Is retirement on the horizon for you or your spouse? I must admit, my radar is definitely up on this topic because although we don’t have a set date, I know my husband’s working days are numbered. And I’ve often wondered, “What will Tony do if he’s home all day?” “What will I do if he’s home all day”? But there are a lot more things to ask and to consider when retirement for anyone is looming. So I am pleased to welcome Elizabeth Estelle from Goal Accomplished to the blog today. She and her husband are a year into this retirement gig. Here’s her Transition to Retirement: What You Should Know.
My husband retired last year on July 1, 2017. He had worked for 31 years for our local school system and he was ready to be out and to work on his own projects. When you’ve set your actual retirement date, you go into a stage I call “Meetings”. And since we agree with the proverb: two heads are better than one, we attended these meetings together.
Transition To Retirement: Meetings
Work meetings: We went to meetings with the Human Resources department and filled out forms for direct deposit and made decisions about which health care plan we would need.
Financial Meetings: We went to an investment advisor. Most people do not retire at the same income level as when they were working. Budgeting and financial obligations have to be addressed seriously and realistically. Our investment advisor gave us good information on how to best use the money we had saved.
Meetings between husband and wife: We also discussed the following questions that involved how we would spend our money:
Would we need one car now or still two?
We didn’t need to buy work clothes anymore so how would our wardrobes be changing?
We wanted to travel but did we still want to camp or were we now at the hotel stage of life?
Pension Meetings: We went to a meeting with the retirement pension people. They explained the 16 different options we had to choose from. We thought they would also be advising us, but their job was only to explain the options. After a certain number of days, that choice was irrevocable. Our financial advisor was a big help with which option would work best for our situation.
Maybe you have heard that retirement is all fun- but as a housing counselor, I saw a lot of retired people who were not having fun. They were in unmanageable debt because they couldn’t manage their money, there was no money to manage and/or they had health problems that had used up their money. It is essential that you know your income and your expenses. That information is crucial to your financial decisions at this time of life.
Transition to Retirement: Time Management
The next stage of retirement is called Time Management. How are you going to spend your time now that you are in charge of your schedule?
My husband and I agree that you need to make sure you are taking good care of your best friend, your spouse. It is extremely sad to us to hear about post-retirement divorces. In each stage of life, there are struggles, but with the help and support of your spouse, you can make it through together.
Retirement should be the time when you can reap some of the rewards of working hard for years and years and years. Make sure husbands that you are taking care of your wife through the years so that you can enjoy retirement happily together!
Wife, make sure you are helping your husband as he transitions into retirement. It is a big change for both of you!
Don’t get frustrated-keep talking through things.
Volunteering: Once you are retired, there may be people who think you can now do all the work at your volunteer organization or church. While you might want to spend some extra time helping, how are you going to manage how much time you spend volunteering?
Hobbies: We know of one man who retired with the expectation of finally being able to play golf whenever he wanted to. What he discovered was that after 3 months, he was tired of playing golf!
Make sure you have some hobbies and ways to spend your time. The more meaningful you view your activity, the more enjoyment you will get out of it. One contractor we know enjoys helping out with house maintenance for his elderly neighbors. Floyd says “I’m taking the hands-on stuff that I’ve done for years and I’m using those skills to help people.”
Since both my husband and I are home now, we have to purposefully make a social calendar. We still want to get out and see people. We had different ideas about what our social interactions would look like, so we have had to work through that.
He doesn’t necessarily like going to lunch with my former co-workers but he does. I don’t necessarily like going to cut trees and move brush, but I do. We keep doing things together because we like to be together.
Transition to Retirement: Travel
Now it is June 2018. Since last year we have traveled thousands of miles during 9 trips. We have driven to Manitoba Canada, Denver, Colorado, seen family in Connecticut, visited the Creation Museum and Ark in Kentucky, taken our daughter to college in SC, driven to Grand Teton National Park in Wyoming, flown to San Francisco three times, seen the Living Gallery presentation at Bob Jones University (phenomenal), visited SeaWorld and Key Largo, FL.
We won’t always be able to travel so much, but while we can, we will. We enjoy visiting our family and friends all over the country and in Canada. We are having fun as we figure out what new adventure is on the horizon. In between our travels, there is plenty of lawn to mow and gardens to weed.
I hope this post helps you as you go through the meetings, time management and transitioning stage of your life. Happy Retirement! Now on to new adventures! If you are new to retirement life, how are you filling up your time? Please comment below.
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Elizabeth Estelle
Elizabeth has transitioned from art teacher to homeschool mom to support staff for her husband. She enjoys encouraging people in whatever stage of life they are in. She blogs about home, homeschool, travel and getting dinner on the table. If you type YES to goalacc7@gmail.com, she will be glad to send you her Thirty Day Encouragement Journal. Her blog is Goal Accomplished.
Hello Elizabeth what wonderful tips you have provided. One of the biggest problems is that people look forward to retirement but don’t really have a plan. After the initial novelty wears off they feel lost. I like how you have written the practical tips rather than just concentrating on what to do in retirement. You appear to have made a successful transition and thanks Cathy for linking up and sharing Elizabeth’s post with us at #MLSTL. I’m sure it will be very valuable information to many Over 50s.
Sue from Sizzling Towards 60 & Beyond
Thank you, Sue, for your encouraging remarks! You are right- having a good plan is very important in making a successful transition.
Kathy and Elizabeth, this a thoughtful and fantastic post with information described that many contemplating retirement do no think about. When I retired from my day job of 32 years (through CalPERS) system, there was so much paperwork, things to read, choices and decisions to be made, just as you describe. Then what to do with all the time? I still work part-time as a university lecturer, which keeps me busy, but I do not miss the day job working my a$$ off all summer as the aquatics director overseeing 15 public swimming pools. Instead my summers are mellow and… Read more »
Terri, you are right that there can be a lot of paperwork involved. And since it affects the rest of your retirement, it is very important to know what you are signing up for. I am glad you have made a good transition- enjoy!
Wonderful ideas here. I transitioned to retirement over quite a few years in both an unconventional way (I kept going back to part time work) and a conventional where I finally stopped work and receiving any income. I would have to add it was hard for a while as I had identified as a teacher for 2/3 of my life but over time it is easier. We moved house too but are renting while we get an idea of where we will settle. I had a cancer diagnosis in May 2017 and that is when we knew we would need… Read more »
Thanks, Denyse! Thank you for your service as a teacher. I hope you are doing well with your cancer treatments and are able to enjoy your retirement time. You are right that communication is very important as you transition to retirement.
I really enjoy reading about others successfully transitioning into retirement. My husband works from home so I don’t think it will be as big a shock for us as it is for others. I’m gradually reducing my work days down (I’m now at 2 a week which is perfect). We’re looking forward to some more overseas travel when we have the extra time in retirement and there will definitely be a consultation with a Financial Advisor in there too!
Thanks for linking up with us at #MLSTL and I’ve shared this on my SM xx
Leanne | http://www.crestingthehill.com.au
Thanks, Leanne for your work-from-home perspective. Enjoy the overseas travel!
Love these very practical tips. I absolutely agree that spending time with your spouse as your best friend during retirement should be a focus. Great article and some big reminders for me during the next few years.
Ohh Pinning and Sharing 🙂
Thanks, Johanna for your encouraging remarks!
Great post. I particularly love the emphasis on working on the relationship from every angle. Like you it upsets me that many couples really struggle with the changing nature of their relationship. Several years later we continue to negotiate aspects of ours, that’s one of the joys of a happy and evolving retirement – or as we prefer to call it rewirement. It definitely can be the best time of our lives. Pinning this.
Thank you, Jan! I love your “rewirement” perspective. And I do believe our schedules will keep evolving as time goes along. Thanks for your comments.
Luckily. my husbands job is also his favorite hobby. He is a tattoo artist, and in his spare time he draws and paints as well! We still have a few years before retirement, but I feel he will transition quite well.
You are lucky that your husband already has a good hobby in place. Do you also draw and paint? I wish you a great retirement in the future.
We had no big plans when we retired but it has gone ok. Traveling and golf were the two things that we knew we wanted to do plus spend winters in Fl. I have been retired 2.5 yrs and husband 2. Our plans if we had had bigger ones would have had to change since husband was diagnosed with stomach cancer in Feb. When you are retirement age we need to be prepared for the unexpected.
Oh, Victoria, you are right that life can change so quickly! I hope your husband’s treatments are going well and that you will have many years to enjoy together. Keep me posted!
This is really good information for those who are looking to retire in the near future. My husband and I retired six (him) and four (me) years ago and we had many of the same discussions. I think the most important takeaway is to keep the lines of communication open. Don’t assume that your partner has the same vision of the “perfect” retirement that you do. Communicate, compromise, and make sure you each carve out time to do things alone or with other people.
Good reminder, Janis! Just because you have been married a long time doesn’t mean you are both envisioning retirement in the same way. You are right that there must be compromise! Thanks for your comment.
My husband and I are both getting close to retirement. I’ve seen a number of people I know succeed but others have failed – many end up returning to work for economic reasons. I don’t want that to happen to us! We’ve already been to a financial planner – we also have to plan around his 90 year old mother’s declining health and his developmentally disabled younger brother. Challenging times ahead, but times I also help will be rewarding to both of us.
Wow, Alana! You have a lot going on. I’m glad you have already been to a financial planner. If you have not already done so, I would also recommend seeing a lawyer who could help you set up a Special Needs Trust for the younger brother and help plan for your mother-in-law’s care as well. Although you care for others, you want to make sure their care doesn’t derail your retirement. I wish you the best!
Fabulous advice here – especially managing social expectations! My husband will fully retire in about three years. I am currently partially retired. My biggest fear is his lack of hobbies or pastimes. I have SO many interests and I don’t want to be responsible for his calendar. But we have time to work on that – and with your timely advice – we now have a game plan. Thank you!
Pinning to my #MLSTL board for future reference.
Hi, Molly. I think you are wise to be exploring some hobbies/pastimes now. Do you have some overlapping interests that you share? I know one husband who absolutely loves helping his wife with her quilting. He likes helping pick out the fabrics and helping with arrangement although he leaves the sewing to her. I hope you can find a good combination of things to do TOGETHER. Thanks for your encouragement!
Hobbies are SO important, and especially so for men. They often seem at loose ends when it comes to retirement.
#MLSTL visitor (shared on SM)
Yes! You are so right! Are you already retired? How are you filling your time?
Thank you, Cathy, for introducing us to Elizabeth. This is great advice. I am in the planning for retirement stage. I know there will be surprises, but I’m trying to think ahead as much as I can. I have shared on social media, as I’m sure there are others who could benefit from your experience. I found this post on #MLSTL.
Thank you so much, Christie! I wish you great success as you transition into retirement. Your advance planning will serve you well.