It has almost been one entire year since I quit my job, started traveling, and started the new adventure of retirement. I retired when I was 29, and now I’m 30-years-old and unemployed-by-choice. That’s quite a lifestyle adjustment! I did my best to keep a record of each month in my Early Retirement series, but now that it’s been a year, it’s time to reflect on the experience. Did I blow my budget on international travel? What did the bucking stock market do to my livelihood? Is it time to give up this crazy ‘early-retirement’ thing and go back to my old over-air-conditioned office? Here is my tell-all of one year of early retirement.
Early Retirement Series
Early Retirement Month One: Copenhagen, Cat-sitting, and Creativity
Early Retirement Month Two: Goodbye Amsterdam, Hello Bali!
Early Retirement Month Three: Bali and Your Burning Questions
Early Retirement Month Four: Thailand Whirlwind Adventure Tour
Early Retirement Month Five: Taste of Taiwan — A 2-Week Itinerary for an Unforgettable Trip
Early Retirement Month Six: Unveiling the Marvels of Japan
One Year After Retirement
I have shared about the first 6 months of early retirement (links above), but there are still 6 months unaccounted for. I spent Early Retirement Month Seven travelling through Australia and New Zealand, and the rest have been spent back in Santa Barbara, California. Half a year abroad, and half a year at home.
When I was on the journey to FIRE, I was always ravenous for content about what early retirement was like, yet to my dismay my favorite writers updated less and less frequently once they left their full-time jobs. I understand how that could happen now; as the structure of my days disappears, so does the amount I write for the blog. A big reason is that without the restrictions of a day job, I’ve been able to spend much more time out of the house and enjoying my life.
How Much Money Do I Have Left?
A year ago, I published It’s Happening! I’m Retiring At Age 29 With $650,000. If you’ve been following along, you know that since I retired, I have been on 12 flights, explored 7 countries, and have earned less than $500 total (catsitting and coaching!).
In the past, I’ve spent about $20k a year. It was hard to estimate how much I might spend given the travel, but it turns out that I was right on the money (puns always intended), spending approximately $20,600 in the last year. Therefore you might expect my networth to be somewhere around $630,000 right? Wrong. While I kicked back on Thai beaches, my money got to work in the market. I have more money today after taking a year off of work than when I started.
Currently I have ~$730k. This is more than enough to continue sustaining my lifestyle, and really highlights the benefits of investing. It is hard to believe that I didn’t set foot in an office all year and yet I still made money. Early after quitting, you can see that there was a brief downturn and my net worth dropped to about $560k. Because my long-term investing strategy accounts for blips like these, I didn’t worry about it and kept on enjoying Indonesia.
Easing into Retirement
Many people struggle to actually pull the plug on their careers and retire at all (let alone retire early). My set up really helped me ease into retirement. First off, I didn’t have to go straight from a high-paying job to nothing. Instead, I took a pay cut and moved abroad to the Netherlands, which helped me adjust my lifestyle in positive ways. I lived in a country that actually encourages more vacations and a personal life. At the same time, I bid farewell to those plush paychecks of the past. I liked my new job and the people I worked with, but when I quit for good it was a much easier transition.
Plus, I had something to look forward to: world travel. With a plane ticket booked, retirement wasn’t just the lack of work. It was the addition of adventure. I didn’t have to fret about who I was without a job title or worry that I wouldn’t have anything to do. For anyone struggling with retiring, I recommend treating it like a sabbatical. Take six months to a year off without the pressure of it being permanent. If I wanted to go back to work after my travels, I could! Do I want to? No.
What I’m Doing When I’m Not Traveling
It’s easy to say there is a lot to do in retirement if it mostly involves backpacking across Southeast Asia, but what about when I’m back home? I’ve been spending a lot of the time walking, writing, napping, playing with the cat, and various hobbies. My main goal is to write a book, but surprisingly procrastination is still powerful, even without a full-time job. Still, the day-to-day maintenance of life is 1000% easier when I can go grocery shopping during the weekdays and go to doctor’s appointments without scrambling to reorganize my meetings for the day.
It’s good to be realistic— my imagined life of daily surfing, painting in the afternoons, and sunset hikes is not really how it’s been playing out. I am on my phone more than I’d like to admit. However, one of the biggest impacts is that I have taken a lot of guilt-free trips to see family. I spent two weeks on the Oregon Coast, getting to visit extended family and That Frugal Pharmacist. Then I went to Denver for two more weeks to stay with my family, dance to Taylor Swift on her Eras tour, and climb a 14er.
If I were still working I would have already run over the limit of paid time off for the year. By a lot. For this reason in particular I think it would be hard to go back to my traditional 9-5. If I do want to earn more money in the future, working for myself seems like the only desirable option.
A Day in the Life of Early Retirement
It’s really hard not to shake the feeling that I ought to be doing something ‘productive’. This is what a typical day could look like:
Morning-time. I have a cup of coffee, read a few chapters of a book. I pad out in my socks to check the mail. Go for a walk. Get hungry, head home. Cook lunch, chop some bell peppers, stir in pesto and gnocchi. Carry a lounge chair into the sun in the front yard, read some more. Write a chapter. Call a friend. Go for another walk. Schedule a hike for the weekend. Do an administrative task. Send a funny reel to my sister. Run a bit of string around the house, exercising the cat. Read again. Do research on a niche topic. Share the kitchen with my roommate, who tells me all about a show called Jury Duty, like a real-life Truman Show. Make a delicious dinner.
On Tuesdays I go to Trivia. On Fridays, ceramic class.
Almost every retiree I read from cautioned that you will not magically turn into a more prolific or energetic person when you quit. This has definitely been my experience. Early retirement still feels like a long weekend. It’s easy to imagine yourself running marathons and whipping up a new-recipe-a-day. But if you don’t enjoy running or spending hours in the kitchen, chances are that won’t change in retirement. Of course, some things might be a little more pleasurable. If you avoid the gym because it’s crowded, in retirement you can enjoy tranquil midday workouts. But you won’t suddenly become a different person who loves working out now when you never did before. Ask me how I know.
From Side-Eye to Self-Discovery
In sharing my story about early retirement, I hope to inspire others to challenge convention, embrace their dreams, and embark on their own unique odysseys. Early retirement, for me, has become a symbol of empowerment and self-discovery – a reminder that we possess the agency to script our own narratives. Stepping away from a traditional career at the age of 29 raised eyebrows and elicited not-a-small-amount of side-eye. However, it’s good to remember that early retirement isn’t about abandoning responsibility or productivity. It’s about redefining the very notion of work, finding purpose in unconventional places, and crafting a life that you’re proud of. I’ll let you know how it goes along the way!
Up Next!
In the next post, I answer reader questions all about early retirement. If you have anything you want answered, leave a comment below.
Hi, it seems that you have landed into a fullfilling routine. Very nice to see how it all works out and congratulations with the right decision. What strikes me is that looking back you seem so sure about quitting at 29 with the nest egg you had then. You also note that you didn’t worry much about the drop in net worth during the downturn. This is very refreshing to read since you often see stories of people being afraid to pull the trigger and suffering from One More Year syndrome. Did you not worry at all? And did you, in the light of recent inflation etc. not would have built up some more cushion? Please let us learn from your mindset;-) All the best, Marc
I’ll add your questions to the list!
Wondering if you’ve chosen ACA for your health insurance and -if so- how has your experience been with it (availability, cost, etc…)? Thanks!
Yes, healthcare is an often-asked question.
Congratulations! Love your story and the way you write btw. Would love to know what you’re invested in and your future withdrawal plan, please 🙂
Would love to know how you get around in the U.S. and while traveling as well as how you spend your 20ish K a year.
Thank you so much!!
I appreciate that. I’ll add your questions to the post!
Keep living your best life, what a dream to live a life of frugal luxury at such a young and healthy age!
It has been a dream for sure!
Easing in seems to have worked great for your first year. And 6 months of visiting family and figuring out your new baseline sounds perfect.
So far it has been a great timeline!
Has increased cost of living / rent impacted your expenses? Air tickets have skyrocketed this year, airbnbs too
Added to the list!
Great post!! I have a few questions, you may have answered and I missed. How big was your cash cushion when you quit? Did you include that amount in your stash? Is there anything that has surprised you about early retirement?
Added to the list!