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Retirement isn’t the answer

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By Michael O’Connor, theislandinvestor.com

Financial Independence/Retire Early (FIRE), is an incredibly popular movement in Ireland.

The idea is that we should seek financial independence by maximising our savings and living well below our means.

These savings are then invested in low cost diversified index funds until you have accumulated a sufficient pool of money that allows you to retire early. I may be brushing over some of the details - but you get the gist.

I’m all for financial independence, it’s a huge part of what I do. It’s the second half that I’m not really on board with yet.

Early retirement

Every person I know, be it my parents, my friend's parents or my extended family members have either struggled with retirement or given up on it completely and gone back to work. We are seeing a growing trend of people ‘un-retiring’.

This trend doesn’t surprise me.

We seem to underestimate the loss of purpose that comes with retirement. A huge part of your life is suddenly ripped out and you’re just left with an empty cavity while those who once depended on you, move on seamlessly.

Mentally that can’t be easy.

You’ve undoubtedly lost a sense of self.

“I won’t be worrying about all that, I’ll be too busy holidaying and playing golf”.

Sure, there is the initial honeymoon period but think past that. Spending your days filling time just to fill time is sure to get old pretty quickly.

The general response to this one is; “Oh but I will have the freedom to do whatever I want”.

But why are you waiting until retirement to pursue ‘whatever you want’?

Don’t get me wrong, I’m not suggesting people should work until they drop (literally), but trading your 40 healthiest years to a corporation in exchange for 20 years of freedom when your body is breakdown isn’t ideal.

Surely there is a balance

Why can’t we prioritise our hobbies in the best 40 years while working a bit less instead of working non-stop and then coming to an abrupt halt.

Why can’t we operate on a glide path system into retirement where you can work less, but still offer your skills and earn an income into old age.

As Michael O’Leary said "It’s better to wear out than rust out".

Granted this is a pretty idealistic view but there is surely another options besides making retirement your ultimate financial goal.

This whole rushing to the finish line idea just seems flawed to me.

Living on the breadline for years just so you ‘put your feet up’ a year or two earlier isn’t a financial plan.

You’re simply forgoing comfort now for perceived comfort in the future.

Make sure the sacrifices you are making are worth the trade-off.

Like most things in life, you need to find the balance.

*Come back to me on this one when I’m 55 and my future kids have squeezed me for every bit of energy and money I have. I’ll likely have a completely different take.

Join the one thousand plus subscribers learning to invest by scanning the QR code or go to www.theislandinvestor.com.

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New private children’s assessment clinic confirmed for Killarney town centre

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The consultant psychiatrist who blew the whistle on the South Kerry CAMHS scandal, Dr Maya Sharma, is officially opening a new private children’s assessment clinic in Killarney town centre.


The development follows reports in the Killarney Advertiser in May that Dr Sharma was seeking a return to Kerry.

The clinic is now confirmed to open within the next two months after suitable town centre premises were successfully secured.

The facility will provide a range of specialist assessment services for children, giving local families an alternative option within the county to bypass long public waiting lists.


Dr Sharma previously exposed the over-medication and inappropriate treatment of young patients within the South Kerry Child and Adolescent Mental Health Services.

Her disclosures led to a major state investigation which revealed hundreds of vulnerable children had been harmed or put at risk by unsafe clinical practices.


Councillor Martin Grady, who assisted in finding the town centre location, welcomed the finalisation of the plans and praised Dr Sharma’s bravery and dedication.


“I am absolutely delighted that we were able to work together to secure suitable premises for Dr Sharma here in Killarney,” Cllr Grady said. “She is a tremendous asset to our town and to County Kerry. The work she has carried out over the years has made a real difference to so many children and families. Personally, I want to sincerely thank Dr Sharma for her bravery and honesty in coming forward and speaking the truth for the betterment and protection of vulnerable young people receiving treatment. Her actions required immense courage, and many families throughout Kerry and beyond recognise the importance of what she did.”


Cllr Grady noted that Dr Sharma has a strong personal connection to the area, particularly her love for the local National Park, and is eager to begin practicing in Killarney again.


“There are massive waiting times for children requiring assessments through the public system,” Cllr Grady added. “While this private clinic won’t replace public services, it will provide families with another option and will greatly increase local capacity. We are fortunate to have someone of Dr Sharma’s calibre choosing to establish her practice here.”

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St Mary’s Church hosts John McCormack tribute


A musical recital celebrating the legacy of Irish tenor John McCormack took place at St Mary’s Church of Ireland on Friday last, July 3.


The event featured Kerry tenor Gavan Ring, who was joined on stage by pianist Gary Beecher and violinist Kenneth Rice.


The trio performed a programme of songs, operatic pieces, and transatlantic melodies associated with McCormack’s international career and his influence on Irish-American identity.
A key element of the performance included a dedicated tribute to the historic musical partnership between McCormack and violin virtuoso Fritz Kreisler.


The concert was held as part of the new ‘Summer in Killarney’ festival, a cultural series marking 250 years of Irish contributions to American culture.

The festival is presented by the Killarney Chamber of Tourism and Commerce, with support from the NPWS, Heineken 0.0, Fáilte Ireland, and Kerry County Council’s Community Support Fund.

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