They just keep on working

[Sojourner]

I know two guys, both very wealthy, who continue to work well into their late 60s/mid 70s. Both started and still run their extremely successful companies, and both seem to be enjoying it. One of them has a NW in the low/mid nine figures, and he told me once that he keeps working and trudging into the office every day (even weekends) because "I don't know what I'd do with myself if I stopped working."

People like this are not driven by money the way 99% of other people are. They are driven by prestige, achievement, and building a business legacy. My 9-figure acquaintance, for example, gets more of a thrill talking and bragging about his business achievements and networking with others like himself who do the same than he does going on exotic vacations, playing a round of golf at Augusta National, or even spending time with his family. From what I can tell, entrepreneurial prestige is his religion and he is a happily devoted adherent.

 

[marko]

I don't think most REALLY top-level executives ever bail out early. They're corporate demigods -- why would they want to give that up?
.

That was me.

I lived like a rock star for 30 years (lots of power, big pay, a driver, first class travel, apartment in Paris) but just as it stopped being fun, we sold the company and I was deemed redundant by the new owners. I was 52.

Fourteen years later, it all seems like a dream that never really happened; I'm a much better, healthier person now for having left it behind.

 

[Dd852]

That was me.

I lived like a rock star for 30 years (lots of power, big pay, a driver, first class travel, apartment in Paris) but just as it stopped being fun, we sold the company and I was deemed redundant by the new owners. I was 52.

Fourteen years later, it all seems like a dream that never really happened; I'm a much better, healthier person now for having left it behind.

Ditto that brother. I thought I was having fun, but when the decision was made for me (also at 52!) it opened up a marvelous new world. It hurt like hell at first. It took probably about a year to get over the “me?? They dumped me!! But... but...” Once over that psychological hump, it’s been great, and yes, far more healthy and sane. I’m not quite sure now how DW put up with the old me. The present me is much better.

 

[Lawrencewendall]

I can relate why some people just keep w*rking. The apprehension and second guessing myself over my numbers is unbelievable. I keep thinking I missed something. I still joined the class of 2019 (7 June).

 

[COcheesehead]

^ that is interesting! If you own or a partner I could of seen myself working late in life. In most cases it isn't the work we did that was a drag but the politics. In ownership you are the Gov so the politics don't have the effect like an employee. Which would make staying and work more appealing. Lol

I own a business, currently in the process of selling it. Being on top has its own set of issues. You end up being the chief baby sitter and you never really, ever leave work. Its always with you.

 

[audreyh1]

The few people I know who are financially independent and still work are those who have a lot of control over their work situation. Those who have to work certain hours, and have a boss tell them what to do and when, seem to like an earlier retirement.

Exactly!

 

[marko]

Ditto that brother. I thought I was having fun, but when the decision was made for me (also at 52!) it opened up a marvelous new world. It hurt like hell at first. It took probably about a year to get over the “me?? They dumped me!! But... but...” Once over that psychological hump, it’s been great, and yes, far more healthy and sane. I’m not quite sure now how DW put up with the old me. The present me is much better.

Yeah. In my case I knew it was coming a few years ahead as I was directly involved in the sale. Also, I had a hefty contract which made my departure a lot more palatable but as you say, it's a whole lot better now.

Best thing that I ever did.

 

[HI Bill]

There are several people on my block who are known to be wealthy, yet still go to w*rk every day in their 80s (one recently turned 90). Some own their own businesses, others are partners. They all seem very happy with their lives, which is all that matters.

The question I would ask them if I could: If you were dying today, without retiring and doing something else with your life, would you regret not doing so? If the answer is no, then they made the right choice. Some people truly live for thier work, and love it, and some people need to stay busy.

Many early retirees I met on Maui found jobs or started doing what they had been doing on the mainland after arriving around age 50. Real estate agent went back to selling real estate. Landlords started buying new properties. Etc. They all thought Hawaii, diving and exercise would be enough for them, but apparently, it wasn't. I sure hope I don't turn out to be one of them. But if I am, and I refocus on something that is more of an avocation than a vocation, then that's all right (e.g., professional underwater photographer).

 

[marko]

The question I would ask them if I could: If you were dying today, without retiring and doing something else with your life, would you regret not doing so? If the answer is no, then they made the right choice. Some people truly live for their work, and love it, and some people need to stay busy.

And some people just lack the imagination of not having a job.

They can't visualize sitting on a beach in Italy for an entire season, eating late dinners and reading the paper in the shade over a cup of cappuccino. It's NOT "like being on vacation every day"...it's different; it's now how you live.

 

[audreyh1]

I think that some imagination is required for a fulfilling retirement and if someone has no interests outside of work and can’t imagine life not working, then maybe it’s better for them to keep working.

 

[joeea]

I see/know people like this. Some just lack imagination. They have never put much thought into “what would you do if you had the time and the money.”
No disrespect to anyone, but it’s easy to hit the alarm, get up and do the same thing everyday.

Lack imagination? What nonsense.

Sure. The ER crowd has it so hard. Good for them for not taking the easy route.

Sheesh.

 

[COcheesehead]

Lack imagination? What nonsense.

Sure. The ER crowd has it so hard. Good for them for not taking the easy route.

Sheesh.

The ones I know personally certainly do. When we talk about why they are still working, the response is usually "I wouldn't know what else to do."

 

[marko]

I think that some imagination is required for a fulfilling retirement and if someone has no interests outside of work and can’t imagine life not working, then maybe it’s better for them to keep working.

The ones I know personally certainly do. When we talk about why they are still working, the response is usually "I wouldn't know what else to do."

Back when I was in my 20's we had a guy who just wouldn't retire even though he was well able to.

We were scratching our heads until one of us said: "Y'know...he has no hobbies, no life outside of this, not photography, travel or stamp collecting...there's nothing out there that he wished he could be doing"

 

[Svensk Anga]

I knew a fellow who kept going well into his 70's and he did rotating shift work. This was back when corporate defined benefit pensions were still common. He probably had like 50 years of service.



It finally came out that his father had died very shortly after retiring. This poor chap was afraid he too would drop dead if he gave up work.

 

[Mr._Graybeard]

That was me.

I lived like a rock star for 30 years (lots of power, big pay, a driver, first class travel, apartment in Paris) but just as it stopped being fun, we sold the company and I was deemed redundant by the new owners. I was 52.

Fourteen years later, it all seems like a dream that never really happened; I'm a much better, healthier person now for having left it behind.

You suggest that it stopped being fun, but at the same time it sounds more like your departure was involuntary. If you had remained a rock star -- if, in fact, the company's ownership change had come with a significant advancement in power, money and prestige for you, would you have left?

 

[deserat]

The few people I know who are financially independent and still work are those who have a lot of control over their work situation. Those who have to work certain hours, and have a boss tell them what to do and when, seem to like an earlier retirement.

This - control over your work situation can make a huge difference.....my career has been one of work hard, semi-retire, work less hard, semi-retire, work less ;-)

People have different things that motivate them. Those who fare best know what those things are and align their lives and time spent on those things. It's one of those simple but necessarily easy things to do....sometimes it takes a long time to get to know yourself so that you can align things.

 

[RetMD21]

I have worked well past the point for FI because some aspects of the job are great but the bs bucket is filling , life is short, and other activities beckon

 

[laurence]

Best friend is 47 to my 44, has three times my net worth, lots of passive income and a smaller mortgage payment than me, still feels he needs more to be safe. But he’s got two kids to put through college and works an extremely flexible schedule from home in the finance sector, guy plays tennis mid week at least once a week etc. he’s not suffering. If I had his NW I’d quit but hey to each their own.

 

[steveark]

That was me

I was that guy, a big deal at work, minor celebrity because I was the face of one of the best known companies in my state. It is kind of fun when everybody knows your name and is happy to see you. Like being the mayor or maybe the governor. It felt like they were throwing money at me at work. I wasn't sure who I'd be if I retired. But then I did retire, it just stopped being as fun once the money became useless to me. And retirement is great, but I still consult a day a week so I'm still a public figure with the same network, I like it that way.

 

[JeKa]

There are volunteer opportunities, if you need something to occupy your time. I think you will find that you can keep as busy as you want.

 

[JeKa]

I worry this a bit. I am 2 years, 5 months from RE. I honestly don't know what life could possibly be like without the structure of a daily routine, a job. I don't ascribe my self-worth or identity to my job, but because of my job, I don't have much time for a life outside of work. Could this push me to simply keep working? Not sure.

There are volunteer opportunities available that can keep you busy if that is what you need. Once you get retired, look around. Churches, hospitals, state parks, etc can all use volunteers, several hours a day, once a week or more depending on your NEW schedule. Figure out what you need to feel satisfied with retired living, in between those trips you have always wanted to take.

 

[almost there]

Some folks enjoy being Institutionalized. Or have a need to feel important.
Its easy. And predictable. Others have no idea what it would be like
being at home most of the time. And are scared to death of it.

I on the other hand, wake up and everyday is Saturday.

Different strokes I guess.

Have a friend who is a VP of a large Co. At 59 he makes about a million a year.
He won't leave because the money is just too good.
Everyone's situation is different I guess.

 

[street]

I can see where some that make SO much money from their job, that it would be hard to just give all that up. There still has to be stress and problems involved with their job. I guess when they are dead and gone who is really going to care about all there fame and fortune they made in salary/wages etc..

I can see I'm a small fish in a large tank and my status and salary is peanuts to most. Lol

 

[steveark]

I'm loaded up with volunteer work from chairing a college board to chairing a large foundation. I volunteer at my university and church. It does add to my life.

 

[SpinDoctorTX]

Most of us can't understand their motivations because we are clearly wired differently. The highly successful Type-A type who enjoy their work and have no plans to quit? Congratulate them!

Many years ago one of my employees was marveling at our CEO's salary (8M or something) and said "wow I would just quit and retire after one year of that!". I answered, "Me too, and that's why you and I will never be a CEO".

If all the world was folks like me, who would run all those companies!

I am with you 100%. I was happy to be a darned good, very happy, and well compensated worker bee. I'd have worked a few years past 56 if certain changes in my department (with which I'd have double the direct reports- yuck) made the thought of sticking it out any longer unbearable. I don't miss metrics, politics, audits and I really don't miss financial analysis!

I'm loving every minute of my retirement.