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| Murrells Inlet Marshwalk, SC |
Robin Williams: “There are no rules. Just follow your heart.”
At my last job as an IT help desk technician, I got to know many people who were in their 60’s and 70’s. There were times we would chat about their retirement and what that may look like. We also talked about when they would like to retire among other things…
It was all a good way to kill the time while we were waiting for the computer to finish rebooting after installing patches or updates. Each of those conversations left me wondering when my retirement would be…
Those conversations took place before I retired early in August 2020. Prior to that, I was just fascinated with how different people thought about their own retirement.
I could tell some wanted to retire soon, but couldn’t because of their kids, liked the steady income, and/or scared of the unknown. Back in 2018 or so, I heard about the passing of one of those colleagues who I had those conversations with.
He was someone who was looking forward to retiring soon, but he had succumbed to cancer, just 1 year prior to his retirement. I felt terrible for that person. He was talking about wanting to travel, to golf, and to see his grandkids more. He had paid his dues at the company and was really looking forward to his retirement date which unfortunately for him, would never come…
I always lamented why he didn’t just retire sooner so he can enjoy the things he wanted to do. I knew he was financially ready. I got the sense that he was just biding his time, waiting for the right time. In retrospect, I think he should’ve just done it sooner.
He was in his early 60’s, and he would’ve been eligible for Social Security within a couple of years. I think he wanted to get to 65 (Medicare eligible age) so he can feel secure knowing his health insurance would be covered, and monthly steady paychecks, compliments of Uncle Sam, would be coming…
The reason why I bring this story up is to tell anyone who is able to retire, to retire. As attractive as waiting one more year (then one more, then one more, etc.) to accumulate more wealth is, we just don’t know what our future holds…
Recently, a good neighbor of ours, Mark, back in Pennsylvania, passed away. We had talked about when he was going to retire as far back as early 2010’s. He was an avid deep sea fisherman and collector of all things cute. He would talk affectionately about his desire to move to the Caribbean to do more of deep sea fishing.
He was kind of person who would share his fresh catches on his many fishing trips down to North/South Carolina and Florida. We got to taste freshest tasting tuna thanks to Mark. In return, my wife would bring over her cooked foods to Mark as he lived alone.
He was always grateful for that, as were we…
He did manage to retire last October, but he didn’t get to enjoy his retirement much, as he died in January, just 3 months into his retirement. My wife and I were devastated. Mark was a gentle giant with a heart of gold.
He helped us during our downsizing, in preparation for our early retirement, back in the summer of 2020. He volunteered to fix our faulty dining room table, to buy several of our belongings, and to have his friend buy our furniture from us.
He really was someone who cared for others, and we will always be grateful we got to know Mark. He will be missed dearly…
Looking back, I also wished Mark could have retired sooner than he did, so he can enjoy even a few more months of his well-deserved retirement. He worked close to 40 years of his life. If anyone deserved to retire, it would be Mark.
Both of these instances taught me about the fragility of life. We simply do not know when our time is up. No one can predict the future, nor can anyone know the best time to do anything, including retirement. For that reason, I’d like to recommend anyone who is able to retire, to take that giant step, and to just do it.
I’ve read too many people waiting one year that becomes two years, then three and so on, until it’s too late…Yes, it’s better to have more money for retirement, and yes, it’s better to have Medicare coverage when you retire.
It’s not, however, the end of the world to have enough money to retire (if you’re already financially independent, how much is enough???). It’s not the end of the world to not have Medicare coverage (there are other ways to get health insurance).
I’d like to share my thoughts and beliefs on why you should retire, if you’re ready (financially, mentally), and not wait until the perfect time:
- As my two examples show above, retire now and enjoy life; don’t wait!
In an ideal scenario, everyone should work 40-45 years, be financially independent, and retire at 65 or later to get Social Security and Medicare. In real life, there is no ideal scenario.
Who’s to say working 40-45 years will guarantee financial independence? Who’s to say you can live to be 65 to collect Social Security and Medicare?
There are no guarantees in life. If you’re lucky enough to have saved ENOUGH, then make the jump!
Life itself is not guaranteed. You may die today, tomorrow, the next week. No one knows…
Instead of waiting for the perfect time to retire, just do so, if you’re one of the lucky ones who is financially independent. As an early retiree, I can tell you with certainty that I know I made the right decision after hearing about Mark.
- In an uncertain world, do the things that you always wanted to do which brings happiness…
I think everyone is in agreement when I say the goal of life is to be happy. Whatever this means to each individual may vary, but it’s undeniable that for most people, this pursuit of happiness usually equals spending time with loved ones, traveling, and/or having the time to do the things you always wanted to do.
If the ultimate goal is to be happy, then don’t deny yourself from the pursuit of happiness. Isn’t the reason for achieving financial independence to allow yourself to chart your own path, without the need to work for a paycheck for someone else? Getting a steady paycheck is comforting, but sometimes to achieve something, you have to be uncomfortable!!!
With financial independence comes the ability to pursue your passions, whether that’s doing nothing, or doing something. You can pursue your dream of moving somewhere you always wanted to (like Mark wanting to move to Dominican Republic), or pursue a passionate pet project (being a writer/blogger, following through on a business idea, etc.).
Don’t be that person who waited too long before enjoying the fruits of their labor. Since no one knows how long we have to live, it’s better to try something that you always wanted to, rather than waiting and waiting for more, for the right time.
I’ve seen too many people regretting things that could have been, should have been, or would have been…
If all of us know how long we’re going to live, then planning something like retirement is not a bad plan. However, since this is not the case, live this one life we’ve been given. Follow your dream and just do it already!
In conclusion:
The more stories I hear of someone I know dying before their retirement or right after retirement, the more it confirms my decision to retire early. My wife and I are really grateful we retired when we did…
Ever since I started to work, I always dreamt about retiring. I dreamt about all the places I would visit, getting up when I wanted to, and doing the things that I always wanted to do.
The price of working one more year, followed by another year, then another, would have been detrimental to our mental and physical health. It would’ve caused us to hate our lives more, and possibly lead to some terminal disease due to stress…
Once you’re financially independent, follow your heart and retire. Enjoy your well-deserved retirement after all those years of working, then do what you always wanted to do. If that’s seeing the world, binge watching on a Monday morning, or taking a siesta, the options are endless…
I wished our good neighbor Mark could’ve enjoyed his retirement sooner, but it’s too late for that now. I wish anyone contemplating retirement to consider this one advice:
Life is short, and we only get one chance to live this life. Follow through, if you’re financially independent, then enjoy your life, for we don’t know how long we have to live…
Thank you all for reading!
Jake
Wandering Money Pig
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