I retired last year at the age of 65. We spent the last year doing lots of thinking. After realizing that we couldn't continue the same lifestyle, we decided to downsize significantly by selling the house and all our belongings and use the equity to buy something much smaller and eliminate the mortgage payment.
Then we had to find a new place to live and after much research, found a 55+ community that we liked in Florida and have now been here three months.
We have gone through many stages--adjusting to full retirement and separating from our work lives, weighing all the possible alternatives for life after retirement, deciding what we wanted to do and then actually going through the steps. This last step of starting over with all our routines totally changed has been the toughest and also the most gratifying.
We moved from having a 3 floor home, 4 bedroom home on 3 acres in Kansas to a small 2 bedroom condo with minimal furniture and decorations in southwest Florida. Our cabinets and closets are mostly empty and we no longer so many things we do not use and don't want.
We have turned over our kids' "stuff" to them and now we make very conscious choices about what else we want to add.
We have paid off most of our debt and do have enough to live on (carefully) and are close to an airport so we can travel to see our kids who are located across the US.