This as-told-to essay is based on a conversation with Misty Miller, 67, who retired early but returned to work due to financial concerns. A few years after returning to work, she retired again after a mindset change. This interview has been edited for clarity.
I’m doing much better than I ever thought I would. I feel lively and happy, and my mind is clear. I don’t have to worry about many things.
I submitted my retirement paperwork in 2017 and had $500,000 saved. I worked my way up to become a staff services manager for the California Housing Finance Agency. I thought I could retire in my late 50s after paying off my mortgage and putting as much as I could into my 401(k).
I thought retirement was my biggest mistake. I missed having a sense of purpose, and I overspent. I was terrified that within two or three years into retirement, I would be broke, that my money wouldn’t last, and that I’d live to be 100. About 75% of my medical expenses were covered, but I still had to pay out of pocket.
I was house-rich and cash-poor, and inflation had torn apart my income
When I retired, I had moved from a cozy small house downtown, which was costing me about $800 a month for everything, to a $2,600-a-month house that was double the size on a 1,700-square-foot lot. This house is so much nicer, but it comes with a bigger AC and heating bill, and I’ve hired a gardener who has charged $280 a month, up from $70 at first. I live in the Sacramento metropolitan area.
I had asked for my old job back because of my higher expenses, but they had hired somebody else. I got a job at a local newspaper and looked for other employment. In 2019, I got a job at the California Department of Consumer Affairs and then switched to the Secretary of State’s office. I became a supervisor in February 2023 at 63.
“People say they have to go to work. I say I get to go to work,” I said in 2024. “I plan to never retire.”
Misty Miller
At first, I thought returning to work was very satisfying. I accumulated about $88,000 in my Roth IRA. I was in a much better situation financially and felt safer. However, I found myself getting more tired all the time. At the end of the day, I didn’t have any energy for anything, and I couldn’t figure out why not. I had to supervise people and sometimes had to work extra hours. The drive to work wasn’t very pleasant.
There were plenty of perks. The office was very comfortable. I had my own space and a good team of people working for me.
Work was taking so much out of me, though, more than I would have expected. The doctors never found anything wrong with me. My blood tests were always perfect. My cholesterol and blood pressure were low. I had cut out headache and digestion pills during my break.
I decided at the beginning of April to use some of my leave credits to see how I’d feel if I weren’t working. As it turned out, I felt so much better and livelier. I wanted to retire this time. I wasn’t tossing and turning anymore, and I wasn’t getting angry.
As soon as I stopped working, all these issues disappeared. I felt almost ripped off by the health system because nobody ever really took the time to figure out what was going on with me mentally.
I was thinking about how every day I got older, it was one day closer to death
Over the three and a half years I was there, the amount in my pension check grew considerably. It was a few thousand dollars more. I qualified for 95% free medical care. I calculated that there was still room for prices to rise, and I’d still be covered with money left over at the end of the month.
There were some changes happening at work that I wasn’t too happy about. My reviews were glowing, and I was a really good employee. I was on time every day and often came in early and stayed late, so I couldn’t understand what was happening.
I thought I should work another year and make my pension check a bit higher, but I decided it wouldn’t be necessary. On the back of an envelope, I wrote down every expense I have and figured out how much I’d need to bring home every month. I looked at every detail and threw an extra couple of hundred dollars just in case I missed something. I figured I would wait on applying for Social Security to get a bigger check down the line.
Misty Miller
I also calculated that I wouldn’t be taking trips around the world, as I’m very comfortable hanging right here. My stocks have done super well, and I follow the Warren Buffett method of 90% stocks and 10% cash investments. I’m sitting in my lounge chair and making money. I don’t have to get dressed, go to the office, or talk to anybody.
I also adjusted some of my behaviors. I cut down on my credit card expenses because I would previously go on Amazon and say, “I need this.” I decided I don’t need any of that stuff. I don’t need two pairs of shoes. If I didn’t need to go into the office, I wouldn’t have to pay for dry cleaning or transportation as frequently.
I determined that I have much more money than I need right now
I decided not to go back. I feel so much happier. I can go out ballroom dancing whenever I want. We’ve been going out to see jazz shows every week. My husband has taken dance lessons, and we go out once a week to a ballroom. I’ve met lots of new friends through dancing and reconnected with people from my 30s when I first took lessons.
My family lives in Los Angeles, and my niece has a baby girl who is two. She’s going to have another baby girl in October, and I want to see them. I’ve been wanting to hang out more with my family since my dad died in 2024. I also have two sisters in LA, as well as my mother.
I have also decided to write a children’s book for the Nancy Drew crowd. The book is narrated from a cat’s standpoint. The cat lives with her owner in Chicago, and the owner recently moved from a big suburban house into a tiny apartment, which happened to my family. The owner decided to go to California for college and couldn’t bring the cat with them. The cat got kicked out of the house and met other cats, and the cat takes a trip to California to try to find the owner.
I still probably don’t have enough to pay for long-term care between my pension check and the cash I’ve accumulated, but my husband and I have already discussed that we wouldn’t want to go to a facility somewhere. We want to live in the house where it’s comfortable and maybe have someone come in to assist if that’s what’s needed. I never bought long-term care insurance. I’m hoping to be as active as possible and keep my mind sharp.
