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What's Your Personal Definition of Retirement?

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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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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Four Steps To Building Wealth
Four Steps To Building Wealth
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Benjamin Graham - Warren Buffett’s mentor
Benjamin Graham - Warren Buffett’s mentor

“Money isn’t making that much difference in how you and I live. We’re both going down to the cafeteria for lunch and working every day and having a good time. So don’t worry about money, because it won’t make much difference in how you live.”

Minimalizing Your Life

To minimize your life is choosing to live by design, not by default. You decide where to allocate your time, focus, and efforts.

Socrates
Socrates
“The secret of happiness, you see, is not found in seeking more, but in developing the capacity to enjoy less.”
Why Minimizing Your Life

What minimizing your life will bring you:

  • More Efficiency: You finally have enough time to do what’s truly important.
  • 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.
  • Better Health: having and doing less calms your mind and brings clarity.
  • Freedom: things don’t own you anymore, you only own things you love. 

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Your point-of-view

Your point-of-view about money can be skewed. Thoughts can include:

  • You have to spend money to make money.
  • You need to make money to be rich.
  • ...
Rich people 

Rich people are not all obsessed with money. Some talk about money but they understand that their money does not equate to their inherent value. They don't act entitled to anything. They work hard for what they want.

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.

Know your worth

Know what you are worth with or without money. You don't need money to be creative. Lacking resources can motivate you to think outside the box.

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

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