The Benefit of Half Retirement

I have a secret. I don’t need to work anymore. Based on my calculations, I should be able to weather most post retirement sequence of returns scenarios. I am truly financially independent. Yet, as you can tell, I have still decided to put my hours in at what most would consider a W2. Although, as a contractor, I have much more control over my life, it is still a job. Plain and simple. I am employed. While this may seem contradictory in this community, the benefit of half retirement far outweighs the risks.

If time is a commodity that can’t be bought, how do I justify spending some of mine in such a manner?

Purpose, Identity, and Connection

I have written much about leaving medicine to pursue a life as a writer, podcaster, and public speaker. Financial independence has given me the ability to concentrate on my unique purpose, identity, and connection. Medicine wasn’t filling those needs, so a transition was quite appropriate.

It would be a mistake, however, to say that doctoring should be completely banished from my sense of purpose. It wasn’t the practice of medicine, but rather the stress, guidelines, and compliance based atmosphere that was making me so miserable.

The benefit of half retirement is that I can concentrate on all the identity affirming aspects of the profession, and drop everything else. Hence the move to hospice. I am a doctor, to deny that would not lead to greater happiness or fulfillment.

Over the years I have built a community around myself based on this profession. My work in hospice allows me to continue to build connection with nurses, social workers, chaplains, CNAs and administrators who are all mission driven. We have common passions and goals.

These are my friends.

Risk Mitigation

The benefit of half retirement is that it is not the one more year syndrome. As opposed to being driven by fear, my choice to continue working is based much more on the positive aspects of employment. This is part of my life’s work.

But, I would be remiss not to mention the benefit of risk mitigation. I have talked in the past about all the different asset classes. We all consider stocks, bonds, and real estate as part of a smart diversification plan. Should we think about the W2 asset class any differently?

As I have said in the past, a good financial plan has at least four legs. My hospice work is one of those legs.

The Fatest FIRE

I am definitely a proponent of FatFIRE. I simply don’t want to have to budget. Or plan. Or worry about travel hacking. If my rental properties go a few months without being rented, I don’t want to stress. I want to live a post financial independence life where I think about money as little as possible.

My W2 income is like an extra. Given that I have my own perpetual money machine consisting of the other asset classes, whatever I make at work is completely play money. I can do with it whatever I want guilt free.

Why travel on a budget? Why bargain shop? The benefit of half retirement is that you don’t have to.

I can easily afford luxury if I want to.

Final Thoughts

For those out there who hate their job, I think full retirement is reasonable as soon as financially possible. For the rest of us, the benefit of a half retirement should be considered. It has allowed me to hold on to the parts of being a doctor that reassert my purpose, identity, and connection. It has helped me both risk mitigate, and also afford a life with even less money worries.

Why ever wouldn’t you consider such a path?