The complainers of this world keep talking how hard it is to make it financially in this world and the lack of opportunity today to create a great retirement income.These are the same people, including at least 25 percent of baby boomers in the U.S. and Canada, who are going to be broke in their retirement, living at the poverty line from Government handouts.
That is a total of 22 million baby boomers by the way. Generation X and Generation Y won't fare any better.
Yet there is incredible opportunity in this world regardless of the economy.
If you are looking for a retirement job that can pay off big time, I invite you to read this blog post about a guy who can't move any of his body from the neck down who is making a great living.
A Great Retirement Job: How to Quit Your Job, Move to Paradise and Get Paid to Change the World
Fact is, I think that most people have a lot of control of when and where they retire.
All they have to do is take 100 percent responsibility for their lives — 98 percent or 99 percent is far too little!
Taking 100 responsibility means not counting on the government or anyone else for your retirement income.
The key is to save 30 to 50 percent of your income when you make a good income instead of spending it on crap like most people do.
I didn't start saving for my retirement until I was in my early forties and I will be okay in retirement. The reason is that I saved 40 to 50 percent of my pretax income.
Here are the two major reasons a lot of British, Canadian, and American retirees don't have enough money for retirement:
- Instant gratification takes too long.
- A necessity is any luxury the neighbor happens to have.
Here are some money quotes to help you with your retirement plans:
- Like the truth, retirement can set you free. Or, like work, retirement can imprison you.
— from How to Retire Happy, Wild, and Free
Planning not to retire is simply not a viable retirement strategy.
— Catherine Collinson, president of the Transamerica Center for Retirement Studies
If we wait until retirement to enjoy ourselves, there may not be enough of ourselves to enjoy it.
— Mike Hammar
Money is easy to handle;
There are two secrets:
The first is spend less than you make.
If this doesn't work for you, then the second one is definitely for you:
Make more than you spend.
That's all there is to handling money.
— from Life's Secret Handbook
I retired early for health reasons — my company was sick of me and I was sick of them.
— Unknown wise person
Being 54, I seriously doubt I'll ever be able to fully retire. It would probably kill me anyway sitting around the house watching the grass grow. Am not saying that I plan on working 40 hours per week until I drop, however, I would rather work 25 hours per week starting at 60 and working til 65, then 20 hours until 70 and 15 per week after that. That way I can enjoy retirement earlier and longer. Besides, the government will figure out a way to wipe out my retirement accounts long before
they put me in the ground .... either that or some quack doctor.
— "Catbluize" (pen name for a person commenting on an article about "Don’t let fear ruin your retirement Retirees’ financial worries hinder them from taking action"
I’m retired. You on the other hand have to go to work.
— Unknown wise person
The money’s no better in retirement but the hours are!
— Unknown wise person
- Dear Ernie,
Just a note to tell you that you are a real inspiration.
Instead of teaching summer school, from 9am to 3 pm lab every day, plus evening grading, but extra pay, I have opted for a rest. I must personally thank you for it.
I have rested, I go to the swimming pool, I enjoy the food I cook, I sleep in late, I watch TV shows I like. I decided not to spend any money whatsoever on stupid things, and so far I am OK.
Thanks again for all the wisdom you impart on us.
Vera:
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