What Is a Happy Retirement?

happy retirementI read several blogs about early retirement and low cost retirement.

And it always gets me to thinking…I don’t want to retire again…ever. 

Sure I may cut back on how much I do sometime or I might change my business models at times to keep the fun and excitement going, but I have no desire to ever retire again from my business.

I did it once…and found out it wasn’t all it was cracked up to be.  Full retirement is boring, because we need to be active and providing value.  Or else we lose out on the fulfillment that comes from LIFE. 

Now if I was working a horrible 9 to 5 job, and suffering from all the corporate shenanigans I’m sure I’d feel differently about this.  If I had someone demanding I work 50 hours week or the like, then I KNOW I’d feel like that was the only way. 

But I’m not in that situation.

Imagine giving 40 plus years of your life to a job you hate, all the time thinking about and planning for your retirement years.  The concept itself makes me sad! 

The years when you’re the strongest and have the most energy are invested in a job you don’t enjoy just to get to the mystical point in the future where you can retire and finally “Do what you want.”

It reminds of a story people tell about Jonathan Mizel early in his online career. 

A coach asked Jonathan what he wanted to get out of their conversations.  Jonathan said he wanted to get rich. The coach asked him what he meant by rich, and Jonathan said he wanted to make a million dollars. The coach asked him, “What would you do if you had a million dollars right now?”

Jonathan thought for a second and said “I’d go fishing!”

To which the coach replied, “Jon, you don’t need a million dollars to go fishing.”

I don’t know if those are the words used or if that is exactly what happened.  I was there. 

What is important here is simply the message.  Don’t put off all your enjoyment to some future day. 

Build a life you love…TODAY. 

This is where books like the 4 Hour Workweek have been so beneficial to people.  While I don’t agree with all the methods Tim Ferris uses and recommends in the book, this has brought a message people need to hear.

For example just because it was legal for him to win the kickboxing competition by pushing people out of the ring doesn’t mean it’s something to be proud of…and I doubt he almost ever works only a four hour week (his interviews likely take more time than this alone).

This brings me back around to why do I subscribe to the early retirement blogs if I don’t believe in retirement?

It’s because they also have a message which generallycenters around having a low cost lifestyle.

And I’ve seen this issue with many people trying to start internet businesses.  Remember how when I started I was working as a pizza delivery driver and was in debt of over $50,000 (van payment + credit cards)?  That isn’t a whole lot of income to replace starting out.  It didn’t take much.

I’ve coached people who were already earning $10,000+ a month online…and told me if they didn’t increase their income soon they would have to go back to their day job.

WHAT?

I’ve coached people earning considerably more than this…and I’ve coached people earning considerably less than this.

I guess it’s because I don’t own a mansion or borrow for cars, but I couldn’t imagine being the position I had to have that much coming in monthly to make it…OR even finding a job to go back to that earned a lot more than that.

It’s a little of a different mindset.  While we are all consumers (buying products from companies for our lives), we should focus our attention on being producers (meaning our main enjoyment comes from what value we produce for others).

If you LOVE what you do…it lowers the consumpson and expense from other areas of your life.

We all want and need money to survive and thrive.  There’s no going around that issue.  But by dropping the expenses of your life, you’ll enable yourself the FREEDOM to do more of what you love.

This isn’t a subject I cover a lot around here, but it is something to think about.

Let’s say you work a job you don’t enjoy (for whatever reason).  And let’s say it’s a  job earning you $4,000 a month gross before taxes (the median “household” income in the US is $46,326), so you’re right near the median. 

We need to get you to a CONSISTENT net of $4,000 after business expenses and before taxes to keep the same level of income when you “retire” off your job (we could make it more complicated by doing the  math for additional tax savings of having a business or the drop in commuting but let’s keep it simple).

But what if you were to reduce your living expenses at least for a time to where you could live off around $3,000 of your income?  That means you could retire from the job portion of your life sooner.

And the retirement from job means MORE attention can be focused on the online portion of your income.  This will boost your growth. 

Having a lifestyle that maxes out your income puts freedom out of your reach. 

Find ways to drop your living expenses…and you’ll find your online business much more satisfying (because you’re never tied to one essential way of doing business).

On the internet side of things, if you want to learn how to make more money in your online business (or at least start making some), I recommend you meet me at Mark Hendrick’s upcoming seminar in Orlando.  I hope to see you there…

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About The Author

Terry Dean

Terry Dean has been in full-time internet business since 1996 and has helped thousands of entrepreneurs get started online through his articles and products. He lives in Dunnellon, Florida with his wife and 2 dogs. Find out more about how the Monthly Mentor Club can help you today.