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Saturday, March 25, 2017

Prepping for Retirement

Posted by Dave on April 16, 2013

This is a guest post by Dave, who is also looking to retire no later than 45, but unlike Tim has no kids and doesn’t want any. Dave is from Ontario and is working towards his CGA certification.

As I have discussed in previous posts, I have a moderate interest (maybe obsession) with prepping and being ready for any occurrence that could happen.  Whether it’s man-made (think EMP attack from North Korea) or natural (earthquake or something), I’d at least like to have a minor bit of planning that would allow my wife and I to survive a couple of weeks if something happens.

I understand that this interest in being prepared for an unknown disaster is probably moderately paranoid, especially living in an area that has been essentially unscathed historically by disaster. The thing with “prepping” gear used is also generally useful for backcountry camping, which I enjoy doing a few times per year. Other than the initial cost of overbuying, having some spare food around the house isn’t all that expensive, especially if you don’t let it go bad. As I have previously written about, this kind of preparation is just a kind of insurance.

My father is going to retire sometime near the end of the year. He understands that he needs to find something to fill in his time. Five years ago, he sold his entire beef herd (around 75 head) and the 200 acre farm that went with the animals and moved to a different place in the country where he has a few horses and a bunch of house pets. He’s decided that he misses beef farming, and in preparation for his pending retirement has bought a “mini-herd” amounting to 8 bred cows, which will calve in the next few months.

He decided that he could only play so much golf or hockey in a day before he would end up getting bored. The farm will give him something to do, which has at least the possibility of making money at the end of the year, and if not will provide some tax write-offs for his retirement income he will have coming in.

Some people don’t seem to have any plans when they hit “retirement age” and you see a lot of people going back to work to either fill in the time, or to achieve a level of fulfillment they couldn’t after the initial euphoria of being free from work (I’ve had several family members do this).

I don’t think that I will have a hard time transitioning into retirement, filling in the void of the 8 hours that I currently spend working. I look at what I enjoy doing in my 22 days of vacation and think that most of these activities could easily be scaled up to to take in my entire year, I would just be able to do it more often.

Who knows though? Maybe I’ll be bored stiff after a few months of not having to wake up every day to give up my free time.

What do you think you’d do to fill your time if you had an extra 40+ hours to use during the week? Do you think you’d get bored?

Comments

6 Responses to “Prepping for Retirement”
  1. Michelle says:

    I don’t know if I’ll ever fully retire. I think instead I will do things that I enjoy instead, such as getting into photography.

  2. Elizabeth says:

    Well I think it would be fun to go somewhere warm 6 months of the year . . . say Kenya on a build project or an orphanage in India.

  3. Jon_snow says:

    The only time I’m ever bored is at work. My interests outside of my job are numerous and make me very happy. Sea kayaking amongst orcas, sea lions is just one of the things I love to do – thanks to my full time job I don’t do these things often enough. This changes starting in 2014.

  4. greg says:

    this is a serious issue for me, but I luckily have about 3 more years before the option is available. However, it’s a bit different than for most because I have up to 5 decades of it. So right now I’m reading up for the background on all sorts of practical Nth careers from law to accounting, and brainstorming personal projects in my current area as a backup.

    I’ll probably stay busy.

  5. Brandy says:

    One time years ago, I wrote down all the things I wanted to do in my free time once I retire: learn Spanish, actually cook meals as opposed to just heating up prepackaged food, take vocal lessons, etc. By the time I had finished writing my list and allocating how many hours a week to spend on each activity, I needed more time than there was in a day LOL

  6. Joe Wasylyk says:

    I’m finding that Seniors(50 Plus) will need a lot of help in these uncharted waters called the retirement life. Nobody so far is mentioning that we could also work at a part-time job, becoming an entrepreneur or starting a small business. I am 65+ and I have chosen to be active, creative and productive in my retirement life.

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