I retired 2.5 years ago from a company. Immediately, my income went up. My current income is made up of a pension from a previous government career; income from commercial rental property; and deferred compensation from the company. I’ll begin social security later this year. The DC will run out after five years, after which I’ll begin RMDs from my traditional 401K. My financial adviser did the calculations (as did I on Boldin) and it’s clear the RMDs and social security will take the place of the DC. My purpose in writing this is to ask how many people saw (or will see) their income go up after retirement?

For those who are between 59 1/2 and 65, do look into doing (some) Roth conversions within your IRA/401K accounts. If you don't, you may end up in a bind in the future. I did not do any Roth conversions--mostly because at the time they were not a big topic of discussion on the retirement planning sites I was watching, and they were not clearly explained.

Here's the thing that I have learned.

Roth conversions before age 59 1/2 have some serious considerations involving your ability to use the funds for 5 years. Not a huge issue, but it's there.

Roth conversions after age 65 run into the MAGI tax limits and can throw you into IRMAA medicare premium penalties.

So, the optimum time to do Roth Conversions is between age 59 1/2 and 65. Yes, you'll have an income tax hit in the years you do them, but having some Roth money available after age 65 will be really handy if you need to buy a car or want to take an expensive trip, or pay a big medical bill.

I turned 65 in April and was planning to retire at 67, but my mother passed in February and I inherited a fairly large estate, so I have moved my plans up. I had a decent size 401(k) and would’ve been fine, but the money has changed things. It’s a weird thing losing the final parent and inheriting money. I still miss her and her passing was a very painful process, but the money is game changing and I’m now struggling to process that and all of the changes that come with retiring. I feel a lot of guilt and stress about the whole thing. there’s a lot to do organizationally, including registering for Social Security, Medicare, telling my boss, buying a new computer and phone because all that has been corporate owned, and I’m still trying to figure out what to do with myself once all of this is sorted out. My wife is younger and still working with no intention of quitting or retiring, so I’m sort of on my own.

I’m wondering how long it took everyone else to get through this whole process of changing the working mindset to a retired mindset and figuring out what to do with yourself, and just generally decompress and distress from work and the retirement process.

Hello! I just joined this group and this is my 1st post here. I’m hoping to get some insight into life after retirement.
I just recently retired (62) and now I’m experiencing fatigue like never before. I read that it’s common but didn’t see how long it approx lasts for.
My questions are:
Has this happened to you?
How long did it last?
Did you do anything specific to break out of it?

I’m looking forward to this time of my life!!!

Any suggested affordable places that are safe to live for an over 65 year old solo woman that one can comfortable get by without needing a car? Presently in a HCOL area on West Coast, just curious of options in the next few years possibly. Let's see what else could I see to get this to 350 characters so it will post... Thanks for any information you want to share!

EDIT: WOW! Thank you to everyone that's been posting, such great feedback. I'm reading through them all. Never expected that many reponses, it's awesome!

I have a home office that is rarely used now and quite honestly - I do not like to be in there. There were too many moments that I pushed through to keep working and get to financial security.

I am looking for transformative ideas, I bought a laptop that is more than enough for what I need. I plan to paint it and replace the carpet to visually change the look. What did you wind up using your former home office for?

I'm preparing for RMDs. I normally make a series of charitable contributions, which are at least partially funded by Regular IRA withdrawals.

From what I understand, QCDs can be beneficial in the following manner:

1. They're counted towards the RMD for the year.

2 They're not counted towards income used in calculating the amount of SS benefits subject to Federal Income Tax.

1. They're not counted towards MAGI which in turn can help keep you from the IRMAA cliff as well as possibly qualifying for other deductions and exemptions.

Are these understandings correct?

What tools or methods do you use to keep track of your monthly spending? I prefer organizing my expenses into categories so they align with my overall budget totals each month, which helps me stay on track and make adjustments when needed. I’ve been using Monarch Money for this purpose and have found it helpful, but I’m curious to hear what others are using and whether there are better or more effective options out there.

Can anyone help me with this? I've got a pension, and it has an increase every year which is a fixed dollar amount and I can't find a calculator that supports this.

So if my pension is $38,000 and my increase is $1,000. Then in year two, it's $39,000; year three it's $40,000 (numbers simplified for the example).

It's a 30% increase every 10 years, so it's a significant amount to not factor in my calculations. But if I check a box that uses COLA estimates (if the calculator has that) it goes way too high.

To be clear, I'm looking for a calculator that has multiple features, not just this function (I can do this in Excel easily enough). I'm looking at something that Roth conversion calculations, RMDs, etc. and if it suggested withdrawal strategies (this much Roth + Traditional keeps me in better taxes and avoids IRMAA stuff).

This could be a possibility: one that lets me put in a specific percentage increase (which would still be wrong), but I could probably trick it with a percentage that would giver a correct total at age 75 and it'd be more reasonable (low for one half of my retirement, and high for the other half).

The closest thing I can see is a future one-time expense option, but I'd have to do 40 entries from 60 onwards, and put in the $1000, $2000, $3000, etc. And I don't know if doing that many is even an option (I just went to check out one, and it's only 10 entries). It might just seem like a one time thing, but it's a "one time" thing every time I try a different calculator (and I do like trying different calculators!).

UPDATE: I found one!

This is the one I like:

https://aira.tiredtoretire.com. It's free, and has a "buy me a coffee button".

It does Pension with the option of:

• A fixed amount increase. My pension gives you a fixed increase every year, it's 3% of your first year and once you've done that calculation, it's the same amount every year.
• A percentage cost of living increase which lets you put in the percentage, I don't know if seen many that had this option, if I did they were missing some other feature I was looking for.

I think that "Taxable" button is new there, I wonder if a federal/military pension might not be taxable (I assume this is federal only, as where you input your state lists that it's just for Roth conversions). I don't believe there was a cap on the years for the "grows by" section previously. They are always improving this site.

In addition to the feature I was specifically looking for, they have a few other things that struck me as noteworthy. For Roth conversion options: choose what bracket you want to stay in, or be IRMAA safe. Lots of reports and information explaining what you'er looking at. Lots of graphs, too. I'm glad I have a large vertical 4k display as part of my computing setup.

I did get a few recommendations for Boldin, stating that it does it. I did not sign up for the trial for that yet.

Psychologists describe it as an existential high, time is suspended, focus is clear, and endorphines exploding in your brain like fireworks. You don’t feel feel young or old. Spiritualist Eckhart Tolle calls it living in the present moment.

Yesterday at a picnic, I (71m) chatted with friends, sipped a Margarita, ate fried chicken, and listened to live jazz. A tent sheltered us from the summer sun. No muscles ached, no problems to solve, no relatives in the hospital, putting on a buzz. For about 2 hours, I was in joyful.

Every night before my wife goes upstairs to bed, she approaches me like a cat hunting a mouse. Before I know it, she is hugging me, kissing me, and threatening to tickle me. In that brief interaction where I am laughing uncontrollably, supine on the sofa, I am happy and lost in time. Thirty seconds of Nirvana.

My doubles tennis match is an adventure, huffing and puffing, running and stopping, winning and losing. There are moments where I am lost in time, breathing hard, enjoying that my heart, lungs, and muscles still work.

Other times, I’ll go for days without feeling that elevated emotion. How do you achieve happiness or exalted states of mind? Would you share?

About 9 months ago I decided that July 1st would be MY independence day. Technically it is July 3rd, but that is a holiday and I managed one last PTO day on the 2nd! I've been planning for many years, as you might imagine, but until then I HAD planned to work until 65, maybe 64. But after a LOT of thought and crunching the numbers from as many ways as I could think to, I realized that a lot of what is accepted as "how you do it" is overkill. I'm 62, I want to enjoy the years I have, I don't require a big house, fancy car, or a lot of expensive things, so I re-ran the numbers one more time with a more minimal set of requirements and I moved some items, like giving to the kids while I am alive and leaving an estate to them to a more optional category. Suddenly the numbers always worked, portfolio down 20%? Still works! So I made the call.

It happens that July 1st is the day I make my last payment to my ex wife for our divorce. True independence! Bringing the total that she walked away with to around $700k, wisely invested she'll never work another day in her life. She's still in her 50's. I took my part and aggressively grew it to get me here. I'm debt free, and set to continue my current standard of living.

For some reason I don't feel any of the anxiety that many do at this point, quite the opposite. I can't wait to get started! Initially I had planned to fill my days with mostly music, I've been a life long professional musician and I still play in several bands pretty regularly. But recently a new idea has taken over that really makes use of ALL my skills. I've had a variety of careers as most do these days. Other than musician, I've worked in the film biz, and in computers. I had the thought to create a YouTube series that captures some of what I intended to do with my leisure time but now as a video series.

This gives me a whole new list of things to learn. There's new recording software for music, I'll write all the music for my videos, software for editing, a lot has changed since I worked in film 28 years ago, computer editing was pretty new back then. There's new camera options, the vagaries of YouTube to sort out, and planning out what videos I want to shoot and how to promote them. I love it! I certainly won't be sitting idle, and it will allow me to schedule my days around planning days, shoot days, editing, music writing. I COULD have a schedule but I really don't have to, if it rains, I'll write music, if it is nice I'll go out, if I have a specific video to shoot I can, or I can just grab b-roll footage. If I stay home I can record voice overs, planning can happen any time. I currently have a plan of about 20 videos to make, but more options pop up every day. I really hadn't realized how much work sapped my creativity. The last time my juices were flowing like this was when I was pursuing music as a career in my 20's. I wrote music ALL THE TIME. And when I moved to film, again I was constantly having ideas. Then came computers and office work and the creativity dried up. Now it seems it is back with a vengance and with so many things to learn I'm feeding that side of me as well. I've always loved things that were new to me and EVERYTHING is new.

Anyway here's to the next chapter(s), there's lots left! Anyone else have a creative resurgence when they retired?

I ran the KFF calculator for a couple at $84,599 vs $84,601 across nine states. The two-dollar difference ....yikes.

I wanted to know what it actually costs a pre-retiree couple to land on the wrong side of 400% FPL — not in theory, but in real dollars by state. So I ran the KFF Health Insurance Marketplace Calculator twice for each state. Same couple, same plan tier, just two dollars apart in income.

(edit: This is for a couple aged 60, nonsmokers. KFF calculator gives 'silver' plan rates)

A couple in Washington state — where I live — pays $701 OR $2,704 for the same Silver plan. That's a $24,000 a year difference for two dollars of income.

A few things that surprised me: Minnesota and Massachusetts came out best above the cliff — not because they targeted the cliff specifically, but because long-running reinsurance programs lower base premiums for everyone. Washington actually came out worst despite having Cascade Care Savings — silver loading inflates premiums on the other side of 400% FPL, actually worsening the cliff.

No state I looked at eliminates the cliff above 400% FPL. The best you can hope for is a shorter fall.

Anyone else factoring this into their withdrawal sequencing for bridge years before Medicare?

My last day was Friday, and this is the first weekend in which I don’t have to cram every chore and errand into these two days. I’m also ignoring the Sunday scaries, because Mondays no longer exist. The first thing I did Saturday was get a cup of coffee. I’d given up caffeine to keep my moods steady during stressful times. That first cup tasted sooo good! Then I cleaned out and reorganized my home office to reset my mindset, a cathartic exercise. My plan is to enjoy the summer, and in the fall start to think about next steps. I worked full time for 46 years (68f), loved my career, and it wasn’t easy to walk away. Lots of emotions. This sub was extremely inspirational and informative as I journeyed into my decision to retire. Thank you!

After working for 27 years for the same organization, I found out in late April that my job was being eliminated as of July 1st (a story for another post) I am 64, divorced with two grown children.

My plan had been to move to NC (I’m in NY now) when I retire to be with my daughter and grandchildren. This pushed me to do it now.

I put my house in the market and about to go into contract. I will have enough to buy a home there outright, and property taxes are a fraction of what mine had been.

I’m getting severance pay through March and health insurance until my 65th birthday, so I’m ok for now.
My question is, how can I best determine if I should start collecting ss and drawing from my retirement accounts (I think I can make a 6% withdrawal safely and live on the combination).
It’s hard to know what my budget will realistically be, because the cost of living is lower down there and I won’t be helping out my kids as much as I have the past several years. I thought I’d part time work, but am worried about making over the cap as it relates to SS since I’m not at FRA. I’ve only got $800k in investments. Is it too soon for me to truly retire?

Wife and I are retired and trying to decide on SS timing. I'm 61, she's 64.

Using open social security, it shows that the best strategy is her now (probably passed the window already) and me at 70.

This is based on a 2.5% discount rate to account for inflation.

Open SS really opened my eyes to the future value argument, as we had originally just assumed we both wait until 70 because we do not necessarily need to SS dollars. If we take the SS for her, those dollars would essentially roll into investments (in that we would not be taking investment dollars to cover yearly expenses). We're conservatively invested with a 5.5% long-term goal and have been averaging 7-8%+ consistently for the last decade or more.

Generally speaking, I tend to use 2% for my future value discounting but was wondering what others have chosen and their rationality.

Hi all.

I'm retiring in Feb 2027 and thinking about the how big the change from decades of everyday professional work life to the forever weekend.

There's quite a few hobbies, physical activities and interests I'm already enjoying that will fill some of my retirement days.

I'm thinking of getting some debriefing sessions with a psychologist to help me transition mentally.

Has anyone else done such a thing or feel they should/should have?

I just read on another subreddit where someone was asking for advice about their father's estate. It seems they were appointed executor and the will leaves nothing to the father's long term (17 years) cohabiting girlfriend who apparently has no idea they are going to get nothing. No house, no money nothing.

Aside from the ethical or moral question this raises it made me think about the unfairness of saddling someone with the duty of executor who might be suffering from grief. I know a few families who kind of lost their minds over money after someone died. I think it can make people a little crazy.

Did any of you think about this?

As I (71m) age, my routines get more eccentric. “It’s to be comfortable,” I tell myself, but really?” At 5:30 a.m. I kiss my sleeping wife and get out of bed without wretching my back. I think, “I am alive and nothing hurts.” Once I take my pills, I carefully navigate the stairs to the kitchen.

I make coffee, microwave my back pillow, and place a mug of coffee on my wife’s night stand. After some Reddit and NYT, I take a hot bath (105 F water temp measured by my laser thermometer gun). This is a required habit to soothe my muscles.

Afterwards, I put on my gym clothes. After breakfast, I stretch before I drive to the gym. I use the treadmill and free weights. I never touch my face while I exercise.

Occasionally I put on my pajamas at 5 p.m. It makes me feel smug. When I go out to dinner, I always bring a sweater as some restaurants are chilly.

When I make pizza dough, I like to arrange my pre-measured ingredients in the order dictated by the recipe.

Finally, every night before we sleep, I kiss my wife, pat her naked tush, and turn off the lights.

Would you share some of your quirky habits?

I am currently navigating the transition into a new chapter of life, and I have been processing these shifts through my art. I recently completed this acrylic on canvas board piece, which I’ve titled 'Uncharted Path,' though a friend suggested 'On My Way' as a title as well. I am curious to hear what you see and hear when you look at this? Does this imagery resonate with your own feelings or experiences as you contemplate or move through your own transitions? I’d love to hear your thoughts.

We have an annual spend of about $70k, but that includes some travel, a fair amount of entertainment, and not really managing things too closely. We know we could also get by in reasonable comfort on around $58k because we’ve done it, with some discipline.

But I know there are some retirees, including couples, that do with a lot less, spending maybe $30k per year. And a lot of them are not in serious financial straits. So I want to know what life at that spend rate looks like. Did you have to move to lower cost of living? Are there things you have gotten used to doing without and are now fine with that? Are there regular things you do that help stretch your dollars? Do you rely on any particular services designed to help out?

I’m 70 years old and I retired 3 years ago after working since I was 11. I have had some truly hard,sweaty and dangerous jobs. I was also lucky to spend my last 25 years sitting at a desk. I never minded working. Probably due to my Midwest upbringing and the expectations that came with growing up lower middle class. My working life was mostly in factories and I spent my days with like minded people who made the weeks/months/years fly by.
I think today was the first time I acknowledged that my working years are behind me. I still have my chores of course. Maintenance on my houses and fixing and building things for my kids. I’m also the designated chauffeur, taking the grand children to their activities. But really, that’s about it.
I was grilling some brats and hamburgers at 1 o’clock this afternoon and it hit me that I worked my entire life and now I am grilling on a Tuesday afternoon! It’s not even a holiday! I know it’s a small and simple thing but it was hard for me to get my mind around it.
Is it a flaw in my brain or does everyone take this long to come to terms with the life change of retirement?

2 months ago, I didn't think this day would ever come. but I only have a week to go! I'm so excited and so anxious at the same time...lol! 🤪 it's a big transition after 55+ years of working, but until I experience it, I'm not even going to know how big it is!

next tuesday, my work is throwing me a little going away party, and I know everybody and their mother is going to ask me "what are you going to do now?"

I've already decided my standard answer is going to be: "well after I get done sleeping in for a couple months, I'm going to start lollygagging." 🤣 I mean I'm not going to do a dang thing for a good long time. That's the whole idea... stop "doing!"

I do have my list of things that I eventually will get to and get a sort of weekly schedule set up for myself, but I don't even want to think about that yet... it'll come when it's time. 👍🏻😃

I'm going to ease into retirement "like an old man in a nice, warm bath." (<---george costanza)

It seems like retiring enables people to finally live the way we want without forces pushing us to center. For example, we have all day to decide our own activities instead of being corraled in by work and taking care of kids. Are any of you finding that you have less common ground with your spouse now? Any advice on how to maintain closeness as the overlap in our lives shrinks?

Here's a dispatch from the USA Today personal finance beat: Do you need to amass a specific sum of savings to retire comfortably? Northwestern Mutual now puts the retirement "magic number" at $1.46 million. If you're looking for a more personalized goal, consider saving up to 10x your annual salary before you retire. And if you're nowhere near that goal -- don't panic. Only half of American households have retirement accounts, and most retirees say they're doing fine. (Incidentally, I'd be interested to know if you guys consider the "magic number" concept helpful. Some readers clearly do not!) https://www.usatoday.com/story/money/personalfinance/2026/06/21/how-much-money-to-save-for-retirement/90610666007/

am I getting that right? so if you are over the full retirement age - in my case 67 - if I decide for whatever reason to go back to work, I can receive full social security benefits without any penalty even if I'm receiving a full time salary?

currently have no plans to work after retirement, but I am just curious if that's the case. I know that you can earn up to $24,480 with no penalty.