Kevin O'Leary discourages FIRE

[bushpilot]

There are other (and often better) ways to have social interactions besides getting paid for it, just like there are better ways to have sex than being paid for it.

Likewise if one desires to be "productive" (generally a healthy desire), getting paid for it is not the only way to get there.

 

[kcowan]

In the last week I've had a taste of "retirement without anything else to do" as I recover from being sick. It's tough being cooped up, and I could see how someone doing this voluntarily would see work as a better option.

When I got bed-ridden, I rationalized that at least it was a day off. Now that I am retired, I resent the intrusion to my active retired life.

 

[MRG]

I will take the opposite side on this opinion. I think he is right for MOST people but not for people who have had a plan for a long time, have modeled their options, have thought about health insurance, budgeting, and social life. My dad, who without any kind of plan and savings, quite at 62 because someone made him angry is living solely on social security. I suspect 90% of people who retire early are like my dad.

Well I left early because my VP was a screaming idiot but that's where the similarities end. I had a plan and savings, I left a year early for my health. No sense staying to be yelled at and insulted because someone doesn't have a clue about technology.

No amount of yelling changes how hard people w*rk, the smart ones find different things to do.

 

[Spontaneous Saver]

I'm at work right now and I'm bored.

+1

 

[Teacher Terry]

My social life never revolved around work. I kept the 2 separate.

 

[Gumby]

Who is Kevin O'Leary and why should I care what he thinks?

 

[MarieIG]

He's dead to me. Kevin, turn around, and walk out that door.

 

[youbet]

I will take the opposite side on this opinion. I think he is right for MOST people but not for people who have had a plan for a long time, have modeled their options, have thought about health insurance, budgeting, and social life. My dad, who without any kind of plan and savings, quite at 62 because someone made him angry is living solely on social security. I suspect 90% of people who retire early are like my dad.

I'll take that one step further.......

Here on this forum, many define FIRE differently than what O'Leary is talking about. He was in his 30's when he became very, very FI and did retire. But then, three years later, decided the rush of starting another successful company, being employed in a challenging/stimulating situation or similar was calling to him and he went back at it. That's very different from many of the members here who talk about FIRE in their late 50's or into their 60's and even then are overcome by the "OMY" syndrome.

To me, the interesting cases to read about on this board are the folks FIREing in the sense the millennials think of it....... EARLY, and likely with some risk and acceptance of the unknown involved. The risk can be financial, family, personal, social or other. But many/most of us, like myself, chose to remain in the harness and pulling the plow into our 50's and 60's for whatever reasons. I really can't fault O'Leary for pointing out what he's pointing out.

My idea of the ideal "earn a living" scenario is that your're clever enough to earn money doing things you enjoy whether you're employed, self-employed, a business owner, etc. You move from opportunity to opportunity freely when you wish never selling your time into an unhappy situation. And when you're tired of it, you find you're FI and switch to treading roads without concern for income.

 

[HadEnuff]

My guess is that Kevin O'Leary, although not retired, does not have to bother himself with tasks that are boring or otherwise very distasteful, or shortsighted unpleasant egotistical bosses to make his life miserable.

 

[RobbieB]

All these blowhards can say whatever they want.

If I wasn't here I wouldn't even have known of Mr. O'Leary's opinion of early retirement.

I agree with socialization with one's work mates though, I still have dinner with a guy I worked with 40 years ago that lives 400 miles away from the first job I had out of school. That's 8 companies and 400 miles away. He's still working field sales and calls me when up from So Cal.

 

[youbet]

My guess is that Kevin O'Leary, although not retired, does not have to bother himself with tasks that are boring or otherwise very distasteful, or shortsighted unpleasant egotistical bosses to make his life miserable.

I imagine that's true! Since most folks typically spend more years earning money than they do retired, career management is probably as much or more important than FIRE planning. Spending 40 years pulling the plow through hard, rocky ground is not a wise way to spend our precious time! I cringe reading about folks who spend years and years at a job where they're miserable yet just can't career management themselves into a more desirable situation. Apparently Kevin has his act together in this regard..........

 

[unclemick]

Unless a body part is sore at the end of the day and you have dirt under your fingernails it ain't real work. It also helps to get what you consider lousy pay that you feel is needed.

Everything else is fun.



heh heh heh - so the article is about a guy having fun - a better word than 'work.'

 

[timo2]

OMG

 

[ShokWaveRider]

Kevin O'Leary was always a Blue Collar / working man's celebrity. It may work for his fan base, but not for the majority of those here at er.org or those with a decent education.

 

[Nick12]

His net worth is $400 million dollars. He's done well.

 

[ShokWaveRider]

His net worth is $400 million dollars. He's done well.

Some people claim to be worth Billions, but look at their fan base.

 

[brett]

If Kevin wants to work until he drops dead fine.

We decided to retire early. We wanted to enjoy our good health and our financial resources. We do not want to be the wealthiest people in the retirement home.

 

[Dawg52]

Retired 12 years. I guess I'm too dumb to know I'm happy or not. Which is fine by me.

 

[Markola]

Puritan absolutism is alive and well.

 

[kcowan]

He likes playing the role of Mr Wonderful rather than actually working.

 

[W2R]

From the article,

"Working is not just about money. People don't understand this very often, until they stop working," O'Leary says. "Work defines who you are. It provides a place where you're social with people, it gives you interaction with people all day long in an interesting way. It even helps you live longer and is very, very good for brain health."

(Yawn). I think he should rephrase it, to just refer to himself only. I would suggest to him that many people regard work as, well, WORK... not a place to party, to "find oneself", or as their sole source of intellectual stimulation. In fact, at many places of employment, one is expected to actually work. Imagine that.

I can't imagine how someone like him could have ever kept a job.

 

[daylatedollarshort]

Volunteering, clubs, classes meetups, church affiliation, dog parks, gyms - there's all sorts of ways to socialize outside of paid work. I met became good friends with someone I met randomly at a McDonald's once while our kids were playing in gym area.

 

[W2R]

Volunteering, clubs, classes meetups, church affiliation, dog parks, gyms - there's all sorts of ways to socialize outside of paid work. I met became good friends with someone I met randomly at a McDonald's once while our kids were playing in gym area.

+1

Part of growing up is learning how to make friends.

One terrific advantage to having been a Navy wife, is that each time we were relocated I had to make new friends. It's pretty easy to do, with a little practice, and this skill has helped me so much throughout life.

 

[redshift]

To quote Shark Tank, "I'm out"![emoji41]

 

[CoolRich59]

In the last week I've had a taste of "retirement without anything else to do" as I recover from being sick. It's tough being cooped up, and I could see how someone doing this voluntarily would see work as a better option.

My thoughts as well. I’ve been down with a nasty case of bronchitis for the last 6 weeks. For 3 of those weeks, the only time I left the house was doctor appointments. I’ve gotten antsy and bored - but on the plus side, I’ve gotten through 3 books and binged 2 TV shows.