Very true, but only when you have the basic needs fulfilled.
A few years ago when we hit 50, a few colleagues and I were pondering retirement or changing to a less demanding job. We had no more housing nor car loans but some of us still have young children. In fact, all of our children were still school going - from secondary to Uni.
4 of my colleagues eventually took the plunge and quit. Their wives who were younger are working so they have "backup" in terms of income. Fast forward 5 years, now all 4 are back to work. One selling insurance, one trying out as a stock broker and one giving part time lecturing at a private education centre and one a property agent.
I didnt have the chance to talk to them about the reasons for coming back into the workforce, but I am guessing boredom is one and at worse the realisation that their savings might not be adequate to sustain their retirement especially when their children hit Uni age. One of them said his son going to a US Uni, that will cost him $50K a year.
And what about me? I stayed and slogged in my job. For the past 5 years, I have managed to save enough money to last a further 15 years of life in retirement. In other words, for each year of work, I could save enough for 3 years expenses. Looking forward, if I stay in my job till 60, (another 5 years) I will be more than settled for my retirement.
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Originally Posted by Unregistered
I was a corporate high earner who worked very hard, day and night for more than 30 years. Due to the long hours and frequent travel, I got burnt out. Last year, at the age of 55, I decided to retire for good to take care of my health and spend more time with my family. I paid off the mortgage to my condo and car and am now totally debt free. Over the years, I also invested my hard earned bonuses and now receive passive dividend income of $90k pa from my investments. My wife, 45, is still pursuing her career and earns $120k pa. We share equally our household expenses of $100k pa and save the rest.
Today, I am a much healthier and fitter person. With regular exercise and good eating habits, I look much younger now. I look forward to do more charity work in years to come to help the poor and needy. As I reflect upon life, I realize money is not everything. Money and status will not buy you true happiness as all these will eventually be gone. What is permanent is your love and care for your family and the less fortunate among us in society.
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