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.

 

[rcw1]

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.

Sorry to hear about injury.
Remember … one can be along time retired.

All the best with your decision bloke

Kind regards
rcw1

 

[Boggo]

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.

Very similiar for me, travelling all over the country with work.
Wasn't really thinking much about retirement other than accumulating retirement savings as the years flew by.
When my wife passed away nearly seven years ago with a brain tumour that was the wake up call for me that life was now counting down.

After retirement got involved in volunteering (national parks conservation issues) where I now travel all over the state for weeks at a time and am busier than ever and loving it.

A pic of my part time home at a mates back yard on the Murray.

 

[investtrader]

@tech/a I was going to be exactly like you and continue part time with the business. Staying relevant etc. Then along comes something out of left field with my wife's health and all of a sudden I couldn't give a crap about the business. Sold for a great price and I am actually way happier. I have a number of interests and now I have time to do anything I want, when I want.

 

[frugal.rock]

A pic of my part time home at a mates back yard on the Murray.

The Princess or the Cub?!
Nice either way.

 

[divs4ever]

@tech/a I was going to be exactly like you and continue part time with the business. Staying relevant etc. Then along comes something out of left field with my wife's health and all of a sudden I couldn't give a crap about the business. Sold for a great price and I am actually way happier. I have a number of interests and now I have time to do anything I want, when I want.

yep ... some sort of warning on futures health issues , is a great edge with financial planning

 

[Boggo]

The Princess or the Cub?!
Nice either way.

@frugal.rock The Cub

 

[qldfrog]

Sorry to hear about injury.
Remember … one can be along time retired.

All the best with your decision bloke

Kind regards
rcw1

And Mr @rcw1
remember, one can be a short time alive too.
So better dying working richer or retired living poorer..
A dilemma some of us have/had the luxury to have

 

[moXJO]

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

This is real. It can be hard to be productive without some kind of structure

 

[qldfrog]

This is real. It can be hard to be productive without some kind of structure

Or more because your life becomes filled with actually useful events and activities instead of the 6am to 6pm trading of time vs $ which ensure you do not have to think past tge weekend or the next holiday?
Everyone is different, some thrive on their job and nothing else, their selfworth is their job and once released, they die off.
Others see jobs as a side only, required to provide subsistence, with life available outside music reading social travel community etc etc
A few have jobs which are more than jobs, providing challenges, rewards, learning...and freedom of time /schedule why stop..
To each his her own...
But @tech/a points are valid for all

 

[Craton]

Good onya @tech/a
Best wishes for a most excellent retirement, I mean semi-retirement.

From a personal perspective.
When I first started out on my working career (as a appenticed plumber in the mid 70's) we'd often work on recently retired miner's homes. After a very long career underground, working three shifts, they were looking to enjoy their golden years and had the money to do so.
The usual was upgrading from the old outside dunny to an inside loo plus, modernizing the kitchen and/or bathroom and/or laundry.

I lost count how many of these poor souls would die literally within a year or so after retiring. One bloke I remember well passed away within 6 weeks. We'd just finished the job and a couple of days later, gone!
Lovely old bloke he was really looking forward to spending time doing what he and his long suffering wife want to do together. Clean bill of health but nah, fate dictated otherwise.

Here in the "Silver City" it was a given that blokes when leaving high school and locked into that daily grind mining suddenly, when the work ethic was gone aka retired, so too was their "spirit".
All a lot different nowadays me thinks.

Also different is that we are required to work to a later age. September this year and I'm eligible for the pension (or some part thereof, lol) but will I actually retire or even semi-retire per se?
Can't see it happening for I thoroughly enjoy what I do and as a part owner, I've an amount of freedom that most employees just don't have.

Anyways, thanks again @tech/a for sharing your transitioning retirment with us.

 

[wayneL]

Sorry to hear about injury.
Remember … one can be along time retired.

All the best with your decision bloke

Kind regards
rcw1

Thanks, my man.

I can't imagine not being productive in some way or another.

Changing my trading regime back to when I did it full-time for a living is an option (and highly likely).

Maybe I will attempt to be a Yoootoooob creator in my area of expertise.... That's a pretty crowded field but would cost very little, apart from time to give it a shot. Got some other ideas in that vein too.

Could do some artistic blacksmithing, as I mentioned some time ago, elsewhere on this phone... The positioning of working on the anvil actually doesn't affect my shoulder at all as long as the project isn't too physically large. That would keep me out of the wife's hair lol.

I've also been warned by some of my clients that I am not allowed to retire, so could still do that part time for beer money and keep me connected with my community and fulfil my penchant for BSing and harmless flirting.

 

[divs4ever]

Thanks, my man.

I can't imagine not being productive in some way or another.

Changing my trading regime back to when I did it full-time for a living is an option (and highly likely).

Maybe I will attempt to be a Yoootoooob creator in my area of expertise.... That's a pretty crowded field but would cost very little, apart from time to give it a shot. Got some other ideas in that vein too.

Could do some artistic blacksmithing, as I mentioned some time ago, elsewhere on this phone... The positioning of working on the anvil actually doesn't affect my shoulder at all as long as the project isn't too physically large. That would keep me out of the wife's hair lol.

I've also been warned by some of my clients that I am not allowed to retire, so could still do that part time for beer money and keep me connected with my community and fulfil my penchant for BSing and harmless flirting.

but you love your job/trade/career , MOST of mine i hated from the moment i walked in the door , in fact some of my best tales are ridiculing the workplace ( including photos to prove i wasn't exaggerating )

what i did appreciate was the cash .. that let me do what i really wanted to do

now that i am retired i have had to cut back of spending ( and time ) on some leisure activities .. but go back to work ( even one hour a week ) that would have to be a very special place .. i am just so over regulations , safety lectures and induction courses .. and THEN ask them one question ... where is the First Aid kit ? ( proving they have just wasted 30-60 minutes of my life )

but if you can find an outlet that creates beer/holiday money good for you

 

[wayneL]

but you love your job/trade/career , MOST of mine i hated from the moment i walked in the door , in fact some of my best tales are ridiculing the workplace ( including photos to prove i wasn't exaggerating )

what i did appreciate was the cash .. that let me do what i really wanted to do

now that i am retired i have had to cut back of spending ( and time ) on some leisure activities .. but go back to work ( even one hour a week ) that would have to be a very special place .. i am just so over regulations , safety lectures and induction courses .. and THEN ask them one question ... where is the First Aid kit ? ( proving they have just wasted 30-60 minutes of my life )

but if you can find an outlet that creates beer/holiday money good for you

Yeah nice people and nice horses are enjoyable for me, as is creating stuff on the anvil.... Except when it's 20,000° in the summer. And It is an be awful trade for those who don't like it/horses though. Plus, yeah, no overseers to make life hell.

Ideal situation would be 10 hours a week under nags, but only those I want to do, and then whatever takes my fancy. That would net be roughly 1k a week, plus whatever I can scrounge from the markets, plus chump change for little blacksmithing projects, plus $1m a year if, in the highly unlikely event of becoming a BS yoootoooob guru haha. (And I think I am too ugly and uncharismatic for that).

That would satisfy my wife's penchant for expensive horses and shoes.

Dreams are free... ( )

 

[qldfrog]

Yeah nice people and nice horses are enjoyable for me, as is creating stuff on the anvil.... Except when it's 20,000° in the summer. And It is an be awful trade for those who don't like it/horses though. Plus, yeah, no overseers to make life hell.

Ideal situation would be 10 hours a week under nags, but only those I want to do, and then whatever takes my fancy. That would net be roughly 1k a week, plus whatever I can scrounge from the markets, plus chump change for little blacksmithing projects, plus $1m a year if, in the highly unlikely event of becoming a BS yoootoooob guru haha. (And I think I am too ugly and uncharismatic for that).

That would satisfy my wife's penchant for expensive horses and shoes.

Dreams are free... ( )

I thought you were a shoe expert, self designer,and your wife a very contented lady?