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Article - Retire but don't quit your job
Old 03-01-2012, 03:35 PM   #1
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Article - Retire but don't quit your job

I found this to be an interesting article but to suggest that one could still be working full time and enjoy a retiree's lifestyle ignores a couple of really important benefits of retirement not the least of which is freedom. If I was to have kept working full time even if spending more I would not be enjoying a retirees lifestyle, not even close!

Retire without quitting your job - 1 - retirement planning - MSN Money
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Old 03-01-2012, 03:43 PM   #2
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The problem is that you can only "retire" without quitting your job if (a) you still love to do it and (b) you can set your own hours and terms. If those things are the case, sure -- maybe it won't feel like w*rk and it's worth the added security and lifestyle upgrade. But that probably accounts for less than 1% of the people working today, it doesn't help the other 99% who want out, either because they don't enjoy what they do or they don't like having to do it on their employer's terms.
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Old 03-01-2012, 03:45 PM   #3
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Yes, to live the retirement lifestyle you need to have the FREE TIME! Gee!
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Old 03-01-2012, 04:48 PM   #4
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I read the article, and it's an option. I guess having the extra spending money from 60 on makes working more tolerable for some people - could be. But I didn't follow this sentence at all though, not sure what I missed...must be relying heavily on Soc Sec, pension or both.
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If you've saved an amount somewhere around five times your annual income by the time you're 60, this approach should work, said Christine Fahlund, T. Rowe Price's senior financial planner.
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Old 03-01-2012, 05:27 PM   #5
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When I first read the thread title, "Retire but not quit your job", I immediately thought of the character Wally in Dilbert's cartoon.

Wally "retires in place"!

I have seen a few Wally's in a previous megacorp, people who did little work, and just hung around waiting for pension, SS, or Medicare to kick in. Megacorp was afraid to fire them, because of the fear of age discrimination lawsuits. If the potential litigation cost was higher than the guy's pay for a couple of years, they would just wait for the guy to retire.

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Old 03-01-2012, 06:21 PM   #6
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When I first read the thread title, "Retire but not quit your job", I immediately thought of the character Wally in Dilbert's cartoon.

Wally "retires in place"!

I have seen a few Wally's in a previous megacorp, people who did little work, and just hung around waiting for pension, SS, or Medicare to kick in. Megacorp was afraid to fire them, because of the fear of age discrimination lawsuits. If the potential litigation cost was higher than the guy's pay for a couple of years, they would just wait for the guy to retire.


it is called ROAD (retired on active duty) in the military
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Old 03-01-2012, 06:28 PM   #7
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I am dealing with a FIRE'd (apparently very well off financially) person who is pretending to "work" in my office. In fact, she is getting in the way of far more work than she accomplishes. I don't know why she doesn't just quit. Maybe it is all part of the passive-aggressive game-playing personality ("I don't really need to work, but I'll pretend to come to work anyway just so I can annoy people who actually do need to work.")

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Old 03-01-2012, 10:53 PM   #8
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In the Navy this is referred to as the "ROADS" scholarship program: "Retired on Active Duty Service", or "might as well be retired for all the work that we get out of them".

Or even worse, "If they retired right now then we'd all have less work to take care of."

Quote:
With more money to enjoy life, working doesn't seem like such a raw deal.
I think another phrase for this is "golden handcuffs" or "buffet line in the prison cafeteria".

So what does one of those wild-eyed rockin' hard-partyin' heavy-spending 60-year-olds get for annual leisure time, anyway: four weeks? Five? With perhaps a smart phone in case the office really really needs their help while they're on the beach?

I'm gonna have to reconsider Liz Weston's credibility.
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Old 03-02-2012, 12:47 AM   #9
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Sounds like a fancy way of saying you can't afford to retire without compromising on lifestyle.
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Old 03-02-2012, 01:03 AM   #10
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Next someone will do a study proving the benefits of w*rking to within five minutes of your dying gasp.
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Old 03-02-2012, 04:48 AM   #11
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I plan on working five years after I die.Not.
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Old 03-02-2012, 06:24 AM   #12
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Interesting, but for myself, there's no way I can continue to do the work that I do if I want to live where I want to live. The options are just too limited. Sure, I could quit and get a job that pays 1/3 of what I'm making now. I have a couple of years to decide what to do. I may do just that - retire, relocate, then decide if I want a lower paying job.
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Old 03-02-2012, 07:20 AM   #13
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I disagree with the generally negative responses, here. This article is dated 2/29, but I saw something very similar to this a few months back, perhaps it's a retread. In any event, it provides practical advice to that tweener segment of people - making respectable earnings, have respectable savings, but not quite financially able to retire.
This provides a good middle-of-the-road approach to them, that allows them to enjoy "retirement" without endangering their long term financial solvency.
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Old 03-02-2012, 07:29 AM   #14
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Originally Posted by Midpack View Post
I read the article, and it's an option. I guess having the extra spending money from 60 on makes working more tolerable for some people - could be. But I didn't follow this sentence at all though, not sure what I missed...must be relying heavily on Soc Sec, pension or both.
I'm not sure I understand it either. There must be some sporty return and inflation assumptions embedded in there.

Reading this article made me think that people who choose this path should start their own retirement web page. It's founding principle would be that the rules of math and market history for them are different, and so are the rules for retirement itself!

Live below your means? NO.
Save enough? NO
Use a SWR? NO
Retire early? NO
Retire at all? Well, right before you draw your last breath.

Instead of FIRE (Financially Independent Retired Early), they could be FERL (Financial Exceptionalism Retired Late).

You'll notice that this would be pronounced like "feral", which is likely what they'd be after 10+/- years.
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Old 03-02-2012, 07:59 AM   #15
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In effect, they are advising people to retire but not get the benefits of retirement. So.... This makes me think there may be an opportunity here for a new line of books - sort of like the Complete Idiot series.

How to XXXX without actually "getting the benefits". For example,

How to exercise and grow weaker.

How to cook at home while ordering at a restaurant.

How to lose weight and put on the pounds.

How to get a college degree without learning anything. (Wait, that has already been done!)

How to earn 120% guaranteed return on your money without any risk while your net worth goes down!

You get the idea....
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Old 03-02-2012, 08:12 AM   #16
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Originally Posted by NW-Bound View Post
When I first read the thread title, "Retire but not quit your job", I immediately thought of the character Wally in Dilbert's cartoon.

Wally "retires in place"!

Bingo! My favorite line from Wally is his reply when asked his career goals - "To work myself into a position where I have no effect on anything."
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Old 03-02-2012, 08:18 AM   #17
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Originally Posted by Onward View Post
Next someone will do a study proving the benefits of w*rking to within five minutes of your dying gasp.
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Old 03-02-2012, 08:20 AM   #18
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Next someone will do a study proving the benefits of w*rking to within five minutes of your dying gasp.
Grateful heirs, what else?
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Old 03-02-2012, 08:24 AM   #19
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So the plan they suggest is to stay working - that alone makes me think it is not retirement - then spend all the money you used to be saving towards retirement, so you get used to a higher expense lifestyle before you actually retire. If your savings weren't enough to support retirement before, what makes anyone think they will grow so fast if not added to, that they will support a more expensive retirement later.

Wally was also my first thought on seeing the title.
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Old 03-02-2012, 09:10 AM   #20
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So the plan they suggest is to stay working - that alone makes me think it is not retirement - then spend all the money you used to be saving towards retirement, so you get used to a higher expense lifestyle before you actually retire. If your savings weren't enough to support retirement before, what makes anyone think they will grow so fast if not added to, that they will support a more expensive retirement later.

Wally was also my first thought on seeing the title.
This was, I thought, really the silliest point, even sillier than using the term "retired" for someone who still works and wished they didn't.

There's nothing better to prepare for retirement, apprently, than cranking up your "for the hell of it" spending just because they claim retirement savings in your 60s don't move the needle much. Is this how someone tries to buy consolation from the fact that they can't retire yet??
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