In recent years, friends of mine, as well as many folks online, have struggled in search of a term to describe this concept.
Many terms have been tossed about: “early retirement”, “pre-retirement”, “semi-retired”, “working part-time”, etc. None have really captured the exact meaning as well as “pretired” has.
If retirement is doing nothing, then pretirement is doing what you want to do. Obviously the term comes from shortening “pre-retirement”, not from combining “pre” and “tired”, although it feels that ways sometimes.
In practical terms, pretirement is about financial independence. If you want to keep working for enjoyment or extra money, that is your choice. But the important point is that it is a CHOICE.
There are two ways to reach pretirement:
One is to go out and make and then invest a large sum of money to such an extent that your passive income covers your monthly bills.
The other path is certainly to make and invest money to cover your bills, but it also includes cutting your overhead to bring that goal much closer. A slight variation is to cover MOST of your bills and then work a small amount or at something you don’t hate for the remainder. That, in turn, forces you to think about what’s really important in life.
So the goal is simple: enough passive income to cover my monthly expenses.
Certainly you could cut your expenses down to zero and enjoy homelessness. While that certainly has an upside of lots of freedom, here at Pretired.org I live in the real world and realize I do need certain comforts. But I also have found jettisoning many of these “things” cluttering my life makes me happier and I feel more free.
I am not pretired today, but am working on reaching this milestone as soon as possible. I’ve created this blog to help me clarify my thinking, work through challenging issues and if a handful of people find any of my struggles helpful, that’s all for the better.
And with that, I begin.