Why "Retirement" Doesn't Work
Author: Tony Rush
There's a lot of talk in our country about the ability to
"retire". That's the Holy Grail for a lot of people, isn't
it? The ability to finally stop working...the finish line
of a 40-50 year career so that now they can finally sit
down and enjoy the fruits of their labor. Right?
Wrong.
The whole concept is flawed from the beginning. It's an
outdated concept from the early Industrial Revolution when
employers told laborers, "Hey, if you'll work for me for 40
hours a week for 40 years...then you can quit and get a
gold watch and a pension."
That plan hasn't worked since the 1950's. It probably
didn't work for your mom and dad and it's definitely not
going to work for you, either.
Here's the good news: it doesn't have to. I'm not saying
that you have to work 'til you die. I'm saying that the
concept of deferring your life's pleasures until you're 60+
years old is STUPID.
Consider Timothy Ferriss' perspective from his wonderful
book, "The Four Hour Workweek":
Retirement as a goal or final redemption is flawed for at
least three solid reasons:
1. It is predicated on the assumption that you dislike what
you're doing during the most physically capable years of
your life. [Tony's comments: This is already an impossible
situation. Nothing in the world can justify doing something
you dislike for 50+ years.)
2. Most people will never be able to retire and maintain
even a hotdogs-for-dinner standad of living. Even one
million dollars is chump change in a world where
traditional retirement could span 30 years and inflation
lowers your purchasing power 2-4% per year. The math
doesn't work. The golden years become a replay of
lower-middle-class. That's a pretty bittersweet ending,
isn't it?
3. And if the math DOES work, it means you are one
ambitious, hardworking machine. If that's the case, guess
what? One week into retirement, you'll be so damned bored
that you'll want to stick bicycle spokes into your eyes.
You'll probably look for a new job or start another
company. Kinda defeats the purpose of waiting, doesn't it?
So, what am I (and Ferriss) saying? That you shouldn't
aspire to have a life where you can relax and do as you
please? Not at all!
On the contrary, my point is that you should begin living
that life NOW. How much sense does it make to work hard for
40+ years so that -- when you're 60+ years old -- you can
finally start doing the things you want to do?
Life is not a dress rehearsal. Start living yours today
About the Author:
http://www.tonyrush.com or
http://milliondollarmindset.blogspot.com
"retire". That's the Holy Grail for a lot of people, isn't
it? The ability to finally stop working...the finish line
of a 40-50 year career so that now they can finally sit
down and enjoy the fruits of their labor. Right?
Wrong.
The whole concept is flawed from the beginning. It's an
outdated concept from the early Industrial Revolution when
employers told laborers, "Hey, if you'll work for me for 40
hours a week for 40 years...then you can quit and get a
gold watch and a pension."
That plan hasn't worked since the 1950's. It probably
didn't work for your mom and dad and it's definitely not
going to work for you, either.
Here's the good news: it doesn't have to. I'm not saying
that you have to work 'til you die. I'm saying that the
concept of deferring your life's pleasures until you're 60+
years old is STUPID.
Consider Timothy Ferriss' perspective from his wonderful
book, "The Four Hour Workweek":
Retirement as a goal or final redemption is flawed for at
least three solid reasons:
1. It is predicated on the assumption that you dislike what
you're doing during the most physically capable years of
your life. [Tony's comments: This is already an impossible
situation. Nothing in the world can justify doing something
you dislike for 50+ years.)
2. Most people will never be able to retire and maintain
even a hotdogs-for-dinner standad of living. Even one
million dollars is chump change in a world where
traditional retirement could span 30 years and inflation
lowers your purchasing power 2-4% per year. The math
doesn't work. The golden years become a replay of
lower-middle-class. That's a pretty bittersweet ending,
isn't it?
3. And if the math DOES work, it means you are one
ambitious, hardworking machine. If that's the case, guess
what? One week into retirement, you'll be so damned bored
that you'll want to stick bicycle spokes into your eyes.
You'll probably look for a new job or start another
company. Kinda defeats the purpose of waiting, doesn't it?
So, what am I (and Ferriss) saying? That you shouldn't
aspire to have a life where you can relax and do as you
please? Not at all!
On the contrary, my point is that you should begin living
that life NOW. How much sense does it make to work hard for
40+ years so that -- when you're 60+ years old -- you can
finally start doing the things you want to do?
Life is not a dress rehearsal. Start living yours today
About the Author:
http://www.tonyrush.com or
http://milliondollarmindset.blogspot.com
