Retirement is a defined age correct? One day someone said to me “ you know that you can retire tomorrow.”
really was my answer He went on to say it is really only a matter of Cash Flow to finance your lifestyle.
What is retirement?
We have been programmed to accept that to accomplish retirement you need to work for x amount of years and then collect a passive revenue from a pension when you leave your employment .
In my working life that became an illusion.
Being employed by one company until retirement was not an optin or . None of th companies I worked for are the same as when I started. They all have closed or been bought out. Pensions plans became something that large corporation and government services offered.Creating a pension was a myth as sadly some of those companies pensions went away.
The money numbers changed
When I started to work, I could buy a modest house for 45000.00 on a salary of 25000.00 and a car for 6-7000 Now that house would cost 300000 and the car 25000-50000, but the salaries are still between $4000.00- $75000.00
Governments created plans like RRSPs in Canada and contributory pensions in the US and other countries like a 401k. The purpose was to create a living wage for not employment years.
Investing is another way but with ravages of the investment world thje reality saving as an investment or pension became almost impossible
I know that there are those who struggle every day to make ends meet. The reality is that group is much larger than what you would think. Whether you make 25000 per year or 1000000 per year, you can struggle because of the cost of living.
The reality today is that a “ retirement lifestyle “ seems to be an illusion. You could not cover all of your living expenses and provide enough
Do we work to live or to do we live to work
The reality for most people is they work to live to create a lifestyle. Hopefully, they create a job environment that is fulfilling that provides the means to live. They look at their future and expect to work long enough for some personal lifestyle options when they retire
I was given this advice. You need to have savings of 1-year salary about 50000.00 per year to weather any storms Also you should count on 4000 per month for living expenses in non-employment items
At that time to create 4000 / mo all you needed was 400000.00 in the bank @ 10% and it would work. Starting then from your 20’s that was doable.
But now the reality is you need 1.2 million to create the same cash flow at a interest rate of 4.5%. That is if you can find that consistent return in this market.Many retirees have seen the earning power of their pension been eroded lately
So a secondary lifestyle income that creates 1-5000 per month is actually equivalent to 1 Million Dollars in the bank
The requirements pf a lifestyle like housing, Food, medical needs transportation continue right through life but the cost of having risen dramatically.
The sad reality is that incomes have not kept pace. They are telling us now that the minimum wage should be 15.oo per hour 9 in Canada to meet the poverty line.
What is retirement to you
I was asked this question what would retirement mean to you. And all I could answer was what it was not.
I could answer was what retirement it was not.
It did not involve working at a job or being in business that i did not want work at for 35 years only to find there was not enough money to live my lifestyle on Month to Month
I was not going golfing every day or even sailing around the world. Maybe cruising might be an option
Retirement to me is more about Realigning life with the reality of income to fund time and money.
tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns
- To cause to form new arrangements or to have a new orientation;
The reality it seems to come back to Revenue creation. Creating income in such a way that it can be used to make my lifestyle choices. Retirement is not about age!
The business of your own
When the subject or income creation comes up, a business of your own is always brought in conversation.
The real truth is that many of us can’t just drop everything and immerse ourselves in our own business. Those of us that have had a business know it is not much different than working in a job.
The big difference is you have all of the extra issues that a business entails.
So the next idea is to create a second income, part time income.
Many do this now just look around at people. Do you know anyone who works on the side in areas like
- carpentry, plumbing,
- fix cars,
- sell home hobby, or other type products
- referee sports,
- Work part time in retail.
- Consult in their field
- The lists are endless
The lists are endless Why would do they do this?I suggest toward adding today to Cash flow.
These enterprising individuals are usually working at regular source of income and are supplementing
Ebiz is the new buzz word and why not. The Online world can offer many opportunities for any one who can harness the power of connection that the internet can provide.It can be a perfect opportunity for those who realize that if they want to realign their lifestyle,
An E-business can offer the flexibility of time and money.
It can start as simply as creating a demand for a product or service, and then marketing is online.
If you have an interest or passion chance are there is the way to create a home base online EBiziness with help.
You can check out my ebiz strategy. It can start you on the road of building the profitable business.
If you are happy working at what you do and are not uncomfortable with the end results of your personal lifestyle, then this article was not for you
If you are unhappy with your Personal long-term lifestyle options, no matter what your age you can look closer at changing the plan.
If you think an Ebiziness is an option, you will need to find some real expertise to help you through the maze of information.
I would suggest Wealthy Affiliates. This link is a review of their system and can answer the questions you may have.
The expertise for building an E-Business is available
The time to look at Realigning your lifestyle is now. I like associating with those you have the spirit to look at taking control of situations. Drop me a line if you are watching the future. Maybe you can be smiling too.