27 year old dislikes working 40 hours a week

[martyp]

Planning for retirement while you are young is great but you are going to have to w*rk for a long time to achieve it. I think you need to find a job that motivates you to come to w*rk. Just liking your job is not doing it for you. Find something that is meaningful to you; or with people you like; or the flexibility you need; or hours that are better for you. Do you have hobbies or interests that can turn into paying w*rk or will give you a clue as to something else you would like to do?

 

[Too young to work]

I have never heard of a pension that can be drawn at age 38.

They allow you to draw at any age, but put a penalty on the withdrawal. I don't know if that number includes the penalty, but I figure it's too early to worry about that. I'll look into it closer to the time I want to quit. The rules could change b then anyhow.

 

[Too young to work]

Planning for retirement while you are young is great but you are going to have to w*rk for a long time to achieve it. I think you need to find a job that motivates you to come to w*rk. Just liking your job is not doing it for you. Find something that is meaningful to you; or with people you like; or the flexibility you need; or hours that are better for you. Do you have hobbies or interests that can turn into paying w*rk or will give you a clue as to something else you would like to do?

Skiing is a lot of fun, I thought maybe a ski instructor. That seems like more of an early semi retirement job. Around here I could only work 4 months of the year. And the way this weather is going, maybe not at all.

Tennis is cool, nowhere good enough o be a pro.

Gardening is nice, but wouldn't want to do it all day. Just a small side hobby.

Playing video games... Not a job.

I enjoy cooking, but only when I get to eat the finished product. Worked in a kitchen for a little, too stressful.

Managing money is interesting. Not sure where I could take that. Probably the biggest prospect.

Visiting friends and family. Not work. And beyond that I don't really have time for anything else outside of work. Wish I had more time to take on more hobbies! This is why I have to quit working, so I can find more hobbies!

 

[Lazarus]

The odds of you doing a fun job for another decade and retiring are not very high. Fun jobs don't pay much. Most people that succeed at ER have to have a high income and live beneath their means, save and invest for several decades to do it.

You have said that you are barely paying the bills now. You will have to have an income that is higher than your outgo to save and invest. To do it by age 38 will require a large differential.

There is no possibility I could have done it by age 38. And I worked at a pretty high paying job.

 

[uc_brian]

I think you dislike for work does not mean you can semi retire at 38 unless you have a very solid plan. I wouldn't think of semi retiring I just keep working until you accumulate maybe 3 or 4,000,000 dollars. Retirement is balancing your time your health and your resources which means money. I'm not sure how your health is, but it seems to me that you have too much time, you're very vague in your descriptions and you seem like someone who is still trying to find themselves. Please provide some figures and plans so we can better assess your feeling wrt to life and working.

 

[rodi]

I have never heard of a pension that can be drawn at age 38.

I have a coworker who's drawing a pension in his 30's. And a bunch in their 40's and 50's who are also doing this.

But it was a defined contribution pension, not a defined benefit.

This became an option to us because the (frozen) pension went with the other half of the company when our company split. That was recognized as a separation.

Unfortunately, the pension was also underfunded - so your choice was to take an annuity (no age restrictions) or 1/2 the lump sum & 1/2 the annuity.

My young coworker chose to do the pension.

He gets about $20/month. No penalties. Not enough to retire on, to say the least. But he'd rather get money now because he doesn't trust the former company nor PBGC protection.

If he'd waited till it was fully funded and rolled the lump sum equivalent - he'd have to roll it to an IRA or pay penalties.

(Fortunately, it became properly funded this past year - so I'll have to do the math to figure out lump sum or pension when I finally pull the trigger. For now I'm letting it ride. It's so small PBGC should cover it.)

 

[Lazarus]

I think you dislike for work does not mean you can semi retire at 38 unless you have a very solid plan. I wouldn't think of semi retiring I just keep working until you accumulate maybe 3 or 4,000,000 dollars. Retirement is balancing your time your health and your resources which means money. I'm not sure how your health is, but it seems to me that you have too much time, you're very vague in your descriptions and you seem like someone who is still trying to find themselves. Please provide some figures and plans so we can better assess your feeling wrt to life and working.

Three or four million? I would still be working. But I'm not.

 

[ShortInSeattle]

This feeling may be because of my surroundings. Dad is self employed and takes off when he feels like it, mon works part time, sister doesn't work for no good reason, two cousins live at home off their parents and barely work... Maybe in jealous a little bit. I watch all these people around me enjoying all the extra hours home from work, and they seem to be doing alright, why am I working so much?

I get that. Perhaps one of your job search criteria could be a healthy amount of vacation time. Or you could look into self-employment like your Dad. The other thing is that your parents are much further into their careers, and your cousins are moochers. Not really fair comparisons to your situation.

SIS

 

[LeavingOhio]

Three or four million? I would still be working. But I'm not.

Yeah, I don't think 3-4 million dollars is necessary to retire on, even if you're in your 30s. Assuming no debt at all including a paid for house that doesn't have crazy taxes, I would say minimum would be about a million dollars to retire 10 years from now in your 30s. That gives $40,000 if taking 4%. This is not without risk. Could take one big drop in the market to make a person go back to work for a few years.

Though he did say "semi-retire". If he had a million dollars to draw on and he and his wife could bring in $20,000 doing some part time work so that he could take 3% or less from the million dollar pile, that could work. Continuing to work, even part time at a low-paying job just adds to the Social Security amount later on too.

 

[Lazarus]

If I was able to retire in my 30's I would rather take the chance that I might have to go back to work than the chance that I worked more years that I didn't need to.

 

[Sparkie67]

I left work at 43. When I worked fulltime, it was 4 days a week (long hours), with 11 weeks annual leave per annum. That was still too much of my time to be spent doing something I don't enjoy.

So I stopped. I did 4 shifts last year, and that was enough. Life's too short. The great thing about retiring early, is if it all goes wrong, you can get another job. If you wait til 55+ and it goes wrong, you're stuffed.

There are thousands of people doing jobs they love and enjoying life. Be one of them. If the job you love pays half what your current job does, half your expenses. There are ski instructors. Why can't it be you? 4 months in your country, then change hemispheres and 4 months in New Zealand for example. That leaves 4 months off work. Sorted

 

[Too young to work]

If I was able to retire in my 30's I would rather take the chance that I might have to go back to work than the chance that I worked more years that I didn't need to.

Totally agree!

And I didn't really say retire, semi retire. I don't intend to completely quit at 38, but work part time doing something more enjoyable. Who knows, I may love it so much I never quit. For now, I need to work towards FI. The DW would work part time also. We would also intend to move somewhere with a lower cost of living as its fairly high where we are.

 

[Lazarus]

Remember that Social Security is figured on 35 years earnings. If you succeed in retiring early you won't get much help from SS later.

 

[REWahoo]

Remember that Social Security is figured on 35 years earnings. If you succeed in retiring early you won't get much help from SS later.

Depends. Benefits ramp up quickly then taper off in the later years, so not working a full 35 may not have much of an impact.

 

[Too young to work]

Well at this point I've got 11 years in, 10 more would be 21, then say 8 years part time for a total of 29. I know it's not going to be amazing, but that's got to count for something, no? Assuming SS doesn't change drastically. I'm not really going to rely on SS, but if its there that would be nice.

 

[Sarah in SC]

If I was able to retire in my 30's I would rather take the chance that I might have to go back to work than the chance that I worked more years that I didn't need to.

I know a lot of young people. And this is the advice I give out to those like our OP. I am beginning to think I should take my own counsel.
There are worse things than having to find another job after you've had some good time off.

 

[Marc]

I'm sorry. I am looking forward to FIRE as much as the next person; but I cannot tolerate those that don't feel they need to work hard to get their compensation. Twelve on twelve is a tough work schedule; 40 hours a week is not even a quarter of a week. I believe in work hard play hard. I take my two three week vacations a year but give far more than 40 hours a week when I am working.

Years back, a number of us were comiserating about a long source selection. We thought how nice it would be to be a ditch digger wherein we drop our shovel at the end of the day and pick it up in the same location the next day. But we realized then, and I definitely realize now, that our compensation is partly based on these additional hours, worries, and stress of our jobs; ditch digging does not pay well.

I worked in France for a while where the work week is a lot shorter; that is fine for them. But, the productivity was not there. You can't get anywhere without working for it.

I hope to have $4M to $5M when I retire in a few years. I will have worked hard for that money. And, I will enjoy spending it immensely (just as I enjoy those two three week vacations each year as I am working).

marc

 

[KingB]

Planning for retirement while you are young is great but you are going to have to w*rk for a long time to achieve it. I think you need to find a job that motivates you to come to w*rk. Just liking your job is not doing it for you. Find something that is meaningful to you; or with people you like; or the flexibility you need; or hours that are better for you. Do you have hobbies or interests that can turn into paying w*rk or will give you a clue as to something else you would like to do?

Perhaps a shorter commute to/from the office may also help. See OP another thread at: http://www.early-retirement.org/forums/f28/too-cheap-to-buy-a-new-house-64475-2.html.

 

[Mill]

I'm sorry. I am looking forward to FIRE as much as the next person; but I cannot tolerate those that don't feel they need to work hard to get their compensation. Twelve on twelve is a tough work schedule; 40 hours a week is not even a quarter of a week. I believe in work hard play hard. I take my two three week vacations a year but give far more than 40 hours a week when I am working.

Years back, a number of us were comiserating about a long source selection. We thought how nice it would be to be a ditch digger wherein we drop our shovel at the end of the day and pick it up in the same location the next day. But we realized then, and I definitely realize now, that our compensation is partly based on these additional hours, worries, and stress of our jobs; ditch digging does not pay well.

I worked in France for a while where the work week is a lot shorter; that is fine for them. But, the productivity was not there. You can't get anywhere without working for it.

I hope to have $4M to $5M when I retire in a few years. I will have worked hard for that money. And, I will enjoy spending it immensely (just as I enjoy those two three week vacations each year as I am working).

marc

I dont understand your rant, as you seem to have confused needs and wants. The OP isnt saying he doesnt feel the need to work hard, in fact FI is a huge goal of his through WORK. He is just saying that 40 hours a week sucks, and he wants out. And the OP doesnt need 4-5mm to retire. None of us really "need" that much if you think about it.

 

[Sparkie67]

I'm sorry. I am looking forward to FIRE as much as the next person; but I cannot tolerate those that don't feel they need to work hard to get their compensation. Twelve on twelve is a tough work schedule; 40 hours a week is not even a quarter of a week. I believe in work hard play hard. I take my two three week vacations a year but give far more than 40 hours a week when I am working.

Years back, a number of us were comiserating about a long source selection. We thought how nice it would be to be a ditch digger wherein we drop our shovel at the end of the day and pick it up in the same location the next day. But we realized then, and I definitely realize now, that our compensation is partly based on these additional hours, worries, and stress of our jobs; ditch digging does not pay well.

I worked in France for a while where the work week is a lot shorter; that is fine for them. But, the productivity was not there. You can't get anywhere without working for it.

I hope to have $4M to $5M when I retire in a few years. I will have worked hard for that money. And, I will enjoy spending it immensely (just as I enjoy those two three week vacations each year as I am working).

marc

I sincerely hope you live long enough to enjoy it. For others, 'digging ditches' affords a less stressful lifestyle they can enjoy now. A simpler less stressful lifestyle doesn't require $4-5M. Horses for courses.

 

[spirit]

40 hours a week?

I had to smile at your comment about spending too much time at work.
When I was working full time at my teaching job and pursuing my masters degree at the same time, I was working downstairs on my computer and my son who was in first year university was working on his.
He turned to me and said he was thinking of not going to university anymore.
Knowing that university is not cut out for all people, I asked him what he found difficult about university and he said he hated working 40 hours a week.
I laughed at him and said "Son, you are over 18. You can work 40 hour weeks at a job, university or perhaps a tech school. Whatever you choose, you will work 40 hour weeks at least. You are an adult and welcome to the adult world." I was putting in 70-80 hour weeks by then and basically told him the truth as I knew it.
I know the people I work with put in many more hours than 40 IF they want to work more than entry level. I live in Alberta and I think that is the norm here. Not sure about other provinces. I hear Vancouver has a different mindset about work
PS. I have gone part time (.57) at work and my work week hours number around 40. However, I am well paid, have a pension and a benefit package. I accept the tradeoff.

 

[Too young to work]

I'm sorry. I am looking forward to FIRE as much as the next person; but I cannot tolerate those that don't feel they need to work hard to get their compensation. Twelve on twelve is a tough work schedule; 40 hours a week is not even a quarter of a week. I believe in work hard play hard. I take my two three week vacations a year but give far more than 40 hours a week when I am working.

Years back, a number of us were comiserating about a long source selection. We thought how nice it would be to be a ditch digger wherein we drop our shovel at the end of the day and pick it up in the same location the next day. But we realized then, and I definitely realize now, that our compensation is partly based on these additional hours, worries, and stress of our jobs; ditch digging does not pay well.

I worked in France for a while where the work week is a lot shorter; that is fine for them. But, the productivity was not there. You can't get anywhere without working for it.

I hope to have $4M to $5M when I retire in a few years. I will have worked hard for that money. And, I will enjoy spending it immensely (just as I enjoy those two three week vacations each year as I am working).

marc

I would say I work hard, maybe not hours wise with 40 a week. I did put a lot of extra hours in up until last year. It took an incredible amount of work, sacrifice and saving to get where we are today.

I don't know why I would save up such a large amount of money as some suggest when I don't need so much. Why save 4M when you only need 1? What's the point?

I would prefer not to give money to charity, but rather donate time when there is more in the future. Then I know my work is being put to good use. With money, you don't know if its being used effectively or just wasted.

 

[Lazarus]

You probably need more than 1 Million. If you start withdrawing as early as 38 the 4% withdrawal may be high. Better plan for 3 to 3.5%. If you can live off 30 to 35 K then a Million is enough. I would need a bit more. Maybe a million and a half or so to be comfortable at that age. No way I could have had that much at 38 with the path I chose.

As you can see there are people much older than you on the board that think they need more than that. And they do if there spend rate is higher or they need more to be comfortable.

I quit at 55 and have people tell me I am too young to retire. Just think of the reactions you will get if you do it at 38!

 

[LeavingOhio]

I quit at 55 and have people tell me I am too young to retire. Just think of the reactions you will get if you do it at 38!

People really say that to you? That's so rude. I would LOVE to be able to retire at age 55...will probably be 60 before I can. I wonder why some believe you're too young to retire; is it simply because they think you have much left to offer the working world, or do they feel bad that they can't? I have no idea.

I know a guy who retired at age 51 from a high executive position, and he's now in his 70s and he runs marathons all over the world with his wife as a companion. Sounds great to me.

As my plan is to retire at age 60, if at age 55 we suddenly came into a half million dollars through inheritance or something, I would retire right then. Life is too short to be working forever.

 

[Lazarus]

People really say that to you? That's so rude. I would LOVE to be able to retire at age 55...will probably be 60 before I can. I wonder why some believe you're too young to retire; is it simply because they think you have much left to offer the working world, or do they feel bad that they can't? I have no idea.

I know a guy who retired at age 51 from a high executive position, and he's now in his 70s and he runs marathons all over the world with his wife as a companion. Sounds great to me.

As my plan is to retire at age 60, if at age 55 we suddenly came into a half million dollars through inheritance or something, I would retire right then. Life is too short to be working forever.

Yep, I have heard it several times already and got a few looks from people without comments.
Lots of people are working after 55. When someone shows up that has retired what are they to think? They have to admit they can't do it.

I think they believe that those that did it were just lucky. Or they really don't have enough. Couldn't be any other reason could it?

(There is an element of luck involved.) Didn't get laid off or divorced. Health is ok ext.