The Four Phases of Retirement with Dr. Riley Moynes

[@gailsammons6050]

I have been retired for over 9 years and have loved every minute. I have never been bored for one second. With so much out there to do, see, learn and try! And…everything about everything is available at your fingertips! There is not enough minutes in the day for me to do all the things I am interested in doing. If you are curious, you will never be bored. Only boring people get bored.

[@stocksxbondage]

Learning new languages, music (playing or listening), books/stories, take food seriously by enhancing your pallet and traveling to interesting restaurants, hiking, photography, coffee/tea/wine, gardening, foster animals in need, volunteer, hunt for your favorite beaches on earth, etc. The list goes on and on

[@EJJ-EvArms]

"I'm bored" are the two most inane words. Unless one is stuck somewhere they can't get out of for a few hours etc, one has control over that.

[@ellenfoleyinmadisonwi2775]

Thanks to Riley. I am stuck in Phase 2 and looking forward to finding my way to Phase 3 and Phase 4. Excellent tips and reality testing.

[@paulclem5480]

Thank you, James, for having Dr. Moynes on. This speaks greatly to Root’s will for their clients to be prepared for retirement psychologically. I think many people may not know what they are expert in or are unable to execute in that vein into retirement. I am a person who can do many things, expert at none. One thing all people do have is the satisfying feeling of being able to help others, pursuing this noble cause is rewarding, empowering, purpose giving. Often little bits of help in any way can make a BIG difference in someone else’s life. Volunteerism is wonderful!

[@neilfoster5397]

I’m a recently retired pharmacist. We were so fortunate to have an amazing delivery driver, who had retired from his career and found himself bored. He went above and beyond for our customers and always had the most positive attitude. He inspired me!

[@joonlee3402]

James - thank you so much for this interview/video. This has been mind opening.

[@ld5714]

This was an excellent discussion, one that from my personal experience, I can say was spot on! I have been retired for 13 years and totally skipped phase 2, spent little time in 3 and moved right into phase 4 within 10 months or so. I had thought out and planned the personal side of retirement long before I took the step. It was just stepping from one role into another and I had a good plan on what that was going to look like. Dr. Moyne's comments from about 19:00 on were exactly right and descriptive of my journey thus far. It does take effort and for me it was the pre-thinking and planning of my personal future - that made the transition fairly smooth and easy. The 4 phases are a reality and if people simply become aware, put in the time and effort, their retirement will be just as successful, enjoyable and fulfilling. It is simply a new path on life's journey and you can absolutely make the most of it.

[@goneretired7030]

I feel really lucky. I’m close to 10 years since I retired. I guess in many ways I’m still in phase 1, but with a mixture of phase 4. I’ve RVed up to north Canada & Alaska several times, and each time I go up I explore new places including camping on the Arctic Ocean. I was trained as a musician - mainly as an organist, but became a software engineer during my working years. For a while I was also doing part-time musical work as church musician, but stopped doing that in my early 50s. When I did retire, I got my first RV and headed to Alaska for the first time. Prior to retirement, I purchased a condo in the Colorado mountains and began working there during the summer months. About 5 years ago, I started acting as a moderator for a facebook group of RVers heading up north, and I really like doing that as it involves advising others on making the trip and writing essays on things to do/see/and planning their trips. Also I started playing the piano again - getting a grand for the house and a digital keyboard for the Colorado condo. I think nothing of practicing much like I did when I was in college, and am playing compositions that I couldn’t even attempt when I was in college. I initially started playing again - and playing by memory - because I wanted to keep exercising my mind to avoid mental decline, but now am exploring new techniques and styles that I shunned in my earlier years, such as Jazz improvisation. Depression? Hardly. Board? Nope.

[@freedomlife3623]

That’s so awesome you are exploring and experiencing things. I am really looking forward to my retirement.

[@EJJ-EvArms]

As a fellow musician (piano, drums, bass) and composer, who has also played in churches (and bands) over the years, you have nailed this so well. Kudos and best to you.

[@glennet9613]

When I retired I took up woodworking, amongst many other things. I had always enjoyed doing it yourself but that was my first opportunity to make fine furniture. I couldn’t have done it without the Internet which allowed me to assess the resources I needed to teach myself. The Internet allows you to teach yourself just about anything, a language, quantum physics, fine art, whatever you want. Twenty years later and age 79 I am teaching myself 3D graphics, animation, video editing and there are many professional standard software packages which are free to hobbyists or at least affordable. When we first retired we took our bikes to Europe every year and toured a different country each time and eventually moved to Switzerland where we are still hiking, cycling and skiing. So I would encourage retirees to travel actively and with a purpose. It could be long distance hiking or studying French in Paris. The other aspect is your health, I would encourage retirees to eat healthily and take part in vigorous exercise, even if you can afford a life of luxury cruises and five star hotels long distance hiking or cycle touring might give you more years of healthy and enjoyable retirement. Anyway I have had twenty fantastic years so far and looking forward to a few more so I hope this encourages you to do the same.

Excellent information. Very helpful for me. I’m in stage 2 struggling to get out of it. Thanks both

[@SteveWillems]

Always love hearing from Dr Moynes, a colleague and fellow Canadian that's been on our radar since 1995 as The Money Coach!

[@johnkelley1426]

If one has ever been the primary care provider for parents . . . then one learns they don't want to rot to death. Without assisted suicide, it makes perfect sense why the elderly have high rates of suicide. Health is the most important part of aging. When mobility and self-care are figments of their memory, their motivation wanes. One has to wrap ones head around the likelihood that one's retirement is largely dependent on one's health and mobility - which can change on a dime with or without their causation.

[@crrizello5157]

Thank you very much for this great video. I am reaching one year of retirement at the end of June. I retired later (67) because I loved my work. While working, I always volunteered at my church and in the community, and I am continuing to do that now. I have hobbies that I enjoy, and I am still learning new things. My husband is not yet retired, so we aren't traveling all the time. I will pay attention to these phases, as I go into the vacation phase when we are both retired. I can't see, though, having a retirement that didn't involve volunteering/service as part of it.

[@spinnetti]

I'm convinced service to others that is the single most important thing for mental health at any age. Its just extra hard to do as an introvert. I find that "phase II" playing out while I'm still working since I'm working from home and have very little connection, and bureaucratic "office work" isn't that satisfying even if it pays well. I'm super introspective, but still haven't found a meaningful purpose though I have a number of skills I'm good at, those don't provide purpose.

[@coldbay2005]

Scary times ahead, thanks for sharing. We all deserve the best after working so hard.

[@eastwestpicayune8200]

Love, love all your videos. Very educational. I retired at 61 and I am on 3rd year of retirement. This video is spot on. I went thru the phases. I was on phase for 1.5 years. Traveling and enjoying my coffee at my patio for like 3 hours in the morning. Then phases 2 and 3 just suddenly set in. I managed to wiggle myself out of it in about 6 to 7 months. I needed structure and I was able to identify it. So now I volunteer in a senior center and help a friend organize her EMR. Of course, travel as much as I want. Thank you for all the knowledge you impart in the videos. Keep up the good work.

[@recoveredconservative]

This guy is good.

[@LSUtiger95]

Thank you for providing this personal side of retirement that we do not think about or plan for. There is so much to plan for on the financial side of retirement, that we fail to recognize we need to plan personally and mentally. I hope that this knowledge comes in handy when I plan to retire at 59. Thanks again for the fantastic content.

[@laneycastors249]

I've been engaging in Phase III for the last few years (though I didn't know what I was doing had a name) and probably will retire in 2-4 year. Good to know I'm on the right track to hopefully avoiding Phase II. I'm on my fourth experiment--Pickleball! Wish me luck :-)

[@markb8515]

Thanks James for a very informative video!

[@ericgold3840]

Not mentioned is loss of vitality and impaired health. Everybody has to deal with these things eventually, but the later the better. We all know to look after money, but looking after one's body is its own job and effort. You need the triumvirate of health, purpose and enough money to have a fulfilling retirement.

[@jameslawrence2553]

Appreciate this discussion, thanks!

[@ff5973]

Great video James. Thank you Dr. Moynes.I am just about to enter retirement in 5 months, I have already looked into passions I have to use my time. Woodworking, playing my guitar and coaching my friends in the gym. I am exceptionally worried as a firefighter my wife and I have been apart every 3rd day for over 25 years. She is concerned about me being home " all the time." Thank you for the insights.

[@johngarceau541]

Same occupation, retired in Feb after 25 years. The wife and I have coffee in the morning and dinner/Netflix at night. During the day I garden, fish, go to the gym and chat with whoever I run into. You got this!

[@cheriek3704]

What a great discussion thank you both I’m sure you have helped many of us heading to our retirement and already in it 👏👏👏

[@greglynch3662]

I am refraining from using the term retirement. I'm going to reboot. I'm a master electrician and handy man. I'll never quit working here and there just going to work my own hours and terms. No company no time clock.

[@janemcgrath9773]

This is so good, I’ll be listening to it more than once. I’m so glad I’m a small business owner and have found my passion decades ago.😉

[@annemorris859]

This is very helpful information.

[@Jupe367]

This is great information.

[@randolphh8005]

I’m a 2 year retired physician. Also a psychiatrist. Wife is also a retired physician. I would say that every person is unique. Some persons will go through something similar, some won’t. A lot has to do with your spouse, and your personality. We all need fun and satisfaction in life. There clearly is a big transition, but it varies as to how to make it successful. My wife and I have many outside interests, and activities. We have not experienced phase 2. Phase 3 not really either, but there is a transition that takes a little time. We are 90% there, and enjoying ourselves. We are self motivated. The biggest positive change has been the change in stress and schedule. Some social planning is important. Family gets a lot of attention.

[@jeffb.2469]

Good interview. Root - any thoughts on giving back and helping Veterans in their financial journeys?

[@JohhGaudelli]

I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 3500+ units. I do not work.

[@karmasutra4774]

Wow that is a lot of units! You must have had a lot in your accounts. I have some, but live off the dividends and only have my one house. That is great for you!

[@ppw8716]

Interesting…everyone I have worked with, friends I know or acquaintances I have met who have retired in their late 50s, now in early to mid 60s have no regrets and are enjoying being retired. Not one person I know who have retired early or retired at full retirement age have no regrets whatsoever.

[@leszekwiszowaty4954]

Thank you for the video. At 60 I am still working but I’ve been in phase 2 for the past 3 years, ever since my 18 year old son tragically drowned. Planned to retire at 62, not sure if I’ll make it. I have 3 grown daughters, 3 grandkids and a 13 year old daughter. Life throws you a curve ball sometimes and the phase order totally changes…

[@michaels840]

Boredom. Are you bored with your job or your life? I know I could not bear the thought of losing either of my daughters at such a young age. With so many others in your life how can you be bored? Take your time. I hope you find enjoyment in everyone that shares in your life.

[@coldbay2005]

How do we skip stages 2 and 3 😊

[@freedomlife3623]

Keep exploring and enjoying the process. Take initiative and be daring.

[@BeerFoamy]

Have a hobby you love in retirement.

[@dandydan999]

Planning! Plan A B C and be flexible and go easy on yourself. Take time to absorb the experience. It's all part of life.

[@mrh3085]

Understand in life it’s not the destination but the journey. Retirement is time to make a bucket list and start doing things you’ve always wanted to do. Is it traveling more? Rebuilding a classic car? Build a cabin in a dream destination? Read a list of books you’ve always wanted to read? Workout more for longevity and independence as you age. Learn to play an instrument? Volunteer your knowledge & talent’s to people who are looking for knowledge.

[@pengmagno7395]

For me retirement is to do things that I like and most of the times it’s doing nothing! Why in the world would I work all those years, save money, plan for retirement then still do so much work as the esteemed doctor wants us to do? I guess to each his own! 🤪

[@karmasutra4774]

Interesting because I feel the same. I do nothing but piddle around and enjoying myself with whatever I want. No real structure and have been doing them since 2010. But know people who hate that and can't stand my lifestyle and want to keep working lol. I don't get it. I sometimes do gigs or part time work, but mostly just enjoy day trips, kayaking, learning new things and so on. Everyone is very different it seems

[@OscarOwenn]

The interest rate has increased eight times since March of last year, to 5% now. My retirement fund has suffered greatly over the past few years due to inflation at 7% and mortgage rates at over 7.5%, so I'm wondering how older people retire and survive in such an unsteady economy. Obviously, now is not the time for me to play the long term game.

[@chrischapin2936]

I’ve been retired for 13 years and have not experienced most of the things described as the 4 Phases. While this might make for a nice research paper, my experience in the large group of retired individuals I associate with is much different. I am sure it is not your intent, but there are quite a number of KZbin “retirement experts” that are adding stress and fear to the plate of people planning for retirement. I don’t think fear is helpful and am pretty convinced that based on my own experience and observations, most reasonably intelligent people can use their own common sense and learned experience to successfully enter and thrive when retiring. I encourage you to seek out regular folks who have actually retired to gain the needed real world information you need to have a happy and successful retirement.

[@onlywenilaugh6589]

I'm not wired for structure; I want to wake up and decide what I want to do each day after adhering to a schedule and work for 40+ years:) People think we need to stay busy but most of us don't. Relax and do whatever you want. Get out of the rat race and the schedules. People make it sound terrible just to keep you in the workplace and your money in their accounts. lol