Were you nervous when you retired?

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4nursebee
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Were you nervous when you retired?

Post by 4nursebee »

Investments are sufficient to retire, far in excess of needs, wants, desires. SO retired a year ago, I am part time. I am at a decision point to cut the cord, perhaps decide this weekend, Monday, end of month. With stretches of days off I really don't mind going in to work but when the alarm rings in the am it really gets on me. Then having to wear a mask all day bothers my ears, nose, breathing. Then working harder while other folks sit around bothers me. Missing out on exercise that day bothers me. You get the idea, having enough money increases the drag of work!

So clearly facing the decision, and being emotional about it, it seems the easiest thing to do is to quit work when it is easy, not emotional. But I could end up working forever this way. At some point one just has to cut the cord and be done with it?

I've worked since I was old enough to mow lawns, rake leaves, ring cash registers at MCDs, clean homes and offices, sell food, wait tables.

We have plenty to retire to:
Nothing if we choose.
Enjoy good health, increase it with exercise and better diet.
Farm interests, lots of work here
Real estate investments
Some travel, have a few plans
dance lessons together!
Music lessons if disciplined enough.
Using VPW, monthly amounts available should double compared to what we have been living very comfortably on.

And yet, the thought of quitting work is scary. This despite saving too much.

I picture I'll just have to make the decision, live with the anxiety for a while, see how the money comes in automatically, get used to the idea.


Is this what it was like for you? How did you deal with it? How long did it take for the nerves and anxiety to get better?
I'd really like to be on the other side of this decision.
Thanks,
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Sage16
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Re: Were you nervous when you retired?

Post by Sage16 »

I retired about 5 years ago. The first 2 weeks or so were very strange like I was cheating or something. I felt like I was supposed to be somewhere and I felt guilty being home. After 2 weeks it passed. I had a good career, no complaints but retirement is by far the best job I ever had. Stop stressing over it, just do it, you will be so glad you did.
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livesoft
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Re: Were you nervous when you retired?

Post by livesoft »

No, it wasn't like that for me. I was pretty chill about it and still am.

I realize that human beings span the spectrum on anxiety disorders, so nothing wrong with being chill and nothing wrong with being anxious.
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JediMisty
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Re: Were you nervous when you retired?

Post by JediMisty »

livesoft wrote: Sat Sep 26, 2020 11:39 am No, it wasn't like that for me. I was pretty chill about it and still am.

I realize that human beings span the spectrum on anxiety disorders, so nothing wrong with being chill and nothing wrong with being anxious.
I like that you're chill about others being anxious. Nice. :sharebeer
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Watty
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Re: Were you nervous when you retired?

Post by Watty »

After I retired when I was 58 I did have some second thoughts for about six months.

The thing that ended that was about six months after I retired I went back to have lunch with some people I used to work with. About ten minutes into the lunch I was so glad that I was not working there and having to deal with work anymore.
4nursebee wrote: Sat Sep 26, 2020 11:26 am Then having to wear a mask all day bothers my ears, nose, breathing.
If you have the option then retiring during a pandemic could be a very good choice.

It is not just the inconvenience of needing to wear a mask, you could very well get COVID and still working increases your chances of getting it.

You need to take it very seriously since there are still a lot of unknowns about the long term health impacts even if you "recover" from it. It is just anecdotal but a friend of my son who is in his 30s had it. He was never hospitalized but was pretty miserable for about two weeks but he is now testing negative for COVID-19. The problem is that he still has possibly life threatening side effects from it and he is nowhere near being back to functioning like normal. Even if he does not get worse there is a very real risk that he will be dealing with it for the rest of his life.
Normchad
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Re: Were you nervous when you retired?

Post by Normchad »

I’m following this thread, I’m in a similar place.

I’m 99% certain I have enough. I’m 52ish. I have job complaints, but really, I think it’s just me. I think I don’t want to do it anymore. When I talk to colleagues though, they look at me like I’m crazy. None of them say they’ll retire before 63.5.. so I am nervous that maybe I’m missing something obvious, and I will make an irreversibly bad decision.....
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beyou
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Re: Were you nervous when you retired?

Post by beyou »

The question here is which makes you more nervous, COVID risk or financial risk ?

COVID seems so hypothetical to most people, whereas paying bills is very real to all of us.
Still I lean towards retiring.
My employer is letting me WFH since the pandemic started, but they are thinking about bringing people back to the office early next year.
They are also planning to let me go if I don't move to a new city, which I am not.
The impact of all this :

1) I can laugh when they tell me to come to my current office...what are they going to do, fire me ?
2) Less inclined to look for new work unless it can be starting with WFH (I think as a new person that's not ideal).

I am still nervous about giving up my great healthcare and my income...but I have LBYM for a long time specifically so I can make such decisions. That may lessen the nervous feeling but does not eliminate it.
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JoeRetire
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Re: Were you nervous when you retired?

Post by JoeRetire »

4nursebee wrote: Sat Sep 26, 2020 11:26 amYou get the idea, having enough money increases the drag of work!
That's odd. It felt the opposite for me. Having enough money to leave when I chose made the days fly.
And yet, the thought of quitting work is scary. This despite saving too much.
For some, all change is scary.
Is this what it was like for you?
No.

I've always been one to make a decision, then not look back. I knew when I was ready, and had been prepared financially. It wasn't hard at all.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.
sport
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Re: Were you nervous when you retired?

Post by sport »

I wasn't nervous about it. I was looking forward to it and "counted the days" until I could turn off the alarm clock.
visualguy
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Re: Were you nervous when you retired?

Post by visualguy »

JoeRetire wrote: Sat Sep 26, 2020 12:46 pm
4nursebee wrote: Sat Sep 26, 2020 11:26 amYou get the idea, having enough money increases the drag of work!
That's odd. It felt the opposite for me. Having enough money to leave when I chose made the days fly.
It's a mixed bag in my view... You don't stress as much about work issues, which is good, but it also reduces the motivation to put up with things because the money motive is either gone or not very powerful. This means you keep getting the "what do I need this for, I could retire?" feeling.
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Sheepdog
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Re: Were you nervous when you retired?

Post by Sheepdog »

No, not nervous or worried. I can say that my wife was worried though, not about money, but.... This is what she said, really "I can't have you hanging around here all day. I won't be able to stand it!
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Beehave
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Re: Were you nervous when you retired?

Post by Beehave »

What tells me you should retire are these factors in your post:
1. Alarm clock upsets you.
2. Work interferes with exercise and nutrition.
3. Resentment of working hard when others are sitting around.

My suggestion, especially since the income is not an issue - - retire and if you miss working, then find part time work (for pay or as a volunteer) that you enjoy that has hours that allow you to exercise and eat well.
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GerryL
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Re: Were you nervous when you retired?

Post by GerryL »

I had been planning my retirement for several years but ended up retiring a year early thanks to an offer with severance that almost completely covered the last year. It was a few months before my 66th birthday. I figured that it would take me a few weeks to settle into my new life. No such thing. I don't think it took 15 minutes on that first morning when I sat at my counter eating breakfast -- and there was no laptop set up on my dining room table.

I have to admit that I am very skilled at doing nothing when that is what I want. But I had plenty of activities large and small on a list in case I got an itch to be busy.

Side note: I specifically chose to retire around late spring/early summer so that I could look forward to good out-and-about weather and would not spend my first months cooped up inside.
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celia
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Re: Were you nervous when you retired?

Post by celia »

4nursebee wrote: Sat Sep 26, 2020 11:26 am Investments are sufficient to retire, far in excess of needs, wants, desires. SO retired a year ago,...
No, you haven’t retired yet. You are sitting at the end of the diving board, afraid to jump in.

JUMP!

Sure, you will get all wet but it doesn’t take long to get used to the water. What are you waiting for?
Dandy
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Re: Were you nervous when you retired?

Post by Dandy »

Most people I know were hesitant or scared to retire, especially those who worked hard and long. What am I going to do with all that time? Some I'm sure had concerns about money - but it is a major life change that could last decades and it is often hard to reverse the decision.

Most seemed to adjust well and after a short time say they were glad they did. What I miss a bit is the challenge of running an area/problem solving but most of all I miss the interaction with fellow workers.

I don't miss getting up before 6am and shoveling the driveway and commuting 90 minutes to get to work before 8am.
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LiveSimple
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Re: Were you nervous when you retired?

Post by LiveSimple »

Same here 54 can retire have the money but still thinking 😂
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FiveK
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Re: Were you nervous when you retired?

Post by FiveK »

Because finances themselves are not an issue in your case: to the extent you think your job defines you and you like that definition, you should stay with the job. To the extent your self-image is not tied to your job, you should leave. Good luck!
sport
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Re: Were you nervous when you retired?

Post by sport »

I didn't have anything to do yesterday, but I did not get it finished. So, I am working on it today. I probably won't get it all done today either... 8-)
Conch55
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Re: Were you nervous when you retired?

Post by Conch55 »

I quit working before turning 60 with the expectation I was just taking a break. I figured I would decompress then find something else. It's been over five years of decompressing and I think it was a great decision for me. Spouse joined me two years ago and we couldn't be happier. I feel like our finances are sufficient but there's no way to know for sure. I guess replacing nervous with thinking I wasn't retiring worked for me.
MrDrinkingWater
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Re: Were you nervous when you retired?

Post by MrDrinkingWater »

Maybe reading a book will help. Some folks got value out of reading the book What Color Is My Parachute For Retirement? It is not really about the financial side of retirement, but about the emotional side of retirement. There are plenty of other books about the financial side, and I believe you very likely have the financial side entirely covered.
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Re: Were you nervous when you retired?

Post by quantAndHold »

I wasn’t nervous at all when I first retired. I was having stress related health issues and it felt like a “my money or my life” situation. Three years later, my physical and emotional health is much better, but we’ve had a couple of unexpected high expense years, along with market conditions that I’m not all that sanguine about. So NOW, I’m nervous. Go figure.
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celia
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Re: Were you nervous when you retired?

Post by celia »

I was trustee and POA for a relative who had medical issues and cognitive decline while I was working full time and still had a minor child to finish raising and launch. Looking for resources and care of the relative and his condo was a job in itself. Luckily my siblings were there to help but it still was a job/responsibility. He died and another sibling who was trustee and POA for another relative needed help so I took turns visiting and getting benefits for the needy relative. That relative is a little younger than I am so will likely be around for a while.

Then DH and I retired. We traveled and did hobbies for a few years until DH’s parents needed help. DH was in and out helping with them but after 2 years both parents died.

We resumed doing what WE wanted to do, but last year a relative died in another state, unexpectedly leaving me in charge of finding a guardian for a disabled daughter (now in her 60s), selling the parent’s condo and putting the money in a trust I had to have created in the other state (to meet that state’s Medicaid rules.) And now my parents need to be moved and the sibling in charge of that (trustee and POA) needs help.

My point is that if you have lots of relatives, your retirement may be interrupted several times by having to look out for someone else. Take advantage of retirement while YOU are healthy and don’t need to take care of anyone else. Things won’t always stay like they are now.
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LilyFleur
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Re: Were you nervous when you retired?

Post by LilyFleur »

We don't know how old you are, or what your health insurance situation is.

That's a wild card. And an expensive one.

I retired early (from a job that did not provide group health insurance), and I am spending a significant amount of money to buy insurance on the exchange. My pension barely exceeds the ceiling for ACA subsidies, so I am ending up using half my pension for healthcare costs with post-tax dollars... but at least I can get insurance, given my preexisting conditions.

We don't know the future of healthcare, but we do know its future is uncertain. What we do know is that there is an election soon, and the Supreme Court will soon be hearing a case determining the future of the ACA.

And no, I was not nervous when I retired. My condo is paid for, I have a pension, and I have savings and plan to start my SS at age 62. And I had a job that only gave me one week off a year. That was quite difficult; I spent my week off getting my son to and from college and had no time to rest. I was so underpaid that my son qualified for free tuition at a state university. I am grateful every day that I am not still in that job.
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CyclingDuo
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Re: Were you nervous when you retired?

Post by CyclingDuo »

4nursebee wrote: Sat Sep 26, 2020 11:26 amInvestments are sufficient to retire, far in excess of needs, wants, desires. SO retired a year ago, I am part time. I am at a decision point to cut the cord, perhaps decide this weekend, Monday, end of month. With stretches of days off I really don't mind going in to work but when the alarm rings in the am it really gets on me. Then having to wear a mask all day bothers my ears, nose, breathing. Then working harder while other folks sit around bothers me. Missing out on exercise that day bothers me. You get the idea, having enough money increases the drag of work!

So clearly facing the decision, and being emotional about it, it seems the easiest thing to do is to quit work when it is easy, not emotional. But I could end up working forever this way. At some point one just has to cut the cord and be done with it?
There's a great new book for you to read before you pull the plug on the part-time shifts. Lots of things to think about that have nothing to do with the money...

https://www.amazon.com/Aging-Work-Retir ... oks&sr=1-1

Beyond the money, more and more people are working into their 60's, 70's, 80's, etc...such as the level as you are currently doing with your part-time job. I found the research and data to be rather eye opening.

Point being - you raise enough things in your post that I recommend the book to you as it addresses some things that might be the real crux of the underlying reasons why you posted? :beer

CyclingDuo
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4nursebee
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Re: Were you nervous when you retired?

Post by 4nursebee »

LilyFleur wrote: Sat Sep 26, 2020 2:31 pm We don't know how old you are, or what your health insurance situation is.

That's a wild card. And an expensive one.

I retired early (from a job that did not provide group health insurance), and I am spending a significant amount of money to buy insurance on the exchange. My pension barely exceeds the ceiling for ACA subsidies, so I am ending up using half my pension for healthcare costs with post-tax dollars... but at least I can get insurance, given my preexisting conditions.

We don't know the future of healthcare, but we do know its future is uncertain. What we do know is that there is an election soon, and the Supreme Court will soon be hearing a case determining the future of the ACA.

And no, I was not nervous when I retired. My condo is paid for, I have a pension, and I have savings and plan to start my SS at age 62. And I had a job that only gave me one week off a year. That was quite difficult; I spent my week off getting my son to and from college and had no time to rest. I was so underpaid that my son qualified for free tuition at a state university. I am grateful every day that I am not still in that job.
Insurance has been a major motivator to work. We just learned costs for the COBRA, they are half what I was budgeting. After 18 months only one of us needs insurance. We have >60x
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LilyFleur
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Re: Were you nervous when you retired?

Post by LilyFleur »

4nursebee wrote: Sat Sep 26, 2020 2:56 pm
LilyFleur wrote: Sat Sep 26, 2020 2:31 pm We don't know how old you are, or what your health insurance situation is.

That's a wild card. And an expensive one.

I retired early (from a job that did not provide group health insurance), and I am spending a significant amount of money to buy insurance on the exchange. My pension barely exceeds the ceiling for ACA subsidies, so I am ending up using half my pension for healthcare costs with post-tax dollars... but at least I can get insurance, given my preexisting conditions.

We don't know the future of healthcare, but we do know its future is uncertain. What we do know is that there is an election soon, and the Supreme Court will soon be hearing a case determining the future of the ACA.

And no, I was not nervous when I retired. My condo is paid for, I have a pension, and I have savings and plan to start my SS at age 62. And I had a job that only gave me one week off a year. That was quite difficult; I spent my week off getting my son to and from college and had no time to rest. I was so underpaid that my son qualified for free tuition at a state university. I am grateful every day that I am not still in that job.
Insurance has been a major motivator to work. We just learned costs for the COBRA, they are half what I was budgeting. After 18 months only one of us needs insurance. We have >60x
Excellent. After COBRA my insurance costs doubled, and my out-of-network deductible is five figures now. I do live in a state where surprise medical billing is illegal.

It sounds like you are ready to retire!!!! :)
TheNightsToCome
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Re: Were you nervous when you retired?

Post by TheNightsToCome »

CyclingDuo wrote: Sat Sep 26, 2020 2:41 pm
4nursebee wrote: Sat Sep 26, 2020 11:26 amInvestments are sufficient to retire, far in excess of needs, wants, desires. SO retired a year ago, I am part time. I am at a decision point to cut the cord, perhaps decide this weekend, Monday, end of month. With stretches of days off I really don't mind going in to work but when the alarm rings in the am it really gets on me. Then having to wear a mask all day bothers my ears, nose, breathing. Then working harder while other folks sit around bothers me. Missing out on exercise that day bothers me. You get the idea, having enough money increases the drag of work!

So clearly facing the decision, and being emotional about it, it seems the easiest thing to do is to quit work when it is easy, not emotional. But I could end up working forever this way. At some point one just has to cut the cord and be done with it?
There's a great new book for you to read before you pull the plug on the part-time shifts. Lots of things to think about that have nothing to do with the money...

https://www.amazon.com/Aging-Work-Retir ... oks&sr=1-1

Beyond the money, more and more people are working into their 60's, 70's, 80's, etc...such as the level as you are currently doing with your part-time job. I found the research and data to be rather eye opening.

Point being - you raise enough things in your post that I recommend the book to you as it addresses some things that might be the real crux of the underlying reasons why you posted? :beer

CyclingDuo
I've begun to think I might want to work into old age as long as I can do it on a part-time basis (though 40 hrs/wk looks like part-time relative to my work history), so your post piqued my interest. However, the intro for the book looks dry and the intended audience is -- not me:

Aging, Work, and Retirement presents the reasons older men and women are staying in the workforce as long as they are able to do so—information of immediate value to undergraduate and graduate students across the fields of sociology, gerontology, industrial/organizational psychology, and business management as well as to corporate leaders, human resources managers, professional organizations and policy makers. The text reflects a growing interest in and concern regarding aspects of aging, ageism, labor market challenges, workplace issues, plus gender and racial/ethnic similarities and differences in employment history and extended worklife opportunities, as they affect older workers in this country and abroad. Each chapter has cases and profiles and other strong pedagogical features allowing students to integrate the content with real world examples.

Can you elaborate on what you found useful/interesting here?
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Re: Were you nervous when you retired?

Post by fsrph »

I dislike work, am in my early 60's, and financially easily able to retire. I volunteered for a COVID work furlough with no guarantee of being called back. I didn't expect to be called back. For the first week or so I felt like a fish out of water. Routines were all different. Time seemed to move slowly and I thought I should be productive all day. Got anxious and thought I made the wrong decision. But, into the second week, I started adapting to my new free time. Approached the days on my terms of doing what I want when I want. You don't have to be productive all day. The feeling of freedom was liberating. Stress levels are way down. Day to day it's much better and planning things with my friends make the days fly by. I hardly ever think about work and certainly don't miss it. Recently, I was called back to work on a part time basis (my choice). It's OK working part time (want to see what happens with healthcare) but if they ever demand me to work FT hours, I'm done. I've seen the other side of not working and it's pretty awesome.

Francis
Last edited by fsrph on Sat Sep 26, 2020 3:18 pm, edited 1 time in total.
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Wanderingwheelz
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Re: Were you nervous when you retired?

Post by Wanderingwheelz »

Normchad wrote: Sat Sep 26, 2020 12:25 pm I’m following this thread, I’m in a similar place.

I’m 99% certain I have enough. I’m 52ish. I have job complaints, but really, I think it’s just me. I think I don’t want to do it anymore. When I talk to colleagues though, they look at me like I’m crazy. None of them say they’ll retire before 63.5.. so I am nervous that maybe I’m missing something obvious, and I will make an irreversibly bad decision.....
I’m 49 and I’ve been dealing with the same feelings for a couple of years. I made the decision to retire last week. I just don’t have the passion for my work anymore and unless I can get creative and feel like I’m contributing my time towards something fruitful other than the pay, then I’ll just stay not working. Covid has really been the wake-up call I needed. Good luck with whatever decision you make.
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GerryL
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Re: Were you nervous when you retired?

Post by GerryL »

MrDrinkingWater wrote: Sat Sep 26, 2020 2:03 pm Maybe reading a book will help. Some folks got value out of reading the book What Color Is My Parachute For Retirement? It is not really about the financial side of retirement, but about the emotional side of retirement. There are plenty of other books about the financial side, and I believe you very likely have the financial side entirely covered.
Librarian here. After making sure my finances were in order, I focused on reading about the non-financial aspect of retirement. Checked out every title I could find at the library on the topic and bought Parachute (which I later gave to a friend who retired the year after me).

I've narrowed my focus now to solo aging. (Even people who are now coupled could end up as solo agers.) The book I chose to buy is Essential Retirement Planning for Solo Agers, by Sara Zeff Geber.

Old librarians never die, they just stop circulating.
rich126
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Re: Were you nervous when you retired?

Post by rich126 »

I'm 57 and plan to retire at 60. Am I nervous? Yes and no. You can't predict the future. Bad market returns? On the other hand it is possible you'll be gone long before you run out of money.

I think I am more concerned about health than money. I think those relying on 401K money are more likely to be nervous unless they have a ton of savings while those with a nice pension are in a good place, especially when they start collecting social security.

With one friend that retired as soon as he was eligible (w/o any penalties) but then passed away within 2 years and another friend whose brother is heading to the hospice, life can change quickly.

I think the key thing is being happy and enjoying life. It took me too long to realize that. Obviously you need some basic income but you don't need as much as many obsess over (not that I don't obsess also!).

My manager can retire now easily with his finances but he will miss the people and isn't sure he wants to do all of the activities his wife likes doing. In his case I'm guessing he would retire if it was a health thing or if the company has to downsize again in the future.
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LilyFleur
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Re: Were you nervous when you retired?

Post by LilyFleur »

GerryL wrote: Sat Sep 26, 2020 3:24 pm
MrDrinkingWater wrote: Sat Sep 26, 2020 2:03 pm Maybe reading a book will help. Some folks got value out of reading the book What Color Is My Parachute For Retirement? It is not really about the financial side of retirement, but about the emotional side of retirement. There are plenty of other books about the financial side, and I believe you very likely have the financial side entirely covered.
Librarian here. After making sure my finances were in order, I focused on reading about the non-financial aspect of retirement. Checked out every title I could find at the library on the topic and bought Parachute (which I later gave to a friend who retired the year after me).

I've narrowed my focus now to solo aging. (Even people who are now coupled could end up as solo agers.) The book I chose to buy is Essential Retirement Planning for Solo Agers, by Sara Zeff Geber.

Old librarians never die, they just stop circulating.
Thank you for the recommendation for the Solo Agers book. I am single with two young adult children, but I want to live independently as long as possible. I am not worried about money; it's the other aspects of aging solo that are of concern to me.

Half of me is very relieved to have freedom as a single in retirement, and the other half of me is a bit terrified to spend the rest of my life alone. (And, I know, I am not truly alone as I have my children and my friends, but living alone and somewhat isolated during COVID has been a challenge.) But I can read books about this, and figure it out! You've helped me feel more hopeful.
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Re: Were you nervous when you retired?

Post by tibbitts »

rich126 wrote: Sat Sep 26, 2020 3:25 pm My manager can retire now easily with his finances but he will miss the people and isn't sure he wants to do all of the activities his wife likes doing. In his case I'm guessing he would retire if it was a health thing or if the company has to downsize again in the future.
I do wonder how having no work-related exposure to others for the rest of a career, other than staring at little images in Zoom meetings and reading emails, is affecting how people feel about retirement. On the one hand, there are fewer activities to retire to; on the other hand, ninety percent of the social aspect of work has gone away for many people.
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Re: Were you nervous when you retired?

Post by CyclingDuo »

TheNightsToCome wrote: Sat Sep 26, 2020 3:09 pm
CyclingDuo wrote: Sat Sep 26, 2020 2:41 pm
4nursebee wrote: Sat Sep 26, 2020 11:26 amInvestments are sufficient to retire, far in excess of needs, wants, desires. SO retired a year ago, I am part time. I am at a decision point to cut the cord, perhaps decide this weekend, Monday, end of month. With stretches of days off I really don't mind going in to work but when the alarm rings in the am it really gets on me. Then having to wear a mask all day bothers my ears, nose, breathing. Then working harder while other folks sit around bothers me. Missing out on exercise that day bothers me. You get the idea, having enough money increases the drag of work!

So clearly facing the decision, and being emotional about it, it seems the easiest thing to do is to quit work when it is easy, not emotional. But I could end up working forever this way. At some point one just has to cut the cord and be done with it?
There's a great new book for you to read before you pull the plug on the part-time shifts. Lots of things to think about that have nothing to do with the money...

https://www.amazon.com/Aging-Work-Retir ... oks&sr=1-1

Beyond the money, more and more people are working into their 60's, 70's, 80's, etc...such as the level as you are currently doing with your part-time job. I found the research and data to be rather eye opening.

Point being - you raise enough things in your post that I recommend the book to you as it addresses some things that might be the real crux of the underlying reasons why you posted? :beer

CyclingDuo
I've begun to think I might want to work into old age as long as I can do it on a part-time basis (though 40 hrs/wk looks like part-time relative to my work history), so your post piqued my interest. However, the intro for the book looks dry and the intended audience is -- not me:

Aging, Work, and Retirement presents the reasons older men and women are staying in the workforce as long as they are able to do so—information of immediate value to undergraduate and graduate students across the fields of sociology, gerontology, industrial/organizational psychology, and business management as well as to corporate leaders, human resources managers, professional organizations and policy makers. The text reflects a growing interest in and concern regarding aspects of aging, ageism, labor market challenges, workplace issues, plus gender and racial/ethnic similarities and differences in employment history and extended worklife opportunities, as they affect older workers in this country and abroad. Each chapter has cases and profiles and other strong pedagogical features allowing students to integrate the content with real world examples.

Can you elaborate on what you found useful/interesting here?
Yes, that is a rather dry academic intro in and of itself. Nap time type of stuff for sure if you were to base it on that alone. However, the book also targets and speaks to the individual who is interested in working longer. I have a year to go before I hit 60, but my DW is already there and loves her work. She claims at 65 she will either go part-time or find something else to do - even if it is getting heavily involved in some organizations.

I've been fascinated by the subject for at least a few decades watching my parents and my DW's parents work beyond retirement age - none of them for the money, but for all the other things the book highlights. Truth be told, my grandfather more or less continued to do work into his 80's (tax accounting, farming and fruit groves, raised cattle, Sunday School Teacher, city council, etc... up until his late 80's). Likewise, being a professor I have had a couple of decades being able to watch colleagues work well beyond the years of what one would call standard retirement age here in the US - again, money not being the main reason. Or others in business, news/broadcasting/journalism, finance, authors, acting, politics, etc...that have been working well beyond the typical retirement age have always fascinated me as to the why. We would all recognize their names and faces.

You can get an idea of some of that material in an interview with the book's author here when speaking about EWL (extended work life):

https://www.marketwatch.com/story/why-a ... yptr=yahoo

Although the popular press and financial advisory firms would have us believe that fiscal insecurity is driving the trend, for those fortunate enough to have a choice and to be in good health it’s job satisfaction, having a sense of purpose, finding meaning in the work; using knowledge, skills, abilities and experience acquired over many years; helping others, making a difference; mentoring younger workers; enjoying their colleagues, clients, patients, or students. In short, they tell me that they love what they do. And, it’s older women even more than older men who are powering the extended work life, or EWL, phenomenon.

That being said, I didn't find the book to be dry at all - such as the intro makes it sound. I bought the book and dove in when it first came out. I'll thank the Covid-19 for giving me time to do a lot more reading beyond my usual subjects over the past 7 months than I normally would.

CyclingDuo
"Save like a pessimist, invest like an optimist." - Morgan Housel
Dave55
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Re: Were you nervous when you retired?

Post by Dave55 »

I was formally introduced to retirement in my early 50's because the business niche we serviced came to an abrupt end. I thought I was too young to retire although I had enough funds to do so. I never had a hobby other than working out. So I got into a 2nd career that took me until late 50's and then I called it quits. I got used to the idea and reality of being retired almost immediately. I adapted an unstructured improvisational approach (going with the flow) for my daily activities (with the exception of my workout routine), and I discovered things that I enjoy doing that I never would have imagined.

Dave
Normchad
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Re: Were you nervous when you retired?

Post by Normchad »

tibbitts wrote: Sat Sep 26, 2020 4:02 pm
rich126 wrote: Sat Sep 26, 2020 3:25 pm My manager can retire now easily with his finances but he will miss the people and isn't sure he wants to do all of the activities his wife likes doing. In his case I'm guessing he would retire if it was a health thing or if the company has to downsize again in the future.
I do wonder how having no work-related exposure to others for the rest of a career, other than staring at little images in Zoom meetings and reading emails, is affecting how people feel about retirement. On the one hand, there are fewer activities to retire to; on the other hand, ninety percent of the social aspect of work has gone away for many people.
For me, it is definitely affecting my perspective. It’s kind of like everybody has one foot out the door now. The “team spirit” is slowly eroding, or maybe just receding in peoples minds. The “connectedness” between people is receding.

In some ways, it almost feels like a step into retirement, now that there are less demands on being in specific places at specific times to see specific people.

It’s nice in a lot of ways, but a bummer in others. But the nice parts, makes me think, I should just retire and then it’s all nice parts.....
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4nursebee
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Re: Were you nervous when you retired?

Post by 4nursebee »

[q

I've been fascinated by the subject for at least a few decades watching my parents and my DW's parents work beyond retirement age - none of them for the money, but for all the other things the book highlights. Truth be told, my grandfather more or less continued to do work into his 80's (tax accounting, farming and fruit groves, raised cattle, Sunday School Teacher, city council, etc... up until his late 80's).

Oh yeah, that is me. I'd just be retiring from working for others, retiring from working for "the man". 15 acres here, lots growing, dreaming of an idea rototiller, new kind of fruit trees, raising our own food for a year. In addition to growing and selling what we grow, we also do some processing work for those that bring crops here. Might even have a nursery in the future. Maybe even become a CFI and teach.
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kramer
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Re: Were you nervous when you retired?

Post by kramer »

I retired quite early (age 41) and had a good job. So I was very nervous about giving my notice, even though I had done a lot of planning and was ready. Once I got that event over with, everything else was downhill. But getting up the nerve to actually pull the trigger was one of the hardest things for me in my life.
TheNightsToCome
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Re: Were you nervous when you retired?

Post by TheNightsToCome »

CyclingDuo wrote: Sat Sep 26, 2020 4:15 pm
TheNightsToCome wrote: Sat Sep 26, 2020 3:09 pm
CyclingDuo wrote: Sat Sep 26, 2020 2:41 pm
4nursebee wrote: Sat Sep 26, 2020 11:26 amInvestments are sufficient to retire, far in excess of needs, wants, desires. SO retired a year ago, I am part time. I am at a decision point to cut the cord, perhaps decide this weekend, Monday, end of month. With stretches of days off I really don't mind going in to work but when the alarm rings in the am it really gets on me. Then having to wear a mask all day bothers my ears, nose, breathing. Then working harder while other folks sit around bothers me. Missing out on exercise that day bothers me. You get the idea, having enough money increases the drag of work!

So clearly facing the decision, and being emotional about it, it seems the easiest thing to do is to quit work when it is easy, not emotional. But I could end up working forever this way. At some point one just has to cut the cord and be done with it?
There's a great new book for you to read before you pull the plug on the part-time shifts. Lots of things to think about that have nothing to do with the money...

https://www.amazon.com/Aging-Work-Retir ... oks&sr=1-1

Beyond the money, more and more people are working into their 60's, 70's, 80's, etc...such as the level as you are currently doing with your part-time job. I found the research and data to be rather eye opening.

Point being - you raise enough things in your post that I recommend the book to you as it addresses some things that might be the real crux of the underlying reasons why you posted? :beer

CyclingDuo
I've begun to think I might want to work into old age as long as I can do it on a part-time basis (though 40 hrs/wk looks like part-time relative to my work history), so your post piqued my interest. However, the intro for the book looks dry and the intended audience is -- not me:

Aging, Work, and Retirement presents the reasons older men and women are staying in the workforce as long as they are able to do so—information of immediate value to undergraduate and graduate students across the fields of sociology, gerontology, industrial/organizational psychology, and business management as well as to corporate leaders, human resources managers, professional organizations and policy makers. The text reflects a growing interest in and concern regarding aspects of aging, ageism, labor market challenges, workplace issues, plus gender and racial/ethnic similarities and differences in employment history and extended worklife opportunities, as they affect older workers in this country and abroad. Each chapter has cases and profiles and other strong pedagogical features allowing students to integrate the content with real world examples.

Can you elaborate on what you found useful/interesting here?
Yes, that is a rather dry academic intro in and of itself. Nap time type of stuff for sure if you were to base it on that alone. However, the book also targets and speaks to the individual who is interested in working longer. I have a year to go before I hit 60, but my DW is already there and loves her work. She claims at 65 she will either go part-time or find something else to do - even if it is getting heavily involved in some organizations.

I've been fascinated by the subject for at least a few decades watching my parents and my DW's parents work beyond retirement age - none of them for the money, but for all the other things the book highlights. Truth be told, my grandfather more or less continued to do work into his 80's (tax accounting, farming and fruit groves, raised cattle, Sunday School Teacher, city council, etc... up until his late 80's). Likewise, being a professor I have had a couple of decades being able to watch colleagues work well beyond the years of what one would call standard retirement age here in the US - again, money not being the main reason. Or others in business, news/broadcasting/journalism, finance, authors, acting, politics, etc...that have been working well beyond the typical retirement age have always fascinated me as to the why. We would all recognize their names and faces.

You can get an idea of some of that material in an interview with the book's author here when speaking about EWL (extended work life):

https://www.marketwatch.com/story/why-a ... yptr=yahoo

Although the popular press and financial advisory firms would have us believe that fiscal insecurity is driving the trend, for those fortunate enough to have a choice and to be in good health it’s job satisfaction, having a sense of purpose, finding meaning in the work; using knowledge, skills, abilities and experience acquired over many years; helping others, making a difference; mentoring younger workers; enjoying their colleagues, clients, patients, or students. In short, they tell me that they love what they do. And, it’s older women even more than older men who are powering the extended work life, or EWL, phenomenon.

That being said, I didn't find the book to be dry at all - such as the intro makes it sound. I bought the book and dove in when it first came out. I'll thank the Covid-19 for giving me time to do a lot more reading beyond my usual subjects over the past 7 months than I normally would.

CyclingDuo
Looks like a collection of interviews and anecdotes, which would probably be interesting.

I'm at > 60 times trailing 5-yr annual expenses, or 30 times a generous estimate of retirement expenses, so I ponder this after every trying day at work. However, we saw very few pts in the office during much of March-May due to COVID, and I found that I enjoyed my work when I wasn't buried under it; I wanted more to do during that period.

Also, I FIRE'd almost 20 years ago (albeit due to burnout), but ultimately wandered into a new career, earned a rigorous professional designation, then another degree, and then started a small business before returning to my original career -- something I thought I would never consider. To my surprise, I'm less interested in lounging about now than when I was younger.

My 81 yo parents have had great lives and a comfortable retirement, but they admit to a fair amount of boredom despite having a large loving family and plenty of options available to them.

When I see 79 yo Anthony Fauci in a TV interview I wonder if he doesn't have a better plan.

Not long ago I returned to the university where I did my cardiology fellowship and I ran into several of my mentors. They are now in their 70s and 80s and still there!

One in particular discussed his retirement plans with me when I was a fellow in the 1990s. He was 63 with $3 million dollars at that time. He lamented that it "wasn't enough to retire on." He is still working now well into his 80s, and it can't be b/o financial insecurity.
Wannaretireearly
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Re: Were you nervous when you retired?

Post by Wannaretireearly »

Great thread.
1. We don't take enough breaks in the US. Period.
- other places have mandated time off and generally more of it.
- the concept of a sabbatical is dying. Don't know why.
- too many workaholics. My frame of reference is Europe where I lived until 22.

2. I like to remember there is an opportunity cost with everything, including working. Time is our scarce resource, quality/healthy time is a very scarce resource.
- My dad died at 59.5. Ironically the age one can access retirement $.
- been said before here, the combo of your healthy years plus not having to look after someone else, is fewer years than most expect.

3. As I'm beginning to realize, retiring from your main income/job, being FI, doesn't mean you'll not have other part time/fun job opportunities.
- i can imagine my health improving in retirement, as others have described. I honestly cannot wait. I'm even contemplating moving back to the UK once the kids have flown the nest, and take advantage of free healthcare. (and perhaps meeting more like minded early retirees)
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minesweep
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Re: Were you nervous when you retired?

Post by minesweep »

Not nervous, just elated.
We have plenty to retire to:
Nothing if we choose.
Enjoy good health, increase it with exercise and better diet.
Farm interests, lots of work here
Real estate investments
Some travel, have a few plans
dance lessons together!
Music lessons if disciplined enough.
Using VPW, monthly amounts available should double compared to what we have been living very comfortably on.
“Often when you think you're at the end of something, you're at the beginning of something else.” – Fred Rogers
Time is your friend; impulse is your enemy - John Bogle | Learn every day, but especially from the experiences of others, it's cheaper! - John Bogle
1TheGame
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Re: Were you nervous when you retired?

Post by 1TheGame »

Nervous? Heck no! But I had a plan to transition from "FT work" to "PT work" to "almost no work" to "no work". I'm at the "almost no work" stage (now average about 8 hours a month), and am close to the "no work" stage. I had a very good/interesting engineering job that was well paid (but not by FAANG standards) and the job had a great work/life balance. But I had/have numerous outdoor activities that I enjoyed more than working. I worked for a generally benevolent employer that offered an easy path to working PT.

At 50 I realized that the number of "good health" days going forward was less than those in the past. At 55 I was at ~25x and went PT. I slowly ramped down from working 4 days a week to working half time and retired about 4 years later (was >30X by then). During this time as I ramped down work hours I ramped up the time spent on "fun" activities. After retiring I continued working in a sort of consulting/hourly basis for my employer; this work started at about 1/3 time and now (age 61) is down to a trickle.

As I approached my retirement date I was rather ecstatic; not nervous at all. Thanks to reading the Bogleheads forum for ~10 years I was quite sure I was on solid financial ground (even before SS kicks in). I was somewhat focused on not saving "too much". Of course it is always nice to have an even larger portfolio, but I was not interested in working longer to get from, say 30-35x (not counting SS) to say 40x or more. To me, this would mean that I worked longer than necessary, at the expense of what are probably the "healthiest" (=youngest) years in retirement. But that is just what was right for me (not implying it is right for everyone).
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Re: Were you nervous when you retired?

Post by Sandtrap »

I was hesitant. Did not have to "retire" per se, since I am a self-employed businessman.
But, I like to work, have always, no vacations, some day's off, enjoy what I do.
So, if not for health issues, I likely would still be actively involved in a business.
But, it has taken 5-8 years to get used to being "retired" and now, I'm busier than when I was working.
. . . . although I still miss working. . . . because work has never felt like "work" to me.

silly

I imagine it's different if one is an employee or has a pension.
j :happy
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Re: Were you nervous when you retired?

Post by flaccidsteele »

A job is a decades-long addiction to trading your Life for money

Withdrawal will be a challenge
The US market always recovers. It’s never different this time. Retired in my 40s. Investing is a simple game of rinse and repeat
Cascade425
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Re: Were you nervous when you retired?

Post by Cascade425 »

Normchad wrote: Sat Sep 26, 2020 12:25 pm I’m following this thread, I’m in a similar place.
51M here and I will retire in 3-4 years. I think we have enough now but I want to get all the kids into college and on their way so we can fund that obligation. Once I see that's taken care of then I will hopefully retire.

I like my job most of the time. I have mostly enjoyed my career. I've been working full time since 1992 and I'm ready to stop. Summer 2024 at the latest.
A440
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Re: Were you nervous when you retired?

Post by A440 »

Cascade425 wrote: Sat Sep 26, 2020 11:52 pm
Normchad wrote: Sat Sep 26, 2020 12:25 pm I’m following this thread, I’m in a similar place.
51M here and I will retire in 3-4 years. I think we have enough now but I want to get all the kids into college and on their way so we can fund that obligation. Once I see that's taken care of then I will hopefully retire.

I like my job most of the time. I have mostly enjoyed my career. I've been working full time since 1992 and I'm ready to stop. Summer 2024 at the latest.
+1
Sounds like we are on a very similar path.
I don't know what the future holds, but I know who holds my future.
Faith20879
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Re: Were you nervous when you retired?

Post by Faith20879 »

Normchad wrote: Sat Sep 26, 2020 12:25 pm I’m following this thread, I’m in a similar place.

I’m 99% certain I have enough. I’m 52ish. I have job complaints, but really, I think it’s just me. I think I don’t want to do it anymore. When I talk to colleagues though, they look at me like I’m crazy. None of them say they’ll retire before 63.5.. so I am nervous that maybe I’m missing something obvious, and I will make an irreversibly bad decision.....
+1
Nowizard
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Re: Were you nervous when you retired?

Post by Nowizard »

If you have sufficient funds and have at least superficially planned some retirement activities, then you will be as successful in retirement as with finances while working. At least that is a solid assumption. One issue we experienced was difficulty moving from accumulation to preservation stages of investing since we had successful investing experiences. Frankly, we did not move to a more conservative portfolio for nearly a decade in spite of having little need to take risk. We still use a small percentage of funds, less than five percent, for occasional stock purchases, considering that to be similar to other decisions such as purchasing a a more expensive bottle of wine or some impulsive purchase. It has always helped to recall that anxiety lies in the future and relates to what may happen. Reasonable to consider negative possibilities but crucial to consider that along with personal history of decision making as the guide. With a good history, anxiety is a positive that fuels things such as seeking responses here as a respected site. Best of luck, and welcome to the next phase.

Tim
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Re: Were you nervous when you retired?

Post by BolderBoy »

4nursebee wrote: Sat Sep 26, 2020 11:26 am Is this what it was like for you? How did you deal with it?
Exactly. See below.
How long did it take for the nerves and anxiety to get better?
3 years.

Firecalc said I could easily retire. One of my co-workers (MBA, CFP) said I could easily retire. I'd worked at something since I was 16 y/o. Working was a big part of my identity. Went part-time at 61 but my anxiety grew as my work skills deteriorated so I quit completely at 64/65. Absolutely no regrets having left my previous life behind.
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect
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Re: Were you nervous when you retired?

Post by prairieman »

Sage16 wrote: Sat Sep 26, 2020 11:34 am I retired about 5 years ago. The first 2 weeks or so were very strange like I was cheating or something. I felt like I was supposed to be somewhere and I felt guilty being home. After 2 weeks it passed. I had a good career, no complaints but retirement is by far the best job I ever had. Stop stressing over it, just do it, you will be so glad you did.
I felt the same weirdness at first and even acted on it. I got a few calls asking if I’d consider consulting and proceeded with three interviews. Then I woke up one morning, thought about how nice it was to just get a cup of coffee, sit by a sunny window, and read a book with no need to answer to anyone. I had adjusted to the simple life and just knew then that I would not consult either.
“As long as the roots are not severed, all is well.” Chauncey Gardner
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