Is "unretirement" the new retirement?

[Midpack]

Quote:

Originally Posted by JustCurious I take issue with people who continue to work and claim to be retired, to me that is redefining what it means to be retired in a way that stretches the definition too far.

Why does anyone care how others define retirement? What difference does it actually make?

And if some people prefer work, or retire and return to work in some form, why does anyone else care, or feel a need to discourage others choices?

Different strokes...

[mountainsoft]

Quote:

Originally Posted by JustCurious A whopping 92% of workers currently in their 40s say they plan to keep working part-time in retirement, according to a survey by TD Ameritrade and The Harris Poll. Even among those in their 70s, 52% say they plan to continue working an average of 10 hours a week.

I am 56, self-employed, and am planning to continue working during the first few years of retirement if I am able. I'm in a very niche market and sales have already been declining in recent years, so there's no guarantee there will be any work left by the time I "retire". But it keeps my mind active and I really enjoy it. We will be fine without my piddly income, but I'd like to keep doing it if I can.

I also get a VERY tiny bit of income from ads on YouTube videos. It doesn't amount to anything, but I don't have to do anything else to earn the income. It won't last forever, but it's fun to have a little extra play money coming in.

[Andre1969]

Quote:

Originally Posted by Midpack Why does anyone care how others define retirement? What difference does it actually make? And if some people prefer work, or retire and return to work in some form, why does anyone else care, or feel a need to discourage others choices? Different strokes...

To paraphrase a line from "Smokey and the Bandit"...

"A retiree and an out of work bum look an awful lot alike, Daddy!"

[ExFlyBoy5]

Quote:

Originally Posted by Midpack Why does anyone care how others define retirement? What difference does it actually make? And if some people prefer work, or retire and return to work in some form, why does anyone else care, or feel a need to discourage others choices? Different strokes...

+1

At one time, I too got annoyed at the overuse/misuse of the word "retirement."

Retirement is defined as, "the action or fact of leaving one's job and ceasing to work" which is pretty clear in its meaning. But, as we know...words and the meanings behind them change and I think that is what is/has happened today.

Now, if someone wants to call themselves retired while still w*rking part time...ah, hem, excuse me...side hustle....then hey....whatever floats your boat.

As my DW likes to say, "If you ain't cooking for me, paying my bills, or fornicating with me, then what does it matter to you?"

[Mdlerth]

Quote:

Originally Posted by Midpack Different strokes...

+1

The more I apply this principle the more it makes my life easier.

[Teacher Terry]

We live on our pensions. But neither of us turn down side work when it comes our way. My husband is a engineer and gets 400 for every proposal that a small company makes with his name on their letterhead. I make 50-100/month for allowing a company to order tests under my credentials and I pay the testing company and charge the other company per test. That’s in addition to teaching and consulting. My worst year I made 5k and my best 22k. Obviously not a ton of money. These are my hobbies.

[JustCurious]

Quote:

Originally Posted by Midpack Why does anyone care how others define retirement? What difference does it actually make? And if some people prefer work, or retire and return to work in some form, why does anyone else care, or feel a need to discourage others choices?

I am not discouraging others' choices but I do think words should have a certain commonly accepted meaning so that when we communicate our choices to others we have a clear understanding of what is being communicated, otherwise communication becomes unclear. That's why we have dictionaries.

Anyone can live their life however they want, different strokes and all that, I agree, but I part company when someone continues to work and claims to be retired. If everyone accepts that any word can mean whatever anyone thinks it means to them, well I guess I'm just a luddite about language. I don't see a contradiction between accepting different strokes while at the same time expecting people to use the commonly accepted defintions of words.

[albireo13]

Who cares.
Too much energy being spent on labelling IMO.

[FIREd_2015]

Quote:

Originally Posted by JustCurious ...I take issue with people who continue to work and claim to be retired, to me that is redefining what it means to be retired in a way that stretches the definition too far.

For a lot of people (myself included) retirement means no longer collecting a steady paycheck and any work is optional. I still do gig work - focus groups, mock juries, healthy patient studies, and a training/travel gig. I also have one rental property that I manage myself.

I know someone who recently "retired" from his corporate job at 55 so he can get access to his 401k without penalty. From the IRS point of view he is retired but they have 3 rental properties that they manage and collect rents from. As far as I know they consider themselves retired and so does the government.

[ExFlyBoy5]

Quote:

Originally Posted by FIREd_2015 For a lot of people (myself included) retirement means no longer collecting a steady paycheck and any work is optional. I still do gig work - focus groups, mock juries, healthy patient studies, and a training/travel gig. I also have one rental property that I manage myself. I know someone who recently "retired" from his corporate job at 55 so he can get access to his 401k without penalty. From the IRS point of view he is retired but they have 3 rental properties that they manage and collect rents from. As far as I know they consider themselves retired and so does the government.

I am afraid I might have to stop calling myself retired, too. Since passing the bar exam I have been doing some volunteer w*rk with legal aid and a couple of other outfits. Well, low and behold I now have people seeking me out for some legal work...which I would do in exchange for $. This was never my intention when I went to law school, but if someone is going to give me a couple hundred bucks for a little legal w*rk, then I don't know that I would want to turn that away.

[Mdlerth]

It turns out that exactly 42 angels can dance on the head of a pin.

And you may call yourself "retired" if, and only if, you (transmission garbled due to solar flare)

[tmm99]

Quote:

Originally Posted by Teacher Terry We live on our pensions. But neither of us turn down side work when it comes our way. My husband is a engineer and gets 400 for every proposal that a small company makes with his name on their letterhead. I make 50-100/month for allowing a company to order tests under my credentials and I pay the testing company and charge the other company per test. That’s in addition to teaching and consulting. My worst year I made 5k and my best 22k. Obviously not a ton of money. These are my hobbies.

I made about 15K last year (actively searching for things to do) and I'll make around 9K this year (I dropped the projects that felt like real wo*rk) and I will most likely make less next year, probably around 4-5K. (I freelance from home, and I now only take assignments from one company, and only when I have free time.) I used to say I was semi-retired, but I could hardly call this w*rk at this point. as I make so little and spend so little time doing it - It's like doing crossword puzzles and I get paid a little. Like yours, mine is a hobby.

[Dalmore]

For me, FIRE is about being able to walk away when w*rk is no longer fun. I don't have to worry about loosing my house or where my next meal is coming from. If I choose to do something productive financially with my time, I don't see how that is any different than the many people here who crunch numbers to maximize their stock returns.

[youbet]

Quote:

Originally Posted by davebarnes See my sig. For me, being “retired” means not having to work. It means we have enough FU money. It means that my young trophy wife who works part-time retail can tell the store owner: I won’t be here for the next month while travel to Italia/France. It means I can tell my customers that their websites won’t get updated for month.

We're all free to define terms to our own liking, and I do it differently than you. I'd call what you describe as "retirement" as being "financially independent."

For example, I was FI for a few years before MegaCorp kicked me out. Until that day, I did not consider myself "retired," although I could have thrown in the towel on the daily grind whenever I wished.

Until MegaCorp booted me, I was employed, not retired, despite being FI. On the day MegaCorp booted me, I became unemployed but FI. Several months later when I decided DW and I had enough money and no longer needed to seek income, I terminated the job search. Then we considered ourselves retired and FI. Retired + FI = FIRE'd.

Of course it's all a gray area and everyone is free to define their circumstances as they wish. You're right for you. I'm right for me.

[Big_Hitter]

Quote:

Originally Posted by tmm99 I made about 15K last year (actively searching for things to do) and I'll make around 9K this year (I dropped the projects that felt like real wo*rk) and I will most likely make less next year, probably around 4-5K. (I freelance from home, and I now only take assignments from one company, and only when I have free time.) I used to say I was semi-retired, but I could hardly call this w*rk at this point. as I make so little and spend so little time doing it - It's like doing crossword puzzles and I get paid a little. Like yours, mine is a hobby.

if you are making a fraction of what you were making full time cause you stopped working and consider yourself retired, then you are retired, IMO

(fwiw I'll probably be doing the same thing.... but on MY terms)

my definition of retired - a time when one is no longer someone else's beotch

[Katsmeow]

DH fully retired in 2010 and never has done a pick of paid work since then. I was more complicated. I semi-retired and worked one or two days a week for a few years. But, it tapered of and by the end I was often going months without doing anything and it was only a few thousand dollars a year and it was done from home. I considered myself retired at that point. I did eventually quit doing any of that at all.

However - I am pondering looking for a job. Why? It really isn't the money. I mean, honestly, I would rather be paid than doing the same thing as a volunteer. But getting a job is not necessarily from a financial standpoint.

Why get a job? Well, I worked in one career my entire working life (I was an attorney). But, along the way I earned an MSW degree and am an LMSW. I never worked in that field (I had intended to when I started the degree but circumstances changed and I decided to remain an attorney). But, now it is different. I have zero desire to ever do any kind of legal work again. But, I am wondering if I could use that degree that I earned and never used. Now, I might find it very hard to get a job as someone who has maintained a license but earned the degree over 20 years ago and never used it. But, I have toyed with the idea of trying.

I really don't care what it would pay and I don't care about benefits, etc (went on Medicare this year) but I would do it simply to see if I would enjoy it. And, of course, if I didn't or it was too onerous I would have no hesitancy in quitting.

[Midpack]

A lot of people want to worry about what others say and do, in this case total strangers stemming from a Motley Fool article written by a "kid." Undoubtedly her unique take on retirement was meant to elicit a response first and foremost - not to share useful information. Looks like her tactic worked, as with many on the internet these days.

Life's too short. I could care less what you call your station in life, doesn't change my status at all.

[Big_Hitter]

Quote:

Originally Posted by Midpack A lot of people want to worry about what others say and do, in this case total strangers stemming from a Motley Fool article written by a "kid." Undoubtedly her unique take on retirement was meant to elicit a response first and foremost - not to share useful information. Looks like her tactic worked, as with many on the internet these days. Life's too short. I could care less what you call your station in life, doesn't change my status at all.

My reading of the article is that the US retirement system has generally failed us. The vast majority stay employed because they simply have no other recourse.

[JustCurious]

Quote:

Originally Posted by Midpack A lot of people want to worry about what others say and do,

I do not want to worry about what others say and do, nor do I.

[Perryinva]

I never have been bored in my life, but I sure don’t look for things to keep busy. There are always more things I want to do than there are hours in a day. The last 6 months (when I officially stopped being employed) have flown by. I haven’t done 1/10th of what I thought I would be doing with all my free time! One of my hobbies is a side hustle that I thoroughly enjoy., and I haven’t even been able to do that to the extent that I planned. IF I ever have more time than plans, then I may decide that unretirement makes sense. I’m sure I’m a few years out from that.