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Is "unretirement" the new retirement?
11-25-2019, 02:19 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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Is "unretirement" the new retirement?
This is an excerpt from an article by the Motley Fool...
"Unretirement" is the new retirement
Traditionally, workers have spent most of their adult lives employed, and either building up pensions or, in more recent decades, stashing money away in retirement accounts. Then at some point in their 60s, they leave their jobs and spend the rest of their years retired.
Today's workers, though, have a different idea of what their retirements will look like. A whopping 92% of workers currently in their 40s say they plan to keep working part-time in retirement, according to a survey by TD Ameritrade and The Harris Poll. Even among those in their 70s, 52% say they plan to continue working an average of 10 hours a week.
Additionally, many workers say they don't plan to ever fully retire. Among those in their 40s, 61% of respondents said they'd prefer to take year-long "mini-retirement breaks" while they're younger, and then work until a later age, rather than work continuously for four decades or more and then retire completely.
https://www.fool.com/retirement/2019...dont-need.aspx
I take issue with people who continue to work and claim to be retired, to me that is redefining what it means to be retired in a way that stretches the definition too far.
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11-25-2019, 02:58 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Oct 2014
Posts: 1,537
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My whole FIRE deal was to focus on the FI portion. I have been FI for 9 years. You cannot RE w/out being FI. Once you are FI you can do whatever you want. I never wanted to get down into the minutia regarding finances so I still work (32 hrs/wk) because it is interesting and I want to pad the accounts. I want to go with the fat FIRE and not have to look at the numbers and worry. I'm getting there. I will always umpire baseball and officiate volleyball. They pay me so I guess technically it's a job. Some of my friends play baseball and volleyball or coach and do not get paid. We are all there together having a good time. Sorry for collecting a check.
Is a guy like senator retired? He collects rents from some RE. IDK. To each his own. I don't get too caught up in what the other guy is doing. Good luck all.
__________________
-Big Dawg-FI since 9/2010. Failed ER in 2015. 2/15/2023=DONE! "Blow that dough"-Robbie
" People say I'm lazy, dreaming my life away Well, they give me all kinds of advice designed to enlighten me When I tell them that I'm doing fine watching shadows on the wall "Don't you miss the big time, boy. You're no longer on the ball" -John Lennon-
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11-25-2019, 03:16 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,002
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I do a little consulting and sometimes teach a online college class. I consider myself mostly retired.
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11-25-2019, 03:18 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
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In 26 years of ER I have taken the solemn pledge many times to 'never volunteer' let alone get recruited.
However truth told . At points in time one must buck up unvolunteer and relearn no and get back to watching grass grow.
heh heh heh - Reality sometimes intrudes on the ideal vision. Hobby farm getting paid CRP - 2 to watch grass grow. Spending $ and effort 'to do nothing' is interesting - very interesting. But it's a fun hobby. Right?
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11-25-2019, 03:38 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Location: SoCal, Lausanne
Posts: 4,408
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There's this one also:
https://www.amtd.com/news-and-storie...t/default.aspx
If you continue to work, then your are not retired. The reality is that a large number of people have not saved enough to retire so they have to keep working as long as they can. This is great news for those who have saved enough to retire as inflation will remain low. The only area of concern is healthcare costs. You can control some of that by staying fit and avoiding hazardous activities.
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11-25-2019, 04:14 PM
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#6
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gone traveling
Join Date: Dec 2015
Location: Berkeley, Denver, CO, USA
Posts: 1,406
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See my sig.
For me, being “retired” means not having to work.
It means we have enough FU money.
It means that my young trophy wife who works part-time retail can tell the store owner: I won’t be here for the next month while travel to Italia/France.
It means I can tell my customers that their websites won’t get updated for month.
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11-25-2019, 05:10 PM
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#7
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Full time employment: Posting here.
Join Date: Dec 2017
Posts: 943
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For me, FIRE was about FI and TI (time independence), in other words the freedom to do what I want when I want. I think that is what I have enjoyed the most so far in my retirement. I volunteer, but because I want to, and when I want to (not having to squeeze it in, like when you were working). I have no desire to work, in my mind, you are not really FI if you need to work part-time after you “retire”.
__________________
FIREd at 59.5 on 2019-01-18
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11-25-2019, 05:28 PM
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#8
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,302
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__________________
When I was a kid I wanted to be older. This is not what I expected.
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11-25-2019, 06:52 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,233
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Well retirement for me means never to work again, at least for now 2.3 years in.
__________________
TGIM
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11-25-2019, 07:08 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,363
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IMO with the exception of RE'd folks who volunteer or have a very part-time hobby-job, you're either retired or you're not.
FIRE is the newest trendy thing to be but if you need to do something to make ends meet...even a little bit, you're not FI, you're not RE; all you are is kidding yourself. A dangerous thing to be when it involves money and your future.
Sorry kids; making money blogging is great but you're not retired, you're working. On your blog.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
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11-25-2019, 07:37 PM
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#11
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Full time employment: Posting here.
Join Date: Oct 2016
Location: Pinetops
Posts: 521
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I retired from Full Time W*rk two years ago - 2 days before my 57th Birthday. After about three months, I felt the need to pick up 10-12 hours a week of part time w*rk. I handle the accounting for a small local florist (2 days a week.). The money received is minimal and I receive no benefits whatsoever - I just enjoy going to a shop 2 days a week (to occupy some time.). My friends sort of smirk when I tell them this but I’m just a spreadsheet junkie that likes to play with numbers. Does this activity count as my being non-retired ? Nope and I don’t really care what someone else “thinks.” I’m retired, and perfectly content with a side hustle that complements the rest of my daily life.
__________________
I
ER 12/15/2017
Now: Side Hustle(r) Extraordinaire
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11-25-2019, 08:05 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,002
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I don’t have a lot of hobbies so a little work is fun. But I have no set hours and do it when I want. We are fine without the money.
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11-25-2019, 08:31 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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The term "Working in or after retirement" is in vogue. It implies that being retired doesn't mean that you have to stop working. I guess the meaning of retirement is that you are no longer working for a long held job or career to earn a paycheck to support your entire living expenses.
__________________
May we live in peace and harmony and be free from all human sufferings.
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11-26-2019, 04:43 AM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,363
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Quote:
Originally Posted by Spanky
I guess the meaning of retirement is that you are no longer working for a long held job or career to earn a paycheck to support your entire living expenses.
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To me, that's the criteria. Are you working for fun and to stay busy or are you working because you still need a bit to make ends meet? If you need to make ends meet you're not retired nor are you FI, IMHO. Otherwise, you're just trading one job for another.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
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11-26-2019, 04:53 AM
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#15
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Recycles dryer sheets
Join Date: Oct 2012
Location: Minneapolis 'burbs
Posts: 382
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I get annoyed by the term "mini-retirements". There's already a word for that - a sabbatical.
I think a lot of this is just the human desire to label things, when people have more options to work in different ways than ever before. Eh, just do your thing and enjoy yourself!
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11-26-2019, 04:56 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Michigan
Posts: 4,964
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Quote:
For me, being “retired” means not having to work.
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For me, it means not having to go to work, ever.
__________________
"The mountains are calling, and I must go." John Muir
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11-26-2019, 05:09 AM
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#17
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Thinks s/he gets paid by the post
Join Date: Nov 2008
Posts: 3,395
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This article seems to pair well with the hundreds of articles about the lack of retirement savings etc. and the millions of people nearing traditional retirement age who have not prepared for it. Most, although not all, seem to rationalize their situation with wanting to continue working. Really? All the hundreds of articles about people hating their jobs and they want to continue? How many here have said they couldn't wait to get away from their particular "rat race" and told about so many of their co-workers that would like to do the same?
The survey may be accurate but I think many of those responding are not being truthful.
Cheers!
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11-26-2019, 05:31 AM
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#18
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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Quote:
Originally Posted by Badger
Most, although not all, seem to rationalize their situation with wanting to continue working.
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Exactly. Some people do not want to admit that they cannot afford to retire, so instead they claim to be retired while still working. Nifty trick isn't it?
There seems to be no consensus on what it really means to be retired, even some people on this board think that you can continue to work and be retired.
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11-26-2019, 07:31 AM
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#19
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Thinks s/he gets paid by the post
Join Date: Jan 2014
Location: Bloomington, MN
Posts: 1,137
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I said goodbye to corporate america when I was 55. I happily collect my pension and enjoy retiree healthcare benefits. I then went out and got my real estate license and have thoroughly enjoyed it.
I consider myself semi-retired. I pick and choose who I work with and take February off to head to Florida.
I don't need the money but I don't mind padding the portfolio either. unicuique sua
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11-26-2019, 07:44 AM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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Quote:
Originally Posted by JustCurious
I take issue with people who continue to work and claim to be retired, to me that is redefining what it means to be retired in a way that stretches the definition too far.
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+1
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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