Lessons I have learned in Retirement & COVID

I retired on June 24th not sure how it would go, I quit a job in February 2019 and then was asked by a boss from a previous job to come work at his new company which I did in February 2020. In June of 2020 I was laid off and then brought back in February 2021. Yes a February and June seemed to be busy months for me 😊

When I quit my job in February 2019 it was from a very stressful and in my opinion a soul-destroying job, it took about 3 months just to laugh again but I was still a bit stressed because of no income coming in. Prior to quitting I paid off two big bills and stayed long enough to be fully vested in my 401K, get both 2018 & 2019 Holidays I did not use and qualify for my bonus. Also I was able to fund my IRA and HSA for 2019. I also closed out a Mutual fund so I had some money in my Savings. My biggest expense during this time was Cobra which ended when I was hired in February 2020.

Then in June of 2020 when I was laid-off I was OK because I got unemployment, so I was not sure how I would feel when I retired in June of this year and I worked enough to fund my IRA and HSA. Also since I was unemployment I was able to get health insurance through Covered CA for a good price.

Which brings us to this year, I really am not stressing this time and I think it is because I had some income for the first 6 months and I am now old enough that if I have to I can get into my IRAs without any penalties.

The lessons I have learned is to downsize when needed, I now cook more from scratch than before which is not only good for the pocketbook but also my health, my stress level is and has all through COVID been down because I learned I will be OK and I learned the lessons my dad taught me about investing - THANKS DAD!

What got me thinking about this post is I was driving to the Supermarket to pick up things for my Dad and to drop off a check for him at the bank - it is so nice to be able to due things for my dad and myself during the week and not have to schedule or do everything into just two days!

I am not sure if next year I might get a part-time job doing something fun, create a business or not work at all but I do know that my Dad, Retirement and even COVID have taught me how to roll with the punches, stop and smell the roses and enjoy life.


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Comments

  • JodieDownUnder
    JodieDownUnder Posts: 1,483 admin

    @Lisa K Good for you, love your attitude. Great to be able to spend more time and doing things with your dad and not having to do it all on the weekend. I was fortunate enough to retire a few years ago, moved to an area to be closer to my dad and wondered how I’d fill in my days. Well all I can say is retirement is busy! I know I do stuff and keep busy around my place but I had no clue or structure about how the weeks just flowed and next minute its the start of another month. Time seems to go faster!!

    I did have to readjust and give myself a framework. So now I “work” Mon- Fri and have weekends to socialise, not all my friends are retired. I get to spend time with Dad, its a bit sad to watch a once capable and energetic man, succumb to old age. Arthritis and memory loss are his 2 biggest issues. Today I’m going over to help him sort out his man-cave, go through his tools he no longer uses and either keep some or donate to a men’s shed in the area. Reminisce about his younger years, his long term memory is pretty good, so we’ll talk about the glory days.

    Cooking from scratch is a winner, now we have the time. Like you say great for health and the hip pocket. Retirement is one reason I got involved in TGN, having the time to learn new ideas, making home medicines, growing food and being healthy. I plan on being around for a while and don’t want to end up like my dad, not enjoying life, in pain etc. All the best for a most enjoyable, long, healthy retirement. Nice pics too!😁

  • vickeym
    vickeym Posts: 2,134 ✭✭✭✭✭

    Wonderful that retirement is working out for you. Wishing I had the foresight to put some money away for retirement. Every time I did it seems like some emergency came up and the money got put towards fighting those fires. Now into my 60's I have nothing to fall back on.

    Glad you are able to spend time with your dad and socializing with some of your friends. Cramming everything into the two days off can be pretty hard.

    Good luck on your future, may it bring some peace and enjoyment after all the strife of the working years.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    Thanks @vickeym.

    Having money for retirement was something that my dad insisted I start when I was in my late 20's and I have to say he was right and I have been very lucky that I have not had any "fires" that needed to use my retirement investment.

    @JodieDownUnder Thanks, it is amazing how fast days go by and I don't know how I was able to work full-time and take care of a household. Granted it has only been the last 3 years that my dad has had any health issues that have caused him to slow down as much as he has and I have had to step in and take care of his household as well.

    I am very grate that I could retire and be here for him and to be able to spend time in my garden😊

  • VermontCathy
    VermontCathy Posts: 1,987 ✭✭✭✭✭

    I am nervous about retirement as I watch inflation kicking in. Inflation is really hard on the retired, who have limited options to increase their income when prices rise.

    My husband and I are not yet retired, but we have cut way back on the high-pressure, lots of hours career jobs. Now we're content just to earn enough to get by. It does help that our house is paid off.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    @VermontCathy that is what I did when I quit in 2019 and then went to work for an old boss in 2020. I would probably still be there if I felt I was able to give it my full attention 40 hours a week but that was not the case and I did not want to short change the company.

    Congrats on paying off your house that is huge! I still have a mortgage but over the years I did 2 refis and 2 rate adjustments so my mortgage is less the my rent when I moved to San Diego County 31 years ago (another reason I was able to retire).

    Next year I may go back to work part-time and doing something fun at a place where I get an employee discount 😀 like Barnes & Noble or Armstrong Nursery!

    One reason I may go back is to pay for medical, I am just about to turn 60 so I have 5 years to go before I can get Medicare.

    Another thing I have learned is that nothing is set in stone and life is very fluid - constantly changing.

  • RustBeltCowgirl
    RustBeltCowgirl Posts: 1,403 ✭✭✭✭✭

    I don't plan to retire just yet. I just want to get out of the company where I work. I fortunately don't have to really worry about basic medical coverage for the 3 years before I turn 65. I have the advantage of using the VA system for my basic needs. I also don't want to touch my SS until 65. My full retirement age is 66 and 7 months. I'm not willing to take a 30% cut in SS benefits at this point. At 65, it would only be about 10%.

  • Monek Marie
    Monek Marie Posts: 3,539 ✭✭✭✭✭

    Yes, Covid has been a real eye opener. I think it has made many people appreciate the smaller things in life that get overlooked. I have lost so many friends to this horrible disease.

    And retirement is really something that never seems to go as people expected. Sometimes it better or worse but I do anyone I talk to is busier once they retire.

    Thanks @Lisa K for your input. Loved the advice and positive points or a situation that is so unreal in so many ways. A life changer for many but there is still hope and adapting to change

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    @RustBeltCowgirl I am planning on waiting until I am 70 before touching my SS which right now if plans stay the way I have mapped it out should be doable. Healthcare is the biggest unknown right now and I have 5 more years before covered by Medi-care and even then that can be expensive so I plan to use my HSA when that time comes.

    @Monek Marie you are very welcome, happy that it was positive. I do try to find a reason or a lesson in all situations good or bad. I have lost friends as well and that was one reason that helped me decide to take the leap and retire. And it did turnout to be busier now than when I worked.

  • water2world
    water2world Posts: 1,177 ✭✭✭✭

    @Lisa K Perfect pictures to illustrate your message! Such a timely message for a lot of us--even if not thinking about retirement!!

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭
  • LaurieLovesLearning
    LaurieLovesLearning Posts: 7,576 admin
    edited October 2021

    @Monek Marie I have always been a fan of noticing the little things, especially in nature. It keeps a person grounded, thankful for what one has, and focused better on what matters and what is real when everything around might be chaotic, whatever the reason is. Funny how that makes such a difference.

    People are also important to me and their wellbeing is not something I dismiss quickly. Being kind, gracious and generous...and being available, being observant & being a good listener is also always important. Hate, anger, fear & division are just the opposite and are destructive beyond what most people now seem to recognize. The chaos surrounding covid has heavily reinforced that need of what is good to be actively expressed.

    Retirement doesn't look like much of a thing for us. We will still have kids at home to support later in our life, and with the stuff we already do, we will certainly remain very busy. We were very busy before all this began and we are now surprisingly very busy in different ways, some of it being a focus more on supporting and uplifting others however we can, making a difference in their lives. People need this, especially now. You know, it is returned, and passed on. It is good.

  • Monek Marie
    Monek Marie Posts: 3,539 ✭✭✭✭✭

    @LaurieLovesLearning Today I had a chance to escape from the house ;) There was on spot in my drive where the fall leave colors were so beautiful. It made my day to see such color and pattern.

    I will never truly retire either. Its just not me, but I hope to incorporate more of my passions in whatever I do.

    A little more kindness and compassion in this world would do so much to make everyone a bit happier.

  • LaurieLovesLearning
    LaurieLovesLearning Posts: 7,576 admin

    @Monek Marie I am glad you found a beautiful moment. Hang onto these and keep noticing them. There is beauty even in the midst of stressful & the darkest of days if only you take the time to see them.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    Hhmm discovered another benefit to retirement - usually when I needed an oil change I would go to Walmart near me early on Saturday morning and even though they open at 7 I if you did not get there by 6:30 - 6:45 I could easily be the 5th vehicle in line. Usually it would take an hour to an hour and a half.

    This morning I did not get there until 7:45 am and not only was I the first in line turns out I was the first person to arrive! Today it took less than 30 minutes in fact it took me longer to shop then to get the oil change!

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    Yesterday I took my dad to an appt which was at 9:20 am, it is one that I set up for him. On the way home my dad said he is so glad I retired which got me thinking ... another benefit I am finding about being retired is the freedom. When I make appointments for my dad I no longer have to worry if it is during a scheduled meeting or if something might come up that has to be handled right away. We also went out to dinner later that night and I did not have to worry about making up time that I took for the appt.

    I think I am starting to get the hang of retirement 😊

  • VermontCathy
    VermontCathy Posts: 1,987 ✭✭✭✭✭

    @Lisa K The idea that people who are working, not retired, have every minute scheduled under the control of someone else is very recent. 200 years or so, I'd guess.

    The normal state of humans for most of history was small scale farmers, or small scale tradesmen who made goods for others, or shopkeepers, and so forth.

    It was common as late as the eighteenth century for a shop master to decide that he and his journeymen had done enough work for the day to earn what they needed, close the shop, and break out the ale to celebrate and relax.

    It's only with the Industrial Revolution that we came to think of it as normal to have to be at work a certain time each day, work long and rigid hours, earn every possible dollar, and do as we were told by our employers forever.

    My life has been much less stressful since I quit my job at a large company and set up my own business.

    Look for ways to get off the treadmill and be your own boss. You may still be working hard, but you'll have more control of your life.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    @VermontCathy I completely agree and if I do go back to work, it will be for myself and on my time frame not someone else's.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    Today is the one year anniversary of my retirement!

    This time is much different than in 2019 when I quit my soul-destroying job and planned on working part-time. I ended up not working which in retrospect was a good thing, it took a while before I felt happy again and it gave me time to spend with my dad when he was doing better.

    In 2020 I went back to work full-time until I was laid off then hired back the beginning of 2021 before I retired June 25, 2021. The main reason I decided to retire was so I could spend more time with my dad while taking up new hobbies.

    During the past year some things have changed,

    -         things opened up, I was able to return to a gym, we were able to go out more so we were able to celebrate birthdays and Father’s day.

    -         I have been able to at least some classes and I have been able to work on my vegetable garden.


    In December my dad’s health began to decline which has resulted in more doctor appointments (he has a GREAT Cardiologist!) and changes to his routine, mainly helping him at night. I have starting doing more of his day-to-day tasks like dishes, getting his mail, etc.


    The biggest take away from this year is that I made the correct decision, what with my dad’s health and some of the things I want to accomplish for myself, I could not have done it and give the time & dedication needed to any employer or customer.


    I do not know what the next year will bring; I am just trying to be proactive especially where my dad’s health is concerned and optimistic about what the year will bring.

  • SuperC
    SuperC Posts: 952 ✭✭✭✭

    @Lisa K Try to plan three daily activities during retirement. Or, like you said, try a fun part-time job. It’s great that your dad taught you about investing at a young age.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    @SuperC He did do a good job and I do take different classes and do some work in the garden daily. In fact I have been watching the Super Food Summit which has been interesting, especially the Q&A sessions.

  • Michelle D
    Michelle D Posts: 1,465 ✭✭✭✭✭

    @Lisa K congratulations on the one year anniversary! I'm glad to hear all of your great takeaways.

    I stopped working my full-time job when my dad passed to be available to help my mom. I still work occasionally here or there. It is mostly small side jobs that I can fit around my families schedule. I have definitely learned the joy of being able to be available for my mom whenever she has a problem. Most days l feel like my schedule is more full now than it was when I was working full-time but it is much more enjoyable and fulfilling.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    @Michelle D Sorry to hear about your dad's passing. I know how you feel, it is great to be able to spend time with a parent and not have to worry about work and I also feel that I am busier now than when I was working full-time.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    Well, this week confirmed yet again that I made the right decision. Early Sunday morning my Dad called me and he was having trouble walking, I called 911 and in the Emergency room where they discovered he had pneumonia. He ended up getting admitted to the hospital but did not get moved to a bed until 10 pm. Visitor hours were from 10 am to 6 pm so I stayed with him during the hours which in the past I would not have been able too. His pneumonia has cleared up and he is now in a Care facility where he is getting therapy to help him get has strength back before he goes home. They are open 24 hours but I have been going over around 9 am and stay to 6 or 7 pm, again something I would not have been able to do if I was still working. I am very grateful that I can be there for my dad!

  • Michelle D
    Michelle D Posts: 1,465 ✭✭✭✭✭

    @Lisa K I'm so glad that he is improving! It really is great that you can be there with him.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭
  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    If I had any doubts about retiring last year, the doubt is no longer there. With all that has been going on with my dad since July 3rd, I am so grateful that I was able to retire and have been able to be here for my dad every day and not have to worry about making up time or inconveniencing my bosses and customers. I could spend all of my time concentrating on my dad and his care. Now that he is coming home today, I am even more grateful since his does not have internet and I plan on staying with him for a week or so.

  • Michelle D
    Michelle D Posts: 1,465 ✭✭✭✭✭

    @Lisa K I'm glad to hear that he is going home. It is great that you are able to be there for him without stress of a job. I will continue to pray for his recovery.

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    Thaks @Michelle D! Things were rough in the beginning but are getting better!

  • Lisa K
    Lisa K Posts: 1,936 ✭✭✭✭✭

    Yesterday was my second anniversary of my retirement – June 24th.

    When I originally retired in 2021, it was so I could spend more time with my dad who was starting to slow down. It was a decision I am so grateful that I made.

    July 3, 2022, was the first day my dad ended up in the ER with pneumonia. He ended up going in and out of ER/hospital/Care Centers for most of the time before he passed on January 6, 2023.

    The reason for this post is to reflect on my 2nd year of retirement which has been challenging, I am very grateful that I could retire, not only was I able to be with him through it all but also because I could stay present through it all. I am not sure what the 3rd year of retirement is going to bring and I am sure there will be more good and bad days, but it is a decision I will never regret. 

  • VermontCathy
    VermontCathy Posts: 1,987 ✭✭✭✭✭

    @Lisa K You have a life transition ahead of you, Lisa. Retirement is a time of changes for everyone, but yours was delayed by the time you spent with your father. That was a wonderful gift that not all of us are given, but now that he has passed, you will be going back and deciding what you want your retirement to be.

    Take your time, don't commit to anything too quickly, and ease into it. Blessings to you.