What do most people get wrong about ER?

audreyh1 said:
...some working people really can't imagine what they would do with themselves if they were retired, so they are a bit mystified by the whole idea.
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+1. I think this is a very sad commentary about our society.
 
They think you're......

1. Lying
2. Tooting your own horn because you just can't find a job
3. Tooting your own horn because you're just too lazy to work

:)

Mike
 
A former co-worker (who hated his job and said he didn't know when he would/could retire) once described early retirement as an "slow death". I thought, isn't going to a job every day that you despise a slow death?
 
When I was younger, I thought the way to present myself was "out of work." That way I wouldn't get drug through any discussion about being lucky. It would imply I was looking for work even though I hadn't "found" anything. Now at 63, I don't think anyone would bat an eye when I say I'm retired.

As oil drops, I suspect my high paying, low stress position will be at risk. The part of our company that does drilling platforms and oil & gas facilities is starting to sputter. I had been on their last big project and it ended a year ago. I've been back at the refining/chemical plant end of the business since then but I'm seeing this slow down. It's probably a good time to leave and let someone who wants the job keep theirs.

After Thursday, I leave for two weeks of vacation. Resignation day 1/5/15. I wonder what I'll do all day? :D
 
What many early retirees get wrong when they retire is they are leaving something, usually mega corp but initially don't know what they will do with their time. And individuals contemplating retirement may not have figured out what they will do. years ago I went to a high school reunion, many had left their jobs in automotive plants early because they have"30 and out" so many can retire around age 50. When I asked what they did, the most common answer was "putz around all day". the happiest old friend I met had started a lawn business, which he did all summer, took the money and relaxed in Florida all winter. Looked great with a tan and in good health. Me? I'm using my time to gain technical skills and assist in charitable work. BUT.....I had worked....55 hours a week for so many years, my 1st year was boring as I replaced my work hours with other stuff.......guess I should have thought ahead a little bit more back then.
 
Perhaps he lacked imagination. People who lack imagination, take their cues from advertising and such. For them, the word "retirement" probably conjures images straight from the "A Place for Mom" ads. Retire, boom, you've got Alzheimer's.

Amethyst

David1961 said:
A former co-worker (who hated his job and said he didn't know when he would/could retire) once described early retirement as an "slow death". I thought, isn't going to a job every day that you despise a slow death?
Click to expand...
 
I ER'ed in 2013 at age 49 so I always get a lot of puzzled looks when I say I'm retired. My friends, family and others I have met since ER cannot believe it is possible to do this by age 49 (or even before 65). The biggest misconceptions that I found about ER from others are:


1) Friends and extended family think I inherited millions when my dad died in 2005... Not true.
2) They think I'm am investment wiz or just lucky at investing... Not true
3) They think by not having kids it the only way to ER... Others on this site have kids and ER'ed.
4) They think I'll be bored and go insane... WAY NOT TRUE....


When I tell them the simple formula to ER they just shrug me off and think I'm hiding the big secret to ER:


1) Start saving early.
2) Live below your means.
3) Stay invested in diversified low fee funds. Do not panic in down markets.
4) Never use credit cards if you can not pay them off each month.


If you follow the above with strict discipline then time to take care of the rest....


They usually have no response to these simple steps to ER.....
 
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Soon after ER-I did tell all "I am Retired". After realizing people just thought I was too lazy to work so I became "Self Employed". That is totally acceptable to everyone. Have plenty to do with 7 rental properties..


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I think it depends a lot on where you live. I don't mean what state, but what sort of neighborhood. I am 73, but the default assumption is still that I work. It seems like here at least, people work or they look really infirm and then it is assumed that they are retired.

Even people who live in my building and must know that I am around a lot during the day, assume that I work.

Ha
 
I think what it boils down to is one word: Jealousy. Of course, this is an OVERLY generalization, but I think it rings true.
 
haha said:
I think it depends a lot on where you live. I don't mean what state, but what sort of neighborhood. I am 73, but the default assumption is still that I work. It seems like here at least, people work or they look really infirm and then it is assumed that they are retired.

Even people who live in my building and must know that I am around a lot during the day, assume that I work.

Ha
Click to expand...

Except for the few that are just plain stinky rich, aren't we all working at doing what we need to do to get along? On this forum there seems to be a tendency to take "retirement" to mean leaving a traditional job working for "da man." But lots of people dabble in activities that enable them to get by and that don't have any association with formal, traditional employment.

We manage our portfolios, even if just passively. We shop and cook some meals because it's too expensive to always dine out. We do some housekeeping because having hired help to wash and clean costs money. We check the newspaper for inexpensive entertainment ideas because always paying top dollar for fun would take us beyond our SWR. Etc.

My roommate from college never held what I'd call a traditional job. As a writer (with published technical, non-fiction and fiction works on his resume) he spent decades roaming around the country working here and there as a contractor or self-employed. You'd never mistake him for a MegaCorp employee, yet he was working at having what he needed to get by. He always assumed I was the fool for selling three+ decades of my life to MegaCorp(s) and assuming the life of a lemming. Looking back, he wasn't completely wrong.........

Your neighbors might be assuming you work in the sense that you're busy living, not just playing, or that you're non-traditionally employed.
 
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Dhickman57 said:
Soon after ER-I did tell all "I am Retired". After realizing people just thought I was too lazy to work so I became "Self Employed". That is totally acceptable to everyone. Have plenty to do with 7 rental properties..


Sent from my iPhone using Tapatalk
Click to expand...

This is confusing. How could you identify yourself as "retired" if you "have plenty to do with 7 rental properties?"

I guess it's the elusive definition of the word "retired" that makes it so hard to know what people mean when they say it. I certainly wouldn't call you "retired." But perhaps you owned the properties and were also working for MegaCorp and then "retired" from MegaCorp. You still own and have plenty to do with your business but carry the moniker "retired" from your traditional job that you left.........
 
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audreyh1 said:
We get the helpful suggestion that we could sell our photos pretty often.
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I get that often too. While I enjoy photography as a hobby and mounting and framing prints, I have zero interest in running a business.

Then it wouldn't be fun anymore. It'd be w*rk, and who in their right mind wants to do that?
 
David1961 said:
A former co-worker (who hated his job and said he didn't know when he would/could retire) once described early retirement as an "slow death". I thought, isn't going to a job every day that you despise a slow death?
Click to expand...

Even if your job keeps you busy and feeling productive, I'd describe retiring at 65 or 70 to die at 72 as a "fast death". Mean time, if I can retire at 42 and have to die at 72, well, that "slow death" sounds a lot better to me.
 
RockyMtn said:
I get strange looks and then I offer the following:

"I always found work to be highly overrated"
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I'm stealing a quote from around here when people tell me I will get bored: "When I've been bored before, I've never thought - 'hey, I'll go to work!'"
 
youbet said:
My roommate from college never held what I'd call a traditional job. As a writer (with published technical, non-fiction and fiction works on his resume) he spent decades roaming around the country working here and there as a contractor or self-employed. You'd never mistake him for a MegaCorp employee, yet he was working at having what he needed to get by. He always assumed I was the fool for selling three+ decades of my life to MegaCorp(s) and assuming the life of a lemming. Looking back, he wasn't completely wrong.........
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Wasn't he? I did what you did. With a corporate career, if you play your cards right and have some luck, you can attain FIRE while still relatively young. That's generally not the case for someone like your roommate. And that might be fine, unless his work gets more difficult or less appealing as he gets up in years.
 
wishin&hopin said:
Wasn't he? I did what you did. With a corporate career, if you play your cards right and have some luck, you can attain FIRE while still relatively young. That's generally not the case for someone like your roommate. And that might be fine, unless his work gets more difficult or less appealing as he gets up in years.
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My friend wasn't wrong for himself. Now in our greybread years and looking back, I can see where he would have not been happy in a MegaCorp environment, at least the MegaCorp environments I'm familiar with.

While you thrived in a MegaCorp environment and enjoyed life working there in those circumstances, it's not for everyone.
 
youbet said:
My friend wasn't wrong for himself. Now in our greybread years and looking back, I can see where he would have not been happy in a MegaCorp environment, at least the MegaCorp environments I'm familiar with.

While you thrived in a MegaCorp environment and enjoyed life working there in those circumstances, it's not for everyone.
Click to expand...

True. Life is certainly a case of YMMV. There's no set rule book. Keeps things interesting.
 
So, if I manage my few (very few) million nut I'm an unemployed lazy no good bum. If I give the same few million to a "financial advisor" He/she is an upstanding hard working model citizen?
 
The comment I find most perplexing is people saying that I look too young to be retired....as if looks have anything whatsoever to do with it! I learned early on to put a big smile on my face and say with a laugh....."Believe me, I'm old enough to be retired."

This is slightly off topic, but comes from friends and relatives. They will try to call, email, or text me and expect an immediate answer. It seems they can't imagine that I might be out and about doing all kinds of fun, interesting things since I am no longer working. Odd to say the least.
 
healthyandfun said:
The comment I find most perplexing is people saying that I look too young to be retired....as if looks have anything whatsoever to do with it! I learned early on to put a big smile on my face and say with a laugh....."Believe me, I'm old enough to be retired."

This is slightly off topic, but comes from friends and relatives. They will try to call, email, or text me and expect an immediate answer. It seems they can't imagine that I might be out and about doing all kinds of fun, interesting things since I am no longer working. Odd to say the least.
Click to expand...
No offence, but I don't find it odd or perplexing at all. As an early retiree, you are in the definite minority. Most people retire at 60+, or even much later. Judging you in relation to the entire universe of retired people, you are indeed unusual, so a comment along the lines of, "You look too young to be retired" makes perfect sense.

Take it as a compliment.
 
Either that I suddenly came into money out of luck ("Oh did you win the lottery?") or that I would prefer to get another job but simply haven't had any luck ("Hey why don't you do some pro bono work/teach/consult?")


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bradaz2488 said:
3) They think by not having kids it the only way to ER... ....
Click to expand...

I've gotten this reaction a few times. I've never had kids so I don't know exactly what they cost, but I think I still would have lived a simple, LBYM lifestyle even if I had kids because financial independence was always a high priority for me. Ok, maybe I would have saved 50% of my after tax income instead of 70%, and maybe I would have retired at age 53 instead of 47, but I still would have retired at a relatively young age because it was important to me to do so.



Sent from my iPhone using Early Retirement Forum
 
Four years ago I ER'd at 55 and often got the "you look too young to be retired" comment. I tell them I worked for 30 years and that usually ends the conversation. Sometimes I get asked what I do all day and then I tell them. I've never had a negative reaction nor has anyone chastised me for it or asked for retirement advice. A few have held me up as their idol for their future retirement. My example convinced a close friend to retire in the next year.
 
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