The Retirement Newsletter: Planning for the future

Issue Number: -4.5 — What will I do when I’m retired?

Photo by Glenn Carstens-Peters on Unsplash

Welcome

Welcome to issue -4.5 — it’s nine weeks until I retire, and the big question this week is, what will I do when I am retired?

Planning

Planning is important.

It is always good to have a plan.

I like having a plan.

So, what are my plans for when I retire?

Last week in issue -5 —Issue number -5: What do I want from retirement? — I wrote about taking back control of my life. And that is the main aim of my retirement. I want to get control over what I do and when I do it.

Many of my retired friends say that it is impossible to get control as the days fill up when you retire. They claim they are busier now in retirement than when they had full-time jobs. Most of them express surprise that they managed to hold a full-time job and have a career.

So, I need a plan.

I don’t want my retirement filled with stuff I don’t want to do. I want to achieve things.

I need a plan so that my time is not frittered away. Hence, I have come up with an action plan. Well, it is not so much a plan as a realisation of the reality of retirement.

I can divide my plan into three parts.

There is the “me” part of the plan, the “must do it” part, and the “don’t have to do it, but I want to do it” part.

The “me” part

As the name suggests, the “me” part is all about me.

In the “me” part, I will be doing things to address my health, fitness, and weight. I will also be doing more of the things I enjoy doing and want to do more, such as walking and travelling. I want to explore and wander.

The “must do it” part

In the “must do it” part of the plan are the things that I must do.

I need to do some work on the house.

I need to declutter, decorate and repair.

And there is a lot of work and expense in that very short sentence.

It is ten years since the house was last decorated and I have boxes and boxes of things filling the garage from my previous property. It has been 15 years since some of the boxes were opened. I must sort through these things.

I guess the “must do it” is what my retired friends say fills their days.

The “don’t have to do it, but I want to do it”

This is an interesting part of the plan. These are things that I don’t have to do but want to do.

This part of the plan is being the scientist and educator I discussed last week in issue number -5: What do I want from retirement? I don’t have to continue being a scientist and an educator, but I want to. And I also think that in these areas, I can make a little extra cash through some side-hustles to boost my pension income.

Executing the plan

How do I execute such a plan? Do I allot specific days or times for each part? Do I set goals such as “I will have the lounge redecorated by the end of the month”? Do I have KPIs (if you don’t know what a KPI is, think yourself lucky)? Do I set milestones? Heaven forbid — do I produce a Gantt chart?

This might be tougher than I thought.

I could always wing it.

Reflections

In response to last week’s newsletter — Issue number -5: What do I want from retirement?— Judy Allen commented:

“For those who have invested heavily in their careers, retirement can be difficult. Many truly don't know who they are outside of their work. You express it well in saying that you'll still be a scientist and an educator and will find creative ways to pursue those callings. Retirement gives us a chance to develop the areas of our personalities, interests, and activities in ways that we just didn't have time for when we were spending 40+ hours every week working. Good for you! I watch with interest!”

And that got me thinking.

I am lucky; I am retiring from a job that I love. I have had a great career. I have travelled a lot, done good work (well, I think I have), met interesting people, and have enjoyed being a scientist and an educator. I have derived a lot of satisfaction from both roles, and I can continue to be a scientist and an educator when I retire. That will fill my time and will bring enjoyment. But what must it be like to retire from a job you hate or doesn’t define you?

I imagine that retiring from a job you hate or doesn’t fulfil you would be a great relief. But what will you take with you into retirement? How will you fill your days? What will you do? If you know, please leave a comment below and let me know.

Travel — Nostalgia Corner

My time working in Malaysia had come to an end, and these are my last few posts before I set off on my ‘world tour’ of Southeast Asia:

• Helsinki Airport (HEL), Finland — Christmas in July. This was just weird. I was flying from Helsinki Airport (HEL), Finland, to Malaysia, and they had Christmas in July.

• FinnAir (AY81): Helsinki to Singapore — FinnAir has no idea how to do business class. It was the worst business-class flight I have ever taken. Luckily, I wasn’t paying.

• Singapore — Sungei Buloh Wetland Reserve, Singapore — My last visit to the incredible Sungei Buloh Wetland Reserve, Singapore. What did I see? Was the crocodile back?

• Start of a ‘road trip’ through SE Asia and a bit of Australia — The start of my ‘world tour’ of South East Asia (and a bit of Australia). Where would I be going, and what would I be doing?

Next week, stories from my first stop on my ‘world tour’ of Southeast Asia — Langkawi, Malaysia.

Next week

Next week, in issue -4, I will return to the subject of side-hustles and examine recent changes to the tax situation in the UK that may impact them.

Thanks

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Until next time,

Nick

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