To me, the early retirement option has always seemed like it was better suited to people who had unrewarding jobs that paid better than any of the jobs they would like more (for MMM, this was programming). On the other hand, even if you like your job it’s hard to see how having substantial savings in case of layoffs or unforeseen circumstances could be a bad thing (see Richard Meadows’ post on this point). Thus, like you, I’ve started leaning toward the “retire in your mind” option. I also find that the parts of my job I like the most require physical infrastructure that is effectively only accessible within institutions, so I favor a path that lets me retain access to that while not worrying about the periodic layoffs endemic to my chosen industry.
I don’t think we can learn too much about what people want to do with large amounts of free time from what they have done during Covid. The pandemic has brought a new set of unpleasant constraints. Inability to travel or see friends and loved ones without inducing lots of worry and guilt might make you pine for office politics!
To me, the early retirement option has always seemed like it was better suited to people who had unrewarding jobs that paid better than any of the jobs they would like more (for MMM, this was programming).
Yeah. And I think I’ve always underestimated how many people have a job doing exactly what they want to be doing. For me, I really, really enjoy teaching and could see myself wanting to spend my life doing that. I could also see myself at the right programming job wanting to do that forever.
On the other hand, even if you like your job it’s hard to see how having substantial savings in case of layoffs or unforeseen circumstances could be a bad thing (see Richard Meadows’ post on this point).
Well, I wouldn’t go that far. There is a tradeoff in play. You could go on a lot of awesome vacations with that money you’d need to retire in your mind :)
I also find that the parts of my job I like the most require physical infrastructure that is effectively only accessible within institutions, so I favor a path that lets me retain access to that while not worrying about the periodic layoffs endemic to my chosen industry.
As a programmer, I see some parallels here. Mainly that you get to interact and learn from other smart people when you work at a (good) company, but also that you get to solve problems that you otherwise wouldn’t get to work on alone. Caveat is that if you look hard enough you can find these things in the world of open source.
I don’t think we can learn too much about what people want to do with large amounts of free time from what they have done during Covid.
Hm, I think that’s a good point and that there’s definitely truth here. But I also think that there are things that we can learn. Covid means people can’t do certain social things with their free time, but it doesn’t prevent them from doing things like art or music. So if people don’t take up art or music during Covid with their excess free time, that seems like reasonably strong evidence that they also wouldn’t take up art or music in a non-Covid world with excess free time.
So if people don’t take up art or music during Covid with their excess free time, that seems like reasonably strong evidence that they also wouldn’t take up art or music in a non-Covid world with excess free time.
Not necessarily. Fear and anxiety can inhibit exploratory behavior.
Yeah, to some extent. My impression is that the evidence is somewhere in the ballpark of moderate to strong. I could see an argument for why it should be considered weak, but it’s hard to see an argument for it being zero evidence (I’m not sure if that’s what you’re implying or not).
Thanks for this post!
To me, the early retirement option has always seemed like it was better suited to people who had unrewarding jobs that paid better than any of the jobs they would like more (for MMM, this was programming). On the other hand, even if you like your job it’s hard to see how having substantial savings in case of layoffs or unforeseen circumstances could be a bad thing (see Richard Meadows’ post on this point). Thus, like you, I’ve started leaning toward the “retire in your mind” option. I also find that the parts of my job I like the most require physical infrastructure that is effectively only accessible within institutions, so I favor a path that lets me retain access to that while not worrying about the periodic layoffs endemic to my chosen industry.
I don’t think we can learn too much about what people want to do with large amounts of free time from what they have done during Covid. The pandemic has brought a new set of unpleasant constraints. Inability to travel or see friends and loved ones without inducing lots of worry and guilt might make you pine for office politics!
Thanks for the input!
Yeah. And I think I’ve always underestimated how many people have a job doing exactly what they want to be doing. For me, I really, really enjoy teaching and could see myself wanting to spend my life doing that. I could also see myself at the right programming job wanting to do that forever.
Well, I wouldn’t go that far. There is a tradeoff in play. You could go on a lot of awesome vacations with that money you’d need to retire in your mind :)
As a programmer, I see some parallels here. Mainly that you get to interact and learn from other smart people when you work at a (good) company, but also that you get to solve problems that you otherwise wouldn’t get to work on alone. Caveat is that if you look hard enough you can find these things in the world of open source.
Hm, I think that’s a good point and that there’s definitely truth here. But I also think that there are things that we can learn. Covid means people can’t do certain social things with their free time, but it doesn’t prevent them from doing things like art or music. So if people don’t take up art or music during Covid with their excess free time, that seems like reasonably strong evidence that they also wouldn’t take up art or music in a non-Covid world with excess free time.
Not necessarily. Fear and anxiety can inhibit exploratory behavior.
Yeah, to some extent. My impression is that the evidence is somewhere in the ballpark of moderate to strong. I could see an argument for why it should be considered weak, but it’s hard to see an argument for it being zero evidence (I’m not sure if that’s what you’re implying or not).
For me it seems to be more in the range weak-moderate, but I agree, it is definitely not zero evidence.