Why retire?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Topic Author
nydoc
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Why retire?

Post by nydoc » Sat Jan 18, 2020 6:23 pm

Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.

clown
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Re: Why retire?

Post by clown » Sat Jan 18, 2020 6:26 pm

Assuming you have 20-25 years before retirement, the nature of the industry or job hold may change and you may not like the new landscape. That's what happened to me. The job changed from analytical skills to sales skills, and that is not what I am good at.

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HomerJ
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Re: Why retire?

Post by HomerJ » Sat Jan 18, 2020 6:30 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement a lucrative aim?
Answers will help me plan more critically about the retirement.
Thank you.
Heh, as a doctor, you don't see any differences as people age?

But health reasons aside, if you love EVERYTHING about your job, there's no need to ever retire.

But even if you like most parts of your job, there will be times when you are sitting in another meeting or doing paperwork and you'll look out the window and see a beautiful day and maybe you'll wonder... "Hmm.. is there really nothing I'd rather do right now?"

(This is assuming you have a cushy job where you are sitting most of the day and can occasionally glance out windows - that's not true for many many people)
A Goldman Sachs associate provided a variety of detailed explanations, but then offered a caveat, “If I’m being dead-### honest, though, nobody knows what’s really going on.”

sambb
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Re: Why retire?

Post by sambb » Sat Jan 18, 2020 6:33 pm

there seem to be many people who are ready to leave their job. i really enjoy mine, and have no problem to keep working, even if reaching my financial goals. i just like it!

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HomerJ
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Re: Why retire?

Post by HomerJ » Sat Jan 18, 2020 6:33 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Answers will help me plan more critically for the retirement.
One more thing...

Even if you don't think you'll want to retire at 50, 55, or 60, I'd still try to save that way. Being financially independent at those ages doesn't mean you HAVE to quit, but having the option is very good.

If nothing else, you can keeping working, doing jobs that you really enjoy at that point.
A Goldman Sachs associate provided a variety of detailed explanations, but then offered a caveat, “If I’m being dead-### honest, though, nobody knows what’s really going on.”

GiannaLuna
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Re: Why retire?

Post by GiannaLuna » Sat Jan 18, 2020 6:34 pm

I feel good at my work and life seems comfortable.

Some things you cannot understand until you experience them personally. Hold onto your post fo r another decade or two, lol.

If the tide of people older than you wasn't swimming in the other direction, you could be an anomaly one day, but I am going to bet against that.

For now? enjoy weedhopper lol.

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willthrill81
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Re: Why retire?

Post by willthrill81 » Sat Jan 18, 2020 6:36 pm

While I enjoy my career, there are many other things that I would rather be doing.

As a physician, you probably have a more secure job than most. However, physical ailments, including those that afflict family members, can easily lead to involuntary retirement. About half of current retirees got that way involuntarily.

Importantly, you don't want to find yourself suddenly wanting or needing to retire down the road but not being able to do so. My father, who worked as pharmacist, had many coworkers making solid six-figure incomes who couldn't retire because (1) they didn't save enough and (2) their adult children (and their grandchildren) were receiving what Thomas Stanley called 'economic outpatient care'.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

Topic Author
nydoc
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Re: Why retire?

Post by nydoc » Sat Jan 18, 2020 6:40 pm

Some things you cannot understand until you experience them personally.

That’s the reason for my question.

quantAndHold
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Re: Why retire?

Post by quantAndHold » Sat Jan 18, 2020 6:41 pm

One of my friends just retired at age 79. She loved what she did, was still productive, and saw no reason to quit.

I liked my job enough, but started having health issues in my early 50’s, partly related to job stress. I also knew coworkers that had major stress related health problems in their 50’s that left them permanently disabled. I saw I was heading that way, and didn’t want to go there.

Also, my wife is quite a bit older than I am, and I wanted to travel with her while we were both still in good health.

No regrets. Retirement has been a blast.
Yes, I’m really that pedantic.

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willthrill81
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Re: Why retire?

Post by willthrill81 » Sat Jan 18, 2020 6:42 pm

HomerJ wrote:
Sat Jan 18, 2020 6:33 pm
Even if you don't think you'll want to retire at 50, 55, or 60, I'd still try to save that way. Being financially independent at those ages doesn't mean you HAVE to quit, but having the option is very good.
Those with the financial means to do so, which almost any physician should possess, should aim to become financially independent no later than age 60 IMHO. There are too many things that can derail someone from retiring at age 67 (it seems that SS's FRA is a common goal for many). One's own health, family members' health, poor returns in the years leading up to retirement, being laid off or forced by an employer to do what you really don't want to, interruptions to one's savings along the way, etc.

'When you save, you're rewarding your future self.'
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

Longdog
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Re: Why retire?

Post by Longdog » Sat Jan 18, 2020 6:44 pm

The landscape of your industry could change enough such that the frustrations outweigh the feelings of satisfaction.
Your own values or interests could change.
You or a family member’s health or life situation could change either gradually or suddenly.

I’m reminded of the lyrics from an Alanis Morissette song:

You live you learn, you love you learn
You cry you learn, you lose you learn
You bleed you learn, you scream you learn
Steve

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willthrill81
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Re: Why retire?

Post by willthrill81 » Sat Jan 18, 2020 6:44 pm

nydoc wrote:
Sat Jan 18, 2020 6:40 pm
Some things you cannot understand until you experience them personally.

That’s the reason for my question.
I strongly urge you to go to www.whitecoatinvestor.com and read that site extensively. It's crafted by a physician for physicians. Burnout among physicians is very common.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

Naismith
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Re: Why retire?

Post by Naismith » Sat Jan 18, 2020 6:51 pm

We're in our mid-60s. There are days that I wonder how we ever had time to work for money....

Immediately after stopping work for pay, we took 1.5 years to give back by serving a mission for our church in a foreign country. Since returning home, we are very involved with family, supporting grandkids in their various endeavors (concerts, competition, plays, etc.) and elder care.

We are involved in various civic organizations, and I do have a health condition that requires a certain amount of maintenance (sacroiliac joint, at least an hour of exercise every day.)

We are looking forward to some month-long trips, whereas we could never do more than 2 weeks when employed.

My career has the opportunity for some project-by-project engagements, so I may do some of that in the future. But right now we are enjoying the opportunities at hand.

We also like being able to have our main meal together in the middle of the day, which was not possible when in different places. It has helped with the weight and energy.

FI4LIFE
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Re: Why retire?

Post by FI4LIFE » Sat Jan 18, 2020 6:54 pm

I had my first taste of what a chronic health condition is like at 35. At the time, I had a wife, two children and another on the way. I was (irrationally) concerned that I may no longer be able to continue with my career and began (again irrationally) envisioning my future self as someone unable to provide for my family. It was a scary feeling at the time. I was already a saver but this encouraged me to elevate my savings rate because good health is not a guarantee.

The future is unknown for all of us and I want to have options. I don't want to wait for another health problem to spring up and retire a beat down old man. When I turn 50, I want to be able to decide if I've had enough of my job to slow it down or retire altogether.

Perhaps you have freedom in your career, but I do not enjoy being a slave to a work schedule. Even if I loved my job that would bother me.

MathWizard
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Re: Why retire?

Post by MathWizard » Sat Jan 18, 2020 6:56 pm

Sometimes circumstances force your retirement.

In some cases, you may be running from a boss who is difficult/impossible to work for.

In other cases, you have better things to do with your time.
Ultimately, time is the only thing that is important.

poker27
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Re: Why retire?

Post by poker27 » Sat Jan 18, 2020 7:02 pm

I’ve been working professionally for about 14 years, and dread waking up every morning for my commute to the office. Being able to decide when to wake up, how to use my brain power, and do exactly what I want has me yearning to ‘retire’. To each their own

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whodidntante
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Re: Why retire?

Post by whodidntante » Sat Jan 18, 2020 7:12 pm

It just takes a huge pile of securities to stop working entirely at a young age, especially living in the USA where health care costs are a serious cashflow drag and going without insurance can bankrupt you. Most decent full-time jobs include health insurance support. I like the hunt and I like working but would also like financial independence, so I have the possibility of different scenarios. Actual 100% retirement will probably be forced due to health issues. Unless you drop dead while still in the workforce, you'll retire too someday.
Last edited by whodidntante on Sat Jan 18, 2020 7:13 pm, edited 1 time in total.

sport
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Re: Why retire?

Post by sport » Sat Jan 18, 2020 7:12 pm

One important answer to this question is STRESS. Every job has some level of stress, some more than others. Even the requirement to be at work on time causes stress. Commuting is stressful. Management causes stress, and customers (patients) cause stress. Co-workers and colleagues can cause stress. Retirement is a freedom from all of these work-related stressors. Living a mostly stress free life is a wonderful existence. Stress is not only unpleasant, it is bad for your health, both mental and physical. I have been retired for 15 years and have absolutely no desire to ever go back to work.

KATNYC
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Re: Why retire?

Post by KATNYC » Sat Jan 18, 2020 7:14 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
My dad is 70 & still hasn't retired. He loves his job.
That is not the case for many people.

A good friend put in 2 weeks yesterday after 20 years at a law firm.
It all depends on if you like your job (boss/colleagues/commute) or hate going to work every day.

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abuss368
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Re: Why retire?

Post by abuss368 » Sat Jan 18, 2020 7:14 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
You may want to consider: http://www.whitecoatinvestor.com/
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

adamthesmythe
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Re: Why retire?

Post by adamthesmythe » Sat Jan 18, 2020 7:15 pm

Having been through this (I retired at 66) I don't regret not retiring earlier. But I would not have liked to retire later. By working to a normal retirement age, I did not have high health care insurance costs to fund. And I accumulated enough $ that I have plenty to live on and plenty for entertainment and travel. Minimally funding a long retirement would not have been attractive.

As far as enjoying the work is concerned...I continued to like SOME aspects of my job until I retired (in fact I still do some technical things, so I guess I am semi-retired). I became aware of other aspects of the job that were not enjoyable and indeed tedious and annoying. That helped to push the balance toward retirement when it became financially reasonable.

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Cheez-It Guy
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Re: Why retire?

Post by Cheez-It Guy » Sat Jan 18, 2020 7:16 pm

This question is sort of ridiculous. Does the OP really think everyone has a comfortable life and loves their job? This is a humblebrag, or someone who cannot relate to others, or both.

tph090
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Re: Why retire?

Post by tph090 » Sat Jan 18, 2020 7:17 pm

To me the goal should not be "retirement" but "the choice to retire or to work or to do some individually customized combination of the two." When we reached FI, it changed my whole mindset. It changes the things you will put up with, the people you suck up to versus peaceably ignore, etc. In Emerson's words, it gives you "the nonchalance of boys who are sure of a dinner."

I also follow the ethos of "good things happen to people who don't need them." When you're not doing something out of necessity, new opportunities in entirely new areas will present themselves.

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Clever_Username
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Re: Why retire?

Post by Clever_Username » Sat Jan 18, 2020 7:18 pm

TA, I'm a little younger than you are, but not by much. Twice in my life I had a job I loved until I didn't love it anymore. Both times I left for a job I preferred, one of which resulted in getting to where I am now. One reason to save for financial independence is to have the ability to walk away from your job if you choose to do so. Another reason is in case you are forced to do so, such as by health or family concerns.
"What was true then is true now. Have a plan. Stick to it." -- XXXX, _Layer Cake_ | | I survived my first downturn and all I got was this signature line.

Trader Joe
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Re: Why retire?

Post by Trader Joe » Sat Jan 18, 2020 7:20 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
The human body ages (degrades). Both physically and mentally. This is a fact.

If you are a NY doctor you should be aware of this.

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cowdogman
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Re: Why retire?

Post by cowdogman » Sat Jan 18, 2020 7:29 pm

I felt the same at 38, and at 48. At 58? Not so much.

Plus "retirement" now often means a career change, going part-time, starting a business, going back to school to re-train, etc.--not sitting at home watching TV. And the world is likely to be very different place when you turn 60. Your question is a good one, but future (unknown) real world events and your changing attitude as you age make it impossible to predict how you will feel and what your options will be in 20+ years. I never looked more than 5 years in the future (altho I have always saved and invested as if I was going to retire at 60 and live to 125).

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Sandtrap
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Re: Why retire?

Post by Sandtrap » Sat Jan 18, 2020 7:33 pm

I enjoyed my profession and I likely would not have retired but for health issues.
There’s no reason to retire if you have a passion for your profession even if already financially secure.

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livesoft
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Re: Why retire?

Post by livesoft » Sat Jan 18, 2020 7:34 pm

The young trophy wife wants to travel and see the world with or without you.
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SCV_Lawyer
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Re: Why retire?

Post by SCV_Lawyer » Sat Jan 18, 2020 7:35 pm

sport wrote:
Sat Jan 18, 2020 7:12 pm
One important answer to this question is STRESS. Every job has some level of stress, some more than others. Even the requirement to be at work on time causes stress. Commuting is stressful. Management causes stress, and customers (patients) cause stress. Co-workers and colleagues can cause stress. Retirement is a freedom from all of these work-related stressors. Living a mostly stress free life is a wonderful existence. Stress is not only unpleasant, it is bad for your health, both mental and physical. I have been retired for 15 years and have absolutely no desire to ever go back to work.
I think this is my main motivator. I'm a partner in BigLaw and am typically running numerous transactions, each in the 9 to 10 digit dollar amounts. I'm responsible and accountable to the clients, responsible for overseeing associates and staff and have client development, mangerial and administrative obligations. I work with clients on both coasts, so I am up very early and in bed often late. That adds up to a fair amount of stress. I once heard someone say, "I don't hate my job, I just hate work." That sums it up for me. I work with great people, have mostly good clients and am fortunate to have grown into very generous comp. I don't dread going to work, but there are a 1,000 other things I would rather be doing. And I'm getting tired of the daily stress and the daily grind. Fortunately, I am down to a few years left, planning on being done by 54.

Topic Author
nydoc
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Re: Why retire?

Post by nydoc » Sat Jan 18, 2020 7:39 pm

Does the OP really think everyone has a comfortable life and loves their job?

No. Not at all. Actually my life overall was not very comfortable so far. Also this post is to help my situation where I would like to know and learn from others experiences.

atlblaze
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Re: Why retire?

Post by atlblaze » Sat Jan 18, 2020 7:53 pm

Many if not most people do NOT love their job. It's a grind. People refer to it as the rat race, etc. People work because they must to survive, to provide for themselves and their family, to put food on the table, etc. Add onto that years of stress, wear and tear on your body, possibly long commutes, dealing with difficult customers/bosses/clients -- uhh yeah, after decades of that, you want OUT.

If you happen to love what you do and don't want to retire, that's great... but why you seem think that might translate to everyone else is crazy. Being able to retire early for me is a dream.

I'm 31 now. I've been at my job for around 10 years. There's aspects of it that I love, and many would consider it a "dream job" -- but it's also a grind.... and parts of it I hate. I cant' imagine doing this for another 34ish years (when I'm 65). Heck, I can barely imagine doing it for another 10!

If I get a chance to retire early, you better believe I'm taking it. I believe I'm on track to retire by age 50-55, if I so desire. And I bet I WILL desire.... (unless I have to get future potential children through school or something). And if I were to come into a large amount of money that would allow me to retire by my late 40s, I might do that, too...

Or maybe I'd go work at a nonprofit or something just for the joy of it and for something to do, but "retire" from what had been my main job/career.

printer86
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Re: Why retire?

Post by printer86 » Sat Jan 18, 2020 7:59 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
I've been in corporate sales for about 30 years. That means that I've attended about 120 quarterly sales conference calls where it's critically important that we hit our number. I'm not sure if I have the stomach for my 121st call.

MathIsMyWayr
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Re: Why retire?

Post by MathIsMyWayr » Sat Jan 18, 2020 8:02 pm

An occupation or subjects and a particular job are not the same thing and we have to separate them. Many years have gone since the graduate school days, but my passion for math and physics is still strong even though I do not particularly like my current job. When an interesting problem comes up, it keeps me awake at night. Occasionally my attention drifts away, but I always come back and find my interest intact. I am past FI. If my interest wanes or I hate my job, I will pack up, but it will leave a big hole in my life. I understand nothing lasts forever, and I have to be ready mentally. That is life.

Jack FFR1846
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Re: Why retire?

Post by Jack FFR1846 » Sat Jan 18, 2020 8:03 pm

At 38, I loved my job, traveled all over the world on their dime, made good money and worked for a great company. At 55, I worked for a company with a set policy to push those over 50 out as soon as possible, who had gobbled up the great company I had worked for, who had rotating VPs who always needed to make their mark which meant implementing stupid policies and whose CEO made rounds telling us we were too old and didn't blindly follow orders from the mother ship.

Things change, pal. Sorry.
Bogle: Smart Beta is stupid

EnjoyIt
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Re: Why retire?

Post by EnjoyIt » Sat Jan 18, 2020 8:07 pm

I’m not sure what your specialty is, but look around at some of the older docs. The ones who are still taking call. You know, the ones who are just miserable, angry, and flat out upset with everything. These docs very likely did not become financially independent when they had a chance and must work to make ends meet. Don’t turn into them.

Also, although you are still young in your career, maybe you are noticing how much harder medicine is to practice over the last few years. Compared to 5 years ago there are more regulations and more documentation that every physician need to do. This documentation and regulation creep doesn’t seem to have an end in sight and it is your future. It will continue and get worse. Eventually you will notice how you need to do more and more to make the same income. Wouldn’t it be nice to be financially independent and not have to work harder and harder?

Early financial independence buys you options which as you get older and have a family, become far more valuable than a shiny new car or a huge doctor McMansion. Who knows after 20 more years of doing the same thing, you may get bored and want to retire. Or not, that will be your choice.
A time to EVALUATE your jitters. | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418

protagonist
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Re: Why retire?

Post by protagonist » Sat Jan 18, 2020 8:15 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm

My question is- what changes happen with age or career that make retirement an attractive goal?
One simple reason why to consider retiring. As a physician, your stress level will probably drop about 90%. And as much as you love your work, a stress-free life is a happy life.

You feel good about your work. I did as well. But ask yourself this question: If you were asked to do exactly what you are doing now- same hours, same responsibilities, same commuting, same paperwork, same meetings, same everything....but to do it for free, would you say yes?

In fact, even if you wrote your own terms (which very few people are fortunate enough to do) , but had to be present at a given place and at a given time every day or every week, and you would receive no compensation, would you say yes?

If your answer to those questions is "of course not". and if you have enough money to retire, then I think you have your answer.

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calvin+hobbes
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Re: Why retire?

Post by calvin+hobbes » Sat Jan 18, 2020 8:24 pm

From one physician to another (if you are indeed a physician), getting embroiled in a lawsuit that has little to no merit can be extremely stress provoking, anxiety inducing and make you view your interactions with patients in a whole new light. It hasn’t happened to me personally but I know of others whose view of work became tainted.

Unladen_Swallow
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Re: Why retire?

Post by Unladen_Swallow » Sat Jan 18, 2020 8:24 pm

Here are reasons many retire and not work until they pass:

1. Love their job, but need time to do other things they love as well.
2. They don't like their job enough to continue working if they don't need to
3. Their health suffers
4. Cognitive ability decreases. They are not as good at their job as they need to be.
5. They were laid off
6. They might want to work, but they don't get any work.


Finally, there are many in the world who work until their last day, not just because they need to, but because they want to (and are able to). Good for them!
"I think it's much more interesting to live not knowing than to have answers which might be wrong." - Richard Feynman

toofache32
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Re: Why retire?

Post by toofache32 » Sat Jan 18, 2020 8:41 pm

Some live to work. I work to live. I can think of many things to do which are less stressful and less burdensome than work. No way I'm working until the day I die.

7eight9
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Re: Why retire?

Post by 7eight9 » Sat Jan 18, 2020 8:46 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
If work "Sparks Joy" (ref. Marie Kondo) then keep working. When it doesn't (if you have enough saved) quit.

Work doesn't Spark Joy for me anymore. So I retired.

Best of luck in your decisions.
I guess it all could be much worse. | They could be warming up my hearse.

sport
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Re: Why retire?

Post by sport » Sat Jan 18, 2020 9:06 pm

I tell people that "work" is a four-letter word. :twisted:

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sperry8
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Re: Why retire?

Post by sperry8 » Sat Jan 18, 2020 9:12 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
Why work? Society set up this "work to make money" construct. Ask a child what they want to do and the answer is usually play. If you have enough money, become a child again.

I realize some are lucky enough to do their passion as their work and get paid. If you're in that select group then lucky you and retirement is an irrelevant concept. If you play guitar and sing and get paid, you do it til you drop. If you are a painter and get paid to paint, you do it til you drop. etc.

But if you're sitting in a cubicle 9-5 every day and telling yourself you're happy you're misleading yourself. Again, this is societies construct and you just bought into it. There is no way a child or teen who had no concept of the outside world would choose "I want to sit inside at a desk until I die". We're trained to accept that. But a child could very well say, paint, draw, sing, cure mommy or daddy (doctor), etc.
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Taylor Larimore
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Location: Miami FL

Re: Why retire?

Post by Taylor Larimore » Sat Jan 18, 2020 9:33 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
nydoc:

I think it is wonderful that you enjoy your work, and if you are a physician, continue working to help the infirm. Unfortunately, many of us have (or had) difficult and/or boring jobs, often with difficult bosses, and we cannot wait to get home or enjoy the two-day weekend.

I have been retired for 38 years. These years, when I could do whatever I want, have been far more enjoyable for me and my family than my working years.

Best wishes.
Taylor
Jack Bogle's Words of Wisdom: "The great game of life is not about money; it is about doing your best to join the battle to build anew ourselves, our communities, our nation, and our world."
"Simplicity is the master key to financial success." -- Jack Bogle

bankle
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Joined: Wed Sep 13, 2017 5:53 pm

Re: Why retire?

Post by bankle » Sat Jan 18, 2020 9:36 pm

Many people are happily willing and able to work well into their "older" years. Some are on this board, some on other boards, some aren't on any board.

IMHO the focus (foci?) of this board is reasonable living, reasonable saving, realistic view of the responsibility of each person to prepare for when they want to stop, or are forced to stop, working.

Of course you can work as long as you want. Or can you?

IMO
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Re: Why retire?

Post by IMO » Sat Jan 18, 2020 9:40 pm

Cheez-It Guy wrote:
Sat Jan 18, 2020 7:16 pm
This question is sort of ridiculous. Does the OP really think everyone has a comfortable life and loves their job? This is a humblebrag, or someone who cannot relate to others, or both.
Or maybe this is just a troll post?

Nydoc, YOU just recently posted the following:

The sad fact is that the workplace is changing and I am finding this out.

This is the fact. No emphasis on quality. Profit trumps it all. I am in healthcare and similar things are happening here. No one is concerned about quality of doctors, nurses, hospital staff or equipments. Everyone including patients are looking at how to cut the cost. In the eyes of insurance companies and hospital administrators, every doctor or nurse is a commodity and can be replaced with a cheaper one. Actual patient’s outcomes have gone down in last two decades and will continue to deteriorate.

Topic Author
nydoc
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Re: Why retire?

Post by nydoc » Sat Jan 18, 2020 9:47 pm

Yes thats true but I do continue to feel good about my current work and that’s mostly because of my tremendous boss. But yes future is like stock market- no one knows when will it go down. This could very well be the reason to retire early if at all possible.

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willthrill81
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Location: USA

Re: Why retire?

Post by willthrill81 » Sat Jan 18, 2020 9:48 pm

nydoc wrote:
Sat Jan 18, 2020 9:47 pm
Yes thats true but I do continue to feel good about my current work and that’s mostly because of my tremendous boss. But yes future is like stock market- no one knows when will it go down.
Then you've answered your own question.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

Topic Author
nydoc
Posts: 109
Joined: Mon Jul 22, 2019 5:57 pm

Re: Why retire?

Post by nydoc » Sat Jan 18, 2020 9:52 pm

So what I am understanding from all the replies that financial independence should be the goal not necessarily an early retirement.
Thanks for everyone’s replies.

bltn
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Re: Why retire?

Post by bltn » Sat Jan 18, 2020 9:54 pm

Trader Joe wrote:
Sat Jan 18, 2020 7:20 pm
nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
The human body ages (degrades). Both physically and mentally. This is a fact.

If you are a NY doctor you should be aware of this.
There it is in a nut shell.
One day you ll appreciate having the option to retire.

tealeaves
Posts: 158
Joined: Sun Apr 29, 2018 1:21 pm

Re: Why retire?

Post by tealeaves » Sat Jan 18, 2020 9:59 pm

nydoc wrote:
Sat Jan 18, 2020 6:23 pm
Hi everyone,
This forum is primarily focused on a comfortable secure retirement and many members look forward to early retirement. At my age of 38, I do not see why should I aim for a retirement at 50, 55 or 60. I feel good at my work and life seems comfortable.
My question is- what changes happen with age or career that make retirement an attractive goal?
Answers will help me plan more critically for the retirement.
Thank you.
If one's job becomes more stressful and one has a hobby or hobbies that he/she would enjoy more than working then the time trade-off becomes a natural impetus to retire or semi retire.

My job is not stressful and I have no time-consuming hobbies to speak of. If either changes I will likely retire.

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