Author Topic: What do next after FIRE?  (Read 4576 times)

pac_NW

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What do next after FIRE?
« on: October 06, 2013, 08:36:04 AM »
Our household is FI yet not retired early yet.  The delay is because I cannot figure out what do do next.  I want to keep working but at a much reduced pace.  For those of you who are retired and still working some of the time, what did you decide to do next?  Change careers?  Reduce workload at current job?  Turn a hobby into something money making?  I am looking for ideas and resources.  Did you reflect on what' next?  Did you just "know"?  Did you read a book or a blog that set you on a new path or helped you figure out a new path? Looking for ideas and resources - thank you.

footenote

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Re: What do next after FIRE?
« Reply #1 on: October 06, 2013, 09:45:13 AM »
I've taken to consulting. It allows me to stay up-to-date and make new professional connections. I also take lots of time off between gigs. This year, I worked 5.5 months, took 10 weeks off, then worked 6 weeks. Now I've been relaxing for the past three weeks and am (lazily) trolling for another gig. What's been nice about consulting for me is that it is perfectly acceptable to dip in and out.

If your skills are in demand, look for consulting firms in your area to learn more. In most major metro's there are both large (national or international) and small, local firms.

travelbug

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Re: What do next after FIRE?
« Reply #2 on: October 06, 2013, 04:50:08 PM »
We are FI and RE next year, unless we sell our business before then (fingers crossed).

We are selling up and travelling; first up will be Asia and Europe for a year and then who knows? We have committed to a year but in reality I doubt if we will ever settle down full time again. We are exploring to see if a place exists that we love enough to do that.

The freedom from FI will literally give us the world.

I also recommend reading the Stoic books MMM recommends as that helps with figuring out what you love and cherish, which in turn helps with the big decisions and purpose in life.

Good luck.

pac_NW

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Re: What do next after FIRE?
« Reply #3 on: October 06, 2013, 05:38:56 PM »
Thank you - will consider consulting and read the stoic books, which I had not referenced prior.

RootofGood

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Re: What do next after FIRE?
« Reply #4 on: October 06, 2013, 08:49:45 PM »
Time to take a sabbatical that may be permanent?  I guess it depends on whether you are really wanting to be done with working or you still like your job, or the concept of a job.  If you are worried about taking the leap into the unknowns of being jobless, here are some tips prep you for potential re-entry to the full time workforce: http://rootofgood.com/sabbatical-mid-career-break-retired/

As for the decision of keep working vs. retire: make a list of what you want to do.  It can be simple like read more, walk in the neighborhood more, cook more.  It doesn't have to be a bucket list with grandiose trips and accomplishments.  Take a look at your list and figure out whether you value the things on the list more than working all day or even part of a day.  Why do you like work?  Can you get the positive aspects of work from something less time intensive?

Good luck with what you decide.  Just remember leaving one job doesn't mean you can't work somewhere else if you want to later. 

I made the plunge last month at age 33.  So far life is pretty good!


grantmeaname

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Re: What do next after FIRE?
« Reply #5 on: October 06, 2013, 09:36:48 PM »
I feel like a broken record player every time I say this, but Nords has a terrific article about this topic over that the Military Guide to FI's website. I haven't retired (obviously) so I can't say from personal experience that it's accurate, but I found it reassuring and thought it helped me think through FI options.

Nords

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Re: What do next after FIRE?
« Reply #6 on: October 12, 2013, 08:12:02 PM »
I feel like a broken record player every time I say this, but Nords has a terrific article about this topic over that the Military Guide to FI's website. I haven't retired (obviously) so I can't say from personal experience that it's accurate, but I found it reassuring and thought it helped me think through FI options.
Thanks again, Grant!

You don't have to be in the military to appreciate the book's advice, because it's written for families as well as servicemembers & vets.  You also might not even have to buy the book-- it's in over 100 public libraries across the country, and someone on Amazon Prime might be willing to do a Kindle loan.

For those seeking a different type of one-page answer, here's Ernie Zelinski's Get-A-Life Tree:
http://bestretirementquotes.blogspot.com/2009/10/get-life-tree-great-retirement-planning.html

RootofGood

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Re: What do next after FIRE?
« Reply #7 on: October 13, 2013, 07:12:52 PM »
For those seeking a different type of one-page answer, here's Ernie Zelinski's Get-A-Life Tree:
http://bestretirementquotes.blogspot.com/2009/10/get-life-tree-great-retirement-planning.html

I don't know Nords, I think you are pimping his retirement map / life tree because it lists Hawaii as an Exotic Destination!  ;)

Nords

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Re: What do next after FIRE?
« Reply #8 on: October 13, 2013, 10:32:35 PM »
For those seeking a different type of one-page answer, here's Ernie Zelinski's Get-A-Life Tree:
http://bestretirementquotes.blogspot.com/2009/10/get-life-tree-great-retirement-planning.html
I don't know Nords, I think you are pimping his retirement map / life tree because it lists Hawaii as an Exotic Destination!  ;)
Promoting Hawaii when fall starts to turn to winter, and snow begins to creep across the Mainland?

Nah, that would just be a hefty commission from the Hawaii Visitors & Conventions Bureau cruel...

We're getting ready to travel to St. Louis this week for FinCon13, and I am not happy about the temperatures I'm seeing on my weather widget.  Apparently the St. Louis plan for that time of year is to encourage visitors who've lost their cold-weather resistance to stay indoors, preferably huddled together in the lobby swilling Starbucks.  But I was pretty much planning to do that anyway.