optionality to continue working

[zb2]

It seems that one of the mainstream arguments to continue working (especially when you're at the threshold of having enough money to stop from a financial perspective) is that it provides the option to continue working, whereas once you stop it can be difficult to start again. This seems more applicable if you're in a corporate career track where they may question a gap in employment (perhaps less applicable if you are an entrepreneur or independent consultant).
What do you all think about how valuable or important this option is (in an ERE context)? This is assuming you're approaching the point of being indifferent about your job (since before that point, when you still like your work, this presumably isn't as much of an issue).

[DutchGirl]

I feel like: what's a job? A job is something which provides money, and if you're lucky one or more of the following: entertainment, challenges, meaning, power and status.

So I think that if you're truly FI and don't need the money, you can find challenges, meaning and entertainment where ever you go (doesn't need to be in the shape of a job). I don't know a lot about power and status though, since they don't interest me very much. It's possible that by giving up certain jobs you lose a certain obvious status, and getting back to a similar status might require a lot of time if you have to do it outside of a job.

[Did]

I'm knackering my legal career by the minute. But you know what, I didn't enjoy it, which was the whole point of retiring from it.

[IlliniDave]

I can only reflect my own perspective, which isn't any sort of argument for or against anything. It's just one persons opinion/desire.

It's about uncertainty. Since I can't predict exactly how much money I might need (or want, for that matter) it makes sense to me to obtain some margin at a time when I am at peak efficiency when it comes to piling up money. My goal post-career is to pursue a leisure lifestyle that isn't terribly conducive to accommodating paid employment. So, per the old expression, I'm making hay while the sun shines. If circumstances drive me back into the paid workforce, so be it, but I want to minimize the chance of that. Employment for enjoyment or personal enrichment is always a possibility too, though I couldn't name something I intend to do right now. Part of my attitude is my age. On the cusp of my mid-50s the thought of re-entering the workforce due to being in financial straits 10 or 20 years down the road borders on being repulsive. Nothing wrong with that in an absolute sense, it's just not for me.

[Lucky C]

I'm hoping to start up a side business, however small, that is earning me at least a little income once I quit my career. Even if I don't need the extra money, I want a plausible story to tell people who just wouldn't understand retiring at an early age. This will placate objecting family members and also provide a reasonable explanation of a gap in employment in my resume if I need to re-enter the workforce. If your skillset is in demand, you shouldn't have too much trouble if you have a good story about taking a few years off for entrepreneurial endeavors, especially if you don't let your skills dull during your time off. However if all goes well, the side income will keep growing anyway and reduce the odds of needing to re-enter the workforce to nearly zero.

[Dragline]

It's a nice option to have and one I have taken advantage of.

I agree with Illini Dave that dealing with uncertainty is part of it, especially if you are currently supporting a number of others. I also don't plan on relying on a "going back to work" option when I'm done, so I'd rather over-save at this juncture, and I like most of my job most of the time anyway.

Funny thing for us is, while I'm contemplating when to walk away for good, DW is contemplating going back to work now that our youngest in in high school -- not for money, but just personal fulfillment. I told her it would be most convenient for us if she took all of her comp in health insurance benefits.

[Tyler9000]

I remember when I left my job this definitely went through my mind. If I quit now am I ruining a good career, and will I ever be able to go back?

I learned afterwards that this fear was completely unfounded. Not only was I able to get work for a while (when I wanted it), but I was also able to name my terms. Having the ability to say "no" opens up way more options than clinging to a job you don't even really want. But you don't really appreciate that until you truly embrace it.

[James_0011]

Even if you want more money in the future you could always just pick up random jobs like being a grocery store clerk or doing consulting in your industry. Assuming you planned for ere correctly, income from a new job would come at 100% profit with your living expenses being covered by your fu money. Not hard at all to find odd jobs.

[Riggerjack]

They announced 1000 layoffs at work. The decisions are being made from across the country, no local input. And they are brutal. Cutting 5 out of 6 people with the same title.

This has made me think about my options. I'm not qualified to get this job if I lose it. On the outside, it requires a degree I don't have. My former job, as a cable crew foreman, has new certifications that would require that I start over as an apprentice, as I was working my current job during the grandfathering period. A special thanks going out to L&I and my Union.

However, thanks to ERE, I could sell my house, deleverage my RE investments, buy a used 5th wheel, and live comfortably.

I don't do that, because I'm 6 years from my pension. The difference is nearly as much as I will earn over those 6 years. Also, as Jacob has said, after living expenses are met, the extra money is mainly just project money. I have plans for some very capital intensive projects. Retiring now would mean either not doing those, or making them more work and stress than they should be. I like my job. I'd like it more part time. But I will keep at it, as long as they let me, or until it really isn't worth my time.

In my opinion, there are good reasons to continue working beyond your savings goals. But remember, you will probably only get 70-80 good Septembers (my favorite month). Don't waste them.

[FBeyer]

I remember when I left my job this definitely went through my mind. If I quit now am I ruining a good career, and will I ever be able to go back?

I learned afterwards that this fear was completely unfounded. Not only was I able to get work for a while (when I wanted it), but I was also able to name my terms. Having the ability to say "no" opens up way more options than clinging to a job you don't even really want. But you don't really appreciate that until you truly embrace it.

Only just saw this now.
Don't you think your option to pick and choose, even after retirement, is because you were/are so specialized that you point to the exact niche you're filling and say how you want to work?

Someone with bland, but good, software experience (say) doesn't strike me as someone who could do the same as you.

[Tyler9000]

Having something you're good at definitely helps, but for me the larger factor is the network I built over the years. If I ever need work, I know several people I can call. Never burn bridges.