Newly retired @60 ... Did I make a mistake?

Back in august met with my finical planner and discussed early retirement at 60 hrs. I was told I could if I wanted to.

A few days later I resigned from my six figure position as a sales manager.

I now agonize over if I made a mistake.

I find myself baking bread two times a week, just to kill time.

Now I watch every penny we spend (something I never had to do) and driving my wife crazy. Mostly depressed about all the money I left on the table.

Any advice would help.

Wendy: Typical regrets for a new retiree... give yourself time to transition and you'll be just fine.

Many CAN retire, financially, but what they choose to do afterwards, day after day, makes a huge difference. You really can't bake 2 loafs of bread a day to feel satisfied. Who do you choose to be in retirement?

Everyone worries about pre-retirement savings... few consider the endless hours awaiting them with little to do.

Give yourself time to grieve the loss of you job - even voluntary retirements like you feel the loss of identity and job status.

If you REALLY believe you need to be active, go back to work. Work full-time, part-time, contractually, open your own small biz - whatever feels right to you. Volunteer if the income is really not necessary.

Either way, BE someone again -- lose the stress of your former position (face reality, the grass wasn't really greener there, was it?)... and decide where you want to go from here. IT really can be a huge opportunity with the right mindset!!

The world is open to you - but you now have to deal with your retirement transition, choose your next adventure in life, and GO FOR IT!!

Best Wishes!!

Comments for Newly retired @60 ... Did I make a mistake?

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Did I make A mistake
by: Anonymous

NO, you did not make a mistake. Sooner or later we all have to retire. It is how we take it.

We miss the busy life, a feeling of being needed, The so called friendship, which was nothing else, but work place association. Once one is out,the co workers are busy with their life.

SO do not regret. Try to find some thing else
It is a challenge. But that is life.

Best Wishes
Retirement Plan
by: Joe W.

Maybe you retired too early. Do you have any small business skills. I see that you make bread at least twice a week. The food industry is a good place to start a self-discovery exercise. See if there is anything in this area that could lead to a startup small business.

If you were getting paid a 6-figure salary/commissions in your corporate job then you might try your own business consulting firm by taking advantage of your technical & sales skills.

Thanks.

Joe W.
Mistake? No.
by: Del

It would appear that you may be fearing something, like maybe your money will run out? Go back to your financial planner and have a chat about your money situation, and you may get some reassurance that you have planned well for this time in your life.

I've heard it said, mostly in movies really, that men equate money with death, meaning they fear their money will run out and then they will die.

I don't mean to sound dramatic, but did you ever watch every penny years ago, when you weren't making a six-figure salary?

I'm with you on doubting if you made the right decision, but you must have had retirement on your mind when you went to your financial planner, right?

I haven't retired yet, but this year leading up to it has had me on an emotional roller coaster about finances after retirement also.

So, I'm hoping you decide to:

a. go back to work at another position/company

b. find out that you have plenty to last you for years and relax

and/or

c. get a new group of friends to hang out with who have already made the big jump and found out the water is fine.

I wish you the very best, and I know you'll stop baking bread soon when your mind is at peace with your decision.
Newly Retired at 60 - Did I make a mistake?
by: Anonymous

I retired in 2012 after 50 years of working for the same company. After many years of stress and being burned out, I was ready and have not looked back.

I didn't have a detailed plan for my retirement days, but so far I have kept very busy and am enjoying ever moment.

Between lunches and dinners with my work friends,
two of whom retired after me, appointments, errands, seminars, the local senior center and spending time with family, life is good.

Retirement is a life transition, but try taking one baby step at a time. I'm sure you will come to enjoy your freedom from work responsibilities, but if not, Wendy's comments about starting a business, part-time work, etc are right on target.
There is something for all of us retirees out there.

If you can delay collecting Social Security until your full retirement age, this is best.

For each year SS is delayed beyond age 62, the recipient gains 8% more.

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