Retirement Is Nothing Like I Thought It Would Be

[@TwoSidesOfFI]

If you've already retired, what were the biggest surprises you encountered? Be sure to check out the show notes for links to the content we discussed: twosidesoffi.com/fritz-retirement/

[@TheMidlifeShift]

I retired in Oct at the age of 43. I'm surprised how many people don't blink when my husband says it but say to me 'oh, you're just a stay at home mom now. Good think your husband worked hard". And few people realize I was the driver for RE and made more than him for most of our journey. I'm actually shocked at how many people have said something like this and completely dismissed me.

[@TwoSidesOfFI]

@@TheMidlifeShift Thanks for the note and a belated congratulations to you on your recent retirement! It's too bad that so many people are stuck in very dated views of how the world works, isn't it? RE at 43 is no small feat so clearly you were incredibly successful in your pursuits and that's to be commended! Best wishes to you in all that is to come for you.

[@qilu6313]

@@TheMidlifeShift wow I hate it when people have this gender bias. FWIW I’d love to be stay at home dad to balance that bias. I love taking care of things at home and don’t mind quitting

[@garyxyz4400]

@@TheMidlifeShift congratulations on your RE that allowed you to stop working but technically I don't count you as retired. You are a couple and your husband still works. I would think the same whether you were the husband and had a working wife.

[@Jonathan-Pilkington]

@@garyxyz4400 She is retired.

[@fritzgilbert7223]

Thanks for having me on your show, Eric and Jason. You're crushing it, and I'm honored to have appeared on your show. Great conversation about stuff that matters. Keep up the good work!

[@TwoSidesOfFI]

It was our pleasure, Fritz! Thanks so much for the kind words. Our enthusiasm was genuine and a reflection of how much we’ve gained from following your content. Please keep up the great work!

[@Benham_Design]

Nice shop Fritz, are you planning on doing any project build videos on your channel?

[@theretirementmanifesto3379]

@@Benham_Design - thanks, loving my shop! I did a doghouse build video on the Freedom For Fido KZbin channel, would like to add more videos on my channel but never seem to have the time.

[@SteelHorse1015]

Thanks Fritz, Eric and Jason for your gent's insight and time. New subscriber to TSOF and will definitely be checking out your blog Fritz. This vlog was exactly was I have been looking for as I am about 12 to 18 months out from retiring, now 50. Our purpose or our why, is to travel primarily Europe, perhaps the middle east on motorcycle volunteering our time with charities and randomly helping people with their personal projects. I.E. Building a fence or painting a house in hopes of making their lives a little easier and hopefully along the way to learn about their culture. Don't know if it is going to work but willing to give it a shot. Thanks again gentlemen and all the best in 2022 and beyond.

[@TwoSidesOfFI]

@@SteelHorse1015 Thanks for checking us out and for subscribing! We appreciate the support. Your plan sounds exciting and fulfilling to us. Best wishes to you on your journey.

[@joshuarowles7444]

As someone who is 27 (one of the young ones you mentioned haha), the wealth of knowledge I get from these chats is irreplaceable. I've read a lot and studied a lot, but when I hear you both go through it, it really helps me evaluate where I'm at and how I should prioritise. I'm currently saving around 45%, but I do not feel as if I'm losing anything from life. This show helped me find that balance. Fritz also spoke very well here, I will read his book and see if there are things I can take away from it. Cheers to the work you guys do.

[@TwoSidesOfFI]

Thanks so much for sharing that, Joshua. It's gratifying to know that these conversations are helpful for you. Congratulations on achieving such a high savings rate without detriment to your lifestyle! That's really impressive. We really enjoyed Fritz' book and hope you well too. Best wishes to you on your journey!

[@garrygrant2394]

This reminds me of myself at your age. Saved and invested about half my income for a decade and didn't miss out on any fun despite living in a super expensive city. I try to teach people to split up their bank accounts into a funding account and current account and setup auto pay but mostly falls on deaf ears. Semi retired in my late 30s but learning that maintaining some structure in your life is so important. Having some working obligations for a few hours a week really helps.

[@TwoSidesOfFI]

@@garrygrant2394 That's great advice - thanks for sharing!

[@jeffb.2469]

I enjoyed this video very much, but I'm not even sure what FI means. Maybe Financial Independence? I have heard about this FIRE movement, which I believe is the dream of an early retirement. At 60, I'm looking forward to hanging it up and starting my retirement. I have lived a pretty typical life, having never making a lot of money, but raised two successful kids, had a mortgage, car payments and credit card bills. I have lots of excuses of why I could never save what I should have for retirement. I was too busy working to pay the bills, and retirement was always a distant dream. So, even though much older than the intended viewer, this video gave me valuable information and inspiration to plan, and dream, of life with purpose when my working days are over. The one thing I didn't hear mention was health. You can have more than enough money in the bank that you could never spend, a dream, a plan and a purpose. But if you don't have your health, it all means nothing.

[@33Jenesis]

Pandemic solidified my resolve to retire in March 2023. If I work to 2033, I would receive 50% more pension than I would receive retiring in 2023. However, this 10 yr time is very precious. If I am not too lazy i can enjoy a lot of crafting and traveling. I have seen too many my older relatives declined sharply after 70 despite how they had planned to live actively until the day they die. Instead they slogged thru life for a good 10, 15, 20 years, becoming increasingly immobile until the end. Old age is like being a 5 yr old, alive but not living. A simple lowering down to toilet and wiping the butt are major undertaking. Forget about global roaming, driving, household maintenance and cleaning. Some couldn’t even cook anymore due to trembling and weak hands. I hope my body and mind would last way pass 70 yr of age but it in part is out of my control (my elders were mostly fit and active in their adult years).

[@donnaallgaier-lamberti3933]

I agree totally. My retirement had been nothing but more work...get our former home and property ready to sell, plan and price a lifetime of belongings for a huge Living Estate Sale, have the sale, find places to donate the rest, find a new condo and buy it, move us, and resettle in our new community. Now I take spend my days taking care of my husband with cognitive decline, drive him to his parttime job, his doctor's appt. pick up his prescriptions and so on. I am focusing on our health almost full time, sourcing our food for our special diets, cook two different meals per day, take my supplement, do my exercises and so on. It's nothing but hard work....This NOTHING like I imagine my retirement would be.

[@robert3238]

Excellent point Fritz on Patience. I'm about 4-5 year out from retirement, my wife told me that I still have to work. When I start thinking about retirement it's like a magnet pulling my thoughts out of my work thoughts.

[@dfiniin6820]

agreed, i'm like 6 years out, goal is for 59.5. Wish I could at 55 though, but it is what it is.

[@tz55lj]

Thank you for posting your content. I truly enjoyed and appreciated this episode.

[@dougb8207]

This was a wonderful show; I will subscribe to the channel. Fritz is such a smooth speaker, able to catch unexpected questions on the fly and think through them to give a measured response; amazing. I can see why he was asked to sit on a board of directors. I used one of the techniques he mentioned; after 42 years at the same job, just picked a day soon after turning 62 and that was it for me. It's been 3 months now. Perhaps fortuitously, we purchased a house to move at the same time, and it turned out to be a fixer-upper, which has given me unlimited opportunity for things to do. An aspect our our house related to the show, is they had moved the 1-car garage to a back corner of the property when adding an addition. The garage was insulated, with windows in the front where the overhead door used to be, with nice painted concrete inside, a small mini-overhead door on the side, a drop-door attic space, and a breaker panel. I wired the whole garage with lights & outlets including the attic, had a furnace and AC installed, and painted the inside ... made a wonderful ceramics studio for my wife. It looks like a little cottage, and the Christmas lights around it last month were beautiful.

[@TwoSidesOfFI]

Thank you, Doug! We really appreciate the feedback and your support. Congratulations on your recent retirement! It sounds like you have figured out some rewarding uses for your time and that's wonderful. Best wishes to you on your journey.

[@angelaschmidt3661]

Staying one more year may be about friendships, worth, and fear of change. If all of your friends are at work, it can be really hard to leave. There are so many things to think about when retiring.

[@TwoSidesOfFI]

Very true, Angela!

[@davidatkinson5396]

Great episode guys. I definitely understand the “short-timer” angst, being 1 1/2 to 2 1/2 years away from retiring from a job I’ve had for almost 24 years. It’s a great company and I have been treated well, having advanced to second in command. But the closer I get to FIRE the harder it is to be patient and stay in the moment enjoying life. Instead I spend my days off generating stacks of spreadsheets analyzing various retirement scenarios (which, sadly, is fun for me). 😊

[@theretirementmanifesto3379]

Been there, done that! Thanks for watching, good luck keeping that patience front and center as you approach The Starting Line!

[@TwoSidesOfFI]

Jason here - Thanks, David! I understand fully what you're talking about and like Fritz wrote, been there, done that! I really enjoyed running all the scenarios in the year or two prior to RE (and I agree that it's fun!). Best wishes to you in all that is to come for you!

[@Diomedes01]

I was about to say the exact same thing! I am about 2 1/2 to 3 years away from retirement, having worked in the tech industry for 25 years. Same as you, I am actually working with a great team, the pay is outstanding and the management has been awesome. But like you, I find myself often re-calculating my retirement numbers over and over again and feel the same angst that you are describing. The best analogy I can think of is a marathon runner at the 22 or 23 mile mark and realizing they are only a few miles from their goal. They know they are so close, but still not at the finish line. 🙂

[@davidatkinson5396]

@@Diomedes01 Thanks for the feedback! Ironically I have run a number of marathons over the past decade and can relate to your analogy. Focusing too intently on the finish line can make for a miserable race experience. The mantra for success is to “focus on the mile you are in”. Seems to be the case for the marathon race to FI as well!

[@careym8437]

Such a fantastic episode. I own and read Fritz‘s book and I follow his blog. You guys are producing wonderful content and it is so helpful, these important discussions about all sides of FI. Thank you!

[@TwoSidesOfFI]

Thank you, Carey! We truly appreciate your support and the feedback. Best wishes to you

[@fritzgilbert7223]

Thanks for being a reader of The Retirement Manifesto, and for buying my book. I agree, Eric and Jason produce first-class content, every time. Great channel!

[@papasquat355]

As someone who is now in my last year of my 34 year career, your channel is invaluable in getting prepared. I enjoy it very much.

[@TwoSidesOfFI]

Thanks very much! We appreciate your support.

[@SC_Can]

Greetings from Toronto Canada guys. As a 48 year old, ready to pull the plug within the next year, your channel and videos like this are relatable and helpful. Keep up the great work, and if you're ever up here hit me up for a beer!

[@TwoSidesOfFI]

Thanks, Scott! We appreciate the feedback. The finish line is in sight for you - congratulations on all you've done to get there! Please keep us posted on your journey. Best wishes to you

[@tamaikamenefee6717]

Thanks guys for a great show! I just read that article by Fritz (loved it!) as I'm 2 years out from my FI date so I'm starting to figure out the "softer" aspects of retirement. I love you guys and loved the addition of a guest speaker..loved all the information that you guys shared!

[@TwoSidesOfFI]

Thank you, Tamaika! We truly appreciate your support and feedback. Two years out you are in the home stretch! Best wishes to you on your journey

[@Kim60610]

Amazing conversation! Thanks so much for another great episode. I'm working towards reaching FI in my 50s, and being patient is so hard.

[@TwoSidesOfFI]

Thank you, Kim! We really appreciate the feedback. You are so right about patience being tricky at times. You will get there! Best wishes to you.

[@pedrowhite911]

Nailed it! Fantastic episode that I really needed right now. I recently transitioned from the 90/10 phase to the 10/90 phase. Although, I thought I was going to be prepared for the soft stuff, I found the amount of unstructured free time in retirement to be a bit overwhelming. Went back to work part-time while I re-tool and shore-up the soft stuff planning. Looking forward to more content on assuaging my anxiety over longevity risk and dealing with the soft stuff.

[@TwoSidesOfFI]

Thanks, Pedro! And congratulations to you on achieving your goals. Sounds like you found a good compromise in the present and that's great. The soft stuff is a big focus for us here so hopefully you find value in some of our earlier (and soon to come!) content as well. Here's an episode focusing on Jason's reflections after his first year post-RE kzbin.info/www/bejne/qGSuioWFmchmiMk

[@wineguy68]

Great interview. I will certainly pick up Fritz's book. I just retired at end of Dec (M53), my wife retired at 56 last May. I was sort of like Fritz, long time in one industry, strong saver but not crazy numbers probably in the 30-35% range, more of a late/slow FIRE. I have pivoted to the whats next which isn't fully figured out. But what I've been taking away is to not put too much pressure on myself to have everything figured out right away. So far Im really not missing work at all, but it's very early. For me I was ready to go which made the decision to FIRE easier. I RE about 2 years earlier than I had originally thought (was loosly planning on 55). Part was work issues/lack of job satisfaction, but the bigger part was we were waaay past my safe number which made continuing all that much harder. I did decide to start to keep a retirement journal, what Im doing now and to track how my days change and activities over time. I think it will be interesting to reflect on that over time.

[@fritzgilbert7223]

A Retirement Journal? Great idea. Sounds like you're only a step away from starting a blog! And, you're spot on about "not having everything figured out." To me, that's part of the fun of retirement, knowing you can take your time, experiment, ponder and enjoy the process. Thanks for watching, hope you find my book of value.

[@TwoSidesOfFI]

Thank you, Wade! We appreciate your support. Congratulations on your recent retirement! We love your idea of a retirement journal. He didn't call it that, but Jason did very much the same with his own blog. Capturing what you're feeling is so valuable, and reflecting on your experiences is incredibly productive. Best wishes to you.

[@kennethwers]

Besides money, I got stress and higher blood pressure from work. Retirement is great. Think of it as a complete different segment of life.

[@TwoSidesOfFI]

Jason here - Very true, Ken! Your last comment lines up with my personal blog, which is titled "The Next Phase is Now". Best wishes to you.

[@sharonhansen2935]

Thanks for introducing me to Fritz! I signed up for his blog. This video was so on point for where I am right now. I'm in the "one more year" year and planning to retire on December 31, 2022. I was going to retire last year and for various reasons decided to stay on at my job for another year, which as was mentioned in the video will give me a cushion that will make that extra year worthwhile. I realize I haven't been thinking much about post-RE, having focused so much on the FI part. Some great advice and suggestions here, thank you!

[@TwoSidesOfFI]

Thanks, Sharon! It's such a great blog and we know you're going to get a lot out of it. So glad to learn that this episode rang true for your situation. We talk a lot about post-RE on this show so hopefully you'll find value in some of our earlier content as well! One episode we'd recommend: kzbin.info/www/bejne/qGSuioWFmchmiMk

[@diannad8905]

You guys nailed it! Thank you for all of your great content, insights and sharing your journeys. Your efforts are greatly appreciated!

[@TwoSidesOfFI]

Thank you, Dianna! We really appreciate the support.

[@AKim-uu4hg]

Great conversation! Eric was so excited earlier in the discussion that he kept cutting poor Jason off! LOL! I enjoyed every part of this video and I find ALL of your content so interesting and relevant. Thank you both! I need to go on The Retirement Manifesto and take in all the information Fritz shares - and will buy his book!

[@TwoSidesOfFI]

Jason here- thank you! We are glad you enjoyed it. No worries, it was a really good exchange with Eric and Fritz and it made perfect sense to let them talk it through. We really appreciate your support!

[@AKim-uu4hg]

​@@TwoSidesOfFI - I love the conversations between you and Eric! The fact that you're both coming from "Two Sides of FI" (totally appropriate name for your channel!) makes it even more interesting. Your personalities add to the fun! Eric seems to be more of the think-aloud type of person and you seem to be the deeper thinker/ planner. When you talk, it feels like you've already given thought to what you're about to say. I am more like Eric - I say what I'm thinking and I tend to get a bit excited when I am verbalizing my thoughts. I tend to relate more to Eric and he asks many of the questions I would want to ask. But, with your calm responses to Eric's excitable questions or comments, you two really compliment each other! This channel should be growing faster than it is but I see great things for both of you! Thank you for sharing your insight and knowledge on this important topic. My husband (58 years old) retired at the end of 2021 and I (56 years old) am planning on retiring at the end of 2022. We hit FI a few years ago but I wish we knew then what I know now because I would have invested more with a brokerage firm as opposed to all thru our work 401k and more recently Roth (which wasn't available to us until a couple years ago.).

[@TwoSidesOfFI]

@@AKim-uu4hg Jason here - Thanks again! For all our differences, we definitely have a lot in common. Though it's fun for us to see how we come across on camera + after editing. Eric is also much more practiced at interviewing and it definitely shows. I like to think I'm (slowly) improving over time :) Congrats on achieving FI! Be sure to keep us posted on how things go. Best wishes to you and your husband.

[@jonathancope2712]

Thank you. A wonderful episode. Such a mature and well-prepared conversation all around. Nicely done. The nature of Fritz’s content satisfies the ‘checklist manifesto’ lover in me. Greatly appreciate your collective quality content. Happy New Year to you all.

[@TwoSidesOfFI]

Thanks, Jonathan! We really appreciate the feedback and your support. Happy New Year!

[@stephanievalencia2939]

Another great episode! I just started getting really into FI in the last year at almost 40. I am thinking I have 5-10 years left depending on how things go and what we decide we want retirement to look like. I am definitely feeling the comments about obsessing about retirement when it is still a while out. I’m guilty of that lately.

[@TwoSidesOfFI]

Thank you, Stephanie! It's critical to keep those thoughts productive. i.e. working on a plan to get there is great but obsessing is counter-productive. The balance can be tricky to find but when you do it's really helpful. Best wishes to you

[@billsgirl1000]

Really enjoyed that! I have been reading the Retirement Manifesto for several months and great to put a face to the name. Agree that there needs to be more content about the other side of FIRE.

[@TwoSidesOfFI]

Thank you! We appreciate your support.

[@mrmicromanager]

Great guest! For a writer he communicated verbally incredibly well. Thanks for letting him elaborate.

[@TwoSidesOfFI]

Thank you- we agree! We were honored to have Fritz join us. So glad you enjoyed it.

[@knut8062]

Biggest surprises for me: personal identity and job are not as entangled as I thought.

[@TwoSidesOfFI]

Interesting...thanks for sharing...

[@ElectricUnicycles]

As someone who retired 2+ years ago at 59 I probably don't qualify as a participant of the FI movement (too old), but I really enjoy the banter on your channel. I must fall into the ultra conservative camp since I maintain a 5-year cash bucket, but it helps me to sleep at night 😄

[@Maeda_Toshiie]

IMO, even for those who don't plan to or can't do FIRE, learning how to plan and optimize your finances is a net positive thing. Having financial resources available gives a sense of security and greater options in life.

[@lindahagler6278]

Never to late to be FI. I hate seeing my 90 yr. dad in debt!

[@ponygirl5716]

I am preparing to retire within six months. I can’t even imagine why people can’t come up with things they want to do in retirement. It just makes me think they had no life and that’s pretty sad. I have such a list of things that I want to do and things that I am passionate about that I never had time before. I will never get bored. And even if I’m wrong and I do get bored, that’s fine with me. It’s so much better than the stress I go through every day at my job. I’ll take boredom over crazy any day.

[@TwoSidesOfFI]

Jason here - 100% with you on this! I feel like I've never been busier. That's the "problem" when you're the boss of your time. You have to be the one to prioritize all those things you want to do :) The finish line is in sight! Congratulations on your imminent retirement. Be sure to keep us posted on how you're doing.

[@rla510]

Great episode, appreciated the layers of pre and post FIRE insights.

[@TwoSidesOfFI]

Thank you!

[@matthewwood2057]

Great content 👍👍. Speaks volumes. Love the interview discussion. Thanks.

[@TwoSidesOfFI]

Thank you, Matthew!

[@johnbruenn8755]

The whole “one more year” thing is highly subjective to whether you love or hate your job. If your job stress is harming you mentally, physically, spiritually, the choice becomes as clear as can be - don’t spend a SINGLE day in that job that you don’t absolutely have to. For me, I jumped off the Crazy Train at age 62. It was a very easy decision. After being retired a month, I was able to sleep without drugs. No more night time outbursts. I thought I was losing my mind. It’s clear now it was all job stress related! Obviously looking back now, if I could go back and gone down a different career path, I definitely would. Bottom line kids, your happiness in life is worth far more than any paycheck. Choose wisely with your time.

[@joesph9748]

Hey guys thank you. Your thoughts and experiences are very helpful to me given where I am at in thinking through retirement.

[@TwoSidesOfFI]

You're welcome, Fred. Thanks for your support + best wishes to you on your journey.

[@michaelascotellaro9602]

Thanks a lot for this inspiring conversation!!!

[@TwoSidesOfFI]

Our pleasure, Michaela! Thanks for your support.

[@AnhNguyen-bi6vg]

Great episode Eric and Jason! Some good info on how to invest during market downturn and how to think about the different buckets. Thank you!

[@TwoSidesOfFI]

Thank you, Anh!

[@paulbrown5937]

My biggest concern is health insurance post retirement, although I'm sure I should have that planned out

[@christinewallace9251]

Great interview. Thank you Fritz for your balanced insight.

[@JustABill02]

54-55 can be huge. Rule of 55 401k withdrawal rules. Possible pension, possible group medical benefits.Talk to hr/benifits dept before retiring at 54...

[@SuperFS11]

Great stuff guys! Shared with a friend, as retirement (guess we are too old to be FIRE?) is a major conversation topic.

[@TwoSidesOfFI]

Thank you very much! We think one of the benefits of this episode is that it applies equally to all flavors of retirement, early or traditional. Thanks so much for sharing this with your friend. We appreciate the support.

[@hardcor1313]

Love the conversation to add more content to my own late FI (54) retirement journey.

[@TwoSidesOfFI]

Thanks! So glad you liked it

[@straitjacketstudios]

Great video! I am also ~2 years out from a potential FI and am also in mathematical Ninja mode crunching numbers and spreadsheets. Great relative video to where I am at in my journey.

[@TwoSidesOfFI]

Thanks! With two years to go, the finish line is in sight. Best wishes to you!

[@DMC8282]

You guys are great. Jason I totally agree with consulting i do the 1 hour consulting gig with GLG. Great advice on dry powder. I am trying to get wicked in at 190 VTI

[@TwoSidesOfFI]

Thanks!

[@vivekh7662]

Funny, the things that Fritz mentions as analogies for retiring are rated as some of the most stressful points in a person's life. So by that analysis, retirement is also a stressful point because it is a large change in lifestyle much like having a child, changing jobs or getting married.

[@theretirementmanifesto3379]

You're spot on, Victor. Retirement always makes those lists of the "most stressful" things in life. Fortunately, you can plan for it and eliminate a lot of that stress.

[@vivekh7662]

@@theretirementmanifesto3379 Planning is the important part, just like any other project. The plan may not be what you actually execute but it sets the baseline for expectations.

[@johnbirman5840]

Shakespeare once said: “We grow, and grow, and grow. Then we rot, and rot, and rot” To avoid the “rotting”, keep “growing”. What does this mean? Establish goals, create a schedule, help others, spend more time with God, devote more time to Love. Growing as person (in good things) is then exciting, fulfilling, healthy. Growing not rotting.

[@Pieter2360]

Great episode! I will RE on 1 Feb, so counting down the days 😎

[@fritzgilbert7223]

Get a countdown app going on your phone if you haven't already. Mine started with ~1,000 days to go to FI, and I enjoyed the process of watching it count down. Didn't help on the patience side of things, though. ;)

[@Pieter2360]

@@fritzgilbert7223 I salute you Sir for your wonderful work creating the Retirement Manifesto. I indeed downloaded a countdown app (now showing me 1.3 million seconds to go). I’m really curious how I will look at things once I’m “on the other side” and how quickly I’ll move from 90/10 to 10/90.

[@fritzgilbert7223]

@@Pieter2360 - Now 1,298,999 and counting....

[@TwoSidesOfFI]

Jason here - love this advice, @Fritz! I did very much the same though I think I waited until a year before to set mine up. I hadn't locked in the date (I knew the year) until then. But I agree, patience was not increased by this endeavor :)

[@TwoSidesOfFI]

Thanks, Pieter! You are almost there! Best wishes to you on your journey.

[@moneyisgod4482]

When people tell me that they're bored during retirement I have no idea how that's even possible. Let's take me for example, during the basketball off-season I typically host different basketball camps and they paid me about $100 per camp. I usually do about four of them during the week. If I was retired, I could travel the world doing this in the great thing as I wouldn't even need to ask the camp for an income. Also, I haven't even gotten to the part about traveling and starting side businesses that I'm passionate about. Here's the thing, boring people are boring people. No matter what position they're in in life, they are going to be bored.

[@Sanjuro806]

Bought the book. what a great interview

[@TwoSidesOfFI]

It’s a great read! Thanks very much

[@gabygrand]

I say for those with OMY syndrome, quit your job and comeback later for a bit if you miss it so much. You might find you like taking mini retirements

[@TwoSidesOfFI]

Exactly! Tim Ferris is a big advocate of mini-retirements too

[@ericb2872]

Great video guys!

[@TwoSidesOfFI]

Thank you, Eric!

[@doggydude4123]

That's so cool you guys listed your FI date and current age.

[@bradgraham9207]

great episode! thanks you

[@TwoSidesOfFI]

Thanks, Brad!

[@tonybalz2726]

We went through this when I retired a year ago. I thought we would travel for 10-14 days each month. My wife is watching our grandson. So no meeting of the minds about what retirement would be. We are still trying to figure out what our retirement will look like.

[@TwoSidesOfFI]

Thanks for sharing and best wishes to you

[@rpguitar]

Kudos guys, great conversation and really appreciated! And incredibly relatable... I worked 32 years and retired at 54 - one year difference from Fritz. And like him, I lived a comfy but not ostentatious lifestyle, did most of the right things financially (definitely not all!), and did not think about FIRE or seriously retiring until I was five years out. And then suddenly, I worked the numbers very carefully and five years became five months! I feel incredibly lucky to have NOT been tortured half my working life obsessing over and craving my great escape. I seriously think that is the biggest challenge for most FI seekers, and it's such a complex thing to go through.

[@TwoSidesOfFI]

Thank you! You make a number of great points. Anything you'd add about your experience in retirement in terms of surprises you have encountered? Best wishes to you!

[@rpguitar]

@@TwoSidesOfFI I discovered the same thing that Fritz mentions about fishing. Leisure activities I obsessed over during my work days, and carved out precious time to hastily pursue on weekends and occasional evenings, still occupy me, but are no longer obsessions. Days will go by and I'm not brewing beer, not recording music, not writing or pursuing volunteer opportunities, etc. I still pursue all of my hobbies but I'm finding them to be more optional in a given day than I thought would happen. But on the other hand, I'm enjoying the lack of pressure to cram leisure time into a packed week. It just happens when it happens. The mind is quieter, which is a good thing mostly; I'm just not sure if it's negative in the long run!

[@TwoSidesOfFI]

@@rpguitar Thanks for sharing! We really appreciate it.

[@NaeOnYT]

I think there's a huge difference between "one more year" because you're frightened, and "one more year" because you're content. If you're truly content in your job, don't feel like you HAVE to stick to the retire early part of the equation. You can make your date flexible.

[@TwoSidesOfFI]

Nae, that's very true. thanks for sharing!

[@johnyjsl9219]

I LOVE YA FRITZ !!

[@ReesesPieces81]

@45:10 Worse case scenario is not a bad bear market my friends, it's a divorce.

[@TwoSidesOfFI]

Very true that not much compares to divorce in terms of potential impact on assets.

[@wdeemarwdeemar8739]

52 years old and I will be able to fire at 55 but gonna wait until 60 for a very fat pension with healthcare. I just can’t walk away.

[@TwoSidesOfFI]

Sounds like a smart financial decision- particularly if you enjoy the work you do.

[@joell439]

Great content - thank you 👍😎👍

[@TwoSidesOfFI]

Thanks, Joel!

[@nickdoyle-achievefinancial2464]

Great video! I'm at a similar point. I like my job, it is very rewarding, I put a lot of energy into it, and I am trying to understand how this transition will work. I bought the book with your link.

[@fritzgilbert7223]

Thanks for buying my book, Nick, and for your kind words on the video. Best of luck on your journey!

[@TwoSidesOfFI]

Thank you, Nick! We appreciate your support. Thinking through the transition is so important - perhaps even more so when you have rewarding work that you truly enjoy. Best wishes to you on your journey.

[@jw8578]

Amen to your wife.. I'm doing the same and need to break out.

[@christinab9133]

Excellent!

[@TwoSidesOfFI]

Thanks!

[@luiscaminero9145]

44:24 bookmark for future reference

[@johnlittle8267]

Can someone get Fritz a better camera? (lol just kidding) Wow, great video to all three of you and I am definitely going to check out some of Fritz's info, I am focusing on the soft info right now and these videos are both informative and entertaining!

[@theretirementmanifesto3379]

I know, right?! I've always used my laptop camera, going to have to consider upgrading if I want to keep up with these guys!

[@johanneshaselgrubler8555]

Thanks for all the good content. What i am wondering. For how long does someone need to be above the FI-number to retire? 1 day? 1 week? 1 month? 1 jear?

[@TwoSidesOfFI]

Thanks! We suppose it’s an individual question. Not everyone elects to retire just because they achieved FI. Many continue working, whether in the same job or in something new. In any case, if you’ve been preparing your asset allocation for RE, you should be sufficiently protected against risk such that you could retire if desired as soon as you achieve your number.

[@manishrana6]

Eye opener .. brilliant.

[@TwoSidesOfFI]

Thank you!

[@grega4450]

awesome video

[@TwoSidesOfFI]

Thank you!

[@mattbillenstein]

Nice interview

[@TwoSidesOfFI]

Thanks!

[@ra9r]

I'd be curious to know what your thoughts are on continuing to contribute to IRAs after early retirement if there is additional investment income.

[@TwoSidesOfFI]

Great question, Rodney. To our knowledge, in the US, investment income (say, from a taxable account) isn't eligible for contribution / redirection to an IRA. Per the IRS you "must have taxable compensation, such as wages, salaries, commissions, tips, bonuses, or net income from self-employment". Many people with side hustles in retirement certainly continue to Roth IRAs, for example. Naturally there is also the route of doing Roth conversions. Here's something to get you started, after which consultation with a tax attorney or CPA might be useful. www.irs.gov/taxtopics/tc451

[@ra9r]

@@TwoSidesOfFI I've been FIRE'd for over 10 years now. I've continued to do the Roth conversion each year as well as contribute to an HSA. I do this because my investments yield sufficient excess cash that I figure .. why not. That said, there is already a lot in these accounts that I won't be able to touch for another 20 years, so I'm starting to think about stopping the practice moving forward.

[@michaelmckay8719]

The trick is to not tie your identity to your career. Otherwise when it ends, you’ll feel lost.

[@TwoSidesOfFI]

We agree. But for many. ;that is easier said than done. After all, most of our waking hours are spent at work. It can be a struggle for some people.

[@Aussieartforkids]

What happened to Jason’s face when Fritz was talking about the sure time come next bear market?

[@TwoSidesOfFI]

Glitches in the Matrix.

[@henryjustin1049]

Retirement is nothing but stress, family obligations, Doctor appointments and disappointments. I worked for 47 years…looking forward to waking up and saying…what do I feel like doing today. Well, I’m retired over 6 years and that never happens. Been fishing once, lucky to golf twice a year, gave up on several other hobbies. In short, retirement is a friggin farce! Golden years don’t exist. In my opinion… my best years are over! Don’t wish your life away… retirement sucks!

[@acajudi100]

My fellow Americans: If you are retired or can work online, please move to a state or country, that you can afford. Everything is too dangerous and expensive, so use your brain and move.

[@lisaomay]

Why would you stay in bonds right now?

[@jeffgauthier5556]

Just now finding your blog and Wow! You guys nailed this one on so many levels. Great content. I bought Fritz’s book before this episode was over. I’m about two years out from retiring. Goal is 55. I have my draw down strategy firmly cemented with my FA. Healthcare is a biggie. My wife ( and me by proxy) is fortunate to work for a large company that will pay a big chunk of medical for the rest of our lives…check. So many great things all three of you hit on. Brilliant!!!!

[@davegibb3175]

Eric, just retire and let your wife work until she is ready.

[@TwoSidesOfFI]

That's certainly an option we've discussed! I'm pining for travel and a warmer climate and she can't work remotely. Negotiations are ongoing...