I've recently retired. I called it a sabbatical for a few years, but I enjoyed not working too much and have no desire to go back to the grind.

If you are in demand, then go for it - work until you drop. Retirement works for me, I always got more satisfaction from hobbies than I did from work and I think I have enough $$$ until I'm dead.

Since acknowledging I'm retired, I feel a niggling of a sense of guilt. Like I should contribute.

It's a weird thing.

I thought I could make spaghetti bolognaise to deliver to poor people in my pristine 1990 rolls royce silver shadow, but it could make me a symbol and target of oppression.



Maybe I'll just focus on keeping seabreeze.com.au 'back on track'

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myscreenname said..
I've recently retired. I called it a sabbatical for a few years, but I enjoyed not working too much and have no desire to go back to the grind.

If you are in demand, then go for it - work until you drop. Retirement works for me, I always got more satisfaction from hobbies than I did from work and I think I have enough $$$ until I'm dead.

Since acknowledging I'm retired, I feel a niggling of a sense of guilt. Like I should contribute.

It's a weird thing.

Maybe I'll focus on keeping seabreeze.com.au 'back on track'

You're like me but in reverse. I go on holidays and have pangs of guilt about everyone still working. A couple of days in and im ready to call the boss and tell him i won't be back.

plenty to do without working every day, its just a shame money is required to keep going with it.

Enjoy your retirement if you're all good on the money side of things. I envy you.


unfortunately i fear theres going to be plenty of us that need to keep some sort of employment into what would be retirement age, Pretty sure it'll be more a case of downgrading to a more manageable amount of work as people age, rather than stopping all together.

I am planning to retire Oct next year when I turn 60yo and can get my Super. I have been working full time since I was 17yo and always had demanding and deadline driven roles - and I am tired of it. Not getting too much satisfaction or joy out of the job anymore - even though the company I work for is very good. I've also never had a holiday longer than 3 weeks and not travelled much, so looking forward to some downtime and getting out and about. I reckon I will last 12 - 18 months before I start to get bored, although I have plenty of things on my to-do list... but will either volunteer or pick up an easy part-time role somewhere. Or just take my little Grandson to the beach and teach him how to swim, surf and snorkel etc.

I'd be interested to hear from others that are moving into retirement, as I hear lots of cautionary tales, and I personally know of three people who retired then went back to work within a year... all blokes.

It's all about being able to amuse yourself, adventures, projects, learn new skills play guitar or something. The blokes I see that have issues adjusting are the one that have lived to work, business owners or the dedicated employee, on the other hand if you have worked to live it's easy. Perhaps a side hustle for interest and some social interaction.

Just dropped down to 2 days a week. Nice transition into retirement. Keeps you in the loop and I only need to burn 4 days long service leave to get 2 weeks off.

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myscreenname said..
I've recently retired. I called it a sabbatical for a few years, but I enjoyed not working too much and have no desire to go back to the grind.

If you are in demand, then go for it - work until you drop. Retirement works for me, I always got more satisfaction from hobbies than I did from work and I think I have enough $$$ until I'm dead.

Since acknowledging I'm retired, I feel a niggling of a sense of guilt. Like I should contribute.

It's a weird thing.

I thought I could make spaghetti bolognaise to deliver to poor people in my pristine 1990 rolls royce silver shadow, but it could make me a symbol and target of oppression.



Maybe I'll just focus on keeping seabreeze.com.au 'back on track'

You must be on 6 figures mate. Or married to a coin queen. I'll work as long as I have too. Unfortunately, that is going to be a long time.

^^^ yeah I feel ya
work my arse off to never get ahead after losing on a real estate flop. I detest financial planner smart arses and real estate agents. 20yrs ago 'oh just buy anything to get into the market.'
it's not fun being the guy who was 5mins too late when for decades others made money.
then be screwed by the Govt on a work payout that evaporated. Be very very thankful for your early retirement fellas cos I dunno what I'll do when the body gives up ..

I would suggest transitioning to retirement. Back off to a couple of days a week so you feel like your are still contributing. Make sure you have plenty of projects besides windsurfing. You will have to subcontract to me if you want to get Seabreeze back on track.

That wouldn't pay the rent on work premises haha not even half

nice for some

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Mark _australia said..
^^^ yeah I feel ya
work my arse off to never get ahead after losing on a real estate flop. I detest financial planner smart arses and real estate agents. 20yrs ago 'oh just buy anything to get into the market.'
it's not fun being the guy who was 5mins too late when for decades others made money.
then be screwed by the Govt on a work payout that evaporated. Be very very thankful for your early retirement fellas cos I dunno what I'll do when the body gives up ..

I wouldn't be so hard on yourself. You may have been unlucky with that real estate deal and that government payout, but it doesn't mean you are jinxed.

Money comes and goes, things will turn around for you, as long as you are healthy you are doing pretty well. Generally I think we look out for each other here in Australia.

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Mark _australia said..
That wouldn't pay the rent on work premises haha not even half

nice for some

Just to clarify in case of misunderstanding. I was responding to the OP.

Third year into retirement and I feel no guilt at all. I'm still in demand for my skills but have declined many offers of return to work, I don't see the point. Having just turned 60 my mornings are filled with domestic chores and house maintenance. Afternoons are mine to hit the water, winging, parawing or foildrive get me out almost every day chasing swells or pump practice.

I still do repairs for the local foiling community, but only for beer money. Just a few composite repairs on boards and foils, kite and wing repairs as I still have machines. I guess I'm one of those leaches of society, paying no tax other than gst on things I buy but I'm good with that.

I'm in my fourth year of not working and just started hitting my super a few months ago. I was on very good money, but it all turned South for me as a self employed IT contractor around the same time Covid hit. I sold up everything, downsized and moved regional. Turned out I got in 5 minutes early on some excellent regional property and bitcoin investments and put most of the capital gains into super to offset the CGT. I doubt I'll ever go back to work.

I only started to feel the desire to volunteer or contribute to society in some way, while walking along a bush trail and having a dart in a beautiful park earlier this week. The trail and the park was built/funded by the Lions Club.

Maybe the guilt will pass.

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myscreenname said..
Maybe the guilt will pass.

It's the inner voice mate, worth listening to.
There are many ways to contribute, you've just got to find what works for you.

Our everyday actions can have +ve or -ve impacts on the people around us.
It's not a big thing, but just being mindful of the consequences of our actions can make the World a better place.

I went half time in 93, fully retired at the start of the century. But I had a great shed, could loose myself in there just doing stuff that interested me.
If you're just going to retire to watch TV, I'd forget it.

My problem is that I get bored and buy stuff I don't really need. Yesterday I bought an Android Auto wireless connector because the cable annoyed me.

And then there was the portable sun dial... and the Zippo lighter.

I am 59yo in early Nov. Been working full time since I was 17yo and now getting tired of the constant pressure and deadlines... workload just keeps increasing, and because I get it done, I get rewarded with more work...

About 2yrs ago after a serious medical scare I negotiated to drop back to a 9 day fortnight. Took me a year to get it approved as seemingly the only people able to go part time were young mums returning to the workforce. Unfortunately, in reality I was doing 10 days work in 9 days for 9 days pay.

This week I have just dropped to a 4 day week - having every Friday off (which makes for some 4 day long weekends with PH's). I am now trying to adjust my 'attitude' and commitment to only deliver 4 days effort for 4 days pay. Hard when the work just keeps coming in and I have decades of just getting stuck in and getting it done - and doing hours of unpaid overtime to do so.

Two motivating factors for retirement:

1) knowing when enough is enough (money, pressure, assets (owning your own house and having decent super)
2) experiencing time in an aged care facility

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shi thouse said..
Two motivating factors for retirement:

1) knowing when enough is enough (money, pressure, assets (owning your own house and having decent super)
2) experiencing time in an aged care facility

I'm sure many who have responded have a lot of experience with elderly parents and number 2.

Yep, retire, enjoy yourself and die before #2

Oh yeah but to balance my rant lol

a stat I heard was if you are in Australia on pension or Centrelink you are in the top 10% of the worlds rich folks
some number like that.
given the billion really truly poor people I can believe it and hearing stories from those who volunteer overseas I believe it even more

we are very lucky

What about volunteering on a non profit youth sports (any sport, not just windsurfing) club board. Getting kids active is something most of them would benefit from.

I'll never retire. Too many of you old bastards have dipped into the government coffers so I'll need to pay for your 'service', pay for my own maintenance, and secure the future for the impossibilities that will meet my children. But I'm ok with that. Life is supposed to require effort, everyone is supposed to contribute; a money cushion is not an exemption.
Airsail appears to have it right.

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psychojoe said..Too many of you old bastards have dipped into the government coffers so I'll need to pay for your 'service',

Interesting
I have been contributing to super for over 40 years to fund my retirement.

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psychojoe said.. Airsail appears to have it right.

Agree with that.

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hilly said..

Interesting
I have been contributing to super for over 40 years to fund my retirement.

47

I see superannuation like a free kick from the Australian Government.

The downsizing rule is one example. Sell your home after 10 years and you and your partner can put up to $300K each into superannuation - tax free.

The only downside to superannuation is with inheritance. If your children inhert from your super they are slugged 30%. But, if you manage to withdraw all of it prior to death then they inherit it all tax free.

Lots of little quirks to it that are worth knowing.

Bequeath to an estate rather than a person, and avoid the 2 percent Medicare levy.

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myscreenname said..
I see superannuation like a free kick from the Australian Government.

The downsizing rule is one example. Sell your home after 10 years and you and your partner can put up to $300K each into superannuation - tax free.

The only downside to superannuation is with inheritance. If your children inhert from your super they are slugged 30%. But, if you manage to withdraw all of it prior to death then they inherit it all tax free.

Lots of little quirks to it that are worth knowing.

Regarding inherited super benefits: Depends if the kids are dependants or non-dependants. If dependants, the tax is 0%. If non-dependants, it is 15% tax on the "taxable components" (+ Medicare potentially) and 0% tax on "tax-free components".

If you were lucky enough to have a generous defined benefit public sector super fund with "untaxed taxable components", then for these components your non-dependant beneficiaries will be taxed at 30% (+ Medicare potentially).

Structuring super properly in retirement can lead to zero tax for any estate dependants, and whilst in retirement it may also guard the retiree against changes to tax legislation on super / pensions in retirement. One simple structuring exercise for example: Once you are age 60 (in a regular super fund that most people have, so I am excluding some defined benefit public sector schemes for this), you are able to cash your super in completely tax free as you mentioned in your post...............but you are also able to recontribute that money back to super as tax-free component (within contribution limits), which you can do and repeat doing up until age 75......the goal here is to maximise your tax-free components and eliminate/minimise taxable components.....this way a retiree can reap the tax effective benefits of super all the way through retirement to death, but also eliminate / minimise tax for their estate, no matter who inherits the funds.

Similar strategies can be used across retired spouses to balance up super benefits whilst eliminating taxable components too.

Your Downsizer contributions mentioned are counted as tax free components, and can be done in addition to personal contributions mentioned above. Depending upon the balance of your super, it is sometimes best to do your personal contributions first then the downsizer.

It pays to get personal advice when retiring from a Financial Planner who specialises in retirement. Everything above is of course general info and should not be taken as personal advice.

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myscreenname said..
I see superannuation like a free kick from the Australian Government.

The downsizing rule is one example. Sell your home after 10 years and you and your partner can put up to $300K each into superannuation - tax free.

The only downside to superannuation is with inheritance. If your children inhert from your super they are slugged 30%. But, if you manage to withdraw all of it prior to death then they inherit it all tax free.

Lots of little quirks to it that are worth knowing.

withdraw it all (preferably on a quiet day) and put it back in again on the same day.
then its 0

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myusernam said..
withdraw it all (preferably on a quiet day) and put it back in again on the same day.
then its 0

I didn't know that. But I can check because my partner did something similar. She had a health scare - COVID jab. She panicked, withdrew all her super. A year later she was fine, opened another account and put it back.

wow. I wouldnt have thought a seabreezer would post this. after all we are all currently or ex watersports enthusiasts and work always seems to be around the best wind or conditions etc.

i have read a little in the past about the psycology of reitirement and specifically going cruising (sailing) and casting off the trappings of society. Much like the old timer in shawshank redemption we work for so long and live in the 5/7 9 to 5 cycle that we become institutionalised. Once we get freedom we dont know what to do with it and we are so conditioned to our shackles we continue.

With respect to others in this thread who may have done I don't think theres anything sadder than this. Than not having the self awareness, or drive, or appreciation of how finite your time really is, that going back to work is the best solution. Ask yourself on your deathbed if you wish you worked a few more years. Or if you had a terminal diagnosis, would u still work? I guess if you enjoy your work that much good on you but most of us don't. Not all recreational pursuits require a lot of money. If you are that skint there's the option travelling permanently. (as in selling or renting out house or not having a lease)

I also don't believe that organised volunteering or charity is a bit like this. U can't think of or dont know friends, extended family etc that could do with some extra time or attention?
Random retirement ideas

I want to go cruising. Depends on boat size or type. But you don't need to spend a fortune. If you don't have much you can always move onto the boat or sell or rent the house. But you could even do something like buy a cheap arse small boat and sail around australia. (I saw one today for 13k)
This does require some skill. There are also people delivering boats all around the world who want unskilled crew to help. You might need to chip in for food. Help deliver a boat for a few months to another country.

buy an old boat in america and do the great loop (inland canal and river system lnking the gulf of america to the great lakes and back)
or buy an old van and hit the road

Restore an old boat, car or motorbike.

Renovate a house or your kids house. Or buy one to flip. Build an extension

Go camping lots. Fish. Explore. Do tassie in summer. Darwin in the winter. Chase mud crabs, crayfish. oysters. Fish the run off for barra or the whiting run in SA. Make it a yearly thing Dont know how to fish? learn! join a club even.

In fact if you join a fishing or sailing club or any sort of club you can get into the activity without paying lots of money.
You can yacht race for free. literally. Just be willing to help and pass beers.

Walk the birrabumb track. (months long walk from perth to albany) Even in stages. Plenty of hikes around the place.

Do watersports. Chase the seasons and conditions. I dont surf but fancy id like to spend a couple of months somewhere teaching myself. Maybe indo.

Go caravanning. Farmsitting, housesitting. Do those campervan return trips where u drive it back for free.

Go to gnarloo for the surf season. live in a tent. Or indo. Explore Australia. You don't need a huge 4wd and caravan. Do it in the car you have now and a kings swag.

Go fossicking. Do one of those shxtbox rallies. Do the car up first. Raise money for charity

Get a horse and go on a horse safari. stay in pubs.

do some woodworking. join a mens shed. turn your hand at homebrewing or making wine or hunting. Spearfishing. bowhinting. harvest deer meat or roo.

I.e. got elderly parents? hang out with them. Do jobs around their house, go over for cups of tea etc.

Got kids? help renovate their houses. Cook them a meal midweek. look after the grandkids. Take the grandkids away on andventures all school holiday and give their parents a break

Garden. Grow your own veggies. Make a chicken run. Have a crack at permaculture or self sufficiency. Maybe u can afford a hobby farm or bush block.. Rear cattle or pigs or chooks.

Make your own sourdough daily. Maybe get so good at it you give to friends or sell in the local market

Go to the gym. swim laps. get or stay fit

Mow the old lady down the streets lawn. Mow yr friends lawn who is still working and leave a curry on the stove as a surprise.

Have a standing weekly golf game with your mates. Have a standing weekly fishing day with other mates. Or mountain bike ride.

Get into hobby aviation. Yr old so it wont be such a shame if you die. Those paramotors look cool. Dont look at flysurfers xray posts.

start a youtube channel on something you are interested in.

build a camper trailer. Build a boat. Modify your house. Weld shxt. Make a hell mad max style beach buggie out of scrap. maybe build one of those little jet boats with a wrecked jet ski motor. rebuild an old standup jetski and learn that.

go on dirt bike safaris. go on epiq kyaking or canoing trips.

Bum around south east asia. International travel costs a lot to go there and back but once you are there in a cheap country u can subsist on not much. rent out your house if u have to.

get an old fridge compressor and learn how to vacuum bag and make yourself a board.

walk your dogs. breed dogs.

do a snow season somewhere. Make it more cost-neutral by working. meet people through work. (see we only think about going for two or three weeks and the cost, but if you have unlimited time you could go for five months, work at a lodge etc)

Do some work for something you might enjoy like on a pro fishing vessel for a month or two, or on a farm or out in the wilderness. . Fark i reckon I would offer to help out for free.
I was at Porcupine Gorge recently and there were some grey nomads who had parked their vans there and were working as tour guides (paid). every arvo they would have a few beers around the fire and watch the sunset etc.


Some of these are not my thing (lots are) but it doesnt even matter even if you want to learn to dance, or sew or play lawn bowls, join the bridge club or whatever.

Not everything costs a lot of money and with the freedom of time you have lots of things you can do funds permitting. If you have low funds you might still be able to do because you have time in abundance. And if you dont have enough funds well we are all there to some extent.