Early Retirement Is a Lie (and I Fell For It)

We have all heard so many great things about financial independence, and early retirement. It sounds like a life full of sunshine and rainbows...but this is not the whole truth. The truth is that early retirement is a lie, and I fell for it. Don't get me wrong, I am not saying that you cannot use the principles of FI to build wealth, and financial security, and generate enough passive income to live off of for the rest of your life. No, what I am saying in this video is a lot deeper than that, and you need to watch it to find out!
Are you ready to get serious about achieving financial independence? Then watch this video next:
• It's Time To Get Serio...
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#earlyretirementlie
#donotretireearly
#financialindependenceretireearly
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This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Before making financial and legal decisions, consult financial and legal professionals licensed in your jurisdiction. Some links provided may be part of an affiliate advertising program designed to provide a means of compensation for referring traffic and business to other companies.

[@OnCashFlow]

Are you ready to get serious about achieving financial independence? Then watch this video next: kzbin.info/www/bejne/sHXUh5iNqdhmadU

[@jpny4750]

I stopped working when the pandemic started and just decided to wait it out. After a year of lockdowns I discovered that I really liked not being forced to give up my time for money, and thus decided to stay out of work. I had to create a budget that would allow that, and my choices were to either live more frugally or start working. Frugal worked for me just fine. It has been years now, and there is not a single day I am bored. It feels like I merely blink and the day is over. Have a list of hundreds of books to read and albums to listen to. I don’t have a desire to spend summers in Paris or cruise the Caribbean in the winter, so my savings will support my lifestyle even though I am living in a very high cost of living area. The big surprise for me was how much cheaper life is without expenses associated with work.

[@OnCashFlow]

Wow, what an amazing story. I am so glad that you have found a lifestyle that works for you and one that allows you to do the things that you want to do with the limited time that we all have. I agree with you that the days go by so fast!

[@williamrice4608]

I retired early too and never looked back. I don't get bored either. I planned, saved and invested for 25 years to be ready. I worked hard for my money. Now it's time for it to work hard for me.

[@farmoboy83]

just out of curiosity, how do you get money for basic needs? even being extremely frugral money is always a necessity, mqinly in cities where you cant grow your food.

[@jpny4750]

@@farmoboy83 - I was lucky enough that my employer matched my 401k contributions while I was working, so I was able to create some savings. That’s basically what I live on now until I start getting social security in few years. There is no way I could do this without savings and without some lifestyle changes. When I was working, we would often go out for drinks or meal after work, etc. I do that now at most once a month when I go out with some friends for dinner. I also arranged my health insurance to get full subsidy with Obamacare so I pay zero premiums. Shop 90% at Trader Joe’s, which is the least expensive store in my area. I have no car since public transportation is great where I live. Things like that make huge difference.

[@DanaLuvsNature]

@@farmoboy83 I can't see being able to retire frugally in the city where you cannot grow food.

[@searchersearcher8286]

Call retirement what u like, i call it Freedom from the matrix

[@OnCashFlow]

Freedom from the hedonic treadmill!

[@anthonykanavakatini1299]

If you think Freedom from the matrix is bought with money and stopping work, you don’t even know what the matrix is and you certainly are not , and will never be free from it. FIRE keeps you enslaved to the matrix before, during, and after the fact.

[@Macedonia270]

In my opinion, the ONLY reason anyone would want to still work after retirement, is if they need more money.... I retired 3 years ago at a relatively young age (54). I don't need any more money to fund a very comfortable lifestyle. I cannot imagine why I would trade my time with my grandsons, on the golf course, fishing, cruising, traveling Europe, riding my motorcycles, gardening, driving my sports cars, afternoon naps, mid-week barbeques, lazy lunches etc.etc. for having to go to work.... I am a very experienced Engineer and I have had many requests to do part time jobs or consulting gigs.... The ONLY reason I would ever consider doing that would be if I needed the money.... The test is, if you won $100 million dollars today, would you go to work tomorrow? The difference between $100 million and $10 million is perception only.....

[@OnCashFlow]

The thing is...There are plenty of people that are worth $100M and still work. I think the answer for most might be they would go to work, but most likely in a different line of work, different job, different company, starting a business, etc.

[@Macedonia270]

@@OnCashFlow I understand that people are different.... But I just cannot see it. I have ZERO stress....ZERO! My blood pressure which was high and needed BP meds since I was 30, is normal (without any meds), my golf handicap has come down to a 4 (the previous lowest in my life was 12), because I had the time to spend with a coach....I wake up at sunrise every day, take a nap almost every afternoon, my health is better than it was at 30, I lost 30 pounds of weight and I smile all the time.... I was ALWAYS worried and stressed while I was working....I still recall that when I woke up, I immediately started worrying about how the day would turn out... I ran a mining company....EVERY time the phone rang, I broke out in a sweat, expecting a fatality at one of the mines, a strike, community unrest....etc....

[@OnCashFlow]

I'm so happy that you have made all of those improvements, it is absolutely the right move for you to make! Health is more important than wealth by a long shot! I think the nature of your work is extremely stressful, and not many people have experienced a career such as that.@@Macedonia270

[@adam872]

I used to dream constantly about retiring early but really it's about the financial independence part. Having the flexibility to do what you want, when and how you want is where I think most people want to be. I was honest with myself and decided that some kind of work (even if it's unpaid volunteering) would probably always be part of my life. I get bored easily, so having things to do is a good thing. I bumped into one of our neighbours last weekend and he said that his semi-retirement means he gets to say yes to more things now. That's a great way to put it.

[@OnCashFlow]

Absolutely! It is about having the flexibility to say yes and no and not have the requirement to work for money always dictating your actions!

[@autobotdiva9268]

ran into a lady today at sandwich shop and she said she was forced to retire at 67 and was highly upset. her husband is 70 and still working. sad

[@OnCashFlow]

Yes, that is very common and can be very sad. I'm glad that you are seeking financial education to make sure that you are better prepared

[@entwine]

You don't offer any argument for early retirement being a lie. Sure, it just has pros and cons, but we knew that. I would say that the title is clickbaity.

[@OnCashFlow]

My argument is that it is a lie because its sold as what you want to do, but most of us don't really want to retire early and never earn any income ever again.

[@entwine]

@@OnCashFlow yeah, fair enough. Out of FIRE what's really important is financial independence. Most people don't want to retire but rather to be in control of their time. Still, "lie" seems too strong to me, I would say something like "you don't want to retire early".

[@OnCashFlow]

Financial independence certainly isn't a lie, that's mostly math. The traditional meaning for early retirement is sold as something so great and magical because it is usually thought of as escape from work altogether (that's what I used to think). Either way, I hope you enjoyed the video and the concepts discussed. @@entwine

[@DanaLuvsNature]

I'd say it's a great video! as usual.

[@BillyO8828]

@@OnCashFlow - Yep! I searched "Percentage of people that work part time after retirement"... and it says 68% according AARP. Not sure how accurate it is, but even if it's only 50%, it tells me that money IS IN FACT an issue for those that have already retired. Lesson: People better have their finances down to a TEE before retiring. I'd rather work an extra year, than live my final 5-10 years before death being strapped for money. I don't hate working that much.

[@HopeToProsper]

I semi-retired in February at the age of 58. The reason I "retired" is because I wanted more control of my time and I wanted to travel more than my job would allow. The reason my retirement was "semi" is because I plan to start a business or work part time to supplement my retirement income and to stay sharp and engaged.

[@OnCashFlow]

Awesome! I wish you the best of luck!

[@dforrest4503]

So far I’m enjoying my part-time gig! Not self-employed, but the work is meaningful.

[@OnCashFlow]

Nice! Very glad to hear that!

[@dandawson8128]

Good for you. 💪

[@CaptainQueue]

I retired at 71 after being badgered into it by well-meaning friends and family. The job I'd had the past 6 years was rewarding, challenging, fulfilling and nicely paid. After decades of frugality and saving, I'm having a hard time shifting to spending and withdrawals. I admit I didn't have enough going outside my job to retire to. If I had it to do over I'd stay until 73.

[@OnCashFlow]

It must have been difficult for you to make such a radical adjustment. I hope you have found something positive in life to replace that.

[@DanaLuvsNature]

Fascinating! We have way too much we want to do and only 24 hrs in a day to do it. You must've had a wonderful job to miss it so much

[@misu110382]

I went from employed to self-employed at 34 to working some months per year at 40. I find it more rewarding and my work, I'm putting more passion into it, so the quality really shows. I see myself doing this till I'm gray and old.....

[@OnCashFlow]

That's great! You hit the jackpot when it comes to work that gives you meaning, and extra income!

[@randolphh8005]

The most important thing to consider, is whether life will be better working full time or not working much. It is only partially a financial question. I really liked my work and career, I never wanted to retire substantially early. Now that I have retired at 62, I have the same opinion. “Retirement” is nice, but has it’s own challenges. We are financially independent and could have retired earlier, but have no regrets. It is more different than better. Stress is the main change. I used to thrive on stress, now I realize I don’t need it and feel better without it.

[@OnCashFlow]

Interesting take, I think that the feeling could be a lot different for you too because you said that you were financially independent before you retired early, which certainly gives you a lot more power and confidence, so that you could enjoy your career knowing that you are not financially reliant on it like most people are their whole lives.

[@randolphh8005]

@@OnCashFlow I agree with that. But, I know quite a few people that like their jobs. To be fair it is usually self-employed or professional type jobs. Retirement can be tedious and boring for some. I’m settling in and am by nature a busy person, so starting to make it work. Money is really only a minor consideration, once you have your basic needs met. These are useful and somewhat enlightening discussions, thanks!

[@OnCashFlow]

Thank you for watching and commenting!@@randolphh8005

[@williamrice4608]

I retired early and have yet to see a downside to it. What am I missing? It's been 15 years now and I have yet to be bored. I don't miss the crap jobs and jerk bosses. I also spent years planning for it too.

[@OnCashFlow]

That's awesome, I'm so glad to hear that! Some people are better at adapting to early retirement than others are. Some are lucky enough to have good jobs and good bosses, too. I too am still enjoying my early retirement 3 years later, however, I do make YT videos so am I still retired? haha

[@jonmartin3220]

Also, Main reason to retire early is to spend time with people you love

[@OnCashFlow]

That's a great reason!

[@CalmerThanYouAre1]

The only thing constant in life is change. Fortunately, the FI gives us the freedom and resources to reimagine the RE every year as life’s path winds on in ways sometimes anticipated but never known. 🌅

[@OnCashFlow]

Really well said!!!

[@jonmartin3220]

I did it too. Retired at 35. Now I work on my own business projects 3 days a just to keep mind and body active. It feels good to accomplish something and see progress, it makes for a great nights sleep.

[@OnCashFlow]

That's awesome, much better to have your own business and the flexibility that comes along with it, especially when you have strong financial security already!

[@nikiclaypool8800]

My reason for seeking financial Independence is freedom over my time, I am to type a to not do anything but something that I enjoy doing on the side is financial coaching for others. I don't charge any money and don't have all the answers but my obsession with finances has yielded quite a lot of knowledge that is helpful to others. Of course everyone needs a mentor, and I consider you my financial mentor but I have a lot to offer others in love to teach. I have coached eight people so far and especially love young college kids. I think that fire to help others that I've always had will never go away and has to get put to good use or I would feel depressed.

[@OnCashFlow]

That's an amazing outlook on life. Reaching a point to where it is not about providing just for yourself and your immediate family, but now with that well taken care of thanks to financial independence, it is much easier to focus more on helping others!

[@itskelvinn]

I’m 26 and my math (conservatively) has me retired early at 38. I want to speed it up and do it by 35. I don’t think I’ll ever get bored. I have my kids, my projects, my hobbies, so many things I want to learn It’s crazy how you did it at 27

[@OnCashFlow]

It's definitely possible for you in that timeframe given the right circumstances and drive! Just remember that I started at age 18 with very peculiar advantages (mostly came from being in the Military). I also have a like-minded spouse and no children currently. btw Have you seen my previous video about How I did it? kzbin.info/www/bejne/iobFkomnrs-apNE

[@damansarajaya88]

Good thoughts. Reached FI number when close 2023 and going exactly into the “one more year” comfort zone as every FIREtiree cautioned as I struggled to define my purpose and what excited me if I leave my current employment. Still working it out. Good luck to all on your journey.

[@OnCashFlow]

Start thinking really hard about what you want to do. It always makes more financial sense to wait "one more year" simply by the fact that you will accumulate more. However, there is a hidden cost. Time you cannot get back. Opportunity cost of what else you could be doing. I hope you make the best decision for your own life, and I wish you the best!

[@eightsprites]

I wanted out from the corporate grid. And especially the micro management. I grew up with a fascination to create, but lost it to corporate processes. I wanted back to the childhood fascination and I couldn’t get there working for someone else. Regarding knowing who you are and what you will be later. Its much easier later in life to predict who you will be, you know who you are and how you respond to things. Anyhow I gotten back to some creativity even if its going very slowly. And I love it. Fired 22 months ago, at age 45. Best thing is I dont have to decide what to do before noon, like ever. I keep my mornings super relaxed.

[@OnCashFlow]

That's awesome! I'm glad that you are discovering a life that works well with you! I enjoy a nice relaxed morning too, however, I find that I am most productive in the morning and it tapers off towards the evening, funny how we all have our differences in what time of day we work best.

[@bobtackleberry9861]

If you plan and do your homework, then early retirement can work. Keep in mind that you have no control over the stock market. Medical expenses can be costly.

[@OnCashFlow]

Absolutely. You have little control over most things in life to be honest!

[@Battleganz]

I retired to Disability at 23 and I haven't work so hard in my entire life before now. I already achieved my most important goals. Now I'm just trying to find something to do.

[@OnCashFlow]

Sorry to hear about your situation, but I am glad that you are making the best of it!

[@RanLM1]

Excellent video. Very honest. Thank you

[@OnCashFlow]

Thank you very much!

[@emmiearches2137]

Reached FI 2 yrs ago, and am retiring from corporate work as Financial Planner by year end at 51. Am excited for the next phase, building and selling properties as form of self employment but a rewarding passion. Thanks for this great content !

[@closecatapult8472]

im same, but am interested in financial planning as optional second career, is it not a good career in the corporate environment?

[@OnCashFlow]

Thank you! Glad to hear that you are starting something new that you enjoy!

[@emmiearches2137]

@@closecatapult8472 Yes it’s a great career out of many in Finance world. Very rewarding and fulfilling as well. Good luck to you !

[@dantheman6607]

I will retire at 58 that’s early 😊

[@OnCashFlow]

Congratulations!

[@mikeham5465]

another great video thanks zach

[@OnCashFlow]

Thank you so much!

[@mikeham5465]

Speaking for myself I would like to just continue to acquire wealth and at some point in the next 9-14yrs i too will be leaving the w-2 world and venture out onto some kind of self employment.. Haven't set my mine on what just yet but there are options.. I wont do this until my anticipated yearly social security benefit reaches a number i am very comfortable with

[@OnCashFlow]

Sounds like you have a great plan that works for you!

[@RandomJane104]

I want free time. Time to travel. Less stress. I have regularly worked more than 40 hours a week for 13 years. I'm glad for the job but some balance would be nice. How do people with children do it? It doesn't have to be 100% retirement. I would be ok with a less stressful part-time job for 5 to 10 years after giving up full-time work. I don't hate work. I hate the toxic WORK/life balance in the US. I'm 50 and dream of one day when my brain says "I quit" it won't be a catastrophe if it actually slips out of my mouth.

[@OnCashFlow]

I totally understand what you are saying, the work culture in the United States is probably unlike many other countries. There is good and bad that comes out of it, and the way that we can gain more control over our time and not rely on the normal system is to be on the path to FI! Every day we gain more control and more power for ourselves as we save and invest and expand our financial education.

[@ThePencilist0101]

I'm 62 and newly retired & I create art and sell it online.

[@OnCashFlow]

That's awesome! Glad you found something that you enjoy and that you can monetize!

[@TheSimArchitect]

Financial independence (of any kind) is the goal to most people (myself included) because it awards you freedom and a larger degree of self determination. I'd rather live off entirely passive income if I were able to have enough of it to give me a comfortable lifestyle (according to what I think is comfortable). Paid work is paid because money is a compensation for an annoyance and/or time wasted on things that aren't in your direct interest. Even when people monetize hobbies they sometimes ruin their enjoyment because it becomes work. That said, there's too many variables and humans are similar but also different.

[@OnCashFlow]

To each their own. I think that I can have a comfortable lifestyle on very little (relatively) and so I have so much less anxiety and fear when it comes to generating income.

[@TheSimArchitect]

@@OnCashFlow Exactly.

[@AECH_CH]

I'd even go further... I'd rather live on 3K a month by myself than I would on 6K while working for someone else. For me the idea of escaping the whole economic system - except for providing capital - is a huge factor. I'd rather be a small lord than the biggest possible slave!

[@TheSimArchitect]

The problem is when you only have 700 per month. Then it's a difficult choice to live on 700 miserably or to work for a few more years...@@AECH_CH

[@FLORIDA-LAND-NEAR-DISNEY]

There are a few important things people do not factor in.. 1. Around 70, people generally slow down a lot.. Health issues, but in general you might not want to anticipate not being as active at 70. 2. You will have a lot of free time when you quit and you might as well find hobbies where you can scrape/save some cash but also to keep you busy so you are not spending all that free time eating out, drinking , shopping or vacationing. 3. If you love the party high life, dining out, drinking and shopping, early retirement might not be for you. Retire might be complex word, maybe all you want is to escape the office rat race and high pressure deadlines. Something you can do leading up to early retirement is really safely using vacation time to test your new life and budget before you pull the trigger. Don't just image it, live for a few weeks.

[@OnCashFlow]

Great advice! Slowing down in older age is absolutely something to anticipate!

[@DionTalkFinancialFreedom]

Thanks Zack

[@OnCashFlow]

Thank you!

[@HonestOne]

35 years for a small social security check that may not even be there at old age.

[@OnCashFlow]

That's sad

[@b2bfusion]

Ive owned my own business for 12 years. It is anything but my own hours. Had 3 clients who I told i was taking a week off in advance because i was moving - all 3 contacted me during that week off. I think this advice of self employment plays into a stereotype that it is easier than a w2 job. I suppose if i didnt try it indeed it would be easier. But its a competitive market, there is the quick and dead right now, at least in markets I serve. So 👎 to this advice of starting your own business with the mindset of it being easier than w2 and a path to early retirement.

[@OnCashFlow]

I don't mean for it to come off as it being easier. Quite the contrary, owning a business is multitutes more difficult than being a w-2 employee. I simply offer it as an option to work on something that you enjoy while making a little bit of money to supplement an early retirement lifestyle. I also advocate part-time flexible w-2 work as a similar means.

[@AECH_CH]

Expectationmanagement is a crucial factor. In my experience, you adjust to your means, not the other way arround - so if you retire with 40K a year, you'll make it with 40K a year. It's not like you'd think "man if I just had 100K"... At least I myself never really thought that.

[@OnCashFlow]

You do need a realistic look on what life will be like because it's still life. Life still has challenges and difficulties no matter what.

[@AECH_CH]

@@OnCashFlow Yes of course, but how is that not what I just said?

[@OnCashFlow]

Kinda just rephrasing it, so that you know that I understood lol@@AECH_CH

[@mecanuktutorials6476]

40k is nowhere near enough to cover the COL anywhere. Maybe if you own a property and rent it out?

[@AECH_CH]

@@mecanuktutorials6476 My rule of thumb is that basically median / 2 is a very comfortable "survival" income in a 1st world nation. It's not luxurious or anything, but more than enough to not need to work if your job sucks. If you want or need more, it's usually a you problem - aka wanting more material or immaterial consumerism or absurdly irrational security. That's nothing bad, but one should be honest with oneself.

[@CraigandMandy1]

Yes it is what I want to do.

[@OnCashFlow]

That's what I used to think too! It was because I didn't like the work that I was doing and the lack of flexibility in my life.

[@Zulethe992]

Working takes on a whole different perspective when you do it but you don’t have to. The stress dissipates, worries evaporates and all the things that used to bother you don’t so much. At least for me. Once I knew I could walk away my work life became infinitely more enjoyable and my tolerance for bs dropped to zero and my respect from coworkers skyrocketed once they saw the 100% change in my attitude and my advocation on issues I never would have addressed before out of fear of losing my job. Kinda like the movie Office Space in a strange way

[@OnCashFlow]

totally agree!

[@DiFinni]

Yep, they said 65 for the SS years ago. They knew back then most people died about the age 65, so they knew most people would never get a chance to take SS. Now people are living longer than what they were years ago.

[@OnCashFlow]

Very true. Living longer is a good thing, but our laws need to keep up!

[@tarikviaer-mcclymont5762]

I like that recreational employment

[@OnCashFlow]

Me too! That's what this YT channel feels like to me ;)

[@dacianbonta2840]

good, good. it serves a serf to serve

[@OnCashFlow]

Right

[@delayedgratification581]

You’re not likely to be very bored in retirement if you have say 200K/year to spend.

[@OnCashFlow]

Maybe. You could still be bored and unfulfilled if you feel that you are not contributing to something. Not everyone will feel this way, but some personality types will.

[@d3wdman567]

Seize working?

[@OnCashFlow]

"Cease" working

[@ryanchinh1040]

That is why you work until you die and you become a slave.

[@OnCashFlow]

I don't understand

[@friedchickenthug]

How's the corproate boot taste?

[@OnCashFlow]

Not sure what you mean, I don't work for a corporation at all lol

[@HonestOne]

Just the title let's meet know he is about to lie to people. Rich people walking around not working everyday but somehow it's wrong for you

[@OnCashFlow]

Did you watch the video?

[@weesah]

I am here still listening why retirement early is a lie. All your points you come across with seems to be preprogremmed from the system and government. You have no idea whats its like living a simple life, having peace an freedom.

[@OnCashFlow]

Thanks for your input.

[@mb6055]

You are totally out of control left eyebrow is amusing.

[@OnCashFlow]

Haha it has a mind of its own!?

[@91210paige]

If your in your 30, 40 or 50's like your saying Dude and thinking about retirement you are lying to yourself. Anyone looking to retire before FRA and don't think they are going to have to pick up a side hustle is a fool.

[@OnCashFlow]

Nothing wrong with working in retirement, many people in their 60s, 70s, etc. do it too so that they have something to do, something to contribute to, and of course, for some extra fun money.

[@projimbo]

Financial independence means ..choices and freedom to choose.

[@OnCashFlow]

Yes!