It's nice being rich

[Ready]

We reached FI a number of years ago, but I still work part time for two reasons:

1) I enjoy the work on a part time basis
2) No matter what Firecalc and all of the other calculators say, I still have this nagging worry in the back of my head...what if something goes wrong?

What I have not been able to overcome is the concept of LBYM. We can afford to spend a lot more than we do, but I can't bring myself to spend money on things that just don't make financial sense to me...like fancy restaurants, expensive hotel rooms, and other high end luxury items. I suspect we will leave a large sum to charity because of this, but it's hard to change a lifetime of LBYM just because you don't really need to anymore.

 

[Fedup]

It's not the brain. It's pride. It's your ego.

 

[Floridatennisplayer]

I am still working, in a demanding and high stress job, though I am FI. I was complaining to an old friend, who knows my financial situation. I thought he would say "you have the money; if you are unhappy and stressed, you should quit." But he didn't. Instead, his advice was "If I were you, I would keep working because you are making very good money and if you can internalize the fact that you could quit any day and live a very nice life, that should eliminate 90% of the job stress. Then you will have a very highly paid and very low stress job." That is right, I guess. But for some reason its not really working for me. Maybe I am finding it hard to truly internalize the fact that we are FI (despite running FireCalc and similar calculators, which consistently show a 100% chance of success even using spending that is 2x what we currently spend). Or maybe some of the stresses of the job are not related to "needing the job" but instead to just trying to do it well. I'm not sure. The brain is a complicated organ...

This is me word for word! I could stop now...just turned 62. But hate the thought of giving up a large (for me...165k) Income. My plan is to stop at 64 and buy health insurance for a year, or do the Home Depot part time thing with insurance for a year....or If.. I can stick it out till 65. The stress is bad. Just got an email at 9:45 on a Sunday night for 3 things to review on an 8am conf call tomorrow. Ugh

My friend, like yours said, "why do you care or stress?" But stuff like this bothers me. Don't want to get fired, I want to stick with my plan to have plenty of security. I'm a worrier.

 

[jollystomper]

I am still working, in a demanding and high stress job, though I am FI. I was complaining to an old friend, who knows my financial situation. I thought he would say "you have the money; if you are unhappy and stressed, you should quit." But he didn't. Instead, his advice was "If I were you, I would keep working because you are making very good money and if you can internalize the fact that you could quit any day and live a very nice life, that should eliminate 90% of the job stress. Then you will have a very highly paid and very low stress job." That is right, I guess. But for some reason its not really working for me. Maybe I am finding it hard to truly internalize the fact that we are FI (despite running FireCalc and similar calculators, which consistently show a 100% chance of success even using spending that is 2x what we currently spend). Or maybe some of the stresses of the job are not related to "needing the job" but instead to just trying to do it well. I'm not sure. The brain is a complicated organ...

Maybe you still put more value in yourself based on how you do the job currently, and the stress in trying to maintain that level, vs. putting value in yourself based on what you have already achieved.

I like most of my job, and the toughest part of it to walk away from is the high salary (at times exceeding $200K with salary and benefits) for what feels like a hobby. But now that I am FI my time has become more valuable to me. I have cut back my efforts to "to the do job well, but not to excel" - as "excel" for me meant 60-80 weeks, 50%+ travel, and taking on projects highly visible to executives.

I have decided that where I have reached in my career is satisfaction enough. That is what I now value My work is more now "react mode" to help/mentor others and to avoid causing deadline issues for my organization. I found I put a lot of stress on myself as I have perfectionist tendencies... and backing off of those tendencies has greatly reduced the stress.

 

[NW-Bound]

The OP said "It's nice being rich... or FI or comfortable or whatever."

I know I am not rich, just comfortable. Rich is when I fly first-class domestically, and at least business-class for overseas travel, and can pay for it without flinching. It may never happen.

It's OK though. Comfort is good. Comfort is enough.

 

[RISP]

The stress is bad. Just got an email at 9:45 on a Sunday night for 3 things to review on an 8am conf call tomorrow. Ugh

Why do you even read work emails on a Sunday? Just stop doing that!

Seriously, I'm many years from being FI, so I probably need my job a lot more than you need yours, but even I would never spend my weekend worrying about work emails.

 

[Chuckanut]

Not needing the job is but one of many perks of FI..................

Bingo!

 

[gerntz]

or FI or comfortable or whatever
....It probably is only a matter of time and my wife thinks something will finally "set me off" and that will be it. In the meantime I still work hard and do my job but it is so much easier when you know you don't need to and the clock is ticking. Just wonder how long this will be, but someday is closer than it was...

I think you should listen to DW & leave before something sets you off. You don't want it to end that way. A long goodbye - maybe 6-12 months notice - is one approach. Me, I hinted at leaving 2 years before, announced 9 months before, & recruited & hired replacement 5 months before. Easy on emotions.

 

[gerntz]

I am having trouble with being FI and working. We are FI but DH is not ready to pull the trigger, so out of respect and concern for his stress regarding this, I will continue to work while I hope he digests the fact that WE ARE FI.

Not following why his working means you think you have to continue to do so. I'd think your retiring would help him let see better than you are FI; i.e., you're doing fine w/o your income.

 

[gerntz]

Great Thread. FI is certainly a empowering feeling, especially related to your career.

+1

 

[gerntz]

I never thought of myself as really being rich (I once met Bill Gates, which probably changed/warped my perspective ) but I've been FI (for my lifestyle) for at least 10 years. I don't think I ever really hated my job, but it was work and it's something I would not have done if not for the money. (We are all a bit of a prostitutes, in that sense).

I know what you mean. Felt the same way even though we have more than I ever dreamed of. For me, it may insecurity I internalized from my Depression-era father. While Mom & he had enough to be (quite) fine in their retirement, he always sounded like they were on their last nickel.

 

[Bryan Barnfellow]

Long ago I internalized a thought that was expressed, I believe, in the signature line of one of this forum's participants: "You can't add time to the end of your retirement, only the beginning." Something like that. Very powerful, sobering, and ultimately liberating!

-BB

 

[euro]

Long ago I internalized a thought that was expressed, I believe, in the signature line of one of this forum's participants: "You can't add time to the end of your retirement, only the beginning." Something like that. Very powerful, sobering, and ultimately liberating!

-BB

+1 = so true!

 

[kcowan]

I used to be rich because I drove nice cars, had a big house, wore Hugo Boss suits, belonged to the best clubs....

Now I am FI and so not give a fig for any of that...

 

[Cassius King]

I've read too many comments over the years here about people telling stories about family or colleagues who passed within months of retiring, or never even got the chance to retire. I'm not pushing the issue. As soon as my number says I'm ready(and maybe sooner) I'm done. Tomorrow is never promised, so I'm taking today!

 

[street]

I've read too many comments over the years here about people telling stories about family or colleagues who passed within months of retiring, or never even got the chance to retire. I'm not pushing the issue. As soon as my number says I'm ready(and maybe sooner) I'm done. Tomorrow is never promised, so I'm taking today!

So true!
I could of stayed working and kept saving more and more but what is the point.

I suppose I could be worth more if I would have done things different but in the end I really didn't have to do any better because it ended up I have more then I need. I have been very fortunate and lucky in life.

I say and it is sometimes a hard thing to do but retire and live life.

 

[Car-Guy]

I've read too many comments over the years here about people telling stories about family or colleagues who passed within months of retiring, or never even got the chance to retire. I'm not pushing the issue. As soon as my number says I'm ready(and maybe sooner) I'm done. Tomorrow is never promised, so I'm taking today!

I know too many like that myself. As they say, there are only two things for sure in this life. Death and Taxes. Everyday gets you one day closer to the inevitable. Of course I'm talking about tax day.

 

[Marita40]

I'm FI, but at 60 am also planning to work for at least 5-6 more years. Part of the reason is insecurity, as I am single with no one to come to my rescue should any financial disaster occur, so I'd rather over accumulate. But I also like my job; it is easy in many respects, I do my thing and come and go with little supervision, there's little stress. This thread got me thinking, though, of how being FI has changed my working life. One, if things get bad at work I'll quit! Two, I have no ambition for a higher position or title or expending the energy required to get a raise. My goals are simply to do my job well and enjoy it. Three, although I like where I work and have been there nearly 30 years, I no longer care much about the changes being made that will affect the future of the place. When I'm ready to walk, I won't look back. Fourth, my priority is no longer work, but has shifted to other personal goals. I just don't think much about it anymore. Guess to some extent you might say I'm on autopilot--coasting?--but it is a good feeling. Overall I'm just uber relaxed about the whole thing.

 

[RobbieB]

I guess you are a "normal retirement" person then.

Leave at your full SS age?

 

[brewer12345]

Didn't you hear? It isn't cool to be rich, especially not cool to admit it out loud (even with a pseudonym). Shhhh... The 99% crowd might hear and show up with tar, feathers, pitchforks, and maybe even torches.


I know I am not rich because I got invited to go with a group of experienced hunters to chase elk this Fall (something I have been wanting to do for years), but I am blanching a bit because it would necessitate renting an ATV, staying in a motel for 5 days, and buying a new rifle (since I have been advised that most shots are over 200 yards and elk are BIG). I suppose I should be sweating the idea of helping move a 500+ pound animal at serious elevation (9000+ feet), but somehow the couple thousand this would run me is what looms large. Ultimately I will make my peace with it because this is clearly something that I can do now in my 40s, but come my 60s or 70s it is pretty unlikely. At that point I will be happy if I can still chase down rabbits.

 

[Aerides]

The FI/"FU" part is nice, but I also like knowing that I "can" splurge when the occasion arises.

Book that really nice restaurant when on vacation. Get the special. Spring for that upgrade once in a while. Buy that shirt you LOVE when you first see it (vs. waiting for it to go on sale and probably no longer be available in your size).

Not doing all those things all the time, but knowing that you can and the decision is purely based on how much you want it. When the equation is never what you can afford, but what you are willing to spend, the control shifts completely.

 

[Ronstar]

Didn't you hear? It isn't cool to be rich, especially not cool to admit it out loud (even with a pseudonym). Shhhh... The 99% crowd might hear and show up with tar, feathers, pitchforks, and maybe even torches.


I know I am not rich because I got invited to go with a group of experienced hunters to chase elk this Fall (something I have been wanting to do for years), but I am blanching a bit because it would necessitate renting an ATV, staying in a motel for 5 days, and buying a new rifle (since I have been advised that most shots are over 200 yards and elk are BIG). I suppose I should be sweating the idea of helping move a 500+ pound animal at serious elevation (9000+ feet), but somehow the couple thousand this would run me is what looms large. Ultimately I will make my peace with it because this is clearly something that I can do now in my 40s, but come my 60s or 70s it is pretty unlikely. At that point I will be happy if I can still chase down rabbits.

Sounds like fun! And IMO, you should do the hunt now rather than wait.

 

[Dash man]

Rich is having a family who loves you, and having enough to not worry about a comfortable living, giving some away to help others or health care. Everything else is just stuff.

 

[Meadbh]

Rich is having a family who loves you, and having enough to not worry about a comfortable living, giving some away to help others or health care. Everything else is just stuff.

Well, I don't meet your first criterion, and I have very little "stuff", but I do consider myself "rich". I gave more than enough of my time and energy to health care during my career, thank you very much. I'm "rich" because I have enough, or more than enough, to live comfortably for the rest of my days. That is all. YMMV.

 

[imoldernu]

Pour moi, rich = happy