I’ll also write here about my own experiences after a year of living like a baron. I’ve read others’ stories with interest and strongly relate to them.
I am a 40+ family man in the Helsinki metropolitan area; my family includes several school-aged children, a wife who is pursuing her own career, and a young, slightly silly dog.
I had tremendous luck in my career: I worked for over 20 years, more than 10 of which as a partner in a company that was doing exceptionally well financially. Dividends corresponding to my work contribution (and much more) landed in my holding company’s account annually. The work was truly interesting and engrossing, but the work community was such that only golden handcuffs kept me there. Expertise, capital, and a network (in a positive sense) developed almost by accident. Many years, right around this time of year after the Christmas holiday ended, I wrestled with myself about whether it was worth it, and I always concluded that by continuing for another year, my wealth would grow significantly enough that it was still worth pushing on. Now I just laugh when the Sunday blues at the end of the weekend or the end of holidays have disappeared.
A year ago, I then left my job and partnership. This was tremendous good fortune for me. I was on the brink of something new, my finances were secure, and I felt like I did during my matriculation spring 25 years earlier: I didn’t know exactly what the future would bring, but at the same time, I had a feeling that whatever lay ahead, things would turn out well.
I received advice from many people in the same situation: don’t rush into anything new. And this advice has proven valuable. Over the year, it has become clear that I will no longer take on any full-time work. My original plan has solidified: I manage my own investment portfolio through my holding company, which served as a piggy bank during my working years and for which I previously didn’t have the energy to dedicate much of my scarce free time. I selectively take on a few advisor/board roles, and the rest of the time, I do as I please: I participate in my children’s hobbies, national defense, and volunteer work. These last three, in particular, have been truly rewarding, as they were the ones I previously compromised on the most. Of course, I’ve had as much time as I want for my own beloved hobbies, from physical exercise to reading.
Household chores and driving children have always been shared with my wife. My wife has been pursuing her own career all along, but for the past few years, she worked a shorter week (but still, in my opinion, at least as much as I did). Now, after last summer, it was possible for her to take back a full work week.
As I write this, the text feels truly elitist (let that be allowed, as the thread’s topic is the life of a baron). Honestly, however, I admit that I’ve had tremendous good fortune in my career. In another period of working life, economic growth and interest rates would not have brought such windfall profits into my career as happened to me along the way.
After a year of living like a baron, it certainly feels good, and I don’t miss many things about working life. What I do miss is almost trivial, like printer paper today when I needed to print a form for my child’s school
Friendships with the most important people have been maintained, and as time has freed up, new ones have emerged from other circles.
Sometimes it feels a bit awkward to explain what I do when I’m not working, but this is apparently quite a Finnish thing: my university friend living in Switzerland understood with half a word and said that there, this situation is socially accepted in a completely different way, and one doesn’t need to explain or justify living like a baron at all.
Thank you again for allowing me to read others’ experiences. I hope these thoughts of mine provide similar support and benefit to others! I’m happy to answer questions if any come to mind while reading.