Early retirement is not all it’s cracked up to be and why we went back to work
I usually ‘early retire’ in between contracts but when it was around 2020 around the start of the year when I lost my contract (pandemic woes), that’s when I really thought: Okay, I truly need never have to work again if I do not want to, and I will just hang out and chill.
I turned down contracts that sounded crappy, or paid low, left and right, and felt at peace with myself, and I almost thought I’d never take a contract again – what for? With this kind of environment with people asking me to go and commute to the office DURING A PANDEMIC?
I threw myself into my side hobbies – blogged more, social media posting increased, I upcycled something like 60 new pieces, I read a personal record of 217 books and by the end of 2020 I was on the floor, bored out of my skull. I started to lose interest in doing all of my hobbies because they became a bit like a “well, that is all you CAN do” sort of situation.
But… pandemic…
Sure, the pandemic had a major part to play in all of this. Without the pandemic, I’d be out there stuffing my face with pastries, thrifting, maybe reselling a lot more or creating pieces and then selling them by starting a shop.
…but even so. I thought about it, and it means that my life without work, would be one of hedonism (cake) and shopping (thrifting), with… you guessed it – work! I’d be likely starting a shop to sell upcycled pieces, or re-sell thrifted ones. Or maybe post more style/shopping things.
I didn’t really have anything else, to be honest.
I had homeschooling with Little Bun, and maybe in my new home I’d have a garden to putter around in, but there wasn’t much else.
I missed using my brain
Yes, I use my brain when I blog, do social media and so on, but using my brain for work – technical, hard, interesting work – is another thing altogether. I never hated my job, and very much thrived and loved when I could use my brain for it, not to mention the fact that I was also paid well for my efforts.
I felt antsy
There was only so much I could do. I am not, and have never been someone who can sit still and “chill”. It’s why I do not enjoy vacations where you just lie on the beach and do nothing (I can do that at home on my bed, and I really dislike sand getting into everything).
I didn’t want to earn 1200% less to work
I considered a job that was more low-key as an option, maybe like working at Starbucks or something but then I realized I’d truly hate it. I didn’t like those jobs as a teenager, and I sure as heck will not enjoy it now. Maybe in a bookstore? Library?
But then what’s the point, really, if I am going to squeal that I have retired, only to work again but at something low-key and low-stress just to use up the hours in my day?
Again, I did not hate my job (on the contrary), so I didn’t see the point of working for minimum wage when I could make 1200% more at my real job even though I could not just ask to work 20 hours a week (all contracts are 40 hours).
I would have started another business
The only other alternative would have been starting a small business on the side, but again, that’s just work, and merging my now carefree hobbies into a serious endeavour.
I take everything I start, pretty seriously (it’s both a good and bad characteristic), and I’d have thrown myself into this small side business to make sure I had a new website, social media setups, proper boxes (can’t send this stuff in ratty old reused boxes from Amazon), stickers, wrapping paper, business cards… it would have just gone off the rails in terms of work (in my opinion).
I also would not have loved turning my hobbies into something I now have to manage and think about. The whole point of a hobby is that it has zero stress, otherwise it becomes WORK.
What’s with the ‘we’?
My partner early retired in 2019 to pursue his academic dreams. He is in his second year and he is thinking he doesn’t want to teach any more, not after seeing how the teachers are, and how the students are.
He had grand thoughts about sharing his knowledge and really inspiring people, having great discussions, but none of that has happened from what he has seen. He’s seeing that undergraduate may not be his level and I always remind him that they’re coming out of high school, it isn’t like they have had life experience like he has.
He’s not exactly thrilled.
He has decided to finish his undergrad, study books on his own and discuss topics with his one similarly enthusiastic friend on Skype every month and take contracts (like me) on and off to pay for things like my insistence on going to Japan for a full month and budgeting at least $20,000 for it ($10K each, though I will spend $15K myself, knowing my propensity to enjoy life and YOLO*).
He doesn’t need money to live his barebones retired life, but if he plans on traveling with us and I would also like to spend a few months up to 6 in Europe, starting in France and traveling the countryside, he is going to need more money than he budgeted for.
*YOLO = You only live once
And there you have it. That’s essentially our reasons why he “early retired” and now wants to go back to work occasionally, and I will likely never stop working like this by taking contracts on and off my entire life.
Have you ever thought about early retirement?
10 Comments
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Hawaii Planner
I think about this a lot, and have a pretty good sense of what my “retired” life will be like. And for me, “retired” means I won’t work a super high paying career job anymore, but not that I won’t work. I want my finances to support me having the flexibility to: work, work in a lower paid job for fun, work part time, not work, take breaks between roles, etc. Right now, I’m in the big career phase, but am winding down. To your point, it was easier to put in a few more years here while I’m making the big money, vs take 5-7 years making a lot less somewhere else.
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Tim
You have to find what works for you with respect to work and the rest of your life and often that is a LOT harder than most people think. After all, we often assume things about ourselves…like I could be happy doing ‘Y’ forever only to realize six months in that ‘nope this isn’t working.’
Honestly, it took me about 2 years of leaving my career to start to hit my happy point where I had enough hobbies (and for the record you actually need more hobbies than you think with retirement) and then decided to add in some part time work after realizing I really enjoyed my volunteer time at the school library. I found ‘work’ that makes me happy and I would have literally never guessed it until I tried it (shelving books). So I got a part time job at the public library….with a pension and great benefits. Oh the irony since I just wanted a bit of work to help keep in involved in something with other people and a bit of extra hobby money but now I have better dental coverage than when I had my career job.
There is no right or wrong amount of work during retirement. Find what works for you. If you love your: “do a contract and take six months off afterwards” then keep it up. If not, find the right blend for you. We really need to get past thinking of retirement as a binary choice of either 1 – full time work or 2- no work forever. There is a LOT of room between those extremes and all of them can work…you just need to find your particular combination.
Good luck on what ever you choose!
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Sarah
Most of the time, my work is fun and challenging, I just hate being a slave to the clock. I think I could absolutely enjoy a mini-retirement or part time work, but these things don’t really exist in my field.
Our family has reached a low level of FI (frugality + selling and moving to a LCOL area), but I have a hard time imagining actually quitting. I am very good at just chilling (Type B), but I’ve noticed in the pandemic that I’m way lonelier without the regular interactions and friendships at work. I also need structure. Like you, I’d probably look for another job to keep busy, but why would I take up to a 90% pay cut (vs min wage) when I could just keep doing my job?
I’m interested in seeing how/if high-achieving women in my cohort actually manage to RE (e.g. you, Revanche, StackingPennies). So far most of us seems like we’re close but not ready yet, but I know I will probably keep moving goalposts!
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Gail
My husband was sort of forced into retirement at 55, but then did not work at anything else that was paid for more than a year or so. It was his decision. He has kept busy and alert with his personal study and writings/research of history related to his family and their origins, and he goes to the gym in non-pandemic times. I continued to teach until age 64 because I enjoyed it, and when I retired it was because of wanting more family time rather than devoting weekends to prep and grading essays. I did return for a 6-week stint and immediately knew I was glad I had timed retirement as I had.
Now when there is no danger of virus I am a grandmother and school volunteer, an avid reader and a much better cook than before. We did travel some pre-pandemic, too. No regrets. I guess I liked my life both ways. I am glad for this greater amount of time with my husband more than anything. That is my form of YOLO. Everyone is different–it took me long to accept this and not compare or try to do what others say is “right” regarding working as a mom, when to retire, etc. In fact I still need to work on it.
You seem to truly know yourself, Sherry, and to be flexible–both of you– enough to alter plans as times and your situation change.
Mike
Love how you voiced this.
I too know I must keep my brain busy. It’s a great experience to “retire” early and have the ability to do so. And I have found it’s amazing to be able to go back to work, volunteer, have hobbies, or whatever you do with your time that you enjoy. I think the key is to make sure you enjoy how you spend your time, if you’re getting paid or not 😃