Why We Need A #neverretire Movement (It's Not For The Money)

For many of us, our identities and relationships are tied to work. When we stop working, we become lost.

What is your perfect job? Design it to be so, and then do it forever! Photo by Nick Fewings on Unsplash

My mom gets energy from her relationships. She’s a small-town realtor in central Wisconsin. Her identity, friendships, purpose, and self-worth are all tied to her job. My mom is a hard worker.

She watches her spending and saves. She's won the game with her real estate, retirement accounts, and cash in the bank. My mom is ready for that next phase of life.

But I told her never to retire.

“We should start a #neverretire movement.

Instead, let’s get to that magical place called financial freedom as quickly as possible.

Then, we can work on our terms: when, where, how much, and for whom we want! We can magnify the highlights and cut the lowlights of the job.

And best of all, we keep our social status, relationships, sense of purpose, and continue to grow.”

Smart, Wealthy People Can’t Stop Working

Why not retire? Traditional retirement has lost its appeal. Less common are the days of working to age 65, then relaxing for the next 10–15 years.

Yes, some go back because they need the money. But let’s look further.

People are living longer and having second careers. Returners are a new class of workers. Programs throughout the United States are helping older workers return to work.

Typical retirees return to work

A study by Paychex, a payroll services company, revealed that 1 in 6 retirees have considered returning to work. A side note: over 50% of those prefer to work remotely.

Deciding to unretire is a personal decision. Many do it for health benefits. Others do it to fulfill their sense of purpose. Many, like my grandfather, do it for social benefits. Ken Steffen owned a plumbing and heating shop and retired when he found it difficult to bend, kneel, and lift as the job required.

“Soon, I was so bored I started rotating the wheels on our vacuum cleaner.” -Grandpa Kenny, master plumber

In retirement, he found Ace Hardware. My grandpa liked to plumb and heat, but he loved to chat with customers. Ken was the store's most knowledgeable, friendly, and helpful employee.

Early retirees return to work

A new breed of retiree has emerged from the Financial Independence/ Retire Early (FI/RE) movement. Those who FI/RE spend little and save a lot. Their goal is retiring in their 30s and 40s, then living off portfolio income.

Most early FI/RE bloggers and podcasters have reached financial independence. They no longer need to work. Yet many have found doing nothing quite unappealing. They do the travel thing but often return to work… usually through an online business, to maintain their freedom.

And then these FI/RE idols get trolled online for not retiring when they could. It’s a little ridiculous. The prolific FI/RE blogger, Pete Adeney, has broached the subject on his popular Mr. Money Moustache blog. It’s work. It’s okay.

Wealthy retirees don’t retire

Jonathan Sheats is a financial advisor and host of the Radical Personal Finance podcast. He has developed personal financial plans for hundreds of individuals over the years. Jonathan found that:

“Individuals short on retirement savings can’t wait to retire. But those with adequate or even more than enough savings don’t want to retire. They love their work too much.”

Let’s break down what these smart, successful, wealthy people love about their work. What is it, besides the money, that keeps them going?

It also provides:

• Sense of purpose. Work aligned with your personal values is fulfilling.

• Status and self-worth. Skills and experience built over the years earn you respect.

• Connection to people. You form strong relationships with colleagues and clients.

• Avenue for growth. Getting better at your job is highly rewarding.

#neverretire Has A Deeper Meaning

Jonathan gives the example of an international patent attorney who works 20 hours a week and takes month-long vacations. He makes $500,000 per year. He’s respected for his expertise, proud of his client service, and connected to a network of friends and colleagues.

Jonathan’s point: Why give that up?

I agree. I am pursuing the same. I plan to earn enough money to no longer need to work. Yet, I will choose to keep working. I want to stay sharp, maintain relationships, and contribute to society.

It’s a movement. I call it living your choosy lifestyle. You are no longer bound by money or time constraints. You are free to design your life and work as you want to.

And a bonus for those of us still working:

A retiree’s state of mind differs from those of us still working. A retiree can experience feelings of disorientation due to a loss of control. This can lead to a scarcity mindset.

Those not yet retired can imagine the shift in mindset but cannot feel it. It’s a feeling of smallness. If you #neverretire, you stay in control and keep your abundance mindset. You get to go on living your best, big life.

As my mom creeps up on 70, she may start to sell fewer houses… but only for the best customers and during the time of year she wants to work.

She will work less to enjoy her other personal passions. But she should never stop.

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Brian Herriot puts off retirement from his home in Alameda, California, and cabin in Hazelhurst, Wisconsin. He prepares financial freedom plans for consultants and other mid-career professionals in one-week sprints. Check out his take on a new and different kind of retirement at choosyconsultant.com.