Retirement's Big Question: Do I Stay or Should I Go?

*I'm revisiting a challenging predicament, hear me out on this. 

This has been such a common and important question many soon to be retiree(s) need to make a decision. Do I stay or should I go? Sounds like a song lyric, but the truth is, yes where do I decide to live after retiring? 

The Thinker, Artist: Auguste Rodin

Here's my predicament, I live and work in the city where my job is. It makes sense to be centrally located to where my job is - right? But, when you decide to leave, should you relocate? I live in an apartment in the city that has rent control. Many say once I leave, I can't come back as the cost of living for housing will never be the same. On the other hand, I also have real estate property outside of the city that will be paid off soon. I could live there and forego any additional rent paying in the city. But I don't want to live in a remote setting. For me, I'm a city slicker, I love the city vibe, the convenience of walking out my door and getting a cup of coffee and sit and take in the city setting. Whereas living in a remote location, I have to get in a car and drive somewhere to get coffee. Financially it makes sense: you're saving money on rent in the city and soon enough no mortgage to pay in a couple of years with the real estate outside of the city. 

In reality, I could keep both and enjoy living in the city to bide my time until my real estate property is fully paid for and I still have a place in the city. All I have to do is just pay for property tax, utilities, and maintenance, which will still be manageable. I think I answered my own question(s), it will be tough for a couple of years, but there's an expense for traveling I must contend with. 

Soon after retiring, I'm told no big decisions should be made for the first month. For example, moving, making a large purchase, etc. Also, from what I've read, it takes about 4 months after retiring that you feel that you've really retired. That's when reality really sets in. I need to set aside funds for some travel once retiring, which should really hurt me, but a budget is needed. 

As much as I prepare in advance in my inevitable retirement date of July 1st, there's always something nagging that I have yet to do or need to do. I constantly look at my checklist on items in my financial, social, and mental columns to be sure I didn't miss a thing. 

But I can only hope that I've covered as much as I can prior to retiring. Like the movie directed by Mel Brooks, The Twelve Chairs, set in the 1920s Soviet Russia, a fallen aristocrat, a priest, and a con artist search for a treasure of jewels hidden inside one of twelve dining chairs, lost during the revolution. A song in the movie titled, "Hope for the Best, Expect the Worst". I'd rather think of the positive aspect of retiring. 

The journey continues! 
Location: San Francisco, CA, USA

Comments

Post a Comment

Popular posts from this blog

Trying Something New in Retirement: Zumba!

Image
Move your body!  As I navigate retirement, I try to find ways to maintain my health and find ways to keep my workout regiment interesting, worthwhile, and effective in keeping yourself in good health.  This past Sunday, I signed up for an exercise class at the local 24 hour fitness gym. I signed up for Zumba. 24 Hour Fitness describes as  "Zumba® fuses hypnotic Latin rhythms with easy-to-follow moves to create a dynamic fitness program. The goal is simple: to want to work out, to love working out and to get hooked. Zumba® fanatics achieve long-term benefits in one exhilarating hour of calorie-burning, body-energizing, awe-inspiring movements."   Getting ready for class workout I couldn't agree more. As a first timer, I was met with a warm welcome applause as the instructor asked if anyone's first time. It was early Sunday morning, I didn't realize quite of few attendees were up and enthusiastic at a 9:00 am start time. The attendees appear to be mostly women, old...
Read more

​The Modern Retiree: 5 Ways I’m Staying Sharp and Social

Image
  Angel Island, San Francisco, Old Post Office Building Structure  It's been what, almost 9 months since I retired from my position with the University. Worked there for almost 23+ years. In that time, I've promptly eliminated any notion of work related communication, i.e. emails, subscriptions, and any communication with my old colleagues. But with the exception of colleagues who've moved on to the retirement world. We try not to talk about work, but simply the commonality of why we left the building to this day.  In addition being "checked out" from work, I've started my favorite thing to do which is travel local and international, also visiting friends and family at an extended amount of time. I don't have anywhere to go, so why the rush to get back home? Which leads to this question. How am I spending my days since retiring? There's only so much traveling one can do, or spend time with friends and family. That may be a third of the time, what about...
Read more

Impending Retirement Nears

Image
Last month I submitted my retirement notice and "paperwork" to my company's retirement office and notified my office manager that I'm calling it quits.  My retirement date is July 1. Somehow I feel a little at a loss on what to do in the meantime. I have yet to do a list of tasks as the date nears. The retirement office will send a draft on my retirement choice or actions than I would approve if that is what is needed. From my understanding, all of the processing should be completed by mid June based on other colleagues who have retired before me.  In addition to feeling at a loss, I feel also a sense of questioning my decision to retire, wonder if it was the right move, do I screw up on this decision? All these are questions that are swirling in my head to cause me to be in feeling of being frozen I guess?  Can't Move!  I figured when I get the draft notice that my retirement is moving along, maybe that will trigger me to make my next steps in preparing my final ...
Read more