Retirement at 67, feeling free but financially anxious

If you have a reduced income is there a side hustle you could start from home/online to make a small additional income? If you choose something you are interested in it can also become a hobby/passion.

I was born a collector and first became seriously interested in antiques in the 1960s. After I reached pension age I came back to the antiques world as a dealer.

There are many things you can do at home - writing, copy editing, tutoring, and so on.

No I don’t own any property… with ill health past 20+ years, have had to reduce hours of working and now have a very very reduced work pension..

If you own your own property outright, equity release is always an option. Some friends released £100k and were happy to have done so. Although I don’t think it is necessarily a wise decision, I know that it is available.

sparkynan

I’m due to retire in 16 months and 1 week😁I took on an allotment last year, in the hopes that I will be fit enough to work on it more when I do retire and can supplement my diet with home grown veg. I can only do a bit of digging and weeding at a time but it’s nice having somewhere else to go to get some peace from my husband, he hates gardening but has helped with the mechanical bits. There are lots of retired people working on their allotments and they are a really friendly bunch. I’ve worked out that with my pensions, I should get the same amount as I get now, so I’m hoping all will be well.

an artist friend of mine grew also flowers on her allotment and would give the guys bunches totake home to their wives, and she was invited to the barbeques they had on their allotments..

Do you not have an enhanced private/occupational pension as a result of being contracted out?

Feeling slightly tired of people bragging they’ve worked 30yrs and in receipt of pension but I’ve worked 51yrs - SERPS screwed us .. ie The Government should acknowledge this

First of of all enjoy the time you now have to yourself.
In the future look at doing some voluntary work or taking up some new hobbies.
Local groups of the U3A and Age UK run some fantastic groups that you might like.
Look in your library to see what is happening near where you live.
My local Tesco have many notices on their information board on local activities.
Best wishes for a happy retirement.

I’m due to retire in 16 months and 1 week😁I took on an allotment last year, in the hopes that I will be fit enough to work on it more when I do retire and can supplement my diet with home grown veg. I can only do a bit of digging and weeding at a time but it’s nice having somewhere else to go to get some peace from my husband, he hates gardening but has helped with the mechanical bits. There are lots of retired people working on their allotments and they are a really friendly bunch. I’ve worked out that with my pensions, I should get the same amount as I get now, so I’m hoping all will be well.

Bea65 Congratulations! 💐 You have finally reached Nirvana! A blessed state of release, relaxation, recouping and peace.

Like you I worked all my life since the age of 16. I retired when I was 73. Three years later I am still deliriously happy over my retirement. Sleep late. Do what you want, when you want.

What did I do? What have I done? Nothing.
There was no way I was going to rush into volunteering, part time side hustle, church activities, expensive hobbies, etc. Let these things come to you organically. You will discover your interests, you’ll have time to think things over, travel, family and friends.

You will find, in time, your finances will adjust, you’ll have income to support yourself. You’ll figure it out. Don’t fret.
Enjoy!
USA Gundy

I am in New Zealand and will be in a similar situation within the next couple of years. I had to laugh at what one woman mentioned in a thread on a website here - she said she slept for the first year of retirement and I so get that. You have worked hard all your adult life Bea65 so just relax and smell the flowers for the first year or two then work out where to from there. Sleep in if you want to, do a few puzzles - I do Connections and Wordle each day plus Quordle and Blossom if I am on holiday and Spelling Bee just to keep the grey matter ticking over. Put your feet up and enjoy your vacation - no need to rush into anything until you feel like it. That's my plan anyway for when I retire.

If your car is important with regards living your life ATM, ie visiting family/shopping/leisure and you have poor public transport in your area then yes, I would say upgrade your car. You need something reliable. I retired last year and have settled into it very happily.

Advice from my place of work on their ‘pre-retirement’ course was not to do anything for the first 3 months of retirement. It’s a huge change and you need time to process it, and not jump into doing things you’re not sure about. You sound like you deserve a very good rest, so here’s hoping you have one.

I retired 6 years ago. The first year was "oh so what do I do now". Just let yourself into retirement gently. Financially you will need time to plan your outgoings etc. it's still winter so catch up with whatever hobbies you have, maybe a bit of clearing out , decorating. This will lead you into summer , if you have a garden you can now take your time doing whatever in it. I was never very social so I wasn't craving conversation but I understand if you are you still need to meet up with people. You will survive. It's amazing what you find you "don't" need.

Another one here who thinks biglouis has given us something to think on !

Good sense from you, biglouis!

Thank you Starseeker, your words were just what I needed to read. I’m 65, about to retire and feeling nervous. Your advice makes complete sense so thanks.

Retirement - best job in the world but lousy pay!

Are you interested in something new? Learn Italian, learn a craft, get a dog etc?

Is there something from your past you like to pick up again? A computer course, sewing, did you enjoy art at school?

Have you got your bus pass yet?

Incidentally I have access to several U3As locally, all very different in what they offer. Likewise WIs.

I retired at 67 - 12 years ago! I already belonged to two art groups. One was U3A. Check what groups your local U3A has. Some of the ones here are walking, family history, painting and languages - plenty more

I think many older people take insufficient pride in the work they have done over the course of their lives to contribute to the community. As a result they oflen feel that they no longer have status or value in society. People treat you in the way that you teach them to treat you. Never be afraid to assert your boundaries or to remind people of your worth.

Re joiningu3a - it is a great organisation for meeting new friends, trying out new interests and so on. Our Sough Manchester u3a costs a mere £15 a year,, has over 35 activity groups and costs £2 to attend a session. Do give it a try!

63 and tired of working 4.5 days a week, so I am beginning to list what to do when I retire .. first will be a massive clear out of everything I no longer need from books to payslips to appraisals, office wear, bags, shoes etc. Second is meeting up every single week with one or several people who I haven't seen enough of, either at home or out, thirdly getting up to date with all medical appointments, then planting small vegetable patch, planting favourite flowers, finding a seniors exercise class, planning trips, volunteering,etc etc ... Good Luck!

I retired in October 2022 aged 64, I get SP this coming December.

It literally took me a whole year to adjust, BUT I have many retired friends, three adult children still at home, four dogs here and a husband.

I worked full time throughout, cared for sick and elderly parents, volunteered as a school governor for 13+ years and various other children related voluntary work, I simply am happy to kick back and relax, still have plenty of books to read, lots of housework, still cook for us as a family though only three times a week. Watch my fav TV programs, have done a bit of budget travelling.

Do whatever pleases you and makes you happy, it takes time to adjust.

Could you possibly swim (or just walk in the pool?) it would be an exercise that is lighter on your joints and you can purchase continence swimwear now (if that is an issue) no one would know any different

Dancing girls 👯‍♀️