Sunday Scaries
It's 10 weeks now until my retirement ( plus two days). There's that inner experience so many people get on Sunday nights, the Sunday Scaries, dreading that they have a whole work week ahead and the weekend is over. I never really experienced this too much, Monday was an opportunity for a fresh start, so it wasn't Monday I dreaded. However, Tuesdays have always felt like a challenging day. Once Tuesday closed, I felt like the rest of the work week was a breeze, even when it wasn't.
This morning though ( or more middle of the night), I woke up with an uneasy, uncomfortable brain worm. Am I making a huge mistake giving up a good job with benefits and living just off retirement savings? At least until December, I'll solely be using my 401K from my current employer, so I can avoid the additional tax penalty of withdrawal before 59 1/2. If you're at least 55 and use accounts from the employer you retire from, the 10% penalty is avoided. I'll not touch my rollover retirement funds for a bit. Good thing as I took a peak and all those supposed gains after the election are long gone, and then some. I keep reminding myself things ebb and flow in the stock and bond markets. There's no reason to panic...except, those heart palpitations ramped up when I saw a $35,000 negative swing in two days. I didn't get any adrenaline boost when the opposite happened, not trusting, and assuming too good to be true.
I'm taking this week as vacation, though on shared email watch for anything urgent. Next week I'll just have New Year's Day off, but it will be a quiet week. Starting January 10th, I'm starting to use down vacation accrual and taking Fridays and Mondays off, unless there's some meeting I need to be at. My replacement starts January 22 and at that time, I'll shift to more a consultant role, letting them take the reins. I think knowing an offer was made and accepted, plus a firm start date, was the ignition to my morning Sunday Scaries. It's real and no turning back now.
I know in my heart and head this is the right decision for me. No one has told me they regret retiring from their career, even if they end up back in the work force with a new job of some sort. Worst case scenario, I jump back into the work fray with a new job with benefits, but that's absolutely worst case. I run and rerun possible budget scenarios, figuring out from where living expenses can be covered if I need periodic pauses to let my retirement fund rebound. Even typing this post helps get the heart rate lowered. Sunday Scaries be gone.
I've not been in your position, but I can imagine feeling that way once it gets "real". And, hiring your replacement is pretty real. I'm excited for you that you only have 10 weeks left, and some of it on vacation, and many of the weeks with reduced days on. That is fantastic. I agree that, should you want to or need to, you can always go back. (Hawaii Planner)
ReplyDeleteI missed that you were retiring so soon. Congratulations. It's good that you're looking at the worst-case scenario and realizing it isn't that bad. Life is so unpredictable it's best to do what you want and have plan B, C, D, etc. incase things don't go as planned. I hope you have a lovely holiday with your family!!
ReplyDeleteDeep breaths help a lot. (Sunday scaries...heck, LIFE scaries!) You can do this, Sam.
ReplyDeleteI think that's the scariest thing about retirement - giving up that wage! I think once you've got into the groove it won't be nearly as scary. It sounds as though you've done some good planning.
ReplyDeleteIt does sound like you are ready, financially, emotionally and mentally. Retirements a big step, but I think you'll find it worthwhile. You can work if you need to, so that's a solid backup.
ReplyDeleteMy first pay check after retirement was a bit of a shock (about one-third of my salary) but the heebie jeebies soon calmed down after that. Things always look worse in the middle of the night anyway don't they! You know you've got everything covered and retirement will be wonderful!
ReplyDeleteWith all your planning and the ability to still work, I am quite sure things will be okay. But, I do understand the finality of retiring.
ReplyDeleteYou seem to be as well prepared as you can be, but I think feeling wobbly as the day edges closer to such a big change is to be expected, especially as life isn't how you expected it to be. Sending all good wishes for a peaceful Christmas. Xx
ReplyDeleteWishing you peace in this decision. My partner died 11 months after I retired and though I've had to readjust my modest budget, I have not regretted it for a moment. The peace and ease of not dealing with the angst of the office is worth more than I can say. Blessings. Lynn, Pecos, NM
ReplyDeleteBe gone Sunday Scaries for sure! I wish you the best, which is peace of mind over this, Sam.
ReplyDeleteSaid a very good behavioral Specialist, "No one likes change." Over the years I started to lean into it but it never got easier. You have an excellent plan and I think you are going to be ok.
ReplyDeleteJust take the jump with no looking back. Best decision I made in similar circumstances. It will take a few months to calm down and get into a grove but it is the best decision I ever made. In healthcare for 42 years…..time to get out though I still maintain my license. For a good year to 18 months it feels as if on personal time and think you have to go back…then it all kicks in. I joined a gym and start my morning routine at 0600 then fun classes…it helps as I had both knees replaced then 1.5 year after retirement. Keep in touch with friends from work….it takes work to do this but worth it…we get together er in small groups but some larger groups quarterly.. I closed the door and did not look back…actually felt guilty I did not miss since my job was a major part of my life for 42 years. Such a relief and finances fall into place as you get your rhythm after the first year especially. You got this!!!!,
ReplyDeleteYou can do this, Sam! Wishing you all the very best for Xmas and the New Year. xxx
ReplyDeleteI still get the Sunday Scaries, probably because I'm a sub and can get a call to come in on Monday morning, which seems to happen a lot. I've pared down my work days to Mondays and Fridays only. Tuesday and Thursdays I will be volunteering at the senior center serving lunch meals starting in January. Those are also the days I have Zumba class there, so it's a win win. I need to keep busy and feel useful and relevant.
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