“So what do you do all day?”
This is a question I get all the time. Why? well because I’m not reporting to a boss each day. In fact, I’ve not had a boss for a few years now.
So do you then work for clients? No, not really.. actually, no. I have no clients.
So who do you work for? well, myself, sort of. At present, I choose when to work or not work.
Anyway, none of those answers seem to satisfy the question asker, and in fact are all just playing through my head.
The issue is that I have the optionality of working for fun. I don’t need an income because I worked hard to build up investments.
I usually just answer with a comment like, “I look at investments“, or if they’re not asking from a business point of view – like family or friends – then I usually answer with “dogs, family and home projects”. That’s code for, doing whatever I want, including just reading books, or sleeping in.
We also used to do a lot of travelling and exploring, but those plans are on hold for now. No use complaining over spilt milk.
But what do you actually do all day?
Well at the moment, despite having built up a decent net worth from my working days and living off the investments. Similar ideas/concerns apply to what Jacob wrote about at Early Retirement Extreme, the three biggest challenges post early retirement.
Post retired you need to come up with a new identity, his suggestion was to use the term Rentier, someone that earns money off property/assets without contributing to society. Or, also known as a Capitalist. Sounds flattering doesn’t it? Someone that earns without contributing to society. Think I’ll maybe still need a different term. Investor still sounds more valuable, the Capitalist one sounds a little parasitic.
The problem I’ve realised is not actually the title, but the perception of what you do all day. And that perception isn’t from the wealthy folks. They have the same disconnect between working and earning, in that they don’t need to work.
No, the issue of perception is from everyday folks. Your friends and family, your colleagues. They will ask what you do, and since you’re not working, you must be either:
- unemployed and looking for new work
- freelancing or contract work, but looking for more work
- starting your own business, and looking for clients
- sabbatical, but after 3-6 months, interviewing for new work.
Notice anything about the options? Yes, the current status doesn’t matter, but you’re hustling under all 4 situations to find work/clients.
So what happens when you tell them that, no, I’m not looking for work?
They get a glazed look on their faces. They either carry on telling you as though they didn’t hear you, or they quietly shuffle off, because you’re probably one of those lazy deadbeats and they wouldn’t want to talk to one like that.
Solution to the no work dilemma
So how do you resolve the question?
I have no shortage of projects, hobbies, investments, family, friends and short-term work to keep me busy. This problem is not a shortage of time-using activities.
My issue, is purely the identity and how to answer the question.
There are two ways that I’ve discovered what works.
- Get a highly visible project/website going that you can refer people to. There’s a reason that many FIRE folk have a website/blog – they can use this to write their thoughts, progress, projects, but also, if people ask, they can direct them to their site. The reason this works, is that many people asking are actually curious about what you do, and potentially will want exactly the same thing.
- Just say that you work on whatever you want. Just embrace the fact that not everyone is the same as you. You however picked this path and are clearly enjoying it. Who says that you need to become a miserable banker with lots of income, just so that people can envy you. That doesn’t make any sense? So just be you, and enjoy your life. Not everyone wants to be you, and some people will mock or argue with you even if you’re Warren Buffett. Just be happy with your own choices.
So that’s my answer. Get something highly visible for folks or just deal with it. It has nothing to do with how many hours you work, how much money you earn, it’s just whether it’s an understandable endeavor that others will relate to.
Anyway, time for another walk with my dogs and some fun after all this working.
Hahaha, this made me smile. I had never considered my FIRE blog might be so I have something to tell people that I do, but it makes totally makes sense!
You are spot on about the glazed look when someone asks you the inevitable question “And what do you do?” and the answer is “Nothing”, “As little as possible” or “Whatever I want” most immediately assume you can’t get a job or you’re a deadbeat living off the state or your wife.
At first it frustrated me and made me feel like I had to over explain to them why I don’t need to work (and inevitably sound like I was bragging even though I wasn’t), but now I actually quite enjoy it, I learn so much about someone from their reaction to my answer.
definitely – if you feel like you need to explain yourself, it only does two things. Makes them more confused or makes you feel bad. So instead it depends on the context, but for some people I’m a consultant, and for those that are open/interested in such things, I can talk about what we actually do!
That is a really good tip especially to those new to the blogosphere. Simple but very precise information… Many thanks for sharing this one. A must read article!