Retirement at 67, feeling free but financially anxious

meant to add , wanted to upgrade to a newer car- present one 19yrs old..bit petrified to spend any money considering this cost of Living Crisis et al, not knowing whats coming next.. How have you GNs navigated thru this?

Just sign up for any interests you have using your e-mail account.
Its surprising how many other links it will lead too.
Enjoy your retirement,cos I know I am.

Bea65. Congratulations on your retirement, which I’m sure you’ve earned after working for many years. Unlike you, I did have plans, which kept me stimulated and fully occupied. You should certainly relax and unwind, and enjoy some time to yourself. There are so many opportunities out there, you just need to do some research, and choose something that appeals to you. Good luck.

You’ve worked long and hard. This is your time to just smell the roses.
Have nice lie-ins, late brunches, watch TV and then when you’ve had enough of all that, join a local Seniors Group. Do you have family, GC ? I can’t remember your last post. Catch-up with friends, who you probably have lost touch with. You are still young - lots of good times ahead. Wish you all the best

I think it is a bit of a limbo time.
As I have written on here before, we went semi retirement. But now started another business as DH got bored.
DH and I are not one for many hobbies either. I rather wish we were, but never mind.
We both volunteer which helps a bit.

I probably have two suggestions. [I am no expert].
Yes, work out your finances. You will need to know where you stand with your new ingoings and outgoings, figures.

Also, having been on the forum a year, I think I have seen a thread or two about retirement. I will see later if I can find them.

www.gransnet.com/forums/work_volunteering/1323196-Single-aged-60-and-due-to-retire-in-6-months-How-did-you-find-retirement-as-a-single-divorced-widowed-person

Take your time, there is no need to rush. You really have all the time in the world. This is a very big change, and you may some mistakes, but it will not matter. Have a look at all your local groups, U3A, WI , political groups, craft groups, etc.etc. With these you will find an abundance of groups operating on virtually every day of each week.

You may also like to spend some time on regular charity work, most shops are still looking for volunteers, delivering meals on wheels, your local (sadly these days everyone has one locally) foodbank, Fridge for free. Many parks are run either entirely or part by volunteers.

For the finance side- write down all monies you are receiving. Then write down EVERYTHING you are spending money on - do not forget your own spending money even if it just the coffee you purchase if meetings are held in coffee houses. Provided that the first list is slightly larger than the second one, then (Micawber like) all is well. If not then look carefully at the second list and make as many cuts as possible. Sadly things like payments to charities may have to go, check all your insurances, you have time now to really research the best of these as they come up for renewal. Allow some money for clothes /shoes renewals, but you will not need as much as you did when working.

Again you have time to shop around, and to cook more from basics, you should be able to prune your weekly shopping basket.

Also to remember that as you are likely to be home more than previously, your energy bill may increase - but if this is a serious problem look up local 'warm rooms' in your area.

You should, hopefully, have very many years to live and enjoy this new way of life.

You now have masses of opportunities ahead of you.. Do you actually need a car, apply for a bus pass. Join U3A which costs a nominal amount for the year and then all classes are free. Use your Public Library tofind out about groups and courses near you.. Join a walking, art or womens association locally. You'll soon find you wonder how you everhad timeto work.. Enjoy...

Yes I do need my car- have reduced mobility and thats why I wanted to remain in work/paid job so I could still finance the car and potential repairs..have always been employed and solely independent. Am having a bit of a wobble..Retirements used to be such a Big Deal, nowadays not so much!

I retired one September so I faced the winter with zilch planned. I slept, read and watched TV and after a few months, I went for dinner which was ex-work related. The next thing I knew I was being headhunted and before I knew it I was working part-time.

I saved every penny of that work which lasted around 3 years. I had no savings, and living in London I used my lump sum to pay off my mortgage. I also found another part-time seasonal job.
Good luck.

Good advice from Fran. Suddenly going from working full time for your whole adult life to being retired and on a fixed income can come as a huge shock. Compared to working, being retired and able to please yourself when you get up and what you do is bliss, but the downside is the absence of the monthly pay cheque. Take a little time to acclimatise yourself to this new way of living and the freedom it brings, and then think about interests you might like to pursue locally. Look at the incomings, outgoings and savings over a few months before making a decision about replacing your car (mine is only a couple of years younger than yours and won’t be replaced any time soon). Just relax and enjoy and gradually become acclimatised to what I hope you will find is a wonderful life, full of promise even if it entails budgeting more carefully than was necessary when working. I wouldn’t go back to being a wage slave for anything! Freedom is a wonderful thing.

See what is available in your library. I joined a writing group 2 years ago. It's free. Tea and coffee provided. Usually about 8 of us. I made 8 lovely new friends.

I'm not in your position but I think it maybe best not to commit to anything until you settle in. I'm confident in a few months you'll wonder how you found the time for work!

Suppose I’m thinking of the other 60s being 60 in receipt of SP .. my thoughts R about being seen and validated in society

I would agree with those who have said maybe take a little time to acclimatise to your retirement. A few months or maybe even more - there are no rules! I decided that I would spend the first year of my retirement doing exactly what I wanted when I wanted and then make more plans for some structure to my days/weeks. Unfortunately before that year was up Covid struck and the decision was taken out of my hands so I had rather longer that I would have liked with nothing much planned.

I'm not one for "joining" things, but I have several home based hobbies, my daughters and grandchildren live near-ish and we are still helping out with childcare after school and pre-nursery for the youngest.

If you find that you really miss the structure of working, there are plenty of volunteering jobs around, local primary schools would love help with reading groups and help in the classroom. I'm sure you will find your feet soon - and please enjoy your retirement, you've worked hard for it.

We both did voluntary work and helped out with childcare in the holidays and followed our own interests. Yes, the heating bills went up, being at home more, but generally money was not a problem as we met our running costs, including two cars, with money to choose to spend (or save) . Do your sums and understand your financial situation. There are part-time jobs if you need the extra money. Try to relax and soon you will enjoy your new freedoms.

I have also just retired at the age of 67 and am also feeling financially anxious due to lack of pensions and worry that the savings I have will not last. Additionally I know I'm an impulsive spender (thanks, ADHD), and we too will need a new car in the not too distant future as the current one is 18 years old.

So I have found myself a contract job. I don't want to work 5 days a week, 52 weeks a year, but I have managed to negotiate 3 days a week for up to six months, and at double the daily rate I was being paid at before retirement.

I use a Starling bank account and one of the nice things it has are saving spaces; I have one for each of my forthcoming big bills and it stuffs an amount through each month and, crucially, doesn't include it in the headline balance when I open the app. The interest rate it's currently paying is a bit better than some other banks, too.

Bea65

Suppose I’m thinking of the other 60s being 60 in receipt of SP .. my thoughts R about being seen and validated in society

I dont think I am understanding the first half of this.

Persoanlly, only two times in my life have I felt like I was not being seen. I was about to jump up and down literally, but got noticed just in time!

As to not being validated - I suppose I am not old enough yet to answer that part.

Join U3A ( university of third age - dont need a degree! ) for various activities or simply meet people. Volunteer or simply join a walking group. Look for Walking for Health group as supports people of varying fitness.

Congratulations Bea65. I am sure you won’t regret it. A great time of life. No advice except choose your groups carefully and don’t do too much at once !

I think the important thing to remember that it is up to you to decide what you want to do Bea65.
You don't need to do anything at all unless you feel the urge, it sounds as though you've been pretty busy for years and there is absolutely nothing wrong with doing a bit of lazing around - you deserve it. If you need more to do later there are many things to join if you want to.
If you're worried about finance in the future a part-time job does sound appealing, something with no responsibily if that's what you want.

I do agree with others that working out exactly what you need to spend is a pretty good idea, then you can see how much you can afford to set aside for treats, holidays and future large purchases.

I keep getting asked to work for a few months and enjoy it, lovely being among younger people, dressing up a bit and getting thanked! Gets me out & the brain a dust off. Always something new to learn - using TEAMs this time!
Not the money although it’s nice & I put towards what I want … this time revamping wardrobe as I’ve lost some weight 😀
So enjoy your break & then look for a p/t job to put towards a car?? I’m 71 by the way & still think I’ve got a few years to offer in education.

If you have friends make arrangements to meet them for coffee or lunch or both.
I joined U3a last year and have met some very friendly people and have taken up taichi and other things which I am enjoying.
In the meantime take it slowly, doing nothing is ok, have long lie ins if you like that ( I do) sort of thing, join a walking group, help in a Charity shop . Basically don’t say no to any suggestions unless you really hate the idea.
Spring and summer are on the way a lovely time of year for days out instead of being at work.
You won’t know how you found time to work you just need time to get used to having time.