Both men left their primary careers while in their late-fifties: John as a police captain, and Larry as a middle manager in a major corporation. After leaving the force, John took a position as the harbormaster in his town, while Larry continued to work as an independent consultant for the company he left. They have the same amount of savings and assets, live the same lifestyles, and are the same age.
Despite their similarities, they have very different perspectives on where they’re at in the life cycle. Larry adamantly describes himself as retired, and John just as adamantly insists he is still working and is not yet retired. In their new jobs, both work the same number of hours as in their original careers. In fact, Larry the retired consultant averages more working hours per week than John the working harbormaster.
In helping me come to terms with all this, Larry explained that his decision to work was voluntary. He chooses the hours and days he works, and he could stop working whenever he would like. John, in contrast, believes he needs his job, and so has to do the tasks and put in the time required just like any other employee. Both appreciate the added income, but John feels he needs the extra money to support his lifestyle; Larry doesn’t feel that need, since he is comfortable with his finances.