So how do you tell 'when' you are retired?

[hakuna matata]

Quote:

Originally Posted by pb4uski I would consider you to be FI and semi-retired since you still do some w*rk. Or perhaps you can think of yourself as between jobs until you get comfortable with being fully retired. Your OP indicates that you DW will retire in two years when she has 20 years in. That made me wonder why she wouldn't be fully vested already since most pensions plans vest after 5 years, but perhaps the benefit structure optimizes at 20 years and that is what she is waiting for.

She is vested but she can't draw a pension until she has been there 20 years. Actually it is some combination of age/years of service, and in her case it is 20 years at age 55. The longer she works at that point she gets an increased pension, but that won't be happening! Her job is a job and she doesn't enjoy it anymore, so she is just biding her time until 55. Her pension is just enough money to make our future secure, so she won't walk away from it when it is this close.

I do think of myself as semi-retired but I doubt I will ever be fully retired as I can see myself picking and choosing which projects I want to work on. I guess that is the key for me as I don't see what I do as 'work', it is a creative field and so I see myself as indulging in my hobby, which I just happen to get paid for. After my wife retires though I am sure I will be even pickier about the commissions I take.

And DFW_M5 I do think I have the best of both worlds! Thanks

[Bestwifeever]

I don't think I would use the terms "retired" or "semi-retired" if you are still looking for projects that appeal to you. Someone could interpret them as meaning you aren't serious about a project, or you haven't kept up your professional credentials in your field, or maybe you won't be serious about meeting the deadlines because you see the work more as a hobby that you do on your own terms and not the client's. I am sure none of these apply to you, but a prospective client or someone who might otherwise refer you to a client might keep looking for someone who seems a little hungrier.

Nothing wrong with a reputation for being choosy about what you want to do, but that's different than describing yourself as retired or semi-retired.

[pb4uski]

Quote:

Originally Posted by hakuna matata She is vested but she can't draw a pension until she has been there 20 years. Actually it is some combination of age/years of service, and in her case it is 20 years at age 55. The longer she works at that point she gets an increased pension, but that won't be happening! Her job is a job and she doesn't enjoy it anymore, so she is just biding her time until 55. Her pension is just enough money to make our future secure, so she won't walk away from it when it is this close. .......

So it sounds like you are FI now and DW could retire now but she could not start receiving pension benefits until she is 55. IOW, if she retired today when she turns 55 she would start receiving pension benefits, but the 2 years of her not working would eat into your retirement nestegg.

[hakuna matata]

Quote:

Originally Posted by Bestwifeever Nothing wrong with a reputation for being choosy about what you want to do, but that's different than describing yourself as retired or semi-retired.

Oh I would agree. None of my clients know anything about that side of things, nor do they know anything about my political or religious beliefs, just isn't pertinent to their project.

But if I am not interested in the project I just tell them I am too busy to give their project the energy it deserves, etc. I learned long ago to make my clients feel special, and they are, so it wasn't something I had to learn. When I am working on your house or project I am focused on that aspect.

I actually never talk to anyone about being retired, or semi-retired, not even friends or family. Most of them can't wrap their head around the idea that you can retire early, etc. But they also tend to live beyond their means, or have the latest toys, etc. This board is a nice oasis for me as there are like minded people here, so it makes me feel so not alone I made it here through hard work, but also plenty of luck and good timing, and having a great wife who is very supportive and has the same mindset. But I learned quite awhile ago to not discuss money issues with friends (and never have with clients), as most people get pretty uncomfortable pretty fast. So no one knows I am retired or semi retired--I just tell them about my lastest project and that seems to satisfy their curiousity. As far as they know I am working on that full time.

I started the thread more because I had an epiphany that 'hey maybe I am retired now?" thing. Nothing more than that.

[RockyMtn]

I retired from full time work nearly 3 years ago. While I didn't really need the $$$ my former employer has kept me on the payroll as a "consultant" for various issues. I don't hear from them very often (every couple of months these days, more in the beginning). Continued benefits were too good to pass up. I also formed a consulting firm with moi as the one and only employee. I might have one or two clients a year and have turned down others that either don't interest me or would infringe on my playtime.

For me this has been a nice transition from full time work to what will eventually be full time retirement. The extra dough is nice. Keeping myself involved and up to date on my industry is nice. Being able to do whatever I want and no longer having to deal with budgets, HR, legal issues, business travel, etc, etc, etc.....priceless!

Everyone has their own vision of what their retirement will be. If you want to work some, so be it. If not, that is fine as well. Mine is pretty much as I planned. May not be for everyone but it sure works for me.

[Bestwifeever]

Quote:

Originally Posted by hakuna matata ...I actually never talk to anyone about being retired, or semi-retired, not even friends or family. Most of them can't wrap their head around the idea that you can retire early, etc. But they also tend to live beyond their means, or have the latest toys, etc. This board is a nice oasis for me as there are like minded people here, so it makes me feel so not alone ....

Okay, in that case, here's your secret password to be used only on this board: "Pssst, I'm pretty much retired!" with a big old smile on your face. When you're ready, just ask someone to teach you the secret handshake.

[Semiretired2008]

I am kind of in the same position. I call myself Semi Retired as you can see by my user name. Just cannot bring myself to pull the plug and use the word Retired or Fully yet. I still work (here and there on special projects) so I am not Fully Retired... I went part time or into Semi status in 2008 (economic stresses on the company and I volunteered) as a transition period. Right now trying to decide if I can or if I want to fully pull the plug and retire - part of the reason for joining this forum.

You have what most would want with you being able to pick and choose - just remember that as you turn down more - less will come your way as the word gets out that you are turning offers down - that is what has been happening to me over the last 8 months or so and is why I am considering either changing careers in what I do in my Semi mode or just pulling the plug all together...