A lot of bloggers and authors have pitched the idea of an “Early Retirement,” and how, if you follow their methods, you can scrape together enough money by age 30 (or 35 or whatever) to become financially independent. It’s an appealing concept; no bosses, no commuting, no ironing dress-shirts… But it’s not the only way, or even the best way to a better life.
It seems to me the proponents of this idea are missing an important question. Namely, “once you’ve reached this goal, how will you spend your time in such a way that you have the best life possible?”
To me, eliminating work entirely doesn’t make a lot of sense. I like work. When I get into a lazy rut, my mood grows more depressive, I become bored and unhappy, and everything starts to feel so impossible and futile. My life is worse. Conversely, when I’m doing good work, I feel engaged and purposeful. My life is better. I think this is probably true for most people.
At the same time, it still doesn’t make sense to keep going to a job you hate. In fact, I’d encourage you to do anything besides that. Change companies, switch careers, start your own business! I know people who have done these things, and they are so much happier than they were before!
The real key, then, isn’t escaping work altogether, but getting to a point where you do work you enjoy and get paid well enough to support yourself. That’s sustainable and attainable, but it won’t cost 10-20 years of your life.
By age 60, the place you’ll end up is far better if you spend more of your adult life doing work you love than if you wait until retirement (at whatever age) to find out what that is. Assuming you have enough money, wouldn’t you rather be talented and successful at something you really enjoy?
Thirty-year-old retirees are therefore in an ironic (albeit comfortable) position. They worked their asses off in their 20s to avoid ever working again, only to find that they need something (something that looks a lot like work) to keep themselves engaged and satisfied in their new lives. So despite the advertising that the early retirement plan will revolutionize your life, it doesn’t have all the answers.
To paraphrase the Chinese proverb, “The best time to start doing work you love is 10 years ago. The second best time is right now.”