7 Surprising Facts I've Learned About Retirement

Retirement isn't always a sunny walk in the park. While I have no regrets that I retired in my 50s, it hasn't been without its challenges. Here are 7 lessons learned after four years of retirement.

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#retirement #challenges #robberger

ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.

LET'S CONNECT

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

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[darrellq]

My hobbies are watching YouTube videos about retirement 🎉🎉🎉

[jeanlucbergeron]

Also 4 years into retirement from a surgical practice...I lived through the same 7 facts, they are real...Being a "young" retiree like Rob, my wife / children / friends are still at work. So I decided to do 3 type of activity during daytime; 2 hrs of studying ( finances, engineering, spanish etc ), 2 hrs of exercices ( mountain hiking with my dogs ), and 2 hrs for expressing an art form ( playing music for ex ). I prioritize taking care of others, seeing friends during evenings and week-ends. Life is great :)

[scottarmstrong]

The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

[kinpatu]

I think the hardest part for me is going to be switching from accumulation to decumulation. Seems like a big psychological hurdle.

[Richardcarlett]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[MrMike-zmex]

Number one issue in retirement is loneliness.

I’m a retired firefighter, 5 members of our department committed suicide the past 10 years. The common denominator was loneliness, mixed with alcohol, a deadly combination.

Money was not an issue, they were all very well off financially. Concentrate on keeping social connections. Over 55 communities are one option. Residents take care of each other and have many activities.

I have worked in many affluent communities. Their retirement years were very sad from what I observed. The larger the mansion, the higher the level of isolation.

[edwardpate]

Just recently retired and I absolutely do not miss the stress, conference calls at all hours of the night and weekends and nonstop corporate BS! It's like being set free from prison.

[StevenBanks]

1- hobbies are not enough
2-hobbies are not enough unless you enjoy them all the time; perhaps introduce a social component involving other people. (See -6)
3-you were thrifty to get to where you are… now learn to spend and enjoy it!
4-analyze last year: see if you did well and adjust by looking backward. Don’t get wedded to some plan.
5-you get busier. It can actually be stressful. Remember to slow down if you are making yourself unhappy.
6-keep your friends. Don’t lose track.
7-if you have a new goal, don’t concentrate on reaching the end point, instead, enjoy the process, the journey.

[joekuhnlovesretirement]

Love adding the emotional and personal side of retirement. You’re the master

[oceansunsetak]

We got a puppy a month ago as a solution to bordom and loneliness in retirement. Never a dull moment lol

[BoxOfRain]

Volunteering can be both rewarding and can keep you engaged with others and build friendships.

[johndherman]

I retired early at 56, and then moved into related teaching and writing, while also helping my wife care for 2 grandkids weekdays for 9 years (the reason for the early retirement). I'm now in a new phase, looking for how I might be able to make a difference in some other ways. I've just begun to watch your videos and find them very helpful! I affirm this phase in your life, and with many other people I appreciate your willingness to share not only your financial perspectives, but also your life perspectives. Thanks!

[michaelwillkomm]

This is the first comment I have ever left anyone on Youtube. First of all - thank you Rob. Thank you for sharing your gifts with all of us. Your videos have given me just enough of a push to my confidence that I can do this largely on my own. Secondly - I'm 56 and about to sell a large part of my business. Thinking about how my days are going to be different is both exciting and scary. Thank you for giving me some solid advice facing this next chapter of my life. God bless you Rob.

[moosesmart]

After one year of retirement I realized that I don’t need to be in a constant rush - especially when I’m driving to go someplace. It was almost a given that I needed to be driving at least 5 mph over the speed limit. Now after one year into retirement I just get in the slower lane and relax.

[tjrossi]

Thanks Rob ! Retired a year ago @54yo, . Similar experiences.I've found myself almost living in isolation. Appreciate all your vids.

[susanharkema]

THANK YOU, Rob, for your personal, shared wisdom. Having watched you for a number of years on YT and your Q&A sessions, hearing your personal reflections is GOLD for us.

[bballboba]

After saving for retirement for over 45 years I too have a hard time with the spending side. I found that if I have the mindset I’m spending my children’s inheritance money, not mine, it’s a lot easier to enjoy the spending … haha 😂

[jamesjacobs]

Rob, This was brilliant. I spent the last year thinking about retirement. I retired 3 months ago after 45 years as a physician. I think you are spot on. The Wall Street Journal recently highlighted a book, "Lonely At the Top" by Dr. Thomas Joiner. It describes how retirement is often very different for men than it is for women. Namely, men - much more than women - need to be newly proactive in rediscovering and nurturing their friendships with other men. Whereas most women have maintained their friendships through the years so their retirement is more naturally filled with camaraderie and good times. And it is often the degree of social interaction with others that really determines how happy we are.

[helgashighway]

I love #4, using the 4% rule as a sanity check. I'm planning for retirement within the next two years, and I've built the GoGo, SloGo, NoGo phases of life into this plan. I want to get the most out of life before my desires whittle down to watching the Weather Channel. If I can withdraw 5-6% during GoGo, 3-4% during SloGo, and 2-3% for NoGo, the rest can be used for End-of-Life care. Thanks for all your insight!

[ld]

Hi Rob. I'm 13 years into my retirement journey that started when I was 62. I experienced all the areas you discussed and one in particular, #5 had me laughing out loud as you discussed it. That is exactly my experience and many times I can recall telling my family or friends I can't believe how I was able to get all of my usual things done, when I had the inconvenience of working full time 🙃. Your days do indeed get filled and busy. As to other points, for me I feel there is a difference between my hobbies and things I am passionate about. Maybe it's just me, but I do have activities or hobbies that I am very passionate about. One is life long learning, another is automotive related performance, repair, classic car restoration and building cars. My son shares the same passion and we do a lot of work together and at times share projects. I appreciate your channel and always look forward to your new content. Thanks for all you are doing Rob; I truly appreciate you sharing your knowledge and insights. Larry, Central Valley, Ca.