Deciding to retire is a big step. One has to make sure there is enough money to live on and afford to do things one wants to do once they are not working. I have talked to retired people who do not know what to do with themselves and the extra time they have. It helps to figure out your priorities and passions and develop a plan.
When I was thinking about retiring (retired October 2015) my biggest reason was for my health but one cannot play sports and workout all the time and it does not fulfill some of the other aspects of one’s self worth. So I put down my priorities that I wanted to do when I retired. For me the financial part was included because researching companies and do it myself investing had become a favorite pastime.
Here was my activity plan in priority order:
1. Health and fitness
- Have elbow surgery
- Swim 5 days a week
- Weight train 5 times a week
- Diet tracking – goal under 190 lbs
- Get lots of rest – do not burn out
- Keep apartment clean
2. Manage investments
- investment money is travel/recreation money like vacations/skiing/tennis
- look at ways to educate yourself
- look at ways to help others – website/blog
Do it yourself Investing Website and Blog
- Have started writing it
- Write on gurufocus and seeking alpha
- sell finviz, gurufocus, memberships
- Sell Amazon Books
- Google Adsense
Recreation Website is rebuilt
- Need to get the traffic back to 5,000 / month
- sell advertising and use affiliates to sell items
- if investing is good take long trips in winter, if not short all inclusives
- Start retirement with unwind trip
5. Practice Guitar
6. Additional possible Work if I want
- kayak guiding, tennis drills, consulting
Quite simple but great to check on to make sure I am on track. So far priorities 1 to 4 are underway and going well and it is keeping my days busy.
I have dropped 13 to 15 pounds but have another 13 to 15 to reach my target. The elbow surgery was on December 15th and I am doing all of the activities in the health and fitness priority. Investing is going great and the websites are in progress. I started my retirement with a month in Key West.
Are your thinking of retiring or have retired, did you have a plan? Please share with comments below.
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