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Why do many early retirees return to work?

TH (according to VnExpress) January 20, 2025 12:44

Gongzi Jing said if given the choice again between receiving one million yuan immediately or working for 3,000 yuan a month for 20 years, he would choose the second option.

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Gongzi Jing and her elementary school daughter

The 35-year-old man from Tianjin returned to work after three years of early retirement because he realized that work brings more long-term happiness. "A steady cash flow brings more happiness and peace of mind than managing a large amount of money at once," he said.

This is what Jing concluded after 3 years of achieving financial freedom, retire early (FIRE). In 2020, he quit his job with 2 million yuan in assets accumulated after 9 years working in the real estate industry. At first, his wife was worried, but after carefully calculating the expenses, she supported him.

Jing was happy in his first year of retirement. He researched investments, wrote articles, and ran social media accounts about investing, saving, and living. The stock market made him a profit of 1.5 million yuan. Although he could not travel abroad due to the pandemic, he enjoyed a comfortable life with his family.

But in the second year, investment returns plummeted while his daughter's education costs rose. Jing began to worry about financial instability. "Three years of the pandemic have only reinforced my belief that stability is the foundation of a family," he said.

Jing then returned to work. He tried his hand at a securities firm but quickly realized the job was not suitable. Then, on his wife's advice, King took the civil service exam.

"Currently, I work at a government agency, close to home, don't have to work overtime and have a stable income. I'm very satisfied with life," Jing said.

His savings account is still at the same level as when he first started FIRE, while still having a steady cash flow.

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Joey experiences many pleasures in life.

After graduating with a degree in computer science from a prestigious university in the US, Joey from Shanghai dreamed of traveling around the world. But his parents firmly opposed it.

Not wanting to give up on his dream, Joey decided to save up on his own, following the "poor FIRE" model - trying to save 100,000 yuan to live in Chiang Mai, Thailand. Joey worked at a game company, and after two years, he had enough money.

"In the first months, I was immersed in the joy of freedom. I slept until I woke up, relaxed in cafes, practiced yoga, meditated and explored new places," the 27-year-old girl shared.

But just a few months later, Joey's dream of a carefree life became disillusioned. Her schedule was turned upside down, and she felt undisciplined. Looking at the middle-aged Europeans and Americans in Chiang Mai, she worried about her future prospects.

What really changed Joey was a motorcycle accident. She broke her metatarsal bone, but the local hospital did not treat her well, causing the injury to last for more than two months and cost more than 30,000 yuan. Without insurance, her savings were depleted, and during her recovery, she had no income at all.

After that event, Joey returned to China and went back to work. She admitted that without a stable income, she could not cope with unexpected events. Besides, many young people pursuing FIRE are poor but have not thought far ahead about big plans such as buying a house, getting married, having children.

Anh Liang, 51 tuổi thấy đời vô nghĩa khi nghỉ hưu sớm. Ảnh: Zhuanlan
Mr. Liang, 51 years old, finds life meaningless after retiring early.

In Dongguan, Liang, 51, was exposed to the FIRE concept at a young age through his Hong Kong colleagues who chose not to marry or have children. At 46, Liang retired with passive income from renting out three apartments and investing in financial assets.

For two years, Liang traveled everywhere. His life was free of financial worries, but after just a few months, he began to feel confused and empty. "When I lost my job, I didn't know what to live for," he said.

Some of Liang's friends were in the same situation. "When I woke up in the morning, no one called me, I didn't know what to do," they said.

To fill the mental void, Liang actively learned and participated in many new activities. However, it still did not satisfy the feeling of "usefulness" when working. Luck smiled on the man in his fifties when he was invited by a scientific research startup established by Tsinghua University in Dongguan.

Liang is now happy with his new job. His colleagues are his age or older; his income is more than half of what it was before, but his workload is very light. He has more time to travel on weekends or take vacations to travel.

Returning to work has not changed Liang's outlook on financial freedom. "I'm in a 'two-choice' state. I can continue working or retire at any time," he said. So Liang often jokes with students and young colleagues: "Study quickly, I'll go traveling after I finish teaching."

The number of FIRE followers in China is growing rapidly. On the Chinese social media platform Douban, the group "FIRE Lifestyle" has attracted more than 230,000 members. However, unlike the concept in the West that is pursued by high-income earners, in South Korea and China, this movement attracts workers and employees seeking a balance between work and life.

Even though she's back at work, Jing still considers herself a member of the FIRE community. "For me, FIRE isn't about stopping working, it's about choosing freedom, doing what I love and if I can make money from it, all the better," King said.

Liang sees the two years of retirement as an important period to prepare for the journey of real retirement in the future. "For me, everyone needs a spiritual goal to maintain meaning in life, and should not just put hope in career or external achievements," he said.

TH (according to VnExpress)
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    Why do many early retirees return to work?