Anyone planning on never retiring?

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41Fin
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Re: Anyone planning on never retiring?

Post by 41Fin »

I will retire from paper pushing one day but I will probably always work.

Plan on getting a job at a theme park or something so that the grand kids can get free tickets etc.

Got 30 years to figure out the plan though!
arizonaslim
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Re: Anyone planning on never retiring?

Post by arizonaslim »

My father was one of those people who was dead-set against retirement. He worked until ill health forced him into retirement at age 84.

Dad lived seven more years and was miserable. He knew his health was failing, and he hated his life. To this day, I am amazed that he didn't take one of his guns into the woods so he could shoot himself.

Mom was a public school teacher who took an early retirement buyout at age 67. She wanted to work until age 70.

After her retirement, Mom went into a low-grade depression and never emerged from it. Ever.

So, I have two close relatives who serve as role models for the downsides of retirement. I plan to keep working until I'm dead or no longer able.

As for volunteer work, blankety-blank that. If I'm working, I'm getting paid. Period.
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VictoriaF
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Re: Anyone planning on never retiring?

Post by VictoriaF »

People who do not enjoy their retirement make two mistakes:
1. They retire FROM, not TO.
2. They retire too LATE, not too EARLY.

To clarify:
1. When you have something to retire TO, you are waiting for the earliest opportunity to do so. You are planning and anticipating and are excited to do things you have been dreaming about.

2. The earlier you retire the more health, energy, drive, and curiosity you have to pursue your current interests and develop new ones. The longer you wait the more difficult it becomes to design and implement a new life.

Victoria
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reggiesimpson
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Re: Anyone planning on never retiring?

Post by reggiesimpson »

One of the primary reasons I retired 8 years ago at 62 was because I saw it as a terrific adventure. Not the slow decay that so many like to equate it with. To some degree I consider people who keep working when they don't have to as being afraid. Afraid of the unknown. Afraid of thinking outside their box. Afraid of thinking and doing something completely different. When folks ask me what do I do all day (typically in a condescending way) I have one answer. I do whatever I want because I own my own time. That always shuts them up and they realize they need to seriously think about what they are doing all day. I don't.
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bligh
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Re: Anyone planning on never retiring?

Post by bligh »

VictoriaF wrote: Thu Aug 17, 2017 11:19 am People who do not enjoy their retirement make two mistakes:
1. They retire FROM, not TO.
2. They retire too LATE, not too EARLY.

To clarify:
1. When you have something to retire TO, you are waiting for the earliest opportunity to do so. You are planning and anticipating and are excited to do things you have been dreaming about.

2. The earlier you retire the more health, energy, drive, and curiosity you have to pursue your current interests and develop new ones. The longer you wait the more difficult it becomes to design and implement a new life.

Victoria
Wow. I knew this, but you put it so beautifully and so succinctly too.

I am gonna save that in my journal. Thank you.
freebeer
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Re: Anyone planning on never retiring?

Post by freebeer »

VictoriaF wrote: Thu Aug 17, 2017 11:19 am People who do not enjoy their retirement make two mistakes:
1. They retire FROM, not TO.
2. They retire too LATE, not too EARLY.

To clarify:
1. When you have something to retire TO, you are waiting for the earliest opportunity to do so. You are planning and anticipating and are excited to do things you have been dreaming about.

2. The earlier you retire the more health, energy, drive, and curiosity you have to pursue your current interests and develop new ones. The longer you wait the more difficult it becomes to design and implement a new life.

Victoria
Wow that is a great way to think about it - thanks!

My problem is that while I definitely have the TO to look forward to I also have unfinished business and enjoyment that I would be going FROM. I'm (mostly) excited about what I'm doing work-wise and the unknowns (both financial and emotional) of turning post-work dreams into reality are so far not tipping the scale that way. But your framing is helpful and maybe I'm suffering from "anchoring" bias... not in terms of my financial investments (no anchoring bias there!) but in terms of my investments in the truly limited resource: my time.
Barefootgirl
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Re: Anyone planning on never retiring?

Post by Barefootgirl »

yes, my former husband - he plans to die with mouse in hand.

I suppose it's because work is his identity, he works for himself and he may not want his heirs to know about his debts.
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.
weltschmerz
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Re: Anyone planning on never retiring?

Post by weltschmerz »

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dave_k
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Re: Anyone planning on never retiring?

Post by dave_k »

sunny_socal wrote: Thu Aug 17, 2017 8:40 am I'm planning on retiring but I'm expecting to never quit working.

Retirement:
- Yes, some day I will no longer provide value to companies related to my current career (high tech)
- I have a 401k etc
- I'm "hoping" for SS, hoping I can eventually make use of that 401k

The reality:
- Healthcare (ie. the insurance companies...) costs will be astronomical in the future.
- I expect no inheritance from either side of the family, all wealth will likely be consumed by healthcare costs
- The SS system will be defunct by the time I'm eligible due to gross mismanagement
- 401k can be taken from me by the stroke of a pen.
We're living in a unique period of history. Will it always be thus? (Probably not....)

So it's rather likely I'll need to keep working until I'm in the grave. But that's ok, at least I'll have helped out many people along the way and that's what life is all about :beer
I understand wanting to plan for the worst, but I think (hope) you have an overly pessimistic view of reality in terms of SS and 401Ks. The SS system is set to drop to about 75% of expected payouts around 2034 if nothing is done, and continue that way for decades more, which is much better than 0. Over 5 trillion dollars are saved in 401Ks in the US, and around 8 trillion more in IRAs. That's about $100K per household on average. Taking that away at the stroke of a pen would be so wildly unpopular that the conditions under which it could happen would also be conditions under which the investments inside them may not be worth much anyway - serious economic collapse. Only the "preppers" will be ready for that. :shock:
Billionaire
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Re: Anyone planning on never retiring?

Post by Billionaire »

My wife retired in January 2016. She started taking classes, exercising more and volunteering for a charity or two. Nine months later she was diagnosed with breast cancer and has been dealing with that and another health issues. She is starting to get back into the swing of things, but some additional tests are coming up and I suspect she is more nervous than she is letting on. I would be too. I can't wait to retire or maybe I should say look for other things to do, even if it means a part-time job.
stimulacra
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Re: Anyone planning on never retiring?

Post by stimulacra »

There's a good talk by Mr. Money Mustache on Youtube somewhere about retiring at age 30 (by saving 60% of your take home salary).

“Work is better when you don't need the money”.

1) You can do the work you truly care about.
2) You can be honest.
3) You can devote time to making your world a better place.
marcopolo
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Re: Anyone planning on never retiring?

Post by marcopolo »

VictoriaF wrote: Thu Aug 17, 2017 11:19 am People who do not enjoy their retirement make two mistakes:
1. They retire FROM, not TO.
2. They retire too LATE, not too EARLY.

To clarify:
1. When you have something to retire TO, you are waiting for the earliest opportunity to do so. You are planning and anticipating and are excited to do things you have been dreaming about.

2. The earlier you retire the more health, energy, drive, and curiosity you have to pursue your current interests and develop new ones. The longer you wait the more difficult it becomes to design and implement a new life.

Victoria

+1
I really enjoy my job, have had a very rewarding career. But, I am very much looking forward to retiring as soon as my youngest child goes off to college in 2 years, if not sooner...

I have several several things I am retiring TO. So while I may miss the challenge and social aspects of work, I will have new challenges and social groups to replace them. I will be 52, young enough to have the energy required to be fully engaged in life.
Once in a while you get shown the light, in the strangest of places if you look at it right.
Naismith
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Re: Anyone planning on never retiring?

Post by Naismith »

Part of why this is so hard to discuss is the way we throw around the word "work." When I was a full-time mom, I never thought of myself as "not working." I was not employed, but I certainly had a lot of work to do at the hardest job I have ever held in my life (and I am an Army veteran and did a graduate degree with three kids).

When we retire next year, we hope to serve a mission for our church for the first few years. I am learning a foreign language to facilitate this. Yes, it is harder in my 60s, but I have been working at it for 5 years and some of it is sticking.

I have been active in the League of Women Voters (and in our unit, about a quarter of members are men), and usher at the University performing arts venues, which means free entry to a lot of great shows. The nearby University also provides opportunities for guest speakers and participation in clinical trials.

About 10 years ago, I hurt my back. While I am pain-free most days, there is a maintenance cost--I am at the gym at least 3 days a week, so some social interactions there.

We have 8 grandkids, so visiting them is important and one of them lives in Austria, which is a great hopping-off point for traveling Europe.

I love my job, but my biggest frustration with employment is that I have to do international trips in a mere 2 weeks, and jet lag gets harder as I get older. Europe isn't too bad, but the Asian trips are pretty debilitating. If your job allows a more extended vacation, I can understand why there would be no need to quit.

So I expect to stay busy in retirement. Maybe I am naive.
TN_Boy
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Re: Anyone planning on never retiring?

Post by TN_Boy »

Muri wrote: Wed Aug 16, 2017 7:33 pm A friend of mine retired at age 62. She told me before she retired that she was afraid of retiring because all of her retired friends became "stupid" once they retired. By that she meant that they seemed to lose their ability to think critically or remember things, and that this "stupidity" happened within the first year.
So my friend said she was going to work part time, take art lessons, learn a foreign language, and travel.
One year later she is not working part time, quit the art and foreign language classes after a few months, does have 2 trips planned, but spends her days walking her dog, watching talk shows, and taking a daily afternoon nap.
I am 58, and I don't ever see myself retiring. It's not that I wouldn't have the money to do so, it's that I still feel young, I want to be challenged, I like the structure of working, and I need the social contact.
I see my retirement savings as money to be used if I am unable to continue working at some point.
I have a sign on my refrigerator that says "retirement is a disease to avoid while you are healthy".
Am I the only person to feel this way?
I sure don't feel that way :-). There are plenty of "challenges" out there which are not associated with working. And social interactions away from work. But if you like your work, and it is not getting in the way (of the many many other things I would do instead, but maybe not you....) then work away. It's a gift to really enjoy your work.

As for your friend, we don't know much about her about her interests. I think her dog walking and afternoon naps are great, but sitting in the front of the TV during the day watching talk shows ..... that would drive me back to work in about two weeks! Get some hobbies!
hightower
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Re: Anyone planning on never retiring?

Post by hightower »

My plan is to work my tail off now until I'm financially independent, then cut back to a part time status...just enough so I can maintain health insurance through an employer and make enough to live off of while I let my nest egg grow.
TN_Boy
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Re: Anyone planning on never retiring?

Post by TN_Boy »

sunny_socal wrote: Thu Aug 17, 2017 8:40 am I'm planning on retiring but I'm expecting to never quit working.

Retirement:
- Yes, some day I will no longer provide value to companies related to my current career (high tech)
- I have a 401k etc
- I'm "hoping" for SS, hoping I can eventually make use of that 401k

The reality:
- Healthcare (ie. the insurance companies...) costs will be astronomical in the future.
- I expect no inheritance from either side of the family, all wealth will likely be consumed by healthcare costs
- The SS system will be defunct by the time I'm eligible due to gross mismanagement
- 401k can be taken from me by the stroke of a pen. We're living in a unique period of history. Will it always be thus? (Probably not....)

So it's rather likely I'll need to keep working until I'm in the grave. But that's ok, at least I'll have helped out many people along the way and that's what life is all about :beer
Do you really want to retire? As others say, I think you are pretty far over on the pessimistic side.

Hopefully staying non-political, I don't know what will happen with healthcare, but the increase in costs will slow down, for the simple reason that at some point literally nobody can afford insurance/healthcare, and the system will change.

SS, it might take a hit, but consider that the subset of the US population with the highest percentage of voters are older people. And it's a popular program with just about everybody. So SS going completely defunct ... that's not something I worry about.

Not sure what your concern is about the 401k "taken from me by the stroke of a pen."

My point is assuming all the worst things will happen could lead to half-hearted retirement planning and saving.
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FIREchief
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Re: Anyone planning on never retiring?

Post by FIREchief »

Muri wrote: Wed Aug 16, 2017 7:33 pm A friend of mine retired at age 62. She told me before she retired that she was afraid of retiring because all of her retired friends became "stupid" once they retired.
I've experienced the opposite. My brain works better since leaving Megacorp because there is so much less "noise" in there. Nothing like a long daily commute and 9 or 10 hours at Megacorp to fill the brain with all kinds of sub-processes that interfere with good sleep and meaningful mental processes. I could go back part time if I wanted to, but so far I have zero interest and I just don't see that changing. Lack of social interaction can be as much a blessing as a curse (depending on the situations and individuals involved).
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
Texanbybirth
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Re: Anyone planning on never retiring?

Post by Texanbybirth »

It seems so far away, and there is so much more important stuff going on in my life right now, that yes it seems like I will "never" retire.

(I'm an optimist, though, so I'm still saving a bit as if I might. :-) )

I like my CPA work enough, and it seems like there are tons of old dudes (and ladies) doing this work, that I'm not too concerned about long-term job security.
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
Beehave
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Re: Anyone planning on never retiring?

Post by Beehave »

Some people retire and are happy and thrive. Others deteriorate. If you ask whether anyone just plans to keep working, that is probably what you want to do. I felt the way you feel and have been teaching for 7 years since retiring from IT. I teach primarily evening classes and am a part-time employee. Work always has its frustrations, but I prefer remaining in touch with society and new ideas in a closer manner than I would were I not working. This is a subjective issue - - to each his or her own - - but as I said, if you ask about whether working makes sense it seems to me you probably really want to.

An added benefit - - odds are that since working or not working seems to be optional to you financially, you will be able to take the salary from your part-time work, deposit the income into a Roth IRA, and after age 70.5 when you must take RMDs from your 401K or regular IRAs, this part-time income makes it seem psychologically as if you are not really depleting your 401K or IRA but simply moving money out of taxable and into tax-free (because your part-time work is funding the tax associated with the RMD).

Example:
Your part-time annual income is $8,000. Your RMD is $20,000. Your tax rate is 25%. Tax on $8,000 is $2,000. Tax on RMD is $5,000. You put $8,000 into Roth IRA. You pocket $13,000. You end up overall with 5% more than your RMD with the added benefit that you have moved 40% of you RMD into tax-free growth status.
Compare with the no part-time income case: You take $20,000 RMD, pay $5,000 tax, you pocket $15,000. You end up with 25% loss of RMD and nothing added to tax-free future status.

NOTE: To do the above you cannot move any RMD funds directly from IRA to Roth IRA. You must move RMD from the IRA, place in some taxable account, and then move (within the limits) from taxable acc't to Roth acc't.

Of course the main issue is whether you want (or need) to work. Work can limit travel and social opportunities. But if you want to work it can benefit your feelings of well-being and usefulness and even with relatively low income can make you feel disproportionately more financially secure. It may also facilitate delaying taking Social Security if you want to do so.
Lynette
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Re: Anyone planning on never retiring?

Post by Lynette »

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Diogenes
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Re: Anyone planning on never retiring?

Post by Diogenes »

sunny_socal wrote: Thu Aug 17, 2017 8:40 am I
- The SS system will be defunct by the time I'm eligible due to gross mismanagement
- 401k can be taken from me by the stroke of a pen. We're living in a unique period of history. Will it always be thus? (Probably not....)

So it's rather likely I'll need to keep working until I'm in the grave. But that's ok, at least I'll have helped out many people along the way and that's what life is all about
You are worrying about some things that aren't real.

The SS system will not be defunct. Nevertheless, depending on SS for your retirement income has never been a good idea anyway. It wasn't designed to take care of your income needs, only to be a safety net. It tops out currently at only $2600/mo at FRA.
Your 401K belongs to you, not the government. The likelihood of the government taking it away 'with the stroke of a pen' is the same as your bank account being seized.

For the OP, you can read many common things written out there about retiring to something, etc. Best one I've heard recently is:
Nobody wishes on their deathbed that they worked longer.

Bottom line is that if any of that applies in your case is for you alone to decide. Just be clear with yourself as to why you decide, knowing full well that all of our time is finite. Many people generally experience better physical health after retirement, due to less commuting and less sedentary desk time and a better diet. Work forever if you must to survive financially, but if that's not the case, ask yourself a question:
Isn't there anything else I want to experience in life?
Truth and clarity are important in all things...
basspond
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Re: Anyone planning on never retiring?

Post by basspond »

arizonaslim wrote: Thu Aug 17, 2017 11:01 am So, I have two close relatives who serve as role models for the downsides of retirement. I plan to keep working until I'm dead or no longer able.
Hope what happened to your parents doesn't happen to you. But it sounds like you are on the same course. Remember insanity is doing something the same and hoping for a different outcome.
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Muri
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Re: Anyone planning on never retiring?

Post by Muri »

I am the OP. After reading everyone's comments, I think part of my situation is that we have one child still in college and the other is out. I have spent the last 25 years with my non-working hours totally revolving around my kids. Now that they are young adults I have a big gap in the non-work time part of my life. I will definitely follow the advice of looking into charities or other activities that will help me socialize more.
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burt
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Re: Anyone planning on never retiring?

Post by burt »

I wanted to retire at the top of my game. I think I did that... in my mind.
Didn't want someone else to tell me when my talents were sub-standard.
Call it ego, I guess.

burt
surfstar
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Re: Anyone planning on never retiring?

Post by surfstar »

I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday.

I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work.

Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open to donations from all of you who claim you'l never retire. I'll live off your interest, then retire the capitol when i'm gone)

These threads are always perplexing to me. Free time is costly. I would love to purchase more.
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FIREchief
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Re: Anyone planning on never retiring?

Post by FIREchief »

surfstar wrote: Thu Aug 17, 2017 5:49 pm I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday.

I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work.

Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open to donations from all of you who claim you'l never retire. I'll live off your interest, then retire the capitol when i'm gone)

These threads are always perplexing to me. Free time is costly. I would love to purchase more.
Great post! :sharebeer
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whodidntante
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Re: Anyone planning on never retiring?

Post by whodidntante »

Eventually your health will fail and you will be unable to work.

I don't want the kind of retirement where I need to watch every penny. But if I have the resources to do what I want (within reason) I'll quit my day job.
indexonlyplease
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Re: Anyone planning on never retiring?

Post by indexonlyplease »

I retired 1 year ago and it has been nice. Sometimes I will tell my wife I don't know how I ever worked because now I am so busy. Then sometimes I may be a little bored when nothing going on. I plan to work part time starting next month. But with no schedule. Just work 1-2 days a week. I will be teaching in my profession so it's easy work.

I would also state make sure you are financially ready and also mentally ready to retire. If you love your job stay there. You will never find that again.

Also, don't beleive these websites that talk about early retirement on a really low income. The idea is to retire with close to the income you had when working. What they don't tell you is they are making money on the website, so it worked for them. Maybe not you.

I believe the new term I keep reading is Financial Independent. So you can retire when you have this. Also, the idea of someone retiring in his 30s is bs and unrealistic for most.
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telemark
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Re: Anyone planning on never retiring?

Post by telemark »

No. There are things I am passionate about, things I used to be passionate about and might be again, things I might become passionate about in the future, but my job is not now one of these and I'm too comfortable to switch. Looking forward to having more time to call my own. A bit of napping would be nice too.
indexonlyplease
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Re: Anyone planning on never retiring?

Post by indexonlyplease »

surfstar wrote: Thu Aug 17, 2017 5:49 pm I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday.

I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work.

Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open to donations from all of you who claim you'l never retire. I'll live off your interest, then retire the capitol when i'm gone)

These threads are always perplexing to me. Free time is costly. I would love to purchase more.
I think that is sad. I work for 32 years and enjoyed going to work everyday. I only retired because a financial decision. Not because of the job. I think just like picking the right spouse you need to pick the right job. You will be with both for a long time. Might a well enjoy along the way.
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joe8d
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Re: Anyone planning on never retiring?

Post by joe8d »

arizonaslim wrote: Thu Aug 17, 2017 11:01 am My father was one of those people who was dead-set against retirement. He worked until ill health forced him into retirement at age 84.

Dad lived seven more years and was miserable. He knew his health was failing, and he hated his life. To this day, I am amazed that he didn't take one of his guns into the woods so he could shoot himself.

Mom was a public school teacher who took an early retirement buyout at age 67. She wanted to work until age 70.

After her retirement, Mom went into a low-grade depression and never emerged from it. Ever.

So, I have two close relatives who serve as role models for the downsides of retirement. I plan to keep working until I'm dead or no longer able.

As for volunteer work, blankety-blank that. If I'm working, I'm getting paid. Period.
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Re: Anyone planning on never retiring?

Post by Fallible »

Muri wrote: Wed Aug 16, 2017 7:33 pm ...I am 58, and I don't ever see myself retiring. It's not that I wouldn't have the money to do so, it's that I still feel young, I want to be challenged, I like the structure of working, and I need the social contact. ...
Am I the only person to feel this way?
No, you are not the only person to want or need the work structure and the social contact it includes. There have been several forum threads on this subject that you may find interesting and many articles on the subject. If you can, keep working as long as you want and retire when you feel ready; i.e., do what you think is right for you. I retired early, first to part-time work, then fulltime that included fun hobbies and rewarding volunteer work for various organizations - and that has been right for me.
"Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." ~Jack Bogle
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FIREchief
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Re: Anyone planning on never retiring?

Post by FIREchief »

indexonlyplease wrote: Thu Aug 17, 2017 7:56 pm
surfstar wrote: Thu Aug 17, 2017 5:49 pm I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday.

I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work.

Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open to donations from all of you who claim you'l never retire. I'll live off your interest, then retire the capitol when i'm gone)

These threads are always perplexing to me. Free time is costly. I would love to purchase more.
I think that is sad. I work for 32 years and enjoyed going to work everyday. I only retired because a financial decision. Not because of the job. I think just like picking the right spouse you need to pick the right job. You will be with both for a long time. Might a well enjoy along the way.
For some people, the "right" job is one that provides self-worth and satisfaction. If that works for you, great!!! Such a job did not and does not exist for me. Maybe I just don't have that craving for "self-worth." Maybe my satisfaction comes from better/worse sources. In over three decades at Megacorp, I look back and maybe see one or two years that I "enjoyed going to work." That said, megacorp was the right choice for me because I placed number one priority on providing for my family past, present and future. By the grace of God, that worked, so maybe that is my "self-worth and satisfaction." :sharebeer
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indexonlyplease
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Re: Anyone planning on never retiring?

Post by indexonlyplease »

FIREchief wrote: Thu Aug 17, 2017 8:53 pm
indexonlyplease wrote: Thu Aug 17, 2017 7:56 pm
surfstar wrote: Thu Aug 17, 2017 5:49 pm I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday.

I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work.

Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open to donations from all of you who claim you'l never retire. I'll live off your interest, then retire the capitol when i'm gone)

These threads are always perplexing to me. Free time is costly. I would love to purchase more.
I think that is sad. I work for 32 years and enjoyed going to work everyday. I only retired because a financial decision. Not because of the job. I think just like picking the right spouse you need to pick the right job. You will be with both for a long time. Might a well enjoy along the way.
For some people, the "right" job is one that provides self-worth and satisfaction. If that works for you, great!!! Such a job did not and does not exist for me. Maybe I just don't have that craving for "self-worth." Maybe my satisfaction comes from better/worse sources. In over three decades at Megacorp, I look back and maybe see one or two years that I "enjoyed going to work." That said, megacorp was the right choice for me because I placed number one priority on providing for my family past, present and future. By the grace of God, that worked, so maybe that is my "self-worth and satisfaction." :sharebeer
I know that not everyone gets the job they love. I just try to tell young people to get a job they will enjoy and get satisfaction from. Not everyone is this lucky. Like my lawyer friend, makes double the money of me but wishes he picked my career. But you and I are retired now so congratulations. What we did worked.
fishboat
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Re: Anyone planning on never retiring?

Post by fishboat »

Muri wrote: Wed Aug 16, 2017 7:33 pm I have a sign on my refrigerator that says "retirement is a disease to avoid while you are healthy".
I'll be honest..I find this statement very sad. I've been retired 18 months. Retirement isn't a disease like pneumonia. It's an opportunity to pursue your life's interests without the constraint of giving some business 8-10 hours of each and every day. I always did very interesting work, but I don't miss it..I have other interests. If one doesn't create interests in life beyond their duties at work, then I'd suggest they haven't built much of a life..."living to work" rather than "working to live"...or "working on life". If 'retirement' means watching TV, napping, and 'getting stupid' then it's the person's own fault and not due to 'retirement'. Input = Output + Waste Some folks make their lives happen while others define life as what happens to them between waking up and going to sleep each day.

If the challenge of working makes a person happy there's lots of interesting volunteer opportunities or mentoring that can be done.
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FIREchief
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Re: Anyone planning on never retiring?

Post by FIREchief »

indexonlyplease wrote: Thu Aug 17, 2017 9:01 pm
I know that not everyone gets the job they love. I just try to tell young people to get a job they will enjoy and get satisfaction from.
Depending upon which young person you're talking to, this could range from good advice to awful advice. Not to pick on musicians, but I have known several young people who decided that since they loved music, they would make it their career. I probably don't need to tell you how that tends to work out.... :annoyed
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
msj16
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Re: Anyone planning on never retiring?

Post by msj16 »

I took a self-imposed break from my work this summer (self-employed) due to burn-out but find now that I miss work. I am happy to get back to it and realize that it offers a creative outlet for my skills. I realize that I am lucky to be able to control my hours.

Victoria - please write a book about creating a mindset to thrive in retirement. I am impressed by your energy.
chinto
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Re: Anyone planning on never retiring?

Post by chinto »

I was talking to my first love the other day (we are still friends some 35 years later), her husband retired last month. We talked about that for some time, sitting together on a park bench, watching the sun set. We both saw the irony,sitting together watching the sun set not only on the horizon but on our lives. Her husband is already bored and looking for a job now (retired municipal employee with a 100K plus pension and gold plated healthcare). She is a LCSW so she was not surprised and saw it coming, she deals with retiree issues often in her practice. His identity was tied to work. She asked me my plans and smiled, knowing I would have a litany of projects, goals, and agendas planned out for my retirement years. In fact, I pretty much know what I will be doing each week for the first 7 years of my retirement which came as no surprise to her.

The point is, retirement mean different things to different people. For me it means I have the financial freedom to reallocate my time to pursue other interests. In her husband's case while he as the financial freedom to so whatever he wishes, but he really has nothing he wishes to do other than go back to work which is ironic as he truly hated his job and always claimed he could not wait to retire.

Words to consider:

“Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!”

Hunter S. Thompson
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FIREchief
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Re: Anyone planning on never retiring?

Post by FIREchief »

chinto wrote: Fri Aug 18, 2017 1:28 am She is a LCSW so she was not surprised and saw it coming, she deals with retiree issues often in her practice. His identity was tied to work.
What the heck is an "LCSW?" :confused

If somebody's identity is "tied to work," then they REALLY need to retire and find out what life is really all about.
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
chinto
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Re: Anyone planning on never retiring?

Post by chinto »

FIREchief wrote: Fri Aug 18, 2017 2:59 am
chinto wrote: Fri Aug 18, 2017 1:28 am She is a LCSW so she was not surprised and saw it coming, she deals with retiree issues often in her practice. His identity was tied to work.
What the heck is an "LCSW?" :confused

If somebody's identity is "tied to work," then they REALLY need to retire and find out what life is really all about.
LCSW - Licensed Clinical Social Worker - basically a counselor for people who cannot afford a shrink, often readily accessible through an employer's employee assistance program.
TravelforFun
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Re: Anyone planning on never retiring?

Post by TravelforFun »

None of my retired friends had gone 'stupid' during their first year or retirement. It would be a mistake to plan on never retiring.
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meowcat
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Re: Anyone planning on never retiring?

Post by meowcat »

Life gets in the way, sometimes throwing all plans out the window. I had a good friend with a very clear retirement plan. Trouble is, as he approached that target age of retirement, he found himself making more money than he'd ever made in his life and absolutely loved what he did. Needless to say, his plans changed.
More people should learn to tell their dollars where to go instead of asking them where they went. | -Roger Babson
LiterallyIronic
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Re: Anyone planning on never retiring?

Post by LiterallyIronic »

indexonlyplease wrote: Thu Aug 17, 2017 7:56 pm
surfstar wrote: Thu Aug 17, 2017 5:49 pm I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday.

I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work.

Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open to donations from all of you who claim you'l never retire. I'll live off your interest, then retire the capitol when i'm gone)

These threads are always perplexing to me. Free time is costly. I would love to purchase more.
I think that is sad. I work for 32 years and enjoyed going to work everyday. I only retired because a financial decision. Not because of the job. I think just like picking the right spouse you need to pick the right job. You will be with both for a long time. Might a well enjoy along the way.
To me, your school of thought is the weird one. "Pick a job you enjoy." That's not a thing. What I don't like about my job is having to be somewhere doing something. And that's every job. What I'm looking forward to in retirement is not having to be anywhere doing anything. Just a wide open schedule with nothing on it. That'd be the life.
zinders
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Re: Anyone planning on never retiring?

Post by zinders »

I like many aspects of what I do - and then there are some aspects that I do for money. When we feel financially secure enough to step back, I'll probably freelance so I only do the parts of the job I like (writing and reporting/traveling). So retirement might still include "work," but it would be creative and on my terms, not someone else's.
Ron
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Re: Anyone planning on never retiring?

Post by Ron »

Oops - too late!

Already retired (just over a decade) and having a ball TYVM :mrgreen: ...

Work was something I had to do; retirement is something I want to do. As the mickey d's commercial says, "I'm loving it"...

- Ron
mouses
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Re: Anyone planning on never retiring?

Post by mouses »

Muri wrote: Wed Aug 16, 2017 7:33 pm A friend of mine retired at age 62. She told me before she retired that she was afraid of retiring because all of her retired friends became "stupid" once they retired. By that she meant that they seemed to lose their ability to think critically or remember things, and that this "stupidity" happened within the first year.
So my friend said she was going to work part time, take art lessons, learn a foreign language, and travel.
One year later she is not working part time, quit the art and foreign language classes after a few months, does have 2 trips planned, but spends her days walking her dog, watching talk shows, and taking a daily afternoon nap.
I am 58, and I don't ever see myself retiring. It's not that I wouldn't have the money to do so, it's that I still feel young, I want to be challenged, I like the structure of working, and I need the social contact.
I see my retirement savings as money to be used if I am unable to continue working at some point.
I have a sign on my refrigerator that says "retirement is a disease to avoid while you are healthy".
Am I the only person to feel this way?
I loved my work, and planned to work until I croaked, but then I "aged out" in Silicon Valley almost twenty years ago. So now I'm retired and I wish I were still working.

I have made a few passes at taking courses, but, although I live near a major university, they did away with their community courses because not enough people signed up. So I really am not using my brain. Online courses are not the same, because they lack interaction with other students and the instructor.

Some friends of mine fill their lives with good works. In the last few years I have developed health issues that make me a bit undependable. That's one thing when my work could be done sitting down and even remotely from home, but it would be another thing to not show up at scheduled times at a non-profit, so I don't sign up because I don't want to leave them in the lurch.

I have not solved this problem. And am open to suggestions.
indexonlyplease
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Re: Anyone planning on never retiring?

Post by indexonlyplease »

FIREchief wrote: Thu Aug 17, 2017 10:40 pm
indexonlyplease wrote: Thu Aug 17, 2017 9:01 pm
I know that not everyone gets the job they love. I just try to tell young people to get a job they will enjoy and get satisfaction from.
Depending upon which young person you're talking to, this could range from good advice to awful advice. Not to pick on musicians, but I have known several young people who decided that since they loved music, they would make it their career. I probably don't need to tell you how that tends to work out.... :annoyed
Very true unless you play for Metallica.
indexonlyplease
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Re: Anyone planning on never retiring?

Post by indexonlyplease »

LiterallyIronic wrote: Fri Aug 18, 2017 9:25 am
indexonlyplease wrote: Thu Aug 17, 2017 7:56 pm
surfstar wrote: Thu Aug 17, 2017 5:49 pm I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday.

I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work.

Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open to donations from all of you who claim you'l never retire. I'll live off your interest, then retire the capitol when i'm gone)

These threads are always perplexing to me. Free time is costly. I would love to purchase more.
I think that is sad. I work for 32 years and enjoyed going to work everyday. I only retired because a financial decision. Not because of the job. I think just like picking the right spouse you need to pick the right job. You will be with both for a long time. Might a well enjoy along the way.
To me, your school of thought is the weird one. "Pick a job you enjoy." That's not a thing. What I don't like about my job is having to be somewhere doing something. And that's every job. What I'm looking forward to in retirement is not having to be anywhere doing anything. Just a wide open schedule with nothing on it. That'd be the life.
You are looking at it wrong. The reaon I tell young people like my college son, pick a career that you enjoy. Studies show people who enjoy there job are very successful in the long run.

Then problem (not sure your age) to many young people think they are going to retire young. They are only dreaming. Example, I retired at 52. If you considered this early (many young people don't) then you will have to work hard for it. I never thought about retiring this young. But the financial oppurtunity come so I took it. But what got me there is where most will not do. For 20 years I work one full time job and 1-2 part time jobs in my career field. That meant working weekends and nights. What did allow me to do. Max out all retirement accounts buy rental property and save a lot of money in my savings account.

So, if you are willing to think this way then you can think about retirement. Then we go back to what I said, pick a job that you enjoy and pays well (added because of FireChief) because you will be there for a long time.
indexonlyplease
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Re: Anyone planning on never retiring?

Post by indexonlyplease »

LiterallyIronic wrote: Fri Aug 18, 2017 9:25 am
indexonlyplease wrote: Thu Aug 17, 2017 7:56 pm
surfstar wrote: Thu Aug 17, 2017 5:49 pm I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday.

I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work.

Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open to donations from all of you who claim you'l never retire. I'll live off your interest, then retire the capitol when i'm gone)

These threads are always perplexing to me. Free time is costly. I would love to purchase more.
I think that is sad. I work for 32 years and enjoyed going to work everyday. I only retired because a financial decision. Not because of the job. I think just like picking the right spouse you need to pick the right job. You will be with both for a long time. Might a well enjoy along the way.
To me, your school of thought is the weird one. "Pick a job you enjoy." That's not a thing. What I don't like about my job is having to be somewhere doing something. And that's every job. What I'm looking forward to in retirement is not having to be anywhere doing anything. Just a wide open schedule with nothing on it. That'd be the life.
Please tell me your age. If you don't like going time to change careers. Because it sound like you are not going anywhere. I am not being harsh I am just trying to get you to understand there is nothing wrong with enjoying you job because it will get you to where you want to be. Retired. But again, might as well enjoy it along the way.
indexonlyplease
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Re: Anyone planning on never retiring?

Post by indexonlyplease »

Many think about retirment and plan their investments this way. Retiring at 65 is alot different than retiring at 50. At both ages you may be financial ready but at 50 there is better change you are not mentally ready. And maybe you feel you are missing something. Then there are the people that always talk about retirement and will make some mistake and then have to go back to work.

So, I would say if you enjoy your job keep working. If you don't like your job plan your finances so you can retire one day. But be real, I hear to many young people taking about retirement way to early in life. They may be really dissapointed when they get there. I idea of retirement is having enough income to live close to the same lifestyle while working. Not having to watch every penny so you can make barely make it.

Like a said in another post, pick the job you enjoy going to because you will be there for a long time.
Last edited by indexonlyplease on Fri Aug 18, 2017 10:53 am, edited 1 time in total.
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