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online options trading

When you retire who said you cannot trade options, even staying home through the internet and enlarge your income ? Perhaps make it a part time job with you as your own boss.

altr01

@JW: I sympathise with your doubts and your wrestling with a decision, as I was in a similar situation over the past year - a redundancy followed by a demotion to a job I didn't enjoy and felt did not use my skills (but, I suspect, not as bad a situation as yours). I decided to take early retirement at 56 when it was offered by my employers. I agonised long and hard over the decision. You will KNOW you've made the right decision when you feel the incredible sense of peace and happiness I felt once it was made. Good luck!

Giana Forzareli

If you are going to pick anywhere to retire to, I suggest you look into Costa Rica. It can be very inexpensive and the lifestyle is completely amazing. I have noticed that a lot of Europeans and Americans retired there when I was staying in Costa Rica vacation rentals last year. Definitely take a chance on Costa Rica, you wont regret it.

robert mccormack

i have just turned 65, i have lived in thailand for nearly the last 30 yrs. i guess that is sort of like a dream holiday in itself but for me i started up a packing business about 20 yrs ago and worked at it pretty hard for several years and now i want to sell it and move on however for me that does not mean retirement.

i went to italy about 6 months ago and came back with the idea to build a condominium using lots that i had seen and learned from italian architecture. i am pretty excited about that.

i suppose i should be thinking about retirement but i cannot imagine what that would look like. maybe after we finish the 1st or 2nd condo project. after all it's the journey and not the destination. for me the final destination has never been retiring to a beach. i would go nuts at the beach with nothing much to do. i am not a person who could sit in the sun all day to work on my tan.

i am still in pretty good health so i really don't have any limitations to working for several more years. i like the structure that a work routine brings. and i like being in charge of staff and making decisions all day long. i absolutely would be afraid to retire but more truthfully i really do want to retire. i like to work.

Retired Syd

Robert: I say it's all about having fun. It sounds like you are. If you're having fun doing what you're doing, I say keep doing it!

abirds

@New at this - you nailed it. Fear of "going hungry," of not having enough money to "navigate through whatever may come" is the real reason for me why I haven't retired yet. And, like you, "the remuneration (from my job) has held me captive far longer than I wanted to stay."

Having a job with a steady paycheck provides our security. That sense of security kind of gets wired into our brains for good reasons -- just consider the effects of unemployment! So, it's hard to get that trained response out of our heads, even when the numbers look good for quitting the work world.

I'm also particularly risk averse and get more so as I get older. But, now I'm more concerned about the long-term damage that chronic job stress has caused and hope that quitting will restore my soul and brain.

I'd be curious to hear from those who have retired to know how long it took to get your mojo back!

Thanks, Syd, for this great blog. Your technical expertise make your advice practical and realistic.

JW

Thank you all for your insights. I'm officially retired and glad for it. My wife and I look forward to fulfilling our commitments to local charities over the next year and then most likely relocating to a community where we can live a life of leisure accompanied by warmer winters.

The last couple of months have been wonderful as I transitioned out of my role. I do have some sadness over the ending if a 20 year relationship. But, mostly I feel fortunate and grateful to be in the situation that I'm in.

Wishing all of you the best for success in the New Year.

CS re-careering

Hi Syd. Congratulations on your excellent blog. It's fun and informative. It is so interesting for me to read other people's comments and misgivings, both on the monetary side and the emotional issues; who will I be when I retire? how will I feed my ego? will I have enough money to travel? will I have enough money for health insurance? ... all the same issues that I have.
My husband and I are in our late fifties and have been married for 17 years. We both have adult children from previous marriages. This creates an added complication to retirement, as not only do we have our common joint interests but we also have independent, mutually exclusive, interests - in our children.
I am going through the whole gamut of thoughts at the moment; I want to retire soon but I am desperate to maintain my financial independence. I am a partner in a Big 4 auditing company and I'm kind of locked-in to the security of a good monthly salary and profit share. If I retire I want to continue working, but in a different direction - something in the literary field. I have no idea whether I will be able to generate enough money to maintain my international travel habit, and to continue visiting my children and grandchildren in Cape Town and Johannesburg. I certainly don't want to work for anyone else - I want to be my own boss. I would love to hear from anyone in the know what the options are in the literary field (I want to write but I'm scared I won't be good enough) and what other people feel about changing career direction in retirement.
Wow! I'm feeling so good at the moment - I've just taken my first concrete step to my retirement and new career by posting this on your blog. Thank you!

Retired Syd

Welcome CS and thanks for contributing to the conversation. I've said this before, I am struck by the high percentage of people that come here that are or were CPA's. Congratulations on your successful career in public accounting--I only managed to survive 4 years in that environment! I don't know if this means that accountants are drawn to early retirement in higher numbers, or whether they are just more well-suited to planning for an early retirement. Or maybe something about my writing style appeals to the accountant-types. Anyway, I continue to find that so interesting.

It's good you have something you are looking forward to pursuing. Like you, when I retired I was drawn to writing. Again, maybe we accountants need to exercise another side of our brains after all that number-crunching. I started the blog five years ago with no intentions beyond just learning to blog, improving my writing skills with practice and classes, and having a place to express myself.

But I didn't realize what an important role it would play in my retirement, both the writing and connecting with others turned out to be so rewarding. And blogging has led to some interesting opportunities. Over the last 5 years, I've have been asked to blog for U.S. News, to contribute essays to magazines and a book, to appear on the radio, and most recently to be a freelance contributor to a major newspaper. I've turned down speaking engagements and an opportunity to edit retirement content for an on-line publication too, so it seems that if you really wanted to write, blogging is a great first step.

You just never know where things will lead when you take up an activity you are passionate about.

I have no idea whether writing could eventually support the activities you are talking about, but if you enjoy it, just do it. As a retired accountant, my experience is that there is always an opportunity to put your accounting skills to use for a little extra money if you needed to juice up the retirement income. The pay is a lot better than writing, so a little part-time or seasonal accounting gig could be just the trick, and give you the time to pursue any passions you have on the side.

Good luck CS, and thanks again for joining the conversation!

Beth H

I have given notice and plan to retire from teaching in June. I'm 58. Financially we will be fine. My concern is that I've spent so much time working, I haven't developed a lot of interests and a network outside of my job. We currently are looking at splitting time between two homes and eventually moving to just one. My work colleagues seem to think I'm crazy but we lost a teacher this year after a 9 mos illness who was only 59 so I'm a bit afraid to keep working just because I cannot think of other things to do.

Retired Syd

Beth: It can be scary. But think of it this way, you've got a blank canvas and now you can turn it into any picture that you want. Don't worry too much about it, you have plenty of time to figure it out.

For some ideas: http://retiredsyd.typepad.com/retirement_a_fulltime_job/2013/02/are-you-a-failure-at-retirement.html

James

I have been retired for a year. At first i was terrifed because all i had done previoulsy was work... but know im in my comfort zone and i love it. give it time and you will to.

JW

Been retired now for 5 months. We bought a house south of Savannah, Georgia and plan on relocating there full time later this year after doing some renovation work on the house and selling our current house. We will split our time between the coast and our lake place in Wisconsin.

I can't tell you how many people have either told me I'm too young to retire or suggest what I ought to do in retirement.

Right now I've been enjoying fewer commitments, more time for my hobbies and what I'm passionate about. I don't miss work one bit. The only times I think or dream about it are depressing.

Living the dream and loving it.

JW

Just turned 46 a couple of days ago and after almost a year of retirement, I can say that it was the right decision. My wife and I are closer than ever. We've taken the year to travel and reconnect with friends and family. Our house is for sale and we look forward to relocating to a warmer climate on the coast where we've already bought a home.

We've got plenty of income and we've been enjoying pursuing our hobbies and spending more time outdoors and together.

Thanks again for everyone's contributions.

Retired Syd

JW: Happy almost retire-a-versary! Sounds like you made the right decision. When you go back and read your earlier pre-retirement concerns, can you even relate to them now? Glad it's going so well for you and your wife. Congratulations on a great first year.

John B.

This is an interesting blog and I thank you for it. I have been in the field of education for 42 years. I am 64 and feel it is time to retire. My fear is similar to many people who have posted. I grew up and pretty much built my identity as a teacher. I am fearful of losing that identity. There is a part of me that is excited about the prospects of looking for something new. I just hope that I can maintain an upbeat attitude while I go through the process.

William

What a great site. I am 63+ and have worked for 40 years in manufacturing, engineering, and software. Right now, I am working for a large US company and they are great to me. The salary is nice, and I get free medical for my single self. I have always had the structure and routine of a job, but now my passion seems to be fading. I made a promise to myself 30 years ago that I would retire around 60, and do other things in my life. But as a single father, the thoughts of retiring are kind of scary. I would want to drop my stressful paycheck job, and start doing things that I want to do. My financial situation is pretty strong (part pension, SS, investments, etc.) but something is holding me back. This is why it is so good to come here and read what others are saying. I have never 'retired' before, and want to remain very active for the next 20 years. Thanks for your advise in advance.........

Retired Syd

William: Thank you and welcome! It's a hard decision and feeling scared just makes you normal. I look forward to hearing about your journey!

JW

We closed on the sale of our house back in April and moved full time to the coast and have been traveling a lot. The community here has been so welcoming that we now know more people here than we did in our prior community of ten years. In fact we are enjoying it so much here that the travel plans that we committed to earlier in the year have been less fulfilling as we'd rather just stay here. Next year we'll scale back our travel. My wife continues to remind me that we don't have to do everything in the first year or two, we've got time.

Thankfully as a result of the favorable investment environment of the past year and a half, most of our projections for income have been exceeded and as a result of the move our expenses have dropped by about 50%!

I feel that I'm living my dream and realize that most of my fears about retirement were more related to identity issues or feelings of self-worth.

My goal now is to return to the state of mind that I had when I was a young adult and had adult opportunities with very few adult responsibilities.

Thank you again to the community of posters and bloggers as the mainstream media generally focuses on doom and gloom.

Best wishes to all.

Retired Syd

JW: It makes me happy to read your comment--full of optimism and gratitude. Sounds like you're settling into retirement nicely. Thanks for taking the time to share your experience so far!

Ronni

I have sold my business and became depressed I guess the feel th e weight of not much planning and I am fortunate I think to have rental properties are s little to spread out. I however get 78,000 after taxes after my mortgage. Which I have the money to pay off
I have 1000000 in cash. I guess I cannot stand my lively hood depending on renters versus a pension. I have about 2.8 million at 54 and scared I really quit to early and I don't know after depreciation will my money grow enough to really retire? If I can keep my rentals ten years hopefully ten years I can cash in and just live.

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