Retirement — especially Social Security/Old Age Pension “retirement” — is the hula hoop of life goals:
It was a fad, and it was cheaply built so that it would break after a while.
That is: the program that was supposed to make it easy for you to finally not have to work… was designed never to work.
Here’s James Altucher, who is one of my favorite business writers:
I don’t care how much you set aside for your 401k. It’s over. The whole myth of savings is gone. Inflation will carve out the bulk of your 401k. And in order to cash in on that retirement plan you have to live for a really long time doing stuff you don’t like to do. And then suddenly you’re 80 and you’re living a reduced lifestyle in a cave and can barely keep warm at night.
The only retirement plan is to Choose Yourself. To start a business or a platform or a lifestyle where you can put big chunks of money away. Some people can say, “well, I’m just not an entrepreneur .”
This is not true. Everyone is an entrepreneur. The only skills you need to be an entrepreneur: an ability to fail, an ability to have ideas, to sell those ideas, to execute on those ideas, and to be persistent so even as you fail you learn and move onto the next adventure. Or be an entrepreneur at work. An “entre-ployee”. Take control of who you report to, what you do, what you create. Or start a business on the side. Deliver some value, any value, to any body, to somebody, and watch that value compound into a carer.
What is your other choice? To stay at a job where the boss is trying to keep you down, will eventually replace you, will pay you only enough for you to survive, will rotate between compliments and insults so you stay like a fish caught on the bait as he reels you in. Is that your best other choice? You and I have the same 24 hours each day. Is that how you will spend yours?