Neighbor Un-Retired after spending for Home Upgrades

[cyber888]

I've read some article and also some retirement advice about getting carried away with home improvements, I never thought much of it until I met a neighbor yesterday.

I met an old neighbor in our neighborly grocery store, and he remembered me, because we have the same home builder and basically we used the same home parade winner floor plan with some minor changes back in 2003 to build a brand new house in our subdivision. Basically, we have the same floor plan.

At any rate, we started talking and he was proud to show me tons of pictures of home improvement he did in the house last year on his iphone - like he changed everything in the kitchen, removed all of it and installed a new kitchen island, new sink. He demolished his cupboard cabinet. And he spruced up his fireplace with new tiles, new walls, and he also upgraded his floors (not sure if it's just the kitchen floors or more). He said he spent at least $75,000 for the upgrades for the kitchen alone.

So, I asked him if he was retiring in his house now after all the remodeling he did last year, and I told him I just retired this year.
And he said he retired 4 years ago, but that he need to go back to work again ASAP and un-retire.
With how much he is enjoying all his home improvements, I don't think he is bored being home. I got the impression that he needs to earn money again after the major spending.
DW, who was with me, also had the same impression that he needs to go back to work to pay for that home improvement spending.
I certainly would not do it, if I have to go back to work. Have you heard anyone who did this and had to go back to work?

 

[skyking1]

I think you could insert <fancy new motorhome> <Vacation property> etc in the same statement. I have heard of people working longer or going back for those kinds of expenditures.

 

[Koolau]

Years ago, the SAHM across the street had to set up a barber/beauty shop on her back porch to cover the cost of her new van. Her husband had the only car but she wanted that nice van so badly that she was willing to take hair appointments all day to pay for it. It w*kred out well for me as I could walk across the street for a quick hair cut for $5. I never understood the trade off for her, but she seemed happy with the compromise. Funny what we all think is important in life. YMMV

 

[Lewis Clark]

My neighbor was fully retired when he moved into the house next door. He chose that house in part because it did not have a pool, because he didn't want to deal with the upkeep of a pool.

Then he fenced in his back yard and installed all new back yard sod. Then he ripped out most of the sod to install a pool. Then he did some other remodeling inside the house.

Then he went back to work part time to help pay for it all.

 

[freedomatlast]

If he had to return to work to pay for, let's say, $150,000 in home improvements, he probably wasn't ready to retire financially in the first place. Of course, OP is just guessing the reason for his return to work was the need to pay for the home improvements.

 

[Jerry1]

If he had to return to work to pay for, let's say, $150,000 in home improvements, he probably wasn't ready to retire financially in the first place.

Exactly what I was thinking.

 

[punkinhead]

I learned about that trap in 2008 while working for a company in financial trouble. We'd get 2 week layoffs at half pay every month or two. I spent a lot of that time doing home improvements. Home Depot and Lowe's loved me that year. Now that I'm retired I don't have time for it because I'm always camping/hiking/fishing/biking/etc.

 

[MC Rider]

I've had that thought while spending money on building our garage. Being careful to keep a lid on the expenses, I do NOT want to go back to w*rk.

I think some of the contractors we have been dealing with think we are rich as I write them a 4 figure check. Hopefully I disabuse them of that idea when I say, I'll diy that one. Next time I'll make sure to point out some of the stuff I diy'ed. I have a lot of tools! And I know how to use most of them.

 

[Aerides]

Have you heard anyone who did this and had to go back to work?

I think a lot of people say things without sharing the actual story. Perhaps he has crazy debt, invested poorly, or has a child with problems he wants to help, or he's just bored and doesn't really have many friends outside of work, or doesn't really like being retired that much.

Far easier to say "hehe this kitchen isn't going to pay for itself!" to gloss over what might be a more painful subject.

 

[jollystomper]

I think a lot of people say things without sharing the actual story. Perhaps he has crazy debt, invested poorly, or has a child with problems he wants to help, or he's just bored and doesn't really have many friends outside of work, or doesn't really like being retired that much.

Far easier to say "hehe this kitchen isn't going to pay for itself!" to gloss over what might be a more painful subject.

+1

It normally is not just one "single" thing, particularly something one chooses to do - not like the house was hit by a meteor and he had no choice .

Also, it might just be what he defines as his retirement financial "cushion" is smaller than he wants it to be ("uh-oh, I only have 4.75 million put away instead of 5 million, better get back to work").

The only one I know who had to unretire due to one single thing was due to being the victim of a scam (invest the bulk of retirement savings in a "sure thing" in an overseas country that did not end well).

 

[COcheesehead]

Correlation yes. Causation, likely not.

 

[W2R]

I think a lot of people say things without sharing the actual story. Perhaps he has crazy debt, invested poorly, or has a child with problems he wants to help, or he's just bored and doesn't really have many friends outside of work, or doesn't really like being retired that much.

Far easier to say "hehe this kitchen isn't going to pay for itself!" to gloss over what might be a more painful subject.

Makes sense to me.

I am SO GLAD I haven't had to "un-retire" like that. Retirement has been the most wonderful experience, for me anyway.

 

[marko]

My neighbor was fully retired when he moved into the house next door. He chose that house in part because it did not have a pool, because he didn't want to deal with the upkeep of a pool.

Then he fenced in his back yard and installed all new back yard sod. Then he ripped out most of the sod to install a pool. Then he did some other remodeling inside the house.

Then he went back to work part time to help pay for it all.

My next door neighbor planned for a four week construction of a $100k pool. Due to unforeseen issues like huge boulders, ledge and other underground problems, it took 56 weeks and cost him $350k. A quarter mill over budget!

He wasn't planning to retire early but now says he'll never be able to. Awesome pool though.

 

[WhenIsItTime]

If he had to return to work to pay for, let's say, $150,000 in home improvements, he probably wasn't ready to retire financially in the first place. Of course, OP is just guessing the reason for his return to work was the need to pay for the home improvements.

Agree. If this is a financial problem, neighbor has bigger problems. Seems phycological which is also a shame.

 

[Teacher Terry]

I don’t know anyone in that situation. Many of my friends are still consulting part time in their fields like I am because they really enjoy it and can set their own schedule.

One of my friends is renting a booth in a craft store for 100/month because she loves to crochet and has a ton of stuff she made to sell. She does it because she loves to be creative.

 

[pacergal]

Makes sense to me.

I am SO GLAD I haven't had to "un-retire" like that. Retirement has been the most wonderful experience, for me anyway.

Ditto, me too!

 

[Fermion]

I think you could insert <fancy new motorhome> <Vacation property> etc in the same statement. I have heard of people working longer or going back for those kinds of expenditures.

Boat works very well.

 

[Dtail]

Makes sense to me.

I am SO GLAD I haven't had to "un-retire" like that. Retirement has been the most wonderful experience, for me anyway.

Same here. A few plans in place which would be utilized instead of going back to work.

 

[MarieIG]

I think a lot of people say things without sharing the actual story. Perhaps he has crazy debt, invested poorly, or has a child with problems he wants to help, or he's just bored and doesn't really have many friends outside of work, or doesn't really like being retired that much.

Far easier to say "hehe this kitchen isn't going to pay for itself!" to gloss over what might be a more painful subject.

Very astute.

. . .

I am SO GLAD I haven't had to "un-retire" like that. Retirement has been the most wonderful experience, for me anyway.

Ditto. I took to retirement like a duck to water. I am very grateful to have had the option to retire . . .

My next door neighbor planned for a four week construction of a $100k pool. Due to unforeseen issues like huge boulders, ledge and other underground problems, it took 56 weeks and cost him $350k. A quarter mill over budget!

He wasn't planning to retire early but now says he'll never be able to. Awesome pool though.

Wow! That must be some pool. (I think a salt-water pool, in a bird cage, would be nice in a very warm climate, i.e. Arizona or Florida, but I wouldn't "unretire" for one.)

 

[PatrickA5]

My house will need interior painting and a new roof within a couple of years. While I don't plan on unretiring, I could probably pay a lot of rent with what my roof will cost.

 

[Koolau]

I've read some article and also some retirement advice about getting carried away with home improvements, I never thought much of it until I met a neighbor yesterday.

I met an old neighbor in our neighborly grocery store, and he remembered me, because we have the same home builder and basically we used the same home parade winner floor plan with some minor changes back in 2003 to build a brand new house in our subdivision. Basically, we have the same floor plan.

At any rate, we started talking and he was proud to show me tons of pictures of home improvement he did in the house last year on his iphone - like he changed everything in the kitchen, removed all of it and installed a new kitchen island, new sink. He demolished his cupboard cabinet. And he spruced up his fireplace with new tiles, new walls, and he also upgraded his floors (not sure if it's just the kitchen floors or more). He said he spent at least $75,000 for the upgrades for the kitchen alone.

So, I asked him if he was retiring in his house now after all the remodeling he did last year, and I told him I just retired this year.
And he said he retired 4 years ago, but that he need to go back to work again ASAP and un-retire.
With how much he is enjoying all his home improvements, I don't think he is bored being home. I got the impression that he needs to earn money again after the major spending.
DW, who was with me, also had the same impression that he needs to go back to work to pay for that home improvement spending.
I certainly would not do it, if I have to go back to work. Have you heard anyone who did this and had to go back to work?

I wonder if he was ashamed to admit he WANTED to go back to w*rk so he led you to believe he needed to cover his cost of home projects. My dad was looking for w*rk from the day he retired at 65 until he was 80. Sad, really. I'm trying to restore the family honor by retiring early and NOT going back to w*rk.

Full disclosure: DW and I just completed a paid university study on falls. Not really going back to w*rk - more like an "amusement" that happens to pay us a few hundred dollars. YMMV