Don’t be fooled by early retirees who only crow how amazing early retirement life is. However, I promise you your expectations about retirement and the reality once you are in retirement will be different. Further, you can assume a high safe withdrawal rate when you are gainfully employed. It’s easy to pontificate what you should and shouldn’t do in retirement. You won’t really know what early retirement life feels like until you actually walk away from a steady paycheck. Finally, spending two years writing and six months marketing my new bestselling personal finance book has taken a lot out of me. With the economy also slowing, grinding harder if you don’t need to grind harder is a suboptimal choice. Taxes are going up, reducing the return on our effort. Fatherhood during a pandemic has been at least 50% harder than even the hardest years I had in banking. Today, however, I want to truly re-retire by 2023 because I’m so damn tired after the pandemic! I’ve been a stay-at-home father of two young children, 2.5 and 5.5. And such things ended up making me money, hence my fake retirement. Over the past 10+ years, I ended up actively doing a lot of things that provided meaning and purpose. As a result, I now call myself a “ fake retiree.” Since leaving my day job in 2012, I’ve redefined what early retirement means to me. Then I unretired a year later because early retirement felt unnatural. I retired early in 2012, at the age of 34.
But there are negatives of early retirement life that also needs to be discussed. Early retirement sounds great and it is great for the most part.
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