Early Retirement – Good or Bad?

Early in the month, Financial Samurai had a great post about the dark side of early retirement

He starts out with some of the reasons folks want to retire early, including job difficulties, realization of time slipping away, and general feelings of hopelessness in their current environment. He then moves into some of the dangers, and lays them out in convincing fashion.

  • What if you get bored and change your mind?
  • What if you run out of money?
  • What if you lose relationships due to your changed lifestyle?

He finishes with some words of warning (be careful who you listen to about early retirement, looking beyond the conventional wisdom) and discusses what he believes the real goal should be – Financial Independence, not early retirement. While keeping an age or year as a goal to motivate and to do this so that you can live a happy, productive life doing the work you love – not the job you hate.

I think it is an excellent warning, as so many of the Early Retirement community have the potential of falling into the trap. I see a lot of websites with people in hammocks and lovely beach scenes. What is funny is to read the ones of folks who have reached it, and to find out that they either continue to work (maybe at reduced hours/stress) or have found other “work” that they do which fills their day.

I belong to the baby boom generation, a generation which has defined itself (for both good and ill) by their job and function in society. While my goal is to be financially independent by July 2020, I know that I won’t be able to just sit down. While I might take some time to relax, travel and do a few things I’ve always wanted, I know that within 12 months I will be going stir crazy. That’s why I am big on hobbies, and will probably find some part-time work to stay in the game/keep my mind working.

What are your thoughts on this? When you hit financial independence, will you walk away?



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