Okay.... Does anybody not like early retirement/pitfalls?

[Toddtheformeraccountant]

Quote:

Originally Posted by ER Eddie This question almost always gets a particular kind of answer here -- framed in terms of some kind of personal limitation or shortcoming. The person has no identity or sense of self-worth outside of their job, or they are workaholics... There is truth to that -- plenty of people do struggle in retirement because their jobs define them, etc. -- but there's another side of the story, one that you don't typically hear on this forum (it's part of what I meant when I talked about the skewed sample). Few people here seem to appreciate (or at least articulate) that many people choose not to retire for good reasons -- not just because they lack imagination, can't think of anything to do but watch TV, are workaholics, etc. So, in the interests of providing a little balance, here are some "good" reasons why someone might not want to retire completely, even if they are FI: They enjoy their work They find a sense of meaning and contribution in their work Their work is a source of learning and growth They like their colleagues and the social stimulation of work They benefit from the intellectual stimulation provided by their work They enjoy exercising a sense of competence, feeling effective at something they've trained all their life to do, and do well Their jobs give them a feeling of being useful and productive They like the extra money, which is beyond FI so can be considered "free money," to just blow on whatever they like, without concern for financial security They don't want concerns about rising health insurance costs They like the variety that comes with alternating work and non-work days, so that "days off" retain their sense of specialness (vs. every day is a day off) Their work is low stress and provides plenty of freedom p.s. I should add, what I'm thinking of here is part-time work, what some would call semi-retirement. I'm not thinking of full-time work, in perpetuity. Let's not get carried away.

I honestly don't have any of those from my work!! WHY HAVEN'T I PULLED THE TRIGGER YET!!!

[Elbata]

I know it's not the same, but reminded me of those who win the lottery and say they're going to keep their job. Yeah, right.

[DrRoy]

I'm 4 months in and haven't had a dull day yet. DW and I travel a good bit and do photography. I have been finding things to do through an online structure called Meetup where you can join groups of people with similar interests for activities.

[garyt]

Quote:

Originally Posted by GalaxyBoy I'm loving it. Enough to "do" hasn't been a problem for me. It seems to find me without my trying very hard. OTOH, I'm not sure those who don't find that FIRE is right for them would hang out here much. I'm sure if you looked hard enough you'd find threads on the subject. I recall one or two but I can't say what to search on.

Good point. If people tried it and didn't like it I doubt they'd still be on this forum. Everybody here is likely to love it.

[jabbahop]

Quote:

Originally Posted by ER Eddie This question almost always gets a particular kind of answer here -- framed in terms of some kind of personal limitation or shortcoming. The person has no identity or sense of self-worth outside of their job, or they are workaholics... There is truth to that -- plenty of people do struggle in retirement because their jobs define them, etc. -- but there's another side of the story, one that you don't typically hear on this forum (it's part of what I meant when I talked about the skewed sample). Few people here seem to appreciate (or at least articulate) that many people choose not to retire for good reasons -- not just because they lack imagination, can't think of anything to do but watch TV, are workaholics, etc. So, in the interests of providing a little balance, here are some "good" reasons why someone might not want to retire completely, even if they are FI: They enjoy their work They find a sense of meaning and contribution in their work Their work is a source of learning and growth They like their colleagues and the social stimulation of work They benefit from the intellectual stimulation provided by their work They enjoy exercising a sense of competence, feeling effective at something they've trained all their life to do, and do well Their jobs give them a feeling of being useful and productive They like the extra money, which is beyond FI so can be considered "free money," to just blow on whatever they like, without concern for financial security They don't want concerns about rising health insurance costs They like the variety that comes with alternating work and non-work days, so that "days off" retain their sense of specialness (vs. every day is a day off) Their work is low stress and provides plenty of freedom p.s. I should add, what I'm thinking of here is part-time work, what some would call semi-retirement. I'm not thinking of full-time work, in perpetuity. Let's not get carried away.

These are great - thank you.

[ER Eddie]

Quote:

Originally Posted by Toddtheaccountant I honestly don't have any of those from my work!! WHY HAVEN'T I PULLED THE TRIGGER YET!!!

I don't know!

Good question. Here are some possibilities (I'm covering the other side of the tracks now):

• Financial worries -- you know intellectually you've got enough, but there's always the "What if's?" What if the stock market tanks? What if health insurance skyrockets? Etc. The brain is remarkably good at thinking of things that might go wrong.
• Don't know what you'd do with all that time.
• Anxiety about having no more money coming in (no more paycheck)
• Protestant work ethic: you're supposed to work, work is a sign of virtue and how you demonstrate your worth; so, if you aren't working, you're shirking your responsibility and you're sort of useless
• Guilt about not earning more to leave to your family
• No particular interests or hobbies outside of work
• Feeling that you're selfish; that your role is to serve others
• Sense that retirement means you are old and used up
• Identity wrapped up in work ("Who am I, if I'm not a ____?")
• No friends or social contacts outside of work
• Hard time walking away from the paycheck during peak earning years; that seems like a dumb financial decision
• Anxiety about having to structure every day all by yourself
• Worries that you might end up spending all your time watching TV and eating Cheetos.
• Worry that once you pull the plug, you can't take it back. The finality of it.

Or maybe it's something else. It would be good to try to identify what's holding you back. It's par for the course, to have concerns about it. Full retirement is a big decision. No need to rush into it. Lots of people here can talk to you about any of these issues.

[Focus]

Quote:

Originally Posted by ER Eddie I don't know! Good question. Here are some possibilities (I'm covering the other side of the tracks now): Financial worries -- you know intellectually you've got enough, but there's always the "What if's?" What if the stock market tanks? What if health insurance skyrockets? Etc. The brain is remarkably good at thinking of things that might go wrong. Don't know what you'd do with all that time. Anxiety about having no more money coming in (no more paycheck) Protestant work ethic: you're supposed to work, work is a sign of virtue and how you demonstrate your worth; so, if you aren't working, you're shirking your responsibility and you're sort of useless Guilt about not earning more to leave to your family No particular interests or hobbies outside of work Feeling that you're selfish; that your role is to serve others Sense that retirement means you are old and used up Identity wrapped up in work ("Who am I, if I'm not a ____?") No friends or social contacts outside of work Hard time walking away from the paycheck during peak earning years; that seems like a dumb financial decision Anxiety about having to structure every day all by yourself Worries that you might end up spending all your time watching TV and eating Cheetos. Worry that once you pull the plug, you can't take it back. The finality of it. Or maybe it's something else. It would be good to try to identify what's holding you back. It's par for the course, to have concerns about it. Full retirement is a big decision. No need to rush into it. Lots of people here can talk to you about any of these issues.

You're way too good a devil's advocate!

[SecondCor521]

Quote:

Originally Posted by ER Eddie I don't know! Good question. Here are some possibilities (I'm covering the other side of the tracks now): Identity wrapped up in work ("Who am I, if I'm not a ____?")

Not sure, but I think the OP is an accountant.

I'll add to the list worrying about setting a bad example of some sort for one's kids. Didn't bother me personally, but I've seen it mentioned several times.

[Danmar]

Quote:

Originally Posted by jabbahop I am wondering what traits would someone who is financially independent need to have for you to recommend they NOT retire? Based on my friends/relatives three thing would cause me to advise against. - If their self-worth is defined by their job - if all of their friends are work related - if they never take vacations or when they do they are always working What are things that would cause you to recommend against?

I understand what you are getting at, but many people with these characteristics realize they need to change and want to. ER can work for these people, albeit often after a period of adjustment.

I certainly displayed characteristic#1 but still wanted to ER. Took about 3 years to adjust my thinking and effectively reinvent "who I thought I was'. Very happy I did.

[Ready]

Great posts ER Eddie. I went ahead and copied both of your lists because I find that many of your thoughts from both posts apply to me. I'll agree to all of the following for my personal situation:

They enjoy their work
They find a sense of meaning and contribution in their work
Their work is a source of learning and growth
They like their colleagues and the social stimulation of work
They benefit from the intellectual stimulation provided by their work
They enjoy exercising a sense of competence, feeling effective at something they've trained all their life to do, and do well
Their jobs give them a feeling of being useful and productive
They like the extra money, which is beyond FI so can be considered "free money," to just blow on whatever they like, without concern for financial security
They don't want concerns about rising health insurance costs
They like the variety that comes with alternating work and non-work days, so that "days off" retain their sense of specialness (vs. every day is a day off)
Their work is low stress and provides plenty of freedom


Financial worries -- you know intellectually you've got enough, but there's always the "What if's?" What if the stock market tanks? What if health insurance skyrockets? Etc. The brain is remarkably good at thinking of things that might go wrong.
Don't know what you'd do with all that time.
Anxiety about having no more money coming in (no more paycheck)
Protestant work ethic: you're supposed to work, work is a sign of virtue and how you demonstrate your worth; so, if you aren't working, you're shirking your responsibility and you're sort of useless
Guilt about not earning more to leave to your family
No particular interests or hobbies outside of work
Feeling that you're selfish; that your role is to serve others
Sense that retirement means you are old and used up
Identity wrapped up in work ("Who am I, if I'm not a ____?")
No friends or social contacts outside of work
Hard time walking away from the paycheck during peak earning years; that seems like a dumb financial decision
Anxiety about having to structure every day all by yourself
Worries that you might end up spending all your time watching TV and eating Cheetos.
Worry that once you pull the plug, you can't take it back. The finality of it.


So with the exception of the few items I crossed out, I can relate to all of the remaining items from both lists. I guess that's why I've continued to keep one foot in the working world and one foot in retirement by only working part time.

[ktmissouri]

I have been retired for 3.5 years. I retired at 54. The thing about my retirement that has surprised me the most is how different it is from what I expected. Not bad, just different. There is no real way to determine if you are going to like it other than doing it. Reading your original post and follow up comments, you would have no problem going back to work, so why not just do it and see how it goes?

[Teacher Terry]

I retired at 58 5 years ago. My DH was 53 and planned to keep working but after a few months was laid-off and never able to find f.t. work as an engineer where we live. He has taken consulting gigs when he can find them. He would prefer to work. I got bored after about 7 months and started to do some consulting in my field. Then I was offered an opportunity to teach an online college class which is something I always wanted to do. I have been doing that every semester for 4 years. I can travel anywhere that I have the internet. At first people asked me why I retired so young. Now they are asking me when I will fully retire. They will have to pull the class out of my cold, dead hands)

[RobbieB]

I imaging those who hated retirement went back to work and don't post much in retirement forums.

[tmm99]

Quote:

Originally Posted by RobbieB I imaging those who hated retirement went back to work and don't post much in retirement forums.

I'd say "ding, ding, ding!" to that.


Sent from my iPhone using Early Retirement Forum

[daylatedollarshort]

I have some work I can do from home I may ramp up again to do some brain work. I looked into bridge and I decided if I have to think that hard and take classes I might as well do something I can get paid for.

We usually have something planned most days to get out of the house and have a bit of fun. This week I have three ticket type events - Third Eye Blind concert, a visit to a pinball museum and arcade where all the games are on free play and a special event night at a space and science museum. Then we fill in the other days with more local and no advance planning required kind of activities like movies, going out to eat, hikes, club lectures, drop in senior club activities, going to see local bands at bars, etc. I didn't have a high stress job like DH prior to ER but still going to the park or beach is still usually more fun than working was for me.

[Scuba]

Quote:

Originally Posted by ER Eddie I don't know! Good question. Here are some possibilities (I'm covering the other side of the tracks now): Financial worries -- you know intellectually you've got enough, but there's always the "What if's?" What if the stock market tanks? What if health insurance skyrockets? Etc. The brain is remarkably good at thinking of things that might go wrong. Don't know what you'd do with all that time. Anxiety about having no more money coming in (no more paycheck) Protestant work ethic: you're supposed to work, work is a sign of virtue and how you demonstrate your worth; so, if you aren't working, you're shirking your responsibility and you're sort of useless Guilt about not earning more to leave to your family No particular interests or hobbies outside of work Feeling that you're selfish; that your role is to serve others Sense that retirement means you are old and used up Identity wrapped up in work ("Who am I, if I'm not a ____?") No friends or social contacts outside of work Hard time walking away from the paycheck during peak earning years; that seems like a dumb financial decision Anxiety about having to structure every day all by yourself Worries that you might end up spending all your time watching TV and eating Cheetos. Worry that once you pull the plug, you can't take it back. The finality of it. Or maybe it's something else. It would be good to try to identify what's holding you back. It's par for the course, to have concerns about it. Full retirement is a big decision. No need to rush into it. Lots of people here can talk to you about any of these issues.

Excellent and very helpful list. Like Danmar, I had some of these concerns, but ultimately decided the benefits were worth the risk. Most big life decisions have risk involved. Very glad I took the plunge!

[Toddtheformeraccountant]

Quote:

Originally Posted by ER Eddie I don't know! Good question. Here are some possibilities (I'm covering the other side of the tracks now): Financial worries -- you know intellectually you've got enough, but there's always the "What if's?" What if the stock market tanks? What if health insurance skyrockets? Etc. The brain is remarkably good at thinking of things that might go wrong. Don't know what you'd do with all that time. Anxiety about having no more money coming in (no more paycheck) Protestant work ethic: you're supposed to work, work is a sign of virtue and how you demonstrate your worth; so, if you aren't working, you're shirking your responsibility and you're sort of useless Guilt about not earning more to leave to your family No particular interests or hobbies outside of work Feeling that you're selfish; that your role is to serve others Sense that retirement means you are old and used up Identity wrapped up in work ("Who am I, if I'm not a ____?") No friends or social contacts outside of work Hard time walking away from the paycheck during peak earning years; that seems like a dumb financial decision Anxiety about having to structure every day all by yourself Worries that you might end up spending all your time watching TV and eating Cheetos. Worry that once you pull the plug, you can't take it back. The finality of it. Or maybe it's something else. It would be good to try to identify what's holding you back. It's par for the course, to have concerns about it. Full retirement is a big decision. No need to rush into it. Lots of people here can talk to you about any of these issues.

Eddie, great suggestions! Thank you and I will go through those...

[Shanky]

A little over a year in. ( Also did a Sabbatical when i was 49 /50.) The freedom has been the best thing about this. My career had been very demanding, especially time wise. DW & I are both avid golfers & boaters and we do both quite a bit. i now have time to do my own maintenance and fixes around the house. i am ok with not having every hour planned. Even though I did not think so, I did have a sense of "accomplishment" around my work life. I have worked on "humbling" myself and getting that feeling from completing a chore or fixing something. The only negative surprise is I had spent my whole life relatively pain free and injury free. Now something is always hurting. No one ever told me the reason I never had sore joints or muscles is because hardly ever used them. (I was working too much)

[Scuba]

Quote:

Originally Posted by Shanky A little over a year in. ( Also did a Sabbatical when i was 49 /50.) The freedom has been the best thing about this. My career had been very demanding, especially time wise. DW & I are both avid golfers & boaters and we do both quite a bit. i now have time to do my own maintenance and fixes around the house. i am ok with not having every hour planned. Even though I did not think so, I did have a sense of "accomplishment" around my work life. I have worked on "humbling" myself and getting that feeling from completing a chore or fixing something. The only negative surprise is I had spent my whole life relatively pain free and injury free. Now something is always hurting. No one ever told me the reason I never had sore joints or muscles is because hardly ever used them. (I was working too much)

I can relate! I've been working out and doing several sports much more often than I did when w*rking, and almost every night I have lower back pain, muscle pain or both.

[Koolau]

Quote:

Originally Posted by RobbieB I imaging those who hated retirement went back to work and don't post much in retirement forums.

Yeah, we've sort of "self selected" here. We've had a couple of folks talk about their "failure" at ER, but not so sure anyone has said they couldn't handle all the time off without something to do (that wasn't w*rk.) I've mentioned before the DW does tend to get a bit bored from time to time, but not enough she would consider going back to w*rk. She just looks around to find some project to do or craft class to attend, etc. As always, YMMV.