In this engaging discussion, Jason, who balances a part-time job with his pursuit of passion, and Lorri, also embracing post-financial independence work, share their insights. They explore the joys of 'barista fire'—working for enjoyment rather than necessity. The conversation also delves into the value of time, the pleasure of turning hobbies into income, and how charitable pursuits enrich their lives. Listeners will find inspiration in their reflections on personal fulfillment and the social connections formed through passion projects.
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Quick takeaways
Post-financial independence, individuals often pursue work for personal fulfillment and passion rather than financial necessity, redefining their relationship with income.
Retirees frequently engage in community service and volunteerism, utilizing their time and skills to make meaningful contributions, emphasizing purpose over profit.
Deep dives
The Complexity of Financial Independence
Achieving financial independence often leads to unexpected desires for continued income, which may seem contradictory. Many individuals find themselves pursuing work or side projects for reasons beyond financial necessity, such as personal enjoyment or fulfillment. For instance, engaging in jobs that align with passions, like teaching about wine, can provide not just extra income but also a sense of purpose. This dynamic reflects how the motivations behind earning money can shift in retirement, with work becoming more about passion and less about survival.
Passion Projects and Enjoyment
Many retirees embrace passion projects that allow them to explore interests they previously lacked time for, enriching their lives in the process. These endeavors, whether related to hobbies like brewing or creating crafts, can be engaging without the pressure of financial gain. For example, turning a travel sketching hobby into an Etsy business showcases how personal interests can evolve into income-generating activities, albeit with modest returns. The exploration of these interests not only provides potential financial benefits but also enhances personal fulfillment and social connections.
The Value of Time vs Money
In retirement, the value of time becomes a critical consideration, often overshadowing monetary calculations. Many individuals find themselves grappling with how to gauge the worth of their time when undertaking work, leading to a broader reflection on life priorities. The podcast highlights how some choose to engage in lower-stress jobs to maintain a connection to the workforce while preserving their quality of life. This ability to calculate time value creatively addresses the balance between enjoying life and the necessity of monetary earning without succumbing to excessive work obligations.
The Importance of Giving and Community Engagement
After achieving financial independence, many individuals seek meaningful ways to contribute to their communities, often shifting focus from financial donations to volunteerism. Engaging in charitable work, such as volunteering at local clinics, reflects a broader perspective on giving, where time and skills can be just as valuable as money. The podcast illustrates how retirees can utilize their newfound time to make a positive impact, enhancing their sense of purpose while fostering connections within the community. Balancing financial stability with impactful giving becomes an enriching factor in life after retirement.
Why would anyone continue to work for money once they've achieved financial independence? In this episode, Eric and Jason discuss this common practice, including why Jason and Lorri currently have part-time jobs post-FI. Topics covered include de-risking retirement, charitable giving, skill-building, and more.