Some early retirees have second thoughts

[wolf]

Just my 2 cents. But $52 K can be a lot of income depending on the State you live in. However, I live in California, and depending on one's "debt structure", $52 K is not a huge amount!

[Purron]

Actually, I have tossed around the idea of returning to work. Not only because of the market downturn and reduced home values (we have two propterties) but also because, at times, I feel a need to re-connect and contribute. I retired in January and enjoy the freedom very much. Even so, I think there are things yet for me to do other than volunteer work, home improvements, Costco visits to save a buck and endless vacations.

[REWahoo]

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Originally Posted by Purron Actually, I have tossed around the idea of returning to work. Not only because of the market downturn and reduced home values (we have two propterties) but also because, at times, I feel a need to re-connect and contribute. I retired in January and enjoy the freedom very much. Even so, I think there are things yet for me to do other than volunteer work, home improvements, Costco visits to save a buck and endless vacations.

We who are about to collect Social Security (or already do) salute you!!!!

[cute fuzzy bunny]

Cue the AC/DC soundtrack....

[unclemick]

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Originally Posted by REWahoo We who about to collect Social Security (or already do) salute you!!!!

Katrina 2005 August. Early SS Oct 2005 - I decided perhaps I wasn't bullet proof.

June 1966 - Hyatt Hotel stock on my broker's advice. T Rowe Price New Horizons fund. By 68 - I was a legend in my own mind - with a new sport's car, Penthouse - nothing but blue sky ahead.

The 500 Index didn't come till later and Mr Market proceeded to beat me around the head and shoulders with a wet squirrel while Boeing urged me to turn out the lights - if I was the last person leaving Seattle.

heh heh heh - I don't need no stinking advisor - I already paid for my education! .

[CuppaJoe]

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Originally Posted by ejman Well, no. I had been working overseas for 6 years so had quite a bit saved which I proceeded to invest when I got back home. At the time I was not really aware of investing history and that volatility is par for the course. All I knew is that the 1929 crash was here again and I'd been foolish enough to blow my hard earned stash.

Yikes! Without 20 questions we don't get it. You say you stayed in and recovered? Are you still in stocks? Could you weather a 25% drop now?

[ejman]

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Originally Posted by CuppaJoe Yikes! Without 20 questions we don't get it. You say you stayed in and recovered? Are you still in stocks? Could you weather a 25% drop now?

I was so paralyzed by fear back then that i did nothing for a year - left my investments as they were. Then I noticed that my investments had nicely recovered pretty much as if the crash had not happened. I continued investing during the rest of my working career until I ER'd in December 2002. I am (have been since ER) following the 60/40 allocation with periodic adjustments (another thread). All of my annual reallocations so far have been selling stocks (inside my IRA) to bonds. I suppose if there was a 25% drop I would have to go in the opposite direction but yea, I would certainly remain in stocks. I have 5 years expenses in ready asset funds that would hopefully cover a 25% (or worse) drop and all simulations I've run seem Ok so.....

[Purron]

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Originally Posted by REWahoo We who are about to collect Social Security (or already do) salute you!!!!

Yup, I saw than one coming REWahoo. It's the standard response around here for those who do or consider working again. I've read comments like this time and time again. Why is that? I doubt it's a genuine gratitude for keeping social security afloat.

[73ss454]

Nope, it's a smart ass remark. But since this is a retirement forum what do you expect.

I for one think it's great and I also thank you.

[REWahoo]

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Originally Posted by Purron I've read comments like this time and time again. Why is that? I doubt it's a genuine gratitude for keeping social security afloat.

For someone who is happily retired and cannot imagine returning to work except in a financial emergency, it is a way of trying to find something good in an otherwise depressing scenario. Support for Social Security is the only silver lining I can find in the dark cloud of giving up retirement.

[REWahoo]

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Originally Posted by 73ss454 Nope, it's a smart ass remark. But since this is a retirement forum what do you expect.

I like my explanation better.

[73ss454]

You are much better than I am at explaining things. (heh)

[Purron]

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Originally Posted by 73ss454 Nope, it's a smart ass remark. But since this is a retirement forum what do you expect. I for one think it's great and I also thank you.

Guess I expected more - like a discussion of the struggles and doubts many of us go through upon retirement. It was a mistake to look for anything other than a put down at the very idea of returning to work. Lesson learned.

[73ss454]

I'm retired almost 2 years now and live off my port. I too have my struggles and doubts but returning to work is just to extreme for me. I'd rather cut my expenses, right after I get done putting in the pool.

[W2R]

I haven't retired yet, but I cannot imagine actually wanting to go back to work. To me, working is too similar to slavery.

I am not meaning to be criticizing anyone, especially Purron. I just can't quite wrap my mind around the idea.

[CuppaJoe]

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Originally Posted by ejman I was so paralyzed by fear back then that i did nothing for a year - left my investments as they were. ....

Sounds like a true success story after a rocky start. Paralysis was just the thing! same result as "staying the course" or "buy and hold." I think what was in the back of my mind then was "if you are young and/or long term, you have time to recover."

[CuppaJoe]

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Originally Posted by Purron Actually, I have tossed around the idea of returning to work. Not only because of the market downturn and reduced home values (we have two propterties) but also because, at times, I feel a need to re-connect and contribute. I retired in January and enjoy the freedom very much. Even so, I think there are things yet for me to do other than volunteer work, home improvements, Costco visits to save a buck and endless vacations.

--
Purron, I've been trying to come up with something to type about this. I would imagine fostering kittens would be wonderful and rewarding but lonely. If by re-connecting you mean you enjoyed the social aspects of the j*b then maybe you would be happier going for that.

For me, one of the big pluses in leaving the j*b is that the social situation there was sucky; I like a lot of time to myself, but had too much of it there. I doubt I will ever miss the conversations with "current client in crisis."

I know the difference between a fostered kitten and a cat that is taken in from the street, you are contributing a lot doing that. What does "contribute" mean to you?

[Nords]

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Originally Posted by HFWR Tougher, AND more mature...

And with a longer attention span, too!

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Originally Posted by ejman I wonder how many of us would be cool calm and collected after a day like that. (I sure as hell wasn't -I was so scared that I froze and did nothing for a whole year fortunately as it turned out)

Spouse and I were pretty excited. We skipped school that day and stayed home vacuuming the furniture for spare change to send to Fidelity. We pretty much flattened our savings account and put it into the market. 1988 turned out to be a very good year...

Quote:

Originally Posted by Purron Yup, I saw than one coming REWahoo. It's the standard response around here for those who do or consider working again. I've read comments like this time and time again. Why is that? I doubt it's a genuine gratitude for keeping social security afloat.

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Originally Posted by Purron Guess I expected more - like a discussion of the struggles and doubts many of us go through upon retirement. It was a mistake to look for anything other than a put down at the very idea of returning to work. Lesson learned.

OK, you want a critique, you're asking for it.

First, what the heck did you do to prepare for retirement? Did you not see the vast vistas of unoccupied time stretching out in front of you? Did you miss the hundreds of posts with the phrase "responsible for your own entertainment"? Was this all somehow unforeseen and unplanned for?

Second, and I hope this isn't your situation, but returning to work after so short a period is frequently an indicator of (1) an inadequately-capitalized ER portfolio (as CFB already mentioned) and/or (2) a suddenly-discovered intolerance for volatility. Hopefully neither of those were ER surprises to you either. I'm not accusing you of these reasons but I feel they're far more common than most retirees care to admit.

Finally, what kind of short-term thinking are you under? Eight months and you're already throwing in the towel?!? Have you already read everything that Zelinski has written? Have you nothing to learn from Nelson Bolles' "What Color Is Your Parachute For Retirement?" Have you read any of Marc Freedman's books? Have you done any introspection or other planning for your return to the working world? Are you already in peak health, in fighting trim, and ready to take on the corporate struggle again?

Or are you just seeking the comfort, security, and structured environment of the closest cubicle?

The reason I'm asking these questions is because you seem to have done some planning for ER, only to throw it away less than a year into what could be at least three decades. I'm not sure what different sort of planning you've done that would make you feel that a return to work has any better chance of success than your ER attempt. And then there's the whole issue of what you're going to do differently if you decide to ER again.

At least Walt34 is returning to work to pay for his interests. He had a drug toy problem but now he makes enough money to afford them. He gets free ammunition, too.

I'm over six years into ER. I have way more things I want to attempt than I have time to properly attempt them. Some days/weeks I do such a lousy job of managing my time that I'm exhausted by 4 PM or by Tuesday evening. Heck, I don't even make the time to do as much surfing as I want. And while I don't object to the concept of paid employment, I certainly can't put up with all of the dissatisfiers that I had to endure for all my working years. I just don't get it.

Let the discussion begin.

[ladypatriot]

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Originally Posted by Purron Guess I expected more - like a discussion of the struggles and doubts many of us go through upon retirement. It was a mistake to look for anything other than a put down at the very idea of returning to work. Lesson learned.

Well, with a disclaimer that I haven't been on this forum all that long so I might be dead wrong, it seems that there are prevalent themes that pervade most threads: retirement is good, a well-planned retirement is better, and an early well-planned retirement is best.

A discussion of the "struggles and doubts many....go through upon retirement" can be interpeted in different ways. Some people struggle to fill their retirement day with meaningful activities, and doubt that retirement will bring them fulfillment; so they want to discuss going back to work in some fashion, whether part-time or full-time, perhaps in a career change. For them, working brings purpose and meaning to their life that they couldn't find in retirement. This is a philosophical discussion, and there are members with strong opinions on this dilemma. Fortunately for you, those members who won't hesitate to share those strong opinions with you.

On the other hand, if the struggles and doubts are about financial security, then the issue becomes a financial discussion. More specifically, it becomes a discussion on careful financial planning for retirement. A potential retiree (early or otherwise) should consider his/her planning in light of financial market history, both the highs and the lows, and the rough waters in between.

Retirees who want to rush back to work because the market is having a hiccup, a cough or even prolonged vomiting, should consider that these financial illnesses come along every several years, and whether you'll want or need to rush back to work each time.

But I'm not an expert; heck, I'm not even really retired yet. I'm just married to a guy who has been retired for two years and whenever my financial stomach starts to lurch along with the market, DH reminds me that we could, if we needed to, live on less than half our SWR.

FWIW, the cast of characters in this forum are generally well-meaning. Some are brusque and even curmudgeonly (and you know who you are ), while others are easy-going and good-natured, some are funny, witty and often sarcastic, others seem serious and more thoughtful. But this is a forum for people who are retired, who want to retire, who want to retire early, and for people who enjoy retirement.

[Moemg]

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Originally Posted by Purron Actually, I have tossed around the idea of returning to work. Not only because of the market downturn and reduced home values (we have two propterties) but also because, at times, I feel a need to re-connect and contribute. I retired in January and enjoy the freedom very much. Even so, I think there are things yet for me to do other than volunteer work, home improvements, Costco visits to save a buck and endless vacations.

I retired in Nov. 2006 and returned to work one day a week in Mar.2007 . I was financially ready but not totally mentally ready to retire . I was more concerned about social interaction since most of my friends were still working . Well in Jan. 2008 I retired for good . I was ready to get a different life . I found the gym to be a good place to meet friends and I started selling on ebay ( as a hobby not to supplement my income but it does produce some fun money ) . A lot of us that have worked most of our lives go through that feeling of lacking to contribute to society and we either get past it or we return to work and there is nothing wrong with that . Reading the board this feeling seems to affect the woman more than the men not sure why . Good Luck in whatever you choose !