[Susan]

Ok I did it! My first official day of retirement at 55, and I can honestly say that I am still processing.

I don’t think it will seem real until I have handled all of the administrative details of COBRA (bridging a few gap months until we take a global policy) and investigate what, if anything, should be done about 401k, ESPP, HSA etc.

So two questions:
1) At what point did you actually start to feel relieved and not unsettled by the sheer change of it all?

2) And how did you learn to get comfortable spending without having a death grip on your wallet?

The mind shift of what I can afford and what I cannot is a bit overwhelming without the reassurance of steady incoming cash flow.

I’ve never been one to track every penny but is that something I have to do now?

Is there a more balanced approach that works for you?

[Dawn]

Congratulations!!! I am officially retired 1-year today and am just now feeling retired!

1) It took me 5-6 months to settle and accept my new normal after 36.6 yrs. Give yourself grace, it’s a huge transition.

2) Still working on this one, cash to bridge gap helpful, market volatility somewhat concerning but only in making me more mindful of budget (yes use a budget) and trusting myself.

At 58 I knew the next 3-4yrs would be tighter until officially drawing down. Pace yourself and enjoy your new freedom!

[Veronica]

It took the length of my longest vacation to even start getting used to being retired.

Definitely keep busy… give yourself a little schedule. I celebrated by immediately leaving to go on a month long trek in Nepal.

As far as the wallet, I am still getting g used to no paycheck.
I “pay” myself twice a year and look at it like a paycheck.

Five years before retirement I hired a financial manager- she has set me up such that what I “pay” myself is plenty to live on as well as extra tucked in for travel.

I’m on year three and so far so good!!

[Keith]

Congratulations I have been retired for 7 months today. I still have to get comfortable with the change in savings to spending mode.

The recent volatility has been scary but if you have a good cashflow plan outside of market appreciation you will be fine.

I am still doing the cobra thing and haven’t touched any retirement funds until 60. I retired at 56.

I am getting in the groove in month 7. I track every dollar with cashflow analysis but leave plenty of room for fun.

I have everything tracked out into future for at least 6 months.

Good luck.

[Aaron]

Congrats!
With the 401k just remember that if part of your plan is to use the rule of 55 for penalty free withdrawals, then you must keep the money from your last 401k in the 401k and not roll it to an IRA.

Doesn’t have to be all the money, but regular IRA withdrawals at 55 (not SEPP) would get a 10% penalty.

[Lorena]

As the spouse of a 1 year retire please keep your psych in check with not bringing money in but spending.

My spouse who was never one to control our $$$ (I’m the gate keeper of the finances) can get into big conversations making me feel like I’m being strangled.

I do quick calculations in my head and show him how we are doing great. It’s not easy

[Denny]

Regarding #2, I’m semi-retired and slowly transitioning to retirement. I’ve done lots of modeling to determine my monthly spending limit.

I’ve also shifted a portion of my investments to a dividend focus, so it feels like an occasional paycheck.

For whatever reason, it feels easier to spend dividends rather than sell shares.

[Jack]

Wow, all newbie retirees here! Now in my 26th year of full retirement starting in 1999 when I was 49 (and with 5 years of semi-retirement before that), I can vouch for how great retirement life is.

[Kelly]

I’m 5 years since I retired @ 55 and I am just now able to shift my mind to spending instead of saving.

What helped was knowing my nest egg is safe and I have streams of income (SS widows benefits & lifetime annuity).

When I need more money I am comfortable taking from my diversified IRA to fill any gaps.

[Svetlana]

Congratulations!! I have been retired for 3 years since 53 and never looked back. Really enjoying it as have all the time in the world to do all the things I always wanted to do.

Spending is never a problem as I was quite frugal all life and got used to budgets.

Actually, I am more relaxed now and let my budget go up nearly twice due to all the travelling we do.

This feels fantastic!

[Catherine]

I’m telling myself I can go back to work any time and that helps.

I also read Die with Zero to help with spending mentality

[Byrne]

#1. I’m semi-retired and can’t imagine being fully retired; I’m already bored! I think the boredom and feeling of not contributing to society is going to be extremely difficult for me to get used to.

2). I can’t see this ever occurring for me.

I will continue to be frugal to leave a large inheritance to our children and help them when needed, but we will enjoy life while doing so.

[John]

I felt relieved the second I put my resignment letter in the mailbox. Spending has not been an issue because I planned for it.

Money is a tool to be used

[Guertin]

I’m 7 months in and 56. Still not used to it. Very hard to make this adjustment of withdrawing from brokerage instead of depositing.

Hopefully it will get easier.

[Chris]

I couldn’t do 1 or 2. Also 55 and after 10 months went back to work. I just wasn’t ready. Very happy now though.

Same industry, less stressful job.

1 and 2 were very hard for me.

[Dan]

At. 58 I am a year into it and it took me a few months re #1. #2 is still a challenge, but I have shifted my portfolio to generate more passive income and the steady predictable cash flows are starting to give me some peace of mind.

[Author]

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