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I Never Want to Retire

A lot of the personal finance advice found on the 'net is geared towards one common goal: Retirement. In many cases more specifically, Early Retirement. Mostly this consists of maxing out IRAs and 401(k)s and amassing enough wealth in mutual funds to live off a percentage ( commonly 4% per year)of the nest egg.

This method makes some morbid assumptions. For one, you will have to die in X number of years. Now it IS possible to only "touch the interest." However, you will have a very restricted budget and inflation will still eat away at the principle. Being strict with a budget and investing wisely will allow many to outlive their money ( or in the case of many planners, die broke). However, there are many variables that can't be controlled, such as future inflation, health care, and tax policy. I am not too worried about this aspect. If I had a couple mil in the bank, I would feel comfortable taking early retirement. But why would I WANT to?

There is ( mostly) only ONE reason: You have a JOB/career that you absolutely HATE. You work only for the sake of working while looking forward to eventually retiring on a fixed income.

In My Humble Opinion, if you are a "general-specific" skilled person who uses his intellect and takes advantage of modern technology- you can earn a living doing something that you ENJOY that is not physically taxing. Personally I do things that I would enjoy doing even if I were not making any money to do so. Technology will change, but I could easily see myself still tinkering with the same type of things when I am 80 years old. Of course I could come down with Alzheimers or Dementia at some point in my life, but there is still a small risk. I will probably be able to do enjoyable productive work my entire life.

This is because most modern production is not dependent on PHYSICAL LABOR. I have 2 uncles who REALLY can't wait to retire. They make great money and have awesome benefits. But Their BODIES are wearing down. One climbs up poles and works in trenches. The other works in extreme heat and has to crouch, stoop, and crawl on the job. They can't wait to reach the age/time on job required for full Pension.

Me? I don't want no stinkin pension and I never plan on joining a trade union. I don't care about Social Security either.

Retirement is basically INSURANCE against your body breaking down and becoming occupationally incapacitated. Don't get me wrong. I will take advantage of this insurance in the form of IRAs, 401(k)s, disability coverage- or whatever is offered to me. However, being incapable of productive work is not a GOAL of mine.

I would rather enjoy the PRESENT while also planning to keep active until my mind no longer functions. There are many alternatives, like:

Being Self-Employed and take many vacations

Take "mini-retirements" in between jobs. ( Get laidoff? Take your severance and relax for a few months)

Telecommute and work efficiently. Get more stuff done in less time and enjoy the rest.

Be an Entrepreneur and work on many different projects in your lifetime. Gone are the days of working for one company doing one thing for 30-40 years. You may never do one thing for more than 3-5 years. That's fine and it could be lots of fun.