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I may be Financially Independent But I'm NOT Retiring!

Financial Independence

Being Financially Independent #financialindependence is hot on Twitter these days.

However I've noticed a couple blog posts throwing just a wee bit of cold water on the idea:

here is one of them.

This writer lists 3 reasons an older individual might not retire early:

#1 Downfall to retiring early – Health Care

Government granted insurance isn’t provided until age 65. Until then, he would have to self-insure. Currently, the political situation is less than stable concerning the health care coverage marketplace. Additionally, paying for health insurance out of pocket doesn’t come cheap.

#2 Downfall to retiring early – Change of Mind

Early retirees could easily find out that golfing all day long and traveling non-stop simply isn’t for them. It sounds like a dream when working five days a week. But what if it turns out to be everything but a dream when it becomes everyday life? With a big gap on your resume, it could become difficult to re-enter the workforce.

#3 Downfall to retiring early – Slow Down

His biggest concern by far was the fear of slowing down. Physically as well as mentally. Losing the mental stimulation of interacting with his customers and the physical routine of going to work caused him great concern. Retirement is only fun if it lasts a lot of years, Not just a few!

All of these are good reasons.

Unlike this individual, I am long past retirement age and I certainly don't need to work; I am Financially Independent .

I have:

  • built up a number of businesses,

  • owned and sold rental property,

  • 'flipped' houses,

and have a pretty substantial nest egg.

I say this, not to brag; but to illustrate a point; I work each day because I choose to, not because I need to!

What is your definition of work? Often this is the un-asked question when people say they no longer want to work, but want to retire early.

Being Financially Independent gives me options:

To me, work is something that you enjoy doing, creates a product or service for someone else's benefit and produces a reward that can be defined.

For example, the reason I became financially independent is due to the building up of a contract cleaning service and associated businesses. I no longer do the work, nor do I have a hands on, day-to-day management of the business. But roughly 5 to 10 hours each week I am in contact with the supervisors of the crews, order supplies as requested, do a daily monitoring of AP & AR. After 20 years of building the business, I am still in touch with it.

I work in my business because it is:

1.) an enjoyable routine that keeps me in touch with the business world,

2.) creates a satisfying workplace for my clients and employment for those who work for me, and

3.) a very healthy financial reward for me.

Teaching people how to start their own home based service businesses is my new occupation (work). Seeing people become debt free, pay for college for their children (or pay off a student loan), or prepare for retirement occupies most of my time today.

1.) It is enjoyable: I enjoy writing and doing the workshops,

2.) creates opportunities for others to break the financial shackles that are holding them back,

3.) and it is rewarding. I get hundreds of letters and e-mails from people telling me how much their lives have changed.

Yes, I do get to sit on beaches, travel extensively (the internet makes everything I do location independent), meet all kinds of interesting people, etc. Long past many people's retirement, I'm busier than I've ever been and think it's great!

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