Ever wonder: What does early retirement feel like? I retired early in 2012 at age 34 and want to share you all the ups and downs of not working a traditional day job any more.
What's interesting is that my feelings towards early retirement are very different from the initial couple of years. As the pioneer of the modern-day FIRE movement, it's been amazing to see the movement grow.
Today, I no longer consider myself an early retiree, but a stay at home dad and a blogger. In fact, I worked hard during the pandemic to boost our wealth so we can re-retire again! I figured, if I'm going to get locked down, I might as well try and make money online to take care of my family.
Financial independence and retirement are used interchangeably. However, there are some subtle differences. Financial independence is usually applicable to people across their entire lifespan.
Those who cashed out $5 million dollars worth of Facebook stock at the age of 30 are financially independent just like those who saved $5 million in their retirement funds by the age of 65.
Retirement, on the other hand, is a term often used to describe someone in the last quarter of their lives e.g. ages 65 and up. This is why some folks get so hot and bothered if you aren't in the upper ages but say you are retired.
They don't think you deserve retirement because you're not old enough! If you don't want unwanted attention as an early retiree, just say you are unemployed, on sabbatical, or an entrepreneur.
Early Retirement And Financial Independence
The reality is all of us would rather be financially independent earlier so we have more time to enjoy our wealth.
When the director of admissions at UC Berkeley asked why I was applying so early (25), I told her it was because I knew what I wanted to do and felt it best to leverage an MBA degree sooner, for a longer period of time. Little did I know I'd be done 10 years later.
Although I'm no longer considered a retiree due to the endless hours it takes being a full-time dad and maintaining this website, I did have at least one year of true early retirement life after 2012 where I was completely carefree.
For those curious about what early retirement feels like, I'm going to highlight all the positives and negatives I can think of since leaving the workforce in 2012.
What Does Early Retirement Feel Like?
Please note I've been writing about the FIRE movement since 2009 when I started Financial Samurai. Specifically, I focus on Fat FIRE given I choose to raise a family of four in expensive San Francisco. I practice what I write about to help others on their financial independence journey as well.
Instead of always telling you how awesome FIRE and early retirement is, I like to share the good and the bad.
The Positives Of Early Retirement
To understand what early retirement feels like, let's first go through the positives. Then I'll go through the negatives to keep things balanced.
As soon as we get back to normal life, these positives and negatives will be even more pronounced.
No longer having to commute in traffic feels like heaven.
It's funny that not riding the bus was the first positive that came to mind as opposed to workplace politics, stress, or more common answers. I used to leave the house around 7:20am every morning to catch the 7:23am bus around the corner. Despite my punctuality, the bus would either not arrive on time or be so full of people I'd have to walk another 5 blocks just to get on. Now when I see folks crammed in buses I can't help but smile.
With the pandemic raging on in 2020/2021, I'm now considering whether it might be good to go back to work because I no longer have to commute. I'm not super serious about the idea since I now have two young children. However, commuting was a consistent top-3 dislike about my job.
Running errands is easy.
I do all my errands around 10:45am or 2:30pm, because that is when most people are still at work. There's no traffic or lines at the store during these hours and I'm much more efficient in getting things done. I continue to wonder why everybody wants to come to work at 8am and leave at 5pm.
It took me 1.5 hours to drive 20 miles to pick up my parents at Oakland Airport due to traffic the other month. It only takes 35 minutes during off peak hours. Come into work earlier and leave a little earlier. Your stress level will go way down.
In the day of COVID-19, I've noticed neighborhood streets are more crowded during the weekdays. However, there still aren't as many people roaming the streets on the weekdays as there are on the weekend.
Lots of free entertainment.
There is an incredible amount of free entertainment during the week. Part of it is because organizations want to show their community support and free access on weekdays provides the lowest amount of damage to their bottom lines.
Museums that cost $15-$20 to enter are usually free at least once a month. There are also free cooking classes by Williams Sonoma, free interior design parties by AirBnb, free rock climbing lessons by REI, and so on. There are always free music festivals at various public parks as well here in SF.
You learn to become more self-sufficient.
When I was busy working, I didn't have time to figure out how to fix the leaky toilet. I would call the plumber and pay him $150-$250 at a time. Nowadays, I simply search on YouTube for a home maintenance tutorial and voila! Call me handyman Sam.
If I can't fix something I'll chat up the local hardware store attendee and see if he can tell me what's wrong. Having a smartphone to videotape the issues helps tremendously. Learning how to do things myself has also saved me a lot of time and money on rental property maintenance.
Today, I'm doing all the my rental property maintenance with my kids. I figured that by teaching them how to maintain a property, they'll better appreciate the value of money and hard work as adults.
Better nightlife.
Because I used to start work by 7:30am every morning for the past 10 years, I was tired by 10pm. I just wanted to stay in and watch some TV after work. Now I'm always down to go out for dinner or drinks with friends during the weekdays. I've attended multiple events that last until 11pm and am ecstatic to not have to go to work the next day.
Of course, night life is now barely existent during the time of COVID-19, however, things will eventually get back to normal. I'm not exactly jockeying to go out late at night anymore given I have a family. I'm tired by 10 pm!
Better friendships.
Better friends is probably my favorite thing about early retirement. I spend more time cultivating my offline relationships now that I don't work.
Those thin relationships one has on Facebook become stronger as you actually send them personal messages to see what's up and hang out. The more you go out, the more friends you'll meet. This is especially helpful for single folks. Social integration is vital for happiness.
Better family relationships.
I spend much more time speaking to and visiting my family now that I have more time. Spending more time with family is probably the most rewarding part about retirement. The younger you are, the more you appreciate it because you likely have more family still around. While I was working, literally months would go by where I didn't interact with my parents because I was too busy.
In addition, I've been a stay-at-home dad since both my children were born in 2017 and 2019, respectively. As a result, I feel we have a stronger, more loving bond that will serve us well as we get older. Being able to take care of my children full-time is an incredible benefit of early retirement.
The main downside is that to achieve early retirement, you may delay having children until you are older. Then you might regret having children so late given you'll love them so much.
More comprehensive blog posts.
Good posts can take a long time to write. But with so much more time now, I can afford to write meatier content that can help more folks. Meatier content also tends to do better in the search engines, bringing in more traffic, and more revenue. In the past, I'd write 750 word posts. Now I'm able to spend more time researching to produce posts that are double in length on average.
What's interesting is that longer blog posts also rank better in Google. As a result of me writing longer blog posts, Financial Samurai has grown tremendously since 2009. With tremendous growth comes more online income.
The amount of online income I generate is a complete surprise. I highly recommend you start your own site as well in early retirement. Connecting with others and keeping mentally stimulated is fun!
More purpose in life.
Most people I know don't believe their purpose in life is to do whatever they do at their jobs. Plenty of folks start getting depressed when they talk about spending all their time at a job that doesn't really make a positive impact. They see a job as a stepping stone for something greater and can't wait to get out. Once you no longer have to work for a living, you hone in on exactly what you want to do that provides meaning.
I got this one thank you card from a reader in 2016. In 2024, I continue to get thank you e-mails from readers too. It's very gratifying to help strangers in the world get their finances in order. Since 2009, many of us have grown up and grown financially stronger together. Finding my purpose has been one of the biggest positives of early retirement.
In better shape.
Without having to sit in a chair for hours at a time, you'll naturally burn more calories being more active. At 5'10”, I used to struggle maintaining a weight of ~165 lbs. Now it requires less effort because I now play tennis, bike, walk, or hike at least three times a week compared to just once or twice a week while working. Being in better shape feels great. It might even extend your life, who knows!
Even during the pandemic, I have been playing tennis and going for walks 5X a week. Exercise and sleep are so important for mental health. Your health is the most important thing. Hence, early retirement can make you healthier and happier for longer.
Your aging slows down.
I found my first gray hair at 33 in 2011. Several more gray hairs sprouted out in early 2012 and I thought the dam had broke.
At 47 years old in 2024, I no longer have any gray hair. It's as if a new dam was built behind the old damn. I also still have a full head of hair despite showing some recession in 2011 as well. When you're in the thick of work, you don't realize how much stress you're under each day until you walk away.
You can always keep busy.
One of the biggest fears working people have before retirement is figuring out what they are going to do with all their free time. I worried how I was going to go from working 70 hours a week to just writing for 20 hours a week and playing sports in the afternoon.
If you have a hobby you are passionate about, you don't have to worry about not being able to fill the void in retirement. There is an endless amount of things to do.
No fear of getting laid off.
When you're retired, you no longer fear getting laid off. No employee is ever safe in this hyper competitive world. You could be a star performer, but if your new boss hates you for whatever reason, you're done.
I used to worry about whether I'd be called into the HR's office due to a recession, underperformance, complaint, error on my expense report, etc. Now there is no worry.
Related: How To Be A Rockstar Freelancer And Make More Than Your Day Job
A more positive disposition.
Do you know that smile you get after carving down a black diamond or riding a jet ski over some waves? You will catch yourself smiling without even knowing because people will randomly smile back at you because you're smiling at them. Smiling when you don't even know it is probably the #1 outward signal for true happiness.
The ability to be present with your kids.
Our boy and baby girl are the most precious things in the world to us. They have crystalized the value of early retirement. Before our son was born, it was nice to travel, sleep in, play sports, and write. But now, I'm excited each morning to give my son a hug and play with him for hours.
Every day we thank our lucky stars that we get to spend the critical first five years of his life raising him before kindergarten. They grow up so fast!
The Negatives Of Early Retirement
Become more impatient with delays and waste.
Traffic and long lunch lines used to annoy me, but now they really annoy me because I hardly ever experience them anymore. I get annoyed with myself for going anywhere during peak rush hour. Anytime someone wants to meet, I schedule for non-rush hour times.
When I'm in traffic, I have to remind myself I no longer have to regularly deal with such jams on a regular basis.
Gets lonely sometimes.
While your friends and acquaintances are busy working, you're sometimes busy doing nothing. If you don't have a partner or family, then you might end up having breakfast, lunch, and dinner alone. I've built a small network of work-from-home, unemployed, or work at night friends to play tennis and hang out with.
I'm trying to meet more people through a softball meetup that I've joined. After a couple years, I've made two nw friends. One even got me into Tesla stock at the end of 2018! It's easy to feel disconnected if you're always working from home.
Easy to get lazy.
Before my son was born, I found myself taking hour long naps after lunch, watching too much sports on TV, and chilling in the hot tub for hours. It takes a lot more discipline once you've retired to push yourself to do something meaningful because nobody is telling you what to do.
Potentially less money.
This one is obvious, but maybe not. You only voluntarily retire and stay retired if you have enough money to support your desired lifestyle. It's a different situation if you are forced into retirement. It did sting a little bit to no longer have a healthy W2 income the first six months.
However, just like how we adapt quickly to a nice bonus or raise, we also adapt quickly to a loss of income. The fear of running out of money in retirement is overblown.
The truth of the matter is, Financial Samurai now makes more money than I did as an Executive Director at a major investment bank. Even better, I spend 80% less time working and have 200% more fun.
Vacations aren't as exciting anymore.
If every day can be considered a vacation, vacations no longer carry the same amount of excitement. I used to love taking five to six weeks of vacation every year.
If my old job could grant 10 weeks of vacation a year, I would have stayed on for at least another five years. Now that we can go on vacation 365 days a year, it's just not that exciting anymore. We did travel for 6-8 weeks between 2012 – 2016. However, by the end of 2016 we were completely traveled out. All the churches in Europe started looking the same.
Now that we're stuck at home or at least stuck within driving distance of San Francisco, we are thankful that we traveled so much!
Related: The Negatives Of Early Retirement Nobody Likes To Talk About
Other Observations After Early Retirement
Spend less time on social media.
I spend probably 50% less time on Twitter than when I was working. Perhaps it's because Twitter was a great way to pass the time during commutes or in between meetings. I also continue to spend very little time on Facebook except for my tennis team group page.
Spending too much time following the news is unhealthy. There is so much fear mongering and pitting sides against each other to gain clicks and views. I encourage everyone to spend less time on social media and the news to be happier.
Know a lot of unemployed people.
No matter what time during the day I go out between Monday and Friday, there are tons of people out on the street or hanging out at the tennis courts. When you're working, you think everybody is holed up in an office building and only comes out during lunch or when the clock strikes 5pm. In reality, plenty of people have flexible work schedules.
What's interesting is that I also met a lot of unemployed husbands who figured out a way to convince their wives to continue working! They weren't ashamed at not being the breadwinner. They were proud! Here are some of their stories.
Discover so many different ways to live.
When I was working I just figured most people just had a normal 8am – 5pm day job. But during my time away from work I've met dog walkers, nannies, professional athletes, teachers during summer vacations, government employees who retired early with great pensions, bartenders, strippers, bouncers, tennis teachers, coffee shop owners, small business owners, and plenty of online entrepreneurs who enjoy a lot of freedom during the day.
Related: Abolish Welfare Mentality: A Janitor Makes $271,000 A Year
No desire to play golf.
The cliché is that once guys retire we end up playing golf all day. I thought I would love to play at least once a week with all my free time. Instead, I found the game to be absolutely boring when I had to play it alone or with strangers. Further, the game takes way too long.
Feel inspired by older workers.
Every time I go grocery shopping, I bump into cashiers and baggers who are over 60 years old. They probably only make around $13 an hour. Their hard work inspires me to not take things for granted and keep this site going. Everybody starts off with different opportunities in life. We've got to make the most of what we've got.
Just Want To Feel Like I'm Contributing
So much of your identity is wrapped up in your occupation while still working. But once you're out, you lose a support network you've grown so accustom to. It's a disconcerting feeling to no longer be relevant to perhaps hundreds of people.
If I don't feel useful to someone, I feel like a loser. Hence, I try and stay busy writing online, volunteering as a foster kid mentor, doing work around the house, and coaching high school tennis while I'm not taking care of my baby boy. Retirement takes away that good feeling of having someone depending on you for guidance.
Since 2009, Financial Samurai has given me something fun and purposeful to do. Being able to write books in retirement has also given me a sense of purpose. Writing Buy This Not That, a WSJ bestseller to help people make better financial decisions was truly satisfying. As a result, I decided to write two more books with Portfolio Penguin.
Sometimes wonder what else is there in life.
Early retirement and the freedom to do what you want is nice, but it can get old too.
When I was busy working, I didn't have much time left to think about philosophy. With so much more free time I sometimes think, is this all there is to life? Starting Financial Samurai has given me a strong sense of purpose. I recommend all retirees start their own site as well to find their tribe online.
It gets harder to stay retired over time.
The first six months of retirement were full of excitement, fear, and joy. As time went on, I adapted to my newfound freedom by creating a routine that best suited my desires.
Once I mastered my routine life got incredibly easy. When life gets easy, life also begins to get boring. With such a strong economy since 2012, I couldn't help do some consulting with several fintech companies and see if I could build Financial Samurai into something larger.
See: Staying Retired Is Impossible Once You Retire Early
You need much less money than you think to be happy.
My biggest surprise since leaving my day job is realizing how much less I need to be happy by about 30% – 50%. One of the reasons is that once you retire, you no longer have to save for retirement.
It feels foreign to spend 100% of your retirement income or passive income, but that's what you get to do if you truly have enough. Further, you are so much happier in retirement that you don't need to spend a lot of money to make you happy.
Early Retirement Is Worth It
I hope you are no longer wondering what does early retirement feel like after reading this post. Overall, early retirement is great, but there are also some negatives of early retirement people don't like talking about as well.
Early retirement isn't a magic bullet to happiness. Like a marriage, you still have to wok at early retirement. Otherwise, you might end up like some early retirees who get divorced, despite having children at home.
There are studies that show death comes quicker after retirement due to a lack of purpose. With the internet and so much good we can do once we have our free time back, I can't see how anybody would ever feel permanently lost in retirement.
If you don't like early retirement, you can always go back to work!
Things To Keep Busy In Early Retirement
Try volunteering at a charity or mentoring a child if you start feeling aimless. Everybody could use a helping hand.
Retiring early is a blessing because our bodies still allow us to climb the steepest Mayan steps and start the most daunting businesses when we still have the energy.
Although I no longer consider myself an early retiree due to two kids and the growth of Financial Samurai, I still recommend everyone try to retire early. You will surprise yourself on the upside because you will naturally start doing things you enjoy.
Hopefully this post gives you some inspiration to get up a little earlier, save more money, and take calculated risks to retire early as well. The feeling of being able to do whatever you want is priceless.
With a wife and two young children now, I've come out of early retirement to make supplement retirement income. However, once there is herd immunity, I plan to re-retire over the next couple years. In the meantime, my goal is to consistently generate $300,000 a year in passive income to live a comfortable retirement lifestyle.
Reach Early Retirement Sooner By Staying On Top Of Your Money
If you want to reach retirement sooner, sign up for Empower, the web’s #1 free wealth management tool to get a better handle on your finances.
After you link all your accounts, use their free Retirement Planner that pulls your real data to give you as pure an estimation of your financial future as possible using Monte Carlo simulation algorithms.
There's no rewind button. Your retirement is too important not to get right. Are you in good shape?
Generating Passive Income With Real Estate
Real estate is a core asset class that has proven to build long-term wealth for Americans. Real estate is a tangible asset that provides utility and a steady stream of income if you own rental properties. If you're someone who wants to retire, real estate is a fantastic asset class.
Given interest rates have come way down, the value of rental income has gone way up. The reason is because it now takes a lot more capital to generate the same amount of risk-adjusted income. Yet, real estate prices have not reflected this reality yet, hence the opportunity.
My favorite two real estate crowdfunding platforms are:
Fundrise: A way for accredited and non-accredited investors to diversify into real estate through private eFunds. Fundrise has been around since 2012 with now over $3.5 billion in assets for over 500,000+ investors. The platform predominantly invests in Sunbelt real estate where valuations are lower and yields are higher.
CrowdStreet: A way for accredited investors to invest in individual real estate opportunities mostly in 18-hour cities. 18-hour cities are secondary cities with potentially higher growth due to job growth and demographic trends.
I've personally invested $954,000 in real estate crowdfunding across 18 projects to take advantage of lower valuations in the heartland of America. There is a strong demographic shift towards lower cost areas of the country thanks to technology and the pandemic.
Both platforms are Financial Samurai sponsors and financial Samurai is a six-figure investor in Fundrise funds.
What Does Early Retirement Feel Like is a Financial Samurai original post. All rights reserved.
I have just recently retired, it’s been about 3 months. It is def one of the oddest feelings I have had trying to cope with it all. It’s supposed to be the happiest time of my life but I am having a hard time adjusting. Thank you for posting this, this article I read talks about how to deal with these feelings and it was helpful, https://www.financialsamurai.com/the-negatives-of-early-retirement-life-nobody-likes-to-talks-about/ Thoughts on it?
It’s one of the classic FS articles that has gone viral several times thanks to CNBC and MSN among other outlets. Best of luck in your retirement!
I thought I wanted to retire in 2015, but I was miserable. i was only 59. After 3 years of feeling lost and depressed, I went back to work. This is harder when you are older. Ageism is out there. I like working. The money is not really a big reason. I guess I’m one of the strange ones. Maybe I’ll get it right next time :). Seriously, its not for everyone. I think many people retire too early.
I liked that you said that one reason to consider retiring early is that you will be able to acquire a better social life. I have been trying to determine when I should retire but I have been worried that I would end up being bored since I would be home all day every day. I will be sure to consider retiring and moving to a social community since I now understand that this opportunity will allow you the chance to make new friends and spend a lot of time enjoying your social life.
This may sound obvious, but travel. That doesn’t have to mean a trail of Amex hits around the globe. It can mean join a hiking club (at any level). National parks have volunteer programs that allow you to stay free++ if you help for a month or two. Staff on charter yachts etc.
Back to hiking. The average cost to thru-hike the AT is $1,000 per month (all aspects included). It takes 4-6 months to thru-hike. I know people who have done this over 10 years or times now, or the PCT. Live half a year on $5,000. You become family in the Hiker world. You get in the best shape of your life while enjoying nature on a level most people can not imagine.
Hope this sparks ideas!
Thanks for the great post. Do you know where I can read more posts by other bloggers on what they’ve chosen to do with their time after retirement? I’m getting closer and am starting to wonder how it works out for people.
Thank you so much for sharing! You really highlighted some issues of early retirement that I have been experiencing and offered me some opportunities to capitalize with my time and energy.
What a great article and comments! However, what surprises me is that there are almost no comments on how to deal with healthcare costs / insurance for people who retire early. I am planning to retire at age 50 and, although I have a solid financial situation, I worry about the escalating costs of healthcare and what might lie ahead. Any word of advice? What are the viable choices for health insurance for early retirees in the U.S.?
Sure. We pay $1,600/month for a family of three for health insurance. Platinum plan. You can use a agent or an exchange.
Thanks, Sam! I will look into it. However, with the uncertainties around the ACA, I wonder if there will be such choices when I am ready to retire in 2 years (June 2020). It is a gamble. I can always move to another country, I guess!
This is right on the money. Unless you plan to travel a lot, you don’t need nearly the money the ‘experts’ say. I am always looking for fulfillment. Yes, when I was working I didn’t have time to think about it. Now, I challenge myself to do things that are meaningful.
100% of people who work sleep their way to the top, so a positive of early retirement is that you are forced to increase your dating skills.
A negative of early retirement is that you don’t have a company monitoring everything you do online anymore, so you’ll get really depressed when you are finally free to explore how depraved your interests are. When big brother is away you can bring out the toys.
Great article! Having a purpose is an essential. I know quite a few people who could easily retire in a high cost of living area and still live their lifestyle but keep working because that’s their purpose/drive. I’ve found that this is especially the case for business owners, as opposed to highly compensated employees.
Keep up the great writing Sam.
Yes being retired is wonderful and the pros greatly outnumber and outweigh the cons. Financial independence also made working more pleasurable and less stressful, knowing that one of my two ‘buckets’ was already full – I could check out whenever the time was right for me.
One thing to add to your list- I no longer look forward to weekends nor do the same things as before on weekends due to all those crazy working stiffs trying to cram their freetime into those same two days. (same goes for holidays). Friday? What’s a Friday? That one tends to rinse off my working friends ;)
Definitely. I try to not go out during the weekends due to the crazy amount of traffic at public venues like the park. I like to reverse the ratio of two days of work inn sat/sun and 5 days of doing whatever.
Traffic and congestion really bummed me out nowadays. It’s amazing how so many people do so many things at the same time. Like going to lunch at 12 noon and waiting in line.
AGREE! I do that now, even though I’m not retired. At my job you get paid more to do the same work on the weekends, but people hate it. I sign up for those shifts so I can get weekdays off!
Point! I have been self employed for 32 years and virtually my entire adult life. Married for 26 years. The Mrs stopped teaching to raise our girls. We always planned as much as possible during the weeks while the rest of the local society was doing the 9-5 M-F.
The more urban the environment, the bigger the need to zig when the herd zags!
Great Article!! Thanks for sharing! We have a lot in common! I was just laid off and I’ve considered calling it quits in my early 40’s. I may work for another few years so that we can pick up a few more rentals to fully secure a decent life post corporate Silicon Valley life!! I’m wondering though, why aren’t you in Thailand for 6 months? Sure beats our beaches in Cali! @buyrentsell
“If you don’t want unwanted attention as an early retiree, just say you are unemployed, on sabbatical, or an entrepreneur.”
This is why we like to just say we’re “digital nomads” or “freelance writers/coders” when we travel otherwise it takes forever to explain and people get freaked out. Retires in their 30s are purple unicorns.
Great list of pros and cons in retirement! I’ve actually become more patient in traffic because whenever I get stuck, I’m like “oh well, where do I have to be”, whereas when I was working, I’d be livid because I’d missing a meeting.
Retirement is awesome! Can’t imagine I ever thought I’d be bored and directionless. You’re only like that if you choose to be like that. So many opportunities out there! And being FI makes you much more confident (exactly as you said, ‘the longer you are retired, the more confident you become’) so you’re willing to try new projects that I never would’ve while working.
Hi Sam, great to see you returning to this perspective and updating your thoughts as your journey continues. These things don’t have a clear cut answer, and I often find myself mulling over the pro’s of having structure and motivation in my days through my work, versus having more freedom to explore my potential in other areas.
Was very surprised to hear your lack of desire for golf though! That’s one thing I thought I’d never get sick of, but can understand how it might become boring playing with random people, and the time it takes versus other things you could be doing. When you try to improve too much at it pass the sweet spot of a ‘teens’ handicap it also becomes too serious and the fun can go out of it…
Really like these genuine reflections Sam, hope you keep coming back to this and sharing how your views change over the course of your life.
Cheers, Frankie
I’m not retired or financially independent yet, but I work from home (and currently not very many hours) so I can still relate to a lot of them. ESPECIALLY the impatience with delays, traffic and long lines. I time all my trips and errands so I never have to leave the house during either rush hour, but when I do get stuck in long lines at the grocery store, rush hour traffic, etc, it just seems to make me even more fed up then before.
When I did a temp job for a bit a few months ago, I was so fed up with meetings, inefficient workplaces, etc. Such time-wasting – it’s so much more obvious when you work from home and can just sit down and get stuff done.
Also, it’s way easier to be lazy now…
Hi, Sam: I think financial independence is already its own end goal, as for what to do afterward, FI should open up more options, not fewer, and retiring early (before age 50, or even 60) is probably not one of the best ones.
Even though I have enough to retire at 51 ($~7M liquid net worth, not including home), I’m still working because my work is interesting and it keeps me engaged. All my coworkers who retired in their 30s or 40s end up still working in some capacity. I happened to attend a 2nd rate college and basically drank beer and did nothing for 4 years, I can tell you that was really the closest thing to going to prison. I tested the water again a few years ago by taking 3 months off, all I did was going to coursera and learned a new set of skills that are interesting and challenging, and guess what, they are work related!
A lot of people say they’ll start volunteering when they retire, well, it’s simply not for me. Try volunteer a few weekends in your local charity to learn what exactly it feels like. I still volunteer once a month but I’d rather keep working during the weekdays and donate the money to charities than volunteering full-time. It also helps our kid is still in school, so until he goes to college, we’re practically home-bound and can’t go anywhere. An uncle who retired early and travel extensively around the world stopped after a few years told me: after a few years he feel traveling was like a chore, and going from places to places he sees the same problem everywhere. He still travels but only once or twice a year for short duration, but no longer spending months like a vagabond in foreign places where he barely knows anyone and has no connections.
I think financial Independence is already a great goal to achieve, it’s a million times better than the spend-drift, to-hell-with-my-retirement-let-government-and-my-kids-take-care-of-me generational altitude. As for what happens after financial independence, we should really encourage people to live up to their full potential, like start a business, or find more interesting line of work, or contribute to society in a different way, etc… and I suspect keep working is still one of the better options than not working.
Enjoyed reading this, thanks.
Excellent post! … I don’t believe I will have any issues finding time to be busy and I have a bucket list of things to do and see. My issue will be transitioning from accumulation to spending that I believe I will struggle with as I have been doing so for 33+ years :-) not sure I know how to spend :-) … my goal since my dad & mom passed away from cancer at the young ages of 60 and 64 respectively was to retire from the grind of corporate America by the age of 55. I will be 55 in October…and have accumulated aggressively well enough to hang it up and start enjoying the fruits of our labor with no debt … however I have 1 more year to be eligible for a small pension and 100% vested in company contributions to my 401K … so my date is 1/1/2020 … then I’m done … however … the hard part will be staying engaged for 21 more months as I see light at the end of the tunnel. Any suggestions for those that have experienced what I’m going through … accumulation to spending and engagement when the end of the tunnel is so near ?
Going from saving to spending is one of the hardest things I’ve ever had to do. Six years after leaving my day job, I still cannot help us save over 50% of my after-tax income. It is Pretty irrational since I already achieved my number, but I just can’t help it. And then when the new administration raise the estate tax to 22 million, I just decided to keep on going.
Just start small and work your way up. I started with better food and beverages, and then I did some nice landscaping, and then I bought a hot tub, and then I returned the Honda fit and bought a range rover sport with cash.
But of course I downsized My house by $1 million in 2014, and 2017 I sold my old house for 2.74 million. So I’m for sure going with cash flow and cash. So I’m donating my time, my money, and trying to spend more on my parents to enjoy the remaining years of their life. But they don’t seem to want to except my money because they are also financially independent.
It’s a weird transition for sure!
Related: https://www.financialsamurai.com/things-worth-spending-more-money-on-better-life/
Great post and a nice perspective if I get there some day. I think you need to be ready and ensure you have planned your retirement well. Guarding against becoming lazy is very important.
“Social integration is vital for happiness.”
Disagree!
I sometimes feel that my maternity leave is like a glimpse of early retirement except it’s a lot busier feeding and taking care of our baby than a traditional retirement, I suppose!
I try not to go out or meet people/friends during peak time traffic hours too.
I like to be able to spend more time with family as well- it’s nice when your quality time to spend with loved ones is more spread out throughout the week as compared to two days on the weekend :)
Sam,
Great post as you brought up some things I never considered about early retirement. Here’s a few things I’m looking forward to immensely:
1) NEVER wearing a necktie again. In fact, other than a couple of sport coats I plan to give away all my dress clothes, ties and suits to charity.
2) Never having to appease co-workers or clients ever again. This is important as I feel that with clients, I sometimes have to suck their arse and I hate myself for doing it.
3) One word that will no longer exist in my vocabulary; the word Mandatory. I’ve always despised hearing that word and there won’t be room in my life for that word any longer after I retire by 2023!
I think people only “retire” from things that they don’t like doing. Anyone would be glad to retire from working down a coal mine. If I’d been doing some tough physical labour for years, then I would feel I justified in relaxing for however long I wanted.
My feeling is that the type of people seeking financial independence, rather than early retirement, want to be free of the constraints that working for an income puts on them.
I’m in that category. I want to be able to make my own choices each and everyday, about where I go and what I do.
Having nothing to do, getting bored, is not an issue for me. As you say there are always things to do around the home etc.
As for pondering the philosophical side of it… is there more to life? Well, I try not to think about that too much!
My biggest issue is definitely wondering what my place is In the world. I’m working on that though.
I have also found that I’m way more social than I ever was at work now. I have time at night to actually get out and do things, and pursue hobbies and interests.
Great post. My wife keeps saying “Can I quit yet?” We would be fine if she did, but I say one more year just until we get to the 18 month cobra window until Medicare, or maybe we need to get that book of yours on negotiating a severance packag. Then she says, “ Do I have to work after I retire?” I said “No that’s why we saved. Only if you want to.”
Beware of the one more year syndrome!
https://www.financialsamurai.com/overcoming-the-one-more-year-syndrome/
Wow. Uh oh you nailed it. That is exactly where I am.
I’m not retired, but these two resonate with me:
“No fear of getting fired”
“Sometimes wonder what else is there in life”
186 comments and growing! You have one nice site, Sam.
I stopped working in the middle of last year, and I can add that it is great. One of the great things is that i addition to no longer commuting, is I no longer need an alarm clock! What a joy to wake up when my body wants to. I don’t sleep late, I wake up early because I do, and I like it. But not because of some irritating buzzing machine.
More time with the spouse… it’s great but sometimes it’s a double edged-sword.
I do agree about finding a purpose outside of work, it’s so important. Fortunately, I was long into seeking and working on this way before I stopped working. There is a big wide world out there beyond the office. Finding is it the greatest journey!
This is a very comprehensive post, nice work. My early retirement experience is narrower because I’m a lot less outgoing. Mrs. RB40 still works too so that put some limit on my early retirement experience.
I agree 100% with the traffic jam problem. It’s ridiculously annoying now. Luckily, I rarely have to deal with it. Travel is still fun for us because we didn’t splurge that much due to school and job constraint. A few weeks per yer is not bad. Ideally, I think 4-6 weeks per year would be fun. Anymore and travel would be come tedious.