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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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Con O’Leary: Killarney loses a vibrant and popular personality

Killarney Chamber of Tourism and Commerce has led the tributes to the late Con O’Leary, an extremely popular and very successful businessman in the town, who passed away in the […]

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Killarney Chamber of Tourism and Commerce has led the tributes to the late Con O’Leary, an extremely popular and very successful businessman in the town, who passed away in the early hours of Sunday.

Con was a vibrant and popular personality in Killarney where he operated The Laurels on Main Street, a thriving bar and restaurant, which he inherited following the passing of his father, Thado.
The business organisation said from a social perspective, The Laurels became the beating heart of the town and it was a landmark at the Market Cross in the same way as Clery’s clock was in the capital city.
Chamber said Con’s passing really marks the end of an era as he was one of a golden age of inspirational local business people who developed and built Killarney, through hard work, bravery and great commercial flair, and helped create the wonderful tourist attraction and holiday destination it is today.
“Con was very proud of Killarney and he played a very active part in progressing the town at many levels.
“He was a man that was never short of great ideas and his contribution to the business life of the town and as a director of Killarney Race Company was immense,” Chamber said.
“He was ahead of his time in many respects with the introduction by what became known as “the singing lounge” many years ago and The Laurels always led by example through its successes in the annual Killarney Looking Good competition”.
The business representative organisation noted that the O’Leary family has always been very supporting of the town and Con’s daughter, Kate, was a very dynamic Chamber President and is still a very valued member of the executive.
Chamber expressed deep sympathy to Con’s wife, Anne, children Kate, Niall, Tara and Lorna, sons-in-law, grandchildren, sisters, relatives and friends as well as the dedicated staff in The Laurels, past and present, who Con always had great time for and a great rapport with.

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All Roads Lead To Kerry For National Road Safety Conference

Kerry County Council is to host a two-day road safety conference at the INEC Killarney on May 28 and 29. The ‘Safer Roads’ road safety conference is an inter-agency event […]

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Kerry County Council is to host a two-day road safety conference at the INEC Killarney on May 28 and 29.

The ‘Safer Roads’ road safety conference is an inter-agency event focused on improving road safety, reducing traffic-related incidents, and sharing knowledge and best practices for safer road use. It encompasses various strategies and efforts across multiple domains, including road design, engineering, enforcement, forensic collision investigation, technology, education, collision trends, occupational driving, cycling and scooting, e-mobility, active & sustainable travel and on-road events.

In addition to this, AI, Virtual Reality and Driver Simulation will play a significant role at the conference, in improving safety by predicting and preventing accidents, optimizing traffic, and aiding the development of autonomous vehicles.

This ‘Safer Roads’ conference is a non-public event where road safety professionals, speakers and service providers from across Ireland, other EU countries and the UK will attend, including transportation experts, government and local authority officials, roads policing and vehicle inspection agencies, road safety advocates, educators and promoters, collision responders, cycling bodies and community safety networks.

Kerry County Council’s Road Safety Officer Declan Keogh said:
“Road safety has evolved over the years to a much broader scope, in terms of e-mobility, sustainability, technology and engineering for instance. It’s not just about the road or the vehicle anymore, but also about how technology, human behaviour, enforcement, and education intersect to reduce risks and prevent collisions. The ‘Safer Roads’ conference will involve and include every branch of the road safety tree, right across the board, and in doing so, we aim to increase road safety awareness, improve road user behaviour and decrease the collisions and carnage we see on our roads every day,”

The two-day conference also provides an opportunity for exhibitors to attend, and interested state bodies, businesses and service providers are invited to exhibit at the event to showcase their products and services and engage with delegates and officials at the conference.

Further information about the conference and how to register or exhibit can be found here. https://www.kerrycoco.ie/safer-roads-road-safety-conference/

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