New retirement plan - keep working!

[laurence]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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.

 

[Mr._johngalt]

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]

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]

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]

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]

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

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]

...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]

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]

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"?

 

[Mr._johngalt]

I dunno. If I was in that group (used to be ERed but working again) a more appropriate name might be
"potential suicides" Truly though, and speaking only for myself,
that would be a bitter pill indeed.

JG

 

[cute fuzzy bunny]

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

Not me! I've been doing tons of reviews on "epinions". They pay you micropayments based on how many people read your reviews, how the readers rate your review, and how many click-through purchases are generated from links from your reviews. I spent a couple of hours writing some little reviews of everything I could see in the house one morning. So far I've made $20 in just a couple of months...the good part is once you've written a bunch of reviews, you can just sit back and watch the pennies pile up.

If you want to try this minor income adventure, it helps if you're writing the first few reviews of a new product, a review that analyzes some particular aspect of a product in great detail, humor and light bawdiness also help boost your ratings.

 

[Martha]

Hey TH, I knew you were too much the type A to stay away from working for the rest of your life.

 

[cute fuzzy bunny]

Yeah, it creeps in when y'arent looking.

Oh well, I like telling people about stuff that works out for me and stuff that doesnt. Maybe I should have been a news reporter...

 

[hocus]

I wonder if you love to work, is that retirement?

My view is that "retirement" is something that one attains over the course of one's life as one gains freedom to control the hours of one's day. If you love your job but have not acquired any financial independence, you are not retired. It's only through saving that you can get yourself in circumstances in which you can "retire" from dependence on a paycheck to cover the costs of keeping body and soul united.

People often forget how new a concept "retirement" is. It was generally the rule prior to the 1930s that people worked until they were too old or weak to continue. Then the concept of the age-65 retirement began to gain ground. Now we are ready to move on to seeking retirement at earlier ages.

When you do it at earlier ages, it becomes something different. Those who retired at age 65 in 1930 did not have that many options available to them as to how they would spend the remainder of their days. Those who retire at age 40 today have all sorts of options. It is entirely natural that those with more options would explore new ways of putting the concept of "retirement" to use helping them in their quest to achieve their most important life goals.

We will change the meaning of the concept of "retirement" over time as we see the need for making changes to it. That's my belief.