Author Topic: "That's glory for you" - AKA Why Retire?  (Read 24776 times)

Jamesqf

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"That's glory for you" - AKA Why Retire?
« on: February 15, 2013, 09:50:24 PM »
Since MMM's preferred method of dealing with disagreement seems to be to delete the offending posts, I would like to ask some questions about the idea of retirement. Not necessarily the definition, as that's being discussed in another thread, but why some people seem to want retirement so badly that they define their free-form work life as retirement, while others of us - me! - see it as the ghost at the feast.

(The thread title is, of course, a reference to Lewis Carroll's "Through the Looking Glass":
Quote
"I don't know what you mean by 'glory.'" Alice said.

Humpty Dumpty smiled contemptuously. "Of course you don't--till I tell you. I meant 'there's a nice knock-down argument for you!'"

"But 'glory' doesn't mean 'a nice knock-down argument," Alice objected.

"When I use a word," Humpty Dumpty said, in rather a scornful tone, "it means just what I choose it to mean--neither more nor less."

I have commented, occasionally, that not only do I not want to retire early (even if it weren't getting a bit late for that), I hope never to retire at all.  I enjoy working, and especially the particular type I do now.  I've managed to remove most of the tedious parts, like fixed hours, commuting, most of the time spend in pointless meetings, etc.  Yet I expect others have done some of this too, yet still want to retire.

I'm wondering if this can be explained by the way a person enters the working world.  From what I've read, I've gotten the impression that MMM, like many, had a fairly typical middle-class upbringing, went through school and then college supported by parents/grants/loans, and then transitioned to a comfortable professional job without much difficulty.  So that job, and following ones, had little emotional value since it came easily.

My experience was quite different: not much family or societal support, first jobs were down at the bottom of the economic ladder - agricultural work, pumping gas or doing fast food, etc - were often gotten after dozens of applications, and sometimes meant the difference between eating and not.  That does, I think, tend to create a certain emotional attachment to the idea of having a job :-)

So I wonder if this is true for other people?  Are you seeking early retirement, whether in the MMM sense or by a more conventional definition, or are you seeking FI for security and/or to allow you to work in a more congenial manner?  Does your choice tie in with the way you entered the working world?

arebelspy

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Re: "That's glory for you" - AKA Why Retire?
« Reply #1 on: February 15, 2013, 10:11:39 PM »
I love my job, but I'm striving for FIRE, not just FI.

That being said, I wouldn't work in a job I hated to hit ER.  I'd rather work longer in a job I like than less time in a job I disliked.

But I'd still rather not have a job at all.

My job will be being a parent. And a human.

That's enough for me, for now.  After I've been FIREd at least a year or two, maybe that opinion will change.

I'd add a poll to the thread, but I'm not sure how to word it without baising it one way or the other while trying to get at (what I think) you want, so I guess you may just have to parse free-form responses.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
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dragoncar

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Re: "That's glory for you" - AKA Why Retire?
« Reply #2 on: February 15, 2013, 10:54:32 PM »
Because the things I want to do with my time on earth do not offer a stable income (sure they might pay off, or not, but I certainly wouldn't bet my grocery bill on it).

Adventine

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Re: "That's glory for you" - AKA Why Retire?
« Reply #3 on: February 16, 2013, 01:15:49 AM »
Because the things I want to do with my time on earth do not offer a stable income (sure they might pay off, or not, but I certainly wouldn't bet my grocery bill on it).

Same here.

turtlefield76

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Re: "That's glory for you" - AKA Why Retire?
« Reply #4 on: February 16, 2013, 02:30:37 AM »
Nice question Jamesqf.  I agree with a lot of what you have posted though from a different angle all together. 

I suppose that I approached this whole situation backwards.  I'm from the screw a traditional career I'm just going to follow my passion school of thought.  When I first started out my goal was to just make a living making music.  I spent most of my early 20s living extremely frugal so I could continue doing something I loved.  Eventually I got it to a point where I could make a living doing it and added a wife and child along the way.  I kept my frugal habits so was able to save and invest from pretty early on.  Once I was able to make living and had bought a house and was putting money away from retirement I kind of lost a bit of financial direction since my goal was always to just "make a decent living" in the arts.  I found myself a little directionless and not quite as motivated and hungry as I was earlier on in my career.  Once I found MMM, Lacking Ambition and Early Retirement Extreme I realized I had found my new goal: financial independence!  Once I reach FI I don't imagine anything really changing.  My wife and I will probably go out to dinner and celebrate but that will be about it.  I guess my wife could stop working if she feels like it but she could probably do that now and we would be okay.  So for me I guess FI has given me a new goal and something fun to work toward but honestly I don't think it'll change anything once I get there.  I'll still spend my time exactly how I want to be spending it making music and raising my kid.

I do recognize that my relatively comfortable middle class upbringing has given me a lot of choices that I probably wouldn't have made had I not come from a certain amount of privilege.  I realize my attitude toward work and education borders on aristocratic or maybe elitist and is very possibly irrational.  In the beginning my choice of career path had everything to do with ideals and a rejection of our mainstream consumer culture.  Now that I'm older I realize how silly some of my youthful ideals were but they still inform much of my life and career.  I'm just much more of a capitalist now... 

chicagomeg

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Re: "That's glory for you" - AKA Why Retire?
« Reply #5 on: February 16, 2013, 06:31:55 AM »
Because the things I want to do with my time on earth do not offer a stable income (sure they might pay off, or not, but I certainly wouldn't bet my grocery bill on it).

Same here. My fiancé has always wanted to own his own business. Living frugally now so that 1. We can live off my income while he builds something up and 2. So he can truly enjoy the flexibility he wants and work for the love of it, without worrying about money. The other reason I work so hard now while I'm young is because I want to be a stay at home mom very much. By saving now, we can turn down the dial on retirement savings while I'm not working. I guess what it all adds up to is wanting to feel like our life is our own and we are not beholden to circumstances limiting our choices.

velocistar237

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Re: "That's glory for you" - AKA Why Retire?
« Reply #6 on: February 16, 2013, 07:25:58 AM »
My pattern of energy and interests is similar to Jacob's. Something will grab my attention, and I'll chase after it for a good long while. Sometimes these interests line up with my career, but usually not. I suspect that Jacob considers his current stint in the financial field a dream job precisely because he knew it would last just a year or two.

My job is amazing. My workplace is amazing. It's a great career, low key, with fascinating, meaningful work. A lot of the time, though, I would rather sit and stare into space than work on the next thing, no matter how interesting. I'm hoping that with FI, reduced hours would suit me a lot better on the job and give me ample time to pursue outside interests.

Maybe it's that it all came too easily, or I've been too much of a pessimist, or I have unrealistic expectations, or something about doing work for money takes all the pleasure out of it. Maybe I'm ill-suited to spending all day at the desk, and I need a job with more social interaction, despite testing as an INTJ. I've thought about pitching the idea of pair-engineering to my superiors, like pair-programming. Or maybe I can find a way to create more mini-obsessions within my job.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #7 on: February 17, 2013, 12:08:17 PM »
I loved my life in the Coast Guard. Loved being at sea - on big or small ships - for months at a time travelling the world from the arctic to the antarctic. Loved the physical challenges, the mental challenges, the opportunities to do many many exciting things that I could never have had in the civilian world. However, once I got out, I found civilian employment (even a great job like I had)  to lack that same stimulation and excitement and varied opportunities I had in the service. So my focus became living very frugally and doing what I could so that I could retire early - stop working for money forever - so that I cold spend my days doing all those things I find fun, exciting and challenging. I wanted to do it while I was realitively young (42 when I retired) because the things I wanted to do - sports, active recreational things like climbing, trail running, adventure travel, etc.. - weren't things I would be able to do at the same level if I waited to a more traditional retirement age. So bottom line - I wanted "excitement, adventure and really wild things" while young enough to enjoy it rather then to continue spending my very valuable and limited "time" earning money to buy things or a more upscale lifestyle. That longing for freedom is what drove me to get become modestly FI and retire.  '
« Last Edit: February 17, 2013, 12:14:42 PM by Spartana »

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Re: "That's glory for you" - AKA Why Retire?
« Reply #8 on: February 17, 2013, 01:07:50 PM »

My experience was quite different: not much family or societal support, first jobs were down at the bottom of the economic ladder - agricultural work, pumping gas or doing fast food, etc - were often gotten after dozens of applications, and sometimes meant the difference between eating and not.  That does, I think, tend to create a certain emotional attachment to the idea of having a job :-)

So I wonder if this is true for other people?  Are you seeking early retirement, whether in the MMM sense or by a more conventional definition, or are you seeking FI for security and/or to allow you to work in a more congenial manner?  Does your choice tie in with the way you entered the working world?

James, I really appreciate you posing this discussion.  My experience was much like yours and during some of my life eating was not a given.  For me what developed was that my job was largely who I was, while it wasn't my only interest it consumed my existence.  In many ways that has continued and while I have an amazing career, it is very high stress and if I spend 7 days a week working that just means there are seven more days waiting for me to work next week, it doesn't end. 

Thus for me it is in part based on who I am as a person and in part the career path I have chosen but I need to get to FI for my own well being.   I may have a different career path at that point but my current one demands at least my current level of effort it would prefer more.

Jamesqf

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Re: "That's glory for you" - AKA Why Retire?
« Reply #9 on: February 17, 2013, 01:43:47 PM »
...so that I cold spend my days doing all those things I find fun, exciting and challenging. I wanted to do it while I was realitively young (42 when I retired) because the things I wanted to do - sports, active recreational things like climbing, trail running, adventure travel, etc.. - weren't things I would be able to do at the same level if I waited to a more traditional retirement age.

There's something I disagree with, and perhaps material for another thread.  I think a lot of what you can and can't do is driven by societal expectations of "acting your age".  I used to get a lot of it from my ex, 20 years and more ago, when I'd want to go hike & bike, and she'd want to watch TV, or suggest that I ought to take up golf.  (Which I've always thought is one of the early warning signs of Alzheimers.)  But here I am, a couple of decades later, still hiking & skiing the same places.  (And more - perhaps it's just familiarity, but some things I once thought were really hard going now seem not so much of a challenge as I remember them.)

I do agree to an extent, which is why I've organized my work life to have flexible hours, so that I can take off afternoons or whole days for skiing or whatever.  I need balance, though.  If I take off several days at a time, I find myself wanting to do work, and getting bored with the hike or bike ride.

For me what developed was that my job was largely who I was, while it wasn't my only interest it consumed my existence.  In many ways that has continued and while I have an amazing career, it is very high stress and if I spend 7 days a week working that just means there are seven more days waiting for me to work next week, it doesn't end.

Yeah, I can certainly relate to that, too!  It all comes down to balance, not allowing any one aspect of life to consume the whole thing.  That for me is the point (beyond simple security) of FI.  It allows me a great amount of choice in what work I do, and when, where, and how I do it.

There is some of the self-definition aspect there for me, too.  I define myself in part not by the particular job I do, but by the fact that I can do some sort of work that both I and other people perceive to be of value.  On the great cruise ship of life, I prefer to be crew rather than passenger :-)

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Re: "That's glory for you" - AKA Why Retire?
« Reply #10 on: February 17, 2013, 02:38:52 PM »
On the great cruise ship of life, I prefer to be crew rather than passenger :-)

This :-)

Nords

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Re: "That's glory for you" - AKA Why Retire?
« Reply #11 on: February 17, 2013, 07:29:31 PM »
On the great cruise ship of life, I prefer to be crew rather than passenger :-)
Only if I'm not on the watchbill...

James

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Re: "That's glory for you" - AKA Why Retire?
« Reply #12 on: February 17, 2013, 08:19:11 PM »
I can definitely see your point.  I have a career I love, but because of my financial needs and goals I work more hours than I wish.  But even if I was FI, I would want to continue my career, and I plan to.  I enjoy anesthesia, I want to keep up my skills and practice in the field, and I want to be able to use those skills for medical trips to places it's in great need and unaffordable.  My eventual plan to work about half time is hopefully less than a decade away, and at that point I hope to be "retired" by MMM definition, yet still working a great deal in my chosen career out of choice.  I think MMM has bitten off too big of a bite with his retirement definition, but he comes by it honestly and has some good points to make even if I don't buy it 100%.  I'm not going to argue with his definition, it's his blog and forum, I'll just keep enjoying his refreshing attitude and point of view and call my own activities whatever I damn well please.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #13 on: February 17, 2013, 10:49:23 PM »
I can definitely see your point.  I have a career I love, but because of my financial needs and goals I work more hours than I wish.  But even if I was FI, I would want to continue my career, and I plan to.  I enjoy anesthesia, I want to keep up my skills and practice in the field, and I want to be able to use those skills for medical trips to places it's in great need and unaffordable.
I can understand why professors, doctors, and lawyers have no reason to retire. 

But for the latter two, I've heard a lot about the hassles of insurance and continuing education.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #14 on: February 18, 2013, 07:44:54 AM »
I like my job a lot.  It's great for the canonical reasons that keep a person happy at work: feeling like my work has an impact, being recognized for my accomplishments, and having autonomy.  But it only feeds one very particular part of my brain (the science part). 

I often say "I really like my job, but I wish I could do it a little less often."  I'd love to have more time for working with my hands, doing sports, reading, cooking, having kids... and I'm not good enough at most of those things to do them for money.  Work's great, but it's not all of who I am, so I'd like to retire (or at least cut down to half-time) so I can do the other stuff.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #15 on: February 18, 2013, 08:04:14 AM »
James, I think it's great that you find so much joy in your job.  But surely you must know that this is not true for the vast majority of people.

I have an IT government contracting job.  While I don't ever have to work more than 40hrs (which is good), the work is not noteworthy or rewarding. But, I'm paid well.   In the IT world, I just don't see anything that I would find interesting enough to not want to retire... especially since outside of the government contractor world, schedules are often hectic.

Is there something in life that I'd rather be doing, other than IT? Absolutely. I'd rather be running a barebones olympic lifting gym, teaching people how to lift and inspiring them to meet their goals.  I've done this on a 1-on-1 basis before, and it is very rewarding to me.  However, it's not as easy as just saying "I should do that".  For one, I've had varying physical issues the past 2 years that put such an endeavor into question.  Plus, there's the whole anxiety of starting a business and hoping it will succeed.

Someday, when we have a 2nd child, I hope to scale back my work hours to enjoy my family more though. My current position, as boring as it is, allows for this.

So, while I applaud people for finding careers that they absolutely love... there are people out there that fall into a career simply for the paycheck.  It's a means to an end.  You can't fault them for wanting to "get out".


smalllife

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Re: "That's glory for you" - AKA Why Retire?
« Reply #16 on: February 18, 2013, 08:43:59 AM »
Because the things I want to do with my time on earth do not offer a stable income (sure they might pay off, or not, but I certainly wouldn't bet my grocery bill on it).

This is me as well.  If I am FIRE I can put my efforts into several political movements without worrying that it will cost me my job. I imagine I will still "work" somewhere 20 hours or so a week, just for the structure and socialization, but with the FI leverage to make it a truly unique and rewarding job.  There are a lot of things I want to learn and do, but they are not the kinds of things that pay well, if at all. 

I think a lot of this discussion (not necessarily on this thread, but about this topic in general) is that "work" is seen as an all or nothing proposal.  You either work 40+ hours a week or you don't work at all.  What I have heard many say is that they just want to work less - and I think that's a great middle ground that is often forgotten about.  Work less, enjoy life more.  Seems like a win-win to me.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #17 on: February 18, 2013, 08:54:37 AM »
I survived and overcame extreme poverty. Husband was raised more middle class. I suppose as a a homemaker I am sort of kind of retired........ though I feel like I "work".  I also barter services and volunteer my time. Husband on the other hand doesn't truly want to retire. His job is HARD though and he currently works 6 long days a week. He considers his mustachian move to get to 3 days a week. Just enough to keep our insurance and keep himself doing what he enjoys.

I have followed and studied the truly wealthy for years to get ahead in life, not so much to "retire". I want us to be comfortable.
I'm all about having nest eggs. If my husband had millions of dollars he would still work.  There doesn't seem to be a level of security he is comfortable with financially. He always thinks there is more savings to build. For him being a mustachian and continuing to work (save) is a win win.

This thinking reminds me of Oprah. I mean why is she still working LOL? She was raised with very little and now has way more than enough for several lifetimes?

arebelspy

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Re: "That's glory for you" - AKA Why Retire?
« Reply #18 on: February 18, 2013, 09:10:54 AM »
Someone with that sort of ego doesn't work for money.

We each have our own reasons.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
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Spartana

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Re: "That's glory for you" - AKA Why Retire?
« Reply #19 on: February 18, 2013, 10:04:12 AM »
...so that I cold spend my days doing all those things I find fun, exciting and challenging. I wanted to do it while I was realitively young (42 when I retired) because the things I wanted to do - sports, active recreational things like climbing, trail running, adventure travel, etc.. - weren't things I would be able to do at the same level if I waited to a more traditional retirement age.

There's something I disagree with, and perhaps material for another thread.  I think a lot of what you can and can't do is driven by societal expectations of "acting your age".  I used to get a lot of it from my ex, 20 years and more ago, when I'd want to go hike & bike, and she'd want to watch TV, or suggest that I ought to take up golf.  (Which I've always thought is one of the early warning signs of Alzheimers.)  But here I am, a couple of decades later, still hiking & skiing the same places.  (And more - perhaps it's just familiarity, but some things I once thought were really hard going now seem not so much of a challenge as I remember them.)

I do agree to an extent, which is why I've organized my work life to have flexible hours, so that I can take off afternoons or whole days for skiing or whatever.  I need balance, though.  If I take off several days at a time, I find myself wanting to do work, and getting bored with the hike or bike ride.

For me what developed was that my job was largely who I was, while it wasn't my only interest it consumed my existence.  In many ways that has continued and while I have an amazing career, it is very high stress and if I spend 7 days a week working that just means there are seven more days waiting for me to work next week, it doesn't end.

Yeah, I can certainly relate to that, too!  It all comes down to balance, not allowing any one aspect of life to consume the whole thing.  That for me is the point (beyond simple security) of FI.  It allows me a great amount of choice in what work I do, and when, where, and how I do it.

There is some of the self-definition aspect there for me, too.  I define myself in part not by the particular job I do, but by the fact that I can do some sort of work that both I and other people perceive to be of value.  On the great cruise ship of life, I prefer to be crew rather than passenger :-)

I totally agree - age is just a number and not something that should stop you from doing anything. I personally plan to be climbing Everest when I'm 90 :-)! I only meant that I wanted to do things competetively and I wanted to do then NOW - I didn't want to wait until 65. And the type of job I had (government compliance officer) didn't allow me to do both. So that was my motivator to ER.  And of course as time goes on you never know what may happen in your life - death, disability, dementia - or when those things could happen. So not wanting to wait until all I could do was golf I decided to find a way to a frugal FI/ER
« Last Edit: February 18, 2013, 10:10:23 AM by Spartana »

Jamesqf

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Re: "That's glory for you" - AKA Why Retire?
« Reply #20 on: February 18, 2013, 12:06:41 PM »
I only meant that I wanted to do things competetively and I wanted to do then NOW - I didn't want to wait until 65.

There's another question for the definition of retirement.  If you leave a job to train full-time as a competitive athlete, is that retirement?  Or is it - the training & competition - just another kind of work that comes without a regular/guaranteed paycheck.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #21 on: February 18, 2013, 12:37:10 PM »
I only meant that I wanted to do things competetively and I wanted to do then NOW - I didn't want to wait until 65.

There's another question for the definition of retirement.  If you leave a job to train full-time as a competitive athlete, is that retirement?  Or is it - the training & competition - just another kind of work that comes without a regular/guaranteed paycheck.

Good question. I guess if you were going to become a professional athlete - one that intends to have sponsers, win money, etc... - and you are training full time to the exclusion of many other things on your life (like 40 plus hours a week) then you could call that a job even if you weren't actually paid/winning for it. But, unless I were actually winning money or entering competions as a professional (race car driver? pro volleyball? pro baseball? etc...), I would probably call it "training" and not a job. Just like I call a full time college student someone "in training" and not someone "employed". Even if they got paid to go to school like I did using my G.I. benefit from the military, I would still call that "training" or "getting an education" and not a job. However, at least for me, I consider my quitting work so I can do sports - even competetively -  it be "recreation" rather than job.
« Last Edit: February 18, 2013, 12:43:43 PM by Spartana »

James

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Re: "That's glory for you" - AKA Why Retire?
« Reply #22 on: February 18, 2013, 01:33:45 PM »
I can definitely see your point.  I have a career I love, but because of my financial needs and goals I work more hours than I wish.  But even if I was FI, I would want to continue my career, and I plan to.  I enjoy anesthesia, I want to keep up my skills and practice in the field, and I want to be able to use those skills for medical trips to places it's in great need and unaffordable.
I can understand why professors, doctors, and lawyers have no reason to retire. 

But for the latter two, I've heard a lot about the hassles of insurance and continuing education.


The insurance and continuing education are some big reasons to keep working part time.  Many medical NGOs won't even accept medical provider who have retired, it's impossible to know if they are maintaining their abilities and knowledge base.  Another reason is the huge cost of medical trips, it takes about $2,500 of my money just to go on one surgical trip.  Factoring that into FIRE would add way to much, and if needed I could always cut those trips out.  So I calculate FIRE based on only standard expenses, and will continue to work so I can afford the medical trips and maintain skills.  It's just another way to skin the retirement cat.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #23 on: February 19, 2013, 09:18:32 AM »
This thinking reminds me of Oprah. I mean why is she still working LOL? She was raised with very little and now has way more than enough for several lifetimes?
Oprah has a whole spectrum of personal problems, and sharing them on the air happened to be very profitable.  For her it's never been about the money, and she has no freakin' idea what she'd do all day if she wasn't in front of a camera.  She's not happy, and she's not even enjoying her wealth-- she's driven to do great things.  Luckily for her they happen to be legal and mostly popular with the public.

I'm not sure that I'd adopt her business model for my own life.  I certainly wouldn't look to her example for building wealth or planning retirement.

Jamesqf

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Re: "That's glory for you" - AKA Why Retire?
« Reply #24 on: February 19, 2013, 01:38:11 PM »
Oprah has a whole spectrum of personal problems, and sharing them on the air happened to be very profitable.  For her it's never been about the money...

You can replace Oprah with just about anyone who has made a pile, yet keeps on working.  For instance, I used to work down the hall from a guy who basically developed the technology that made multi-hundred gigabyte disk drives possible.  The company is pretty good about sharing profits on inventions its employees come up with, so you know he has to be in a position to have a pretty good stash, so why did he still come in to work?

arebelspy

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Re: "That's glory for you" - AKA Why Retire?
« Reply #25 on: February 19, 2013, 01:42:04 PM »
Oprah has a whole spectrum of personal problems, and sharing them on the air happened to be very profitable.  For her it's never been about the money...

You can replace Oprah with just about anyone who has made a pile, yet keeps on working. For instance, I used to work down the hall from a guy who basically developed the technology that made multi-hundred gigabyte disk drives possible.  The company is pretty good about sharing profits on inventions its employees come up with, so you know he has to be in a position to have a pretty good stash, so why did he still come in to work?

I'm assuming you're replying to Nord's second sentence you quoted, rather than his first?
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Re: "That's glory for you" - AKA Why Retire?
« Reply #26 on: February 19, 2013, 08:29:44 PM »
For me, working is about the money, at least for now. Who knows, maybe when I reach FI, I won't mind working nearly as much.

I wonder if the differences you're pointing out, between people who would keep working regardless and people who would change something at FI, have to do with the strength of their identity in their work. Identity is related to how much you buy into something, and if you internalize a particular identity to a high degree, great things can come out of it, like high motivation and a feeling of purpose. I have a pretty weak sense of identity, and I'm pretty ambivalent about what I end up doing, as long as it's interesting.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #27 on: February 20, 2013, 11:55:18 AM »
Another instance of someone not wanting to retire popped up on my Google News page this morning: http://www.pbs.org/newshour/rundown/2013/02/how-social-security-pays-you-to-work-forever.html

I never knew about what he's discussing before.

Here's someone else that might be "retired" by MMM's standards: http://www.businessinsider.com/amazon-engineer-lives-on-a-boat-and-works-from-hawaii-2013-2

PS: I'm not looking for them, honest, they just show up as I'm reading the news.
« Last Edit: February 20, 2013, 01:29:30 PM by Jamesqf »

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Re: "That's glory for you" - AKA Why Retire?
« Reply #28 on: February 20, 2013, 12:16:16 PM »
For me, working is about the money, at least for now. Who knows, maybe when I reach FI, I won't mind working nearly as much.

I wonder if the differences you're pointing out, between people who would keep working regardless and people who would change something at FI, have to do with the strength of their identity in their work. Identity is related to how much you buy into something, and if you internalize a particular identity to a high degree, great things can come out of it, like high motivation and a feeling of purpose. I have a pretty weak sense of identity, and I'm pretty ambivalent about what I end up doing, as long as it's interesting.

I think many people can find a way to retain their "Identity" even once retired. Maybe thru volunteer work rather than paid employment. Maybe using a question like one of those in YMOYL would work best in many situations: Would you do you job - and work the same amount of hours - if you were not getting paid?  I think many people would answer no even if their identies were tied up to their jobs and/or they loved their jobs. I think many FI peoplewould also say no too as they might value their time more then the extra income they recieved. So even if they loved their jobs they may not be willing to do them for free.  Someone like James here, who seems to have a true life's calling, would probably continue to do what he does even if he didn't get paid (assuming he was FI) but I think he is the rare person. Most of us work for pay - even if our identies are wrappped up in our employment - and probably wouldn't continue doing it once the pay was gone. At least not full time. I might help build a house for Habitat for Humanity instead of working for pay but I wouldn't do that full time.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #29 on: February 20, 2013, 01:39:05 PM »
I think many people can find a way to retain their "Identity" even once retired. Maybe thru volunteer work rather than paid employment. Maybe using a question like one of those in YMOYL would work best in many situations: Would you do you job - and work the same amount of hours - if you were not getting paid?

I might go on doing programming stuff if I wasn't paid.  (Indeed, some of the hard-core science stuff I do is at best minimally paid.)  But in my case, at least, the identity thing is not tied up in any particular job - I could quit this and do something else, if it looked better - but in doing something that's productive.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #30 on: February 20, 2013, 02:19:33 PM »
So anything that's "productive" must bring home a paycheck?

I appreciate hearing from people like you Jamesqf, but I am utterly mystified by your viewpoint. To me, it’s working at any remotely “normal” full-time job for 40-50 years that sounds unbearably tedious. Sure, lots of careers are very cool and might be fun to try for a year or five, but I wouldn’t want to limit myself by picking just one. Besides, even the best jobs usually involve wasting 10-30% of your time on boring crap. People who love their jobs still don'’t love every minute of every day. That’s what I want and expect from “retirement.” In any case, I can confidently state that I would never get bored if I lived a thousand years without “working” a day.

Unfortunately for me, I find EVERYTHING to be interesting. I want to pursue a deeper understanding of philosophy, physics, literature and pottery. I want to learn more about cooking and musical theory and Japanese. I like building websites and arcade cabinets. I dream of hiking the PCT. I want to know and do everything there is to know and do. There are few topics that don’t interest me and the more time I spend on any one topic, the more I itch to switch over to something else. Sure, I’ve had some fragments that I’ve stuck with over the years, but nothing that would make significant money without spending way more time on it than I care to. My ideal job would be to travel the world while acquiring as much knowledge as possible on any topic at all, from the profitably practical to the wonderfully obscure. I doubt anyone wants to pay me to do that. The DW also would object, alas.

Combine my unbridled joy at learning new skills, meeting new people, and experiencing new things with the boring predictability of even the most unpredictable 40 hour/week vocation and you can see the crux of my motivation to gtfo of the rat race.

Of course, I am also a 29 year old raised solidly in the realm of middle class privilege, so maybe I’m just an entitled jerk like the rest of my generation ;)
« Last Edit: February 20, 2013, 03:17:05 PM by Lagom »

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Re: "That's glory for you" - AKA Why Retire?
« Reply #31 on: February 20, 2013, 02:48:48 PM »
So anything that's "productive" must bring home a paycheck?

I appreciate hearing from people like you Jamesqf, but I am utterly mystified by your viewpoint. To me, it’s working at any remotely “normal” full-time job for 40-50 years that sounds unbearably tedious. Sure, lots of careers are very cool and might be fun to try for a year or five, but I wouldn’t want to limit myself by picking just one. Besides, even the best jobs usually involve wasting 10-30% of your time on boring crap. Even people that love their jobs don’t love every minute of every day. That’s what I want and expect (as an ideal) from “retirement.” In any case, I can confidently state that I would never get bored if I lived a thousand years without “working” a day.

Unfortunately for me, I find EVERYTHING to be interesting. I want to pursue a deeper understanding of philosophy, physics, literature and pottery. I want to learn more about cooking and musical theory and Japanese. I like building websites and arcade cabinets. I dream of hiking the PCT. I want to know and do everything there is to know and do. There are few topics that don’t interest me and the more time I spend on any one topic, the more I itch to switch over to something else. Sure, I’ve had some fragments that I’ve stuck with over the years, but nothing that I would make significant money doing without spending way more time on it than I care to. My ideal job would be to travel the world while acquiring as much knowledge as possible on any topic at all, from the profitably practical to the wonderfully obscure. I doubt anyone wants to pay me to do that. The DW also would object, alas.

Combine my unbridled joy at learning new skills, meeting new people, and experiencing new things with the boring predictability of even the most unpredictable 40 hour/week vocation and you can see the crux of my motivation to gtfo of the rat race.

Of course, I am also a 29 year old raised solidly in the realm of middle class privilege, so maybe I’m just an entitled jerk like the rest of my generation ;)

Exactly.  For me, family is probably the #1 reason.  Spending time with my kid (all the time I can) while he's young is of paramount importance to me and MMM.  That WHY we wanted to retire early.  That was the only reason. 

Spending time with my parents and my brother is also extremely important to me.  Being able to help family out in times of need is also important: financially and otherwise.  Having freedom and flexibility to learn new things.  Having the pressure of finding what I love doing, instead of just going to a job and having them tell me what to do.  Doing something that helps people and the community...

Having a typical 9-5 job with limited vacation severely hinders this.  It's just not possible for me to volunteer during school hours on that schedule.  I can't go on vacation for 12 weeks out of the year, if I want.  I can't move very easily with a job.  Things are just a LOT less flexible.

Also, as a side note, MMM paid for his own education and has been working ever since he was very young (paper route, gas station, convenience store, hardware store, etc.).  He paid for everything as a kid himself.  He aggressively sought out work and made his way to the United States on his own by working hard.  It has a lot to do with his values today.  While is childhood was extremely happy and his parents are wonderful people, he did not have things handed to him on a silver platter.  If he wanted to go to school, he had to find a way to pay for it himself.

I would say that those who struggle a bit more with money at a younger age and come from poorer situation may end up working harder to reach a stable financial situation in adulthood.  They may have to be smarter and work harder perhaps, but the hard work and not taking things for granted is what helps them succeed.  Every situation is different and unique, so it's hard to say that 2 things are correlated though, when often it isn't the case.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #32 on: February 20, 2013, 03:17:01 PM »
We kind of got into the same discussion in my response to the same post, so I have no particular comment about that.

I just wanted to say, I recognized the quote in the title instantly - that's why I clicked this post; that's my favorite scene from one of my all time favorite books.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #33 on: February 20, 2013, 03:29:43 PM »

Exactly.  For me, family is probably the #1 reason.  Spending time with my kid (all the time I can) while he's young is of paramount importance to me and MMM.  That WHY we wanted to retire early.  That was the only reason. 


Internet Retirement Police here.  I'm sorry, ma'am, but retiring to take care of your young child is simply not retirement.  You are in fact employed as a nanny.  Please turn in your retirement card immediately.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #34 on: February 20, 2013, 05:11:01 PM »
For me, family is probably the #1 reason.  Spending time with my kid (all the time I can) while he's young is of paramount importance to me and MMM.  That WHY we wanted to retire early.  That was the only reason.

Which is something I can't easily understand.  While I like kids in small doses (and they tend to like me, maybe because I never bothered to grow up), having to spend all day, every day with one would make that 9-5 office job seem like such a relief. 

Quote
Having a typical 9-5 job with limited vacation severely hinders this.  It's just not possible for me to volunteer during school hours on that schedule.  I can't go on vacation for 12 weeks out of the year, if I want.  I can't move very easily with a job.  Things are just a LOT less flexible.

We're on the same page there, though, which is why I've worked to arrange my job/business to allow a lot more flexibility than most.  I can do it from pretty much anywhere there's power and an internet connection, I set my own hours, etc.  In truth, if I were to go on a stereotypical vaction, I'd get bored and haul out the laptop for a few hours every day.  But even though I make quite a bit less than if I'd stayed at Big Computer Company in Silicon Valley, I don't consider myself to be anything close to retired, and (if brain & body hold out) don't ever want to be.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #35 on: February 20, 2013, 08:53:50 PM »
For me, working is about the money, at least for now. Who knows, maybe when I reach FI, I won't mind working nearly as much.
From what I've heard you may not mind the "working" part, but you'll develop zero tolerance for everything else that goes on at the office. 

Please turn in your retirement card immediately.
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Re: "That's glory for you" - AKA Why Retire?
« Reply #36 on: February 21, 2013, 06:33:03 AM »
Just a small observation on these discussions - it seems that although everyone is talking about how to define something like retirement and how it means to them/imposing a definition upon others, a common theme that everyone seems to bring up is autonomy. Those who don't want to "retire" and view the word with a negative connotation seem to have already hit that autonomy; loving their work, possibly making their own hours..etc.

That is the same thing some people who are seeking FIRE want. I don't know if I'm even being clear to myself but although the discussion focuses on the definition of retirement all we're discussing is various methods to become autonomous and answerable to only to what we choose.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #37 on: February 21, 2013, 07:30:31 AM »
I would say that those who struggle a bit more with money at a younger age and come from poorer situation may end up working harder to reach a stable financial situation in adulthood.  They may have to be smarter and work harder perhaps, but the hard work and not taking things for granted is what helps them succeed.  Every situation is different and unique, so it's hard to say that 2 things are correlated though, when often it isn't the case.

I'd say that your hypothesis seems to hold true, at least in my family.  I had a flyer route from the time that I was 8, to pay for girl guide activities, and I started a fast food job at 14.  I've always worked, except for a few semesters during school, when my course load was higher.  My sister is 5 years younger than I, and didn't really have to experience the worrying about money from our parents, that I did.  When I was 13, my parents made decent incomes, but I never got extravagant gifts.  When I was 18, and my sister was 13, she got a $600 snowboard, and all the associated gear for Christmas. 
My parents had more disposable incomes when she was a teenager, than when I was one.  She didn't have a job until she was 17, and my Dad would give her money during the school year, so she didn't have to work.  She's floundered around in post secondary, and at 23, still hasn't finished a degree.  I was out of school and working at 23.

I am about to start 4-6 months of time off, to heal from my hand surgery, and I'm not sure how I am going to cope with it.  The first few weeks might be a fog of drug-induced naps, but once I am healing a bit, but still not well enough to do too much, I think I might start getting cabin-feavery.   At least I have the month of June to look forward to, when 7 relatives will be staying with us for 4 weeks...

;)

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Re: "That's glory for you" - AKA Why Retire?
« Reply #38 on: February 21, 2013, 10:56:41 AM »
...a common theme that everyone seems to bring up is autonomy. Those who don't want to "retire" and view the word with a negative connotation seem to have already hit that autonomy; loving their work, possibly making their own hours..etc.

That's certainly a factor, and having a high degree of autonomy definitely improves my quality of life - as does the autonomy that comes from knowing that my decent 'stash means I don't actually have to work.  I don't think it's the whole story, though, as I can see myself still wanting to work even if the best I could do was fairly regimented.

As far as background goes, I don't think it's so much the having worked from an early age, as the experience of wanting to work (and needing to, to survive) but not being able to.  That is, if you're a typical teen working a fast food job or such, then even if you work hard, it still isn't a survival issue, 'cause you know that mom & dad will feed you if you lose the job.

And of course I may be entirely wrong about this.  It's just my hypothesis that tries to explain why some welcome the idea of retirement, while others hate the idea.  If anyone has a different idea, I'd be glad to hear it.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #39 on: February 21, 2013, 11:15:35 AM »

That's certainly a factor, and having a high degree of autonomy definitely improves my quality of life - as does the autonomy that comes from knowing that my decent 'stash means I don't actually have to work.  I don't think it's the whole story, though, as I can see myself still wanting to work even if the best I could do was fairly regimented.

As far as background goes, I don't think it's so much the having worked from an early age, as the experience of wanting to work (and needing to, to survive) but not being able to.  That is, if you're a typical teen working a fast food job or such, then even if you work hard, it still isn't a survival issue, 'cause you know that mom & dad will feed you if you lose the job.

And of course I may be entirely wrong about this.  It's just my hypothesis that tries to explain why some welcome the idea of retirement, while others hate the idea.  If anyone has a different idea, I'd be glad to hear it.

It's an interesting hypothesis, but I'm not sure it's convincing. Why would having experienced a time where the need for work was that strong somehow make you enjoy work more? I could see how it would make you appreciate work more, and perhaps even make you tolerate the negatives of a workplace better, but I don't know that people who have been in poverty are actually wired to enjoy their jobs more than people who grew up in a life of relative privelege.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #40 on: February 21, 2013, 12:36:39 PM »
So anything that's "productive" must bring home a paycheck?

 In any case, I can confidently state that I would never get bored if I lived a thousand years without “working” a day.

Unfortunately for me, I find EVERYTHING to be interesting. 


One BIG plus to this!! I don't get why people equate "retirement" with no longer being productive..or interested in life, the universe and everything! So may things to do, so little time. Retirement gives me the time to do those things that interest me or are important to me even if it's not for a pay check. If I want to do something interesting, whether it pays or not, then I have the freedom to do that. Retirement doesn't mean you stop wanting  do something challenging, it just means you might not get paid to do it. Heck, if I wanted to go to Antarctica (I do) I would choose to do it as a volunteer penquin pooper-scooper but that doesn't mean I'm any less retired then if I sat on the deck of a luxury cruise ship sipping Dom Perigion. Yes it's "work" even if it isn't employment - but then so is tyaking care of my house or investments. Just like Mrs. MMM & Mr. MMM choosing to retire early to raise the young-uns - lots of hard yet interesting and meaningful "work" but not employment. I can't think of anything more productive then that!

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Re: "That's glory for you" - AKA Why Retire?
« Reply #41 on: February 21, 2013, 01:16:19 PM »
It's an interesting hypothesis, but I'm not sure it's convincing. Why would having experienced a time where the need for work was that strong somehow make you enjoy work more? I could see how it would make you appreciate work more, and perhaps even make you tolerate the negatives of a workplace better, but I don't know that people who have been in poverty are actually wired to enjoy their jobs more than people who grew up in a life of relative privelege.

I don't think it is about enjoying work more.  I think it is actually about knowing that if you don't work, you'll be homeless and starving.  A person with rich family members is less likely to have to worry about that.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #42 on: February 21, 2013, 02:05:36 PM »
I don't think it is about enjoying work more.  I think it is actually about knowing that if you don't work, you'll be homeless and starving.  A person with rich family members is less likely to have to worry about that.

+1 I grew up in poverty. The biggest reason I work now is to avoid going back there. Ever.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #43 on: February 21, 2013, 02:06:27 PM »
It's an interesting hypothesis, but I'm not sure it's convincing. Why would having experienced a time where the need for work was that strong somehow make you enjoy work more? I could see how it would make you appreciate work more, and perhaps even make you tolerate the negatives of a workplace better, but I don't know that people who have been in poverty are actually wired to enjoy their jobs more than people who grew up in a life of relative privelege.

I don't think it is about enjoying work more.  I think it is actually about knowing that if you don't work, you'll be homeless and starving.  A person with rich family members is less likely to have to worry about that.

Agreed, but why does that make the former individual more likely to be ambivalent about early retirement? Jamesqf can't imagine retiring ever and posits that one reason people like him might hold this view is because of their experience with poverty, thus my question. The more I think about it, I am willing to admit that my (relatively) priveleged upbringing has probably contributed to my personal disatisfaction with work (although it is definitely not the driving force behind that disatisfaction), but in many ways that is a separate question of cause/effect.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #44 on: February 21, 2013, 02:09:06 PM »
I don't think it is about enjoying work more.  I think it is actually about knowing that if you don't work, you'll be homeless and starving.  A person with rich family members is less likely to have to worry about that.

+1 I grew up in poverty. The biggest reason I work now is to avoid going back there. Ever.

So the motivating factor is fear? That's definitely understandable, but do you share Jamesqf's view that you couldn't imagine retiring? If so, why? Is it because you enjoy working so much or because of your deep rooted aversion to regressing back to that impovershed state? I haven't had that experience, so I can't claim to know how it affects you. It's a very interesting topic, though.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #45 on: February 21, 2013, 02:15:24 PM »
Lagom, no, the motivating factor isn't fear. It's a desire to have a happy and fulfilling life. For me that requires an income and a steady, reliable way to get it, ie, a job, a source of money. Money is the way I know how to obtain some of the creature comforts that a modern life has to offer. I can absolutely imagine retiring and do so on an almost constant basis! And achieving FI is the way to retirement for me.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #46 on: February 21, 2013, 02:24:00 PM »
Lagom, no, the motivating factor isn't fear. It's a desire to have a happy and fulfilling life. For me that requires an income and a steady, reliable way to get it, ie, a job, a source of money. Money is the way I know how to obtain some of the creature comforts that a modern life has to offer. I can absolutely imagine retiring and do so on an almost constant basis! And achieving FI is the way to retirement for me.

That sounds just like what motivates me! In other words, my job is only a means to an end. The end will be much sweeter than the means. Which is why, while interesting, I'm not sure I can agree with Jamesqf's hypothesis. Some people might be hard wired to enjoy working more than others, but I’m not sure if the level of wealth in their upbringing has much to do with it. In fact, some of the least mustachian people I know grew up in poverty and now use their high incomes to make up for lost time by spending lavishly and saving minimally.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #47 on: February 21, 2013, 03:00:09 PM »

So the motivating factor is fear? That's definitely understandable, but do you share Jamesqf's view that you couldn't imagine retiring? If so, why? Is it because you enjoy working so much or because of your deep rooted aversion to regressing back to that impovershed state? I haven't had that experience, so I can't claim to know how it affects you. It's a very interesting topic, though.

For me, the motivating factor comes from somewhere related to not wanting to squander my chance at really making a change, when my parents worked so hard to give me the opportunity to go to university without massive student loans (they paid for a few semester's tuition, and my Dad sometimes bought me groceries when he knew I was just eating Mr Noodles all the time).  Part of the drive also comes from not wanting to ever have to worry about money, or to have my kids have to worry about money.  I remember being about 10 years old, and I wanted to cash my flyer route paycheque on a Friday evening so I could have money for something the next day.  My Dad took me to the ATM, and I signed the cheque over to him (it was for about $20).  He put it into the bank machine, but because he was in overdraft too far, he couldn't actually take my $20 out for me.  He was so embarrassed, and I remember that.

I want to live like money is a tool, and not in fear of never having enough to support myself.  My Mom always told me to make sure I could support myself, and not to depend on anyone else to do it for me.  That is also part of where my drive for monetary success comes from.  I don't want to raise kids that are spendthrifts, but I also don't want my kids to grow up always in fear of never having money.  I'm not any worse for wear, from hearing 'no' a lot as a kid, but it certainly did help teach me the value of a dollar.  I remember working at McDonalds, and making $6/hour in grade 10, and thinking that I'd have to work for 12 hours to pay for one pair of jeans from the mall!  No way man, I was going to be buying all my clothes at the Fields store in town instead, where things were usually under $10/item, still brand new.

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Re: "That's glory for you" - AKA Why Retire?
« Reply #48 on: February 21, 2013, 06:01:17 PM »
The more I think about it, I am willing to admit that my (relatively) priveleged upbringing has probably contributed to my personal disatisfaction with work

I grew up on WIC and AFDC and section 8, when to a public school that ended up getting shut down and demolished, neighborhood gun shots were commonplace enough to not be cause for alarm.

Yet I've never found a job, in 17 years, that I could tolerate 40 hours a week of, and I seriously doubt such job exists.  I know I could make a lot more money if I attempted to work more, but I'd rather live in a trailer and delay retirement by a decade than have a 9-5 job.

I have enough confidence in my ability to provide value for someone in someway that I have no fear of being unemployed (plus, I have quit enough jobs without notice and successfully found something else within a month - frequently in fields I had no previous experience in - to know its pretty easy)

What growing up poor taught me was how to be comfortable on less.  We never had cable, usually didn't have a (running) car, I had to do my own bike repairs or walk, only had cable if we pirated it, never ever ate out.  Later I paid for college with grants and part time work.  And once I started making money, I saw no reason for lifestyle inflation, so the ERE/MMM transition was easy. 

Nords

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Re: "That's glory for you" - AKA Why Retire?
« Reply #49 on: February 21, 2013, 07:57:16 PM »
Agreed, but why does that make the former individual more likely to be ambivalent about early retirement?
I think that it's common enough among women to be known as "Bag Lady With Cats" Syndrome.  And before that's interpreted as an opportunity to make fun of women, let me point out that there's the equivalent phenomenon of control freaks guys (and it's almost always guys) with huge... spreadsheets... analyzing their retirement finances and deciding to work for "Just One More Year" Syndrome. 

I also think that people who find avocations with complexity, autonomy, and fulfillment* have no need to ever "retire".  The stereotype of this situation is self-employed lawyers & doctors, or university professors.

* Malcolm Gladwell's "Outliers"

 

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