Is "unretirement" the new retirement?

[JustCurious]

This is an excerpt from an article by the Motley Fool...

"Unretirement" is the new retirement
Traditionally, workers have spent most of their adult lives employed, and either building up pensions or, in more recent decades, stashing money away in retirement accounts. Then at some point in their 60s, they leave their jobs and spend the rest of their years retired.

Today's workers, though, have a different idea of what their retirements will look like. 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.

Additionally, many workers say they don't plan to ever fully retire. Among those in their 40s, 61% of respondents said they'd prefer to take year-long "mini-retirement breaks" while they're younger, and then work until a later age, rather than work continuously for four decades or more and then retire completely.

https://www.fool.com/retirement/2019/11/23/this-new-retirement-trend-could-mean-you-dont-need.aspx

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.

 

[Bigdawg]

My whole FIRE deal was to focus on the FI portion. I have been FI for 9 years. You cannot RE w/out being FI. Once you are FI you can do whatever you want. I never wanted to get down into the minutia regarding finances so I still work (32 hrs/wk) because it is interesting and I want to pad the accounts. I want to go with the fat FIRE and not have to look at the numbers and worry. I'm getting there. I will always umpire baseball and officiate volleyball. They pay me so I guess technically it's a job. Some of my friends play baseball and volleyball or coach and do not get paid. We are all there together having a good time. Sorry for collecting a check.

Is a guy like senator retired? He collects rents from some RE. IDK. To each his own. I don't get too caught up in what the other guy is doing. Good luck all.

 

[Teacher Terry]

I do a little consulting and sometimes teach a online college class. I consider myself mostly retired.

 

[unclemick]

In 26 years of ER I have taken the solemn pledge many times to 'never volunteer' let alone get recruited.

However truth told . At points in time one must buck up unvolunteer and relearn no and get back to watching grass grow.

heh heh heh - Reality sometimes intrudes on the ideal vision. Hobby farm getting paid CRP - 2 to watch grass grow. Spending $ and effort 'to do nothing' is interesting - very interesting. But it's a fun hobby. Right?

 

[Freedom56]

There's this one also:

https://www.amtd.com/news-and-stori...o-Continue-Working-in-Retirement/default.aspx

If you continue to work, then your are not retired. The reality is that a large number of people have not saved enough to retire so they have to keep working as long as they can. This is great news for those who have saved enough to retire as inflation will remain low. The only area of concern is healthcare costs. You can control some of that by staying fit and avoiding hazardous activities.

 

[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.

 

[camfused]

For me, FIRE was about FI and TI (time independence), in other words the freedom to do what I want when I want. I think that is what I have enjoyed the most so far in my retirement. I volunteer, but because I want to, and when I want to (not having to squeeze it in, like when you were working). I have no desire to work, in my mind, you are not really FI if you need to work part-time after you “retire”.

 

[Walt34]

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.

Absolutely! And the Internet Retirement Police are actively investigating the unfounded claims of these miscreants. They will soon find out what "retirement" really means! Bwhhaaaaa

 

[Dtail]

Well retirement for me means never to work again, at least for now 2.3 years in.

 

[marko]

IMO with the exception of RE'd folks who volunteer or have a very part-time hobby-job, you're either retired or you're not.

FIRE is the newest trendy thing to be but if you need to do something to make ends meet...even a little bit, you're not FI, you're not RE; all you are is kidding yourself. A dangerous thing to be when it involves money and your future.

Sorry kids; making money blogging is great but you're not retired, you're working. On your blog.

 

[IMATERP]

I retired from Full Time W*rk two years ago - 2 days before my 57th Birthday. After about three months, I felt the need to pick up 10-12 hours a week of part time w*rk. I handle the accounting for a small local florist (2 days a week.). The money received is minimal and I receive no benefits whatsoever - I just enjoy going to a shop 2 days a week (to occupy some time.). My friends sort of smirk when I tell them this but I’m just a spreadsheet junkie that likes to play with numbers. Does this activity count as my being non-retired ? Nope and I don’t really care what someone else “thinks.” I’m retired, and perfectly content with a side hustle that complements the rest of my daily life.

 

[Teacher Terry]

I don’t have a lot of hobbies so a little work is fun. But I have no set hours and do it when I want. We are fine without the money.

 

[Spanky]

The term "Working in or after retirement" is in vogue. It implies that being retired doesn't mean that you have to stop working. I guess the meaning of retirement is that you are no longer working for a long held job or career to earn a paycheck to support your entire living expenses.

 

[marko]

I guess the meaning of retirement is that you are no longer working for a long held job or career to earn a paycheck to support your entire living expenses.

To me, that's the criteria. Are you working for fun and to stay busy or are you working because you still need a bit to make ends meet? If you need to make ends meet you're not retired nor are you FI, IMHO. Otherwise, you're just trading one job for another.

 

[Maenad]

I get annoyed by the term "mini-retirements". There's already a word for that - a sabbatical.

I think a lot of this is just the human desire to label things, when people have more options to work in different ways than ever before. Eh, just do your thing and enjoy yourself!

 

[DrRoy]

For me, being “retired” means not having to work.

For me, it means not having to go to work, ever.

 

[Badger]

This article seems to pair well with the hundreds of articles about the lack of retirement savings etc. and the millions of people nearing traditional retirement age who have not prepared for it. Most, although not all, seem to rationalize their situation with wanting to continue working. Really? All the hundreds of articles about people hating their jobs and they want to continue? How many here have said they couldn't wait to get away from their particular "rat race" and told about so many of their co-workers that would like to do the same?
The survey may be accurate but I think many of those responding are not being truthful.


Cheers!

 

[JustCurious]

Most, although not all, seem to rationalize their situation with wanting to continue working.

Exactly. Some people do not want to admit that they cannot afford to retire, so instead they claim to be retired while still working. Nifty trick isn't it?

There seems to be no consensus on what it really means to be retired, even some people on this board think that you can continue to work and be retired.

 

[jfn111]

I said goodbye to corporate america when I was 55. I happily collect my pension and enjoy retiree healthcare benefits. I then went out and got my real estate license and have thoroughly enjoyed it.
I consider myself semi-retired. I pick and choose who I work with and take February off to head to Florida.
I don't need the money but I don't mind padding the portfolio either. unicuique sua

 

[Big_Hitter]

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.

+1

 

[Midpack]

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]

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]

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]

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]

Speaking words of wisdom, "Let it be"

Different strokes...

+1

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