Those who plan to ER in their 30's/40's...are you unfulfilled by your career?

[Spanky]

My personal goal is to retire at age 52-53 with a solid 30 years in the working world. Hopefully by this time I have enough retirement savings as well as income-producing investments to allow for a comfortable lifestyle in my golden years. I plan "ideally" to escape the cornfields of Iowa to my retirement in sunny San Diego in a comfortable condo with views of the pacific. I've always felt that waking up every day in a city with perfect weather, beaches, sunshine, and an easy-going vibe would make me a happier person than dealing with snow, sleet, tornadoes, hail, excessive humidity, etc.

Maybe my personal goals are a bit lofty but I figure I have 30 years to hopefully plan for such a lifestyle.

Your goal is realistic. I too want to get away from the cold, chilly climate and reside in sunny California during my retirement years. San Diego or anywhere at the CA coastline would be ideal.

 

[nash031]

... As an outsider looking in...being retired at such a young age seems like it would lead to an unsatisfying existence.

In the company I work for, quite a few people in their mid to upper 40's have some of the best positions. Often times these positions pay upwards of $150K/ year, there is a decent amount of travel involved, and you truly are the manager of a small facet of a large company...

So for those wanting to ER in their 40's...my question is why? Are you sick of work period? Does your company allow for no room to grow into better/more interesting opportunities? Do you simply want to spend more time with family?

If you enjoy what you do...is it really even "work"? Of course everyone has their bad days but when you have a job that leads to some type of self-fulfillment, why would you want to ER?

Inquiring minds...

So I am 36, just now playing around with the idea of ER in my 40s. I have had one of those positions where I was in charge, dictated my own daily schedule, and had to travel. The other aspect that came with running the show was the fact that I was never truly "off", even on vacation. I got phone calls, emails, text messages, all telling me things "just so I would know when I got back". My wife deals with this at 32 in a Director position. Her time is rarely hers. Few evenings go by without a call, text, or email from a client or someone in her charge. It grates on you after a while.

Money, once viewed as a means to various ends, is now viewed as a means to one end: independence - the ability to do what I want, when I want to do it, and without the say so of someone else, whether I work for them or they work for me.

I am tired of working, yes, and I don't necessarily enjoy what I do every day (my wife loves her job... she may work longer than I do - I'll have no problem being a kept man!). But every day that passes where I do what someone else wants me to instead of what I (or we) want to do is a day wasted.

I'm not going to look back on my life and think "I was once the _______ at Megacorp." I'm going to think "I hope I was a great husband, (maybe a great father/grandfather if we have children), and I got to see ________ and do __________. I've led a full life!" Work, to me, is a means to get to that end, and the less of it I have to do to get there, the better!

 

[nash031]

I really enjoyed reading all the replies...it definitely gives someone like me, a young "go-getter", some perspective as to why anyone would retire at an age when you should be nearing the peak of your earning potential.

My idea of an early retirement was retiring in your lower to mid 50's before I ever heard of this forum. The idea of calling it quits at 45 seemed to be preposterous unless you inherited a boatload of cash or made gobs of money in the stock/real estate boom.

My personal goal is to retire at age 52-53 with a solid 30 years in the working world. Hopefully by this time I have enough retirement savings as well as income-producing investments to allow for a comfortable lifestyle in my golden years. I plan "ideally" to escape the cornfields of Iowa to my retirement in sunny San Diego in a comfortable condo with views of the pacific. I've always felt that waking up every day in a city with perfect weather, beaches, sunshine, and an easy-going vibe would make me a happier person than dealing with snow, sleet, tornadoes, hail, excessive humidity, etc.

I live in a house with a view of the Pacific (OK, well, from my driveway), and yes, I do not miss Indiana from that standpoint. Perfect weather - check. Beaches, sunshine - check. Easy going vibe - well, if you work here, it's the same stress as anyplace else, you just get to escape it on the weekends a little bit better than some others.

Like you, I hope to retire here, and the sooner the better. Believe me, I'm not going to miss the commute on the 5 or seeing how great it is outside while I'm stuck inside or on a ship all day! Instead, I'll just go be out there!

 

[Ready]

I retired to a home on the beach in Southern California after working very hard since graduating college. We paid off the home last year and thoroughly enjoy being by the beach and having the beautiful weather every day. So, in case you were wondering...I can assure you - it's great!!

 

[LoneAspen]

I plan on (semi?) retiring at the age of 48, in early 2015. Except for two years spent doing real estate (which I loved), I've been in the IT field for almost 30 years (I've been working with computers and IT in some form or fashion since I was about 17 years old), and I've grown jaded and bored. It simply doesn't interest me anymore, and in the grand scheme of things, I find the work I do boring and meaningless.

I tried to escape all that with my first career change (not just job change, but a career change) in 2005 when I got my license and started practicing real estate. I loved it. For the first time in my life, I was working for myself, with no boss, projects, or schedules hanging over me. I just couldn't make it last due to the economy. 2005 was probably the WORST year to get involved in real estate, and I lost every dollar I had.

If I'm blessed enough to walk away from where I'm at with a life-changing windfall in 2015, I am leaving the IT field forever, and never looking back. If I do choose to work again, it will definitely not be in IT, nor be for another person. I'll run my own business of some type. But I'm taking at least 2 or 3 years off to travel and enjoy the world before I even think of something like that. I want zero responsibilities for a couple years, with nobody to answer to but myself (I'm not married, and have no kids, so that makes it easier for me to do that than most people).

And even if I do start my own gig, be it real estate or anything else...the day it stops being "fun", or rewarding, is the day I'll shut the business down.

Regarding the OP's statement about management...when I had to give up the real estate thing and get back into IT, I decided I was going to try climbing the ladder a bit more, something I hadn't really done before, as I was content to be a worker bee. I assumed a management role for about 6 months when my boss got promoted, and I took over our team.

HATED IT. I detest office politics, and I didn't realize how much my manager shielded us from all the BS that went on at the executive level. All of a sudden, I had to deal with all that crap, and I hated it. I also hated dealing with interviewing, hiring, salary reviews, performance appraisals, and all that other paperwork BS crap that goes along with managing people. The final straw was realizing that when you're a manager, ALL your peoples' problems are YOUR problem.

No thanks. I lasted 6 months, and then went to a new company. I have no plans to pursue a "management" job again, unless it's me running the show at my own place, in which case I'll delegate all the junk I don't care to do to somebody else (it's good to be the king, right?)

My .02...

 

[Ozstache]

Like ArizonaDreaming, I too had strong career aspirations in my early 20's of reaching lofty heights in megacorp. And like many posters in this thread, I too had a change of heart as I climbed the corporate ladder and FI edged ever so much closer. Once FI is achieved, it is amazing how you get that lotto-winning like feeling and wonder how you ever put up with all that BS that is suddenly is so obvious, but that was seemingly so tolerable for so long. RE may shortly follow.

In short, don't be too surprised to find that the "fire" of your ambition at the start of your career is what can lead to the "FIRE" that prematurely ends it.

 

[Spanky]

In short, don't be too surprised to find that the "fire" of your ambition at the start of your career is what can lead to the "FIRE" that prematurely ends it.

It's called victory at last or the end of suffering.

 

[FUEGO]

Work is instrumentally valuable in that it provides me with an income that has allowed me to accumulate sufficient wealth in a short period of time and will allow me to do whatever I want to do at a very early age.

Some days it has been fun, others boring, occasionally stressful or emotionally draining. The good times are mixed with the bad. I try to find things to do that are interesting and keep myself engaged, but not too much (since then I would be identified as a high performer and relied on too much).

I sort of look at work (since I'm close to FI) as a volunteer position and try to find things that I like to do or that I'm good at. The difference is that they pay me here in exchange for me showing up for some minimal amount of hours and putting forth a minimal amount of effort.

Over time new experiences lose their novelty. Sitting in a fancy office is neat at first. Then you realize you have decades more of your life to sit in a similar setting. The first few times you hire someone it is cool. Then it is merely admin work. Managing your first million/100 million/billion dollar project is an awesome responsibility. Then it becomes drudgery. Being clever enough to navigate your group/org through choppy waters without foundering is amazing the first couple of times. Then you start noticing a bunch of dipshits on the side of the canal that are causing the erratic currents you are suffering through due to their poor planning or overzealous ambitions and lack of foresight.

 

[LoneAspen]

^^ Fuego's reply above is exactly how I feel about IT work, and especially development (programming). The first few systems or programs you create are challenging and fun. But after almost 30 years of doing it, I've realized that all these systems do basically three things: Take input, process it, and create output. That's it.

The output could be a report, a screen, a worksheet, an application, whatever. But it's still pixels on a screen, or printed on paper.

The only thing that varies from project to project is the amount of: unrealistic expectations, insufficient requirements, upset customers, unneeded meetings, overabundance of politics, land grabbing, etc, that get in the way.

It just gets old. Real old.

But hopefully, 18 more months and I'm done to the point I can walk out the door and never have to work another IT job ever again.

 

[Ready]

LoneAspen,

Just curious, but is it possible for you to get back in to real estate part time while continuing with your IT job, and eventually retire from IT and move into real estate on a full time basis? The market seems to be coming back now, so the timing may be pretty good to do so.

Doing the same thing for 30 years would likely bore almost anyone. Why not make a change into something you like doing?

 

[LoneAspen]

LoneAspen,

Just curious, but is it possible for you to get back in to real estate part time while continuing with your IT job, and eventually retire from IT and move into real estate on a full time basis? The market seems to be coming back now, so the timing may be pretty good to do so.

Doing the same thing for 30 years would likely bore almost anyone. Why not make a change into something you like doing?

Good question...

A couple things would prevent me from doing that. First, the job I currently have is at a pre-IPO startup which is experiencing crazy growth, and demands 100% of my attention. Having been an agent before, I know the work involved in marketing yourself and building your brand, and I would have zero time for that right now. To me, building a successful real estate practice isn't as much about buying or selling homes as it is a sales job. You have to market yourself, generate leads, qualify them, and work towards a closing. It's basically a sales pipeline that you have to cultivate, and I just don't have any spare cycles to devote to that.

The second reason...I'm a firm believer that to be successful in real estate (especially as a buyer's agent, which I preferred over dealing with sellers), I couldn't do it part time. For example, when a buyer calls up and wants to set a showing on a house they found (such as doing their own research on a web site), they're not going to wait until I'm off work or on a weekend. They'll go find another agent to work with. At least, I would. As a client, I would expect my agent to be 100% dedicated to their practice, not juggling a 9-to-5 job and doing it on the side. Since I would expect that level of commitment as a client, I couldn't offer anything less myself. I'd have to do it full time, or not at all. That's just my own personal preference, based on how I know I work - I'm more of a single-tasker than a juggler.

 

[BizzyC]

I'm 47, retiring next year at 48.

From my perspective, I would say that I was very fulfilled by having met (and really exceeded) my aspirations career-wise. Fantastic experience, exactly what I wanted to do with the first half of my life. But, at this point in my life, the career thing, it's been done.

Thankfully said career thing has worked out well financially, so on to the aspirations for the second part of my life.

 

[jime444]

Thanks, Onward for the kind words. Most of my thoughts have already been captured by the previous replies. I HAVE worked at interesting, inspiring places; actually, more than most of you, probably. However, the "good, inspirational work" doesn't seem to last, does it?

Interesting, inspiring, motivating work also seems to come at a price. Usually, it's in the form of risk, reduced benefits or lessened monetary compensation. I worked in a number of small businesses and start-ups early in my career and though, the work was interesting, as I reached my late 30's, that increasingly became less of a priority. Financial security for my family, benefits and compensation for my efforts became my primary goal. I reached my 40's with lots of worthless stock options and not much other to show for the extraordinary effort I had put forth early in my career. A medical challenge at 40; in my opinion due to some of the long hours and stress earlier, re-focused my goals as noted above. My only regret, is that I didn't find compatriots like most of you, just a bit earlier.

Now, with my life under reasonable control, health getting better and FIRE just a year or so away, I can only counsel others. Please make sure you listen to your elders. Not all of what they say, is BS.

Good luck to you all in FIRE.

 

[Redbugdave]

"Those who plan to ER in their 30's/40's...are you unfulfilled by your career?"A career and retiring in your 30s or 40s? That ain't no career! Heck...You just got comfortable finding your way into work! You need to suffer at least 30 years at something to have a career! I would rename this thread to something like, "I just started my job and want to retire since I don't care to work anymore"...

 

[CoolChange]

I'm 47, retiring next year at 48.

From my perspective, I would say that I was very fulfilled by having met (and really exceeded) my aspirations career-wise. Fantastic experience, exactly what I wanted to do with the first half of my life. But, at this point in my life, the career thing, it's been done.

Thankfully said career thing has worked out well financially, so on to the aspirations for the second part of my life.

This sums up my feelings almost exactly. Although, I may be a bit more burnt out at this point.

I am actually a bit higher in my management career than I ever expected. My next step up would be either CEO, COO or something similar at my company or a similar junior executive position with more people, budget, etc. (headaches) at a larger company; and, I want no part of either.

During the career, I have done some mildly interesting things and collaborated with some brilliant peopled. Said career has also funded a reasonable, not lavish, lifestyle and hopefully long retirement.

It is now time for me to move on to something else while I still have health, energy, etc. (Although, my initial decompression plan of sitting around doing absolutely nothing for a few months should not require much of either.)

 

[Sea Kayaker]

This thread has been a great read. Some of these posts so closely echo my thoughts on ER its a bit eerie...

Anyway, I'm ER'ing within the next 6 months at age 42... the last half of my life lies before me, and I couldn't be more excited. It's a bit scary in that money won't be as plentiful as it was during my working years - but as others have said, at some point, TIME becomes much more desirable than MONEY. I reached this point in the last couple of years. I'm fortunate in that many of the things that feed my soul cost nothing to do - paddling my kayak amongst a pod of orcas gives me a feeling that my company Christmas bonus never could.

 

[scrabbler1]

I'm 47, retiring next year at 48.

From my perspective, I would say that I was very fulfilled by having met (and really exceeded) my aspirations career-wise. Fantastic experience, exactly what I wanted to do with the first half of my life. But, at this point in my life, the career thing, it's been done.

Thankfully said career thing has worked out well financially, so on to the aspirations for the second part of my life.

Well put, BizzyC. I had a good career, too. I got some good raises in the 1980s when raises were big. I got promoted a few times but knew in 1995 that I would rise no higher. The work was still good but was on the decline somewhat. I was still doing very well financially, so my ER plans began to take shape as I knew in my mind that my career would end some time soon.

I welcome the chance to use some of the PC skills I learned on the job in my everyday life such as in my volunteer work. To the outsiders who are not proficient at Excel, for example, the things they see me do amaze them even though they are fairly routine tasks for me (which is a nice ego trip, I admit). I hope you get the chance to use what you have learned in your ER life.

 

[LoneAspen]

I'm fortunate in that many of the things that feed my soul cost nothing to do - paddling my kayak amongst a pod of orcas gives me a feeling that my company Christmas bonus never could.

Amen to that. I think back to when I wasn't making much money, and living in an inexpensive apartment in Denver, but going up to Yellowstone every summer and doing some hiking and loving it.

I want to recapture as much of those simple things again as much as I can, except without a boss/job/projects/deadlines hanging over me.

 

[Jay_Gatsby]

Some folks are indeed motivated to retire in their 40's. They save to become financially independent, with this goal in mind.

I *may* retire early, but this is not my motivation.

If perception colors reality, perhaps my view of the world is darker than it truly is. However, I can't shake this gnawing feeling in my gut that my generation is much less secure, and our outcome much less certain than my parents or grandparents before me.

I save as much as I do to be financially secure, and independent as a goal in and of itself. Once I'm FI, I will be free to take greater risk, and take more interesting work without worry of what will happen if I fail.

I do realize at some point after I'm FI, that interesting work may not be as rewarding as pursuing my hobbies, and spending time with family. I will make that decision when I come to it.

It's important that you have something to retire to, not simply a job you're escaping from.

Never heard this expressed before. Conventional wisdom says to take risks when you're young, since you'll have plenty of time to recover from them. The main downside to waiting to take risks is that you will likely have a family that is dependent on you, a mortgage, need health insurance, etc.... This is why many people who are FI in their 40s don't take the plunge.

Yet I can't help but agree with this upside-down view of entrepreneurship. By the time you're FI, you know how to take smart financial risks and won't get in over your head when starting a business, new career, etc.... You will have too much to lose and will be far more careful with your money (and investors' money) to put anything at significant risk. I've actually seen successful salespeople at my various companies strike out on their own, or join a start up company as a C-level employee, once they are comfortably FI. These individuals would appear to have a greater success rate than their much younger counterparts, perhaps due in large part to knowing their industry, having significant contacts they can leverage for business, etc...

 

[brewer12345]

Amen to that. I think back to when I wasn't making much money, and living in an inexpensive apartment in Denver, but going up to Yellowstone every summer and doing some hiking and loving it.

I want to recapture as much of those simple things again as much as I can, except without a boss/job/projects/deadlines hanging over me.

As I grit my teeth and try to gut out the final 6 months, getting outside and doing simple stuff like fishing and hiking is all that is keeping me sane.

 

[ICNTR]

I enjoyed my job and my megacorp. I was making good money working on good projects with great and fun people. However, it was not my passion.

We all have a limited number of life-hours and after becoming FI, I determined that I had invested enough of them into my professional career. My new goal was to find out where and how to invest the rest of them.....however many I may have left.

I retired at 41 a little over a year ago. Love it. I feel very blessed. It is anything other than an unsatisfying life. I now do what I want when I want. That is a real freedom enjoyed by very few so I am grateful. In the spirit of full disclosure though, I still do occasional contract work, when I want and if I want, for old megacorp. I just make a much, much higher rate for doing it now. I will do that until it isn't fun anymore.

Early retirement doesn't have to be unsatisfying. To the contrary, it simply provides the freedom and options to maximize satisfaction. I don't think many jobs truly offer that regardless of the position.

 

[Spanky]

This thread is a solemn reminder that people should pursue their passion or do they really want to do once FI is reached since so many options become available and life is finite. Having said that, I wonder why I am still working. The reason, I think, is fear of running out of money even though the probability is small.

 

[brewer12345]

This thread is a solemn reminder that people should pursue their passion or do they really want to do once FI is reached since so many options become available and life is finite. Having said that, I wonder why I am still working. The reason, I think, is fear of running out of money even though the probability is small.

I spent a lot of time worrying I would have enough, but I finally got to the tipping point where I figured out that I would make it work, had thought through contingency plans, and have simply had enough of the rat race. When you consider all the risk and pain it took to get to where you are, the challenge of making your stash last pales in comparison.

 

[Sea Kayaker]

I spent a lot of time worrying I would have enough, but I finally got to the tipping point where I figured out that I would make it work, had thought through contingency plans, and have simply had enough of the rat race. When you consider all the risk and pain it took to get to where you are, the challenge of making your stash last pales in comparison.

I hear you, Brewer...

Without my employment income, my wife and I will still be able to save at minimum $4000 every month - my wife wants to work for another 10 years or so. Our net worth is closer to 2 million than 1 million. We have no debts, kids, and in all likelihood I am going to inherit a seven figure sum in the future.

Yet I find myself still fretting about leaving my job... I am starting to think it may stem from a fear of dissapointing people I care about rather than a fear of not having enough money. Whatever the case, it is a problem for me right now.

 

[ICNTR]

I hear you, Brewer...

Without my employment income, my wife and I will still be able to save at minimum $4000 every month - my wife wants to work for another 10 years or so. Our net worth is closer to 2 million than 1 million. We have no debts, kids, and in all likelihood I am going to inherit a seven figure sum in the future.

Yet I find myself still fretting about leaving my job... I am starting to think it may stem from a fear of dissapointing people I care about rather than a fear of not having enough money. Whatever the case, it is a problem for me right now.

I can relate to this. Situations sound quite similar except I do not have the inheritance coming. I finally came to terms with the fact that there will just always be some risk of not having enough....no matter what. I was okay with the unlikely "worst case scenario" of having to someday go back to work. Not really too bad of a deal even if I can't make what I once did.

The disappointing people is another very real concern. Some of my family was happy for me while others just didn't get it. They just believe every able body should work until they are unable. It does bother me but I am learning to deal with their disappointment. That is probably why I do the temporary contract work though. Now they are actually starting to believe that I own my own business and am actually 'contributing'..LOL. What we will do for the approval of others! (Insert deep psychological analysis here)