Bored at work? Have a dream? Looking for leisure? Just want to try something new? Maybe it’s all of the above. Your motivation for digging into early retirement doesn’t have to be pure or simple, and you don’t necessarily have to wait till you are financially independent.
The Cubicle Conundrum
The standard outsiders view of the F.I.R.E. community tends to boil down to escaping the rat race. If you are dissatisfied at work you might dream of the day you can just walk away. This may be a motivator for many early retirement dreamers, but I don’t think it’s the only one. It may not even be the most important. But if it is one of your motivations you might rethink your strategy.
The Cubicle Conversion
If you are dreaming of F.I.R.E. because of poor working conditions you may want to seriously consider a job change. There is no reason you can’t be happy at work and also pursue early retirement. Just make sure you have your next position in hand before you quit.
I have a dream
Maybe you dream of doing something impractical. Perhaps you would rather write than do taxes. Maybe you want to work at a soup kitchen or travel the world by bicycle. Whatever you plan to do in your golden years take some time to preview right now.
A Life of Ease
What if you just dream of working out at the gym and playing video games or pursuing other hobbies. You can’t really get down to serious leisure till after you reach financial independence, right? Perhaps not. What if you took a sabbatical.
Making it Work
You could negotiate a one month vacation or maybe two. Some might be unpaid time off so you’ll need to dip into savings. This will require some planning. It might take a year to save up the required cash. It might take that long to convince your employer to let you have the time off. Maybe you are getting ready to move to another office and you can arrange a break during the transition. Get creative and you might find a way to scratch that itch early.
Will a Sabbatical Derail my F.I.R.E.?
In one sense yes. You will probably have to postpone your ultimate retirement to fit in a sabbatical. It will at the very least cost you whatever wages you forgo and the expenses you carry during that time. This might be a big deal or it might not. Late in the game, it might not set your investments back much at all. Early on, the effect will be greater. It might still be worth it though.
Just Bored
Perhaps you are dissatisfied at work because you are too good at your job. What if you’ve been doing the same thing for ten years and you just don’t get the same satisfaction as you used to. The work isn’t the problem, you just aren’t experiencing that exciting growth anymore.
Something New
If boredom is driving you to F.I.R.E. then you might want to take stock of your job. Can you train up or perhaps across your industry? Is there a challenge that keeps popping into your head at random times?
The Next Frontier
Those thoughts you keep having about getting some new training or perhaps doing a master’s or bachelor’s degree in the evening are valuable. Your mind likes to explore the frontier. You are naturally drawn to things that will fulfill your sense of exploration. Go ahead and take a class or two. Explore your options now while you have financial stability.
All of the Above
What if your motivation is a mixture of all of the above. I find myself in this situation. I do have some dissatisfaction at work but not too extreme. I have gotten to a stale point in my current career. I enjoy trying new things and I think that is another driver. I also wish I had more time to myself. I want to work on hobbies and read books and write.
You can have it all
If you have complicated motivations like I do, you might be a bit uncertain about how to scratch all the itches. I’m here to tell you, you can have it all. Just maybe not all at once.
Serialize
If you need a break and a change you might be able to do both at once. Moving to a new office within the company or moving to a new job entirely might be a great opportunity to take a break at the same time. Or you could just take one thing at a time. Take a sabbatical. See if that gets you back on track. If not try moving jobs. While you are at it you could think about moving closer to work to give yourself more time to pursue hobbies. Start writing that book now. You can do almost anything you have planned for retirement right now in small doses.
Give up on F.I.R.E.?
What if you scratch all the itches and you find that you no longer daydream about retiring. Perhaps you give up on extremely early retirement because you are happy with your new job. That’s not a bad thing. You might find that you no longer see a need to cut expenses to the bone. I’m thinking along these lines myself.
Is F.I. Enough?
I’m not going to go back to my old ways of saving minimally and living at the edge of my paycheck. I’ll still be pursuing financial independence. I will still be tracking my net worth and saving aggressively. But I will also be moving to another area with my current employer. I may take my foot off the gas just a tiny bit and work more on enjoying my current situation.
Does F.I.R.E. make you miserable?
Does dreaming of the idyllic retirement make your current situation feel even worse? You might need to back up a step. Don’t allow your desire for financial independence to sour you on everything else. Take the time to explore your options today. You might find that writing that novel is kind of boring. Leisure time might get stale too. You might find that your work is not as bad as you thought.
