If you had the money to retire now, would you?

Share your answer in "comments" below:

Comments

[John]

I do have the money and have no plans to retire.

I could easily live off just the dividends from my investments but choose not to.

Work keeps my mind busy and gives me something to sneak away from.

My best friend is in the same position. He just left to move across the country to take a new job for 2 years.

Why?

We think retired folks are a bit “retired”))))

[Retired Syd]

John:

Very interesting, I think I might be jealous, having a job you like so much that you don't want to retire even though you have the money!

Now, I'm also interested in your "sneak away from" comment--are you meaning that when you're off on vacation or something you appreciate it more because you're sneaking away from work?

Thanks for your contribution.

(Almost) Retired Syd

[John]

You have it perfectly

My job keeps me young. I work as a manager and my team members are all in their late 20’s early 30’s. I watch them buying their first homes and starting families and remember when.

But when I want to I just disappear to go skiing at Whistler or to play golf.

At parties I notice the retired folks just do not seem to be as with current events, business and life.

So think twice or better yet switch to a job that is fun.

You will be free. If the new job is not good then you can fall back on retiring.

[Retired Syd]

How about this: I try retirement first, and then if my brain seems to be shriveling up for lack us use, THEN I go back and get a fun job? (And with that time off, perhaps my brain will be free to guide me in the direction of something fun and fulfilling.) Since money won't be an issue,(since I was already planning on living on a fixed income) perhaps it will be pursuing a passion that I'm not even aware of yet!

Hmmm . . .

Retired Syd

P.S. Isn't the blogging going to keep me young? Most of my (not very old) working friends don't even know what a blog IS when I tell them about mine!

[John]

A potential downside to your approach is how employers may view you.

If you are happily employed and at the top of your game then everyone wants to hire you and the dream job are easy to get.

If you are retired and trying to get back in it becomes difficult to break in.

I work in the Internet advertising business and it is definitely that way. If you are in the business, everyone wants you, if you are tying to break in, no one will give you a chance.

But all that aside, enjoy your retirement. Each person is different.

[Retired Syd]

All very true.

Thanks for sharing your thoughts.

Retired Syd

[boomie]

I retired at 50.
Here's my post:
http://wastrelshow.blogspot.com/2007/05/how-to-retire-at-fifty.html

I got the RV, did the whole 9 yards. Went back to work in a year. Retirement is so over rated. Now, self-employed and doing what I love.
Live and learn.

Enjoy the time off. You'll be back.

[Retired Syd]

Interesting, we'll see. But I think it depends on how you define retirement. That kind of leisure (time spent exclusively on leisure) would not be for me either. But I plan on including activities that some might consider "work" but 1) probably not for money (or much), 2) definitely not in my current career field, and 3) definitely not 8-5.

More and more people are deciding to "work" (maybe take the opportunity to do something completely new that excites them!) in their retirement. This old idea that retirement must include RV's and golf I think is really outdated (and dare I say boring too--although it does seem like it might be fun for some short period of time--called "vacation".)

I think retirement takes a little more "work" to enjoy than most people give credit for, which I think you are right to address. I will be very curious to see how I feel after that first year, who knows, maybe I'll be surprised!

Thanks for sharing the insight you gained through your rear-view mirror.

[sfdint]

Define "retired". To me being retired means being free to do the work that I want to do, without being required to have a job that is just a job. So, I am already "semi-retired". I am 56 and work as a professor at an international university in Lithuania. I am making 40% what I could make back home, but am teaching students from all over eastern Europe, and traveling to incredible places. My wife and I decided a long time ago that there were things we did not need...a big house...a car (we don't own one)...and anything luxurious. What we need are friends, meaningful work, travel and time with our families. We got that...what else do we need. I hope in 10 years to be financially independent so I can go anywhere in the world to teach. I am looking at India or Ethiopia. Thanks for the financial wisdom you share that will help me make this happen!

[Retired Syd]

Well I think you hit it on the head! Because many more people are now retiring before "traditional" retirement age, their retirements are looking much different than the traditional leisure-type retirements of years past.

For me it just means having saved enough to pursue whatever options I want for my future, whether those options are paid or not. (Like in your case, being paid 40% of what you made back home.) Clearly you've arranged it so that it is financially possible for you to pursue work for the pleasure of it, not just for the highest paying bidder.

Sounds like a very fulfilling life--thanks for sharing your thoughts.

Retired Syd

[Cheryl]

Ok, I'm still working, I'm a manager when I'd rather be a techie, and I would most definitely retire today if I had the money. I read through the responses with interest.

When I do leave my current job in a year or less (i.e., as soon as I legally can and receive a retirement package), I will still need to continue to earn an income of some kind. However, I won't need health benefits and I won't need to work full time.

I work in IT and staying on top of the trends is important to me so I see myself working part time in some IT capacity, maybe even self-employed.

And, if not that, I know I'll continue to (probably even more so) network with people online. I love to travel and have already met a number of people of all ages who love to travel to the same part of the world I and my partner do thanks to the Fodors site.

There are so many choices, every day it's important to decide what's really important to me and do those things. Working at a job I don't enjoy just gets in the way.

[Warren]

I retired at age 62 in Sept 2000 and have never regretted it one bit. Having a bedroom left when the kids moved out let me set up my computers to get online and I guarantee I'll never run out of new avenues to explore on my own schedule, so how could I ever get bored? This is sure more fun than working!

[Retired Syd]

Warren:

Well I couldn't agree more--it sure beats working! I've only been retired for a couple months now, but I don't see how I would ever get bored. You have unlimited time to do whatever interests you--how totally un-boring!

What I find surprising is that even with all that extra time, it still feels like there are not enough hours in a day! Go figure.

Thanks for your comments.

Syd

[Marn]

Yes I would definitely chose retirement! And I am working towards it now. Retirement means doing what I want to do anytime and anywhere (without worries) !:)

[Ray]

I would, but I'd continue trading and investing. Hmmm, I actually kinda like my day job and I have a great boss, so I probably will continue to work for some time too.

I might try to negotiate a day or two off in a week or something for lower pay though, just to have more time to do non-money-generating things that I like :)

But seriously, unlike some (most?) people, I'm really quite alright with my day job. Sure there are some days I really hate it and I'm like "why oh why oh why I'm doing this" and really drag myself to the office in the morning, but all in all, it's really pretty good :)

[Stanley]

I'm just starting out, but feel very sure I want to (semi-)retire early. I'm saving for it very aggressively. I worry that it could get boring with so much time, but then I remember that back when I had breaks in school. For me they were boring for the first few weeks (what to do with a sudden wealth of time?) but then I would gradually find new interests and activities that more than filled the days. Hopefully working will never grind me down to the point that I am no longer curious or adventurous enough to live an enjoyable life with a meaning that *I* define. Then again, I wonder whether I resent my job more because I "have" to come in than due to any inherent dislike for it. All in all, my job is okay, but the thought that my boss "owns" my time feels very bad to me.

[ElleX]

Syd, if I had the money, I wouldn't hesitate to retire tomorrow. I really want to be able to spend more time with my parents and other family members (we live in different states). Also, I would love to travel and volunteer more.

[Retired Syd]

@ElleX: And another bonus being retired is you can save a bunch of money on travel by booking last-minute or times that might not have been so convenient back when you were working!

[Ely]

If I had the money to retire now, I probably would not, at least not right away. I do like my job and its benefits go beyond money. I might start looking for similar work with a non-profit or other organization I admire who can't pay much.
I lack your ability to focus my free time. When I have been unemployed, or when I've had weekends at home alone, I accomplish NOTHING. Time weighs on me. I would need some kind of structure to get me out of bed in the morning. A non-profit job or a regular volunteer gig, or even just a daily something with a friend would do it... left to my own devices I am useless.

I am a new reader and very much enjoying your blog. Thank you very much.

[fred doe]

are you tired or retired? i've been a blue collar construction trades worker most of my life. now that i'm retired and pick up part time work. i'm amazed that people who are supposed to have business minds haven't picked up on the talent of the retired boomers who just want to make some fun money. you can get true talent at discount prices. but then i never ran a business.

[jackie46]

I plan to retire in January 2011 at age 64. I could find lots of reasons to stay and earn money but I have a lot of things I want to accomplish and can't because of a 40 hour work week. I am an office manager and come home from work "drained" everyday. Sadly I have lost my passion for my workday. I plan to write a book about bi-polar disease (ex-husband) and also give "encouragement programs" with my singing ability and sense of humor. I have a passion to encourage people. I also plan to get more "politically" involved especially in local government. I'm learning a lot from all of you.

[Retired Syd]

@jackie46: Thanks so much for sharing your story. After so many years of work, I don't find it surprising to lose that passion. Sounds like you have some great plans you need to get to! I look forward to hearing about your adventures in 2011. Good luck!

[jackie46]

Hey, thanks Retired Syd, I have never been on a blog before so this is all new to me. I am concerned about the money being half what I make now but I think if I do my singing and writing and sharing with people, there may be some money there but basically I am not doing those things for the money. Also I have done a lot of things in my life already that if I passed away tonight I would be happy that I lived my life with passion most of the time.

[Doris Brown]

My husband and I are in our late 40's. I know we have enough to retire and live better than we do now. But we're making a lot of money and it's so tempting to always keep at it "a few more years". One reason is because you never know what will happen with expenses and returns. (For example, the last 2-3 years has just gotten us back to where we were before the "crash".)

But also, we think about what good we could do with "1 more years income", giving it to family or charity. In our case we own a business, so once we sell it there's no going back. (It takes many years and a lot of luck to build a business up to this income level, so it's not like just getting another job.) But we have so many interests and hobbies we don't have time to pursue, and we're so trapped by never being able to leave the business behind even for a few days.

I'm sure we'll do it, but it sure is a hard decision to make. For me it's not really about whether we have enough money, because even though there's enough money for us, there's always other people who could use any extra money we could make.

[Daina]

Hi just retired from teaching after 40 years which I loved. I was retired for one week when I was approached to take a part time job every morning 9-12. The head was very flexible saying I could have holidays already booked as well as school holidays and could work afternoons when it suited me more. On the advice of retired friends - saying I had not given retirement a chance I turned it down but now after another week time is hanging heavy and I wish I had taken it.