Retirement-Semi Retirement, (Tech/a personal study) implementation and discussion.

[tech/a]

12 mths ago I started this thread.

Financial Independence (Home Ownership, Super, Long Retirement) not possible for wage earners: What do we need and how do we get it?

Happy New Year everyone 2024 opens with many challenges for most. Following the discussion on one of the housing threads I feel that there is a great deal more that needs to be considered by everyone who chooses to live in western society. Getting a job is generally the first consideration...

www.aussiestockforums.com

Today is week one of my transition into Semi Retirement. I have put people and Systems in place to move into a 3 day week
Tuesday Wednesday and Thursday. Being self-employed it has always been my intention to continue in some capacity in
my own company and I think that 3 days is the absolute minimum that would be beneficial to both the company and myself.

Financially I am ok and can travel freely, meet all commitments and increase my net wealth even if fully retired to the age of 95
which is how long my father lasted I am 71. Time and freedom along with RELEVANCE are my current goals.

I have to admit I've seen myself go through a number of personal attitude changes.
My goal in working for myself was to make excess funds so saving wasn't an issue it just happened to be surplus to my needs.
That achieved--my business allowed me to work longer than most even though I have a natural tendency to overlook
older job applicants. I want people to stay around. So Im the eldest most 20-50 and a few 55-65.
That came and went --then time became all-important --my wife has had Knees and Hips replaced and back issues. Friends have
dropped like flies around us. Priorities have become more ---How long can we do what we want to.

Im currently fine but who knows?

RELEVANCE

This word has more meaning now than ever. I go to parties and during conversations, I find those who are retired 70% of the time
arevBored brainless. Have very few goals particularly if they are pensioners.
In my narrow world of Civil works I have relevance. I enjoy the challenge and the interaction with all we work with. I'm not bored.

Why don't I sell. Good question and if the right number came along and it was in the best interests of those who work for me I'd
have to seriously consider it. But right now if I had a fist full of Dollars the return on it wouldn't come close to Director payments.
I'm invested in my own company and a few others.

My point of this thread is to report from time to time on my progress. Hopefully, some of my experiences could help others.

I encourage those traveling the same road (All of us at various stages) to add their experience Im no expert!.

Tech

 

[Knobby22]

Smart to transition. Am very interested in how you go and any advice you can impart.

I do know some people that have retired successfully. One does charity work, is in two rock bands and does bicycle trips. (65). His wife still works and her job is life affirming.

The other, my sister (59, 65) and her husband lead a great life with road trips e.g. to middle of Australia for rock concert, caravan down the beach, involvement with Rotary, weddings for their kids, etc.

Both these people used to own a business and are used to being busy.

I don't want to end up like those bored retired types. Am thinking may go part time in a 2 or 3 years because I am sick of the work stresses and limits to my time but enjoy some aspects of the job (engineering). (60).

 

[divs4ever]

12 mths ago I started this thread.

Financial Independence (Home Ownership, Super, Long Retirement) not possible for wage earners: What do we need and how do we get it?

Happy New Year everyone 2024 opens with many challenges for most. Following the discussion on one of the housing threads I feel that there is a great deal more that needs to be considered by everyone who chooses to live in western society. Getting a job is generally the first consideration...

www.aussiestockforums.com

Today is week one of my transition into Semi Retirement. I have put people and Systems in place to move into a 3 day week
Tuesday Wednesday and Thursday. Being self-employed it has always been my intention to continue in some capacity in
my own company and I think that 3 days is the absolute minimum that would be beneficial to both the company and myself.

Financially I am ok and can travel freely, meet all commitments and increase my net wealth even if fully retired to the age of 95
which is how long my father lasted I am 71. Time and freedom along with RELEVANCE are my current goals.

I have to admit I've seen myself go through a number of personal attitude changes.
My goal in working for myself was to make excess funds so saving wasn't an issue it just happened to be surplus to my needs.
That achieved--my business allowed me to work longer than most even though I have a natural tendency to overlook
older job applicants. I want people to stay around. So Im the eldest most 20-50 and a few 55-65.
That came and went --then time became all-important --my wife has had Knees and Hips replaced and back issues. Friends have
dropped like flies around us. Priorities have become more ---How long can we do what we want to.

Im currently fine but who knows?

RELEVANCE

This word has more meaning now than ever. I go to parties and during conversations, I find those who are retired 70% of the time
arevBored brainless. Have very few goals particularly if they are pensioners.
In my narrow world of Civil works I have relevance. I enjoy the challenge and the interaction with all we work with. I'm not bored.

Why don't I sell. Good question and if the right number came along and it was in the best interests of those who work for me I'd
have to seriously consider it. But right now if I had a fist full of Dollars the return on it wouldn't come close to Director payments.
I'm invested in my own company and a few others.

My point of this thread is to report from time to time on my progress. Hopefully, some of my experiences could help others.

I encourage those traveling the same road (All of us at various stages) to add their experience Im no expert!.

Tech

having tried to do this but hitting a few pot-holes

first i suggest a FULL medical check ( your partner as well if you have one )

it wasn't until 2016 ( 6 years into my retirement preparations that i went for a check-up , then a few tests .. and some MORE tests .. and roughly 6 months later i am retired on a full disability pension ( roughly 3 and half years earlier than planned ) ( by the way .. the GP still hasn't seriously investigated below to navel , i have some surprises left despite the subtle hints ... but at least it is all bulk-billed )

i am not saying retire now , just get advanced warning of potholes lurking around the corner

as i see it one of your biggest challenges in resisting future inflation ( because i have no idea what the real number will be , and i suspect few have an accurate crystal ball )

good luck

 

[macca]

12 mths ago I started this thread.

Financial Independence (Home Ownership, Super, Long Retirement) not possible for wage earners: What do we need and how do we get it?

Happy New Year everyone 2024 opens with many challenges for most. Following the discussion on one of the housing threads I feel that there is a great deal more that needs to be considered by everyone who chooses to live in western society. Getting a job is generally the first consideration...

www.aussiestockforums.com

Today is week one of my transition into Semi Retirement. I have put people and Systems in place to move into a 3 day week
Tuesday Wednesday and Thursday. Being self-employed it has always been my intention to continue in some capacity in
my own company and I think that 3 days is the absolute minimum that would be beneficial to both the company and myself.

Financially I am ok and can travel freely, meet all commitments and increase my net wealth even if fully retired to the age of 95
which is how long my father lasted I am 71. Time and freedom along with RELEVANCE are my current goals.

I have to admit I've seen myself go through a number of personal attitude changes.
My goal in working for myself was to make excess funds so saving wasn't an issue it just happened to be surplus to my needs.
That achieved--my business allowed me to work longer than most even though I have a natural tendency to overlook
older job applicants. I want people to stay around. So Im the eldest most 20-50 and a few 55-65.
That came and went --then time became all-important --my wife has had Knees and Hips replaced and back issues. Friends have
dropped like flies around us. Priorities have become more ---How long can we do what we want to.

Im currently fine but who knows?

RELEVANCE

This word has more meaning now than ever. I go to parties and during conversations, I find those who are retired 70% of the time
arevBored brainless. Have very few goals particularly if they are pensioners.
In my narrow world of Civil works I have relevance. I enjoy the challenge and the interaction with all we work with. I'm not bored.

Why don't I sell. Good question and if the right number came along and it was in the best interests of those who work for me I'd
have to seriously consider it. But right now if I had a fist full of Dollars the return on it wouldn't come close to Director payments.
I'm invested in my own company and a few others.

My point of this thread is to report from time to time on my progress. Hopefully, some of my experiences could help others.

I encourage those traveling the same road (All of us at various stages) to add their experience Im no expert!.

Tech

A few years ago we had a new neighbour move in, he had been a big fish in a small pond in country NSW.

A business employing people, well known in town, service clubs, charity requests and benefit nights etc etc

All started off well, golf and fishing, then the Mens shed got added, then one day a week work for his son, then stuff this I want to go back home.......................

Going from someone with a purpose to your day to a person with no purpose and no relevance to your local area can be rather a deflating experience.

When I retired I felt a bit useless at first but had health problems which slowed me down and I had sufficient jobs in our new house and land to keep me busy so I adjusted after a month or two.

 

[IFocus]

Everyone one is different, had a busy job that was technically interesting plenty of responsibilities and was well paid so I wouldn't leave.

Announced retirement and had a line at my desk of similar aged men asking what the hell was I going to do after finishing work.

None of them were happy at work but had little else outside of it.

Since leaving work and the stress behind have never been busier or more engaged in life in so many areas.

Good luck to everyone on the journey like I said everyone is different except for, short life, long death.

Try not to screw it up.

 

[wayneL]

Everyone one is different, had a busy job that was technically interesting plenty of responsibilities and was well paid so I wouldn't leave.

Announced retirement and had a line at my desk of similar aged men asking what the hell was I going to do after finishing work.

None of them were happy at work but had little else outside of it.

Since leaving work and the stress behind have never been busier or more engaged in life in so many areas.

Good luck to everyone on the journey like I said everyone is different except for, short life, long death.

Try not to screw it up.

Seriously contemplating (forced) retirement soon as per my bitching in the health thread... An old injury is really causing me grief now, today was *bad. Financially prepared, if not mentally.

But as you say, I have some things I'd like to do, so won't be languishing in front of the TV drinking Guinness, if so.

I remember my Dad saying after retirement that he couldn't figure out how he had time to go to work. Lol.