This year has been a year of change. I have said this many times this year. The changes didn’t stop when I retired either. In fact I am announcing to the FIRE world I went back to work last week after five months of no work. I’ll try my best to explain my reasons.
The primary reason for going back to work is the possible coming recession. We have all heard of sequence of returns risk. If you hadn’t, it is basically drawing on investments during the beginning of retirement during down years that could derail future investment growth. The idea with going back to work is that if we can continue to invest and save money during a recession then we will be that much better off once the recession subsides.
In addition to protecting our investments we have also used this job as a way to transition to Boone, NC. We have wanted to move to Boone to be closer to my mother-in-law and taking this job has allowed that to happen. Faster than expected. There are not a lot of jobs in the area as it is mostly a retirement/college town so when this job came available I applied. I have no idea how long I’ll keep the job because it depends on if I like the job or the length of any recession.
Another reason that this move works is it allows my husband Jeff to step back from his job and spend more time with his mother. This is something we have wanted to do for years but the timing was never right. When we talked about our reasons for pursuing FIRE spending time with family was a major reason and now we have the chance to design our life to meet a stated goal.
From a money point of view with the added income from working our net worth has not gone down with the recent market down turn. My hope is that this will continue to be the case as we continue through the market adjustments. We have restarted investing into the market and plan to continue until it’s time to discuss full retirement again. We will continue to maintain at least two years of cash on hand so if our plans change we can easily change with it.
This year has been crazy with changes. I quit my job; became a Mexican resident; moved to a new town; moved in with my mother-in-law; and started a new job. And we are just over half way through the year. I am not sure I can handle many more changes. I just want to maintain the new status quo through the rest of the year.
“The Only Constant in Life Is Change.” – Heraclitus