Your First Year of Retirement: 5 Things to Expect

New retirees are often surprised at their lives after they step away from work. Here are 5 things to expect in your first year of retirement.

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--- About Patrick King CFP® ---
Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football.

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[ranep]

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.

[AntonioBianh]

Retiring from public services made me realize that I had no means to passive income and in 5 years I only moved around in circles financially, I needed to make investments immediately desperate retirement and that led me to this looking for ways out. I feel very accomplished every time I remember my journey and how I have been able to grow my Investment to a return of over 200% in less than 6 months. Mind-blowing experience really.

[antonnohr]

I'm nearing retirement in three years, and despite having solid companies in my portfolio, my profits have stagnated in this uncertain market. Are there any calculated profit opportunities in this recession?

[AvaAdams-lyvu]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

[kortyEdna]

Thank you. Just what I needed to watch. My hubby and I are directors of our farm business and own property, plus small pensions. I am nearly 52, hubby is 55. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.

[thedieiscast]

A good friend told me as my retirement grew near " it will take time to adjust to this new part of your life" And true to his word it took about 4 hours on my first retirement day.

[marissamatty]

Retirement is wonderful if you have two essentials - much to live on and much to live for. Invest wisely and get good returns.

[guiadavid]

Recessions are where millionaires are created, I feel for the older generation, but if you are you or middle age, you should do everything possible to double or triple your income.

[raaus]

I just started my 4th year of retirement, having retired at 55, and I'm still in vacation mode, absolutely love it.

[GoranIsmov]

My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[jamesharrison]

I was an Army Officer for 20+ years and each one of these five things had special significance in my retired life; Especially the social ones dealing with Identity etc. I woke at about 073...7:30 am the first day of retirement. The kids had gone to school and my wife had gone to her work. I realized that as a retired Lieutenant Colonel, experienced in operations involving hundreds of men, hundreds of pieces of equipment and millions of dollars in resources such as fuel, food and ammunition, I had absolutely nothing to do and nowhere to be for the first time in decades. So, I cleaned the house, went for a walk, went to the grocery store and then looked for a civilian job.

[alansach]

I retired at 50 and never looked back. My worst day in retirement is better than my best day working. Never had any of these problems. Some people live to work. I worked to live, hating every minute of it, and now that I don't have to it's great! Almost 70 now. It is so nice not having to answer to anyone (or care how I am "perceived by others"), and to wake up (whenever I darn please) knowing I can do, or not do, whatever I want! That novelty has never worn off! And BTW, who spends "every waking minute " with their significant other? I have my interests and she has hers. We also have mutual interests that we do together.

[Erikkurilla]

Retirement is wonderful if you have two essentials — much to live on and much to live for. Invest wisely and get good returns.

[DMUSA]

I had no problem retiring. It’s like I turned a page in a book. Never looked back.

[davidmagen]

I am 65 years old and retired at 60 1/2.. my spouse retired at 62 and we couldn’t be happier. I was a modest wage earner and often worked a second job. Yup I miss the people I worked with. However we bought a new larger house and we couldn’t be happier. After staying in the house for the last year and a half. Finally we took our first of many vacation we hope to take. The future is guaranteed to no one and a shroud has no pockets. Nope you can’t take it with you so enjoy your new life style🌞

[pnkbiankii]

During my first year of retirement (at 66) I made a 9-month, solo, self-supported bicycle tour throughout the US. Inexpensive and very effective way to “window shop” for a new, less expensive retirement locale. Chose my new community, moved within 6 months of completing my tour. No money worries (reduced my living expenses by 70%), have made wonderful new friends, bought a house, spend time traveling to visit friends and family. Have been delightfully happy ever since, with no transition concerns.

[williamjeffreys]

Coming up on the end of my first year of retirement. Took me 6 months to calm down from the PTSD from my job. Sorry, but it still feels like a vacation. Doing what interests me without constant interruption is heaven on earth, as I still feel there is not enough time in the day to do everything that needs to be done.

[bagobeans]

Please don't assume everyone who has retired is married. Many are single and going it alone.
Please don't assume all work environments was rich and rewarding. Many work environments can be nerve-wracking and dehumanizing.

[mistermatsuda]

Here's the 5 things I expect: 1) Not having to drive in stupid traffic to go to work, 2) Not having to do any work, 3) Ability to take part in my many hobbies, 4) Having the freedom to take trips at any time and 5) Hanging out with friends not worrying about what time it is because I have to work the next day.

[BSGSV]

The more retirement advice I hear, the more I realize such advice is geared toward normal, well adjusted people, not abused people like me who spent their working lives in anxiety while striving to amass fortunes to protect themselves from other people and their opinions about who am and what I am worth. Three years into retirement, it still feels like a luxurious vacation from stress, deadlines, obligations, demands, negative opinions, lack of respect, lack of recognition, and lack of reward. I now own 100% of my time. I value being away from people. I am proud of using my skills to build wealth for ME instead of a company run by assholes. I value the friends I DECIDED to keep and don't regret the ones I didn't.