Being a financial planner, I create retirement plans for my clients every week. I speak with them to know about their goals, their dreams and their fears about retirement. We look at where they are right now and how they can achieve their financial goals for the next 10, 20, 30 years.
Having money to realize your dream is a prerequisite. Money doesn’t buy happiness? Well let me tell you that if you have some, you will surely be able to buy a few happiness coupons here and there ;-).
All these discussions got me thinking about my own retirement. Having started working 4 days a week at the age of 28, I now make the joke that I will be retiring at 35… This is actually the foundation of our online company: becoming millionaires by age 35. While this is a huge challenge (huge is actually a small word 😉 ), I think it is important to have dreams if you want to achieve something in life!
If retiring means not working, going down south and drinking Strawberry Daiquiris all day, I will not retire at 35. However, I have discovered through discussions with my clients that retiring doesn’t necessarily mean to stop working. It means the end of being forced to do something.
Most of my clients are wealthy and they intend to work until they are 65 or even older. While several of them could afford to retire at the age of 55 (yup, freedom 55 still exists!), they want to work. The only difference is that they will do what they really want most. Many of them have side projects or new careers in mind. This is what brings me to my definition of retirement.
– Not having a boss looking over my shoulder. Being financially independent and be able to make my own decisions.
– Working but not all day, everyday, week in, week out. If I can work 20-30 hours a week, I’ll consider myself as retired.
– Doing what I want. I don’t mind working on my stuff since it doesn’t feel like working. It’s like being paid to do a hobby. While I would love to be paid to golf or to play with my kids, I still have to find something that will actually bring home the bacon ;-).
– Definitely quitting the 9 to 5 job. I am already not doing the 9 to 5 every day, so I just don’t want to do it anymore ;-).
– Spending more time with my wife and children. Life is too short to not spend quality time with the ones you love!
– Be able to work around the world. My online company provides me this option, I can work anywhere in the world as long as I have a functional laptop and a reliable internet connection.
I don’t really see retirement as not working at all, waking up at 9 or 10 am every day and wandering around all day… this must be quite depressing!
In the end, I guess that I am not looking too much toward retiring young but more towards financial independence!
I would like to know if you aspire to Freedom 55? Or if you think that you will never retire? Do you have any projects for your retirement?
image source: kevin dooley
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