The Retirement Newsletter: Do I need to practise at being retired?

Issue Number: -103 — Dealing with retirement cold feet

Jan 30, 2022

Do I need to practise at being retired? — Photo by Matthew Bennett on Unsplash

Welcome

Welcome to issue -103.

Last week — Issue -104: Two years to go! — I celebrated having two years to go until I retire. And, in that issue, I looked at what will I be when I retire. This was all brought on by Issue -105: Ten reasons why I won't be retiring in 2022, where item 8 in the list of 10 reasons not to retire stated:

“8. What will I be?

Currently, my job defines me — I am a scientist and a lecturer. When I retire, what will I be? How will I define myself?"

So, this week, I will look at whether I can practice for being retired.

(If you are wondering why I am using such an odd issue counting system, it is because I am counting down the weeks until I retire. As of this issue, there are 103 weeks to go.)

The Future — what are am I going to do?

I have written a lot about planning for my retirement; for example, see:

And I have written about things I might do when I retire — see Issue -121: What am I going to do once I retire?.

In Issue -121, it was all the 'big plans', it was all about:

ski plan — In this plan, I become a 'ski bum' and spend my winters skiing. Problems with this plan are the cost and my knees. My finances and knees will not handle years of cost or the impact, respectively. Plan shelved.
The travel plan — The travel plan was pre-COVID-19. I was going to become a digital nomad and wander the planet. I still like the idea of travel and being a digital nomad, but COVID-19 has put me off. The thought of catching some new COVID-19 variant while abroad or getting trapped overseas due to airports and borders being closed is a serious worry. The plan is currently shelved.
The Europe plan — Pretty much like the Travel Plan, but in Europe. Again there are the COVID-19 concerns, plus Brexit means it is not easy to travel around Europe for extended periods. I no longer have freedom of movement. Plan shelved.
The UK camper van plan — The UK camper van plan is the Travel Plan and the Europe Plan but in the UK. Staying in the UK solves my COVID-19 concerns, and I have freedom of movement. OK, it may not be as exciting as the Travel Plan or the Europe Plan, but at least I am on the move and exploring. There is a lot of the UK I have not visited.
The narrowboat plan — The narrowboat plan is my current favourite because it is the UK camper van plan but done slowly.

When I look at these plans, they all have two things in common — travel and adventure. Yet, there are always the 'downtimes' regardless of the plan. The time when I am not travelling and experiencing new things. How can I fill that time?

So, can I, or have I, 'practised' at any of these for my retirement? Well, yes and no.

Practising for retirement

Over the years, I have practised the travel and adventure side of things a lot.

I have lived and worked abroad. I have travelled a lot for my work, and, over the years, my bosses have allowed me to 'save up' holiday and take extended periods off work. Furthermore, I know what it is like to travel for long periods and live out of a suitcase. I have done the digital nomad thing. I have travelled, I have explored. I like it, and I am comfortable doing it. I want to do more.

But, none of the above is practising for retirement. What about:

Money
Not going to the office
No more work colleagues
Boredom
No fixed schedule

Money

I have never earned a lot of money. I am an academic. We don't. So, I have not experienced having lots of disposable income.

When I started my career, the pay was a joke. My friends were earning three to four times the amount I was making. I never caught up. But I enjoyed my job, and some of my friends didn't seem to enjoy theirs.

For the past 4 to 5 years, I have been saving hard, and I have reduced my expenditure to the level I will have when I retire. I have been practising, and I have found that the money side of things will work.

Not going to the office

I used to worry about this side of retirement, and then COVID-19 happened. For the last two years, I have been pretty much working from home. I don't miss the office. This will not be a problem.

No more work colleagues

I will miss my work colleagues, but they are colleagues — sorry, current colleagues. From my experience of changing jobs, colleagues that want to stay in touch stay in touch.

Boredom

Boredom is the one thing that worries many people approaching retirement.

You have plans, e.g., to buy a camper van and travel, but what about the 'downtime' when you are not on the road, or you are set up and staying somewhere? How do you fill your time? What do you do to prevent boredom?

I can't see boredom worrying me. I have too many things I want to start, finish or do. I have a lot of time fillers. Things to fill the 'downtime'.

I think boredom is a result of a lack of imagination or creativity.

I cannot see myself being bored when I retire.

No fixed schedule

Like boredom, I can't see this being a problem.

During most of my career, I have fixed my schedule. Yes, there have been 'anchor points' — meetings and deadlines — but I have more often than not determined my path. I am used to setting my schedule and filling my day.

Summary

OK, so I have been practising for my retirement, but more needs to be done. If I go with either the camper van or narrowboat plans, I need to get some time in a van or on a boat.

Many of the common issues that new retirees face — reduced income, no more going to the office, boredom — will not concern me.

What are your thoughts on this? Have you been practising for your retirement? Why not leave a comment below?

Next week

Next week, I will dig a little deeper into my plans to fill my 'down time' and fight off boredom.

Thanks

Thanks for taking the time to read this newsletter, and please don't hesitate to share it with your friends or on social media using the buttons below.

If you would like to say 'thanks' for the newsletter, why not buy me a cup of tea?

Until next time,

Nick

PS, If you have something you would like to contribute to the newsletter — a story, advice, anything — please get in touch.

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