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Old 12-17-2020, 04:08 PM   #21
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IF your sense of identity is entirely tied to your job, you probably will struggle in retirement. Mine never really was, so that hasn't been a problem for me.

And as far as the purported extreme austerity - that wasn't my experience. Just a decent amount of dedicated saving and modest LBYM, coupled with prudent investing.
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Old 12-17-2020, 04:27 PM   #22
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I ran across this two days ago, it tweaked me enough to send her a message about what I think was wrong with it. The big, but not only problem is she used (or made up) extreme positions and then argued against them. Like saving 75% of you income! The article states "He (as in Pete) told me that to be truly Fire, I should limit the number of children and pets that I have, as both are expensive. (OP here, very possible) But that is not enough. Fire involves extreme austerity, significantly limiting the amount you spend, and saving hard — up to 75 per cent of your income." I can't tell if she really talked to him or if that was poetic license.

https://life.spectator.co.uk/article...rom%20%251%24s
Extreme austerity, Spectator article author (not you, Time2)? I beg to differ. I don't live a particularly extravagant lifestyle, but I have always been able to take vacations when I wanted to, buy a new car when I needed to, and gone on an occasional spending spree when I had to. Furthermore, one unbreakable condition of being able to RE is that I would not have to change my day-to-day lifestyle. I would never accept saying, "I can't do X because it would bust my budget."

As for saving 75% of my income, I never hit that high a percentage. In my earlier years, I was in the 30%-40% range most years, rising to 40%-60% in my peak earning years. But that was simply because my income rose while my expenses were pretty steady (excluding income taxes which of course rose). I never targeted a specific percentage; whatever it was, it was.
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Old 12-17-2020, 04:40 PM   #23
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Yeah I was thinking about suffering while playing Pickleball today in 60 degrees at 11am.
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Old 12-17-2020, 05:28 PM   #24
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Errands, yardwork, housework, reading, the dogs, kids, naps, Netflix ...

I could use more free time.
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Old 12-17-2020, 05:56 PM   #25
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What is going on over at MarketWatch? They’ve had some absolutely horrible articles lately.
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Old 12-17-2020, 06:23 PM   #26
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It's been a long while since I've had much free time. To the best of my recollection, I enjoyed it very much.
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Old 12-17-2020, 07:26 PM   #27
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I feel sorry for people who don't have hobbies. I had so many that I wanted to quit as soon as possible to persue my hobbies.

But I do know people w/o hobbies, so I can relate I guess.
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Old 12-17-2020, 07:36 PM   #28
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While I have not experienced a loss of identity nor found myself to have too much free time, this is a real issue for some people. It can be especially true for people who were forced to retire due to downsizing or health issues, rather than people who voluntarily retired because they were ready to move on and do something else.

I have many friends who are FI but are not ready to retire because they like what they do and they don’t have other things in mind to fill up the free time that retiring would create. Everyone has to make their down decision on whether they are emotionally ready to retire, in addition to being financially ready.
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Old 12-17-2020, 07:53 PM   #29
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Loss of identity and unbearable free time are not things that concerned me. But it concerns enough of my friends and acquaintances that I can understand the tone of the article. The number one question/comment I get from people contemplating retirement, who likely can afford it, is "what do you do with your time?"/"I don't know what I would do with all of that time".

In my view the two are related. Those concerned with their job identity spend a lot of time promoting that identity, and not just on the job They may enjoy what that identity brings and feel it is worth the time tradeoff. Loss of identity means, among other things, a lot of time to fill up that people have not thought about.

Recently I attended the funeral of the parent of a former co-worker. About a half dozen friends from work that I had not seen in a while were there. A couple asked me how I dealt with "being anonymous", as I had a fairly high visibility profile in our organization. All asked me about how I spent my time, and a few were surprised that I had not become a "bearded, overweight, unkempt couch potato", as that is how they perceived folks who had "too much time on their hands". Having the time do to whatever you want is what relatively few can achieve... perhaps that is why it must be made to seem like a "bad" thing.
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Old 12-17-2020, 08:11 PM   #30
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Of course there is one way to occupy time all the books that you would read in another field. As an example I have read lots of books on history in the last 16 years of retirement. And though now confined to a wheel chair and living in assisted living there are still lots of books to read. One nice thing about reading for knowledge is you don't have to worry about the test. Or if you are near a good college often auditing the courses is allowed, giving you the learning without the tests etc and credit requirement.
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Old 12-17-2020, 08:47 PM   #31
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Unbearable amount of free time trump's accepting another steaming pile of crap from your boss.
I've been sitting here reading this thread with a big grin on my face and nodding "yep, yep" to the posts. But, this comment made me laugh out loud as it is exactly what triggered the announcement of my retirement.

We had reached our FIRE number and the DW and I had been casually discussing how much longer I'd w*rk before pulling the plug. A couple of days later, my client calls me into his office and starts telling me about the next big project he wanted me to handle - another big steaming pile one of his people had made which was now going to be my responsibility to clean up.

Before I was even aware of the words forming, I blurted out: "Sorry. You'll have to find someone else, because I'm retiring at the end of the month."
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Old 12-17-2020, 08:51 PM   #32
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Exactly. Market Watch has lost it. I used to go there to see what was going on with the markets for the day. Now when I click on some bait I get popups to pay for marketwatch. No more. Now I just go to cnbc to see what the markets are up to.
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Old 12-17-2020, 09:14 PM   #33
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IF your sense of identity is entirely tied to your job, you probably will struggle in retirement. Mine never really was, so that hasn't been a problem for me....
Second this. We were law and medicine. Our peers couldn't conceive of our giving up our professions at 57/56. They looked into the mirror in the morning and saw "Dr." and "lawyer."

We didn't; rather, we saw deprived adventure travelers. (Our Orthopedic surgeon close friend went into figurative DTs when he couldn't do "elective" surgeries in April and May of this year, which confirmed he isn't ready to retire, despite having the assets.)
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Old 12-17-2020, 09:18 PM   #34
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I've never had an identity, but in 11 days it'll be 32 years since I had to announce my name when answering a telephone.
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heh heh heh - Thanks to this forum reality shifted from 'un-employed' to ER.
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Old 12-17-2020, 09:48 PM   #35
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We didn't; rather, we saw deprived adventure travelers.

Now THAT is a great line. Well done.
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Old 12-17-2020, 10:01 PM   #36
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has anyone suffered an "unbearable amount of freetime?"
No, but even if I did I'd rather be bored at home than bored at work. Thankfully, I have plenty of interests and things to do and no time to be bored.
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Old 12-18-2020, 05:32 AM   #37
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I quit worrying about loss of identity once I left school. I know who I am and I quit worrying about what others think. As for unbearable amounts of free time - I was hoping to live to be at least 400 years so I could try out all the things I wanted to do. My problem is not enough time to explore all the opportunities. I continue to wait for my old body to start cooperating.


Cheers!
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Old 12-18-2020, 08:23 AM   #38
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Love these comments. You guys are awesome. Many things go through my head, but yeah I think some people's identity is so caught up in their title and where they are on the corporate ladder that giving that up is simply too hard. I was just a worker among workers so that part is a non issue for me.


I'm taking a history as well as a philosophy class online, exercise regularly, have a couple volunteer commitments, read a book every 3-4 weeks, sleep like a baby, help my elderly mom out, go in woods often, am much more at ease with my significant other,

etc. NONE of that was possible while working!



Honestly, retiring early has provided me with a life beyond my wildest dreams. Immensely grateful.
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Old 12-18-2020, 08:45 AM   #39
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Try listening to "The Money Guys" on You Tube always putting a damper on the FIRE movement. The big problem with the fire movement...the huge downside to the fire movement...the major cons of the fire movement and the hard truth about the... And they are supposed to be helping people to build wealth. I think they are financial advisors.

They suggested it was not a smart decision to retire early when you're at the peak of your earning potential. I think Mr. Money Mustache should give them a piece of his mind. People seem to like their advice but I find them quite annoying. They make it sound like achieving financial independence is soooo hard and that you would have to scrimp and live on nothing to get there.
Yeah. Of course working till you die is some form of utopia.
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Old 12-18-2020, 09:58 AM   #40
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Market Watch...that's all I needed to know.

Lots of free time for me, especially with the COVID way of life. Unbearable? No way, man!
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