What Will I Do When I Retire?
This is the first time we’ve participated in one of SavingNinja‘s Thought Experiment posts so we’ll add a little explanation.
This is an idea to get bloggers to immediately respond to a question and all post their answers on their blogs. You have to write the first thing you think of and can’t pre-plan or do any major editing.
We’re joining in at Thought Experiment 5 because we only recently started our blog! If you want to see previous versions see SavingNinja’s archives.
So on to the question!
Life is good. Finally, you did it! You pulled the plug on your day job after reaching financial independence. You never have to work for money ever again. But, you’re bored. You need something to do… You need a project! Grab a piece of paper and a pen and start thinking. Now that you’re financially free, what projects do you want to complete? However ambitious, however small, you now have the time to pursue anything that you like, what will you accomplish?
Thought Experiment 5 – What Will I Do When I Retire?!
This response is by Mr Way. When it comes to FI, we very recently wrote a post detailing plans we have made together, based on our expected FI date. To keep this interesting and not just regurgitate that post, I’ll answer this under the assumption it means I’ve hit FI RIGHT NOW! Today! I’ve come into a small lottery win or an inheritance or windfall of some variety that means I’ve hit my FI number and can do what I want!
Hope that makes sense….
So here goes!
Mr Way
Finally!! I’ve been dreaming of this day….
If you’ve read our post A FIRE Trial Run you’ll know we’re already off to East Africa this summer. In my mind, the answer to this question would have to be split into 2 parts based on that trip. Let’s call the lead up to the trip Phase 1!
Phase 1
It might sound surprising to some (and maybe slightly against the premise of the question) but my initial reaction is that I would probably go back to work if I was that bored in Phase 1! I would ask to do a 3 day week until our summer trip, as a nice transition into semi-retirement! Maybe even work from home.
That would be the first step and would still be a huge improvement on working full time, freeing up enough time to do the things I really care about. Going straight into full on retirement would be a huge change and probably too much all at once! Maybe that’s why the question describes me as being bored haha.
I’d like to think this would go well and eventually turn into a full quitting of the job, but who knows! I quite enjoy my work right now after all!
If I was bored in my new found freedom this would definitely be the most sensible step to return some structure to my time.
So on to the projects I would pursue in Phase 1:
My new found freedom would allow me the time to work on my Swahili – something I’ve been trying to learn in any scraps of spare time I’ve had recently! It’s not going brilliantly so far so the extra time would be great! Tafadhali, niletee chakula!
It’s also quickly approaching summer, which means sports season for me. I would step up my training game to make sure my team get promoted this year – long overdue!! Seeing as I’m now financially independent I would even be able to afford some individual lessons – bonus!
Priorities
Other things the immediate extra time would be spent on:
- Seeing more of my family – in particular my baby niece. We don’t get to do this enough at the minute so that would be a huge bonus! Especially on my newly free week days when traffic is better!
- Spend time with friends – another area we neglect too much.
- Reading – I love my reading so would step this up massively. Currently reading ‘Out of Africa’ by Karen Blixon. After this, I have books by Ben Fogle and Matt Haig lined up, followed by a long list which I keep adding to!
- Strength training – I’m massively into my bodyweight training/calisthenics. I only manage to do it twice a week right now so would immediately step that up to 3 or 4!
- Handstand – I’ve been working on unlocking this skill for a few years now, but without actually being consistent with it, it still eludes me! That would be pretty awesome – how many retired people can handstand?!
- Food – I really love food – I would probably use my mega bucks to go out to some interesting restaurants and try different cuisine from around the world.
- Finish the damn DIY projects I’ve been putting off for so long!!
I just cross-checked and this list fits pretty well with our list of goals set out in Our Version of FIRE so it’s good to know we’re consistent!
Phase 2
Once our epic Africa adventure was over, I would re-consider the work situation and probably end up retiring again – fully this time!
It’s our long term goal to slow travel, fully exploring some hand-picked locations throughout the world. When we booked the Africa trip, a similar thing in South America was a close runner up, so we would probably just do that straight away! That certainly isn’t compatible with work as my employer would go mad if I asked for another month+ off!
Once we had our travel bug satisfied (for now….), we would be looking to start a family. This is something we’re keen to do in the near future so that would seem like a good time to try!
This is getting scary quite quick!
My new found freedom would mean I could be a full time parent which would be a huge bonus! This would also free up Miss Way to carry on with some of her work because she loves it so much and benefits from the structure!
It’s really sad how many parents miss their kids growing up to ‘further their career’, all in the name of providing for said kid! If only they realised, all the child really wants is their time!
Priorities
Other projects to work on with the new found freedom would include those from Phase 1, plus longer term ones:
- More slow travel! So much to see and do!
- Spend more quality time with Miss Way. At the minute we’re usually doing something – after work we have so many chores to fit in that we don’t often actually just spend quality time together!
- Play loads of sport and get really good!
- Bodyweight fitness goals
- One arm handstand
- One arm pull-up
- Planche
- Front lever
- Regularly read new books in whatever area takes my fancy
- Learn new languages based on our travel plans
- Watch a lot of big sporting events, maybe plan some of the travel around this
- As above for music!
- Play more music, too
- Volunteering
- I’ve always wanted to build my own house so maybe that could be factored in there somewhere?!
That pretty much covers it for planning my newly found freedom! There’s not much more I would want right now, but I’m sure that would change over time!
The great thing with financial independence is it gives you options, so whatever my desires changed to, it’s pretty likely to now be achievable! I’ve got a whole life to live…. So I’m going to stop writing now and enjoy it!!!
Damn, I forgot it wasn’t real, I guess it’s back to reality!
Well that was fun – my first Thought Experiment! Below is a list of the other participants so please check out their answers. Until the next one!
P.S. I wrote this in about 25 minutes with no cross-referencing and no editing (as per the rules!) – please don’t judge!
Mr Way
Other Participants
I’ll add links to the other participants in this Thought Experiment below when they are published. Please give them all a read and tell them what you think!
And a great overview by Merely Curious
If you want to take part yourself, please contact @SavingNinja on Twitter or contact him on his website.
Pingback: What's next? | { in·deed·a·bly }
Pingback: Beyond Financial Independence: Tracing My Roots - Cashflow Cop
Ahh, the most important project of all, having kids! I completely forgot about this one 🙂 I love the learning how to do a handstand and learning a new language projects!
Awesome post, thanks for taking part.
Pingback: What will you do when you retire? - Dr FIRE
Pingback: plans for life after FI - thought experiment #5 - theFIREstarter
Having read a few of these posts it’s great how many of us just want a quiet life enjoying the simple things, travel, reading, family and finding our own quiet corner of the world.
Great post Mr. Way 🙂 You have quite a long list with things to do after you retire. You won’t get bored very quickly… especially if you add kids to the mix 😉
Pingback: When I grow up: My hopes and fears when I achieve financial independence - Ditch the Cave
Pingback: Thought Experiment: What Do You Do When You Retire? - What Life Could Be
Pingback: What to do When You Retire? • Saving Ninja Thought Experiments