Exploring the challenges of early retirement, from regretting leaving the perfect job to struggling with a lack of purpose. Some find it hard to stay motivated without financial incentives, while others realize they didn't budget enough for enjoyable activities post-FI.
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Quick takeaways
Personal readiness is crucial alongside financial preparation for early retirement.
Having a clear purpose and structure in retirement is essential to avoid emotional challenges.
Deep dives
Challenges of Early Retirement Expectations
Some individuals who have achieved financial independence and retired early have found the experience to be different from their expectations. One post titled 'Fire Didn't Work Out for Me, I'm Voluntarily Going Back to Work' highlighted a person who struggled with social isolation and lack of fulfillment after leaving their job. The individual realized they were unprepared for the personal transition that followed financial independence, emphasizing the importance of considering personal readiness alongside financial preparation.
Struggles with Post-Early Retirement Depression
Two individuals shared their experiences of feeling depressed after retiring early, despite engaging in activities they initially enjoyed. They struggled with a lack of motivation, aimlessness, and feelings of emptiness. The stories underscore the significance of having a clear purpose and structure in retirement to avoid potential emotional challenges and maintain fulfillment.
Financial Considerations in Early Retirement
One individual regretted retiring early due to financial constraints that restricted their lifestyle choices. They missed the financial resources for activities like attending yoga classes and non-camping vacations. The importance of thorough financial planning, including budgeting for desired activities and maintaining flexibility, was evident in this post as inadequate funding for essential needs influenced the decision to return to full-time work.
Imagine hitting your FI number, retiring early, and discovering you hate it? In this episode we discuss four examples of such an outcome: from quitting the perfect job and regretting it, to feelings of depression and lack of purpose. Some are unable to find motivation without financial incentives, while others realize they haven't budgeted enough to do things they enjoy in life.
This is part 2 of our How NOT to FI/RE series for part 1 and the PRE FI/RE examples, be sure to check out that video here: https://youtu.be/Jb438jvebd0