When is enough enough? When should you retire? I fully realize many of us simply do not have that option right now. It’s just flat out not on the table! I get that. However, for those of you who COULD retire, or could scale back, or could change careers please read on. Perhaps my friend’s circumstances will be sobering for you!
Recently I texted a friend, who I hadn’t talked to in a while, just to “talk” basketball. I have long been a fan of Russell Westbrook whereas my friend, let’s call him TaxMan, is not a big fan. He is more apt to call him “Westbrick.” Over the years, when I would point out Russell’s many impressive triple-doubles, TaxMan would respond with something like “Westbrick actually had a quadruple double as he also had 10 turnovers.” Recently Westbrook had a great game and I wanted to remind my friend that Russ is still putting up good numbers sometimes… in fact, in this case, a “perfect” triple double!
The response from TaxMan was sobering to me. You can see the actual image below.
He also told me as follows with a few edits for anonymity:
Heart attack last Friday. Sledding at [a] Ski Resort. Started feeling like shit, sweating profusely. Decided to walk back to sledding kiosk to be around people. Collapsed when I got there. Fortunately, the Ski resort has on-site EMT, and a doctor was there as well. 20 minutes of CPR and 6 paddle shocks later I come back. My poor family walked up on complete chaos. My son-in-law noticed it was me. Got transported first to … [a hospital and then to a different hospital]. Prognosis is waiting and see. 3 stents put in – Left Anterior Decending needed two of them. You can research widowmaker LAD artery to see what I went through. I was going to retire at the end of my lease (16 months). Waited too long…
A week later I texted to see how he is doing and, I was sorry to learn, he is still in the hospital! He said:
I should be out of cardiac ICU today. Home, maybe Thursday. There is some heart damage but it will take six months to see if any is permanent.
So when is too long to work? When should you hang them up and head to greener pastures? Obviously, TaxMan is still alive but his long term prognosis is not totally known. I presume he’ll move toward retirement sooner rather than later but I don’t know that.
He has a very successful accounting practice in California. He has built up a broad mix of clients through many years of hard work. I am sure he makes a very comfortable income. To walk away from that can be difficult!
I am not suggesting what you should, or should not, do but I am saying you at least consider your options. Think about any alternatives that may work for you. Can you work less? Can you change jobs? Can you scale back? Can you fire your five most stressful clients? Can you completely change careers? Can you just flat out retire?
Those questions naturally lead to others… can you pay your bills? Can you fully retire? If you scale back will you ever save enough to totally retire? Do you need to re-examine your entire life and your financial “needs” and decide what’s actually a NEED?
I know I was on the treadmill of life for a long time. I made a very nice income for many years. I enjoyed that income. My family enjoyed that income. It came at a price as I had a very high stress level and felt it was affecting my health.
Unfortunately we were also victims of lifestyle creep throughout the years. We stayed at nicer and nicer hotels, we got a housekeeper to clean our home, etc….
For us slowing down at work meant we had to make some choices. You might have to also but, if it’s the difference between life and death, maybe it’s worth making some hard choices!?
Take care of yourself!
