New retirement plan - keep working!

laurence · 03-10-2005, 07:28 AM

In a recent Associated Press-Ipsos poll, 63 percent of those who have not retired said they thought they would work for pay after they retired. The reason given most often was “to stay busy,” followed by “to make ends meet” and “to have enough money for extras.”

http://www.msnbc.msn.com/id/7140314/

So, anyone here doing this or planning to do this? Definitely not for me, but I guess that's why I'm here....

playaman · 03-10-2005, 10:00 AM

Thanks for the link to the genuinely interesting article.

I think the Boston College professor quoted in the article is exactly right -- many persons, given a choice and the opportunity, are choosing to retire in stages.

A year ago I moved into semi-retirement and in two years, I intend to become fully retired (the summer of my 60th birthdday). And, I can hardly wait...

Even so, just because I enjoy it, I hope to continue doing some freelance writing and consulting. as well as remain on a commercial board and continue to teach an occasional course at a nearby state university. I think that is the kind of transitional retirement to which the good Boston College professor refers.

The thought of remaining in a mandatory office/ 8-5 routine, however, depresses me, even if it is a zero-stress job. I am now at FI; the next stage is RE in whatever modified format that might take. Life is too short to do otherwise.

Playaman

RockMiner · 03-10-2005, 10:19 AM

This is a question I'm also grappling with. I'm not strongly opposed to working part time after ER...IF I could find a job that was flexible, reasonably interesting, and low stress. $$ is not that important.

I'll risk being burned for heresy: I don't greatly dislike work, just the burnout of doing the same stinkin' thing for 25+ years.

I'd go for SER = Semi-ER, if it was on my terms.

laurence · 03-10-2005, 10:25 AM

I'll admit, I'd love to do a little financial planning/tax prep on the side, my step mom loves it, maybe 300-400 hours a year, provides all the mad money my parents need. That's the only thing I'd do after ER/FI

azanon · 03-10-2005, 10:41 AM

I with the author of "Your Money or Your Life" on work. If you're doing some activity for pay, you're still working.

AFAIK, someone saying their partially retired to me would be like a woman telling me she's sort of pregnant (or sort of not-pregnant).

cute fuzzy bunny · 03-10-2005, 10:46 AM

Since the majority of people nearing retirement age have no significant savings, and most expect to maintain the same lifestyle in retirement that they enjoyed during their working years (a serious dichotomy if there ever was one), it looks like a lot of people will be "working after they retire", which also sounds like they aint retired.

laurence · 03-10-2005, 11:21 AM

Well, I gotta first get FI, then I can worry about ER! Flexibility with my time and knowing I don't have to work to maintain my lifestyle are my main goals, but if there is something I'd love to do, and somebody wants to pay me for it besides, I won't let that hold me back!

...then again, I do love to golf....

RockMiner · 03-10-2005, 11:35 AM

Quote:

Flexibility with my time and knowing I don't have to work to maintain my lifestyle are my main goals, but if there is something I'd love to do, and somebody wants to pay me for it besides, I won't let that hold me back!

I agree...opinions of purist ER snobs not withstanding

azanon · 03-10-2005, 11:50 AM

Quote:

I agree...opinions of purist ER snobs not withstanding

I love the job i'm doing now. *But I haven't become so disillusioned as to think its not work.

Work, by definition, doesnt mandate that you dont like it. *Some people quite literally love their jobs. *But that doesn't make it not work.

Guess i'm just a purist. Retired to me means you used to work for pay, but you dont anymore.

Patrick · 03-10-2005, 01:48 PM

I'm definitely planning on NOT doing that. I can't get the salary and bennies I'm getting now at any other job. My plan is to just stay here until I max out my pension, then leave with enough so I never have to work again. It doesn't make sense to me to leave early then get a low-paying job I hate. Might as well stay. I will have plenty of activities when I retire, so I won't need to work for something to do.

laurence · 03-10-2005, 04:33 PM

I definitely think it's silly to leave your career and expose yourself to lack of health care, take a low paying job part time where you need every penny, just to say your semi-retired. I'm definitely staying until I can quit and never work a day again in my life if I want. But if one of your hobbies pays some dividends, all the better. In fact, we'll all be spending some time managing our portfolios, and that generates income, so I guess we all will never truly retire! My goal is to know I'm doing exactly what I want with every day, even if it's nothing. Real Freedom, yeah baby!

sgeeeee · 03-10-2005, 10:24 PM

Baring some never-before-seen financial catastrophe of historic preportions, I don't need to earn another dime to live a comfortable and enjoyable retirement.

If I had more money, I could use it to advantage. I could have a lot of fun with another $1M or $10M or . . .

I do some volunteer activities. I enjoy working with the kind of people who volunteer for worthy projects. I could spend my time hiking or camping instead. And I do sometimes. But I also enjoy the volunteer activities.

I also do some activities I refer to as "nearly volunteer" activities. For example, I work on the election board during elections in Arizona. The county pays me for the 14 hour day I put in running a polling place. They pay me about $100.

But I really enjoy this work. I think it's important and I find it satisfying. I like the people who work with me -- a greatly diverse group of people. And I get to meet and talk with all my neighbors when they show up to vote. I could spend my time hiking or camping instead. And I do sometimes. But I also enjoy the nearly volunteer activities.

I still participate in a lot of professional/publishing activities. I have been a volunteer reviewer for several technical journals for more than two decades. This work pays nothing, but I enjoy it and it takes very little time. I've also been serving as a book reviewer for several technical publishing companies for about the same amount of time. They do pay me for this service (~$500 per book). I typically review one or two books per year and I enjoy it. I can do this work at my convenience or I can say no to the request. It's easy and enjoyable for me. I would end up reading most of the books I review sooner or later anyway. This way, I get to improve them when I read them.

I get several offers each month to help some engineers do something that is both easy and satisfying for me. If I accepted all the offers, I would be working 60 hours per week. I could work an average of about 15 hours a week on these kinds of projects and make more money than I spend in a year. That's more time than I want to spend, but I take some of these jobs. If they're not fun, I quit.

MRGALT2U · 03-11-2005, 03:33 AM

Well, if I could find something I loved and that I could
be paid for, obviously I would do it
(fishing guide? barstool philosopher?

)

I worked off and on for the first 4 years of my "retirement".
Unfortunately, although I enjoyed much of my working years, at the end I was simply happier not working. I expect
that I would still be doing "something" *(for pay)
if I was younger. I would only work for myself though.
Being on my own for many years spoiled me for having
a "boss" in any form.

JG

grumpy · 03-11-2005, 07:26 AM

I made a gradual transition to full retirement. I worked half time for 2 years until my wife was able to retire from her teaching job. I have no intention of ever working for pay again.

Grumpy

**Martha** · 03-11-2005, 08:23 AM

Quote:

I made a gradual transition to full retirement. I worked half time for 2 years until my wife was able to retire from her teaching job. I have no intention of ever working for pay again.

Grumpy

So Grumpy, are you ready yet to change your name to Happy? How is the over 55 community going?

Nords · 03-11-2005, 03:36 PM

Quote:

I've also been serving as a book reviewer for several technical publishing companies for about the same amount of time. *They do pay me for this service (~$500 per book). *

$500 for a book report?!? Where do I send my resume?!

sgeeeee · 03-11-2005, 09:29 PM

Quote:

$500 for a book report?!? *Where do I send my resume?!

;D ;D ;D

That's kinda the way I look at it too, Nords.

Of course it's the 30 years of research, publishing and editing prior to now that gets you a place on the list of reviewers. You don't get to read the books for money till you've made some money for the publisher with prior work.

Spanky · 03-12-2005, 04:33 AM

Quote:

...it looks like a lot of people will be "working after they retire", which also sounds like they aint retired.

I second that. If you have to work, then you are not in retirement. I wonder if you love to work, is that retirement?

unclemick · 03-12-2005, 04:58 AM

Had a buddy in my working days(retired military double dipper) Sam: "If they didn't pay me to come here, I'd have to buy a ticket to come watch."

Best definition I've heard - of what I'm not sure.

Usually came out when things were getting chewy at work.

Nords · 03-12-2005, 06:08 AM

Quote:

;D ;D ;D

That's kinda the way I look at it too, Nords. *

Of course it's the 30 years of research, publishing and editing prior to now that gets you a place on the list of reviewers. *You don't get to read the books for money till you've made some money for the publisher with prior work.

I blame Amazon's book-review system for encouraging all us critical thinkers to give it away for free.

Before I stoop to that level, I'm eagerly anticipating the response from major publishers looking for my reviews on nuclear engineering, weapons system design, military training, and how to order frosty beverages in six languages.

Hey, if we're calling ER wannabes "Young Dreamers", would the used-to-be-ER'd-but-working-again demographic be known as "Old Dreamers"?

03-10-2005, 07:28 AM	#1
laurence Moderator Emeritus Join Date: Feb 2005 Location: San Diego Posts: 4,823	New retirement plan - keep working! In a recent Associated Press-Ipsos poll, 63 percent of those who have not retired said they thought they would work for pay after they retired. The reason given most often was “to stay busy,” followed by “to make ends meet” and “to have enough money for extras.” http://www.msnbc.msn.com/id/7140314/ So, anyone here doing this or planning to do this? Definitely not for me, but I guess that's why I'm here....

03-10-2005, 10:00 AM	#2
playaman Recycles dryer sheets Join Date: Feb 2005 Posts: 167	Re: New retirement plan - keep working! Thanks for the link to the genuinely interesting article. I think the Boston College professor quoted in the article is exactly right -- many persons, given a choice and the opportunity, are choosing to retire in stages. A year ago I moved into semi-retirement and in two years, I intend to become fully retired (the summer of my 60th birthdday). And, I can hardly wait... Even so, just because I enjoy it, I hope to continue doing some freelance writing and consulting. as well as remain on a commercial board and continue to teach an occasional course at a nearby state university. I think that is the kind of transitional retirement to which the good Boston College professor refers. The thought of remaining in a mandatory office/ 8-5 routine, however, depresses me, even if it is a zero-stress job. I am now at FI; the next stage is RE in whatever modified format that might take. Life is too short to do otherwise. Playaman

03-10-2005, 10:19 AM	#3
RockMiner Recycles dryer sheets Join Date: Oct 2004 Posts: 214	Re: New retirement plan - keep working! This is a question I'm also grappling with. I'm not strongly opposed to working part time after ER...IF I could find a job that was flexible, reasonably interesting, and low stress. $$ is not that important. I'll risk being burned for heresy: I don't greatly dislike work, just the burnout of doing the same stinkin' thing for 25+ years. I'd go for SER = Semi-ER, if it was on my terms.

03-10-2005, 10:25 AM	#4
laurence Moderator Emeritus Join Date: Feb 2005 Location: San Diego Posts: 4,823	Re: New retirement plan - keep working! I'll admit, I'd love to do a little financial planning/tax prep on the side, my step mom loves it, maybe 300-400 hours a year, provides all the mad money my parents need. That's the only thing I'd do after ER/FI

03-10-2005, 10:41 AM	#5
azanon Thinks s/he gets paid by the post Join Date: Jul 2004 Posts: 1,505	Re: New retirement plan - keep working! I with the author of "Your Money or Your Life" on work. If you're doing some activity for pay, you're still working. AFAIK, someone saying their partially retired to me would be like a woman telling me she's sort of pregnant (or sort of not-pregnant).

03-10-2005, 10:46 AM	#6
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Losing my whump Posts: 22,527	Re: New retirement plan - keep working! Since the majority of people nearing retirement age have no significant savings, and most expect to maintain the same lifestyle in retirement that they enjoyed during their working years (a serious dichotomy if there ever was one), it looks like a lot of people will be "working after they retire", which also sounds like they aint retired. __________________ Many an optimist has become rich by buying out a pessimist

03-10-2005, 11:21 AM	#7
laurence Moderator Emeritus Join Date: Feb 2005 Location: San Diego Posts: 4,823	Re: New retirement plan - keep working! Well, I gotta first get FI, then I can worry about ER! Flexibility with my time and knowing I don't have to work to maintain my lifestyle are my main goals, but if there is something I'd love to do, and somebody wants to pay me for it besides, I won't let that hold me back! ...then again, I do love to golf....

03-10-2005, 01:48 PM	#10
Patrick Full time employment: Posting here. Join Date: Mar 2005 Posts: 876	Re: New retirement plan - keep working! I'm definitely planning on NOT doing that. I can't get the salary and bennies I'm getting now at any other job. My plan is to just stay here until I max out my pension, then leave with enough so I never have to work again. It doesn't make sense to me to leave early then get a low-paying job I hate. Might as well stay. I will have plenty of activities when I retire, so I won't need to work for something to do. __________________ "Who among us is smart enough to learn from the mistakes of others?" - Voltaire

03-10-2005, 04:33 PM	#11
laurence Moderator Emeritus Join Date: Feb 2005 Location: San Diego Posts: 4,823	Re: New retirement plan - keep working! I definitely think it's silly to leave your career and expose yourself to lack of health care, take a low paying job part time where you need every penny, just to say your semi-retired. I'm definitely staying until I can quit and never work a day again in my life if I want. But if one of your hobbies pays some dividends, all the better. In fact, we'll all be spending some time managing our portfolios, and that generates income, so I guess we all will never truly retire! My goal is to know I'm doing exactly what I want with every day, even if it's nothing. Real Freedom, yeah baby!

03-10-2005, 10:24 PM	#12
sgeeeee Thinks s/he gets paid by the post Join Date: Feb 2003 Location: Mesa Posts: 3,588	Re: New retirement plan - keep working! Baring some never-before-seen financial catastrophe of historic preportions, I don't need to earn another dime to live a comfortable and enjoyable retirement. If I had more money, I could use it to advantage. I could have a lot of fun with another $1M or $10M or . . . I do some volunteer activities. I enjoy working with the kind of people who volunteer for worthy projects. I could spend my time hiking or camping instead. And I do sometimes. But I also enjoy the volunteer activities. I also do some activities I refer to as "nearly volunteer" activities. For example, I work on the election board during elections in Arizona. The county pays me for the 14 hour day I put in running a polling place. They pay me about $100. But I really enjoy this work. I think it's important and I find it satisfying. I like the people who work with me -- a greatly diverse group of people. And I get to meet and talk with all my neighbors when they show up to vote. I could spend my time hiking or camping instead. And I do sometimes. But I also enjoy the nearly volunteer activities. I still participate in a lot of professional/publishing activities. I have been a volunteer reviewer for several technical journals for more than two decades. This work pays nothing, but I enjoy it and it takes very little time. I've also been serving as a book reviewer for several technical publishing companies for about the same amount of time. They do pay me for this service (~$500 per book). I typically review one or two books per year and I enjoy it. I can do this work at my convenience or I can say no to the request. It's easy and enjoyable for me. I would end up reading most of the books I review sooner or later anyway. This way, I get to improve them when I read them. I get several offers each month to help some engineers do something that is both easy and satisfying for me. If I accepted all the offers, I would be working 60 hours per week. I could work an average of about 15 hours a week on these kinds of projects and make more money than I spend in a year. That's more time than I want to spend, but I take some of these jobs. If they're not fun, I quit.

03-11-2005, 03:33 AM	#13
MRGALT2U Thinks s/he gets paid by the post Join Date: Dec 2002 Posts: 3,877	Re: New retirement plan - keep working! Well, if I could find something I loved and that I could be paid for, obviously I would do it (fishing guide? barstool philosopher? ) I worked off and on for the first 4 years of my "retirement". Unfortunately, although I enjoyed much of my working years, at the end I was simply happier not working. I expect that I would still be doing "something" *(for pay) if I was younger. I would only work for myself though. Being on my own for many years spoiled me for having a "boss" in any form. JG

03-11-2005, 07:26 AM	#14
grumpy Full time employment: Posting here. Join Date: Jul 2004 Posts: 987	Re: New retirement plan - keep working! I made a gradual transition to full retirement. I worked half time for 2 years until my wife was able to retire from her teaching job. I have no intention of ever working for pay again. Grumpy

03-12-2005, 04:58 AM	#19
unclemick Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Jul 2003 Location: north of Kansas City Posts: 5,646	Re: New retirement plan - keep working! Had a buddy in my working days(retired military double dipper) Sam: "If they didn't pay me to come here, I'd have to buy a ticket to come watch." Best definition I've heard - of what I'm not sure. Usually came out when things were getting chewy at work.