To Each Their Own: "Why Retire?"

[Danmar]

I was rather tired of my work, didn't need the pay any more, and have other things that I enjoy doing.

Describes me as well. The thought of going back to work, even part time, just does not appeal to me. I love having control of my time. But if you really like working, or need to work, knock yourself out.

 

[brett]

Agree. I walked away and never looked back. Worked out well and very pleased with the decision.

 

[Music Lover]

​

These are lucky people to be still working in their 80s and 90s. I myself don't think it's a sure thing I will make it to that age, let alone working. So, I do not feel sorry for them. Old and working is better than dead.

1. Old and working
2. Dead
3. Old and not working

I'll take #3 please...

 

[albireo13]

I think a lot of people are working until they're older for several reasons ...

1. they are scared sh**less about the rising cost of healthcare
2. they are scared sh**less that SS will be raided by the politicians down the road

 

[Bigdawg]

from a guy who is FI but still working, here are my two cents: Still working for a few reasons. The job doesn't suck. It actually is pretty cool. Boss doesn't micro manage. Pay is outstanding. Tried to retire 3 years ago. Failed mentally. Wasn't ready to shut the brain down. DW was/is still working. Wanted a bigger cushion. In 2017 I/we took multiple trips. NH for DD's college volleyball regionals. NH again for a quick snowmobile trip when 12 inches dropped in 24 hours. Kansas City for DD's college volleyball national tournament. Long weekend in Delaware for DD's college graduation. 11 days in Australia to help DD set up her apartment (internship). Everyday in the summer on my beach (Chesapeake Bay). 9 days in San Diego over Labor day timeframe to see my DS and some old friends (still have a house there). PA for Thanksgiving with family and heading to VT for Christmas with family. All the while working a full time job (a very easy 40/week) and also the side hustles (officiating baseball and volleyball). I don't feel stressed or overworked. The only drawback is the vacations could be a bit longer. DW says at least 4-5 more years for her so going off of her timeline. I may pull the trigger earlier than her. To me FI is separate and way more important than RE. Additional side hustles may be taking up a greater chunk of time (real estate, small business). If that happens the plan will be to go 3/4 or 1/2 time at current gig. One other thing, DW and I are both fiercely independent and require time apart. We are working on that. Marriage has never been stronger. 25 years here in march. Lucky man and I know it. So glad that I did not have a horrible megacorp experience like many of you had. Cheers.

 

[dg001]

My dad retired at 57. He is a civil engineer and managed big construction projects, and had been looking forward to retirement.

Within a year, he was back at work. He found a contract overseas in a very low tax jurisdiction, with a warm climate and has been working ever since. He is now 78, and every time we bring up his retirement he says, don't worry they will kick me out soon. I think he is afraid of going back to the year when he felt he "had nothing to do". He is genuinely happy doing what he is doing. He says he was lucky to be able to change the factors that made him unhappy.

I am 42, and every time I come to this forum, I think of him. I think retirement is a state of mind, and some people just find the key to be happy.

 

[jollystomper]

One big reason I did not RE after FI was Megacorp moving me to working full time from home. Saving 1.5-3 hours every day along with the resultant reduction in stress made a big difference. Also, with me able to move much of my job into "hobby" mode, and about 6.5 weeks of vacation, the pay is quite "ridiculous". So I'm (as I have discussed in another thread) "gliding" to retirement, just waiting for the next Megacorp retirement program/layoff to occur that I am eligible for.

 

[jollystomper]

The people described in the article all belong to that latter group: a 96-year-old judge, an 82-year-old high-school teacher who knows 6 languages, an 88-year-old Nobel-winning neuroscientist, a 71-year-old pediatrician who has her own clinic.

The author does not describe any laborer who says he likes to dig trenches at 80 and just does not want to quit. Nor has she found a megacorp worker who says he likes to come in to work after reaching FI, just to enjoy all the BS that management dishes out.

This is a very good point. People doing things that do not require heavily physical activity and are essentially exercising their minds in a primary realm of interest will have less of a desire to retire, because they find it fun and, in their mind, do not see it was "work".

It is like the old adage "if you find a job you truly love, you will never work another day in your life".

 

[Luck_Club]

One big reason I did not RE after FI was Megacorp moving me to working full time from home. Saving 1.5-3 hours every day along with the resultant reduction in stress made a big difference. Also, with me able to move much of my job into "hobby" mode, and about 6.5 weeks of vacation, the pay is quite "ridiculous". So I'm (as I have discussed in another thread) "gliding" to retirement, just waiting for the next Megacorp retirement program/layoff to occur that I am eligible for.

OK so by all accounts I've been enjoying a pretty low key (independent) work life for many years. I've been self employed, self managed, and self driven for over 20 years. Given the easiness of the work, I should keep going forever. Heck the money is great, why not just keep going? The driving forces for me to pull the plug are:

1) Vacations. Though I can take as much or as little time as I want in theory, I haven't had an "unplugged vacation" since my Honeymoon 25 years ago. There are calls to take and e-mails to respond to every day.

2) Fear. Fear of getting fired at any point for any reason, fear of being accused of being unresponsive, and fear of being accused of not working. Having to be on guard constantly with regard to that fear consumes vast amounts of mental energy and is detrimental to my health. Though I'm FI, the psychological blow of being rejected by others is tough to handle.

3) As an earlier poster mentioned. There is a part of me that wants to make room for the next generation. Why be a greedy pig, while you starve your neighbors kid?

 

[Souschef]

Agree. I walked away and never looked back. Worked out well and very pleased with the decision.

+100

 

[jollystomper]

3) As an earlier poster mentioned. There is a part of me that wants to make room for the next generation. Why be a greedy pig, while you starve your neighbors kid?

The funny thing is, I have told my management to feel free to move me aside to save someone else's job or to allow them to hire new folks, and so far they do not want to do that... but they have me doing more mentoring of the new folks, which is something I enjoy. As my manager commented, "it goes beyond what we pay you, it goes to the way you are influencing the next generation to get to your level and skills, and we appreciate that". At least, they do so for now.

 

[FreeBear]

This is a very good point. People doing things that do not require heavily physical activity and are essentially exercising their minds in a primary realm of interest will have less of a desire to retire, because they find it fun and, in their mind, do not see it was "work".

It is like the old adage "if you find a job you truly love, you will never work another day in your life".

Frankly, I admire and even envy those who found w*rk intellectually stimulation. Over my career in tech, perhaps I found 20% of the time stimulating and challenging. The problem was that the industry had been offshoring for decades. The fun stuff, tech development, finally left and so did most of the fun. It was replaced by extra piles of steaming BS. Perhaps I placed my bets on the wrong industry.

On the other hand, accepting my career's had a finite shelf life and a wide range of passions outside of w*rk prepared and drove me to FIRE. I saw enough 50 somethings get canned after decades of experience. I knew that this would probably be my fate, and I simply prepared for the inevitable financially.

Now, after being FIRE'd for 3 years, I can say that I've found the j*b I truly love, and I never plan to w*rk another day in my life! This is what I had been dreaming about as a kid, doing whatever I want!

 

[Teacher Terry]

I retired 6 years ago and 7 months later was offered a chance to teach an online college class. I still do it and don't plan on quitting. It is fun, I do it from home and I can travel anywhere with internet. Plus the pay is great.

 

[JoeWras]

Frankly, I admire and even envy those who found w*rk intellectually stimulation. Over my career in tech, perhaps I found 20% of the time stimulating and challenging. The problem was that the industry had been offshoring for decades. The fun stuff, tech development, finally left and so did most of the fun. It was replaced by extra piles of steaming BS. Perhaps I placed my bets on the wrong industry.

When I read about people "loving it," it usually is in a job that has close contact with those in their community, rural or urban. This could be customers, or other co-workers.

When I started tech, at Megacorp, we had a community of our own development nerds, back when projects were at one location. Over the years, projects have spread over the world. The pressures of offshoring are many, but the one that really mentally hurts is the loss of close, local community.

 

[NW-Bound]

1. Old and working
2. Dead
3. Old and not working

I'll take #3 please...

Wouldn't we all?

Sadly, man proposes, but god disposes.

Here's a sadder outcome:

4. Die young while working.

 

[shortstop14]

When I started tech, at Megacorp, we had a community of our own development nerds, back when projects were at one location. Over the years, projects have spread over the world. The pressures of offshoring are many, but the one that really mentally hurts is the loss of close, local community.

That is also my experience. I enjoyed working with local teams to solve a problem or create a new product or tool. But by the end of my career, I was working remotely with developers in the US and India who changed frequently. It just became tedious but still difficult work - not bad when I needed the money, but not much to hold me after I accumulated enough.

 

[Badger]

Some people make bad decisions and have no choice but to work until they die. A good friend who made more than 2X my income and spent as fast as he earned. He was very much the grasshopper in the story. Later he made some other bad decisions and not only spent a couple of months in jail for DUI and control substance abuse but was also fired from a good paying job. At 70 his health is poor, he has no money other than the small SS check each month, and needs to take piecemeal work just to buy food. I have no doubt that it will only be a few more years when he will not be able to continue working and before he will be in serious trouble to survive. He now understands what I was doing all these years but it is too late for him now. I doubt he would change anyway even if there was still time.

Cheers!

 

[HadEnuff]

What is early?
I am 69.1 and working part time.
Drawing <1% from retirement funds.
It feels as if quitting before 70+ is early.

Of course, I am pretty sure I won't be this guy: "Judge Weinstein is 96 — decades past the age when most Americans choose to stop working."

heck, he's working well past the age most Americans stop breathing. But I'm happy for him.

and happy for me, that I was able to retire comfortably, albeit not "early", in my book (retired at 62).

 

[Bigdawg]

2) Fear. Fear of getting fired at any point for any reason, fear of being accused of being unresponsive, and fear of being accused of not working. Having to be on guard constantly with regard to that fear consumes vast amounts of mental energy and is detrimental to my health. Though I'm FI, the psychological blow of being rejected by others is tough to handle.

3) As an earlier poster mentioned. There is a part of me that wants to make room for the next generation. Why be a greedy pig, while you starve your neighbors kid?

#2. You own your own business correct? How can you get fired?

#3. While you starve your neighbors kid? Really? As of today if you want a job you can have a job. I/we are trying to hire three engineers. We set up interviews and then the persons calls and cancels. Turns out they have 3-4 other offers.

 

[Winemaker]

I think a lot of the older actors, TV, paper and magazine reporters are just egomaniacs. Diane Sawyer, Andrea Mitchell, Andy Rooney, Carl Rochelle, Jim Vance to name a few that are still w@rking or who have died while w@rking. Surely, they were all making big bucks and are married to others who made big bucks. Take your gold watch and ride off in the sunset, there are plenty of younger people that can read the party line.

 

[ExFlyBoy5]

Take your gold watch and ride off in the sunset,

I have always thought it odd that tradition of the gift of a watch for retirement. I rarely wear a watch these days and the only time I pay close attention to the time is for Sunday Happy Hour @ my Dad's...I don't want to miss a minute of that!

I much prefer the AF flyer's way of doing it...keep passing a bottle of Crown Royal around the Heritage Room until it's empty.

 

[Scuba]

I was rather tired of my work, didn't need the pay any more, and have other things that I enjoy doing.

Exactly how I felt! Haven’t missed it at all since ER 14 months ago.

 

[Luck_Club]

#2. You own your own business correct? How can you get fired?

#3. While you starve your neighbors kid? Really? As of today if you want a job you can have a job. I/we are trying to hire three engineers. We set up interviews and then the persons calls and cancels. Turns out they have 3-4 other offers.

The business can be fired by the client at any time. I've chosen to stay a small firm, so only have 1 large client and a couple of smaller ones at a time. Years ago I met with an old timer, who said two ways to make money, stay small and only have a few clients or get large, have multiple clients & employees. In the end you usually make about the same amount either way. I chose small low overhead.

#3 was directly referencing a situation I found myself in 3 years ago, during a downsizing. The client canceled my contract instead of one of the older reps who was already 60+, and financially independent. He had told me earlier the only way he would stop is if they fired him, and he would never retire. I asked him when the ax fell on me if he would retire, and no was his answer. It was painful, since I was 47 and needed about 3 more years to finish feathering the nest. It would still hurt but not have sent me into a panic.

So I've set my date, and will hang up my hat opening up a good income stream for someone else.

 

[HFWR]

Take your gold watch and ride off in the sunset...

I picked a Weber SS grill. Didn’t need no stinkin’ watch!

 

[USA]

Why retire? To me, it’s everything in it’s time. Brought back good memories for me seeing ExFlyBoy5’s pic!