|
|
Like this article? PLEASE +1 it! |
|
Buy the Latte! Retirement is a Lie
|
| Guest post by: Chellie Campbell |
Article Overview: Here’s how to calculate the amount of money you’ll need at retirement: 1) Whatever you have now; plus 2) Ten million dollars. That sounds like enough to make you feel safe, right?....
![]() |
Free Download - Flying Without a Net By Chellie Campbell |
Buy the Latte! Retirement is a Lie
Buy the Latte! Retirement is a Lie
Here’s how to calculate the amount of money you’ll need at retirement: 1) Whatever you have now; plus 2) Ten million dollars.
That sounds like enough to make you feel safe, right? Financial advisors estimate that the percentage of Americans who can actually save enough money to afford a reasonable lifestyle for 25 years without working is about 3%.
Here’s the problem: over time, the retirement game has warped beyond any reasonable shape. It was invented in the 1930s along with Social Security, which set the retirement age at 65—because most people died at 63. It was only supposed to support the few people who lived beyond the average life expectancy for a few years. Now life expectance has risen to 78, so retirement should start at 80. Most people can save enough to last 5-10 years.
I spoke with a 50-something man the other day. He was burned out at his job and wanted to retire. But he was afraid. “I have enough money to last twenty years,” he said. “But if I live longer than that, it’s a problem.”
Living too long is a problem? No—the problem is working too hard and burning out. The problem is too much work and not enough vacation. The problem is not having work you love.
When was the last time you heard a movie star say, ‘I can’t wait until I have my pension funded so I can retire and stop making all these movies’? You never hear that. Because actors love their work. At ninety years old, they’re trying to convince insurance companies how healthy they are so that they can make a movie. They die onstage. They want to die working because they love their job.
The game of richest man in the world has been won already. Bill Gates is still working. The number two richest guy, Warren Buffet, just gave the number one guy all his money. He’s still going to work every day. The number three guy, Sheldon Adelson, is still working, too – he has a five-year plan in place to become the number one guy. He’s 83 years old! Why bother? you might ask.
Just for fun is the answer.
Find work that you love doing and you won’t want to retire from it. Retire to do what? Lie on the beach? For how many days would that be interesting? You only think you want to lie on the beach because you haven’t had a good vacation. So go to Hawaii or Cabo or the Caribbean or someone’s backyard in Malibu now.
And enjoy a latte on the beach while you’re at it.
Chellie Campbell
Author, The Wealthy Spirit and Zero to Zillionaire
Article Tags: 10 years, 1930s, amount of money, average life expectancy, bill gates, enough money, financial advisors, five year plan, guy sheldon, insurance companies, million dollars, movie star, retirement age, retirement game, richest man in the world, sheldon adelson, social security, twenty years, warren buffet, when was the last time
|
About the Author: Chellie Campbell RSS for Chellie's articles - Visit Chellie's website Chellie Campbell is the creator of the popular Financial Stress Reduction® Workshops, and the author of The Wealthy Spirit and Zero to Zillionaire, both published by Sourcebooks, Inc. She is one of Marci Shimoff's “Happy 100” in her current NYT bestseller Happy for No Reason and contributed stories to Jack Canfield’s recent books You’ve Got to Read This Book! and Life Lessons from Chicken Soup for the Soul. She is prominently quoted as a financial expert in The Los Angeles Times, Pink, Good Housekeeping, Lifetime, Essence, Woman’s World and more than 35 popular books. For more information, visit her web site www.Chellie.com or email her at Chellie@Chellie.com. Follow Chellie on Twitter http://twitter.com/ChellieCampbell Click here to visit Chellie's website Work Hours 10 Tips to Win in 2010 Party Networking or Are You George Golden Tennis Shoes Send Out Ships |
Related Forum Posts
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Web Design in 30 Minutes - Can this be Right?
Five keys to business success
Top Ten Home-Based Businesses
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.



