+1
This question almost always gets a particular kind of answer here -- framed in terms of some kind of personal limitation or shortcoming. The person has no identity or sense of self-worth outside of their job, or they are workaholics...
There is truth to that -- plenty of people do struggle in retirement because their jobs define them, etc. -- but there's another side of the story, one that you don't typically hear on this forum (it's part of what I meant when I talked about the skewed sample).
Few people here seem to appreciate (or at least articulate) that many people choose not to retire for good reasons -- not just because they lack imagination, can't think of anything to do but watch TV, are workaholics, etc.
So, in the interests of providing a little balance, here are some "good" reasons why someone might not want to retire completely, even if they are FI:
- They enjoy their work
- They find a sense of meaning and contribution in their work
- Their work is a source of learning and growth
- They like their colleagues and the social stimulation of work
- They benefit from the intellectual stimulation provided by their work
- They enjoy exercising a sense of competence, feeling effective at something they've trained all their life to do, and do well
- Their jobs give them a feeling of being useful and productive
- They like the extra money, which is beyond FI so can be considered "free money," to just blow on whatever they like, without concern for financial security
- They don't want concerns about rising health insurance costs
- They like the variety that comes with alternating work and non-work days, so that "days off" retain their sense of specialness (vs. every day is a day off)
- Their work is low stress and provides plenty of freedom
p.s. I should add, what I'm thinking of here is part-time work, what some would call semi-retirement. I'm not thinking of full-time work, in perpetuity. Let's not get carried away.
I honestly don't have any of those from my work!! WHY HAVEN'T I PULLED THE TRIGGER YET!!!This question almost always gets a particular kind of answer here -- framed in terms of some kind of personal limitation or shortcoming. The person has no identity or sense of self-worth outside of their job, or they are workaholics...
There is truth to that -- plenty of people do struggle in retirement because their jobs define them, etc. -- but there's another side of the story, one that you don't typically hear on this forum (it's part of what I meant when I talked about the skewed sample).
Few people here seem to appreciate (or at least articulate) that many people choose not to retire for good reasons -- not just because they lack imagination, can't think of anything to do but watch TV, are workaholics, etc.
So, in the interests of providing a little balance, here are some "good" reasons why someone might not want to retire completely, even if they are FI:
- They enjoy their work
- They find a sense of meaning and contribution in their work
- Their work is a source of learning and growth
- They like their colleagues and the social stimulation of work
- They benefit from the intellectual stimulation provided by their work
- They enjoy exercising a sense of competence, feeling effective at something they've trained all their life to do, and do well
- Their jobs give them a feeling of being useful and productive
- They like the extra money, which is beyond FI so can be considered "free money," to just blow on whatever they like, without concern for financial security
- They don't want concerns about rising health insurance costs
- They like the variety that comes with alternating work and non-work days, so that "days off" retain their sense of specialness (vs. every day is a day off)
- Their work is low stress and provides plenty of freedom
p.s. I should add, what I'm thinking of here is part-time work, what some would call semi-retirement. I'm not thinking of full-time work, in perpetuity. Let's not get carried away.
This question almost always gets a particular kind of answer here -- framed in terms of some kind of personal limitation or shortcoming. The person has no identity or sense of self-worth outside of their job, or they are workaholics...
There is truth to that -- plenty of people do struggle in retirement because their jobs define them, etc. -- but there's another side of the story, one that you don't typically hear on this forum (it's part of what I meant when I talked about the skewed sample).
Few people here seem to appreciate (or at least articulate) that many people choose not to retire for good reasons -- not just because they lack imagination, can't think of anything to do but watch TV, are workaholics, etc.
So, in the interests of providing a little balance, here are some "good" reasons why someone might not want to retire completely, even if they are FI:
- They enjoy their work
- They find a sense of meaning and contribution in their work
- Their work is a source of learning and growth
- They like their colleagues and the social stimulation of work
- They benefit from the intellectual stimulation provided by their work
- They enjoy exercising a sense of competence, feeling effective at something they've trained all their life to do, and do well
- Their jobs give them a feeling of being useful and productive
- They like the extra money, which is beyond FI so can be considered "free money," to just blow on whatever they like, without concern for financial security
- They don't want concerns about rising health insurance costs
- They like the variety that comes with alternating work and non-work days, so that "days off" retain their sense of specialness (vs. every day is a day off)
- Their work is low stress and provides plenty of freedom
p.s. I should add, what I'm thinking of here is part-time work, what some would call semi-retirement. I'm not thinking of full-time work, in perpetuity. Let's not get carried away.
I honestly don't have any of those from my work!! WHY HAVEN'T I PULLED THE TRIGGER YET!!!
I don't know!
Good question. Here are some possibilities (I'm covering the other side of the tracks now):
- Financial worries -- you know intellectually you've got enough, but there's always the "What if's?" What if the stock market tanks? What if health insurance skyrockets? Etc. The brain is remarkably good at thinking of things that might go wrong.
- Don't know what you'd do with all that time.
- Anxiety about having no more money coming in (no more paycheck)
- Protestant work ethic: you're supposed to work, work is a sign of virtue and how you demonstrate your worth; so, if you aren't working, you're shirking your responsibility and you're sort of useless
- Guilt about not earning more to leave to your family
- No particular interests or hobbies outside of work
- Feeling that you're selfish; that your role is to serve others
- Sense that retirement means you are old and used up
- Identity wrapped up in work ("Who am I, if I'm not a ____?")
- No friends or social contacts outside of work
- Hard time walking away from the paycheck during peak earning years; that seems like a dumb financial decision
- Anxiety about having to structure every day all by yourself
- Worries that you might end up spending all your time watching TV and eating Cheetos.
- Worry that once you pull the plug, you can't take it back. The finality of it.
Or maybe it's something else. It would be good to try to identify what's holding you back. It's par for the course, to have concerns about it. Full retirement is a big decision. No need to rush into it. Lots of people here can talk to you about any of these issues.
I don't know!
Good question. Here are some possibilities (I'm covering the other side of the tracks now):
- Identity wrapped up in work ("Who am I, if I'm not a ____?")
)
