A few weeks ago, I heard Ric Edelman, one of my favorite financial advisors and radio hosts, introduce a radical concept:
FORGET ABOUT RETIREMENT
That’s right. Give it up.
Get used to the idea that your latter years won’t consist of daily sit down lunches at Long John Silver’s.
The whole day won’t be free to blow your retirement check in a smokey room of slot machines.
For many of us, there is no retirement. We’ll work until we’re physically unable to OR we die.
Assuming that’s reality, you’re either really bummed or liberated.
Now, I’m not telling you how you should feel about this news, BUT feel liberated.
Don’t worry about building a $3.8 million nest egg. You can stop obsessing over how much money you need in investable assets by August 2046. Because you, my dearest friend, will still be working.
Isn’t that great?!
Although you’re not excused from saving what you can, you’re encouraged to find a vocation you love – something you love so much the only way retirement happens is by force.
Think about what early retirement means. You’re so uninterested, so miserable in your current profession you’re counting down the years, months, weeks, days, hours, seconds to when you don’t have to do it anymore. That’s sad.
What if you don’t make it to early retirement?
You’d have wasted decades unfulfilled.
No longer do we work at the same company doing the same job for 30 years. We quit our jobs every few years. Change careers several times.
We dump our employers. Our employers dump us.
We take a year off. Shave our heads. Join cults.
We’re all over the place, man!
Pension plans are practically extinct.
Social Security is all but bankrupt.
I gotta tell ya. I’m excited!
I mean it.
If there’s a good chance you’ll work right up until you’re staring up the nostrils of your last breath, then you have every incentive in the world to find and monetize that which you love.
And you don’t have to pursue anything noble like feeding starving children in Africa or neutering poor people’s pets. If you couldn’t care less about hungry kids or poor folks, I won’t judge you. Just start pursuing your passion now if only on a part-time basis – if only on a volunteer basis.
Who knows? Maybe you’ll do what you love AND fatten your pockets more than you ever imagined.
Tell me I didn’t just set you free.
You don’t have to thank me now, but you’re welcome.