I buy a lotto ticket every week.
Posted by DrFred

My wife and I decided to retire nine years ago, somewhat on the spur of  the moment, but only after we calculated the economic costs of early retirement.  We were fortunate in having no debt (a few thousand dollars left on a  house mortgage that we paid off as soon as we retired). And we both were fortunate in having defined benefit pensions from our state employment, as well as solid investments and savings.  Without the backup of the extra funds, we might have decided to wait two or more years so that Social Security and state pensions would be fully funded. In retrospect, I am glad that we did not do so. My wife's health declined (one reason for early retirement);  we had nearly nine years of freedom to enjoy travel, grandsons, hobbies, etc. before her death earlier this year. Planning is good, but it cannot take into account aberrations in actuarial averages that can befall anyone. I would say that if you do not have a clear idea of what you want to do in retirement, or don't have the means to do what you want to do, retirement can be a big mistake. We watched my wife's brother retire and die within two years. He lived to work. Big mistake. Learn to live -- to find things to do that are not dependent on working -- before you retire. Develop goals and objectives for retirement and focus on new things, new ideas, new people. It will keep you young. My own goals and objectives have evolved since retirement, caused in part by my wife's illnesses. After she could no longer be as mobile as she wished, our time was more restricted to our local area. But even so, as she had to visit a specialist in a larger city two hours away, we were able to combine doctors' visits with pleasurable events -- good restaurants, musical theater, concerts, tourism, gardens, and so forth. For her last year, we were pretty much restricted to local doctors and the house. Now, instead of being at loose ends with nothing to do after her death , I have developed new goals.  I write, read, garden, and visit as many arts and cultural events as I can -- they expand the mind and spirit, and remind me that I do not live to work, or in retirement to vegetate, but rather I live to enjoy the beauty of the arts and of nature, and the value of history and philosophy. I also want to focus on sharing this with young people. I envision a contest which will reward young people --haven't decided yet what age group-- in efforts to create works of art, writing, mixed media, whatever, that exemplify some principle of science, technology, or math. With all the energy now being spent on stressing the technical side of education, and with severe budget cuts in public education, I fear the arts and humanities may be getting lost. We need to have more scientists, engineers, and mathematicians, yes, but we need them to be able to be  more than technocrats -- for their own sake, as well as for the sake of the future of the planet. We can destroy the earth with our current technology, but can we learn to value it so that it will be there for our descendants? And will the typical engineer have any notion of how to enjoy his retirement if all he has been exposed to is engineering?  One can ask the same question of any of the business, medical, or technical fields.  This goal will be explored with our local cultural council, the state humanities council, and local advocates for the arts and sciences. Another developing goal is that of helping others. We have always supported local and national charitable organizations. It is well-known that helping others is a source of happiness and satisfaction. And happiness is a key ingredient for living long and well. In recent years, I have cultivated and propagated plants and contributed them to charitable organizations for their fundraisers. I am also making hypertufa (light-weight concrete) planters and garden stones for the same purpose. I believe that hands-on activities complement the mental and spiritual ones and contribute greatly to happiness.  In whatever time remains to me (at 72, I have the arteries of a young man and am lucky to need no prescriptions) I hope to continue and expand on these goals. Finally, I believe that anyone contemplating retirement should learn from Lincoln's concept of happiness: he said (words to this effect):  People are about as happy as they decide to be. Have we not all seen retirees who sit here and stew and fret and worry themselves into dependencies on alcohol or drugs, or even just early death?  They have decided not to be happy.
Posted by sabbelheini