What caught my eye this week.
One factor that helped me by means of the worst of the pandemic was a newly-found love of South Korean ‘Okay Dramas’.
Like many others, I found these bingeable cleaning soap operas – with their healthful story traces and fairy story romances – to be great escapism.
What my 19-year outdated self – neck-deep in Dostoevsky and Pleasure Division – would make of my middle-aged dependancy, I’m embarrassed to consider.
Then once more maybe it’s simply two sides of the identical coin.
In these days I assumed there have been solutions to the human situation, ready for me to seek out them.
A lot older and perhaps very barely wiser – or maybe simply extra cowardly – I now suspect there are largely solely comforts.
Right here, there, and all over the place
Sufficient metaphysics, and on to some on-topic reflections on the newest Okay Drama to appease my days – the veritable rooster soup for the soul that’s Hometown Cha Cha Cha.
It’s nonetheless accessible on Netflix and you need to watch it. So I’ll attempt to keep away from spoilers.
Briefly it’s the story of high-flying dentist Yoon Hye-jin and her burgeoning relationship with the present’s different lead – an enormous fish in a small pond named Hong Du-sik, or ‘Chief Hong’ to all his neighbours.
Moreover making all real-life girls pale for me in comparison with the fantasy of Hye-jin (and there’s even a t-shirt suggesting many viewers really feel the identical about Chief Hong) Hometown Cha Cha Cha showcases another lifestyle. One which’s related to the best way we do enterprise round right here.
You see, from the second of her arrival within the small city the place Chief Hong plies his many trades, Hye-jin is astonished to seek out him at work all over the place.
Right here is Chief Hong directing fisherman on the docks. Now he’s over there on the espresso store pulling lattes. The doorbell rings – Chief Hong has deliveries. His different occupations embrace property agent, carpenter, and tech restore man.
Naturally, hilarity ensues. And there’s a deeper cause for all this plate juggling, too.
However as I mentioned, no spoilers.
Moe than his job’s price
Simply to generalise, Chief Hong is doing all this stuff as a result of he needs to help – and be supported by – the local people.
Hong expenses for all the things he does. However he solely ever expenses an hourly minimal wage. Hye-jin argues he may pull massive bucks within the capital, Seoul. However he prefers pulling espressos for his buddies by the seaside.
On his days off he surfs.
Once more dancing round revealing an excessive amount of, we will see Chief Hong as form of Barista FIRE. He seems to have inherited his grandfather’s residence (and to be honest what a house). Past that, the minimal wage – and countless funds in variety – hold him blissful.
Hye-jin can’t consider he’s not working for a prestigious chaebol making megabucks. Chief Hong is pissed off that she will be able to’t see why he doesn’t.
Much less ache, extra acquire
I like the new FIRE definitions – Coast FIRE, Barista FIRE, and so forth – that arrived within the more moderen years of what we now apparently should name a motion.
These new definitions neuter that outdated enemy, the ‘retirement police’.
So that you would possibly say “sure I’m monetary unbiased and I’ve retired from the rat race, however I’m Barista FIRE. I’m working on the pub as a result of I just like the social contact and the additional cream it places on my post-work cake”.
Or maybe you do some maths and see that so long as you let your ISAs and SIPP compound for 20 years, you’re already sorted. So that you shift to a Coast FIRE lifestyle, ambling in direction of the tip of your profession at your leisure.
Lots of the greatest voices on the Web on this matter transition to a type of two life after ending with formal work. Even our personal Accumulator, I’d (gingerly) argue.
TA would say he’s ‘Lean FIRE’. He has a pot of money that he calculates can get his family by means of the remainder of his days, albeit with out many fancy holidays.
However in apply he’s nonetheless doing paid work he likes. As a result of, effectively, he likes it, but in addition – I strongly suspect – as a result of it takes the sting of that Lean facet. So maybe he’s Barista FIRE, however a fatter FIRE than his Lean FIRE sums recommend.
Nonetheless, a rose by another identify and all that malarkey, proper?
You do it your method
Lengthy-time readers will know I’m a fan of doing some work forever. And I do imply paid work.
The testimonies of the legions of early retirement advocates who both return to work or do some form of aspect hustle reinforce my case for me.
Volunteer by all means. However I consider in our society as we discover it immediately, getting paid for doing one thing is about greater than cash.
I’ve at all times assumed work-with-FIRE ought to often contain maximizing your Pareto-power by doing all of your best-paid work within the least period of time.
However – name me gradual – Chief Hong has opened my eyes to a different method.
I ponder too if the federal government would have extra luck tempting the retired again to work in the event that they inspired them to look at Hometown Cha Cha Cha, versus fidgeting with the tax system.
Perhaps getting these over-50 dropouts to do exactly a few days per week part-time doesn’t go well with their diabolical financial plans?
I don’t know. However as we’ve mentioned earlier than, simply a little extra income is price an terrible lot, particularly in retirement. Making £10,000 a yr doing a few days of participating work per week just about doubles the state pension. It’s equal to maybe £250,000 further in your retirement pot.
I perceive taxes and allowances complicate the maths, however once more I feel that misses the purpose.
Sure, I do know wild horses wouldn’t drag a few of you again to something resembling work. Truthful sufficient, no matter is greatest for you is grand with me.
However not less than schedule Hometown Cha Cha Cha into one in all your countless days of leisure. You would possibly simply get a glimpse of what you’re lacking…
Have an excellent Easter weekend!
p.s. Sending my hyperlinks early forward of the lengthy weekend as The Accumulator and Mrs TA are visiting Monevator HQ for an in a single day keep. After all, typically we don’t even journey on the identical planes, as a way to keep away from a tragedy bringing down this weblog endlessly. Should you by no means hear from us once more, you realize that freak gasoline explosion you noticed within the information had our names on it…
The Sluggish and Regular passive portfolio replace: Q1 2023 – Monevator
From the archive-ator: My regulation of loopy massive numbers – Monevator
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World economic system set for weakest progress since 1990, says IMF boss – Guardian
King Charles banknotes printed – however not prepared but – BBC
UK corporations attempt to lure Gen Z employees with ‘early end Fridays’ – Guardian
Twitter is now not policing Russian or Chinese language state-backed media – Semafor
Have we reached peak inequality? – Prospect
Fintechs face reckoning over customer support [Search result] – FT
How one can pay in a cheque on-line along with your telephone – Be Clever With Your Cash
Open a SIPP with Interactive Investor and pay no SIPP charge for six months. Phrases apply – Interactive Investor
What’s a joint mortgage and the way does it work? – This Is Money
What it’s actually prefer to win a dream residence – Guardian
Which grocery store is at the moment the most cost effective? – Which
Properties with room to increase, in photos – Guardian
Remark and opinion
What Gillian Tett realized from three banking crises [Search result] – FT
Bracing for job loss – Humble Dollar
Will you’ve gotten ‘retirement remorse’? – RAD Reads
Over-confidence in investing – Best Interest
What if you happen to owned no US shares? – Meb Faber
There’s a lot to love a couple of bear market [US taxes but relevant] – Humble Dollar
Generational wealth and the angst of the not-rich-enough class – Financial Samurai
There’s precisely one good cause to purchase a home – The Atlantic via MSN
The lively administration delusion – CFA Institute
Every thing you may’t have [Podcast] – Morgan Housel
Fruition – Indeedably
One of many greatest errors in investing – A Wealth of Common Sense
Why this blogger offered her rental properties earlier than retiring early – Business Insider
Growing older in retirement mini-special
The actual secret to retirement happiness – Think Advisor
At this time’s outdated of us are set to smash by means of longevity information… – The Register
…although shorter life expectancy are giving UK pensions a windfall [Search result] – FT
Naughty nook: Lively antics
The ABC of noise merchants – Klement on Investing
ITV and The Funding Potential of Business Tv [Podcast] – through Apple
Are low cost European shares extra prone to revenue from disruptive tech than the Nasdaq? – Verdad
Kindle ebook bargains
Cooking on a Bootstrap by Jack Monroe – £0.99 on Kindle
Cash: A Consumer’s Information by Laura Whateley – £0.99 on Kindle
The Almighty Greenback by Dharshini David – £2.19 on Kindle
The Nowhere Workplace: Reinventing Work and the Office by Julie Hobsbawm – £0.99 on Kindle
‘Endlessly chemical compounds’ linked to infertility in girls, research reveals – Guardian
Gone to the canines – Hakai
Glaciers could soften even sooner than anticipated – Scientific American
Why is LED gentle so dangerous? – NY Mag
Robotic overlord roundup
Can we backtest an asset allocation mannequin in ChatGPT? – Quantpedia
Lastly, a climate-friendly garbage can – Slate
An interview with Sam Altman, the CEO of OpenAI [Video] – through YouTube
Why can’t we see the affect of automation within the economics statistics? – Uncharted Territories
The bottom is quaking – The Reformed Broker
Off our beat
You can be discriminated in opposition to – Contessa Capital
How Fox and Murdoch are destroying US democracy – Prospect
Be dignified, as a rule – Raptitude
The daughter who fled North Korea to seek out her mom – BBC
Laptop-generated range: style turns to digital fashions – Guardian
Your telephone is ruining your trip – Vox
“All that we now have to determine is what to do with the time that’s given us.”
– Gandalf, The Fellowship of the Rings