The highs and lows of one retiree’s first year out of the work force

Retirement is a lot like parenthood in that you can prepare infinitely and still be surprised at the reality.

A big reason for this disconnect is that 99 per cent of retirement commentary is from people who are not retired. I am, or at least I stopped working as a full-time journalist more than a year ago. So let me clue you in on what to expect when you’re expecting to retire.

People will be genuinely happy for you…

You might be surprised by the goodwill expressed by the vast majority of people who find out you’re retiring. People will seem genuinely happy for you and often a touch envious. It’s like getting married or having kids. People are on your side when you retire.

…but a few will be judgy

You’ll notice that some people say something like, “Oh, I could never retire.” The insinuation is that you’re now irrelevant. I just respond that I’m as retired as I want to be – working as much as I choose.

How to build a retirement plan that lasts decades

You will spend more money than you thought

Food and travel are key inflationary hot spots for retirees in 2026, but that’s not the entire problem. When you have more discretionary time, you have more opportunities to spend on hobbies, events and more. Retirement is sometimes portrayed as a time of self-reward, but you will have to make the same spending compromises you did when working.

You need tent poles to fill your schedule…

Journalists are fortunate to have skills that translate well into scaled-down, part-time gig work postretirement. I do at least a bit of work most days, which keeps me engaged, energized and challenged. Other retirees talk about volunteer work or hobbies that fill their time. The point is that you need a reliable, enjoyable way to spend blocks of hours each week. Idle, unfilled time can seem like wasted time.

…but having a flexible schedule is a blessing

You know how hard it can be to navigate a family emergency and a demanding full-time job? That problem disappears when you retire. If you need to be in another city to help out a parent, child or sibling, you go with a clear head and no work e-mail to check.

Your health will take precedence

Preparation for retirement is mainly about accumulating money. But once you’re out of the full-time work force, health becomes the bigger concern. Health dictates what you do, where you go and your quality of life. Suggestion: Don’t just build your tax-free savings account and registered retirement savings plan in the lead-up to retirement – build your health, too. Join a fitness club, buy some running or walking shoes, start playing pickleball or whatever you like that keeps you active.

You need to trust the plan

Your retirement is ideally based on a detailed plan assembled by a financial planner, or you in conjunction with a DIY planning app. Surprises happen in life and you will probably need to tweak your plan periodically. But you’ll also need to trust the plan so you can live your life without worrying about every stock-market dip, inflation surge or unexpected expense. A good plan says how much you can sustainably spend each year. Go with it.

The retirement cost of taking time away from work

Retirement travel is just a small part

My wife and I have travelled a fair bit in the past 12 months: to Yellowknife, to Mexico City, to Ontario’s Prince Edward County and to the Mariposa Folk Festival in Orillia, Ont. We’re going to Costa Rica in January for our 35th anniversary. But you know what? We’re home for the most part. A fun retirement means getting your day-to-day life right, with travel as a complementary activity.

There are moments of complete satisfaction…

The sudden, random realization that you don’t have to be anywhere specific and have no deadlines outstanding can trigger a kind of endorphin rush. The same applies to those times when you can say yes to plans with friends or family that would have been impossible under your work schedule.

…but your usual anxieties remain

Goodbye, work stress. Hello, more time to consider your other issues.

The No. 1 benefit

You’re off the clock seven days a week. You can wake up, eat, play, work and go to sleep when you want. You have the opportunity to run errands in the lull after morning rush hour, go to restaurants midweek and visit other countries after the summer rush or spring break.

Rob Carrick is a personal finance expert and former Globe and Mail staff columnist.