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My retirement experience

Article Number: 1
Date : Nov 25,2011

P1010095 300x257My retirement experience

Hello my name is Bob and I am just a regular guy who wants to retire. You think it’s easy?

I started this site more than a year ago to learn about how I was going to retire. I didn’t really have a clue other than I would just quit working. I figured I was going to make lists and notes in order to retire anyway so I thought I might as well build a website around it and share with other people who may want the same information. I did not really think it would be hard to do. I mean how hard is it to stop working? Just stop working, right? Wrong!

The first thing I have learned is retirement is not like a light switch: you are not in the rat race or part of the machine one day and living the life of leisure the next. Anyway I like to imagine my life is more complicated than that, so for me and people like me, I believe retirement is really a process. The process for me began with some common sense arithmetic like what do I have and what will I need? That was relatively easy. I have been making notes on that for the last several years. First I list what I have and then what I owe for a net worth and then I try to estimate what I will need when I retire. But the really hard part for me has been, ‘Ok, now what? What will I do in retirement?’ What will my life look like?

Let’s just give that a rest for a minute because like I said retirement is a process.

First let’s go back and see what do I have in terms of what I could/would want to sell off, and other income to allow Nee [my thai girlfriend for the last 15 yrs] and I to retire comfortably:

The reason I am listing the items below is because each comes with it’s own set of problems [and solutions] and it is not enough to say you have XX amount of money for retirement because of course it is not all liquid [not yet] and I would guess what I end up with will, I hope, be in the neighborhood but there are no guarantees.

  • I have a house that is paid for.
  • I have an export and packing business that is doing well and everything associated with it is paid for.
  • I have a large warehouse that is free and clear.

The first questions revolved around should we sell the house? First off, it is a very large house. We live in two or 3 rooms essentially, the bedroom, the kitchen and the outdoor area around the pool. I don’t really swim but, nee, my girlfriend does. The house is built around the pool so that is why I call it, another ‘room’. So we have decided to sell the house and downsize. Later we won’t live in it more than a few months a year so we figure someone else would get more out of it than us.

Next we were faced with, downsize to what? We looked at condos and houses in the area. Condos are about the right size and houses are too big but they are about the same price as a condo. Buy or rent? Let’s put that aside for a minute because that is what you do when racing toward a date in the near future. Hey, wait a minute. Life, all of life is supposed to be fun or an adventure or a learning experience or all of the above. This retirement planning seems to be worse harder than if I continue to work. It has become an ordeal. It is no fun at all and that is when I suddenly realized what I wanted to do in retirement. I want to buy a sailboat and spend at least half of my time on it sailing. Nee and I have chartered boats before out of southern Thailand and we enjoyed those times together.

So now after several months I have decided what I want to do in retirement. I believe that is what you do first… you decide first and then you figure out how to do that. Lot’s of people want to always figure out ‘the how’ first and then they never do it and as a result they don’t do much in life. Deciding really is the hard part and then the rest comes easy.

Next I found a boat. That is the easy part. Spending money is always the easy part. The boat is a nice older cruiser. To get insurance or to possibly finance some or all of the purchase price I want to look at it more closely and then of course it has to be surveyed. I don’t think I am going to get it insured unless an expert looks at it first.

I also think as with anything that is your passion if you do it all the time it becomes less exciting unless it is like desert after the meal, so for now at least I think I will keep working on my websites to hopefully generate enough income to cover daily expenses.

That’s it for today. I think I have decided enough. Next I will talk about how I get things done. Lists and timetables and goals.

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