What's so good about retirement?

[Redbugdave]

Hi Worker Bee,

The bottom line to life is being happy! Everyone is different and maybe retirement is not the thing for you. Or possibly you may be happier in a different job. You need to do some soul searching and ask yourself a few basic questions.

A few questions like...do you dread going into work? Some days more than others, but in general just tired of going in? Or do you just flat hate going in? Do you have much in common with the people you work with and get along pretty good with them and have the same interests? Do you feel like you are wasting your time at work? Can you support yourself, if retired? Have you run the numbers? Are you a self starter...that is, can you keep yourself occupied and have hobbies/interests you like to pursue? Do your real life interests overwhelm your budgeted time off so as to make you feel short changed because of going to work? Do have a desire to travel or have interests in other places, or people? Do you derive your ego, (or who you feel you are), from your work/position or are you comfortable with being who you really are? Do you feel a drive to accomplish/do things in your life that are not connected with work and work is getting in the way?

If you look at it in a logical light and the pros outnumber the no's, then go with the pro's. Only you know the answers.

For me, that drive is driving me crazy. I have less than 4 years and think about it every day. Life is short and ticking away. Not many people in this world ever get a second chance at living life on their terms. But I feel I do! I suspect retirement is unheard of in many countries because of the political nature of the country and the class/caste system. We are a lucky and smart lot to be able to choose and do something about it!

 

[BunsGettingFirm]

I took an ER trial back in 2006. I can't say that I was 100% satisfied with the experience because I knew that there were other things I wanted to do in my career. Fast forward 4 years, and after pretty much wasting my time in another computer job that's going nowhere, I can see I will pull the plug with no doubt or regrets the next time. My recent 2 weeks off during Christmas was the closest thing I can compare to ER, and it was wonderful. I did not feel bored at all. In fact, I finally got around to writing some trading programs I have been wanting to write for a long time because I had big blocks of time to sit and think. I went to the gym regularly, and, most important, I forgot all of the BS back at the office and because of that, got so much better sleep.

 

[ScottFromUtah]

I finally got around to writing some trading programs I have been wanting to write for a long time ... I went to the gym regularly ... got so much better sleep.

Yep, these are the joys of retirement: completing projects that YOU want to do, getting more exercise (and taking better care of yourself in general), and getting better sleep.

 

[rescueme]

I've never fantasized about being a teacher.

I have (about a teacher) - Sister Sarah in 7th grade ...

Oh, how times change. I understand that you now can date a Nun; you just can't get into the "habit" ...

 

[HsiaoChu]

This is where those of use who had seasonal employment are pretty well prepared for extended periods of being "paid" with no requirements for doing anything. I used to get in my camper in the summer time with the two kids and wife and dog and head out until we ran out of money and then come back. I remember a number of times when we had been gone for about a month when we suddenly decided we'd had enough and headed back. My dad used to do the same thing when he was traveling when retired, except he would make these marathon drives to back home, like driving 15 to 18 hours straight without any break. My mother would have to threaten to pee on the floor to get him to stop.

 

[haha]

I have (about a teacher) - Sister Sarah in 7th grade ...

Oh, how times change. I understand that you now can date a Nun; you just can't get into the "habit" ...

When I was a boy fantasizing about a nun was recommended as the "Please God slow me down" remedy when you were about to be thrown off your ride prematurely.

Ha

 

[WB52]

Hi Worker Bee,

The bottom line to life is being happy! Everyone is different and maybe retirement is not the thing for you. Or possibly you may be happier in a different job. You need to do some soul searching and ask yourself a few basic questions.

A few questions like...do you dread going into work? Some days more than others, but in general just tired of going in? Or do you just flat hate going in? Do you have much in common with the people you work with and get along pretty good with them and have the same interests? Do you feel like you are wasting your time at work? Can you support yourself, if retired? Have you run the numbers? Are you a self starter...that is, can you keep yourself occupied and have hobbies/interests you like to pursue? Do your real life interests overwhelm your budgeted time off so as to make you feel short changed because of going to work? Do have a desire to travel or have interests in other places, or people? Do you derive your ego, (or who you feel you are), from your work/position or are you comfortable with being who you really are? Do you feel a drive to accomplish/do things in your life that are not connected with work and work is getting in the way?

If you look at it in a logical light and the pros outnumber the no's, then go with the pro's. Only you know the answers.

For me, that drive is driving me crazy. I have less than 4 years and think about it every day. Life is short and ticking away. Not many people in this world ever get a second chance at living life on their terms. But I feel I do! I suspect retirement is unheard of in many countries because of the political nature of the country and the class/caste system. We are a lucky and smart lot to be able to choose and do something about it!

Redbugdave,
Thanks for the post. Sorry my reply is late. I was at a business convention and just did not want to open the computer after hours...

In response to your questions... I have run the numbers and feel comfortable that I can FIRE in less than 4 years (like you). Financially, there is always the temptation to work "one more year" to increase the available retirement funds or lower the SWR %. I've done a ton of soul searching about what my retirement savings "number" is. I have a decent handle on that. But a BIG item I need to move ahead with is to discuss and agree on a joint plan for FIRE with my DW. In fact, we agreed to discuss "the plan" this weekend. We may have an odd way of approaching money. We have been married since we were 19 years old and money has almost never been a real point of tension between us (even when we had money problems, we did not fight about it). But we do 'nt talk about it either. I think she feels that if we don't set firm goals, then she won't be disappointed. I, on the other hand, want goals. So I make "our" goals up and keep them to myself. However, Retirement is too BIG a topic to keep to myself. (If I retired without discussing it with her, I'm sure she would notice me hanging around the house all day! ) I really expect this discussion to go well, though. DW loves me and wants me to escape MegaCorp as soon as possible. (Who could ask for more than that?)

I have a long drive to w*rk as well, and I think about FIRE everyday. In fact, I run the numbers almost every day. I also work on interests outside the office, and try to lay plans for activities after FIRE.

The reason I started the thread is that I am totally losing interest in w*rk, but I am not yet ready to FIRE. I find this forum to be encouraging and wanted to see a list of the reasons people love early retirement. I'm convinced there are many reasons and that I will love retirement too. But it helps me to read about the experiences of those on this forum that have FIRE experience. It keeps my batteries charged and encourages me to keep going! I do feel blessed to be nearing the point where I can choose not to w*rk. At this point, if the j*b at Megacorp becomes too toxic, I know I can retire right away. That fact is a big pressure relief valve for me and gives me a better perspective on my j*b. (Now the j*b feels like sandpaper wearing me down as a slow rate, instead of a chizel chipping away at a faster rate).

Anyway, I see happy days over the horizon!

Regards, Worker Bee.

 

[ScottFromUtah]

Worker Bee,

I ran the numbers, ran the numbers, and ran the numbers. Finally, after a dozen times or so of running the numbers, I convinced myself that FIRE was possible. Now I've been retired for going on 2 years, I have been pleasantly surprised at how inexpensively we can live. We haven't even had to go into our 401(k)s yet, but are able to live just on social security, pensions, and book royalties.

Scott

 

[WB52]

Scott,
Congrats that the FIRe is working so well. I'm glad to hear that the real-world experience is that expenses post-retirement can be held low.
I continue to run and re-run the numbers. I have estimated savings from not-commuting to work and lower taxes, plus no contributions to 401k. I have not included savings from cooking at home and from 3 kids that will be moving out of the home. I know that the savings will be significant, but it is an additional savings buffer.

Enjoy!

 

[playaman]

I was in Costa Rica the past two weeks, so am just now seeing this thread... the point being that I would never have had time to go out-of-the-country just for fun for two weeks before I retired! I was somewhat apprehensive about retiring a year and a half ago but today can't envision going back to work, assuming I could even find a job in this environment. My advice to anyone who asks me re whether or not to retire: do it if you have the resources. There are so many interesting, nonstressful things to do (and if you really get bored, a nap is often in order).

 

[REWahoo]

I was in Costa Rica the past two weeks, so am just now seeing this thread... the point being that I would never have had time to go out-of-the-country just for fun for two weeks before I retired! I was somewhat apprehensive about retiring a year and a half ago but today can't envision going back to work, assuming I could even find a job in this environment. My advice to anyone who asks me re whether or not to retire: do it if you have the resources. There are so many interesting, nonstressful things to do (and if you really get bored, a nap is often in order).

This statement is from a guy who retired and moved to Texas. If, after making that tragic mistake he can still have an attitude like the one he displays above, you know retirement must truly be good.

 

[ejman]

Back in 1990 I took a year's sabbatical after spending a number of years working overseas. The purpose of the sabbatical was to try and find out what I wanted to do for the balance of my working career ( I was 40 then). What I found during my sabbatical is that what I really really enjoyed was being on a sabbatical... The balance of my working career and thinking was then redirected to ER which I partially accomplished in 1999 by switching to part time E-work and then full time ER in 2002.

I think that an extended break from work (doesn't have to be as long as the year I took off) may be really useful to get a "feel" of what ER might be like for those who are not sure this is the right step.

 

[Redbugdave]

Hi WorkerBee...This set of forums has also helped me a lot. I don't post much, but do a lot of reading, (and laughing sometimes), at the posts. I used to think I was some kind of outlaw because of the way I felt...until I stumbled into ER forums. It looks as if I have found a hornet's nest of outlaws! That has solidified my views and outlook. Glad to meet you and don't feel too maxed out, I think that is normal for such an important change. Work is a roller coaster...always switching from real life to work life and not having enough time. It should not be like that.

 

[flyfishnevada]

I am enjoying this thread. As much as I have been thinking about ER, these posts contain a lot of little things I hadn't considered. I do know I have a laundry list of things I want to do and experience. Some might be considered work to some, but they are things I love. Retirement, however you define it, is such a great gift to give yourself and in turn your family and friends. I know a lot of people consider retirement to be your non productive years, but I think many of us actually are more productive. Consider we are able to spend our money, without taking up a job. We spend our retirement years giving back to the economy without taking. Heck, we spawned an industry. We create things that would have never existed if we were working. Blogs, books, art, crafts, websites, you name it. We volunteer and teach. It is pretty exciting because many of us love every minute of what others call work.

OK, I am done waxing poetic.

Note: I am not retired yet, but we includes those of us who are planning to ER.

 

[ScottFromUtah]

Retirement, however you define it, is such a great gift to give yourself and in turn your family and friends. I know a lot of people consider retirement to be your non productive years, but I think many of us actually are more productive. Consider we are able to spend our money, without taking up a job. We spend our retirement years giving back to the economy without taking. Heck, we spawned an industry. We create things that would have never existed if we were working. Blogs, books, art, crafts, websites, you name it. We volunteer and teach. It is pretty exciting because many of us love every minute of what others call work.

OK, I am done waxing poetic.

Yes, you did wax poetic. Well said. Right on the money.

 

[Redbugdave]

I live in SC...Some of the fun courses I plan to fit into my schedule when offered after my retirement starts...
> Master Wildlifer Home - 2005
> Master Tree Farmer : College of Agriculture, Forestry and Life Sciences : Clemson University
> SC Master Gardener : Extension : Clemson University : South Carolina

A few classes, (blacksmithing, for starters), I plan to take also up in NC...My wife is interested in some others, also. Some of you folks may be interested in some of the other classes...
https://www.folkschool.org/index.php?section=classes&method=by_subject
https://www.folkschool.org/index.php?section=subjects&subject_id=4

In South Carolina, (and maybe your state too...you need to check on it), college tuition is free for people aged 60 and older who are retired, or people aged 65 (retired or not), and are able to audit college level classes if: 1) there is space in the class, 2) with the permission of the professor. When I hit 60 a few years later...more classes to take. I think it will be great to be surrounded with a bunch of people having the same interests and burning desires...
For me... more archaeology, geology, botany, forestry, anthropology, wildlife management...

 

[FinanceDude]

I've never fantasized about being a teacher. I've just fantasized about having their retirement benefits.

 

[HsiaoChu]

Re: Teacher pension plans.

In some places they are really fine, but in other places not so fine. In the state I'm moving to(where I bought the house from a retiring teacher, brokered by a former teacher and the mortgage Ceo also a former teacher) The pension is 50% of a fairly low income to begin with, AND the system opted them out of Social Security too, and there are no COLA's. This means that for him, retirement is the same as getting only social security, and considering the level of compensation, its unlikely that he could have saved very much to begin with and still survived.

In my state, the pension is about 75% of income, and you get social security too. I also have occasional COLA's every 5 years or so. My mother is 88 and retired for longer than she worked; the system will be happy when she moves on. In her defense(not that she needs defending), she thinks she is only 86, and that its only 1910, and that her grandchild who is 30 is only in high school! The system took 8% of our gross out for investment for 30+ years, and an equal amount from the district. 30 years+ of high quality investment has during the big years netted the system more than 12% per year. While they lost money in the collapse, they made 6% this past year, so they are doing alright with the fund. Its also independent and totally untouchable from state government. Its also unable to be changed, since multiple lawsuits to try to change the agreedupon contract between the teachers and the state and the pension system have resulted to NO CHANGE ALLOWED. Its a lock, and what more, if the system itself becomes insolvent, the state itself in on the hook for paying it. The public employees fund and the State Police retirement fund are in the same system; though separate. We don't have healthcare though.

 

[Sea Kayaker]

Until I stumbled upon this site, it never occured to me that someone might choose to keep working if, in fact, they could retire. Boredom, or lack of purpose, seems to be an issue for many. For myself, the ONLY time I'm ever bored is at work. Work is the main obstacle preventing me from pursuing my passions. But it is also the process which will hopefull allow me to FIRE at 45... so I plug away.

As my username might suggest, sea kayaking is my #1 hobby... just thinking about all the B.C. coastline (not to mention WA., ORE, Cali., Baja) that I haven't yet explored makes me all the more determined to make FIRE happen.

Oh yeah, also have to bulid a cabin on my island property at some point. Time is a scarce commodity these days....

 

[metabasalt]

Though I've thought about ERing for years I and my wife have never quite felt ready to financially. But now it's very near. The problem is my age. What's the official age for no longer ERing but just plain Ring? I guess because I feel young and could keep working I keep thinking that I'm ERing when what I'm really doing is Ring.

 

[REWahoo]

Though I've thought about ERing for years I and my wife have never quite felt ready to financially. But now it's very near. The problem is my age. What's the official age for no longer ERing but just plain Ring? I guess because I feel young and could keep working I keep thinking that I'm ERing when what I'm really doing is Ring.

The cutoff age for ER is whatever you want it to be. Of course if you are in your late 60's or older, you may have to work (ha!) to convince a few skeptics.

 

[metabasalt]

Thanks REWahoo, That was my guess. Still in my early 60s so I guess I qualify. When I do, which will be very soon, I think i'll still feel like an ERer.

 

[Sea Kayaker]

REWahoo: 17000+ posts... I am in awe.

 

[REWahoo]

REWahoo: 17000+ posts... I am in awe.

Some strive for quality, others simply turn up the volume...

 

[ScottFromUtah]

REWahoo, with that many posts on this forum, you could be 85 when you retire and it would qualify as ER!