Retirement - how was it really for you?

[NDerbys32]

Hi folks,

Retired here and working in the mental health field. I retired 10 years ago, and other than giving a financially based 'course', my employer did little else to prepare us for it. I had some plans, some happened, some didn't but I know many struggle with the change of lifestyle outside work.

I'm doing some research around retirement, the planning for and effects of it, so
may I ask any pitfalls you have experienced, how has it really been for you and, with the benefit of hindsight, what could you or your previous employer have done to make the transition easier to manage?

TIA!

Watching with interest!

I also am 10 years in (went on an early retirement package) and had a 2day pre retirement course.

I found the pre sessions were self evident TBH. Do this, don't do that, get finances sorted,make a will, get LPA, do hobbies, travel, keep socially and physically active and so on.

I firmly believe that the experience of retirement very much depends on your personality type and financial circs. Some are happy to potter around or be indolent. Some must be doing something all the time to fill the working void.

I just went with what I felt was ok for me and ignored all the instructions to volunteer, get new hobbies and fill every day. FGS I retired to get away from pressure, structure, and constant interaction. I tend towards introversion though and I'm never bored, even in my own company!

I just do my own thing, travel a bit, read in peace, research topics I'm interested in, get outside the house for movement every day. You get the picture.

Retirement for me is the freedom to do anything or nothing, and there's no price on that.

Retired just over a year ago and although enjoying it, have had to do a bit of part time work thanks to soaring cost of living and interest rates since I retired! I have extra time to fill but less funds so it helps pay for trips and treats. I wish I had done a bit of training for a side hustle type job whilst still employed as I'm finding many employers want a lot more commitment in terms of hours than I want to give up.

Oh, and the most important one, wish I'd given more thought to local groups and activities locally before we moved house as whilst I was working I didn't realise how little there was to do around here and I'm spending lot of time in the car!

I would have liked my organisation to recognise that there is a difference between retiring and leaving the organisation. Although my immediate boss gave me a bouquet, a nice speech and then telephoned me on my last day (we did not work in the same location) there was no acknowledgment from anyone else at all. Obviously I was not expecting a gold watch or anything like that but some sort of letter of appreciation would have been nice. (Sales role and I had clear records showing I had done a very good job). Also I was asked to complete a "leavers questionnaire" which didn't seem to recognise retirement .. ie; lots of questions about 'how could we have made things better for you to stay etc" ... I tried to fill it in accuracy but there wasn't the appropriate space to fill in my answers so I gave up. When I pointed this up in a follow up email it was ignored.

I also had a question about final pay, tax paperwork etc which was dealt with in a totally patronising and condescending manner.

In terms of my own preparation I felt I have done as much as I could (on my own initiative) fully planned financial arrangements so no hardship there and had lined up a volunteer role using my existing skills and made lots of plans to see friends etc. Ironically the job I retired from relies heavily on volunteers so it might have been a good idea for the Head Office to keep in touch and at least ask the question as to whether I would consider volunteering in the future ....

Be prepared for the best laid plans to "gang awry."

Shortly after retiring my late OH was diagnosed with Parkin sins. Nothing prepares you for all that this entailed.

Before retirement I observed that a lot of friends in long term employment were suddenly made redundant - in all professions and walks of life. I watched from the sidelines as their lives were overturned, lives as they knew them changed immediately, and they had no say in either the timeline or process. Their worlds just stopped suddenly in a moment.

Eventually it happened to me. I would say to people, you might think that you will be the decision maker, you will have everything planned out to your own timeline - but be aware that it might not work out that way.

I would say there is huge merit after redundancy in becoming self-employed, doing something local in the area that you live, something that you love, a step down but something that makes you happy.

Initially retirement was frantic (self imposed discipline) so every hour had to count….9 a.m. grass cutting / 10 a.m. floors indoors / 11 a.m. computer/admin work / 12 noon…on and on. It took a year to relax and let that routine slip a little…and stop for a coffee. (Being ex-military probably didn’t help!). When I look back now it seems ridiculous.

Further into retirement and after some personal issues, I decided to give myself “a year of living dangerously” doing anything and everything connected with travel, extended it to 2 years and it’s now extended to 10 years and counting.

Very much aware that we retire, but despite being fit, there is only a limited window of time when we can physically continue adventurous sports and travel. It would be a travesty to save hard to travel in old age - only to find that physically you aren’t able to do it.

Each time a group of our friends arrive in a European destination, there is news that another friend has been lost…

Sadly for me Covid really impacted me.

I had plans in place to retire but I had 2-3 weeks to go and due to lockdown I got a text saying x cancelled. I realised that meant I was retired that day.

All the plans I had for my first 100 days (helpful retirement course) went out the window. Most of the groups or activities I planned to join stopped and never restarted. I also feel I have been left with not quite agoraphobia but I lost the desire/drive to go out and about each day as staying in feels normal - if you know what I mean.

My large corporate employer did nothing when I took retirement on redundancy other than draw up the settlement agreement. Not so much as an exit interview.

Everything about retirement has gone swimmingly.

my pension is with a larger municipal pension group (nurses, firefighters, city etc.)
the group offered annual two day seminars. It was recommended to attend these at least 3 times, near the end of your career.
I attended 5, over the last 7 or so years of work and attended with my dh, we took notes…
the drop in income was our biggest concern BUT it didn’t prove a major issue.
my dh’s international co. offered nothing but the final 1-1 with the hr person was excellent though not ideal if you struggle with on the spot decision making.

I’ve been working almost 44 years. I asked my employer to go on a one day retirement planning course last month. I was refused and suggested I attend a two hour internal course focusing on pensions. I won’t write what I think of them, but I expect you can guess.

I am nearly 5 years in and no regrets. Retired shortly before my 58th birthday on a voluntary early exit package. The decision to take the package was made easier by the fact my role was disappearing due to restructuring, so not taking it would not have been a case of just carrying on as I was. The transition was not difficult at all. DH and I have done loads of travel. Although he is 11 years older than me he is still full of enthusiasm for it.

I am retired and had a one day financial planning course but nothing else from my employer. My employer could have helped a lot by allowing me to go part-time and transition towards retirement, which I requested, but was refused. This was the NHS.
It was an enormous relief to retire as I was stressed and exhausted and mostly slept the first couple of months. Most of my physical ailments improved. As the retirement age increases, I'm sure more people will feel like this.
I love being retired and have done lots of things I did not have the time or energy for when working.

I "retired" in August 2021 aged 61.
By "retired" I mean I finished work. I was waiting for a knee replacement and suffered terribly with the pain and am severely sight impaired as well. Both DC had left home and I was in a position where I could downsize, move closer to my adult DC and use the equity from my house sale to supplement a small NHS pension and disability benefits until I receive my state pension in 2027 (assuming I live that long).
I had my knee surgery in May 2022 and after recovering considered if I wanted to try to find a part time job. I missed the regularity and sociability of part time work but decided against it.
Instead I started volunteering for a charity. I enjoy travelling in the UK and going to lots of music gigs in various parts of the country. I enjoy having time to help out and visit my DC. No regrets about finishing work at all. I didn't go on any pre retirement courses as I wasn't technically retiring. I did do a lot of research into coping financially though and took advice from a financial advisor.

Why on earth would an employer be responsible for your retirement?

It's literally not their business. Organise your own retirement. If you can't, carry on working as you clearly need the structure.

I've been "retired" since I was about 35, it's a longstanding family joke. But I never knew there was such an issue about it until coming on here.

I read a book called "Retire free and happy" on my honeymoon. Basically you need structure, purpose and community. However that looks for you.