My personal feelings about retirement

My view of retirement is completely different from my parents.

There are so many beliefs that I hold that are completely opposite than my parents. My parents are conservative, I am liberal. They are counting on Social Security. I have no plans on relying on Social Security.

I do not believe that I will ever retire. Maybe it is a generational divide. Some people get pensions and nice salary bonuses and nice 401k matches. I work for a great company, but I am not relying on them for retirement income.

I am planning now at 30 for a retirement that I never really plan to take.

No job is reliable. There is no loyalty. Companies will let you go the instant they can afford to do without you. But there are also more companies than ever looking for great talent. So I would be completely fine if my company decided that they did not need me anymore. I am completely confident they are not going to let me go. I am a hard worker and am quite efficient at my position. But that does not mean that I will always be with this business.

People grow and change. And I think careers do as well.

When I worked for the Apple Store they actually encouraged employees at my store to go work for other businesses and then come back to work for Apple. The manager at my store came from Restoration Hardware. They hired an outside manager for the store over the more than 100 employees that had worked there for YEARS. But that is ok. That is their decision and they have right to run their business the way they see fit.

It just means that you have the game of society by its rules.

ALWAYS have that resume up to date. And always be working to improve your professional skills. Outside of work. Get more certifications. And more industry visibility. Post great content on social media like LinkedIn.

Writing and Speaking are universal skills that will always pay you dividends. Communication is vital for every industry.

If you can communicate with people above and below you, you can make the system work for you.

Say out loud what you want. Ask for everything you. You would be amazed at what you can get just by asking for it. I learned from hotels and airlines. If you just go up to the desk and ask for a better room or airplane seat they will generally give it to you if they have it.

I am planning for retirement now. What does that mean?

  • Putting a lot of money into my 401k, ROTH IRA, HSA, Stock account

The goal is to max those accounts accounts. While…

Buying/Creating/Obtaining assets that produce income.

If you have a hefty stream of monthly income than it really does not matter if your retire today or 30 years from now.

  • Real Estate
  • Businesses
  • Equities

These things provide regular income. Invest in assets.

I have changed my “profession” several times and I am only 30. As I get older, I get to know myself more. I know my interests more. I can tell what I am good at and what I am not good at. And I continue to evolve.

As I get older I get more skills and my business is growing. I refine my money making process better.

I am scared for life. I went through 2001, 2008 and now COVID-19. Disaster can happen at anytime and you need to be prepared. If you are capable at making money right now then you should do it, because you do not know if you will be able to make money tomorrow. You may get sick or injured.

The goal is passive income.

My favorite passive income: Dividends

You buy stock and then get paid for doing nothing. But you also need money to buy stock. That means you need to generate money in order to fund your stock purchases.

Technology has changed the game. You need to get really good with technology.

I have an Aunt who is furniture stylist for a major home furnishing company. She uses Pinterest everyday for her job. She has a website where she showcases her work. The has clients that she emails with back and forth everyday.

You need to become a master at technology. You can do it from home. You can do it at any age. You just have to do it. And it has never been easier. Software companies want you using their software. They will provide you with infinite resources to master their products if you have the desire.

I love travelling. I could totally see myself quitting my job and travelling the world for a year or 2. Or reading books all day. Or catching up on all the streaming programs that I never watch. I rarely watch TV and never have any idea what my friends are talking about when they talk about shows.

But I also have a fear of not being able to feed myself or have a roof over my head. The cost of housing has exploded since 2008 and it will continue to rise.

The classic retirement is a myth. I think people can and will have to have a combination retirement. They cut way back how much they work and then they will do a little bit of work on the side to bring in extra income. If not for healthcare alone. Health costs will only continue to rise.

Plan for retirement, but think about today.

How can you earn more income today? How can you create side/passive income?

What do you want your retirement to look like?

Begin with the end in mind.

Published by Collin Harness

Obsessed with creating value and helping people achieve financial independence.

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