I’m Retired and Regret My Impulsive Retirement — Here’s Why

Many of us dream of an early retirement — relaxing among the palm trees with a margarita in hand while we read the latest thriller. Well, Patricia G. was just like that — she thought retiring early would be the start of a grand adventure. After 35 years as a high school teacher, she jumped at the chance to leave work behind.

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But now, three years into retirement, Patricia wishes she had planned more carefully. Here’s why she regrets her quick decision to retire .

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Money Worries

Patricia didn’t save as much as she thought she needed. Her pension and savings don’t cover all of her expenses, as she hoped they would. Now she worries about running out of money before she’s ready.

“I really thought I was ready,” Patricia shared. “But I didn’t account for inflation or those dreaded ‘unexpected expenses’ everyone warns you about. I don’t want to penny pinch in my golden years — and now I’m worrying that I might.”

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Boredom Sets In

The first few months felt like a long, blissful vacation — the kind she dreamed about when she was part of the work force. But soon, Patricia found herself with too much free time. “Yes, it’s a thing!” she said.

She missed the routine and purpose her job gave her each day — and she misses the kids she taught too.

“Don’t get me wrong. I don’t miss the grading papers part,” Patricia said. “But I do miss the energy of the classroom. The old saying is true: Kids keep you young!”

Lost Social Connections

Patricia didn’t realize how much of her social life revolved around work — after-work drinks and weekend teacher retreats were things she looked forward to. She sees her old friends and coworkers less often now. Making new friends in retirement has been harder than she expected.

“I used to chat with colleagues every day,” Patricia said. “Now, a whole week can go by without talking to anyone but a Trader Joe’s cashier.”

Health Insurance Costs More

Patricia was surprised by how expensive health insurance is when you’re not working. She didn’t factor these higher costs into her retirement budget. Now a big chunk of her monthly income goes to insurance.

“The sticker shock was real,” Patricia said. “I’m paying nearly double what I did when I was working. Nobody warned me about this.”

Skills Getting Rusty

Patricia loved her job — she even earned her Masters in Education from Columbia and used those skills to help enhance programs at her school. Now she’s worried her skills are calcifying as the world moves on without her.

“Education is always evolving,” Patricia said. “That’s what’s so exciting — and sometimes frustrating — about it. Now, I feel like I’m stuck in 2020 while the world moves on.”

Missing Out on Peak Earning Years

By retiring early, Patricia gave up her highest-earning years. She now sees that working a few more years could have boosted her retirement savings by quite a bit.

“If I could go back, I’d tell myself to stick it out a bit longer,” Patricia said. “Those last few years could have made a big difference in my overall comfort. Plus, I’m in good shape and — knock on wood — am going to be around for a long time, so it wouldn’t be that big of a deal.”

Difficulty Finding Part-Time Work

Patricia always thought that if she wanted to find part-time work at a school or daycare, it would be easy. Unfortunately, employers seem less than willing to hire an older person to be around active young kids.

“I guess I thought I’d be a hot commodity,” Patricia said. “But that hasn’t been the case.”

No Clear Plan for the Future

Without the structure of work, Patricia feels lost. She didn’t have clear goals for retirement beyond “relax and travel.” Now that she’s done both relaxing and traveling, she’s not sure what to do with her time or how to find new purpose.

“I jumped into retirement without a real plan,” Patricia said. “Now I’m trying to figure out what I want this chapter of my life to look like. It’s harder than I thought it would be.”

This article originally appeared on GOBankingRates.com : I’m Retired and Regret My Impulsive Retirement — Here’s Why