Retirement: Digital Reflections While Getting My Affairs In Order

Since I retired this month, I have spent at least an hour or two every day reviewing financial papers and other seemingly important household files and documents while I scan, save and shred them. Its a laborious but necessary task getting my affairs in order. For the record, as far as I know, I’m in good health. I’m doing this for my own sanity and my goal is to have everything in order so my kids are not burdened by this mess in the event of my death.

While perusing the “paper trail of my life”, the following reflections, observations, emotions and recommendations have bubbled to the surface:

• An inordinate amount of life and energy has been spent treading water just staying above the financial water line working 2 and 3 jobs at the same time. Keeping up with daily expenses is akin to the expression “missing the forrest for the trees”.
• The daily grind of lifes routine prevents comtemplation, reflection or an understanding of the bigger picture concerning finances, careers, plans, goals, hopes and dreams. In sum, it’s a deadening, numbing, soul crushing treadmill of missed opportunities. Now that I’m retired and sorting this material, I better understand priorities and how things work. My thoughts drift into that realm of “wooda-coulda-shoudda”. Unfortuatey, as a boomer it’s very late in the game. I guess it’s better late than never. If only I had a better sense of the big picture much earlier in life, I might have had a more productive, lucrative and relaxed life.
• Seeing the mountain of paper, documents, financial statements and files while viewing the miniscule amounts of savings and investments seems absurd. The phrase “much ado about nothing” comes to mind. I yearn for a simple, uncluttered life following the mantra of KISS (Keep It Simple Stupid). A wave of emotional and physical exhaustion washed over me while reviewing files concerning what at the time were urgent and complicated matters such as home buying, car buying, college debt financing, medical expenses, insurance expenses and finances in general. For a simple, working class guy like me, I wish there was some sort of postcard size format that addressed the absolute basics: food, clothing, shelter and medical expenses to patch me up if I get sick. Noting elaborate concerning these basic human needs. Is this simple life too much to ask for? I haven’t worked in the coal mines and textile plants like my ancestors. However, while digitizing this material, I now share a kindred spirit with them plodding from sun up to sun down putting one foot ahead of the other. I have found no records of love letters, exotic trips, life changing events or new paridims of thinking. There are only tax filings, W2’s, mortgages, and the never ending treadmill of invoices. There must be more to life than this.
• My advice to the younger generation includes the following: invest early, often and wisely. Live below your means. Avoid interest charges and credit debt to the greatest extent possible. Get an annual fiscal check up just like you get a physical check up and routine teeth cleaning. The earlier you can get a handle on “how things really work and what’s really important” the better off you will be in the long run. Don’t be a late-blooming boomer. Be the captain of your ship. Don’t drift with the tide. My advice to youngsters (and anyone for that matter) is to aim your ship to high ground. From there you will operate from positions of strength, maintaining low or no debts, high levels of equity and be vigilant to pursue opportunities as they arise.
• Beyond running the good race and running on empty most of my life, I wondered what else has occupied my time and energy all these years. The answer: minuscia. Obligations and committments (work, family, scheduling necessities) that for the most part have been externally imposed upon me. Urgent pressing matters swirlling in my head all these years revolve aroud questions such as “what do I do next and when do I do it”. Putting my house in order has made me realize that I have been living in the world of “what’s next”

So that’s my 2 cents (or factoring in for hig inflation, make that 10 cents). I would be delighted to know what reflections others have as they “Get Their Houses In Order”