Financial tip of the day.com - FREEDOM THROUGH FINANCE
Social Sites
  • Financial Tip Of The Day
  • Books
  • Websites
  • Contact Us
  • Disclosure

Let me tell you why this is bad advice...

22/5/2014

0 Comments

 
Editor: Crass Cash
Picture
...FROM BEING INTERESTING!
Never retire?  Let me tell you why this is bad advice.  I first heard about this philosophy in high school when my girlfriend's mom gave me a book to read named, DIE BROKE.  The gist of the book was that you should work your entire life with no need to save money because you would work until you die.  As the book said, your last check should be written to the funeral home, and it should bounce.  Great tag line, but it's filled with unpracticality.  First of all the guy was a lawyer that had his own practice.  Therefore, he could keep working until his clients put him out to pasture.  Secondly, he's not in a profession where your body can fail you, vs how your mind can.  

I ran across a similar type of article today.  Now I'm not saying that you shouldn't work forever.  If you truly love your job or you want to stay mentally and physically active, then by all means go ahead.  Both of my grandfathers worked well beyond the years that they needed to.  One sold his business, retired for a week and then went to go work for the person that he sold it to for another 10 years.  His doctor told him that he probably just added another 10 years to his life.  He lived to be 96.  I think the doctor was right!  

I do agree with the article that continuing to work later into life does make you more mentally and physically sharp, along with boosting ones moral and psyche.  However, when you work into those later years, you need to do them on your own terms.  Working because you have to and working because you want to are two completely different mindsets!    

I've also never quite understood the idea that you basically go home and sit on the couch during retirement.  Maybe this is an old generation theory, but retirement doesn't have to nor should it be that way.  If anything it should be the opposite!  Your retirement should be filled with exhilaration!  Reading, learning, traveling, and working-out should thoroughly consume your time.  Have you seen the world?  Have you read all of the books?  Have you learned every language?  Are you in the best shape of your life??  Unless you're fucking superman the answer to all of these are no!  So how come you can't find enough to do??

So why do you think you should sit on the couch watching tv all day??  Now if you want to semi-retire doing what you love and then also devote 6 months of every year to the above activities than that sounds like heaven to me.  You should have a nice nest egg in case you can't work, and then you can use the money that you make for 6 months to do all of the above activities.  You have one life, LIVE IT!  
0 Comments



Leave a Reply.

    Author

    This website was created due to the atrociously misguided financial advice that I've heard over the decades.  Financial freedom is not intellectually strenuous, but it takes discipline. 

    RSS Feed

    Categories

    All
    BHAG UPDATE
    College Savings
    College Savings
    Credit
    Economics
    Estate Planning
    Estate Planning
    Financial Planning
    Financial Planning
    Insurance
    Investing
    INVESTMENT JOURNAL
    Mistakes
    Net Worth Update
    Retirement
    Tax
    Thrift

    Archives

    October 2017
    August 2017
    May 2017
    April 2017
    February 2017
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    January 2011

Powered by Create your own unique website with customizable templates.