Quote:
Originally Posted by Seahawk
Precisely correct: I never plan on not working...I'll either make the farm profitable (there are lots of opportunities), continue with my main business or up my volunteer hours. Or a combination of the three.
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That's also been my approach. Back when I was still in the law, my partners used to sit around over drinks and talk endlessly about how much money they needed before they could "check out" of the firm. The assumption was always that they would never earn another dime after they left, and of course many of them didn't (and don't) and are drinking themselves to death on the 19th hole.
My approach was always that I would be doing something interesting (and remunerative) as long as I live, so the question of how much I needed to "check out" was always largely moot for me.
I also second what Jack says about retiring without any clear plans about how you intend to fill your time. I have seen many of my former colleagues do this, and it is often a sad sight. One of my former partners, one of the brightest litigators I've ever met, now sits in a large pile in the south of France, cursing the weather (too cold in winter, too hot in summer), the French (because they don't speak English), the tradespeople working on his pile (because they don't speak English), the lack of golf courses (compared to the UK), the fact that the frogs drive on the wrong side of the road, the absence of pubs etc. etc. In just a few years he's gone from "master of the universe" to "lonely and miserable git with a drinking problem". There are people who should never, ever retire.