To be honest, Chi, I don't think you're ready for retirement yet. It's a mindset as much as it is a lifestyle change. If you're having second thoughts, you'll keep having second thoughts and not be able to enjoy your well-earned time to do what "you" want to do.
The problem I see with a lot of people is they've spent so much time "at work", even when they're not at work that they haven't developed things they like to do and would love to have more time to pursue - whether that's wood working, gardening, golfing, traveling, etc. - because they were either thinking about work when they weren't there or they felt guilty that they weren't at least planning for the next business day.
Since you're not in a position to be forced out at a certain age, you've got plenty of time to think about life after work. If you don't have any hobbies that really interest you, then try some new ones. Like you said, maybe cut down on a few projects if you can afford to and maybe do some traveling. You don't have to plan an around-the-world trip - just go visit a historical site or go to a concert in a different town and leave work behind without guilt for those few days. See if something resonates with you that you'd enjoy having more time to enjoy fuller.
THAT'S when you'll know you're ready for retirement.
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Originally Posted by ChiTown
I’ve been thinking about retirement a lot lately. It’s different when you work for yourself. You keep telling yourself that you can do this another year, or keep a few clients of whatever. I’m 57 and could have easily retired at 50 - so $$ is not the issue. It’s the what’s next. I’m not afraid of dying, but I am afraid of growing old.
Working keeps my brain active and inspires me to get out of bed and get moving. I’m wrestling with the idea of what will motivate me everyday going forward when work can no longer be the motivator. I think the answer might be to never fully retire, and to keep a client or two (or a project) for as long as my brain and body hold up. Lots to think about in the coming years. I have a project I’m committed to for the next 3 years that will require about 10-15 hours per week. My thought is to maybe just do that and nothing else and see if that satisfies my need to stay busy/relevant.  |