Why do they still work?

My dad retired when he turned 55 because he could access his Telstra super (defined benefits). He didn't like his work and so he retired as soon as he was able to get the super. Plenty of income coming in...

 

I think problem is most people wrestle with the word "plenty" ? including me i have to be honest...

Is "plenty" defined as cash flows or net worth?

 

I'd sell it and buy one half the price or less and live off the rest very easily but that's just me

 

In this case, I'm happy to say cashflow.

 

is investing = work ?
seriously I love the stock market, I don't think I ever stop, I love the reading, the action the excitement of new day brings, new thing to analyse and play, the excitement of holding a short position coming true or picking up million dollars business then watch it turn into billion etc...

and best of all it can be done anywhere anytime and without breaking too much sweat
I still remember picking up dominos for 2.20 many years ago while holidaying down the coast

 

Nice, how did you do it so young?

 

Not in a position to retire just yet, but I love being around people from all wakes of life. At work, there are a couple of my work colleagues who came back from retirement and they came back because they missed the thrill of coming into work and the satisfaction of doing a good job at the end of the day. Also, their significant other told them to go back as well!!! Not sure if it's a urban myth but it's said that quite a few people do drop dead in a space of within a year when they are retired, but that could be due to their being of a mature age demographics. You do see some other older people such as Warren Buffett and Rupert Murdoch still at work and still being pretty sharp in mind.

 

Happy to share my story if anyone is willing to hear it. Should I start a new thread? Which subforum?

 

Definitely, this category - Investor Stories & Showcase

 

Just imagine if Mark Zuckerberg, Steve Jobs, or John Kennedy retired when they had enough money. Or how about if the Smorgan Family chucked in the towel as soon as mum and dad had enough to live in comfort.

The world owes a debt of gratitude to the very small who want something bigger than themselves.

Money is one way to measure success. It is not success.

 

Idle time is the devils plaything

I see some people who have completely retired for decades and it becomes a bit of a hotbed for mental illness IMO. Depression, anxiety, super low tolerance of anything outside of comfort zone, substance abuse....I can see how this could slowly happen if you were once active enough to reach early retirement but then have everything stop for a long period of time without any care or responsibilities. Especially if you are still mentally sharp and physically able to do things

 

Working for the satisfaction is all good, but the OP was questioning more about those still working in jobs they hate.
Why would anybody who is well and truly financially free choose to do this?
Doing something you hate is pointless.

 

so @Terry_w turning the tables given your knowledge you should be able to retire?:

if so why have you not retired?

 

Just imagine if Mark Zuckerberg, Steve Jobs, or John Kennedy retired when they had enough money. Or how about if the Smorgan Family chucked in the towel as soon as mum and dad had enough to live in comfort.

The world owes a debt of gratitude to the very small who want something bigger than themselves.

Money is one way to measure success. It is not success.

if you are doing something you hate do not wait until you retire

You can choose

 

We owe a debt of gratitude to Zuckerberg?? I totally disagree. Facebook and social media is one of the worst things that has happened to society.

I get your point, just disagree on MZ.

 

My inspiration is Elon Musk - made his millions from PayPal - could've retired if he wanted.

However, he chooses to spend his time finding ways to better humanity through huge leaps in technology.

 

I think we are comparing 2 different ends of the spectrum.
Professional, specialists, entrepreneurs, business people, etc. would more likely be happier to continue working for enjoyment and personal satisfaction than say bricklayers, cleaners, truck drivers, shop assistants, etc.
If smart or lucky investments can get this second group to financial freedom, it's highly likely they would "retire" as soon as they could.
Retiring from paid work does not mean living the typical pensioner lifestyle.
It can simply mean "unforced" work.

 

I agree. Retirement due to financial freedom is basically choosing what you want to do with your time. Some people like to complain, and they like having an audience to complain to.. so they keep going to work even though they could 'retire'.

 

Being retired for nearly 6 years, I believe it is both. Also, one can manipulate one to increase/decrease the other.

We have an annual income/cashflow target. Some of our income is mandated (eg self funded pension) and the remainder can be manipulated. Over the last 5 years, we have always exceeded our income target.

As I have posted previously on PC, we also monitor our assets, liabilities, net worth and our SMSF balance (as it provided us with the income that we live off) at the end of every Quarter. Over the last 5 years in retirement, our SMSF balance and our net worth continue to increase.

This is showing us that our approach is sustainable.

 

My main gig is driving a small bus for the Leukaemia Foundation. We pick up patients and carers from four accommodation centres and take them to various hospitals around Brisbane for treatment. I do at least one 4-hour shift per week.

When/if I can score a job, I also drive for Angel Flights. This involves using one's own car and taking people (country folk and mainly Mums with sick kids) from Archerfield airport to their hospital/accommodation place and/or the reverse.

I was also a driver for G20 and team leader at Brisbane Airport for the Asian Cup. I have registered as a driver for the Commonwealth Games next year.

In case you haven't worked it out, I like driving .

But I do it for very selfish reasons. I get such a buzz out of helping people who are going through a tough patch. Being paid would spoil it for me.