Retirement and Hedonic Adaptation

[Elbata]

Often we come across posts about how it's hard to pull the plug, retire. OMY syndrome. I've just come across this today and it nicely blends the idea of retirement and the hedonic treadmill:

The Hedonic Treadmill And Financial Freedom – Mr. Free At 33

The author relates the set point of happiness much like the set point on a thermostat:

"What was happening back when I was spending most of my waking hours getting ready for work, going to work, working, coming home from work, unwinding after work, and preparing for the next day’s work was that I was operating in that lower range fairly often.

Work acted as this negative force, constantly pressuring my happiness down into that colder range, even as my body psychologically acted as a countervailing force to keep me closer to my set point. In essence, I was kind of bouncing around from my set point down into that colder range and back again, obviously with moments here and there where I was up in that warmer range, too.

However, financial freedom has acted as addition through subtraction, removing that negative force from my life, allowing my happiness to far more often bounce around in that warmer range, back to the set point, and then in the warmer range again."

 

[nash031]

Good read. Makes sense to me too!

 

[Rianne]

Enjoyed that article. I do believe those with common sense would understand it. I have a few relatives that would be offended by it because they view wealth in terms of house, car, vacations and such.

 

[W2R]

I'm not sure I agree with the author, due to the changes in happiness during my own life. He says we each have a "set point" for happiness, to which we will always return after adjusting to new circumstance. I disagree vehemently. (I do agree with him that purchases have nothing to do with adjusting the set point).

If there was a scale of 0-100 for happiness, with 0 being totally unhappy, 50 being neutral, and 100 being totally happy, here's how my life has been.

Ages 0-18: Happiness level 5
Ages 18-27: Happiness level 30
Ages 27-50: Happiness level 51
Ages 50-61: Happiness level 68
Ages 61-present: Happiness level 96

These changes were due to moving out from my parents' home, marriage, divorce, and retirement.

I think the author either was never completely and utterly miserable in his entire life, or else he never had anything great happen that would profoundly and permanently improve his level of happiness.

At any rate, the above pretty much says it all as far as how my life has been. I would never assume that everyone (or anyone!) has had an identical life experience to mine, but I think the author has yielded to that temptation.

 

[Walt34]

Interesting perspective, but I'm with W2R on this one. The happiness level has varied a lot in my life, at the low points a couple of times I was close to suicidal. That was many decades ago, before I had any inkling of how things can change for the better with time. And right now, being retired with a steady and reliable income and the lowest level of stress I've ever had I'm very happy with the way things are. So at least for me there is no discernible "happiness set point" and I'm doggone glad there isn't!

 

[Red Badger]

Also aligned with WR2.
I had some very dark chapters early on. I overcame them eventually, but true satisfaction was always tempered to varying degrees due to the pressures of w*rk. While I enjoyed my career more years than not, removing that yoke last year was more life changing than I imagined.

I leave the house when I want - or not.
I travel when I want - or not.
I do chores when I want - or not.
I'll stop here, but this list could go for pages...

 

[Dtail]

Also aligned with WR2.
I had some very dark chapters early on. I overcame them eventually, but true satisfaction was always tempered to varying degrees due to the pressures of w*rk. While I enjoyed my career more years than not, removing that yoke last year was more life changing than I imagined.

I leave the house when I want - or not.
I travel when I want - or not.
I do chores when I want - or not.
I'll stop here, but this list could go for pages...

Big +1 and Sunday nights are wonderful again.

 

[ivinsfan]

I'm not sure I agree with the author, due to the changes in happiness during my own life. He says we each have a "set point" for happiness, to which we will always return after adjusting to new circumstance. I disagree vehemently. (I do agree with him that purchases have nothing to do with adjusting the set point).

If there was a scale of 0-100 for happiness, with 0 being totally unhappy, 50 being neutral, and 100 being totally happy, here's how my life has been.

Ages 0-18: Happiness level 5
Ages 18-27: Happiness level 30
Ages 27-50: Happiness level 51
Ages 50-61: Happiness level 68
Ages 61-present: Happiness level 96

These changes were due to moving out from my parents' home, marriage, divorce, and retirement.

I think the author either was never completely and utterly miserable in his entire life, or else he never had anything great happen that would profoundly and permanently improve his level of happiness.

At any rate, the above pretty much says it all as far as how my life has been. I would never assume that everyone (or anyone!) has had an identical life experience to mine, but I think the author has yielded to that temptation.

You put 5 for 0-18 does that mean you had a truly miserable childhood, that seems really depressing for a youngster.


I grew up in a military family, with parents who later divorced, moved all the world several times and never had any contact with extended family on either side. But I wouldn't rate that 5. I call it ok but not particularly happy. It would probably be in the 40-50 range.

 

[W2R]

You put 5 for 0-18 does that mean you had a truly miserable childhood, that seems really depressing for a youngster.


I grew up in a military family, with parents who later divorced, moved all the world several times and never had any contact with extended family on either side. But I wouldn't rate that 5. I call it ok but not particularly happy. It would probably be in the 40-50 range.

Well good, I'm glad that you feel your childhood was better for you than mine was for me. From your description, I would agree. But that's not really the topic of the thread, I suppose.

 

[Geld ist Freiheit]

As Tyler Durden said:
“Advertising has us chasing cars and clothes, working j*bs we hate so we can buy sh!t we don’t need”
and
“The things you own end up owning you”.

 

[Hermit]

As Tyler Durden said:
“Advertising has us chasing cars and clothes, working j*bs we hate so we can buy sh!t we don’t need”
and
“The things you own end up owning you”.

To each their own. I don't think I fit his all-inclusive definition. I don't pay much attention to advertising. If I want to buy something that I don't need, that would be OK with me. If I was the type to buy what I don't need when I could not afford it, that would a different situation, but that is not and has never been me.

 

[audreyh1]

As Tyler Durden said:
“Advertising has us chasing cars and clothes, working j*bs we hate so we can buy sh!t we don’t need”
and
“The things you own end up owning you”.

Is that “Money is Freedom”? Close to Dutch: “Geld is Vrijheid”.

 

[ivinsfan]

Well good, I'm glad that you feel your childhood was better for you than mine was for me. From your description, I would agree. But that's not really the topic of the thread, I suppose.

It's interesting to see what people think looking back at their early lives. I thought maybe the 5 was a typo but I guess not. I'm sorry you didn't have a better childhood.

But it's wonderful that you are so content and happy now. I definitely get that from reading most of your posts and comments.

 

[W2R]

It's interesting to see what people think looking back at their early lives. I thought maybe the 5 was a typo but I guess not. I'm sorry you didn't have a better childhood.

But it's wonderful that you are so content and happy now. I definitely get that from reading most of your posts and comments.

I really am! Wish I could describe how wonderful my last few years have been, for me. It makes up for everything.

I think that changes in happiness level do happen for some of us as we go through life, and I personally I am so glad that the author was wrong - - in that at least some of us do not revert to the same "set point" for happiness that we had earlier in life.

 

[DrRoy]

I agree with the set point premise to a degree. However, "Happiness" is not the only measure, even if the premise is totally correct. Since RE, my stress level is permanently lower and my leisure time and quality of sleep are permanently higher.

 

[Geld ist Freiheit]

Is that “Money is Freedom”? Close to Dutch: “Geld is Vrijheid”.

Je bent juist.
Het is de Duiste versie.

 

[iloveyoga]

I also really enjoyed this article. When I was busy working and raising a family, it was really hard to think of much else. I got lucky in listening to and reading some great authors, which slowly helped to change my mindset. And I was in the retirement business, so that helped too!

 

[f35phixer]

Did you see HIS portfolio?? That is only 1000/month income!


As of June 5, 2018, the Fund is worth $356,215.21. There are 110 companies in the Fund.
The Fund is expected to generate a total of $12,652.39 in dividend income over the next 12 months

 

[phil70]

Interesting discussion. For anyone really interested in research on long term happiness, I would recommend the book The Happiness Curve, by Jonathon Rauch. Turns out the research shows happiness just organically increases with age. The book changed the way I view my own issues with happiness, success, achievement, etc. The general trend toward increased happiness in old age is actually pretty independent from wealth, career success, health or other factors. It seems to be part of our biology. Good to know that the advice to just "Hang in there," is actually the best advice.

 

[audreyh1]

Je bent juist.
Het is de Duiste versie.

Dankjewel! (de Duitse versie)

My Dutch spellchecker helps me a lot! I’m just a novice Dutch speaker so it’s fun sometimes when I understand written German.

 

[braumeister]

As Tyler Durden said:
“Advertising has us chasing cars and clothes, working j*bs we hate so we can buy sh!t we don’t need”

There is a wonderful word in (slang) Brazilian Portuguese, "bagulho" (pronounced bah-GOOL-you). Its most common definition is "Something you don't need that you buy with money you don't have."

I don't think there is an exact English equivalent.

 

[Nemo2]

I don't think there is an exact English equivalent.

Idiocy?

 

[Kickernick]

My set point has definitely risen since I FIRE'd - and I was pretty happy before!

 

[Scuba]

Idiocy?

[emoji23]

 

[MikeD]

I hate to tell you about guys like me: I am always happy. I am stuck with a good attitude. I believe some things one is born with.

My Dad and brother were born with bad attitudes. I was born with a good one.

My wife says that this statement is typical of me (Said sincerely): "I am glad that I have a good attitude."

Mike D.