patrick.net

Congratulations!

I followed a similar roadmap. When I was laid off at 57 I decided to retire. That was three years ago. The two adults I live with are presently working full time so I assumed most of their share of the household chores.

Expectations? I didn't have any. My days have been filled with household chores and errands, tackling deferred maintenance on the 53 year old sh*tbox we live in, spending more time at the gym, looking after some family members with health problems, walking the dogs, doing volunteer work in the community. I don't know how I had time to work (and commute) all those years.

Your health is your best investment, and things add up as you age. I'd recommend an examination of routines that include cardio as well as strength training. Too many roadblocks to exercising may lead to periodic abandonment, so either a gym within walking distance, or better, at home equipment. Running or at least speed walking isn't bad, and its easier to do if you live near open space and nice scenery. Access right outside your door makes it much easier. Related, a serious examination of diet. Carbs kill. Clean air is important. Smoking anything is bad. Again, things tend to accumulate with age.

Investments - diversification over time is prudent. Stonks, bonds, RE. Probably metals and commodities. Trying to market time things - maybe you can, maybe you can't. In any event, the long-term horizon is the prize. Consider you may live to your '90's. An algorithm engine that can project expenses and wealth over time under multple scenarios can be of help in laying out a glimpse of the future. A lot of financial advisors have them.

Lastly, choose your parents carefully.

I retired about 2014 completely.

If you have the money, besides Roth buy Vanguard Tax Managed Capital Appreciation which tries to produce a small 1099. An HSA invested in stock mutual funds is great, triple tax advantages. Taxes are the enemy in retirement. Other things are available if you have extra money.

I’m over 65 and 90% stock investment allocation; in a few years I will start to reallocate a bit (another $1 million net worth).

Beware the Obamacare trap before you are 65; medicare starts at 65.
I once paid $8000 to the US Treasury for my Obamacare, because you are on the hook if you have enough income. Trump got rid of the requirement, but California put it back. See what options you have in your state.

I was exercising frequently and have some interests besides working so I agree about gym or walking, hiking, etc. I used to surf but I stopped over 10 years ago.

I wish I had known that 50% of people develop arthritis, because it hit me suddenly. Now I have to get surgery or deal with limitations which are annoying.

I had not been to a doctor since 1994 and I got checked out around 2018. I was borderline high blood pressure, which you don’t want. High blood pressure is bad for you. I had a colonoscopy which was okay.

I’m an outlier because I didn’t buy a house in Santa Cruz when I lived there, so my net worth is entirely liquid assets. I feel very free lately.

I noticed that I am considering my own mortality which is a little disturbing; guys I know are deceased, some younger than I am. I saw Facebook pictures of some classmates and they look ancient.
Don’t make drinking a ritual habit. I hardly do and I am glad I don’t have a large gut or white hair and wrinkles.
It’s also unhealthy.

I ended up imitating my father in his 90s; I like to eat out, but I don’t go to the expensive places unless I have a companion and it’s an occasion.

Edit: In Florida I am frequently asked how I retired; in many situations I was around younger people than I (dive boat, social situations).
I tell them to invest $500/month in a Roth in capital appreciation funds to get started, Fidelity has no minimum.
I have noticed that as I age I have fewer friends but more money, the opposite of my youth.