Retired. Re-tired. Tired again. Retirement isn't the same, but it never was.

 

Retirement is another of today's societal concepts that we think has always been there. A person is born, they learn and grow, they get a job, raise a family, get rid of the kids, and eventually put work behind them and relax for the rest of their life. That was true for a few special decades out of the millennia of human civilization.

 

 

The concept of retirement may also have a short lifespan. I think it is already fading. Just as a worker in 1600 couldn't imagine retiring, a person in 2200 may need the concept explained too.

 

Retirement, in terms of working until about sixty or seventy, made most sense when the job was a lifetime career with the same employer, and when a life may only last until the seventies or eighties. A decade or two of relaxing was easier to save for, and easier to plan for. An established company job with a fully-funded retirement plan simplified the steps, the journey and the destination.

 

The good news is that we are living longer. The bad news is that post-retirement finances are more complicated. The other bad news is that company jobs may not last as long, partly because companies may not last that long.

 

But lets get back to that good news. We are living longer. Throw out the concept of retiring under a palm tree and drinking until the body fades away. Keep a large chunk of that for repeated vacations. For the rest of life though, ignore retiring. Concentrate on living.

 

At any age, finding a sustainable lifestyle can be the healthiest accomplishment for anyone. Sustainable activities, interests, communities, and sustainable finances provide a new point of view on the world. Retirement has meant overwork for decades to establish an enormous money reserve that can be used to coast for untold years. That might work. It has for many. But it can also be unhealthy. The peasant farmer, craftsman, or neighborhood merchant from three hundred years ago actually managed sustainable lives mixed with work and play; but unfortunately they were unsupported by health care sufficient to carry them through the worst.

 

I don't know any retired people. I know plenty of people who have left their careers behind and may even be collecting pensions and Social Security, but almost all of them are also spending tens of hours a week on charities, helping friends, working in their neighborhoods. Many of them encounter tasks that make them extra money. None of them are doing nothing. It makes for a nice community and neighborhood.

 

Planning for a retirement of zero extra income that may last for decades requires painfully large amounts of money or extreme austerity. If you've done those calculations and been dismayed, don't be surprised. I suggest trying them again, but add in some spare income. A few hundred dollars a month can have a powerful influence. A portfolio has to be very large to sustain an expensive life of absolute idleness. A small income can drop the required size of the portfolio, or can ease the necessary return-on-investment. A few extra dollars can move an "retirement" date up by years. Most people I know are selling a bit of what they make, or consulting, or mentoring, or taking small jobs for the fun of it. I met one gentleman who drove a coffee and pastry van to offices and construction sites for a few hours, then went straight to the golf course for his daily eighteen.

 

The other powerful element in a sustainable life is doing what you enjoy, a task I continue to refine and which is much larger than I ever imagined. My passions cost money, but they save me even more. I am less likely to spend too much on something that's ultimately unsatisfying. Why spend money and time doing something I don't enjoy? And doing something that I love means I also get better at it, which makes it more likely to generate income. That isn't my goal, but it has been illuminating to reflect on how many times I've turn down offers to teach something that I do for fun. For now, I draw the line to protect the fun. Others have jumped over and are getting paid for doing what they enjoy. (I'm not opposed to getting paid for fun stuff, but there's some fun stuff that I don't want to risk confusing with work.)

 

Retirement is, like many aspect of modern life, a recent and arbitrary institution that is inexorably undergoing a redefinition. I say I am retired, because it helps explain my life, but I know that I will be busy for the rest of my time, and loving it. It will be real, so there will be issues and challenges, but it will be mine, and I certainly hope that it is sustainable. One thing is for sure, when I hear "retired", I think "re-tired" as in, "Tired again? Yep. But it was fun. Shall we do some more?"