You don't want to retire too soon....

[clifp]

Quote:

Originally Posted by FIREd I don't know of any people in real life who regret retiring too early, mostly because most people I know retired in their 60s. I think that there are a few people on this board who retired very early (in their 30s and 40s) and who have expressed some concern that they may have retired too soon.

My advice to those who found themselves suddenly FIRE in their 30s like
I did is not to retire that early, unless they have a strong passion to do something else (sailing, mountain climbing, painting, writing ....) . I wish I had found (looked for harder) a second career. But anybody in their 50s has had plenty of experience with work, and probably will have zero regrets leaving.

[traineeinvestor]

Apart from the financial aspects, it could be that they are referring to some of the things that some people* give up or lose when they retire - the sense of purpose and relevancy that comes with a rewarding career, social interactions with co-workers and others, having some structure imposed on your day, intellectual stimulation etc.

Some people* will miss these things when they retire, struggle to replace them and end up feeling isolated and bored in retirement with consequental negative effects on mental, emotional and physical health.

As the clock ticks down towards my last day, I worry more about these issues and spend more time making sure that I am retiring to something better (rather than simply retireing from my j*b).

* obviously not many of of them are hanging out around here.

[Mulligan]

Quote:

Originally Posted by traineeinvestor Apart from the financial aspects, it could be that they are referring to some of the things that some people* give up or lose when they retire - the sense of purpose and relevancy that comes with a rewarding career, social interactions with co-workers and others, having some structure imposed on your day, intellectual stimulation etc. Some people* will miss these things when they retire, struggle to replace them and end up feeling isolated and bored in retirement with consequental negative effects on mental, emotional and physical health. As the clock ticks down towards my last day, I worry more about these issues and spend more time making sure that I am retiring to something better (rather than simply retireing from my j*b). * obviously not many of of them are hanging out around here.

Thanks to this forum I was aware of the "retire to" vs. "retire from" scenario. I was a "retire from" person. Oddly enough I solved this "dilemma" by changing one routine for another. I didn't realize how structured I was until I retired. Outside of when I am traveling, I have a daily routine I stick to and enjoy pretty much on a daily basis.

[gozer]

Quote:

Originally Posted by superdave As I mentioned, both of these guys had been retired more than a decade. My gut feel is that they may miss some of the social interaction, and the feeling of being a 'player'. From my perspective, I am an aging IT guy working in a young guys field. Bragging rights after working 70 hour work weeks dont do it for me anymore I can't imagine that I will miss the 2 AM support calls

I share your pain. Can't wait to lose my 24 hour electronic leash. Working 2-3 days with almost no sleep is not the rush it once was.

Unlike many here, I have heard and also participated in the "don't retire too early" line of thinking. I delayed retirement a few years to let the market recover and to get used to the idea of not working. I had to figure out what I was going to do after work. I would agree with the reasons you have identified.

My entire identity used to be tied up in what I did. It was why I mattered. It was like a game and every promotion was points on the board. I was winning at this game but losing at life. Almost all of my friends were work related. From that perspective retirement looked like a lonely descent. Just waiting to die.

Now I believe, I was a complete idiot. There are things I want to do and my time is finite. As long as you have enough money to do what ever it is you want to do, get out and go do it.

I would advise knowing what you are going to do before bailing out. Others may think you can use the free time to discover. I would be worried that I would discover I liked something prohibitively expensive. But I'm a flaming ISTJ so I like plans and contingency plans. Maybe you are comfortable being a little more free and spontaneous. I suspect not since you are also an IT guy and most of us have certain characteristics in common. But I'm guessing.

[marko]

My former HR VP once emailed me that he thought I was too young (53) and doubted that "...skiing the Alps all winter and sailing your boat all summer will keep you satisfied after a while...".

That was almost eight years ago. Still waiting for the dissatisfaction to set in...

[REWahoo]

Quote:

Originally Posted by marko My former HR VP once emailed me that he thought I was too young (53) and doubted that "...skiing the Alps all winter and sailing your boat all summer will keep you satisfied after a while...". That was almost eight years ago. Still waiting for the dissatisfaction to set in...

Along similar lines, the week following my early retirement DW and I took a cruise to celebrate. A couple we met on the cruise, also in their 50's, told us on the last night of the trip that I needed to go back to work - retiring at our age was an early death sentence. Eight years later I'm beginning to think he got it backwards.

[ERhoosier]

Quote:

Originally Posted by haha Or perhaps they find hanging around the house with the little woman less than scintillating? Ha

Now, how can ya post stuff like that ?
Lots of our DW's read this forum too ya know

[martyb]

My mom, who retired (for the final time) at 70, tells me all the time I'm too young to retire, at 55. She firmly believes I'll be bored out of my skull. I tell her that's actually how I feel about work.

[Meadbh]

Quote:

Originally Posted by haha Or perhaps they find hanging around the house with the little woman less than scintillating? Ha

Misogyny, anyone?

[Sarah in SC]

Quote:

Originally Posted by Meadbh Misogyny, anyone?

More like hattery.

[cardude]

Quote:

Originally Posted by superdave This will be my last year before FIRE, but I have had a couple retirees suggest that I not retire too early. I respected these guys, but , each of them had been retired 10-20 years. My view is that they selectively remember the good days at work ( going to coffee with the boys, being a player, etc ), but misremember the days in traffic, getting up and driving thru snow storms, etc. Anybody else heard these commnets?

Why don't you just ask the guys who told you to hold off WHY they said it? Why speculate?

[jollystomper]

Perhaps those who warned "don't retire too soon" simply liked their work and/or had hit a stress-free zone on the job before they retired.

My dad didn't retire until he was 70, and he could have retired by age 60. But he enjoyed his job, was seen as a great mentor too others, was no longer interested in promotions and pay raises, but contributed so that he was not seen as "dead weight". His work hours were extremely flexible, he was able to meet any of us for lunch at the drop of a hat if we were in town, he never missed any family events, and he and my mom traveled at the level they were happy with.

I have a friend at my Megacorp in a similar situation - he started at 18 and has 41 years. Kids all out of the house and married, his wife works part time and I know financially they are on solid ground. But he also loves his work and has a couple of software specialties his management still finds valuable. He is a diligent worker and works from home whenever he can - but if needed in the office he can be there in 10 minutes. His team kids him about "what exactly are you really doing at home", he just laughs and asks them to name a any time when he hasn't responded to them or has been late for a meeting or a conference call. He isn't going to retire as long as they still want his skills and mentoring and they let him work from home whenever he wants.

So maybe those happy in their job and working at the pace they desire might see that one can retire too early. There was another thread that discussed what your company could offer to delay your retirement, and I know there are things I would consider delaying for if Megacorp offered them to me.

[UserRequested]

Quote:

Originally Posted by superdave My view is that they selectively remember the good days at work ( going to coffee with the boys, being a player, etc ),

Being a "player"... Is that when you chase your secretary around the desk and then have your way with her

[superdave]

Quote:

Originally Posted by jags Being a "player"... Is that when you chase your secretary around the desk and then have your way with her

I wish.

Great comments guys. The key thing here is I think both of these guys had more than a decade of retirement under their belt, and were not especially unhappy at work.

Being an IT guy, we are basically useless to a company after a project is finished. So I have no doubt that megacorp will function just fine without me. The other good thing is, once I pull the plug, I could just do contract work should I get bored, which I doubt would happen.

[Idnar7]

I think a big part is the loss of socialization. DW and I frequently go out to breakfast during the week because it is calmer while everyone is w*rking. We often see large groups of men, typically in a separate room or area. They are weekly breakfast clubs of retired local mega corps. They tend to relive their work stories and gossip about what is going on at the mega. You will see the at McD's and food courts at the mall as well. My dad was in such a group of WWII vets. While they generally didn't talk about the war, they talked about their relationships and past reunions. Slowly they ran out of members. I always thought it was kind of sad. I think most have a need to belong to a group and share a common background.

[Dawg52]

My dad and brother both told me not to retire too early. In my brother's case, he had no hobbies and not many friends. He retired at 50 and became depressed, fat and died of cancer at 56. My father said "don't waste away by retiring early". He had a severe case of rheumatoid arthritis and couldn't do a lot physical activities, although he tried. So his retirement wasn't that enjoyable.

Both were gone by time I retired and I decided to ER anyway. I respect the advice they gave me but I was/am in good physical condition and have never been the depressed type. Been retired 6 years and have not once regretted my decision. Golf is a whole lot more fun than work.

[Bestwifeever]

Quote:

Originally Posted by Sarah in SC More like hattery.

Sort of sad too, for both partners.

[lynxville]

First off the decision to retire is an individual thing that that individual must decide. It's what is right for you not someone else. If you can afford it and have a plan to have fun everyday go for it. I retired at 40 and after 5 years decided I was to young. So I started another career which I enjoyed and after several years became bored. The extra money and another retirement check is very useful. But I am still young enough to have lots of fun and enjoy my final retirement. The one big factor to consider is how long will I live, not how long can I work for more money! It's true you cannot take it with you.

[Rich_by_the_Bay]

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Originally Posted by bbbamI No one has ever said that to me. They usually say, 'I'll never be able to retire'....

Yep, that's what I hear the most, too. It sometimes sounds like remorse or cash flow problems, neither of which they are eager to discuss directly.

Excuse me while go thank my blessings.

[haha]

Quote:

Originally Posted by Meadbh Misogyny, anyone?

Who knows? But to me it just seems like a realistic appraisal of day to day social reality for many retired married people. Especially if they are not wealthy enough to have plenty diversions

Ha