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
Buy the Latte Retirement is a Lie - To learn more about this author, visit Chellie Campbell's Website.
Like this article? Share it with your friends
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
Buy the Latte Retirement is a Lie - To learn more about this author, visit Chellie Campbell's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
|
To learn more about the Evan Elite Author Program please contact us. |
 | |
|  |
Subscribe to Chellie's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
 |
||
 |
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To 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!
|
|
|
 Benefit From Analytics Business Coaching Winning Sales Letter Coaching System Double Digit Growth eguide |
|
 | ||
 |
The Top 10 GTD Times Posts
Best Posts for Productivity | |
 |
Top 50 SEO Posts - 2008
Top SEO Posts of the Year | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
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 and Sean Combs!
|
|
|
| ||||||||||
|
| ||||||||||
|
|
||||||||||