POLL - Are you truly fully retired? Meaning your income is passive from Investments, SS, Pensions, Annuities Etc. you do not work at all for income.

[Teacher Terry]

I retired 13 years ago at age 58. Within seven months I was offered an opportunity to teach a college class at the university. I had never done that before so it was a new endeavor hence my username. I did it for eight years and absolutely loved it.

I’ve also done consulting in my previous occupation for all but three years. This year has been the busiest that I’ve ever been because the counselor I get referrals from has been very busy. I enjoy it and don’t see not doing it as long as my health and mind permit. If I ever get tired of it, then I will quit

 

[skyking1]

I have a non-standard answer to your question. I will still do a job or two for the company, but I won't get paid in wages for it. I do get the use of the company toolkit and it has been priceless.

 

[Lorenzo]

I answered "No", but I got to thinking maybe I should've answered "Yes" because I have owned 2 single family rental houses for almost 40 years. Does receiving rental income mean I am not truly fully retired? Am I going to be kicked off this Early Retirement forum now lol!

I retired at age 50 and have had no other "earned income from any job" since then. However, some people might consider landlordship a "job" since you still have to spend time finding tenants, maintaining the property, repairing and replacing appliances, etc. It's not too bad with just 2 rentals, though. I only get called 2 to 3 times per year by the tenants, on average, to fix or replace something. And thankfully my tenants tend to be long-term.

I have known a couple of people like that, each of them for over 20 years, and in all that time I have not known them to have had any other "job" than minding their rentals. One of them has said they formally consider their job to be "real estate investor." I don't think either of them has any intention of "retiring" to a different situation.

 

[old medic]

I voted yes even though the DW is still working. Once she hangs it up, she will also be a yes.
I have made some cash each year, couple hundred bucks, doing odd and end stuff around here for neighbors.

 

[audreyh1]

I answered "No", but I got to thinking maybe I should've answered "Yes" because I have owned 2 single family rental houses for almost 40 years. Does receiving rental income mean I am not truly fully retired? Am I going to be kicked off this Early Retirement forum now lol!

I retired at age 50 and have had no other "earned income from any job" since then. However, some people might consider landlordship a "job" since you still have to spend time finding tenants, maintaining the property, repairing and replacing appliances, etc. It's not too bad with just 2 rentals, though. I only get called 2 to 3 times per year by the tenants, on average, to fix or replace something. And thankfully my tenants tend to be long-term.

This has been a point of debate on this forum for many years. And that won’t change. I’m sure many consider that being a landlord you still own a business.

 

[Lorenzo]

This has been a point of debate on this forum for many years. And that won’t change. I’m sure many consider that being a landlord you still own a business.

The IRS sure does.

 

[ShokWaveRider]

Congrats to the ~80% who do not W#$k. For the ~20%, hopefully you will get there one day. Just Kidding.

 

[bada bing]

I've been working a consulting contract per year, anywhere from 20 to 40 days worth. 1099 day rate, no benefits and average about 1/3 of my planned $100K annual spend from "work". This year was the most since retirement, 42 days. I get offered discrete projects and take only one per year. Although the money is nice, it isn't the reason at all. I like a little work connection and my two residences are less ideal hangouts during the middle of summer, when I work. Tucson is too hot and South Central Alaska is wrapped up with tourists. I rationalize I'm still retired because I'm footloose and fancy free 10-11 months out of the year. I'll take it as it goes but anticipate doing similar until maybe age 70 if it continues being offered and is interesting, maybe another 3-4 years. I didn't anticipate doing this when I initially retired, but took a first offered contract 10 months post retirement and found I liked it, so continued. This was the first year I didn't get a little hard sell about returning to full time, so that's good. The biggest benefit of a little work is that it reminds me of why retirement is so grand.

 

[Time2]

I voted yes even though the DW is still working. Once she hangs it up, she will also be a yes.
I have made some cash each year, couple hundred bucks, doing odd and end stuff around here for neighbors.

old medic, as I understand the question,
"Do you get any form of paid compensation to supplement your retirement income?"
This means if she hangs it up (she has no income) her answer would be no, I don't have any paid compensation. The poll was different than the subject.

[mod delete and bold deleted as requested]

 

[GenXguy]

old medic, as I understand the question

The poll was different than the subject.

Yeah, polls are usually messed up. lol

 

[thod]

I voted "no", but I have technically been paid for working a few elections during the last 5 years. But I do not work those to be paid, but more because I can. However, if they send me a check, it will get deposited.

 

[planuntilthefisthits]

I voted “no, “ but DW gets a couple of measly honoraria for sitting on some external advisory boards.

 

[gumshoe]

This has been a point of debate on this forum for many years. And that won’t change. I’m sure many consider that being a landlord you still own a business.

The IRS sure does.

Actually, not all landlords are considered business owners. I have only 2 rentals and my activity in managing them is minimal. I would be considered a "Personal Investor" rather than a business owner because I file Schedule E - Supplemental Income and Loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, etc.. Schedule E is used for reporting my rental income as passive income. (If my 2 rentals were considered a business, I would be filing Schedule C - Profit and Loss from Business instead.)

I would venture to say that there are probably many retired people who spend more time managing their investment portfolios of stocks/bonds than I spend on my 2 rentals. So, in my mind I am still truly retired. And that's what I've been telling people for the last 21 years.

 

[audreyh1]

That’s true. DF was retired from a completely different career, but had inherited the largish farm on which he lived. He leased most of the land to a local farmer and didn’t do anything but collect the annual rent and file schedule E.

 

[old medic]

Yeah, polls are usually messed up. lol

Should we have a poll about that?

As for rentals... My Brother pays us to stay in the other house... so it goes to DW and we are still a yes... Even though we should have been no...

 

[Lorenzo]

Actually, not all landlords are considered business owners. I have only 2 rentals and my activity in managing them is minimal. I would be considered a "Personal Investor" rather than a business owner because I file Schedule E - Supplemental Income and Loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, etc.. Schedule E is used for reporting my rental income as passive income. (If my 2 rentals were considered a business, I would be filing Schedule C - Profit and Loss from Business instead.)

Interesting. We don't have a rental property anymore, but I recall our CPA used Schedule C even though a property management company ran the property for us, and we had near zero involvement.

 

[jfn111]

I got my RE License after I retired from Mega Corp. I still sell an occasional house and do some field work for an appraisal company.
I'll put in about 1 1/2 hours today photographing and scanning a house then nothing else planned for "work" until next Wednesday.

 

[FD1000]

When I retired, I meant it. I haven’t worked since, and I won’t work again—even if I were offered three times my last salary. It does matter if you work 5 hours a week or 5 hours a month, or even every 3 months, you are not 100% retired.
In my view, retirement means no more paychecks.
It’s like being pregnant—there’s no such thing as being ‘half-pregnant.’

 

[Ronstar]

When I retired, I had two lingering road right of way projects that were destined to go to court. Sure enough one did and I had to be an expert witness for a couple of days 3 or 4 years after I retired.

Oh and I had to go back to the office after I retired to clean out my desk, but I got paid in pizza.

 

[Lorenzo]

When I retired, I meant it. I haven’t worked since, and I won’t work again—even if I were offered three times my last salary. It does matter if you work 5 hours a week or 5 hours a month, or even every 3 months, you are not 100% retired.
In my view, retirement means no more paychecks.
It’s like being pregnant—there’s no such thing as being ‘half-pregnant.’

Many (though certainly not all) jobs have a distinct line between on-the-clock and off-the-clock, and you're never expected to do more than your job description or work a different schedule. With a job like that, when you're between shifts or projects or whatever, you are just as retired as anyone. My semi-retirement is a little closer to your analogy in that, as a professional, there is always some implicit bit of tethering to the mothership even when I'm between discrete tasks. Sometimes I do feel like I'm still carrying around a tiny weight even when I have no tasks on the horizon. I expect full retirement will just feel good.

 

[NoiseBoy]

I starting working a hobby-job that I love the day after I retired from my mega-corp. So far, the money that I have earned working in retirement I have used to support my hobby business. The hobby business also keeps me active in other ways. I follow a forum of professional users and I try to watch YouTube videos and do other things to add to, or improve my skills. There is some physical work involved, so it also helps keep me active and off of the couch.

I work for myself, or I'm contract labor for others, but importantly, I can turn down any work that doesn't look like it would be fun. I do not need the money to meet my daily living expenses, although I am hoping to put an end to my GAS (gear acquisition syndrome) soon so I can start spending my hobby income on the finer things in life.

I am 61 and a time will come when I cannot do this kind of work any longer, so there's also an aspect to doing what I enjoy while I still can to this. And I keep pushing up my price

 

[Chuckanut]

“Work!!!” - Maynard G. Krebs

 

[aaronc879]

I didn't vote because there seems to be some grey area. I don't work any regular job but I do help my parents out a lot and they will often take me out for a meal or slip me a $20 or whatever they want. I mow their lawn, clean up leaves, I will be snow blowing their driveway, and I also drive them to places my Mom doesn't feel comfortable driving. I don't know if that counts as "work" for the purposes of this poll. I will probably get several hundred dollars a year not counting the value of the meals they pay for. Considering I live on under $12K most years, it is a somewhat noticeable help. They pay me because they can and because they know that it causes me extra pain to do any manual labor work for them. I have to take OTC pain meds every time I do anything like mow the lawn or clear snow.

 

[pacergal]

I worked on call for a few years after retirement, nothing in the last 4 years, finally fully retired!

 

[CalBird]

Yes, unless you count managing my portfolio, selling puts as work.