Author Topic: Post-FI advice  (Read 1175 times)

a1pharm

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Post-FI advice
« on: July 21, 2020, 08:28:50 AM »
So in 6 years, I'll be FI enough (mortgage gone, college savings topped off for my kids, investments allow for 4% rule drawdown).  I have been focused on getting to this point for years, and am now looking for advice for post-FI from people who have/are there:

What have you done with all of your extra time?

I don't dislike my job, the pay is incredible, and the hours are not insane.  If I continue to work, I am at a loss for what to do with all of the extra money.  If I RE, I am at a loss for what to do with all of the extra time.

Help please!

affordablehousing

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Re: Post-FI advice
« Reply #1 on: July 21, 2020, 10:18:43 AM »
go see a shrink, you have 6 years to figure it out.

Eowynd

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Re: Post-FI advice
« Reply #2 on: July 21, 2020, 10:24:35 AM »
You could start an organic garden farm.  This is what my Mom did when she retired last year.  This way, you will have a use for all of your extra money and there will never be enough time to get everything done.

On the bright side, you will have tons of time spent outdoors in beautiful nature and some of the best tasting food that you will ever eat.

a1pharm

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Re: Post-FI advice
« Reply #3 on: July 21, 2020, 10:27:45 AM »
You could start an organic garden farm.  This is what my Mom did when she retired last year.  This way, you will have a use for all of your extra money and there will never be enough time to get everything done.

On the bright side, you will have tons of time spent outdoors in beautiful nature and some of the best tasting food that you will ever eat.

That would fill the time, but it doesn't sound more rewarding that working.  I already get to spend quite a bit of time in nature (I live in the country).  I guess I'm just pre-planning my mid-life crisis?

Eowynd

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Re: Post-FI advice
« Reply #4 on: July 21, 2020, 10:45:07 AM »
You could start an organic garden farm.  This is what my Mom did when she retired last year.  This way, you will have a use for all of your extra money and there will never be enough time to get everything done.

On the bright side, you will have tons of time spent outdoors in beautiful nature and some of the best tasting food that you will ever eat.

That would fill the time, but it doesn't sound more rewarding that working.  I already get to spend quite a bit of time in nature (I live in the country).  I guess I'm just pre-planning my mid-life crisis?

You could start learning a martial art that you could study for your whole life and never master it.  That's what I did when my plan for my life abruptly ran out and I had to find something to fill the time for the next ~50 years.

I can throw a hundred suggestions at the wall but you didn't give us any hints on what your interests are.  Are you looking for suggestions or just a general discussion on how it's hard to find meaning and purpose in life once you've "made it"?  If it's the latter, I feel for you.  It's not easy.

Something that I have found helpful is to read several different books on what makes human beings happy in general.  Then, specifically, try to increase those things in your life and reduce anything that makes you unhappy. 

Example: people are generally happier when they feel like they are part of a community.  Action: find a community (or two) of people that you enjoy being a part of.

2nd example: people are generally happier when they give back or contribute to a cause that is greater than themselves.  Action: find a volunteer opportunity that you enjoy or a charity that you believe in to contribute to.

MonkeyJenga

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Re: Post-FI advice
« Reply #5 on: July 21, 2020, 10:49:42 AM »
If you end up with the problem of too much money, not enough to spend it on, there's always charity.

If you want to have a fulfilling life outside of work in 6 years, start by building a fulfilling life outside work now. What do you do with your free time now?

Megs193

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Re: Post-FI advice
« Reply #6 on: July 21, 2020, 01:48:48 PM »
This question is what kept me from wanting to retire.  My husband loves his job and has no interest in retiring so the months of travel that I was planning to do to keep myself occupied has to wait. So far the things I have come up with are -

- Spend more quality time with my kids
- Learn fluent Spanish (I took Spanish in high school and use basic Spanish at my job. I want to be fluent and then go on a trip to practice)
- Start a vegetable garden
- Start a travel with kids podcast (we travel all over with our kids and people always ask us questions about how to make it easier)
- Cook from scratch more often
- Improve my physical fitness
- Read as often as possible

Also, as it turns out I will be working very per diem at my job. When I quit they countered with an offer that was too good to pass up.  4 days a month with extra money. I work in health care and enjoy my job but donít want to go there every day.  Going there one day a week is a perfect balance for me. Depending on what you do there is always an option to do it on a part time or contract basis to ease yourself into retirement.

zolotiyeruki

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Re: Post-FI advice
« Reply #7 on: July 21, 2020, 02:35:41 PM »
If you end up with the problem of too much money, not enough to spend it on, there's always charity.

If you want to have a fulfilling life outside of work in 6 years, start by building a fulfilling life outside work now. What do you do with your free time now?
^^^This, with a slight modification:  "If you end up with the problem of too much money, not enough to spend it on, I'd be happy to take it off your hands."

Goldendog777

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Re: Post-FI advice
« Reply #8 on: July 21, 2020, 07:05:02 PM »
I went back to school.  Iím currently working on a bachelor in science in nutrition.  Iím super interested in health and longevity so itís been great so far. 

trollwithamustache

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Re: Post-FI advice
« Reply #9 on: July 21, 2020, 07:19:43 PM »
This is why I became an independent contractor. There is a lot of technical work I really enjoy, and a lot of admin crap I don't... The more FI we get, the pickier I am about work in terms of interesting work or working for some people I really enjoy/respect  and it makes work very very enjoyable.   

This is of course not strictly proper MMM as I have been easing towards FI and not rocking for a while now.

a1pharm

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Re: Post-FI advice
« Reply #10 on: July 22, 2020, 02:18:53 PM »
You could start an organic garden farm.  This is what my Mom did when she retired last year.  This way, you will have a use for all of your extra money and there will never be enough time to get everything done.

On the bright side, you will have tons of time spent outdoors in beautiful nature and some of the best tasting food that you will ever eat.

That would fill the time, but it doesn't sound more rewarding that working.  I already get to spend quite a bit of time in nature (I live in the country).  I guess I'm just pre-planning my mid-life crisis?

You could start learning a martial art that you could study for your whole life and never master it.  That's what I did when my plan for my life abruptly ran out and I had to find something to fill the time for the next ~50 years.

I can throw a hundred suggestions at the wall but you didn't give us any hints on what your interests are.  Are you looking for suggestions or just a general discussion on how it's hard to find meaning and purpose in life once you've "made it"?  If it's the latter, I feel for you.  It's not easy.

Something that I have found helpful is to read several different books on what makes human beings happy in general.  Then, specifically, try to increase those things in your life and reduce anything that makes you unhappy. 

Example: people are generally happier when they feel like they are part of a community.  Action: find a community (or two) of people that you enjoy being a part of.

2nd example: people are generally happier when they give back or contribute to a cause that is greater than themselves.  Action: find a volunteer opportunity that you enjoy or a charity that you believe in to contribute to.

It's the latter.  I struggle to find meaning with consumption activities (travel, gourmet, watching, reading, etc.).  It is a bit better with production activities (building, woodworking, etc.).

This pandemic certainly puts into perspective what is not important/fulfilling (death preceded immediately by working 40+ hr/wk).

I'm thinking I'll need to find/surround myself with others who are in a similar boat (which probably means hanging out more with traditionally retired folks, which is fine).

I have young kids, so if both parents retire I'm worried that during their formative years they'll see mom and dad not working and having everything they want/need, and I think that might fuck them up a little bit.

RainyDay

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Re: Post-FI advice
« Reply #11 on: July 23, 2020, 07:58:17 AM »

I have young kids, so if both parents retire I'm worried that during their formative years they'll see mom and dad not working and having everything they want/need, and I think that might fuck them up a little bit.

If you have young kids, I don't see how you could possibly not find enough to keep you busy, unless you let your wife do literally everything.  Kids consume large amounts of time.
Plus, just because you're not leaving the house to go to work doesn't mean you're not working.  If you live in the country, there's a never-ending chore list to keep up a property. 
As one other poster said, what do you LIKE to do? 

MonkeyJenga

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Re: Post-FI advice
« Reply #12 on: July 23, 2020, 10:18:34 AM »
Why in the world would that fuck them up? It's a great example to see the freedom you can earn if you work hard and are happy with a reasonable level of comfort (and likely have some structural advantages).

Plus, kids normally don't see their parents working. All they really know is that you leave for the day and come back at night. If you have more time to spend with them, you get to actually display hard work and accountability and fun and charity and all that good stuff.

The kids are gonna want stuff you don't give em, by the way. They will care way more about that than whether their parents have everything they need. They can get part time jobs if they really want those things. Don't spoil your kids, and you'll be set.

a1pharm

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Re: Post-FI advice
« Reply #13 on: July 23, 2020, 12:33:49 PM »
Why in the world would that fuck them up?

Because they will see that mom and dad have and can provide everything they need with no effort on making money.  They were not alive or aware of the wealth accumulation phase.  This may warp their view of reality.

MonkeyJenga

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Re: Post-FI advice
« Reply #14 on: July 23, 2020, 12:41:08 PM »
So talk to them about that and make em get jobs in high school.

Malcat

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Re: Post-FI advice
« Reply #15 on: July 23, 2020, 04:20:49 PM »
Why in the world would that fuck them up?

Because they will see that mom and dad have and can provide everything they need with no effort on making money.  They were not alive or aware of the wealth accumulation phase.  This may warp their view of reality.

It won't fuck them up nearly as much as the kids watching their parents slave away at horrible jobs they hate, spending to fill the void, while they get more and more miserable, neglect their health and their marriage, and then end up bitter and fighting in the divorce over the possessions that never really mattered in the first place, while each parent pressures their kids to become doctors and lawyers even if they don't want to be.

There are worse things to have than financially responsible parents who are available and present and willing to talk about personal finance and the trade offs it takes to earn the kind of freedom that you did.

Also, you can't predict the lessons kids will learn from your example, that's not the way parenting works. If being retired will make you a better parent, do that. Otherwise, don't overthink it.

As for what you will do with your time, well, I retired a few months ago and it's awesome. I actually feel like I don't have enough time to do everything I want to do, and I'm having to start paring down the projects I take on because it's so easy to feel like you have all the time in the world, but you really don't. If you can't see all of the amazing things life has to offer, then it sounds like you've spent way too much of your time and energy working, and should probably get on with doing something about that ;)

a1pharm

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Re: Post-FI advice
« Reply #16 on: July 25, 2020, 05:30:31 AM »
If you can't see all of the amazing things life has to offer, then it sounds like you've spent way too much of your time and energy working, and should probably get on with doing something about that ;)

I can certainly see tons of fun things I would like to do.  My problem is that it feels shallow, and I'm looking for a more meaningful existence bought with my financial prudence.

bloodaxe

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Re: Post-FI advice
« Reply #17 on: July 25, 2020, 08:11:02 AM »
Endless things to learn, try, and discover in this life.

MonkeyJenga

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Re: Post-FI advice
« Reply #18 on: July 25, 2020, 11:11:18 AM »
If you can't see all of the amazing things life has to offer, then it sounds like you've spent way too much of your time and energy working, and should probably get on with doing something about that ;)

I can certainly see tons of fun things I would like to do.  My problem is that it feels shallow, and I'm looking for a more meaningful existence bought with my financial prudence.

Does your current job provide you with meaning? If it does, then identify in which ways you get meaning out of it, and apply it to other areas in retirement.

If it doesn't, well, retirement isn't the problem. You're back at needing to find a way to contribute meaningfully outside your job now. Actually, this is true regardless. Start now, so when you have more time, you can ramp up existing activities instead of trying to fill a void from scratch.

You said you get meaning out of productive activities like building things. What about lending your skills to habitat for humanity? Starting a tool library? Building little free libraries? Helping a homeless shelter get more solid furniture? Build raised beds for a community garden?

Bonus, you get the kids involved, and they'll see you working hard and giving back.

a1pharm

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Re: Post-FI advice
« Reply #19 on: July 25, 2020, 07:59:42 PM »
Building little free libraries? Helping a homeless shelter get more solid furniture? Build raised beds for a community garden?

Bonus, you get the kids involved, and they'll see you working hard and giving back.

Excellent advice, thank you!

MonkeyJenga

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Re: Post-FI advice
« Reply #20 on: July 25, 2020, 08:57:45 PM »
You're welcome! Hope you find a few options that are a good fit.