The Retirement Newsletter: Is retirement a long summer holiday?
Issue Number: 9 — How do you plan to spend your retirement?
Welcome
Welcome to issue 9 — retirement is a long summer holiday. Or is it?
This week, I look at how we approach retirement and how I’m approaching it.
Also, this week, the stories about my travel in “Travel — Nostalgia Corner” are hosted differently — more on that in the “Travel — Nostalgia Corner” section.
What is retirement?
This is a tricky question. On the surface, it looks like an easy question to answer — you stop earning a wage and live off a pension. But there is more to it than that.
Some retirees refer to their retirement as ‘the golden years’ — a time to relax and enjoy what is effectively a long summer holiday.
But I was never one for long summer holidays. When I worked, I struggled to take my annual leave entitlement. And when I did take leave, I would always do something active. I would spend my time travelling and exploring, hiking or skiing. I wouldn’t be sitting still “relaxing.” For me, forced periods of sitting still are far from relaxing.
I view my retirement as my third act. But what is the third act?
Well, in movies, the third act is when everything comes together. The plots resolve, and the story is complete. The story has been told. And while this does sound a bit morbid when talking about life, you can view retirement as a third act. Look at life — Act One, school days; Act Two, working days; Act Three, retirement. It makes sense.
I plan to spend my third act following my passions. I will be spending my time developing side hustles, travelling and having fun, and writing about my travels at nickswanderings.com (I might also set up a Travel YouTube Channel — I have the channel set up but no videos.) Plus, I will continue to follow my interests in science by posting videos on my Science YouTube Channel, teaching blog, and through my eBooks.
It is important to consider how you will spend your third act. Do you want to spend it as a long summer holiday, or do you want to do something more with it? Do you want new challenges and excitement? Do you want to give back and share the experience and expertise you have accumulated over the years? Do you want to learn new things and possibly make some extra money?
The bottom line is that it’s your life. How you spend your retirement years, or as I like to think of it, the third act, is your choice. But I think it’s important how you spend it.
For me, this is where side hustles come in. Yes, side hustles are supposed to be about gaining financial freedom, but assuming that your pension is sufficient to live day-to-day, the side hustle can be more than just a way to bring in some extra money. And it is this idea that I explore this week in the edition of The Retirement Hustle.
This week in the Retirement Hustle
In issue three of The Retirement Side Hustle this week, I look at Choosing the Right Retirement Side Hustle: Profit or Passion? — another interesting question. How do you pick?
You can follow your passion and use that as the basis of your side hustle or chase profit. Again, the choice is yours, and I explore the possibilities in the video newsletter.
What would you pick? Passion or Profit? I have gone down the passion route. For me, it is about science, education and travel.
Next week in The Retirement Hustle, I explain how I got to where I am today with my side hustles and explore some of the hustles I have tried over the years. (There have been a lot!)
If you are interested in side hustles in retirement, please subscribe to The Retirement Hustle.
Travel — Nostalgia Corner
The “Travel — Nostalgia Corner” posts are now back at nickswanderings.com and no longer just on Medium; hence, they are easier to access with no ‘read limit’ or paywall getting in the way. I will explain more about the move in a later issue of The Retirement Side Hustle.
This week’s stories are from the start of a visit to Vietnam:
Vietnam — Countryside Restaurant, Hanoi, Vietnam — My first night in Hanoi.
Vietnam — Hang Dao St Night Market — Thành PhHNội, Hanoi, Vietnam — My first market in Vietnam. I do like a good night market.
Vietnam — HHoàn KiếĐinh Tiên Hoàng (LThái Tổ), Hoàn Kiếm, Thành PhHNội… — Time for some early morning exercise by the lake. I felt exhausted watching.
Vietnam — Street Market near HHoàn Kiếm (Hoan Kiem Lake), Hanoi, Vietnam — Early morning street market. The fresh vegetables looked amazing.
Vietnam — Thủy Tạ, 1–6 LThái Tổ, Hoàn Kiếm, Thành PhHNội, Hanoi, Vietnam — Time for a coffee. Is this France?
Next week, some more stories from my time exploring Hanoi, Vietnam.
Next week
Next week, in issue 10 of the Retirement Newsletter, I look at mental health in retirement.
Thanks
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Until next time,
Nick
PS: If you want to contribute a story, advice, or anything else to the newsletter, please get in touch.