Happily retired but seriously considering going back to work

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shavenyak
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Happily retired but seriously considering going back to work

Post by shavenyak »

In brief, I am 63 and have thoroughly enjoyed being busily retired for several years. My family and I don't have a real need for more money. I have been offered a fulltime job (about 40-50 hours a week) related to my former career that I believe would be interesting and challenging. The employer understands my comfortable lifestyle; reading between the lines and absent unforeseen events, I can tell the employer doesn't want me to accept the job unless I have about a 5-year commitment in mind. I agree with that thinking on several levels. Fwiw, the job would be mostly remote during Covid and a combo of remote/doable commute post-Covid. I have three weeks to weigh the offer and decide.

Other than asking myself non-monetary questions that only I can answer (e.g., "I'm enjoying volunteering and fantastic freedom to pursue my own interests, but wouldn't I feel even more satisfied if I spent the next five years doing something with more purpose?" (VS.) "Time is my most important resource, so why shouldn't I spend whatever time is left for me enjoying my family and my current lifestyle?") When I ask those kinds of questions, the second one seems much more compelling when I bring my family into the equation, but they want me to do whatever will make me feel most fulfilled and they know I've always lived with a healthy perspective about work-life balance.

To each his/her own, but for those who have been in roughly similar circumstances or have done some focused thinking on the subject, I'd appreciate your thoughts. Thanks in advance.
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Re: Happily retired but seriously considering going back to work

Post by robphoto »

I wouldn't do this just because it was offered. You're trading some pretty precious years for this job.

If it were me, I would look for an opportunity that was less than full time, without a long term commitment-- or if this job is appealing, counteroffer that: "I can't commit to full time for 5 years, but I'd love to do projects or part time."

When travel is possible again, I wouldn't be happy to be bound to a 50 hour a week plus commute job.
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dziuniek
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Re: Happily retired but seriously considering going back to work

Post by dziuniek »

I mean they can ask for as many years of commitment as they want - but that does not dictate how long you're going to stay there.

If you feel like leaving after 2 weeks, so be it. As far as 'burning bridges' - it doesn't matter. You're retired now and if the job stinks or you decide you don't want to - it's not like you'll go back there a year from now anyways.

There is no downside for you to take it if you want to give it a go?
ccf
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Re: Happily retired but seriously considering going back to work

Post by ccf »

I expect I'll feel tempted by work after retirement.

I personally would ask for a 30 hour week and mostly remote forever because it doesn't take long for the hours and commuting to spoil things.
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Re: Happily retired but seriously considering going back to work

Post by Jack FFR1846 »

Doesn't sound like my idea of fun at all. Part of the allure of jobs during retirement is the ability to try them out and just up and quit when the job is no longer fun. Money isn't important. I've read many threads on MMM from those who FIRED and then went back to consulting just "part time" and got sucked into 60 hours a week of soul sucking work. Again, to me, a job after retirement will come with a "I'm not taking any BS" meter that if tripped will result in me immediately dropping what I'm doing and leaving, never to return. Your description sounds more like work, which in short order will suck.
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Re: Happily retired but seriously considering going back to work

Post by MikeG62 »

OP, this is a very personal decision. Having said that, are really interested in trading off the best/healthiest five of the remaining years of your life to work 40-50 hours per week? Especially, when you say you don't need the money. For me, that would be a hard no.

Personally, I have no interest in working anymore (I am 58 and have been fully retired for 5 years). If I did, it is incredibly unlikely it would be for a 40-50 hour per week time commitment. Have you considered a counteroffer at something like 20 hours a week? Happy to help, but needs to be on your terms...
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Re: Happily retired but seriously considering going back to work

Post by Sandtrap »

If this is something you enjoy, is rewarding on many levels, and you have an exit plan if needed. . .
. . . then why not?

Everyone has different opinions (and definitions) about "work" and "retirement" and the personal rewards of each no matter the career or tasks.

Decide for yourself.

Stop when it is no longer "fun" and you are no longer eager to be busy in that way.

Input and opinions come from a variety of "lenses" filled with unique personal experiences, good and bad, and mentalities.
Again, decide for yourself.

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Re: Happily retired but seriously considering going back to work

Post by MathIsMyWayr »

dziuniek wrote: Wed Nov 18, 2020 8:15 am I mean they can ask for as many years of commitment as they want - but that does not dictate how long you're going to stay there.

If you feel like leaving after 2 weeks, so be it. As far as 'burning bridges' - it doesn't matter. You're retired now and if the job stinks or you decide you don't want to - it's not like you'll go back there a year from now anyways.

There is no downside for you to take it if you want to give it a go?
-1
When I say yes, yes means yes. OP does not need more money and why does he have to deceive himself? He should make his concerns clear to the potential employer and make a decision fair to both parties depending on the employment conditions.

Money should not be everything in life even on this forum.
vested1
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Re: Happily retired but seriously considering going back to work

Post by vested1 »

Maybe it's because I waited to retire at about the age you are considering going back to work, but I don't understand the desire to jump back into the grind. I've been retired for 5 years now and have had numerous offers from various firms in my previous field and was never tempted. I've also had offers for temporary project work and turned them all down.

It's highly dependent on your own desires however and no one can really answer this question for you. It doesn't sound like you're bored, or that you need an ego boost either. I believe my most productive years are occuring after retirement, in that I am more available to my family, and not spending that precious time on producing something for the benefit of my employer.

If you decide that you will return to work I would only do so under conditions that are more favorable to you than they were when you were previously employed, such as a higher salary and a shorter work week. If your employer doesn't agree to your terms then politely decline. If he agrees then you come out even further ahead. Make it worth it to say yes.
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Re: Happily retired but seriously considering going back to work

Post by arcticpineapplecorp. »

Jack FFR1846 wrote: Wed Nov 18, 2020 8:22 am Doesn't sound like my idea of fun at all. Part of the allure of jobs during retirement is the ability to try them out and just up and quit when the job is no longer fun. Money isn't important. I've read many threads on MMM from those who FIRED and then went back to consulting just "part time" and got sucked into 60 hours a week of soul sucking work. Again, to me, a job after retirement will come with a "I'm not taking any BS" meter that if tripped will result in me immediately dropping what I'm doing and leaving, never to return. Your description sounds more like work, which in short order will suck.
how'd they get sucked into it?

Did others have control or did the person give up their own control?

As dziuniek put it it's a voluntary contract. Unless you sign a contract specifically for a time period (5 years in this example) you're free to go if it doesn't go as planned or you change your mind. Your employer is free to choose whether to continue your employment as well.
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Re: Happily retired but seriously considering going back to work

Post by galawdawg »

After I retired at age 53 from my position as a DA, I received a number of interesting and lucrative job offers. But my time and the freedom to enjoy the "fruits of my labor" to the fullest at a young age were much more important to me and I didn't pursue any of those opportunities.

In my situation, my Mom was diagnosed with early-onset Alzheimers while still working which quickly progressed to the point where she needed more care than my Dad could provide. So rather than enjoying their "golden years" at their contemplated retirement home on the coast of South Carolina, my parents stayed put and my Mom was moved to a memory care unit of a nursing home where she remained until she passed away eight years after her diagnosis. I also lost a number of friends who passed away in their early sixties while still working full-time, none of them were able to enjoy retirement.

Since we have been blessed with financial resources enabling us to enjoy our retirement without financial concern, I have no intent to return to the workforce. We enjoy the freedom of going to our grandchildren's activities, having them visit with us during school holidays, taking vacations (pre-COVID) whenever we wished to get away, doing things on the spur of the moment, and being with family and friends. We also have the ability to volunteer and when a need arises, we are often available. All without concern about work schedules or getting "permission" from employers.

So do you really want to be an employee for the next five years with all that comes along with a 40-50 hour a week job? You'll be tethered to a company, rather than to your family, friends and interests.

I think you answer your own question in the title of your post and your first two sentences: "Happily retired..." and "I am 63 and have thoroughly enjoyed being busily retired for several years. My family and I don't have a real need for more money. "

While it is ego boosting to know that in the view of your former professional colleagues and contemporaries you "still have it", don't let that "we need you" emotion sway your decision.

Good luck!
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Re: Happily retired but seriously considering going back to work

Post by flaccidsteele »

shavenyak wrote: Wed Nov 18, 2020 8:03 am To each his/her own, but for those who have been in roughly similar circumstances or have done some focused thinking on the subject, I'd appreciate your thoughts. Thanks in advance.
You’re facing something similar to me when I retired. I posted about it here:

viewtopic.php?f=11&t=328809&p=5604031#p5604031

Engaging in full time leisure, and socializing with family and friends wasn’t enough for me. You sound like you need a sense of contribution
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Re: Happily retired but seriously considering going back to work

Post by geerhardusvos »

shavenyak wrote: Wed Nov 18, 2020 8:03 am In brief, I am 63 and have thoroughly enjoyed being busily retired for several years. My family and I don't have a real need for more money. I have been offered a fulltime job (about 40-50 hours a week) related to my former career that I believe would be interesting and challenging. The employer understands my comfortable lifestyle; reading between the lines and absent unforeseen events, I can tell the employer doesn't want me to accept the job unless I have about a 5-year commitment in mind. I agree with that thinking on several levels. Fwiw, the job would be mostly remote during Covid and a combo of remote/doable commute post-Covid. I have three weeks to weigh the offer and decide.

Other than asking myself non-monetary questions that only I can answer (e.g., "I'm enjoying volunteering and fantastic freedom to pursue my own interests, but wouldn't I feel even more satisfied if I spent the next five years doing something with more purpose?" (VS.) "Time is my most important resource, so why shouldn't I spend whatever time is left for me enjoying my family and my current lifestyle?") When I ask those kinds of questions, the second one seems much more compelling when I bring my family into the equation, but they want me to do whatever will make me feel most fulfilled and they know I've always lived with a healthy perspective about work-life balance.

To each his/her own, but for those who have been in roughly similar circumstances or have done some focused thinking on the subject, I'd appreciate your thoughts. Thanks in advance.
Without being vulgar, it’s likely you only have 10 to 30 years left on this planet. Is going back to work full-time when you don’t need to really the way you want to spend your time? Where do you find your worth? If you have already been busy and happy, why change that? Only you can answer these.

My dad is a little older than you and has been made offers, and he would rather spend time with us, helping us, rather than helping corporate America. He has no need for more money.
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JoeRetire
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Re: Happily retired but seriously considering going back to work

Post by JoeRetire »

shavenyak wrote: Wed Nov 18, 2020 8:03 am In brief, I am 63 and have thoroughly enjoyed being busily retired for several years.

when I bring my family into the equation, but they want me to do whatever will make me feel most fulfilled and they know I've always lived with a healthy perspective about work-life balance.

To each his/her own, but for those who have been in roughly similar circumstances or have done some focused thinking on the subject, I'd appreciate your thoughts.
I believe that once financial issues are no longer a concern, we should pursue what makes us happy. I understand the draw of a meaningful job. And if you are already financially independent, you are free to work on your terms.

About a year after I retired, I was asked if I would come back to help out my successor. I agreed to do it for 2 days/16 hours per week but no more. I did that for a year and thoroughly enjoyed it. It had all the good/fun parts of my prior career with none of the politics or administrivia. And it really helped my former team. I would never have considered working full time as I had too many other enjoyable things to fill my time.

My wife finally retired early last year when we moved. She decided near the end of the year that she wanted to work. It had nothing at all to do with finances (we are well off), but she missed the social aspects of her former career. She found a nice part time job working two days per week doing something completely different than she had ever done. I can tell she is really enjoying herself and that makes me happy.

Decide what makes you happy and act on it. Don't worry about what others think.
Last edited by JoeRetire on Wed Nov 18, 2020 9:30 am, edited 3 times in total.
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oilrig
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Re: Happily retired but seriously considering going back to work

Post by oilrig »

How is their offer? I would only do this if they made it worthwhile financially, like really really worthwhile. Otherwise, if their offer was mediocre or not worth it then I would turn it down and enjoy retirement!
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Re: Happily retired but seriously considering going back to work

Post by humblecoder »

I am not retired or financially independent, so take this for what it's worth.

Others have echoed a lot of my sentiments, so I don't want to repeat what has already been stated. Consider that nostalgia is a real and powerful thing. We tend to remember the good and forget the bad when looking back at past events. Make sure you don't fall into this trap when you consider what to do. Consider all of the reasons why they call it "work" and they have to pay you to show up (endless meetings, office politics, insane HR policies). Of you base your decision on the positive memories of work only, then you're going to make a bad decision.

That said, this is not an irreversible decision. If you get six months in and you remember why you retired in the first place, give your two weeks notice. Of course, be honest with your employer. Tell them up front that you aren't sure if you can give them 5 years or whatever.

I'll leave you with one more thought. Both my father and grandmother have/had dementia. My father in particular worked until he was in his late 60's. However, because of dementia, he maybe had 2-3 quality years of retirement before it fully set in. Based upon that family history, I figure that there is a chance that I'll be facing diagnosis. My plan is to retire in my 50's to give myself a good 10-15 years of (hopefully) quality retirement. There is zero chance that I would ever come back to the workforce at 50 hours a week. I might consider a hobby/self-employment or volunteer work, but that's pretty much it. I consider my time too precious to give it away for a paycheck that I don't need. But that's just me.
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Re: Happily retired but seriously considering going back to work

Post by dziuniek »

MathIsMyWayr wrote: Wed Nov 18, 2020 8:35 am
dziuniek wrote: Wed Nov 18, 2020 8:15 am I mean they can ask for as many years of commitment as they want - but that does not dictate how long you're going to stay there.

If you feel like leaving after 2 weeks, so be it. As far as 'burning bridges' - it doesn't matter. You're retired now and if the job stinks or you decide you don't want to - it's not like you'll go back there a year from now anyways.

There is no downside for you to take it if you want to give it a go?
-1
When I say yes, yes means yes. OP does not need more money and why does he have to deceive himself? He should make his concerns clear to the potential employer and make a decision fair to both parties depending on the employment conditions.

Money should not be everything in life even on this forum.
-1

When I take a job I want a 5 year commitment at minimum too. Yet that's not what happens. Maybe I am jaded, but I believe it should be a two way street. If the company signs a contract when they pay me for 5 years regardless of what happens, then they can have a commitment too.
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Re: Happily retired but seriously considering going back to work

Post by flyingaway »

My previous reply seems to be lost.

Just want to say that more money is not a bad thing. More money gives you more choices, maybe better lifestyle.
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Re: Happily retired but seriously considering going back to work

Post by nedsaid »

After reading this thread, I have come to the conclusion that you should not accept the offer to return to work. A big reason is that the work environment has been changing over the years and not for the better. My suspicion is that things have changed since you retired and that you will be in for a shock if you come back. Probably a better solution would be part time work to keep the mind occupied. It is very flattering to get such an offer, particularly after you have been retired for a while, but I don't think you should make a 5 year commitment. You only have so many years of robust health as others have pointed out.
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Re: Happily retired but seriously considering going back to work

Post by JoeRetire »

nedsaid wrote: Wed Nov 18, 2020 9:33 amA big reason is that the work environment has been changing over the years and not for the better.
That's a huge over-generalization that may or may not apply to one specific job.
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Re: Happily retired but seriously considering going back to work

Post by Watty »

shavenyak wrote: Wed Nov 18, 2020 8:03 am I have been offered a fulltime job (about 40-50 hours a week) related to my former career that I believe would be interesting and challenging.
It is largely a personal decision but here are a few things to add to your list of things to consider.

1) How many weeks per year would would be working? Going back to working 50 weeks with only two weeks vacation would be a non-starter for me. Something like 40 weeks might be more tempting.

2) You would be an employee or a contractor? That would make a huge impact in how much you would clear after taxes. Be sure to do dummy tax return to see just what the after tax impact would be. In some situation if you are a contractor you can be sued if there is a problem even if you set up a LLC. They may or may not win the lawsuit but you would still need to pay lawyers to defend you.

3) Would there be secondary tax impacts? For example you might not be able to do Roth conversions or take long term capital gains in a low tax bracket. If your or a spouse are getting Social Security then a lot more of their Social Security may be taxed.

4) Would you be paid hourly or just a salary? One huge problem with being paid a salary is that you may have a hard time limiting the number of hours you actually work and you may find yourself taking a lot of emails and phone calls when you should not be working. Even if they do not pressure you into working extra hours you may feel that you need to.
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Re: Happily retired but seriously considering going back to work

Post by dknightd »

Once I decided to retire from full time work I don't think I'd ever go back.
I might go back part time doing something that I wanted to do anyway.
I'd think of it as a hobby that paid. Full time. No way!
Not unless it was something I was really passionate about.
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Re: Happily retired but seriously considering going back to work

Post by humblecoder »

MathIsMyWayr wrote: Wed Nov 18, 2020 8:35 am
dziuniek wrote: Wed Nov 18, 2020 8:15 am I mean they can ask for as many years of commitment as they want - but that does not dictate how long you're going to stay there.

If you feel like leaving after 2 weeks, so be it. As far as 'burning bridges' - it doesn't matter. You're retired now and if the job stinks or you decide you don't want to - it's not like you'll go back there a year from now anyways.

There is no downside for you to take it if you want to give it a go?
-1
When I say yes, yes means yes. OP does not need more money and why does he have to deceive himself? He should make his concerns clear to the potential employer and make a decision fair to both parties depending on the employment conditions.

Money should not be everything in life even on this forum.
If a company wants a 5 year commitment, then let them put it writing with a contract. Otherwise, "employment at will" applies. I don't think most companies would have a second thought about cutting staff if needed, so why should I feel obligated to stay with a job that I don't like or need?
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Re: Happily retired but seriously considering going back to work

Post by friar1610 »

Jack FFR1846 wrote: Wed Nov 18, 2020 8:22 am Doesn't sound like my idea of fun at all. Part of the allure of jobs during retirement is the ability to try them out and just up and quit when the job is no longer fun. Money isn't important. I've read many threads on MMM from those who FIRED and then went back to consulting just "part time" and got sucked into 60 hours a week of soul sucking work. Again, to me, a job after retirement will come with a "I'm not taking any BS" meter that if tripped will result in me immediately dropping what I'm doing and leaving, never to return. Your description sounds more like work, which in short order will suck.
It may have been unique to the industry I was in but I saw the same thing happen to a lot of friends of mine. These were generally retired military guys who could afford to live decently on their pensions + a part-;time job. Inevitably they got sucked back into FT (or more) schedules. "We need you to be part of the team." "Can we count on you for an extra effort just this once?" "We can't do this proposal without your expertise." Etc., etc.
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Re: Happily retired but seriously considering going back to work

Post by RadAudit »

shavenyak wrote: Wed Nov 18, 2020 8:03 am I'd appreciate your thoughts.
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Re: Happily retired but seriously considering going back to work

Post by rich126 »

Obviously varies on the person. I'm not yet retired but I think I would only do short stretches like 3-6 months at a time and then use the rest of the time to travel (in better years). I was planning to retire at 60 but not even last that long right now.
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Re: Happily retired but seriously considering going back to work

Post by Sandtrap »

nedsaid wrote: Wed Nov 18, 2020 9:33 am After reading this thread, I have come to the conclusion that you should not accept the offer to return to work.
A big reason is that the work environment has been changing over the years and not for the better. My suspicion is that things have changed since you retired and that you will be in for a shock if you come back.
Probably a better solution would be part time work to keep the mind occupied. It is very flattering to get such an offer, particularly after you have been retired for a while, but I don't think you should make a 5 year commitment. You only have so many years of robust health as others have pointed out.
Interesting point.
Likely not universal but I have heard this often from retirees who've gone back to work or considered doing so. Also fellow business or previous business owners (employers) like myself.
Of course there may be different viewpoints whether one has had a career as an employee or an employer.??

great points :D
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Re: Happily retired but seriously considering going back to work

Post by yohac »

Agree with the part-time. If you don't need the money, you can dictate the conditions and they can come back with how much it's worth to them. I work when I feel like it, 100% remote, and I turn down projects that don't interest me. In return they pay me a below market hourly rate. So far after 2 1/2 years it's been win-win.
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Re: Happily retired but seriously considering going back to work

Post by 8foot7 »

I would be looking to turn this into a 1-1.5 day/week consulting role at a handsome rate of pay, or I'd say no. And I certainly wouldn't commit to five years. I'd barely commit to next month.

Basically the amount of work should be so little and the pay should be so stupidly high that you simply can't say no. Anything less and I'd be out.
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Re: Happily retired but seriously considering going back to work

Post by dowse »

Retired in 2016. About 2 years ago, I accepted a part-time contracting role from my old company, about 10-12 hours per week. I did some serious soul-searching at the time, because I was afraid of scope-creep leading to longer hours. I knew that once I was engaged, I would develop a desire to deliver. I had strong leverage, as they desperately needed someone with a scarce set of skills and experience that I have. After an initial laughable offer, I negotiated an attractive rate with all the flexibility I wanted. It has worked out well. They honored their commitment to my flexibility requirements and they seem to genuinely appreciate my contributions. Now 2 years in, the project is nearing a successful completion and the group I was working for has become almost self-sufficient now. I have enjoyed the intellectual stimulation and met some smart and interesting people. I now only work a few hours per month, which is perfectly fine with me. Win/win all around. So, I would say if you have enough leverage to set the terms and conditions you want, it might work for you. That many hours does sound like a lot, though, for someone already retired.
Last edited by dowse on Wed Nov 18, 2020 12:58 pm, edited 1 time in total.
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Re: Happily retired but seriously considering going back to work

Post by Beehave »

First question I'd ask is - - Why did you retire a couple of years ago? If it was not voluntary, or if it was voluntary but only because of some sweet offer, then you have had a taste of working at your age and retirement and should be able to judge. If it was by choice and planning, think carefully back as to why you chose to retire.

My personal experience was being laid off a decade ago during the economic downturn. I found part-time work I enjoy. I do not need the income, but I do not mind it either. I have hours that allow me to exercise, enjoy full days off during the week for appointments and time with DW. The work is low stress and with no rush hour commuting (I do not like remote work and even with Covid I and the option to work remotely I choose in person). If you still want to work and you can afford to trade-off pay for flexibility and enjoyment, then make that trade and work part-time and use the morning (or whatever) for exercise that keeps you physically mobile and strong. That's my opinion and obviously may not be appropriate for others.

Best wishes.
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Re: Happily retired but seriously considering going back to work

Post by SimplicityNow »

Only you can say what will make you happy but I will leave you with this quote to ponder on:

“No one ever said on their deathbed 'I wish I'd spent more time at the office".
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Re: Happily retired but seriously considering going back to work

Post by am »

I say no at your age. Who knows how much is left. Would rather have the remaining time be spent in complete control, without stress, obligations, or irritations. Especially if money is not a concern.
Bronko
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Re: Happily retired but seriously considering going back to work

Post by Bronko »

If you want to enjoy the best years you have left then stay retired and do everything on a bucket list. Health and physical ability doesn't get better with age. Do you want to look back 5 years from now at more work or experiences with loved ones? I know what I'd do, you should know as well.
Never let a little bit of money get in the way of a real good time.
quantAndHold
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Re: Happily retired but seriously considering going back to work

Post by quantAndHold »

This happens to me regularly. I retired four years ago at age 53, but I have job skills that are still very relevant and somewhat rare in the current job market. I get contacted by potential employers regularly, and have even gone on a handful of interviews. The money would be nice to have, and some of the jobs sound interesting. And especially during COVID, I have times when I feel stuck at home, and having a job would be a solution to that.

But...when i think back to why I retired in the first place, I realize that I don’t want to go back to that.
Yes, I’m really that pedantic.
hightower
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Re: Happily retired but seriously considering going back to work

Post by hightower »

shavenyak wrote: Wed Nov 18, 2020 8:03 am In brief, I am 63 and have thoroughly enjoyed being busily retired for several years. My family and I don't have a real need for more money. I have been offered a fulltime job (about 40-50 hours a week) related to my former career that I believe would be interesting and challenging. The employer understands my comfortable lifestyle; reading between the lines and absent unforeseen events, I can tell the employer doesn't want me to accept the job unless I have about a 5-year commitment in mind. I agree with that thinking on several levels. Fwiw, the job would be mostly remote during Covid and a combo of remote/doable commute post-Covid. I have three weeks to weigh the offer and decide.

Other than asking myself non-monetary questions that only I can answer (e.g., "I'm enjoying volunteering and fantastic freedom to pursue my own interests, but wouldn't I feel even more satisfied if I spent the next five years doing something with more purpose?" (VS.) "Time is my most important resource, so why shouldn't I spend whatever time is left for me enjoying my family and my current lifestyle?") When I ask those kinds of questions, the second one seems much more compelling when I bring my family into the equation, but they want me to do whatever will make me feel most fulfilled and they know I've always lived with a healthy perspective about work-life balance.

To each his/her own, but for those who have been in roughly similar circumstances or have done some focused thinking on the subject, I'd appreciate your thoughts. Thanks in advance.
This is a purely personal decision. There's no right or wrong here. If you're the type of person that gets a lot of happiness out of working for someone else and you think this job would make you happy, then go for it. I personally wouldn't do it, but I don't get any satisfaction from my line of work and I can't wait to be done with it. I am also very good at keeping myself very busy when not working, so I would have a blast if I were retired.
makingmistakes
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Re: Happily retired but seriously considering going back to work

Post by makingmistakes »

Only you can answer that question, but in all likelihood, the next 5 years will be the healthiest( physically and mentally) that you will ever be again. So choose carefully.
Normchad
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Re: Happily retired but seriously considering going back to work

Post by Normchad »

Would this extra money allow you to do something very important to you?

I.e. do you want to set up college funds for the grand kids, and this would make that possible?

If there’s no marginal utility to the money, then it really is just about your personal motivations, and we can’t help you there.

I think a lot though about the very best, healthiest years I have left, are right now. They’re more important years. How do I want to spend those?
tealeaves
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Re: Happily retired but seriously considering going back to work

Post by tealeaves »

I know quite a few financially secure folks who went back to work after "retirement." My observation has been that for those whom it was a good decision, they returned to a job that truly filled a social and/or intellectual void that they were missing in retirement. For those who took a job because their ego was boosted from being "wanted" again, that uplift quickly wore off and they either quit soon after or do not seem particularly happy with their choice.
123
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Re: Happily retired but seriously considering going back to work

Post by 123 »

SimplicityNow wrote: Wed Nov 18, 2020 11:48 am Only you can say what will make you happy but I will leave you with this quote to ponder on:

“No one ever said on their deathbed 'I wish I'd spent more time at the office".
+1 But some people continue to work, or go back to work, as a diplomatic way to get respite from a situation at home.
The closest helping hand is at the end of your own arm.
fishnhunt
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Re: Happily retired but seriously considering going back to work

Post by fishnhunt »

I wouldn't do it, I'd maybe consider part time one or two days per week max. Enjoy your retirement.
SevenBridgesRoad
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Re: Happily retired but seriously considering going back to work

Post by SevenBridgesRoad »

shavenyak wrote: Wed Nov 18, 2020 8:03 am ...or have done some focused thinking on the subject, I'd appreciate your thoughts...
Here's some focused thinking. Do this before you finalize your decision: Go to the Wait But Why blog site. Click their Store and buy the Life Calendar. When it arrives, color in the little weekly squares for your existence so far. Humans are visual creatures and this exercise helps one visualize where the weeks and years have gone and how little time might be remaining. It’s too abstract otherwise.

I did this exercise and was stunned, especially when I put a mark on the square where actuaries say I have a decent probability of non-existence.

Gave notice shortly after and retired at 61. I wanted a third phase of life: post-career freedom. And I wanted plenty of blank weekly squares ahead of me.

I love my post-career freedom (or what most people call retired life), and I actually enjoyed my career years, but it’s a matter of how you want to use your remaining weekly squares. I would never look at my Life Calendar and color in 5 times 52 squares for any job on the planet.
heyyou
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Re: Happily retired but seriously considering going back to work

Post by heyyou »

Seconding Normchad's posting of
I think a lot though about the very best, healthiest years I have left, are right now. They’re more important years. How do I want to spend those?
The above is important for both the OP and his spouse. Think carefully about the cost of selling your best remaining time to an employer. My spouse died just before her 60th birthday, but we had a dozen good years of early retirement together, traveling with no scheduling constraints. The best years of my life were in my late 50s, retired and still able to occasionally go backpacking for volunteer, remote trail maintenance. Now I am just another geezer with fond memories of good times that occurred after retiring.

@ the OP,
Yes, go work a job if that is what suits you, but now I'm glad that I didn't do that as part of my early retirement.
mrmass
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Re: Happily retired but seriously considering going back to work

Post by mrmass »

My father used to say about athletes that won't retire or play when they're too old, that they really don't want to be home with their families and rather hang with the guys.
fourwheelcycle
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Re: Happily retired but seriously considering going back to work

Post by fourwheelcycle »

When I retired at 60 there was one part of my job I knew my employer could not cover. I offered to keep doing it on a consulting basis, mostly working form home, for a year or so until they could find someone to take on that part of my job. They never found someone to do it, and I ended up consulting for seven more years. However, they paid me about 25% of my previous pay for two or three days of work per month and I rarely had to go in for meetings. I never would have done it, for any amount of pay, if it had required full-time work. I did enjoy the opportunity to maintain contact with some of my favorite colleagues.
Dottie57
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Re: Happily retired but seriously considering going back to work

Post by Dottie57 »

robphoto wrote: Wed Nov 18, 2020 8:12 am I wouldn't do this just because it was offered. You're trading some pretty precious years for this job.

If it were me, I would look for an opportunity that was less than full time, without a long term commitment-- or if this job is appealing, counteroffer that: "I can't commit to full time for 5 years, but I'd love to do projects or part time."

When travel is possible again, I wouldn't be happy to be bound to a 50 hour a week plus commute job.
+1. I too am 63. I can’t imagine committing to 40-50 hours a week for FIVE more years. Freedom and time are precious.
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beyou
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Re: Happily retired but seriously considering going back to work

Post by beyou »

If it makes you feel happy and fulfilled why not ?
Do you really think that your contributions won't be highly valuable to the employer if you only stay for 2-3 years ?
You should have enough understanding of what they need and what you bring to the table, to make such a judgement.
They may want 5 years, but in my mind I would stay at least until 65/Medicare (selfish financial reason) but beyond that only if I feel
fulfilled in spending my days. You do need to think about that, but after 2 years you'll see if you still feel that way and decide.

Personally I am in my 50s and I would gladly work part time or even full time if I enjoyed my work, so long as it can be mostly WFH and/or short
commute as you indicated. I did the long commute for many years and not going to go back to that post-COVID, despite being a few years younger.
retire2022
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Re: Happily retired but seriously considering going back to work

Post by retire2022 »

op

How big of a nest egg do you have?

What are your expenses? would you be able to cut back if you need the money?

Like others said, life on this planet is short, I concur with this sentiment.

I am 60 with portfolio worth 2 commas, I am waiting for vaccine to be widely available and plan to exit.

I think you need to take up a serious hobby or a part time job or small business to keep your life structured.
coffeeblack
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Re: Happily retired but seriously considering going back to work

Post by coffeeblack »

galawdawg wrote: Wed Nov 18, 2020 8:46 am After I retired at age 53 from my position as a DA, I received a number of interesting and lucrative job offers. But my time and the freedom to enjoy the "fruits of my labor" to the fullest at a young age were much more important to me and I didn't pursue any of those opportunities.

In my situation, my Mom was diagnosed with early-onset Alzheimers while still working which quickly progressed to the point where she needed more care than my Dad could provide. So rather than enjoying their "golden years" at their contemplated retirement home on the coast of South Carolina, my parents stayed put and my Mom was moved to a memory care unit of a nursing home where she remained until she passed away eight years after her diagnosis. I also lost a number of friends who passed away in their early sixties while still working full-time, none of them were able to enjoy retirement.

Since we have been blessed with financial resources enabling us to enjoy our retirement without financial concern, I have no intent to return to the workforce. We enjoy the freedom of going to our grandchildren's activities, having them visit with us during school holidays, taking vacations (pre-COVID) whenever we wished to get away, doing things on the spur of the moment, and being with family and friends. We also have the ability to volunteer and when a need arises, we are often available. All without concern about work schedules or getting "permission" from employers.

So do you really want to be an employee for the next five years with all that comes along with a 40-50 hour a week job? You'll be tethered to a company, rather than to your family, friends and interests.

I think you answer your own question in the title of your post and your first two sentences: "Happily retired..." and "I am 63 and have thoroughly enjoyed being busily retired for several years. My family and I don't have a real need for more money. "

While it is ego boosting to know that in the view of your former professional colleagues and contemporaries you "still have it", don't let that "we need you" emotion sway your decision.

Good luck!
I like this post. Puts thing in perspective. :sharebeer
Golf maniac
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Re: Happily retired but seriously considering going back to work

Post by Golf maniac »

I can really relate to the OP situation. I retired at 56 and have been retired 5 years. At first I thought about consulting and working full time. I had a company ready to hire me as soon as I retired. Then I started thinking, do I really want to work full time? So, we talked some more and they developed a specific part time position for me. But after a few months of retirement I was thinking I don’t want to work at all. So, I decided to not work at all and enjoy life and find new passions. I still occasionally get offers for consulting for a few months at a time, but do I really want to blow up my life for those 3 months? The answer has always been no even though the money is really good. But we have enough money to live very comfortable, do I really need more at this point?

So a few times a year I go through the same exercise of thinking about working but in the end deciding my life is too good right now to screw it up.
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