29 Jan 2021

Ups & Downs... overthinking


The last week or so has felt like a real emotional roller coaster. 

All self created mind you, and all in my head, worrying over which way to go with my finances as I start the 4th year of this goal to retire. 

 Feeling panicky and anxious about running out of money, worrying if I'm doing the right thing.  Crazy stuff! 

I've had days of feeling really good, that all is going to plan and we're going to be fine financially. Then I've had days of real anxiety thinking 'what were you thinking! you can't retire!You won't have enough!" and so on...

Then I go over and over where to put the money - the mortgage - the savings - or the work that needs doing around the house - each day preferring a different solution. Just overthinking everything.

Yesterday I started to get a grip on it and reminded myself that the whole reason I made a plan and a blog in the first place was to help keep me on track - on the path that I planned out in my year off. I made a specific financial plan so that I wouldn't be on this emotional roller coaster, so I wouldn't make impulsive decisions or get sidetracked. And so far we are doing better than we thought we would.

Remembering that helped and I do feel better this morning. Its the worst worry/anxiety I've had about it since I started this blog -perhaps its normal to worry as you get closer? I don't know...  Anyone else suddenly panic as they get closer to retirement? 

What I've decided to do is reset my goals for 2021 back to the original goal of reaching the $33,000 mortgage balance. That is the minimum I need to do to reach our five year goals -If we do more thats OK but $33,000 is now the goal. The $650,000 savings goal for 2021 is our salary sacrifice + employer contributions + 7% interest. We already blew past our original savings goal of $500,000 in super so what am I worrying about?

If I have extra I am going to start to build a bigger buffer in the IP offset accounts and start with some of the work that needs doing on the house.

So hopefully I can quiet my racing mind next time it starts to panic and just focus on being in the here and now, not worrying about what the future holds. I'm a firm believer in just keeping on with consistently taking small steps in the right direction - eventually that really adds up to a lot of progress! Right now I need to just work the plan and not buy into the mind chatter.

Aside from that I've been busy at work & have an interview for the higher position next week. Fingers crossed it all goes smoothly!

Image by Gerd Altmann from Pixabay


  1. I hope you get that new position if that's what you truly want.
    And I doubt anyone nearing retirement does NOT have second thoughts and doubts about their goals and plan. Heck, we've had them but mostly they arose from monkey wrenches being thrown into the plan. You just keep adjusting and moving forward.
    Having a plan plus all the small choices you make over the years that get you to that finish line. Just keep working the plan and it will be fine. That and breath deeply every now and then when the panic starts. ;-)

  2. Maybe you have now quelled your own anxiety now.

    1. I hope so, I haven't had that sort of anxiety for a long time.

  3. Well I think we all do that. You certainly have way more money saved than we did. We still managed to pay off the house, now we are at it again. You are still working and you will be fine.

  4. I’ve had those thoughts (retired in 2019 after 30 years of teaching). I can easily live on my pension and my investments are just back-up, but it is easy to let your mind race with “what-ifs”. Don’t let perfection be the enemy of good. You’re going to be fine because you have the ability to make adjustments if needed.