I actually have no plans for retirement, i would be way too bored. I'll keep grinding away at something.
I hear the "I'd be bored" thing so often, but I don't know, I don't think I'd ever fall prey to that. There's soooooo much stuff I'd love to do that there is just not time for. I'd love to get back into model airplanes - that's an endless hobby there between building and long leisurely days at the field flying and chatting with other hobbyists. I'd love to get back into horse ownership and riding. I'd love to get into photography. I'd love to be able to throw my tent and some food in a cooler and take off on the bike and camp here, there, everywhere. I'd love to do the same and take off for the west coast...just because.
There's just so much tumbling around in my head that I could fill 20 years with it all in a heartbeat.
I'm moving out of Canada and retiring in Central America. I already scoped out the places and its a paradise. Cute young women everywhere, sunny 280 days of the year, hot and humid everyday. New townhouses are only $40,000 dollars with all the amenities that a Canadian townhouse has. I'm planning in having a pick-up truck and 2 motorcycles, a trailer and a Sea*Doo. There are NO property taxes over there, so after spending the $40k for a townhouse I don't have to worry about anything except water, hydro and internet. I already scoped all that too.
I think that's a dream that many people think of that doesn't end up working out. We had friends in our riding group who did that about 6 or 8 years back - sold everything, left their jobs, and went to somewhere in that area. Less than 2 years later, they were home again - the cost of living was more than they were led to believe, they missed their family, they said that they never could acclimatize to the overpowering sweltering temperatures, and the crime was something that they said always had them on edge, and as well-heeled "foreigners" like it or not, you do always have a target on your back. They said it was exhausting at times if you actually wanted to live life, and not just drink yourself to death in your gated community. I'd go bonkers.
Florida for me. Inexpensive, great healthcare, lots of safe communities and the have ocean. Downside is bugs.
Well, as others have mentioned, the crazy people and the fact your house and many of your belongings might get flooded or blown away every year or three from a hurricane...and that's only getting worse at the years go on.
And one only need Google "Florida Man" to see how batshit crazy some people are there.
Not on my list of places I'm interested in going. There are other in the south that are much better options in my mind in many ways.
I tell myself that if I wake up 5 days in a row not wanting to go to work -- it's time.
Geezus, I'd have retired 10 years ago by that logic.
What keeps me at my current employer is a few realities:
- I can work 8 hours a day (no matter how much the company dislikes it, it's in our contract) in an industry where 10 hours would be considered the bottom end of a normal work day, and 13-15 hours is typical.
- I have a pension that I'm still building, and also has clauses with massive clawbacks if I start collecting it before 65.
- I'm not even 50 yet so it's too early to retire. House is paid for, not a lot of debt, but now we're improving the house, enjoying ourselves with a lot of travel and indulgements, and putting our kids through school. Once that's over, sock away money into more retirement savings.
On the topic of indulging ourselves with travel and buying "Wants" vs "Needs" more often now than before, well, I have also seen first hand people spend all their lives saving every penny and living on shoestring budgets with intentions to live large after retirement. And then not make it to retirement, or only a year or two into it. Sure, we might have less money every month when we retire because we took 2 or 3 big vacations every year, or had 2 motorcycles in the garage, and spent money eating out a lot, blah blah blah....but we'll have had the experiences. If I drop dead at age 60, well, it won't have been a waste. Who knows anymore.