Planning for boredom in retirement

  

I’ve tried to change it. Tried to reduce my retirement age numerous times. No matter the scenario, they tell me the same thing: Age 63. 

That’s nothing to complain about. Millennials are told to expect to retire between age 65 and 70. Even Baby Boomers are finding it tough to retire by 65, and some of them simply don’t want to. 

I’m fortunate to have a defined contribution pension plan. Over 15% of my income is allocated to my pension every year, and yet my financial advisor still tells me with unfailing certainty: You can only retire comfortably at age 63. 

I’m starting to wonder how comfortable I need to be. Do most people sock away 15% of their income every year? It’s one thing when your employer takes it right off your pay cheque and totally another when you must discipline yourself to contribute. I’m sure most people put it off. There will always be more pressing needs than putting money away for the future. 

I’ve also read that retirement calculators typically over-estimate how much money you'll need in retirement. The income required will be much lower than when you’re working. If it’s anything like the pandemic, then I won’t be spending much. We drove less, went out less, and generally bought less.  

Which makes me think, even if I could retire at 63, what will I do? Do I have enough stuff to fill my days? I lack intrinsic motivation. My wife, by contrast, has no problem motivating herself. I need structure, a list of things to do, and it helps if there’s a pay cheque involved. 

My co-worker has admitted much the same. After two weeks of vacation, he says he's ready to go back to work. It’s not like he loves his work that much. It’s just... what else is there to do? 

Now maybe it won't be so bleak. I’ve read that around 80% of people who retire don’t miss their work. And those who do miss it are typically artists or people who really do what they love. I work in spreadsheets. It’s okay, but I wouldn’t want to do it for a living (that’s a joke). 

I’m not a workaholic by any means. Yet I find that work defines me more than anything else. If they’re willing to listen, I love telling people what I do. I can get into a lot of detail about the inner workings of government as my friends slowly nod their heads... off to sleep. 

It’s interesting work, but I must admit, it’s not who I thought I would become as a child (I had no idea what a bureaucrat was). If I'm embarrassingly honest, I wanted to be a best-selling author. It was my childhood dream, but it was just that, a dream. Like a boy who wants to play professional hockey for a living, it's unlikely to happen. Becoming a best-selling author, let alone a writer who can make enough money to live on, is a long shot. There would likely be no pension plan. 

Even if I had become the next John Grisham (writing novels about government bureaucrats instead of lawyers!), I’m not sure I could keep it up day after day. It's a lot of pressure to churn out books like sausages. Even the best writers sometimes only come out with one bestseller. Have you heard of any books by Harper Lee other than To Kill a Mockingbird? That’s because she felt too much pressure to come up with another classic, saying herself that "the only place for me to go was down."

But if monetary success or fame isn’t an issue, I suppose the enjoyment of writing should be enough. Especially in retirement. People paint crappy paintings. What’s stopping me from writing crappy books? 

Something to look forward to when I turn 63.