value will be diminished
Your healthcare expenses will be some $25k-28k per year till you hit Medicare age

 

[NIGHTHAWK]

@NIGHTHAWK thanks for the great thread topic. Seems like you have some good plans and lots of feedback here that is helpful.

I have been thinking about this topic quite a bit lately. I have been working since I was 13 years old. In 2020, I sold my business and the new owner wanted me to run it for ten years. Instead, I agreed to a five-year contract and to go year to year after that. I invested the sale proceeds in the stock market at a good time when everything was low due to COVID. I have done a lot of hunting for myself on the gains and have not touched the principal and still have gains. I am thinking that this will be my last year as the Manager and then just guide and consult, starting in 2027. I have a couple great employees that are already assuming more responsibilities. Once I make the full transition to just guiding and consulting, I can keep a smaller salary and my health insurance because the new owner wants me here as long as I am willing. Insurance is important as I am only 59 and my wife is 57, otherwise I would probably fully retire and just walk away and slow down my personal hunting. The problem is that I still want to hunt and it is expensive. I could retire now but would feel uneasy spending so much on hunting. My wife is also done and wants me to completely retire. When I share this new semi-retirement plan with my friends and employees, they scoff, laugh and say they will believe it when they see it. I still enjoy the guiding but I am a perfectionist and somewhat anal, so it is hard to step away and not be in control. I think that if guiding and consulting, I could still be involved but with less of the headaches. I am curious to hear thoughts on this situation.

Scott, I can relate. I delayed gratification, invested well, lived (for the most part) below my means, deferred a good chunk of money into an HRA to cover medical co-pay post retirement, deferred into a 401 for 30 plus years, sold off a bunch equipment, gear, tools, motorcycles, boats, just did a general purge.

Divested myself of partnerships in real estate, paid off mortgages and any debt, reinvested remaining proceeds through balanced portfolios and dollar cost averaging with future set contributions, sold off any remaining personal properties that were a distraction or burden for what ever reason, improved remaining properties to provide the predictable passive income desired. Gave up my private office, studio, and shop and rented those spaces out - which was a PITA because I have to temporarily store my taxidermy in temperature controlled secured storage.

In the next 5 years I’ll be taking more hunting and fishing trips as a priority. My experience earning my money by the hour in a feast or famine construction industry for 35 plus years created my biggest fear; running out of money! It’s just there, in my head, and, at this point for no good reason. International hunting is expensive!

I understand the difference between disposable income and discretionary income. I don’t gamble (in the traditional since) don’t have any reckless habits, except some occasional day trading which I’m ahead of the curve on and basically lost interest in.

Now, I have new goals and what I feel is a next step approach to attaining them.

Earlier on I read a few books, including Stephen Pollan - Live Rich (Great for me). Also, Live Rich, Die Broke - also great. Studied investment strategies, made mistakes, but learned and not repeated. I do feel prepared.

My 5 and 7 year plans are to see where I am in 5 years of continuing to work while achieving my next set of goals. Then possibly working till 62 if I still feel it is necessary or rewarding.

It’s great to have options and exciting to plan new adventures! Especially, if an amazing cancellation hunt comes up or I want to do an extended stay and hunt in multiple countries…

 

[NIGHTHAWK]

I really appreciate all the advice. Especially everyone that shared their stories, plans, goals, and experiences. Very helpful and informative.

Thank you!

 

[NIGHTHAWK]

I also have some local charities I donate quite a bit to:

 

[fourfive8]

A lot of wisdom posted in this thread. I don’t think I was as wise as I was lucky when I retired 26 years ago. One thing I became certain of as my retirement neared was the realization that I couldn’t get time back. I’ve had my share of injuries over the years but had pure a?$ luck in the DNA draw with no major illnesses. Just broke another fibula 3 months ago I’ve always had too many hobbies. I’ve always been outdoor oriented. Continuously too busy since retiring. Constantly looking forward to new adventures. I have a scattered family with responsibility as guardian for wife and kids from 4 years old to 29 years old on three continents.

I’ve seen my share of friends who retire with few hobbies, no interests, no curiosity, no imagination, no wanderlust about different cultures, different geographies … invariably their physical health slowly declines until they become sedentary with no ability to travel out of town even if they decide to try.
Right now my highest priorities are not a new gun nor a novel hunt. My top priorities are a 22 year old jewel 75 miles away and a 4 year old 8,000 miles away.

I’ve no magic recommendation for retirement save maybe to bite off more than you can chew to stay active and busy. Dream and invent goals and adventures. Planning and looking forward is most of the fun. Pets and kids are invigorating

 

[coreydb]

The key to retirement is NOT to become idle; create a new "structure" for your day to day meanderings. I went through a period where I was lost/wandering; "what do I do with my life now?" Yeah, I enjoyed the slower pace, less stress, but being goal oriented my whole life, I couldn't get out of that frame of mind. Every day was a Sunday, gotta prepare for work tomorrow...... Get a different mindset, create new goals, don't let yourself become completely idle. I turned back to hunting and plan for at least two hunts a year. One anywhere in the world I can find a deal, and one state side. I also travel. So many Europeans wish they could come to America because geographically, we have everything contained in one country. They have to go to other countries that speak different languages to experience what we have right here. The grass is greener on THIS side of the fence. Start here. Have a blast in retirement, stay connected to this site and enjoy!

 

[3chunter]

I am 42. I hear so many people say they won’t know what they are going to do at retirement. I know exactly what I will be doing! I would love to be retired. But I will be working forever unless I win the lottery. Shall I come into money and retire, I have my plan:
Keep my little 30 acres for home base
Workout 2 hours in the gym each day
Keep my improvement projects on my land going…
Buy a truck and camper
January: duck hunting the whole month various states in central and miss flyway.
I would spend March-april-May traveling across the country turkey hunting.
Jun-august home either at the lake, beach, prepping for deer season and/or hunting Africa for a few weeks every year
September: prepping Midwest leases for deer or hunting internationally
October-November: big game hunting outwest, between leases and public and guided I can live out there for a few months
December- back to duck hunting
Then
Repeat the next year.

 

[Hogpatrol]

You need to get to a point where you ask yourself "How did I have time to work"? Once there, you're in good shape.

 

[Franco]

Forty plus years of 100+ hours a week as a surgeon then have my fourth bout of Covid leave me with a
voice that has taken more than a year to recover forced retirement at 70yo. I now have at least a functional voice. So, retirement initially sucked! The future for me is bright in a world that sometimes
isn't so bright (the political world around us). In 11 days, I leave for Uganda, one of my favorite places in the world to hunt. Hunting and fishing, shooting and completing projects that for 50 years of education and surgical practice have been on the back burner is exciting. The hardest part is establishing a new social network and life that medicine was previously the core of. It just takes work!

So sorry to hear of the forced end to your career, and compliments to your capacity to move forward.

My life followed a similar path; after 45 years of aviation, flying, fixing, building - airplanes, gliders, helicopters, balloons, and blimps, a medical issue forced an end to a passion which had defined my lifestyle.

There was no planned transition - only response. Fortunately I was at mandatory retirement age, so the only jobs which disappeared were those I had lined up for post airline.

But, as you mentioned, it is the social network which disappears. When your only hobby was coin collecting you are not left with a strong backup.

Having witnessed too many pilots retire comfortably at 60, only to die within a few years, I was convinced it was the abrupt change from their position of authority to one of, "Get off the couch and take out the trash" which contributed to their premature demise.

Holding the fate of others one day and accepting you no longer matter the next can be difficult to achieve.

Looking back, reflecting on my life, I realized there was never a time when I dreaded what awaited me the next day. Not to say there were never situations which I knew would be unpleasant, but I never saw problems - only opportunities to solve problems.

When things go awry in the air you only have so many tools at your disposal, and the most powerful one is - you.

Telling yourself you have a purpose, a reason to be alive tomorrow, is what gets you out of bed the next day.

Rebuilding your social network can have it's advantages, I try to surround myself with those who are like-minded and avoid those whose views are so strongly opposed it is impossible to communicate. A differing opinion can still be present in common interests - simply read this forum: best caliber, bolt vs double, etc.

Maintaining your independence is extremely important, and it's both mental and physical; and learn to accept your new level of achievement. I may no longer fly a 777 part way around the world, or a P-38 at an airshow - but I did build a pond on our property with my bulldozer.

For every project I complete, I have at least 2 others yet undone. My wife (much younger) asked me why I start another project before completing the current one. "Simple, so there's always something to do."

We do not get to choose which unforeseen circumstances life bestows on us - only how we handle them.

To answer the original question of, "Retired - now what?" What do you want it to be? Do you see it as a problem or an opportunity?

I can only hope you are able to accept and enjoy it as much as I have.

 

[Tanks]

My wife (much younger) asked me why I start another project before completing the current one.

I think having a partner much younger is one of the keys to staying young. I, jokingly, always add our ages and divide by two. So, I am not really 69 now, I am 58.

 

[Newboomer]

Great to see everyone with plans to stay busy. I've heard guys say that when they retire they are just going to sit in the rocking chair and let the world go by. A lot of them lasted just a few years and died from lack of doing anything.
I heard an old Web Pierce song the other day that really hit home. The title was "Before You Know It Life Has Gone And Drifted Away." So true. If you can find it give a listen and think about what he's saying. I had to really think about that. As we age life does seem to move a lot faster or we're just moving a lot slower.

Correction on the Web Pierce tune. I listened to it last night and the title should be "Life Has Gone and Slipped Away."

 

[Franco]

I think having a partner much younger is one of the keys to staying young. I, jokingly, always add our ages and divide by two. So, I am not really 69 now, I am 58.

I cannot disagree.

 

[baxterb]

I went to college as an adult (early 40s). I was the oldest person in all my classes ecxept for one - Romantic Poetry. There was an older gentleman who i became friends with. He was 78 at the time and a former Professor of Radiology/Orthopedics. I asked him why he was in class and he said that over the years, he watched former colleagues ahead of him retire, think they will just play golf or putter around the house, decline, and then die. He said seeing that too many times convinced him to do otherwise. Instead of fully retiring at 76, he just went to half time, then re-enrolled in school (University of Washington) to work on his PhD in English Literature, which was one of his passions even before medical school. So that's what he was doing - keeping on keeping on, as it were. We did many projects together and had a great time. It was a good lesson to perhaps slow down, but never stop.

Our professor was even an inspiration in this realm. She was 70 and a world expert on Coleridge. She has no intentions of slowing down.

I am no where near retirement, but don't really intend to. I am working on a side gig now that I hope to build so that it is more lucrative later. It has thus far enabled me to meet some very fine people and I think that is also a lesson - stay in human contact as much as possible.

 

[NIGHTHAWK]

So sorry to hear of the forced end to your career, and compliments to your capacity to move forward.

My life followed a similar path; after 45 years of aviation, flying, fixing, building - airplanes, gliders, helicopters, balloons, and blimps, a medical issue forced an end to a passion which had defined my lifestyle.

There was no planned transition - only response. Fortunately I was at mandatory retirement age, so the only jobs which disappeared were those I had lined up for post airline.

But, as you mentioned, it is the social network which disappears. When your only hobby was coin collecting you are not left with a strong backup.

Having witnessed too many pilots retire comfortably at 60, only to die within a few years, I was convinced it was the abrupt change from their position of authority to one of, "Get off the couch and take out the trash" which contributed to their premature demise.

Holding the fate of others one day and accepting you no longer matter the next can be difficult to achieve.

Looking back, reflecting on my life, I realized there was never a time when I dreaded what awaited me the next day. Not to say there were never situations which I knew would be unpleasant, but I never saw problems - only opportunities to solve problems.

When things go awry in the air you only have so many tools at your disposal, and the most powerful one is - you.

Telling yourself you have a purpose, a reason to be alive tomorrow, is what gets you out of bed the next day.

Rebuilding your social network can have it's advantages, I try to surround myself with those who are like-minded and avoid those whose views are so strongly opposed it is impossible to communicate. A differing opinion can still be present in common interests - simply read this forum: best caliber, bolt vs double, etc.

Maintaining your independence is extremely important, and it's both mental and physical; and learn to accept your new level of achievement. I may no longer fly a 777 part way around the world, or a P-38 at an airshow - but I did build a pond on our property with my bulldozer.

For every project I complete, I have at least 2 others yet undone. My wife (much younger) asked me why I start another project before completing the current one. "Simple, so there's always something to do."

We do not get to choose which unforeseen circumstances life bestows on us - only how we handle them.

To answer the original question of, "Retired - now what?" What do you want it to be? Do you see it as a problem or an opportunity?

I can only hope you are able to accept and enjoy it as much as I have.

Great wisdom and life experience. All things considered, life has gotten better over the years and continues to.

I work at it. But, I like to work…

I’m probably limping into retirement with the goal of balance.

 

[jpr9954]

After 35 plus years as a Union Steamfitter, I retired the day I was eligible (end of Nov 2025). Talking to my financial planner, he asked “Now what are you going to do?”. My reply was; collect my pension and stay on as a construction manager. “Why he asked?” “Because you can afford to not work”…. I didn’t have a good answer!

I’ve worked since I was 12 years old and most of that was laboring of some sort. I don’t know how not to work. I’m up everyday at 4:30am and enjoy routine. My longtime girlfriend is younger and will likely continue to work for the next 15 years.

I’ve got plenty of things I like to do and have flexibility in my work schedule to include vacations when I want to take them.

I know I want to have a small ranch type property 50 - 200 acres, where I can spend time hunting or fishing from, relaxing, working on it, and have a nice trophy room.

There are several of you on AH that I respect and admire for a lot of reasons. You appear to have nice life balance and I’m certain that is what I’ve striving for. To include: finding or building my dream property and house, traveling to hunt and fish, maintaining my health, spending quality time with friends and family, pursuing old interests and new hobbies, and having “that” balance.

What was/is your retirement experience like? What would you do differently?

I waited to retire until I was 65 in 2022 and then some. I didn't want "ObamaCare" and my former employer's pre-65 retiree health insurance was just too expensive in my frugal opinion so I waited for MediCare. We live within our means, have no debt, and are fairly frugal.

My wife and I have done some longer road trips plus a trip to Alaska last year. I have hunted Africa twice now and plan to go again this year.

We try to see the grandkids at least every 2-3 weeks (they live 150 miles away) and we help out my younger daughter when work schedules interfere with childcare. No work schedule helps. We also were able to care for my older daughter through a couple of surgeries including one major one. It helps that my wife is a retired RN.

My retired life is probably less structured but more busy than before. I helped start our DSC chapter here in NC and am a director. I had always been active in my non-NRA affiliated state gun rights group and manned their booth at the local gun show 5x a year. That has now morphed into being their Sec-Treasurer. Oh, and yes, I got elected to a 3-year term on the NRA Board of Directors. I went from being an outside critic with my blog to being a reform-minded insider with multiple committee assignments. Go figure.

If I had to do something differently, it would be to exercise more. I both want and need to be in better shape for hunting Africa. I grew too sedentary in my old job and I need to reverse that trend.

I do like your idea of having a small ranch. We had a small plot that my wife and her siblings inherited that I was converting into deer hunting property until they got an offer for it they couldn't turn down. Developing that combined with your construction skills will keep you active.

You are lucky in that you can fully retire on your own timeline. I was able to do that but my brother-in-law was forced into retirement at age 65. He was a captain with Delta and FAA regulations mandated his retirement. He would have like another year or two especially as the pandemic crimped his flying time a couple of years pre-retirement. I think he has adjusted now but it took some time.