Why does everyone want to retire so early?

[freebird5825]

Hey yall,
I am young and about to enter the work force.

Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?

From my perspective (albeit a relatively uninformed one), aren't you checking out before your number is drawn? That is the time in which your earning potential is at its highest. Also, your job satisfaction should also be at its highest because you have peaked in your chosen profession. Retiring in my late-40s as a senior-managment (partner, or whatever your title is) would seem like a big mistake.

Also, with people living longer and longer... doesn't retirement get boring. I get bored on 3-day weekends (well not really, but a week or two and I am ready to hit it again).

Thanks for informing the younger generation, and please don't take this as a sign of disrespect. Just trolling the board and wondering what the rush is to get out of the work force.

Welcome, and I want to tell you that your questions were excellent.
Why do we FIRE ? Because we CAN. Because we wanted to.
The idea of being in total control of MY time is very appealing to me.
I loved my c*reer field, I just hated what I had to do to earn a paycheck.

"Checking out before..." is a relative term. I FIRED at age 48. I am 50 right now.
I like to think of it as regaining my life back so I can enjoy it on my terms. At a younger age, we had the freedom to choose what we wanted to do with our lives. So we did.
But that all went away once we became employed full time, ingrained in the process of earning a living.

Retirement boring? I am finding that relaxing takes up an awful lot of my time. I literallly set a kitchen timer for 60 minutes when I am surfing here so I remember to get up and move around. I see this forum as a continuing adult education class. I have learned more here than the sum total of what I learned when w*rking.

 

[Boxkicker]

Welcome to the board...

I just retired from the Navy with a little over 20 years. I can tell you, I loved the Navy for most of those years. The last few years really got tiring and after my pre-separation class about the civilian world and work, I can't see myself doing it.

So far, I am enjoying myself not working. I now am beginning school to finish up a Bachelors (6 hours to go) and working on my Masters because I have $40K + in GI Bill. I am doing this mainly to kill time.

I am not bored in the least so far. I am a basketball official which I make $25-50/game which helps with spending money and keeps me physically active. I also am watching my fiance's kids play sports.

Like the others have said, you will realize work is just that work! Being retired is fun!

 

[bbbamI]

Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?

I got tired.

 

[Goonie]

Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?

It's appealing to me 'cause I never liked school or work. But, those were things that were required in life. So I look at life like this:

Birth to about 5 years old = Endless days of play! Life is great! Get up have breakfast, play, eat lunch, nap, play, eat supper, play (until they force you to go to bed), and sleep.....repeat daily for about 5 years. Yea!!!

5 or 6 years old to about 18 years old = Go to school. Learn stuff so the next year you can learn more stuff....continue to about 18 years old. Blech!

18 years old to ?? = Work for da man, to earn money. The more money you spend, the longer you have to work 'til you can afford to break the chains that bind ya to da grindstone....The less you spend and the more you save, the sooner you can gain your freedom....your Financial Independence, so the sooner ya can Retire Early!

FIRE = Endless days of play!!! Life is great! Get up have breakfast, play, eat lunch, nap, play, eat supper, play ([-]until they force you to go to bed[/-] No one can force you to do anything anymore!), and sleep.....repeat daily for [-]about 5 years[/-] the rest of your life. Yea!!!

From my perspective (albeit a relatively uninformed one), aren't you checking out before your number is drawn?

The only thing you're checking out of, is 'work'.....the 'job'...the 'career'....the being told what to do, when to do it, how to do it, etc. You're checking out of the 'daily grind', and gaining the freedom to do whatever you want, whenever you want, anyway you want, for as long as you want! You no longer have to bow to da man....'cause now you're da man!

Also, with people living longer and longer... doesn't retirement get boring. I get bored on 3-day weekends (well not really, but a week or two and I am ready to hit it again).

Life is what you make it. For me, there is no such animal as boredom! I have all sorts of interests, hobbies, activities, and traveling to keep me from EVER even having a chance to begin to think about getting bored!

If work is your #1 interest in life, then retiring and having a lot of time on your hands is likely to cause you some deep boredom! However, if living life is your #1 interest in life, then boredom won't have a chance to even get a toe-hold.

Life Is Great!!!

 

[FIREd]

I grew up in Europe, so work was...how can I say this... never my top priority. For me, work has always been a mean to an end. Doesn't mean I don't take pride in what I do (if I HAVE to work, might as well do it right). But I have never let work control my life.

 

[Goonie]

P.S. - If for some reason you would prefer to not retire early, that would be OK too. I mean, heck, if you want to keep paying into SS a while longer, many of us here would certainly appreciate your efforts!

j.k.

 

[BunsGettingFirm]

All I can say is check back in 10 years.

 

[Frugality_of_Apathy]

All I can say is check back in 10 years.

I'd say check back in 2 years.

It doesn't really sink in until you realize you've worked straight through two summer breaks, winter breaks, and spring breaks aside from those couple weeks you were sick and the couple of hours you had to take to go to the bank/doctor/postoffice/mechanic.

 

[BunsGettingFirm]

I'd say check back in 2 years.

It doesn't really sink in until you realize you've worked straight through two summer breaks, winter breaks, and spring breaks aside from those couple weeks you were sick and the couple of hours you had to take to go to the bank/doctor/postoffice/mechanic.

That's if you're just working a 40-hour week. Try some 2 year death marches for which you're in the office 10-12 hours a day plus 1 to 2 day a weekend. There will be times when you have taken a shower only to realize that you don't have any clean underwear because you haven't had the time to do laundry in 3.5 weeks.

 

[unclemick]

Hmmm - I enjoyed participating in the Space Program - and getting paid for it.

One of my old work buddies Sam(retired AF) used to say " If they didn't pay me to show up - I'd have to buy a ticket to come and watch."

When it wasn't fun anymore and seemed like work - it was time to ER. Interestingly that coincided with my layoff. When I went back as a jobshopper a year later for a lot more money(but no benefits) - it wasn't fun anymore. Put in a yr - topped up my portfolio and been practicing doing absolutely nothing in particular for over a decade - er a tad more.

heh heh heh -

 

[Rambler]

Yeah, what they all said above.

But to add, I rarely get bored on the weekends or vacations. There are too many things I want to do and too little time to do them, not mention just relax.

On the other hand, who says I don't get bored at work? At 47, I have been a senior exec now for the past 7 years. There is only one more slot to fill: global CEO of a company with $20B+ sales...and he's my boss right now. I've thought about it, and can never get myself to think I would ever want that job, although out of all my colleagues at my level, I'm really the only one currently qualified enough to take his place, should he decide to step down (I'm sure there are others outside of megacorp who would qualify). I just can't see myself doing it.

That said, with the exception the relatively new challenges related to running this business in the current environment, I have begun to be bored, from time to time, with what I have to do...meetings, HR issues, annual budget, controlling costs, pushing the sales force....lather, rinse, repeat, lather, rinse, repeat. Its not a bad position, but its just getting a little old, and from time to time the bureaucracy and political maneuvering get out of hand and become stressful.

I'm beginner FI right now, and when the economy settles and my port recovers (solidifying my FI), then I will RE, and enjoy doing what I want when I want.

R

 

[deserat]

Thanks for checking in - and if you want to become financially independent or retire early (FIRE), the fact you are asking at this young age means you will have an awesome chance to do just that by starting when you are young (browsing through the archives of this place under LBYM and Asset Allocation will put you on an awesome start).

You ask good questions - for me it's a matter of having options - Nords suggestion of reading "Your Money or Your Life" is an excellent one. All we have is time - what we decide to do with that time becomes the measure of our life. Money is a form of deferred time. If we save money, we gain access to time (and options).

Example relevant to today - the news is telling us we are in dire economic straits right now. If you are in a position such that you have some savings (money), you have the luxury of time: to find a new job, to not work, to travel, to buy something at a good price (to outwait or be in a position to negotiate anything). This can ease your mind; you don't have to take whatever is offered to you job-wise, deal-wise, etc. You can pick to time that is convenient for you.......it is hard to understand when you are young, but it will become evident as you gain more experience in the world.

Good luck on your journey and I do hope that either you find a job or avocation you love or you understand and perhaps work towards FI and or RE.

 

[brewer12345]

That's if you're just working a 40-hour week. Try some 2 year death marches for which you're in the office 10-12 hours a day plus 1 to 2 day a weekend. There will be times when you have taken a shower only to realize that you don't have any clean underwear because you haven't had the time to do laundry in 3.5 weeks.

Simple: go commando.

And you forgot to add in evening grad school classes and/or cramming for industry certification tests on top of the above. And maybe trying to see your wife/kids/dogs/the sun once or twice a week...

 

[mews]

Simple: go commando.

And maybe trying to see your wife/kids/dogs/the sun once or twice a week...

Whaat! When you could be w*rking?!? Not a team player, Brewer!

ta,
mew

 

[kcowan]

Early on I took the view to maximize my hourly pay because I had seen my Dad do amazing things while he was underpaid. I discovered that the financial returns were higher for putting my ego on the line. This was not comfortable so I worked with external counselling to become comfortable with ego exposure.

Then I adopted the approach of acting like I thought the next higher level would demand, and pretty soon these levels were offered. As the higher responsibilities tended to command too much time, I then worked on life balance.

In hindsight, I loved every step along the way and was always ready to accept new challenges. When I was 49, a optional golden handshake became available. After some soul-searching, I made the next step. I was not ready to ER so I did a number of previously unfulfilled activities for good pay.

Once the checklist was completed, I retired early.

I present this scenario to illustrate that FI has to be adopted as an early goal but ER can be played by ear once FI has been achieved.

 

[ziggy29]

I present this scenario to illustrate that FI has to be adopted as an early goal but ER can be played by ear once FI has been achieved.

Yep. The bottom line is this, I think: Wouldn't you rather go to work because you want to and not because you have to? I can only imagine knowing that you are working unshackled by financial need would be a very liberating feeling. You could basically say "screw it, I quit" any time things got too crappy. If you're not FI, all that will do is stress you out and force you to accept it and keep working.

 

[kumquat]

Hey yall,

Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?

Since this is a forum dedicated to Financial Independence and Early Retirement, isn't it likely that most of the people are here because they support that goal?

 

[Architect]

There are a few people who are blessed with truly loving their work. There are few people I envy more in the world than those who can do something they love to do -- something they might choose to do for free -- AND get paid for it.

...

Ziggy's entire post sums it up. I'd just add, as others have said, that people go typically through a change at 40. For some reason the oomph for works starts to wane. Many cultures have recognized this, so it must be part of the human condition.

It's funny though, FI was the most important goal throughout my 15 years of working. Then I reached a minimum FI last year, and learned what the real problem was - what do I want to do the rest of my life? I tried leisure - that wasn't it. My brain is too active, I want to keep learning and doing something useful. I tried a bunch of things, and finally found that what I was doing (writing software) really WAS what I liked doing. There was a reason I got into the field 15 years ago!

I'm still sorting this out, I luckily have a great job with a great boss and coworkers at the moment, but I would like to work in a new area. Or maybe working for myself would be better. Anyhow, because I have FI I have the freedom to do what I want. And that's invaluable. If my job ever gets sour again (and it was very sour a few years ago) I have more choices.

 

[Meadbh]

That's if you're just working a 40-hour week. Try some 2 year death marches for which you're in the office 10-12 hours a day plus 1 to 2 day a weekend. There will be times when you have taken a shower only to realize that you don't have any clean underwear because you haven't had the time to do laundry in 3.5 weeks.

Yeah!
Last time I calculated, I worked 30 out of 52 weekends in a year.
The underwear thingy happens to me all the time.
Yesterday I went shopping for the first time in months.

 

[Mike on fire]

It's great that you're asking questions at this early time in your life. I just joined this site because I am struggling emotionally with some of your points and I am one of those people who, according to you, should be entering my peak earnings years. I'm 38 and have achieved financial independence, which means I don't HAVE TO work in a job or a career that I don't like anymore. (I am about to pay off my mortgage on a great home, have no debt, and have lots of savings and investments which could pay my bills for several, or even many, years without working). I have had nearly 20 years in a profession which in many ways was tailor made for me - I'm one of the lucky ones who found my calling and thrived in it, and in fact through hard work and good timing, that calling actually created my FI. So, now I am stuck in this vortex between FI and ER. Some of the folks on this site have told me I am too young to think about retiring, and I know that they're right, and I know that I would drop dead if I didn't keep working in some fashion. But at the same time, I want to use my FI to improve my quality of life, to tap my professional skills but in a different way, a different environment, and not have to rely on a certain level of income. As someone else on here said, I want to love what I do for $, not dislike what I do for 3x$. I think this is the key. And I think FI is a state of mind, a psychological freedom that can improve your state of mind for the rest of your life. Whereas ER is an action, a decision to take. They coexist nicely, but I'm learning that FI can be more satisfying and more beneficial than ER, especially when you're young.

 

[ziggy29]

That's if you're just working a 40-hour week. Try some 2 year death marches for which you're in the office 10-12 hours a day plus 1 to 2 day a weekend. There will be times when you have taken a shower only to realize that you don't have any clean underwear because you haven't had the time to do laundry in 3.5 weeks.

At one point back in my sysadmin days, we were on crunch time to deliver a major software package to our customer. As I recall this was Megacorp's first major commercial space effort (i.e. with a customer other than the government) and they were determined not to blow it. So they authorized unlimited overtime pay for every engineer and tech guy on the project. This went on for nearly a month.

One young guy (not yet disillusioned by corporate America) logged 101 hours one week.

As the guy who was responsible for making sure the workstations on the network kept running, I was merely asked to be on site and not do anything that might take CPU cycles away from the developers and testers. So basically I was like a fireman waiting for a distress call. One week I put in 77 hours, about 70 of which were just kicking back at my desk, reading books and magazines and messing around on my PC (both surfing the net and playing games). And management was okay with that -- they just wanted me there to immediately respond to system problems.

It wasn't hard work, and I liked getting paid for 77 hours of "work" in one week, but even that would get old after a while.

 

[Moemg]

I really liked my job and I did not even mind the long hours and the heavy work loads till my mid fifties and then it got harder and harder but I still enjoyed it . At 59 the enjoyment was fading fast so I retired . I get bored occasionally but then I find some project to do and it fades .

 

[calmloki]

It's surprising to me how little i've worked for wages or salary - enough to get social security, but not enough to buy groceries come 62. For some years we both worked (for the last 4-5 of my working years i was 1/2 owner of a little import car repair shop) and also worked on building up a pool of rental properties. When we were younger we showed off our abilities to each other and were united in our lust for the game of finding and making good little places out of bad.

When the shop partnership faded i noticed that there was enough money coming in that i could just manage the rentals and skip other work - so i did. A couple years later my gal went 1/2 time, then independent time. She has never been motivated by money and gets paid a nominal amount - she just likes knowing chunks of her business that others don't and the social contact. Going to turn 60 this year and am a bit trapped by the lack of buyers for our rentals - I'm getting less able to do many of the repair/maintenance jobs that are called for - and less willing to do them! Also getting less happy dealing with the renters - have seen the same situations too many times, know how they will turn out, and don't want to see the same play again. I don't want to be a crabby old landlord - i do want to provide surprising service - i do not want the open spirit of my soul to close up and darken.

 

[Bestwifeever]

But you are planning to help your parents retire early (http://www.early-retirement.org/forums/f30/helping-parents-retire-41851.html)....

At your age your job can fill lots of needs--financial, social, professional. It is great that you are excited about it (and you have an unbelievable starting salary per the above thread). As you progress in your career you hopefully will find that those needs have been fulfilled but sadly may lose your enthusiasm for doing the same thing day after day, year after year.

But good luck in your career--let us know how the bar exam goes.

 

[haha]

Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?

I think the main reason is that this is an early retirement forum. If we weren't interested in ER, why would we be here?

When you draw from the whole English speaking world, you can form a group dedicated to most anything.

Ha