Working after Financial Independence

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Topic Author
KlangFool
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Joined: Sat Oct 11, 2008 12:35 pm

Working after Financial Independence

Post by KlangFool »

Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.

My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work?

B) After (A), what makes you retire eventually?

In my case,

1) Interesting work.

2) The new job's compensation is 40% higher.

3) Better work life balance

A) Work from home

B) Occasional 10 to 15 minutes commute to office.

4) Less stressful and slower pace environment.

KlangFool
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Shorty
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Re: Working after Financial Independence

Post by Shorty »

CASH

sorry...couldn't help myself... :-)

Fulfilling and enjoyable.
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jfn111
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Location: Minnesota

Re: Working after Financial Independence

Post by jfn111 »

KlangFool wrote: Thu Jul 15, 2021 7:51 am Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.

My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work? For me it was just being bored. I don't have a lot of hobbies and wife isn't big on travel.

B) After (A), what makes you retire eventually? I'll retire completely when my, or my wife's, health declines or I don't enjoy working anymore.

In my case,

1) Interesting work.

2) The new job's compensation is 40% higher.

3) Better work life balance

A) Work from home

B) Occasional 10 to 15 minutes commute to office.

4) Less stressful and slower pace environment.

KlangFool
Soon2BXProgrammer
Posts: 2442
Joined: Mon Nov 24, 2014 11:30 pm

Re: Working after Financial Independence

Post by Soon2BXProgrammer »

KlangFool wrote: Thu Jul 15, 2021 7:51 am Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.

My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work?

B) After (A), what makes you retire eventually?

In my case,

1) Interesting work.

2) The new job's compensation is 40% higher.

3) Better work life balance

A) Work from home

B) Occasional 10 to 15 minutes commute to office.

4) Less stressful and slower pace environment.

KlangFool
I work from home. good work life balance, decent pay. huge number of vacation days. great benefits.

at times i wish i had a day off every week.. like a 32 hour job.. but 40 isn't that bad without a commute.

i feel productive, and my 'stache isn't being drained. "one more year" might mean an increase in my standard of living for the rest of my life that is meaningful to me. (5 more years, would be more money then i could ever spend, and isn't as interesting)
Chartered Financial Consultant (ChFC®), Retirement Income Certified Professional (RICP®) -- I am not your advisor.
Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

Shorty wrote: Thu Jul 15, 2021 7:53 am CASH

sorry...couldn't help myself... :-)

Fulfilling and enjoyable.
Shorty,

<<CASH>>

In my case, my portfolio plus emergency fund is at 30 times my annual expense. My portfolio's YTD growth exceeds my previous gross household income. So, I could work for 2 to 3 more years. Beyond that, I would have 1+ million in my tax-deferred account. It may no longer be financially beneficial for me to continue working.

KlangFool
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calmaniac
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Re: Working after Financial Independence

Post by calmaniac »

Congrats KlangFool! Good to hear that your expertise is valued.

At 58 I was ≈2xFI, left my job, took a 6 month mini-retirement "hiatus", and then was offered a new job in a related field with all of the attributes you mentioned in your post.

I find it very empowering that when I feel like complaining about my job, a little voice in my head calls out to me:
"you don't need the money, so if you don't like your job quit, otherwise shut up".
63 yo,1y til go part-time. AA 70/30: 30% S&P, 16% value, 14% intl, 10% EM, 30% short/int govt bonds. My mil pension + DW's now ≈60% of expenses. Taking SS @age 70--> pension+SS ≈100% of expenses.
cjcerny
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Re: Working after Financial Independence

Post by cjcerny »

I work part time because I like the socialization and because it helps with health insurance costs. I proctor tests at my community college.
Topic Author
KlangFool
Posts: 21618
Joined: Sat Oct 11, 2008 12:35 pm

Re: Working after Financial Independence

Post by KlangFool »

Soon2BXProgrammer wrote: Thu Jul 15, 2021 7:59 am
KlangFool wrote: Thu Jul 15, 2021 7:51 am Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.

My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work?

B) After (A), what makes you retire eventually?

In my case,

1) Interesting work.

2) The new job's compensation is 40% higher.

3) Better work life balance

A) Work from home

B) Occasional 10 to 15 minutes commute to office.

4) Less stressful and slower pace environment.

KlangFool
I work from home. good work life balance, decent pay. huge number of vacation days. great benefits.

at times i wish i had a day off every week.. like a 32 hour job.. but 40 isn't that bad without a commute.

i feel productive, and my 'stache isn't being drained. "one more year" might mean an increase in my standard of living for the rest of my life that is meaningful to me. (5 more years, would be more money then i could ever spend, and isn't as interesting)
Soon2BXProgrammer,

<<at times i wish i had a day off every week.. like a 32 hour job.. but 40 isn't that bad without a commute.>>

With my job, I can literally work anywhere in the world except for the infrequent office meeting. And, except for scheduled meeting, I can work any hours. So, I do not have the same reason of not keeping the job.

KlangFool
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Topic Author
KlangFool
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Joined: Sat Oct 11, 2008 12:35 pm

Re: Working after Financial Independence

Post by KlangFool »

jfn111 wrote: Thu Jul 15, 2021 7:57 am
KlangFool wrote: Thu Jul 15, 2021 7:51 am Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.

My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work? For me it was just being bored. I don't have a lot of hobbies and wife isn't big on travel.

B) After (A), what makes you retire eventually? I'll retire completely when my, or my wife's, health declines or I don't enjoy working anymore.

In my case,

1) Interesting work.

2) The new job's compensation is 40% higher.

3) Better work life balance

A) Work from home

B) Occasional 10 to 15 minutes commute to office.

4) Less stressful and slower pace environment.

KlangFool
Thanks. The COVID and restriction on traveling play a part in my decision too.

KlangFool
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Jack FFR1846
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Re: Working after Financial Independence

Post by Jack FFR1846 »

DW won't let me retire.

First it was "The cost of college!!!"

Now it's "The cost of health insurance!!!"

We currently have 52 times spending in investment accounts, paid house, 4 paid cars and over $100k in checking/savings.

On the bright side, with all this money, I plan to order a Lotus Emira.
Bogle: Smart Beta is stupid
Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

calmaniac wrote: Thu Jul 15, 2021 8:03 am Congrats KlangFool! Good to hear that your expertise is valued.

At 58 I was ≈2xFI, left my job, took a 6 month mini-retirement "hiatus", and then was offered a new job in a related field with all of the attributes you mentioned in your post.

I find it very empowering that when I feel like complaining about my job, a little voice in my head calls out to me:
"you don't need the money, so if you don't like your job quit, otherwise shut up".
calmaniac,

Great to hear that!

KlangFool
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Soon2BXProgrammer
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Joined: Mon Nov 24, 2014 11:30 pm

Re: Working after Financial Independence

Post by Soon2BXProgrammer »

KlangFool wrote: Thu Jul 15, 2021 8:05 am Soon2BXProgrammer,

<<at times i wish i had a day off every week.. like a 32 hour job.. but 40 isn't that bad without a commute.>>

With my job, I can literally work anywhere in the world except for the infrequent office meeting. And, except for scheduled meeting, I can work any hours. So, I do not have the same reason of not keeping the job.

KlangFool
I roughly have the same arrangement. I have 80 hours over 2 weeks, from any location, etc.

my point was the difference in pay between 32 and 40... isn't worth the time of those 8 hours... I would rather have 32 hours and less pay, then 40... because it seems like i could use the time every week for osmething i want to do...

but the 40 hour "from home" deal is flexible enough that i'm not going to walk away from a good deal.
Chartered Financial Consultant (ChFC®), Retirement Income Certified Professional (RICP®) -- I am not your advisor.
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Wricha
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Re: Working after Financial Independence

Post by Wricha »

Congratulations, I know you struggled a bit with job lose (how/why). Now this time, when you call it a day you can leave on your own terms which I believe has major impact on some folks. Personally, I would not wait too long. I got out ( self employed) around 55 and have been very happy with that decision. Now, 11 years later I admit I worked 5 years more than I needed. The extra money/security was not worth it. My grandmother would always say “did you ever see a Brinks truck at a funeral”.
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WoodSpinner
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Re: Working after Financial Independence

Post by WoodSpinner »

KlangFool wrote: Thu Jul 15, 2021 8:00 am
Shorty wrote: Thu Jul 15, 2021 7:53 am CASH

sorry...couldn't help myself... :-)

Fulfilling and enjoyable.
Shorty,

<<CASH>>

In my case, my portfolio plus emergency fund is at 30 times my annual expense. My portfolio's YTD growth exceeds my previous gross household income. So, I could work for 2 to 3 more years. Beyond that, I would have 1+ million in my tax-deferred account. It may no longer be financially beneficial for me to continue working.

KlangFool
Obviously a very personal decision.

Perhaps you might want to spend more in Retirement and need a bigger portfolio?

Or you enjoy the work, the challenge and the people?

Or you just get to Retire on your own terms and timeline?

Congrats!

WoodSpinner
Shorty
Posts: 112
Joined: Sat Feb 23, 2019 4:54 pm

Re: Working after Financial Independence

Post by Shorty »

Klang,
Congratulations! Based on your other posts, I'm confident that you have a solid grasp of the scenario. I'm glad you arrived at a positive outcome since the job loss scenario. It sounds like this one is perfect for your scenario. :sharebeer
Topic Author
KlangFool
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Joined: Sat Oct 11, 2008 12:35 pm

Re: Working after Financial Independence

Post by KlangFool »

Wricha wrote: Thu Jul 15, 2021 8:09 am Congratulations, I know you struggled a bit with job lose (how/why). Now this time, when you call it a day you can leave on your own terms which I believe has major impact on some folks. Personally, I would not wait too long. I got out ( self employed) around 55 and have been very happy with that decision. Now, 11 years later I admit I worked 5 years more than I needed. The extra money/security was not worth it. My grandmother would always say “did you ever see a Brinks truck at a funeral”.
Wricha,


1) Thanks.

2) COVID and travel restriction played a part in my decision too.

KlangFool
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fortunefavored
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Re: Working after Financial Independence

Post by fortunefavored »

Quit the rat race earlier this year, late 40s. 35-40x expenses.

The only way I can see going back to work is 1) disaster happens or 2) I suddenly decide I want something very expensive outside of my normal spending plan (Ferrari?)

I think it matters if you hate working or not. I hated working from my very first job, day 1.
Topic Author
KlangFool
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Joined: Sat Oct 11, 2008 12:35 pm

Re: Working after Financial Independence

Post by KlangFool »

Shorty wrote: Thu Jul 15, 2021 8:16 am Klang,
Congratulations! Based on your other posts, I'm confident that you have a solid grasp of the scenario. I'm glad you arrived at a positive outcome since the job loss scenario. It sounds like this one is perfect for your scenario. :sharebeer
Thanks.

KlangFool
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Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

fortunefavored wrote: Thu Jul 15, 2021 8:20 am Quit the rat race earlier this year, late 40s. 35-40x expenses.

The only way I can see going back to work is 1) disaster happens or 2) I suddenly decide I want something very expensive outside of my normal spending plan (Ferrari?)

I think it matters if you hate working or not. I hated working from my very first job, day 1.
Great for you!

KlangFool
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Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

WoodSpinner wrote: Thu Jul 15, 2021 8:15 am
KlangFool wrote: Thu Jul 15, 2021 8:00 am
Shorty wrote: Thu Jul 15, 2021 7:53 am CASH

sorry...couldn't help myself... :-)

Fulfilling and enjoyable.
Shorty,

<<CASH>>

In my case, my portfolio plus emergency fund is at 30 times my annual expense. My portfolio's YTD growth exceeds my previous gross household income. So, I could work for 2 to 3 more years. Beyond that, I would have 1+ million in my tax-deferred account. It may no longer be financially beneficial for me to continue working.

KlangFool
Obviously a very personal decision.

Perhaps you might want to spend more in Retirement and need a bigger portfolio?

Or you enjoy the work, the challenge and the people?

Or you just get to Retire on your own terms and timeline?

Congrats!

WoodSpinner
More money is nice but it won't motivate me. I have more than enough.

Thanks for your post!

KlangFool
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winterfan
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Re: Working after Financial Independence

Post by winterfan »

Congrats on the new job offer! We are FI. My spouse keeps working though because he says he still feels like he's 30. I think he is just wired to work and he's one of those people that always will. He does have an interesting job that he enjoys though, so that's part of it too. I was thinking about getting a PT job this fall. I think it would be nice just to have a change of pace. However, I've been out of the workforce for almost 10 years. I might be romanticizing it a bit.
Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

Jack FFR1846 wrote: Thu Jul 15, 2021 8:07 am DW won't let me retire.

First it was "The cost of college!!!"

Now it's "The cost of health insurance!!!"

We currently have 52 times spending in investment accounts, paid house, 4 paid cars and over $100k in checking/savings.

On the bright side, with all this money, I plan to order a Lotus Emira.
Jack FFR1846,

1) The nest is empty in my case.

2) Thanks for your post.

KlangFool
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Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

winterfan wrote: Thu Jul 15, 2021 8:25 am Congrats on the new job offer! We are FI. My spouse keeps working though because he says he still feels like he's 30. I think he is just wired to work and he's one of those people that always will. He does have an interesting job that he enjoys though, so that's part of it too. I was thinking about getting a PT job this fall. I think it would be nice just to have a change of pace. However, I've been out of the workforce for almost 10 years. I might be romanticizing it a bit.
winterfan,

1) Thanks for your post.

2) I think if someone is at a certain technical level, he/she can pick and choose what to work on. Hence, that make the job enjoyable.

KlangFool
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Jags4186
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Re: Working after Financial Independence

Post by Jags4186 »

Klang,

This is a situation where you can selectively increase your spending. You drive a $60,000 car instead of a $30,000 car. You can order the $50 bottle of wine at dinner instead of a $20 bottle (or a bottle at all). You can fly business class on vacation vs economy. Do you have any "big ticket items" that are not recurring expenses but maybe you would have delayed or not done at all if you were permanently retired? Now's the time to splurge while there is opportunity.
Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

Jags4186 wrote: Thu Jul 15, 2021 8:30 am Klang,

This is a situation where you can selectively increase your spending. You drive a $60,000 car instead of a $30,000 car. You can order the $50 bottle of wine at dinner instead of a $20 bottle (or a bottle at all). You can fly business class on vacation vs economy. Do you have any "big ticket items" that are not recurring expenses but maybe you would have delayed or not done at all if you were permanently retired? Now's the time to splurge while there is opportunity.
Jags4186,

A) I am too value conscious for 60K car

B) "Big ticket item"

1) Car = Toyota Rav4 Prime maybe

2) $3,000 computer controlled coffee roaster

KlangFool
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cockersx3
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Re: Working after Financial Independence

Post by cockersx3 »

Congrats Klangfool! Glad to hear that you found an arrangement that appears to be a "win win" for you and your employer.

Great questions - thanks for the topic. Looking forward to hearing the responses as I am pondering the same questions myself.

Even though I am FI based on our current expenses, I am working because I want to give myself flexibility in the future. Right now "current me" is completely satisfied with the lifestyle my current expenses provide me, and "current me" has no reasonable expectations that spending will significantly increase in the future. However, I also know that people tend to underestimate the amount of changes that are possible over long periods of time, and I know that "me from 10 years ago" is a much different person than "current me" although our spending is about the same on an inflation-adjusted basis. I think it's reasonable to think that perhaps "future me" may want the ability to spend more. By working now, I give "future me" the option to do that without having to deal with the hassle of finding a job, which may be more difficult to do as I get older.

To answer your second question - I plan to continue to work until my BS bucket is full. Right now I hope to continue working until my youngest graduates from high school in a few years, but my BS bucket is like 90% full - so I suspect that I won't make it that long...
donaldfair71
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Re: Working after Financial Independence

Post by donaldfair71 »

Congrats Klang!

A. I love my job. If someone said, "you can do anything you want now, you don't need to do anything for money", I would do what I do every day (and do).
B. I ponder this often. I think the trigger would likely be grandchildren, and wanting to have flexibility to see them often.


I still don't think I will ever just disconnect from my work. I will likely go noncovered employment (part time employment sans benefits but with same salary), collect my pension, and travel a bit when I do leave full time.

I can't think of many things better than choosing to work because you want to, rather than needing to. It gives one a freedom that can't be described, but it also means you can still do what you want to do if the situation works for you.
Golfaddict
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Re: Working after Financial Independence

Post by Golfaddict »

I’d consider it if the pay was right, the work was easy (for me) or I enjoyed it and I had some toys or elaborate trips that I’d want to splurge on. A flexible schedule would also be a requirement.
Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

cockersx3 wrote: Thu Jul 15, 2021 8:42 am Congrats Klangfool! Glad to hear that you found an arrangement that appears to be a "win win" for you and your employer.

Great questions - thanks for the topic. Looking forward to hearing the responses as I am pondering the same questions myself.

Even though I am FI based on our current expenses, I am working because I want to give myself flexibility in the future. Right now "current me" is completely satisfied with the lifestyle my current expenses provide me, and "current me" has no reasonable expectations that spending will significantly increase in the future. However, I also know that people tend to underestimate the amount of changes that are possible over long periods of time, and I know that "me from 10 years ago" is a much different person than "current me" although our spending is about the same on an inflation-adjusted basis. I think it's reasonable to think that perhaps "future me" may want the ability to spend more. By working now, I give "future me" the option to do that without having to deal with the hassle of finding a job, which may be more difficult to do as I get older.

To answer your second question - I plan to continue to work until my BS bucket is full. Right now I hope to continue working until my youngest graduates from high school in a few years, but my BS bucket is like 90% full - so I suspect that I won't make it that long...
Thanks for your post!

KlangFool
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KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

Golfaddict wrote: Thu Jul 15, 2021 8:47 am I’d consider it if the pay was right, the work was easy (for me) or I enjoyed it and I had some toys or elaborate trips that I’d want to splurge on. A flexible schedule would also be a requirement.
That seems to be the right combination for continuing working.

KlangFool
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desiderium
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Re: Working after Financial Independence

Post by desiderium »

KlangFool,

You left the workforce last time when you still had something to contribute. Everyone has a price; being FI raises the price. You are being properly valued for this stage of your life and are able to contribute your long professional experience. Congratulations.

I am in a similar phase, in a high demand/high burnout field and I found I can easily carve out the things that challenge me and utilize my experience. I dispensed with the things I no longer wish to do and have adopted a reduced FTE. I can work, contribute, and have time to explore other interests.

What about your second question? If one is able to contribute and work on one's own terms, what would lead them to stop?

For me, I can imagine health challenges, the pull of family, or the fact that fatigue sets in easier with age ending my career altogether. You mentioned travel, and when the world looks different, the prospect of long and slow travel may take my interest away from work.
Topic Author
KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

donaldfair71 wrote: Thu Jul 15, 2021 8:43 am Congrats Klang!

A. I love my job. If someone said, "you can do anything you want now, you don't need to do anything for money", I would do what I do every day (and do).
B. I ponder this often. I think the trigger would likely be grandchildren, and wanting to have flexibility to see them often.


I still don't think I will ever just disconnect from my work. I will likely go noncovered employment (part time employment sans benefits but with same salary), collect my pension, and travel a bit when I do leave full time.

I can't think of many things better than choosing to work because you want to, rather than needing to. It gives one a freedom that can't be described, but it also means you can still do what you want to do if the situation works for you.
donaldfair71,

1) Thanks for your post!

2) It took me a while to reach this phase. But, it is a great sense of freedom.

KlangFool
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KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

desiderium wrote: Thu Jul 15, 2021 8:49 am KlangFool,

You left the workforce last time when you still had something to contribute. Everyone has a price; being FI raises the price. You are being properly valued for this stage of your life and are able to contribute your long professional experience. Congratulations.

I am in a similar phase, in a high demand/high burnout field and I found I can easily carve out the things that challenge me and utilize my experience. I dispensed with the things I no longer wish to do and have adopted a reduced FTE. I can work, contribute, and have time to explore other interests.

What about your second question? If one is able to contribute and work on one's own terms, what would lead them to stop?

For me, I can imagine health challenges, the pull of family, or the fact that fatigue sets in easier with age ending my career altogether. You mentioned travel, and when the world looks different, the prospect of long and slow travel may take my interest away from work.
Thanks for your post! It makes a lot of sense to me.

KlangFool
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luminous
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Re: Working after Financial Independence

Post by luminous »

Congratulations! I’m glad you found what sounds like a perfect job for you at this stage. 40% raise speaks volumes for your expertise and I hope the job is wonderful.
55/15/30 US stock/international stock/bonds. Hope to semi-retire in 2022.
flyingaway
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Re: Working after Financial Independence

Post by flyingaway »

Money is always a good thing. Even if you are financially independent, you can become financially independent at a higher level with more money.
Colorado13
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Re: Working after Financial Independence

Post by Colorado13 »

Congrats on the new job!

I'm working a little longer although have no financial need to do so. The stock market has been fantastic and my savings/investments from my younger days are compounding beyond my wildest dreams. I've been overly frugal for a very long time and need to loosen the purse strings.

I believe you save one year of expenses every year? I've exceeded that savings rate for many years, so am FI. Unlike you, I've never had a break in employment so I'm ready for some time off.

My explanation for continuing to work is that I'm hoping that international travel is a viable/safer option in 2022. When (if?) that occurs, I need to make up for two years of no international travel. So the plan is to retire next year. If it's a year of "only" domestic travel, that's fine too. 😀
Wannaretireearly
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Re: Working after Financial Independence

Post by Wannaretireearly »

Congrats Klangfool! How will you feel once travel restrictions are back to normal? Did you have a big trip planned?

Perhaps you take the job for a year, and then you're done.
Death and taxes. Only one is under your control!
Ependytis
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Re: Working after Financial Independence

Post by Ependytis »

Klangfool

What makes me go to back to work is having the extra cushion in my portfolio to minimize sequence of returns risk. What makes me retire is when I have that cushion and all of the extras that I wanted are included in my annual portfolio with drawl. As examples, the extras could include a trip of a lifetime, providing my son with a down payment for his house, and or traveling more.
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White Coat Investor
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Re: Working after Financial Independence

Post by White Coat Investor »

KlangFool wrote: Thu Jul 15, 2021 7:51 am Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.

My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work?

B) After (A), what makes you retire eventually?

In my case,

1) Interesting work.

2) The new job's compensation is 40% higher.

3) Better work life balance

A) Work from home

B) Occasional 10 to 15 minutes commute to office.

4) Less stressful and slower pace environment.

KlangFool
The opportunity to serve others and feel like I'm not just wasting my life away pleasing myself.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
Dave55
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Re: Working after Financial Independence

Post by Dave55 »

A - fun and interesting work with great people you trust.
B- not fun any longer.

Dave
"Reality always wins, your only job is to get in touch with it." Wilfred Bion
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KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

luminous wrote: Thu Jul 15, 2021 9:00 am Congratulations! I’m glad you found what sounds like a perfect job for you at this stage. 40% raise speaks volumes for your expertise and I hope the job is wonderful.
Thanks.

KlangFool
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KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

Wannaretireearly wrote: Thu Jul 15, 2021 9:06 am Congrats Klangfool! How will you feel once travel restrictions are back to normal? Did you have a big trip planned?

Perhaps you take the job for a year, and then you're done.
Wannaretireearly,

Yes, I have a big trip planned next year.

KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

White Coat Investor wrote: Thu Jul 15, 2021 9:24 am
KlangFool wrote: Thu Jul 15, 2021 7:51 am Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.

My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work?

B) After (A), what makes you retire eventually?

In my case,

1) Interesting work.

2) The new job's compensation is 40% higher.

3) Better work life balance

A) Work from home

B) Occasional 10 to 15 minutes commute to office.

4) Less stressful and slower pace environment.

KlangFool
The opportunity to serve others and feel like I'm not just wasting my life away pleasing myself.
Good for you!

KlangFool
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KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

Dave55 wrote: Thu Jul 15, 2021 9:26 am A - fun and interesting work with great people you trust.
B- not fun any longer.

Dave
Makes perfect sense to me too!

KlangFool
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KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

Colorado13 wrote: Thu Jul 15, 2021 9:04 am Congrats on the new job!

I'm working a little longer although have no financial need to do so. The stock market has been fantastic and my savings/investments from my younger days are compounding beyond my wildest dreams. I've been overly frugal for a very long time and need to loosen the purse strings.

I believe you save one year of expenses every year? I've exceeded that savings rate for many years, so am FI. Unlike you, I've never had a break in employment so I'm ready for some time off.

My explanation for continuing to work is that I'm hoping that international travel is a viable/safer option in 2022. When (if?) that occurs, I need to make up for two years of no international travel. So the plan is to retire next year. If it's a year of "only" domestic travel, that's fine too. 😀
Colorado13,

Great!

KlangFool
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KlangFool
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Re: Working after Financial Independence

Post by KlangFool »

flyingaway wrote: Thu Jul 15, 2021 9:04 am Money is always a good thing. Even if you are financially independent, you can become financially independent at a higher level with more money.
flyingaway,

My oldest brother and youngest sister had passed away. So, more money may mean less time/life to enjoy the money for me.

KlangFool
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EddyB
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Re: Working after Financial Independence

Post by EddyB »

KlangFool wrote: Thu Jul 15, 2021 8:05 am
Soon2BXProgrammer wrote: Thu Jul 15, 2021 7:59 am
KlangFool wrote: Thu Jul 15, 2021 7:51 am Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.

My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work?

B) After (A), what makes you retire eventually?

In my case,

1) Interesting work.

2) The new job's compensation is 40% higher.

3) Better work life balance

A) Work from home

B) Occasional 10 to 15 minutes commute to office.

4) Less stressful and slower pace environment.

KlangFool
I work from home. good work life balance, decent pay. huge number of vacation days. great benefits.

at times i wish i had a day off every week.. like a 32 hour job.. but 40 isn't that bad without a commute.

i feel productive, and my 'stache isn't being drained. "one more year" might mean an increase in my standard of living for the rest of my life that is meaningful to me. (5 more years, would be more money then i could ever spend, and isn't as interesting)
Soon2BXProgrammer,

<<at times i wish i had a day off every week.. like a 32 hour job.. but 40 isn't that bad without a commute.>>

With my job, I can literally work anywhere in the world except for the infrequent office meeting. And, except for scheduled meeting, I can work any hours. So, I do not have the same reason of not keeping the job.

KlangFool
Being able to work from a location of your choice is nice, but it’s got nothing to do with having a day off; I don’t see how it’s responsive to Soon2BXProgrammer’s point. Also, given the realities of visa requirements, labor laws, and tax rules, it’s not true (at least, not true if the work has to comply with the same standard of behavior imposed on the OP in the recent thread about using a neighbor’s WiFi for a security camera).
Carefreeap
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Re: Working after Financial Independence

Post by Carefreeap »

Congrats Klang Fool, you're in a great place. :beer

I keep getting contacted by Linked In and see jobs I could do and get paid well to do it. It's been tempting.

But...I don't need the money. At this point (turning 60 next month) I appreciate that this phase of my life is about time and making the most of what I've got left and am healthy enough to enjoy.

I'm staying busy with my volunteer work and that "pays" me enough. :D
Every day I can hike is a good day.
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JoeRetire
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Re: Working after Financial Independence

Post by JoeRetire »

KlangFool wrote: Thu Jul 15, 2021 7:51 am Folks,

After 1+ year of unemployment, someone made me an offer that I cannot refuse. So, I am back to work.
Were you previously "unemployed" or "retired"?
My question to the forum is this:

A) If you are Financially Independence (FI), what makes you go back to work?
Not everyone stops working the day they achieve financial independence. I was financially independent long before I was ready to retire.

Once I finally did retire, I got a call 6 months later from my former employer asking if I could come back to help my successor. I did so - working two 8-hour days per week. I was able to work on the fun parts of the job while coaching my successor on the tedious, boring, political and administrivia parts. I enjoyed doing that for a year.

I wouldn't have consulted just for the (excellent) money, since we didn't need the money. I did it to help friends, and to do something I enjoyed. If it wasn't enjoyable, I wouldn't have done it.

My wife works 3 days per week doing something she enjoys. It happens to be a for-pay job, but she would have done it as a volunteer if that had been the only option.

The best thing about being financially independent is the ability to choose only things that bring you joy, and not have to worry if it brings you money or not.
B) After (A), what makes you retire eventually?
I retired when the time was right for me and my family.
Having been financially independent was only one of many factors that went into the decision.
In my case,

2) The new job's compensation is 40% higher.
If you are financially independent, I'm not sure why this makes any difference.
Just remember: it's not a lie if you believe it.
techiegirl
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Re: Working after Financial Independence

Post by techiegirl »

Congrats Klangfool.

I am returning to work as well next week, after 5 year hiatus. I am working for a) insurance and b) a little more buffer in my net worth.
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