Posts Tagged ‘retirement’

I was watching an interview last night with Mike Love, one of the founders/singers of the Beach Boys.  Mike is in his mid 70’s and said he did over 170 shows in 2016.

And he looks like he is in decent shape.

Growing up in Brooklyn, the town that I grew up had a large number of civil service employees, including many of my good friends and most of my family.

Working for the civil service, one of the most common themes you hear people talking about is “retirement.”

  • How many more years you have?
  • I can’t wait to retire.
  • 5 more years and I am done

But I am here to tell you that retirement is very overrated.

If you want to live a long and meaningful life, you need to stay active.

Now, I am not saying you need to teach until you are 85-years old.  But what you should focus on is finding  an activity that you enjoy and something that keeps you motivated.

Humans need a reason to live.  I have relatives that retired in their early 50’s and without a lack of activity, they all have aged very prematurely.

70 years old is not considered old anymore.  I lose to 70-year old men in races all the time and there is no excuse to be walking about like a bag of bones.

Find something meaningful in life to keep you busy.  Whether it is a second job, sales career, marathon running, bodybuilding, religion or volunteerism.  You need something to keep you motivated and alive, otherwise you will experience a premature demise.

Never stop grinding….

-John

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I learned my lesson the hard way.  By living and surviving through major recessions in 2001 and in 2008/2009, I cannot overstate how important it is to have a plan B.

What happens if your job is eliminated and eliminated quickly?

Can you afford your rent, cell phone, car insurance, food, and gym membership for one year?

Most people can’t.

The first time I worked two jobs was right after I graduated from College.  At that point I wasn’t necessarily worried about losing my job since I lived with my parents, but more importantly, I wanted to save some quick money.

And it worked great.

Almost 15 months after graduating from College, I had saved over $20k.

But more importantly, I learned how a second job gave me some flexibility.  If I wanted to leave my first job, or if I got laid off, the second job was there for me.

I have met so many older Americans that have only worked and committed to one place of business and unfortunately had their rug ripped out from under them.

2001 was bad.  2008/2009 was really bad.

I don’t want to get into the importance of having a nest egg since that is obvious, but not enough people have a plan B.

A great example would be the auto workers in Detroit.  For years, the jobs were slowly starting to leave before they almost became non-existent.  If you find yourself in the same situation, you need to start a 2nd job before your position is eliminated.

Healthcare. Education. Retail. Restaurant/Tourism, etc.  There are a lot of fields where people can possibly work part time and have the opportunity to switch to full time if necessary.

Another idea is a side business.

If you can start up a successful side business, you can save a TON of money.

I have been working in sales part time for the last 3 years, and so far, it was been very profitable.  Profitable enough that I don’t think I could have afforded to get married and support my pregnant wife like I am now.

But that best part is that if I lose my 9-5 job, I can jump into my sales job full time on day ONE.  I won’t earn the same that I was, but I have a solid chance to break even with my bills and support my family.

So take my advice, take on a 2nd career.  You will be surprised by how much you can earn.

-John