When I travel I think I'm pretty flexible. With that said, I value a reasonable shower. And over the years I've had some issues with showers in Europe; mostly related to water containment. Maybe I'm not as flexible as I think I am or maybe I just don't understand how to shower the European way. So ... When I planned my first solo trip to Paris a couple of years ago, I made sure to carefully consider the shower situation as I searched for a small apartment to rent. I found what appeared to be a great option. The apartment was small, which was fine. It was cute, which was appealing. And it was in a great location, which felt safe. But ... there were no pictures of the shower. Via the VRBO website, I was able to ask the owner for a shower description or photos. After a bit of back and forth he wrote: I don’t know how to send pictures there ... thé d’homériques is simple And Work perfectly ... what do you want to know more !!" At that point I decided to let it go (at least with him), book the place, and arrive prepared. Even with the mysterious shower, it seemed like my best option. So after booking the apartment, I started thinking about how to "arrive prepared". It got easier when the owner sent me the WhatsApp contact info for the apartment manager/cleaning man whom I promptly contacted and asked for photos of the shower. He wasn't able to provide any, but connected me with the owner's wife, who was staying at the apartment at the time. She understood my question and sent multiple photos immediately. That helped the planning process a lot! Her photos made it clear that there was an opening with no door nor curtain, and a hand held shower. So here are the contents of the shower upgrade "kit" I assembled and brought with me:
-- Kathy
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Traveling alone in retirement wasn't a goal, but when it became obvious that European travel was giving my husband long lasting migraines, we had to rethink our plans. I described this in the recent Expect the Unexpected post. One friend suggested that traveling alone would make her feel self-conscious, but I love it and appreciated that another friend produced a recent AARP Bulletin article called "Travel for One". The article points out that "Fueled by women over 55, solo vacations are becoming increasingly popular".
While I never expected to be traveling alone in retirement, here are five unexpected pleasures I've discovered along the way.
-- Kathy Related reading:
My wife and I manage our own investments. As mentioned previously, It's Easier Than You May Think. There is a wealth of information online, and while we don't think it's worth it to pay someone else to manage our money, that doesn't mean we never ask for advice.
Finding valuable financial advice isn't hard. Big investment houses (like Fidelity and Vanguard) have knoweldgeable employees who are willing to talk with you and provide advice that aligns with your goals. In fact, this can be a key benefit of consolidating your investments in one place: The larger the value of your assets with them, the more services they provide (and usually at no additional charge). You can also hire fee-only investment advisors; people you pay for their time and expertise, just like you'd pay any other professional such as an attorney or doctor. Fee-only advisors provide guidance based on your age, goals, assets, risk tolerance, and other factors. Online resources, books, podcasts, and friends can also provide useful advice, or at the very least, ideas. It's critical that you take all the information you gather and then decide if it's right for you. Just because a professional suggests a plan, it doesn't necessarily mean it will help you accomplish your goals. Over the years, my wife and I have received some great advice, and we've also received advice that left us wondering if the advisor had heard anything we'd said or maybe our communication skills were lacking. For example ... When our kids were very young (and before we'd decided to manage our own investments) we visited a traditional investment advisor who was highly recommended by a friend. We had some savings and we were participating in our employer's retirement plans. The advisor asked us about our current financial situation and then said, "You're saving too much. Lighten up. Find some ways to spend more money." As we were driving home, my wife reflected, "He gave us that advice without asking about our goals and concerns. He didn't even ask if we were satisfied with our lives right now." Our first meeting with this advisor was also our last. On the other side of the coin, a Fidelity advisor was looking over our portfolio and said, "You've chosen some bond funds that aren't going to behave very well if interest rates change." He walked me through the steps to find an important piece of information about each fund. Then he described what this information meant and why it was important. I ended up making a number of changes to our portfolio based on that input. He helped us eliminate thousands of dollars of risk I'd unwittingly baked into our portfolio. It was very valuable input! This past summer, with COVID-19 in full swing and a Presidential election on the horizon, my wife and I had been discussing the state of the economy and how much money we wanted to have in cash in case the market took a big dive. Although we both had concerns about the market, my wife was advocating for a larger cash position than I was and larger than what was recommended in most scenario recommendations. After speaking with an advisor at a major investment firm, I confidently announced, "We have nothing to worry about. We have a bit more cash than the advisor recommends. We don't need to change anything." As I finished the thought, she was already saying "Whoa whoa, whoa! We need to talk about this." And talk we did. For hours and hours; about six as I recall. We discussed goals, a recognition that we both place a high priority on being able to sleep at night, and that our first objective was security, not maximizing returns. This led to a bit more online research and a conversation with respected neighbors (who stood > 6 feet away). In the end we increased our cash position ... by quite a bit. From the investment advisor's perspective, this was the wrong thing to do. But there was no question in our minds It absolutely was the right thing to do ... for us. If you're managing your own investments, seek input from others, but don't necessarily follow it until you're sure it's right for you. When you combine what you know, what you learn, and what makes sense for you, it's an unbeatable combination, and you're most likely to achieve your goals. -- Jim Related reading:
Sometimes people aren't sure what they'll do in retirement. Others have a pretty good idea. I was in the middle: I wasn't sure about my long-term plans, but there were a couple of things I knew I wanted to pursue early on.
We live in Fort Collins, Colorado where there are a lot of freight trains. Significant traffic disruptions occur daily and are a source of frustration for many. Before I retired, an article in the local newspaper highlighted a thought from our city manager lamenting the fact that there was no way for us to check our phones to obtain the status of nearby train traffic the way we're able to check the status of airline flights and the weather. He stated that the city couldn't solve the problem because railroad companies weren't willing to share schedule and location data. We, however, live on the edge of town and have a clear view of the tracks. It's easy for us to see (and often feel) when a train is going by when we look out a window. The perfect retirement project was handed to me "on a silver platter", or in this case, via a newspaper article: Develop an automated system to notify users when a train is headed toward town. People could use the warning to "get onto the right side of the tracks" before the inevitable disruption occurred. With lots of guidance from numerous friends who knew way more than I did about automation hardware and software, the train detection technology was developed. And since I hadn't been a software developer for over 35 years, it took quite a while and resulted in periodic bouts of frustration. On the up side, it turned out to be a cheap way to pass a lot of time. (You can read more about the Train Alert development process and web app here.) My wife was even pulled into the effort to help with the user interface and promotion efforts. This project was started and finished just because we wanted to see if it could be done. However it also took some (pleasantly) unexpected turns:
One of the things I enjoy most about retirement is having the time to pursue things that sound fun or interesting. It's even more fun when those efforts lead to fun you never could have anticipated. -- Jim Related Learning:
Relatively early in our retirement, we took a three and a half week trip to Europe and visited three countries; Spain, France and Belgium. It was wonderful! About nine months later I was ready to plan our next adventure. Given the fun we'd had on the previous trip, more European destinations seemed logical. When I asked my husband which places he wanted to visit he asked, "You want to go again? Already?" Apparently he wasn't eager to go again. Or at least not so soon. That shocked me! We'd spent over 30 years working hard and saving so that we could "travel in retirement". His ho-hum attitude about European travel threw me for a loop and had me re-thinking how I was going to spend the second half of my life. It's worth mentioning that my husband suffers from migraines, and overseas travel and many foods trigger them. Even though he's a really good sport, he made it clear that Europe with a migraine isn't all that magical. For the next few months I did some serious thinking and took some imaginary trips via YouTube. I stumbled across the concept of "Solo Travel" and listened to advice from a number of female solo travelers. Interestingly, they were all young, but as far as I could tell, age would only make my experience easier. I also thought about traveling with friends more and do enjoy that, but I found myself wondering what I'd do if I was able to make every decision myself. The thought was suprisingly energizing. Up to that point, I'd never considered the idea of traveling alone, and initially I wondered if I could do it in a foreign country. It took me a while to realize that I'd done it many times in the past for business, and I figured a leisure trip would only be easier. The next thing I knew, I'd booked a flight to Paris and it departed in 27 days. Then I rented a tiny apartment. (And by tiny, I mean tiny; Airbnb advertised it as 194 sq ft - not meters.) The. Trip. Was. Heavenly. Having spent over 30 years working full time and raising kids, 11 days to myself was not too long. I could go on and on about how much I enjoyed it, but will simply include one proof point; eight months later I spent 23 days alone in Rome :) Did I plan to visit Europe alone in retirement? Not in a million years. Do I enjoy spending time with my husband and even traveling with him? Yes! But I've learned that sometimes the unexpected can be even more fun than the expected. -- Kathy Related stories:
When I retired in early 2017 I knew I didn't want to keep doing what I'd been doing. But I wasn't sure I was ready to retire. If I retired, what would I do? Would I get bored? I knew I could be busy and happy for a few months. But the long term outlook was less clear to me.
On the first day of retirement we were literally in the middle of a kitchen remodel. (Professionals were doing the work for reasons described here.) There was a lot for us to do, and before I knew it, four months had gone by. I settled into other activities after that (hobbies, volunteer work, etc.) and time went merrily by. I continued to worry if I'd get bored at some point - but I wasn't bored yet. Interestingly, I relished doing things that I considered burdens while I was working. For example, one summer day I was cleaning out the car. When I was ready to vacuum, I discovered the shop-vac wasn't working very well. I spent 20 minutes emptying and cleaning it out so it worked like a charm. When I was working I'd have realized the shop vac was full while preparing the car at midnight for a family outing the next morning. I wouldn't have had the time or energy to empty and clean the vac. Now, having time available to do something as simple as cleaning a vacuum, feels glorious! As time has gone by (almost four years at this point), I've found I'm engaged in various activities. One volunteer effort mushroomed to the point that I needed to step back a bit. It was taking a lot of time. Don't get me wrong, it is (literally) the most satisfying work I've ever done. But since I want to stay with it for the long haul I know I need to pace myself. Interestingly and very satisfyingly, the new leadership that has come in after my tenure has taken the organization to levels I never could have imagined. Two years into retirement I decided I was no longer worried about getting bored. I'm not saying I'm busy. I'm saying I always have something to do ... and the beauty of retirement is that one can pursue things at any pace they wish. -- Jim
When something needs to get done do you tend to do it yourself or pay a professional to do it for you? House needs a new roof? I'm calling a roofer. A room needs painting? I'm off to research local painters. And although changing the oil in my car is not very difficult, I take it to the local shop. Other things, however, I refuse to hire out. I enjoy cutting the grass. And last summer I replaced the (regular sized) door that goes from our garage to the back yard.
What about your investments? Do you manage your investments yourself or do you have someone do it for you? Many people we know hire someone to manage their long term investments. It doesn't sound all that expensive. Management and trading fees generally run about 1.65% of total assets being managed. That sure doesn't sound like very much ... until you do the math to calculate the costs. Wouldn't it be nice if you could eliminate that annual expense? You probably can. Managing your own investments is easier than many people think. Yes, it requires some "startup" time. Yes, some basic knowledge needs to be acquired. You may even have investments spread across multiple institutions which may be easier to manage from a single institution. (Consolidating at one financial institution can provide benefits not available when assets are in different places.) Getting things set up also doesn't always mean doing everything by yourself. Talking to a fee-based investment advisor can be very helpful. In this scenario you're paying a professional for advice based on your goals but implementation is done by you. (It's like hiring an architect for design but construction is done by the homeowner.) Investing companies such as Fidelity offer services like this as well. Once some foundational concepts are understood and established, ongoing management takes surprisingly little effort. Where can you get started? Managing your own investments isn't for everyone ... just like painting a room isn't for everyone and changing the oil isn't for everyone. However, if you are currently paying someone to manage your money, I encourage you to be sure you know exactly what it is costing you. You might discover you just uncovered a simple part-time job that pays really well. -- Jim |
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