Poll: There is no place for retirement anymore?

[Alex The Great]

There is an article about retirees heading back to labor force due to high inflation:
https://finance.yahoo.com/news/no-more-retirement-retirees-heading-231500576.html
Do you plan to get back to work?

 

[jim584672]

No.

 

[mpeirce]

To retire early you really do need to be financially independent - FIRE.

If you have a reasonable plan, you should be able to weather the normal business cycle without problems.

So, after 10+ wonderful years of FIRE, my answer is “of course not”.

 

[Freedom56]

Those articles are silly. They are mostly people living on the edge. My nephew is 22 and recently graduated from university and after six months of working hates his job. He wants to retire at 25 when he can access his trust fund. I can't say I blame him.

 

[REWahoo]

Good heavens, NO!

 

[CaptTom]

Is there a "I sure hope not" option?

Most here did their planning. Obviously we can't foresee everything. I'm still uncomfortable with the "FI" part of Fire. For all but the very few wealthiest, it's never a guarantee. But my modeling included some challenging scenarios, like this bout of inflation we're seeing today happening six years ago, right after I retired. It didn't, so in theory I should be OK. Key word "should."

 

[Hyper]

Great Lord willing, I have absolutely zero plans of ever returning to work again. This has been a good test and hoping to lock in some good CD rates this year.

 

[street]

No plans for full time work ever. I have from the first year of retirement do a little work for the State University outpost center. I have ~ 10 days so far this year I have done some work for them. I do it because I like to stay busy and is great exercise and work is all outdoors. I also gives me a few days that I can have some social activity with people.

 

[aja8888]

Even if I wanted to go back, no one would hire me.

 

[Teacher Terry]

I worked part time for the first 8 years of retirement teaching at the university until the adjuncts got eliminated. Only way I would work again is if they needed me back. No way I am working a regular job.

 

[pacergal]

No plans now. I already went back on call off and on the first few years, no more. This year I will retire my license and not renew.

 

[MarieIG]

I really need to take care of my health and spend time with family. No plans to go back to work.

 

[grasshopper]

Retired 16 years ago, moved to a mountain community. I was 54 young at the time and neighbors thought I should join the volunteer fire dept. Qualified every year for the arduous fitness test.

At 65 I gave firefighting up as my hearing was getting worst, and I missed a few instructions on the radio in a fire that could have had a bad ending.

Now at 71, there is no way I could cart these old bones out to a job. Now just happy to walk the dogs, watch the hummingbirds, and move those pesky rattlesnakes away from the homestead.

 

[daylatedollarshort]

No, there would have to be some kind of unforeseeable Black Swan to get us off our butts and back into the work force. We planned for the possibility of high inflation. We have a high allocation to TIPS, a low withdrawal rate and a low rate fixed mortgage so we actually come out ahead with high inflation. This year we're making almost $30K on the TIPS / mortgage spread.


I do keep looking for ways to lower our personal inflation rate every year. That is kind of my hobby / job. Like this year I have projects that might result in $4K or so in annual reductions. Over 30 years that is $120K, plus interest, much more than I would likely get with a part-time job.

 

[Dtail]

I doubt that I could play Pickleball 6x weekly in the office, so no.

 

[euro]

Heck no!

 

[Alex The Great]

It is great to see such a unity on this topic
But the problem is we don't know for how long this inflation or may be recession later will last. I think some people who return to work may have enough funds but fear that bad times will last for too long and they will be left with nothing. But I agree most are likely living on edge.

 

[Humbooster]

not a chance

 

[Out of Steam]

If I had had the chance to return to a job 12-18 months after retiring in 2019, I probably would have. The pandemic took away that opportunity, and too much time has now passed.

With my wife planning to file early next year, we're now close to bridging the income gap to Social Security eligibility. Even with this year's market declines, we have more savings than we did on retirement day.

 

[Mr. Tightwad]

Is this the first poll in forum history to be unanimous?

 

[razztazz]

Is this the first poll in forum history to be unanimous?

After doing absolutely no research, I disagree

 

[jazz4cash]

There is an article about retirees heading back to labor force due to high inflation:

https://finance.yahoo.com/news/no-more-retirement-retirees-heading-231500576.html

Do you plan to get back to work?

I only see inflation listed as one of several reasons for going back to work. Returning after a break, semi retiring, and getting bored have always been reasons for returning to the workforce. Covid magnifies the trend. I also personally believe all the NOW HIRING signs are an incentive especially for jobs that are essentially show up and get paid. If you are returning due to a single year of high inflation you are overly cautious or were not really prepared.

No I am not planning to retire. To me inflation is remarkable, but really not too bad at all. Being retired, It just doesn’t affect me like it would’ve when we were commuting and raising a family. It’s only been a year. If it persists for several years that could be another story! That’s what I recall about the 70’s-80’s period.

 

[Ronstar]

Nope.

 

[rodi]

I answered no.

That said I witnessed, at a young age, my grandparents face this decision. My grandmother had been a homemaker. My grandfather had retired at 55 with a pension and later SS. The pension was NOT COLA adjusted. The big inflation of the 70's hit their budget hard. Since Gramps would lose his SS if he went back to work, Grammy got a job as a "shop girl" at a high end gift/antique shop in La Jolla. It may have paid more than minimum wage - but not much. But, it was enough to make their budget work, and got Grammy SS quarters she didn't have. She did this for about 10 years. She worked about 30 hours a week.

I took note of this when I was doing my own planning. My (super microscopic - <$500/month) pension is non COLA - but is not really counted in my budget. Other income streams are more COLAd - DH's SS, rental income, investments...

 

[FLSUnFIRE]

I'd never say never but I'm a long way off from that. My first year would have been even more fun if my portfolio had grown instead of fallen but SORR was part of my decision so I'm not stressed by it. I'd try almost everything else before seeking a real job! Worst case, I'd probably be more aggressive seeking fun jobs...I'm pretty lazy and commitment phobic since I quit!