Retirement is wasted on the old

Youth is wasted on the young.
Retirement is wasted on the old.

Retirement

Retirement. It’s the goal to which we all aspire. To gain enough financial security such that we no longer have to work for the rest of our lives.

When I started working at IBM at the height of the dot-com boom I had visions of retiring by the age of 30. Six months later the bubble burst and I was fortunate to have a stable job. What was I going to do when I hit 30 and was able to retire? I don’t know, but I knew that “retirement” was the goal.

For many people in the US, the magic age for retirement is 65 when Social Security kicks in to supplement your income. For others it may be a decade earlier.

But stop and think about it: why are we waiting to live until we’re old? Why do we think that when we reach retirement that we will be content not working? As someone in their 30s who has taken six months off work test-driving retirement, I’m here to tell you that we’re doing it all wrong.

Living in the now

I love to travel and have always assumed that I would do much more of it when I retired. And perhaps I will, but after doing quite a bit of traveling over the past 6 months I realize just how taxing it can be. Fast-forward to 30 years from now and how much more taxing will it be when I’m 68? Will I still want to be gone from home for weeks at a time? Will I still be able to hike up mountains? Will skiing in the winter still sound like fun? Will the mountains still have snow 30 years from now?

I want to take every opportunity to travel and live in the now while my body still works. While my knees don’t hurt. While I can still see and hear. While I can still remember things.

Every year I use up every single hour of my vacation and sick time. Some years I come skidding into the last few months with virtually nothing left and throw myself on the mercy of my manager to work from home for a few days around the holidays.1

It’s not enough.

A few weeks of vacation a year is not enough living, it’s still pinning hopes on retirement, biding time until that fateful day. I have to learn to live outside of vacation time, get more of it, or both.

Doing nothing is boring

One of the realizations that I had during my sabbatical was that I love to work. Perhaps not the 9-to-5 job in front of a computer for someone else, but I love programming. Creating something useful. Working with a team. Who’s to say that I won’t want to continue doing something like this after I reach retirement age?

What if retirement wasn’t “not working for the rest of our lives” but “working differently or working less” instead? My good friend John Martin retired over a year ago and has been doing some contract work for his prior employer. Not because he must, but because he enjoys it.2

Why can’t we have a better balance between work and living and stretch out both for longer?

Perspective

My uncle died last month from pancreatic cancer. He was 69. He went from diagnosis to dead in 5 weeks. His father, my grandfather, died from pancreatic cancer at 83. My grandmother tells me that my grandfather’s father also died from pancreatic cancer. As you can guess, it can be hereditary.

From the American Cancer Society:

Almost all patients [who are diagnosed with pancreatic cancer] are older than 45. About two-thirds are at least 65 years old. The average age at the time of diagnosis is 71.

I may not make it to retirement to begin living; I have to live now.


1 Thankfully, every manager I’ve had has been most forgiving with vacation hours. Also, I love working around Christmas and New Years because no one else is around which gives me tons of uninterrupted Maker time.

2 He recently came out of retirement for some great reasons.

A sabbatical is not a trial-run for retirement

A year ago when I first started planning my sabbatical I had the idea that I would use it as a trial-run for my future retirement. I know many people, many of them men, who work all their lives and yet when they retire they don’t know what to do with themselves. My Dad is one of those people. He has owned his own business, pouring himself into it, for the past 40 years. Now that he’s on the verge of retirement he seems to be at a loss with what to do with himself. I’m like my Dad in that I pour myself into my job. Could I use the time off from work to cultivate skills that I would ultimately need in my eventual retirement?

I’m here to tell you that while a sabbatical can be amazing and useful for cultivating some retirement skills, it isn’t a trial-run for retirement. The biggest reason for this is that a sabbatical has an end-date.

Retirement skills

Sabbaticals are great for identifying things that you need to survive retirement that your work currently provides.

The biggest eye-opener for me was how much I need to be involved in a technical pursuit. I love programming and working with a team, things that I primarily get to indulge in at work. After I started my sabbatical, however, I didn’t have anything technical that I could really sink my teeth into. After a couple of months I started back into volunteering with Distributed Proofreaders doing development work which really improved my overall happiness. Frustratingly, the pendulum swung too far and DP became work for a while which took some time to realize and correct.

Another thing that I really needed was time away from my significant other. I love Daniel, but unlike my parents who have spent almost every day together for the past 40 years running the family business, I need time away from my S.O. Having some time apart lets us do our own thing for a bit and then come back together later to share different experiences.

Yet another thing that became important to me was some structure to my day. When I am working I have a fairly structured schedule. I have some idea of what tomorrow will look like, at least in part. When you’re on sabbatical, and presumably when you’re retired, tomorrow’s calendar might not have anything at all on it. For some people that can be liberating. For those of us who thrive on structure, it is intimidating. For me I’ve discovered that while not every day needs a plan, that having some plan for some days makes it easier to enjoy the days when anything goes.

Not a trial-run: the end is coming!

If you only have a limited time off of work you’re likely to do a fair bit of traveling. Indeed that’s what I did, including a week at Critical Northwest, 2 weeks in the DC area, 3.5 weeks in Europe, 2 weeks in the Carolinas, and 2 weeks in Texas. We have plans to spend 2 weeks in the bay area next month and hopefully a week or more in Denver in March. That doesn’t include other smaller trips to Portland, the Tri-Cities area, and Sequim. For me at least, that amount of travel isn’t sustainable when I retire but I would have kicked myself if I hadn’t taken advantage of the time off of work. That much time away from home makes forging strong out-of-work social networks challenging — networks that I know I will need in retirement.

Knowing that there’s an end-date prevents you from committing to activities that will go beyond that time, such as volunteering with local organizations that have a weekly time commitment during the day, or investing heavily into a craft that will take over a room in your house.

Worth every penny

If you have the opportunity to take an extended leave away from work, I highly encourage you to take it. It may not be a trial-run for retirement, but you’ll have a great time learning more about how you derive happiness from work and ways to achieve that outside the office.