I no longer plan on retiring early

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Streptococcus
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I no longer plan on retiring early

Post by Streptococcus » Fri Oct 25, 2019 3:48 pm

Hello Bogleheads,

I wanna share this « milestone ». I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50. That was the plan.

According to our IPS, number to retire was 2M, spouse wants to keep working for another 10-20 years. Projected expense of 80K was pretty liberal and we could easily go down to 65K. We are currently at 65% of our goal number

Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)

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simplesimon
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Re: I no longer plan on retiring early

Post by simplesimon » Fri Oct 25, 2019 3:58 pm

Any plans for all that extra cash?

MotoTrojan
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Re: I no longer plan on retiring early

Post by MotoTrojan » Fri Oct 25, 2019 4:01 pm

simplesimon wrote:
Fri Oct 25, 2019 3:58 pm
Any plans for all that extra cash?
Sounds like the plan is to work less so there isn’t as much extra cash. I like that plan and wish I could do the same.

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simplesimon
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Re: I no longer plan on retiring early

Post by simplesimon » Fri Oct 25, 2019 4:03 pm

MotoTrojan wrote:
Fri Oct 25, 2019 4:01 pm
simplesimon wrote:
Fri Oct 25, 2019 3:58 pm
Any plans for all that extra cash?
Sounds like the plan is to work less so there isn’t as much extra cash. I like that plan and wish I could do the same.
Yes but the longer the portfolio remains undrawn, the more that can be spent.

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friar1610
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Re: I no longer plan on retiring early

Post by friar1610 » Fri Oct 25, 2019 4:05 pm

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)
That is a very nice position to be in. I think there are many ER aspirants who might consider working more years if they could do it on those terms. I'm fully retired now and have been for a long time but would have likely worked longer if I could have done it like that. Best of luck to you.
Friar1610

Morik
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Re: I no longer plan on retiring early

Post by Morik » Fri Oct 25, 2019 4:16 pm

I find myself going back and forth on this a lot.

My spouse wants to continue working forever (well, until health issues stop her from doing so).

I always envisioned early retirement. I haven't been really tracking 'my number', but if we both continue working til we are 67 (30 years from now), we will have far more money than we need (assuming our income keeps up with inflation but is otherwise static).

One option would be for me to retire early. And while I always envisioned that, I find that on longer vacations I end up bored. Though to be fair, I could probably find some more involving activities to do if I retired, that I wouldn't have time for while working full time....

The other option I consider is changing over to part time, working 3 or 4 days a week. I think this would actually be much better for me--I would continue to have an engaging job, but would also have more free time.

And of course another option would be to just keep working and have a bunch of extra money, though that isn't super appealing to me.

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oldcomputerguy
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Re: I no longer plan on retiring early

Post by oldcomputerguy » Fri Oct 25, 2019 4:20 pm

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become.
If you love what you do, and decide to keep working just because you want to, there's absolutely nothing wrong with that. It sounds like you're in a good place in your life. Congratulations!
"I’ve come around to this: If you’re dumb, surround yourself with smart people; and if you’re smart, surround yourself with smart people who disagree with you." (Aaron Sorkin)

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Tamarind
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Re: I no longer plan on retiring early

Post by Tamarind » Fri Oct 25, 2019 4:23 pm

Morik wrote:
Fri Oct 25, 2019 4:16 pm
I find myself going back and forth on this a lot.

My spouse wants to continue working forever (well, until health issues stop her from doing so).

I always envisioned early retirement. I haven't been really tracking 'my number', but if we both continue working til we are 67 (30 years from now), we will have far more money than we need (assuming our income keeps up with inflation but is otherwise static).

One option would be for me to retire early. And while I always envisioned that, I find that on longer vacations I end up bored. Though to be fair, I could probably find some more involving activities to do if I retired, that I wouldn't have time for while working full time....

The other option I consider is changing over to part time, working 3 or 4 days a week. I think this would actually be much better for me--I would continue to have an engaging job, but would also have more free time.

And of course another option would be to just keep working and have a bunch of extra money, though that isn't super appealing to me.
You could also switch over to non-paying work, assuming that your career skills are in demand on a volunteer basis (whether part or full time). Keep yourself engaged and productive without piling up more extra money.

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BrandonBogle
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Re: I no longer plan on retiring early

Post by BrandonBogle » Fri Oct 25, 2019 4:32 pm

I like this idea. Especially given the approach you plan to take, if your plan changes again and decide that suddenly you do want to step out of the workforce, you aren't really losing the ability to do so. You will continue to be "on track" with this plan.

Personally, I've thought about the same. My ER goal was 45, but I am far more likely to become part-time (my current organization, today, provides full benefits even to part-timers) and enjoy the great free time to do what I wish vs. leaving the workforce entirely. Some of the folks I've worked with did that, including the Op's 3rd phase and they enjoyed both the time away and the time at work. There is serenity in knowing that if you wanted to walk out that door forever, you could.

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Re: I no longer plan on retiring early

Post by Brianmcg321 » Fri Oct 25, 2019 4:38 pm

I was reading a post somewhere in the blogsphere about a guy who was in the FIRE movement. He was really stressed in his job and couldn't wait to retire.

Then once he hit his number, his stress about his job just disappeared. And then he realized he actually liked it. He stated, it was more of the feeling of being "trapped" that was causing him a lot of stress. But now that he could quit whenever he wanted, he chose to stay. Funny how that works like that.
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Morik
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Re: I no longer plan on retiring early

Post by Morik » Fri Oct 25, 2019 4:39 pm

Tamarind wrote:
Fri Oct 25, 2019 4:23 pm
Morik wrote:
Fri Oct 25, 2019 4:16 pm
I find myself going back and forth on this a lot.

My spouse wants to continue working forever (well, until health issues stop her from doing so).

I always envisioned early retirement. I haven't been really tracking 'my number', but if we both continue working til we are 67 (30 years from now), we will have far more money than we need (assuming our income keeps up with inflation but is otherwise static).

One option would be for me to retire early. And while I always envisioned that, I find that on longer vacations I end up bored. Though to be fair, I could probably find some more involving activities to do if I retired, that I wouldn't have time for while working full time....

The other option I consider is changing over to part time, working 3 or 4 days a week. I think this would actually be much better for me--I would continue to have an engaging job, but would also have more free time.

And of course another option would be to just keep working and have a bunch of extra money, though that isn't super appealing to me.
You could also switch over to non-paying work, assuming that your career skills are in demand on a volunteer basis (whether part or full time). Keep yourself engaged and productive without piling up more extra money.
That is also something I've considered--retiring once we have enough to be really confident it won't run out before we die, and doing volunteer work to fill however much time I feel needs filling (either working on open source software/etc, or other volunteering outside my field).

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wander
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Re: I no longer plan on retiring early

Post by wander » Fri Oct 25, 2019 4:40 pm

So you no longer plan to retire early but you want to brag a little bit. It's fine with me. :D

CedarWaxWing
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Re: I no longer plan on retiring early

Post by CedarWaxWing » Fri Oct 25, 2019 4:44 pm

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Hello Bogleheads,

I wanna share this « milestone ». I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50. That was the plan.

According to our IPS, number to retire was 2M, spouse wants to keep working for another 10-20 years. Projected expense of 80K was pretty liberal and we could easily go down to 65K. We are currently at 65% of our goal number

Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)
Good plan... I did something very similar... as did my spouse. No regrets. The key for us was to like our occupations... and to do work we could see value in, with results we cared about over and above the income. Good thinking. We retired in our mid 60s... and when I retired I was the oldest person there.

skis4hire
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Re: I no longer plan on retiring early

Post by skis4hire » Fri Oct 25, 2019 4:44 pm

Congrats! To me this is the "FI" portion of FIRE.
Gain financial independence and then you can work on your terms.
From what I've seen, the MD profession will easily allow you to do this part time work which is a huge benefit not always available in other businesses.

Broken Man 1999
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Re: I no longer plan on retiring early

Post by Broken Man 1999 » Fri Oct 25, 2019 4:54 pm

Brianmcg321 wrote:
Fri Oct 25, 2019 4:38 pm
I was reading a post somewhere in the blogsphere about a guy who was in the FIRE movement. He was really stressed in his job and couldn't wait to retire.

Then once he hit his number, his stress about his job just disappeared. And then he realized he actually liked it. He stated, it was more of the feeling of being "trapped" that was causing him a lot of stress. But now that he could quit whenever he wanted, he chose to stay. Funny how that works like that.
When one hits their number either thru the balance of their retirement account, or by maxing out and vesting in their pension, or a combination of both, the work suddenly becomes much less stressful, for many.

Every day you can go into work and know when you are finished with your day, you can go home, and return the next day, or not.

Such an option is very comforting. At that point the stress should be minimal.

There are those who want to work deep into the years that other people would be retiring, but, working late into the years obviously satisfies some needs of the worker that chooses to hang on. That's OK. A career is very important to many.

I'm far too lazy, and if I could have continued working instead of being disabled, I would have retired at age 55 at the latest.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

mhalley
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Re: I no longer plan on retiring earlyOngrats

Post by mhalley » Fri Oct 25, 2019 4:55 pm

A lot of people are suggesting changing the acronym of FIRE from financial independence, retire early to something else, as many who achieve fi don’t actually retire but start a new chapter in their lives, whether it is changing careers, start a business, work part time, whatever. By working on fire you have broadened your future in many ways that you might not even see right now. Congratulations.

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Re: I no longer plan on retiring early

Post by LadyGeek » Fri Oct 25, 2019 4:58 pm

This thread is now in the Personal Finance (Not Investing) forum (retirement planning). In this case, the plan is to defer.

One very good piece of advice I've heard is that you should never retire from something. You should always retire to something.

Saying this another way - If you don't know what you'll be doing in retirement, hold off. Otherwise, you won't be happy. Conversely, if work is preventing you from doing something (you'd rather be elsewhere), then you should retire.
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Topic Author
Streptococcus
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Re: I no longer plan on retiring early

Post by Streptococcus » Fri Oct 25, 2019 5:19 pm

Morik wrote:
Fri Oct 25, 2019 4:16 pm
I find myself going back and forth on this a lot.

My spouse wants to continue working forever (well, until health issues stop her from doing so).

I always envisioned early retirement. I haven't been really tracking 'my number', but if we both continue working til we are 67 (30 years from now), we will have far more money than we need (assuming our income keeps up with inflation but is otherwise static).

One option would be for me to retire early. And while I always envisioned that, I find that on longer vacations I end up bored. Though to be fair, I could probably find some more involving activities to do if I retired, that I wouldn't have time for while working full time....

The other option I consider is changing over to part time, working 3 or 4 days a week. I think this would actually be much better for me--I would continue to have an engaging job, but would also have more free time.

And of course another option would be to just keep working and have a bunch of extra money, though that isn't super appealing to me.
This is one of the reason why I realized I no longer wanted to retire early: I take a full month vacation every year and realized that vacations are more enjoyable when they are stuck in between work. The cycle work - vacation - work - vacation make both more rewarding.
Work without vacation? Draining!
Vacation without work? Boring, demotivating and in the end, draining
This is the « epiphany » that I have personally realized and I wanted to share with the group.
When I come back from vacation, I am re-energized and motivated to work and at the same time, I slowly start planning for the next vacation. This is what, to me makes life happy.

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steve roy
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Re: I no longer plan on retiring early

Post by steve roy » Fri Oct 25, 2019 5:34 pm

I nursed a similar plan to retire early.

But in my case, life kept getting in the way: putting a kid through school; working to max out accounts (etc.). And when the dust cleared, there I was at 68, finally hanging it up. I don't regret doing those extra years. My job was always interesting (even though stressful), and I was able to pace myself -- taking only a few weeks off per year but merging business trips with vacations.

As Mrs. Steve Roy and I neared our respective finish lines, we knew the time was right: she was tired of dealing with less-than-optimum work issues, and my job was getting progressively busier (and when you're nearing age seventy, "busier" is not your #1 lifestyle choice). We pulled our respective plugs within six months of each other, grabbed our "okay" but not great pensions, sold our primary residence at the top of the So Cal real estate market (which was dumb luck). We moved to a previously-purchased house in a nearby state, and now do a LOT of traveling. (Our motto: front-load the jaunts around the globe, because you won't be doing them during your wheelchair and drool cup years.)

Stay flexible about when you want to retire. When the time is right, you'll know it.
Last edited by steve roy on Sat Oct 26, 2019 1:22 pm, edited 1 time in total.

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Re: I no longer plan on retiring early

Post by FireHorse » Fri Oct 25, 2019 5:45 pm

It's a good plan only if it works for you :happy

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Re: I no longer plan on retiring early

Post by bloom2708 » Fri Oct 25, 2019 5:47 pm

We make plans. God laughs.

Worry about today. Never retire is no more a sure bet than retiring very early.

With our Western Diets, health is not guaranteed. I no longer plan on dying. We'll see what happens. :mrgreen:
Last edited by bloom2708 on Mon Oct 28, 2019 9:39 am, edited 1 time in total.
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Re: I no longer plan on retiring early

Post by coffeeblack » Fri Oct 25, 2019 6:10 pm

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Hello Bogleheads,

I wanna share this « milestone ». I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50. That was the plan.

According to our IPS, number to retire was 2M, spouse wants to keep working for another 10-20 years. Projected expense of 80K was pretty liberal and we could easily go down to 65K. We are currently at 65% of our goal number

Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)
Once you reach your number you can do almost anything you want. Working part time as you suggest after the first 5 years is ideal as long as you still like what you do in 5 years or 10. Good luck.

I think taking vacation and then have a couple of days off before going back to work is ideal.

Small Savanna
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Re: I no longer plan on retiring early

Post by Small Savanna » Fri Oct 25, 2019 6:15 pm

We are also at the point where work isn't mandatory, but we're not quite ready to retire. Definitely plan to work at least a couple more years, then take it one year at a time. It's great that you have the option to cut back hours rather than just stop altogether. Not many careers offer that level of flexibility.

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Re: I no longer plan on retiring early

Post by Starfish » Fri Oct 25, 2019 7:09 pm

bloom2708 wrote:
Fri Oct 25, 2019 5:47 pm
We make plans. God laughs.

Worry about today. Never retire is no more a sure bet than retiring very early.

With our Western Diets, health is not guaranteed.
Diet is the easiest thing to change. Western diets are not some kind of immutable fatality. Besides, France, Italy, Spain, scandinavian countries are all western countries and very good life expectancy. So what is a western diet?
Unfortunately health is not guaranteed with any diet.

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Re: I no longer plan on retiring early

Post by tibbitts » Fri Oct 25, 2019 7:34 pm

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Hello Bogleheads,

I wanna share this « milestone ». I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50. That was the plan.

According to our IPS, number to retire was 2M, spouse wants to keep working for another 10-20 years. Projected expense of 80K was pretty liberal and we could easily go down to 65K. We are currently at 65% of our goal number

Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)
That's nice but surey you realize that only a tiny percentage of people have the options for the work flexibility you describe. My father, a surgeon, found an excellent post-private-practice goverment job for himself in his late-50s, but it was (usually) 5 days a week with the usual 3 weeks of vacation to start, 4 after a while.
Last edited by tibbitts on Fri Oct 25, 2019 7:59 pm, edited 1 time in total.

Golf maniac
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Re: I no longer plan on retiring early

Post by Golf maniac » Fri Oct 25, 2019 7:37 pm

I am glad you found a way to do what you love. I was happy in my job until the last 5 years. I was very lucky to be able to retire at 56. Today I am 4 years into retirement and loving it. Either way it is good to be financially in a position to have a choice and not have to continue working.

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Re: I no longer plan on retiring early

Post by JGoneRiding » Sat Oct 26, 2019 12:44 am

MotoTrojan wrote:
Fri Oct 25, 2019 4:01 pm
simplesimon wrote:
Fri Oct 25, 2019 3:58 pm
Any plans for all that extra cash?
Sounds like the plan is to work less so there isn’t as much extra cash. I like that plan and wish I could do the same.
I have excepted a similar plan for myself. Though retire at 50 never an option as I am "just" a dvm. But I would rather work a little for a long time than a lot than nothing.

Still hate oncall.

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Re: I no longer plan on retiring early

Post by MathIsMyWayr » Sat Oct 26, 2019 3:39 am

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50.
...
Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround.
You were swept by the fad that early retirement is a badge of honor. Apparently being a physician is your lifelong passion. Realistically speaking, how many such lifelong passions do you expect to find? Many will envy you not because of you being within reach of RE, but because of you keeping a lifelong passion.

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Re: I no longer plan on retiring early

Post by climber2020 » Sat Oct 26, 2019 4:47 am

There’s definitely a benefit to financial independence even without retiring early. I’m not completely there yet but after hitting a certain number, my stress level went down considerably.

Two things that may still make me retire early though: being on call on the weekends and the ever present lawsuit risk. Taking after hours call has always been the most unpleasant part of my job since day one of residency, and I look forward to never again having to talk to a patient on a Saturday.

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Re: I no longer plan on retiring early

Post by CZjc1330 » Sat Oct 26, 2019 5:34 am

First of all Congratulations on reaching a goal and adjusting to a new reality! Goals are great and I encourage them. But one must remain flexible. Times and circumstances change.

'Tis true when one is truly financially independent one is liberated and goals frequently change. A blessed state of affairs.

Your moniker "Streptococcus" transported me back to Biology 101! Always loved that word.

bltn
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Re: I no longer plan on retiring early

Post by bltn » Sat Oct 26, 2019 5:50 am

I believe most will know when they re ready to retire. Whether they have planned post retirement activities or not. The amount saved will be a small part of of this decision. The other factors will include the mental and physical stress associated with the job. As one ages, these components will increase.
Part time work in a gratifying job is a good way to transition into retirement.

67Bosox
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Re: I no longer plan on retiring early

Post by 67Bosox » Sat Oct 26, 2019 6:38 am

A friend is an airline pilot with high seniority. He used to bid for many flights per month. He doesn't want to retire, yet. So he now bids for just two or three trips total per month, at 48 hour door-to-door duration from leaving his house and return. Spends the rest of each month at home, working on projects, gardening, reading, travel with wife or friends, etc. He calls it, "practicing" for retirement. Sounds like some physicians are lucky enough to have a similar "glide path" to retirement.

Xrayman69
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Re: I no longer plan on retiring early

Post by Xrayman69 » Sat Oct 26, 2019 7:49 am

OP, I suspect your patients are better off as well having a provider who wants to be there as opposed to has to be there.

Congrats on the achievement. What a wonderful feeling it must be to now go into the office with a refreshed view.

flyingaway
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Re: I no longer plan on retiring early

Post by flyingaway » Sat Oct 26, 2019 8:07 am

simplesimon wrote:
Fri Oct 25, 2019 3:58 pm
Any plans for all that extra cash?
I just spend the extra money in casinos, and I am serious.

flyingaway
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Re: I no longer plan on retiring early

Post by flyingaway » Sat Oct 26, 2019 8:26 am

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Hello Bogleheads,

I wanna share this « milestone ». I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50. That was the plan.

According to our IPS, number to retire was 2M, spouse wants to keep working for another 10-20 years. Projected expense of 80K was pretty liberal and we could easily go down to 65K. We are currently at 65% of our goal number

Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)
When you are there, you may have a different thought.
I used to love my work (professor). I am FI and consider myself semi-retired. I no longer love my job, but I am evaluating my situation on a every 6 month basis, sort of One More Year.

bloom2708
Posts: 6976
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Location: Fargo, ND

Re: I no longer plan on retiring early

Post by bloom2708 » Sat Oct 26, 2019 8:54 am

Starfish wrote:
Fri Oct 25, 2019 7:09 pm
bloom2708 wrote:
Fri Oct 25, 2019 5:47 pm
We make plans. God laughs.

Worry about today. Never retire is no more a sure bet than retiring very early.

With our Western Diets, health is not guaranteed.
Diet is the easiest thing to change. Western diets are not some kind of immutable fatality. Besides, France, Italy, Spain, scandinavian countries are all western countries and very good life expectancy. So what is a western diet?
Unfortunately health is not guaranteed with any diet.
Highly processed, salt, fat, added sugar, oils, meat, cheese. These are the staples. 2/3 are overweight. 1/3 obese in the US.
"People want confirmation, not advice" Unknown | "We are here to provoke thoughtfulness, not agree with you" Unknown | Four words. Whole food, plant based. Bing it.

StealthRabbit
Posts: 450
Joined: Sat Jun 13, 2009 1:25 am

Re: I no longer plan on retiring early

Post by StealthRabbit » Sat Oct 26, 2019 9:20 am

Plan 'D" for me...
Retire early, retire often

1) you might not get it right the first time.
2) too much fun to do only once
3) ER offers a LOT of opportunities (more free time to find interests and a LOT more people are interested in you (working for them).
4) Skills / certs are worth keeping current. (they are not making anymore of YOU, and current generations are not keen on acquiring or using skills or getting their hands dirty)
5) Work can be fun (I had a very fun job for 30+ yrs but was FIRED pre age 50.
6) Options... there will be plenty if you are engaged in people / community / industry / international needs

Single earner family (low income night shift factory worker). Dear Spouse terminated employment on the honeymoon and has had NO interest in returning to workforce. Good thing I like to work, always had 3+ jobs (or businesses) at once.

I can't imagine the benefit of dual income, especially dual SSA!!!, But... it would all go to DAF (as will our estate).
Kids can figure out how to survive on their own, we equipped them to do so. (they have been gone from home 20+ yrs so it must be working out for them).

Loved working hard and playing hard. Took many sabbaticals (yr without pay). Sometimes pursued financial gain (building homes and commercial properties in my free time).

Tough to beat the $500k income tax free gains every 24 months (Primary residence sale). Neighbor has done that 9x.

Will do that a few times during retirement. (usually converting Residential property to Commercial zoning and selling to a developer.
a) Buy a junker home on a busy intersection.
b) Change your addy / put up a mailbox
c) Set up rezoning (takes a couple yrs)
d) Find a buyer for when property gets zoned commercial
e) Schedule selling / closing for 24+ months
f) Go traveling for 2 yrs
g) come 'home' and collect the proceeds

repeat as necessary (Something to do in retirement)

z3r0c00l
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Re: I no longer plan on retiring early

Post by z3r0c00l » Sat Oct 26, 2019 9:23 am

A great counterpoint to the recent FIRE fad. I suspect most people in the FIRE movement a, don't have a plan on what to do after retirement, b, have no idea how much money early retirement requires, and c, can't really predict what they will want in their 50's while in their 20's. For most, it could make sense to shift to a new gear later in their career to a job that is more rewarding or less demanding of your time.

Wricha
Posts: 501
Joined: Sun Mar 25, 2012 10:33 am

Re: I no longer plan on retiring early

Post by Wricha » Sat Oct 26, 2019 9:27 am

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Hello Bogleheads,

I wanna share this « milestone ». I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50. That was the plan.

According to our IPS, number to retire was 2M, spouse wants to keep working for another 10-20 years. Projected expense of 80K was pretty liberal and we could easily go down to 65K. We are currently at 65% of our goal number

Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)
Don’t discount the possibility of doing another 180. Energy levels change as you get older and the need for things, status and power begin to wane as you prepare for the journey back home.

StealthRabbit
Posts: 450
Joined: Sat Jun 13, 2009 1:25 am

Re: I no longer plan on retiring early

Post by StealthRabbit » Sat Oct 26, 2019 9:38 am

Wricha wrote:
Sat Oct 26, 2019 9:27 am

Don’t discount the possibility of doing another 180. Energy levels change as you get older and the need for things, status and power begin to wane as you prepare for the journey back home.
Yes... and a few 360's "Merry-go-round'

Energy level (+/-)
Leveraged buy-outs
Severance incentives (One 'retired' friend has done 5 of those $$$$) ( have done 3x)
Boss from hxll
Health issues
Family issues (caregiving for spouse or kids or parents or neighbors)
Interests - Travel / career
Opportunities (I went back for a Masters program post age 50) FREE!
Reality Checks... "Hey, why am I doing this?"
Changing priorities (Life or death experience...)

I consider GUMBY as a good role model (Flexible) as life has never really gone as planned... not even close.

TheNightsToCome
Posts: 452
Joined: Fri Jun 30, 2017 11:48 pm

Re: I no longer plan on retiring early

Post by TheNightsToCome » Sat Oct 26, 2019 9:41 am

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Hello Bogleheads,

I wanna share this « milestone ». I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50. That was the plan.

According to our IPS, number to retire was 2M, spouse wants to keep working for another 10-20 years. Projected expense of 80K was pretty liberal and we could easily go down to 65K. We are currently at 65% of our goal number

Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)
"For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time"

I'm also a physician. How is it that you have such control over your work schedule?

I'm currently employed and I could not enact your plan. If I tried to enact your plan when I was in private practice, my overhead would have remained constant while revenue declined and there would have been no one to take care of my patients when I wasn't working.

An ER doc can reduce hours at will, but you must not be in the ER if you're working 5 days/week now. So how are you able to arrange this?

User avatar
goodenyou
Posts: 2022
Joined: Sun Jan 31, 2010 11:57 pm
Location: Skating to Where the Puck is Going to Be..or on the golf course

Re: I no longer plan on retiring early

Post by goodenyou » Sat Oct 26, 2019 11:14 am

Starfish wrote:
Fri Oct 25, 2019 7:09 pm
bloom2708 wrote:
Fri Oct 25, 2019 5:47 pm
We make plans. God laughs.

Worry about today. Never retire is no more a sure bet than retiring very early.

With our Western Diets, health is not guaranteed.
Diet is the easiest thing to change. Western diets are not some kind of immutable fatality. Besides, France, Italy, Spain, scandinavian countries are all western countries and very good life expectancy. So what is a western diet?
Unfortunately health is not guaranteed with any diet.
The good thing for me is that I consume a Mediterranean diet since that is both my wife’s and my culture. The problem is that when I eat a Mediterranean diet, I eat enough for 3. :oops:
"Ignorance more frequently begets confidence than does knowledge" | Do you know how to make a rain dance work? Dance until it rains.

Chicken Little
Posts: 76
Joined: Fri Feb 22, 2019 5:03 am

Re: I no longer plan on retiring early

Post by Chicken Little » Sat Oct 26, 2019 11:26 am

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
I actually plan on working into my 70s.
Congratulations?

User avatar
ClevrChico
Posts: 1559
Joined: Tue Apr 03, 2012 8:24 pm

Re: I no longer plan on retiring early

Post by ClevrChico » Sat Oct 26, 2019 11:27 am

I think interest in FIRE in the USA is tied to our long hours and poor vacation policies.

When I stopped working weekends and on-call, my interest in FIRE decreased a lot. I'm sure I'm giving up some salary, but work life balance is worth more.

protagonist
Posts: 6049
Joined: Sun Dec 26, 2010 12:47 pm

Re: I no longer plan on retiring early

Post by protagonist » Sat Oct 26, 2019 12:13 pm

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Hello Bogleheads,

I wanna share this « milestone ». I have pursued early retirement for the past 6-7 years and If things go smoothly, I should hit my number in 3-4 years, and retire prior to hitting 50. That was the plan.

According to our IPS, number to retire was 2M, spouse wants to keep working for another 10-20 years. Projected expense of 80K was pretty liberal and we could easily go down to 65K. We are currently at 65% of our goal number

Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:

So I Adjusted my IPS:
No more early retirement.
For the next 5 years - I will work 4 days a week, take at least 7 weeks off per year. No more long hours
Then the next 5 years - I will work 3 days a week, take 12 weeks off
Then indefinitely, I will only work 6 months a year. It will be consecutively or part-time

Suddenly, owing to the unexpected future income, our current financial situation looks pretty good 8-)
Retired MD here, and a firm believer in chaos theory.
As a function of time the noise increases dramatically relative to the signal.
You have already experienced this. Your initial plan was to retire by 50, and now you are planning to work into your 70s. If somebody told you that in the past you would have probably laughed in their face.
Your plan to work 4 days a week for now sounds like a good one for you.
5 years from now your life may be very different. Who knows what you will do for the next five after that?
And indefinitely after your ten year target? That is little more than a fantasy now.
Enjoy your current plan. It's comforting to have a long range plan as well, but don't take it too seriously.
The future is....well....the future.

shess
Posts: 275
Joined: Wed May 17, 2017 12:02 am

Re: I no longer plan on retiring early

Post by shess » Sat Oct 26, 2019 1:12 pm

Streptococcus wrote:
Fri Oct 25, 2019 3:48 pm
Problem is, for the past year, I have been realizing that the goal to retire early was just a competitive achievement for me. It was not something that I felt inside. I love my job and probably would not give up being an MD, something that I worked my whole life to become. I actually plan on working into my 70s. Talk about a complete 180 degree turnaround. :oops:
My dentist sold his practice to another dentist, but stayed on seeing his patients for many years. Due to natural churn, his proportion of the overall patients naturally declined over time, so he was able to keep up with it on a reduced schedule, and of course he was no longer dealing with overhead and the like. He seemed really happy with the situation.

I do think that the decline in his energy levels were pretty noticeable as he went from mid-60's to early 70's (my estimate). He was healthy, he was just getting older. So make sure you keep your timing plans at the pencil stage, with backups. I've noticed with a lot of my parents' generation that they seem to want to keep working until one day something flips their bit and then they start wanting to retire. Anecdotally, it seems to correlate with a really hard push at work, where afterwards they realize "Why am I doing this, again?"

flyingaway
Posts: 2539
Joined: Fri Jan 17, 2014 10:19 am

Re: I no longer plan on retiring early

Post by flyingaway » Sat Oct 26, 2019 1:21 pm

z3r0c00l wrote:
Sat Oct 26, 2019 9:23 am
A great counterpoint to the recent FIRE fad. I suspect most people in the FIRE movement a, don't have a plan on what to do after retirement, b, have no idea how much money early retirement requires, and c, can't really predict what they will want in their 50's while in their 20's. For most, it could make sense to shift to a new gear later in their career to a job that is more rewarding or less demanding of your time.
You have to know more about FIRE movement. Most of the FIREes are working on blogs to make money.

tibbitts
Posts: 9374
Joined: Tue Feb 27, 2007 6:50 pm

Re: I no longer plan on retiring early

Post by tibbitts » Sat Oct 26, 2019 1:34 pm

67Bosox wrote:
Sat Oct 26, 2019 6:38 am
A friend is an airline pilot with high seniority. He used to bid for many flights per month. He doesn't want to retire, yet. So he now bids for just two or three trips total per month, at 48 hour door-to-door duration from leaving his house and return. Spends the rest of each month at home, working on projects, gardening, reading, travel with wife or friends, etc. He calls it, "practicing" for retirement. Sounds like some physicians are lucky enough to have a similar "glide path" to retirement.
Very few employers could afford to provide full-time employee benefits and other overhead for a few hours a month.

As I mentioned my father left private pactice partly because, at least at that time, malpractice insurance didn't scale to the amount of work being done, so cutting back dramatically on surgery didn't cut back dramatically on insurance costs. So in that case, the "employer" (himself) couldn't afford to carry an employee with such a light load.

rj342
Posts: 590
Joined: Tue Apr 30, 2019 12:21 pm

Re: I no longer plan on retiring early

Post by rj342 » Sat Oct 26, 2019 1:39 pm

flyingaway wrote:
Sat Oct 26, 2019 1:21 pm
z3r0c00l wrote:
Sat Oct 26, 2019 9:23 am
A great counterpoint to the recent FIRE fad. I suspect most people in the FIRE movement a, don't have a plan on what to do after retirement, b, have no idea how much money early retirement requires, and c, can't really predict what they will want in their 50's while in their 20's. For most, it could make sense to shift to a new gear later in their career to a job that is more rewarding or less demanding of your time.
You have to know more about FIRE movement. Most of the FIREes are working on blogs to make money.
Blogs about FIRE. Limited market.

z3r0c00l
Posts: 1502
Joined: Fri Jul 06, 2012 11:43 am
Location: NYC
Contact:

Re: I no longer plan on retiring early

Post by z3r0c00l » Sat Oct 26, 2019 1:44 pm

flyingaway wrote:
Sat Oct 26, 2019 1:21 pm
z3r0c00l wrote:
Sat Oct 26, 2019 9:23 am
A great counterpoint to the recent FIRE fad. I suspect most people in the FIRE movement a, don't have a plan on what to do after retirement, b, have no idea how much money early retirement requires, and c, can't really predict what they will want in their 50's while in their 20's. For most, it could make sense to shift to a new gear later in their career to a job that is more rewarding or less demanding of your time.
You have to know more about FIRE movement. Most of the FIREes are working on blogs to make money.
Right, i.e. the same self-help nonsense with a new wrapper. I learned enough about FIRE to know it interests me about as much as FYRE. Lots of the stories have people saving $1 million by 30 and then retiring as if that will ever work out mathematically.

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