How I wasted my first year of retirement

I wasted the first year I was retired. It wasn't that hard. The wasting of my first retirement year closely aligned with an episode from the famous sitcom Seinfeld. You may remember the episode known as "The Summer of George." George Costanza finds himself with three months of paid time off. He rattles off all of the things he plans to do with that time off, starting with "decompressing for the first week." That week turns into a month and before you know it he's "decompressed" himself out of three months.

Retirement and Decompressing

Now, to be fair spending some time decompressing after you retire is a good idea. There's nothing wrong with doing absolutely nothing because you've been doing "something" for most of your life. I have had a real job with someone cutting me a check since the age of 14. Granted it was part time work while I was still in school, but you get my drift. I worked for forty eight years.

Those first few weeks will feel a little strange. It's almost like you're on a long vacation. While you know you aren't going back to work, you still feel like you are. It took me almost two months to quit waking up at 4:30 am every morning. But, there is danger in decompression because it can become a habit. And habits are hard to break.

I thought I had a Plan for Being Retired

I thought I had a great plan for my first year of retirement. I can remember the last couple of months prior to pulling the string. When things were slow I'd sit at my desk pondering all of the fly fishing, golf, mountain biking and photography I was going to do. 

So how did those first year plans work out? I golfed a total of one time. I went fly fishing four times the whole season. While I did ride my mountain bike, it wasn't nearly as much as I had envisioned. Photography? I bought plenty of new gear, but didn't take too many photos. In other words, none of what I plannned really happened... at least to the degree that I thought it would.

What Did I Spend my First Year of Retirement Doing?

I spent a ton of time on my YouTube Channel. And it was very profitable but I felt like I never stopped working. Creating and shooting two videos a week is very time consuming.

While my friends were impressed with the amount of money I was making from YouTube (as it was a very good side hustle) in retirement, I was feeling pretty burned out and frustrated. Add in other things (like babysitting, running errands, and other family related activities) and I felt like my schedule was really packed.

My Advice for the First Year of Your Retirement

Do nothing for a month. When that month is over you need to start building some structure into your life. Balance out "me time" with family obligations. It sounds a little selfish, but the reality is you've earned this chapter in your life, so setting boundaries is more than fair.

Retirement Isn't Just About Having Free Time

Your retirement really isn't just about having free time. It's really about how you use that time. I hate to be morbid, but once you reach your sixties all bets are off. Things happen. So you need to use your time wisely, because it's the one thing money can't buy.

Some of you are probably thinking - whoa - I don't want to think about death. Let me just share this. Medieval theologians kept skulls on their desks to remind them of their own mortality and the importance of using your time widely.

You Need to Create a Structure for Yourself

If you don't consider a way to add some structure to your days you'll "waste" lots of time. It's easy to do. I'm pretty good at it. What do I mean by structure? It can be as simple as setting out blocks of time where you focus on your priorities.

Set Some Clear Priorities

What do you want to do with your time? Work on your health? Spend more time enjoying the hobbies that you couldn't do when you worked? More travel? Make a list and figure out when you want to address these priorities. In other words, develop some kind of schedule and try and stick to it.

Don't Be Afraid to Say No

When you retire, friends and family may think you are just sitting around doing nothing. For example, you might get asked to babysit the grandchildren more. Maybe your church will expect you to volunteer more time. Both are good uses of time, but you will need to learn to say no occasionally (and not feel guilty about it). Or your retirement prioirities will be a pipe dream.

Be Intentional With Your Time

You've earned the right to use your time they way you want to. This means if you plan to exercise an hour a day or go golfing once a week or whatever you've set as your priorities, you need to do them. Pretty soon people will know that Thursday is your golf day. Or that you'll be fishing once a week or every morning you'll be riding your bike for an hour.

Conclusion: Wasting My First Year of Retirement

While I may have wasted my first year of retirement, I've decided I've decompressed enough. This means more time doing things that I always wished I had the time to do. For me it's once a week golf, daily exercise and photography outings. For you it might be something completely different. The important thing is make the rest of your retirement "The Summer of George." Get that priority list together and start making the most of the precious time you have left!