Top Myths of Retirement

Now that I have 'retired' for the past 9 months, I have some discoveries that I would like to share.

If you recall in my previous post, I started a sabbatical in June 2023, rationale and motivations are in the link below:

https://financeopti.blogspot.com/2023/06/wrapping-up-my-first-month-of-fire-had.html

Embarking on the journey toward retirement is a significant milestone, often accompanied by different expectations and assumptions. However, as we navigate the evolving landscape of financial planning and lifestyle choices, it becomes increasingly clear that many commonly held beliefs about retirement are mere myths waiting to be debunked. In this exploration, we'll unravel these misconceptions, challenging conventional wisdom to reveal a more nuanced and empowering perspective on what it truly means to retire. So, let's cast aside the stereotypes, question the status quo, and embark on a journey to redefine the narrative of retirement. Are you ready to discover the truth behind the myths?

Here are the myths of retirement that I would like to bust:

1. You will be bored to death in retirement

This is absolutely not true. I have a huge backlog of stuff I would like to do for example, books I want to read, subjects I want to study, hiking trips I want to take, and places I want to explore. Simply taking care of my kids' stuff already makes my brain fully loaded, and I sleep very well most nights. 

2. Your brain will become stagnant

This is only true if you become a couch potato and everyday watch TV/play games. You need to plan things to do, and subjects to study. For me, I found time to revise some of the topics I learned in Graduate school, which I have forgotten, but is still useful for my career. 

3. Every day will be like Sunday

I think this is only true if you have no kids. On Sundays, I spend my time ferrying the kids to their classes, bringing them out for fun, and cooking dinner. On weekdays, my kids go to school and I have my precious alone time where I can do the stuff I want, even day-dream a bit.

4. You will spend more in retirement

I think in retirement there is definitely an inclination to spend. Because now you have more free time, you can choose to dabble more in your hobbies. Fortunately for me, my hobbies (e.g. hiking) are not expensive. Furthermore, I have fixed a monthly budget which I have to stick to every month to ensure I do not overspend. 

Thats it! Above are some misconceptions of retirement that I found in the last nine months. By challenging misconceptions and acknowledging the evolving landscape of retirement, individuals can better prepare for their post-career years. It's essential to recognize that retirement is not a one-size-fits-all concept and that flexibility, adaptability, and financial literacy are key components of a successful retirement plan. Embracing the idea that retirement is not the end but a new beginning allows individuals to redefine their purpose, explore new passions, and continue contributing to their communities.

Onwards!