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ben johnson & co.

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Want to retire early? 3 things you must know. 

7/17/2015

1 Comment

 
For several years I’ve had the dream of early retirement seared into my brain. I’ve read the 4 Hour Work Week half a dozen times, and every blog post from Mr. Money Mustache and other early retirement bloggers. This summer I shifted my weekly work hours from 30 down to 15. Come this fall, if I’m in the office it’ll be because of how much I love it there, not because of need. 

When you think of early retirement it’s important to get a few things straight before dreaming of a hammock swaying in a tropical breeze.

#1 - Early retirement is about freedom, not comfort.
The bloggers on early retirement make it pretty clear that the lifestyle of early retirement does not involve cash-burning adventures around the world and endless parties. It simply means the removal of having to work for pay, replaced with the ability to play at work. You can now be a carpenter, landscaper, graphic designer, dodgeballer, or writer without the need to be rewarded with money or the risk of being fired for incompetence. This blog is living proof of that.

#2 - Your lifestyle costs will naturally dwindle.
If you look at your expenses, how much of them are related to the cost of doing your job? If you didn’t commute into work each day how would that change your gas bill? What practical purpose would your car serve? Dry cleaning your clothing to look good in the office? Paying for lunch around the corner because you didn’t prepare something in advance? Most of your budget is actually just normal expenses with a hefty convenience tax piled on.

#3 - You may need to work to socialize.
Retirement clubs have a strict ‘grey-white hairs only’ rule. The popular sport among this group, pickleball, is not for the early retiree. Victoria has its share of retired ladies sure, but they’re fully engaged in knitting and book clubs. If you’re looking for a good place to meet smart people like you, you might have to go where they are - at work! And, you’ll need to figure out an answer to the question, “what do you do?” when meeting new folk. My theory so far is that anything other than “I do XYZ at ABC Co.” turns the conversation down a weird and short path.

It’s early days, but I want one theme of my writing to be around personal finance. It’ll be geared around the central purpose of freeing yourself from the sin of wages. If you have any ideas for topics post them here in the comments or email me at hello@benjohnson.co!
1 Comment
Steve Benjamins link
7/17/2015 02:57:50 am

I was raised to believe "serious" work was about making money. Work that was more about intrinsic satisfaction was nice, but ultimately a bit trivial. Which is a sensible lesson to teach a kid— I mean we all need to earn some money.

But that belief becomes unhelpful at a certain earnings threshold when all of a sudden merely "earning more" loses the sharp urgency it once had.

Deep-seated beliefs are funny, they can linger on when we no longer need them. Assumptions about "serious" work can blindly lead us to pursue more money, more money in an endless recursive spiral ...

I guess what I'm saying is transitioning into early retirement brings up a lot of very interesting psychological questions :)

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