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What's Your Personal Definition of Retirement?

Defining Retirement

Defining Retirement

Retirement doesn't have to mean that we stop working altogether.

It can mean different things to different people, and some people take to retirement as a way to work towards what they are passionate about.

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What's Your Personal Definition of Retirement?

What's Your Personal Definition of Retirement?

https://thinksaveretire.com/define-retirement/

thinksaveretire.com

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Key Ideas

Defining Retirement

Retirement doesn't have to mean that we stop working altogether.

It can mean different things to different people, and some people take to retirement as a way to work towards what they are passionate about.

Reframing Retirement

Retirement can simply mean to maximize one's resources so that one can finally live life on one's own terms. It can mean continuing to work in projects that one finds interesting or fulfilling.

The core takeaway of all the personal definitions of retirement is Freedom. If one can do whatever is desired without worrying about resources or time, a fulfilled life ensues.

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Why Minimizing Your Life

What minimizing your life will bring you:

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  • More Time: Owning and doing things carry high costs. Doing less frees up your time to focus on the essential few.
  • Less Stress: No more overloaded schedules, running from one place to the next, always rushing.
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  • Freedom: things don’t own you anymore, you only own things you love. 

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We can reclaim our time and our attention. Unlike a physical space, we can wipe the slate clean in our digital environment.

If you clear apps from your phone, nothing will happen. You can always reinstall the ones you use.

Digital Declutter
  • Clear your browser history.
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* Studies reveal that social connection improves cardiovascular functioning, reduces susceptibility to inflammation and viral disease, sharpens cognition, reduces depression, lowers stress, and even slows biological aging.

Definition of friendship

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In short, friendship is creating bonded groups that act as a buffer against life's stresses.

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Bradberry and Kruse define leadership as a process of social influence which maximizes the efforts of others toward the achievement of a greater good. But even this definition is too narrow.

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It is called class. You can't buy it. If you find yourself with a friend like this, you can trust them and learn from the ways they look at life.

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Witnessing value exchanges with affluent family friends can also benefit you.

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Keep everything as simple as possible
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Don’t ever let your “future self”...
...take care of your current situation.

Your future self might have more income, but it’s also fairly likely that your future self might have less income and you’ll find yourself in a really bad situation. 

Even if your future self is doing well, there are probably going to be other big expenses that you’ll want to deal with at that time, like buying a house.

Focus on...
  • Building an emergency fund: set up an automatic weekly or monthly transfer from your checking account to your savings, then leave the savings alone until an emergency appears.
  • Eliminating high-interest debt: Set up a simple debt repayment plan by organizing your debts by interest rate, then attempt to make a double payment on whatever debt has the highest interest rate.
  • Saving for retirement: It will actually end up being a much smaller burden than you expect,  lifted up by the pleasure of knowing that you’re securing your retirement.

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Shifting our focus towards people and projects, rather than the time it takes for us to work on something is referred to as Attention Management.

Productivity is not a virtue, but just a means to an end, and it means nothing if the end is not worthy. Paying attention to your intrinsic motivation, on why you are excited about the project will make you push yourself naturally and achieve the goal.

Lack Of Distractions Promotes Productivity

Many studies show that bad weather days when it is too cold or rainy, keeps the working people glued to their work, being more productive as they are less distracted by the thought of going outside.

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