Hey, everyone! It has been two months since Mrs. RB40 retired from her career. Unfortunately, she is struggling to transition to early retirement. This is a typical experience for many early retirees. Most people don’t like changes, retirement is a big change. Today, I bring you the view from the front row of my spouse’s early retirement show.
Loss of identity
The biggest problem with early retirement is losing your identity. One day, you are an expert in your field. The next day, you wander around at your PJ at home. This is a big loss and you need to adapt. Mrs. RB40 likes her job and doesn't want to retire. She left due to major changes in the organization. She feels useful and fulfilled at work. Now, she has no rudders.
Unfortunately, her retirement was a bit sudden and she had no chance to prepare for losing her professional status. When I retired from my engineering career, I had already lined up for a few things. This blog and a baby are waiting for me. I accepted my new role as SAHD/Blogger but never looked back. On the other hand, Mrs. RB40 has no chance to prepare and losing her identity is hitting her.
Stay busy
Not long ago, I shared a secret to a happy retirement. You have to be busy. If you have too much free time, you will feel bored and frustrated. Now, I see that this is not the whole story. Staying busy is not enough. Mrs. RB40 has been busy since she retired. She spent a lot of time in the garden, caught up with her hobbies, participated in activities at RB40JR, cooked, cleaned, rearranged furniture and more. However, I don't think these mean enough to her. IMO, she is very busy, but she is not satisfied. She may need to find a large purposeful project to delve into it.
Financial Fear
Mrs. RB40 is a frugal person, but she likes to spend money occasionally. When she works, she feels good about buying a new wallet or going out for a meal. Now she has no income, and she feels indifferent to spending on non-essential goods and services. From making money to reducing savings, this is a big psychological change.
This is probably why I'm still trying to make money with this busy blog and delivery side. My income doesn't matter, that is, the money for beer. OK, I stopped drinking beer anymore, but I just spent $65 on Legos. My ceramics course costs about $150 per month. I can use my busy income to something interesting, and I don't feel indifferent about it.
This year, we also have some big bills. We are remodeling the kitchen and the RB40JR's cochlear implant bill is hanging on our heads. (We appealed for insurance denial, but it didn't look good.) Mrs. RB40 is stressed over these huge fees. I don't think this is a big problem because we have enough liquidity.
Typically, we spend less than 3% of our net worth every year. I told Mrs. RB40 that in the long run, we will be fine, but she is a little stressed. She doesn't believe in the 4% rule.
Early retirement can be frustrating
After 2 months of early retirement, Mrs. RB40 was unsure about her feelings. She likes to have more personal time, but she is also a little frustrated. She no longer has to deal with office politics, but she missed personal interactions. The retirement transition has both positive and negative factors. Early retirement is not for everyone. For most average people, I think it's better to do the job you like. But these days are difficult.
Mrs. RB40 is still accustomed to retirement. She will take a break for the rest of the year and figure out what to do next year. If she is still upset, she may be looking for a side job or something. Come back next year to see what she will do next. 😉
Images of AI overlords, blogger killers and work destroyers everywhere. I bow before your strength.
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Passive income is the key to early retirement. This year, Joe is investing in commercial real estate with CrowdStreet. They have many projects all over the United States, so check it out!
Joe also strongly recommends providing personal capital to DIY investors. They have many useful tools that can help you achieve financial independence.
