What would you like to do when you grow up? That’s the standard question we all ask our kids at one point or another, when dreams are sweet and fertile and options are limitless. When I was a kid, I wanted to become a professional tennis player and a horse trainer, and at one point, I even wanted to be a nun or a priest (can’t tell you why but I remember this phase).
Anyway, now that I’ve reached the halfway point of my existence, the question I ask myself today is: what would I like to do when I retire? I pretty much know what I’d like to do…. I’m going to be completely unexciting and tell you that at this point, I only want to keep doing the same thing I’m doing now, because in a way, I feel like I’ve already “retired” — at least from the 9 to 5 workforce. You may or may not remember the following posts I had written some time ago, when all I aimed for was a flexible schedule.
- Ready To Retire Right Now? Find Out If It’s Time To Quit The Rat Race
- My Ideal Work Life: Achieving A Balance Between Family & Work
- Quitting My Job, Retiring Early: 5 Steps To Lifestyle Change
So What’s Your Retirement Plan?
The term “retire” really is a misnomer of course. All it means is that you’ve entered a phase in your life where you’re doing what you want to do — on your own terms — whatever it is. I believe that retiring simply means having enough time in our hands to do whatever it is that we want to do, to know what it is that we’d like to do, and finally, to actually enjoy those activities that we now have time to pursue. In my mind, I would say that you’ve retired if there’s no other place you’d rather be, than where you are right now.
So what is your picture of retirement? I know lots of people who enjoy traveling, though I did find it interesting that the survey I featured in my post called “Time Is Money” showed that many senior citizens (and I suppose, retirees) don’t spend as much time on travel as younger people do. Do you think you’d fall in this boat? Have you considered thinking about the activities you’d like to pursue as a retiree?
I will say that I feel quite inspired by this one fellow I found on CNN: he’s a 93 year old stock broker who’s been trading and investing for over the last 74 years. To watch the video about this gent, click this link or the image below.
He wakes up at 7 AM, works till 4 PM and pretty much defines his days around the financial markets. After trading, he even manages to have the energy to visit his trainer for some weight training sessions. Plus, I’m impressed by just how computer savvy he is: he keeps one computer screen on the markets, one on clients and one for all other miscellaneous computer activities. He’s the man! Now you may say that he’s decided to never retire, but I’ll argue that he’s been in retirement for a while now!
I’d love to be just like this guy if I’m ever fortunate enough to get to such a ripe old age. 🙂
That’s my inspiring financial story for today.
Copyright © 2009 The Digerati Life. All Rights Reserved.
{ 18 comments… read them below or add one }
Ah I’d love to travel the world, and read books all day! 🙂
Thanks for sharing your plans, Amber. Does anyone want to work forever? I know a few people who actually do (and by choice)! In my case, I wouldn’t mind working forever. The key is living a balanced life, where work fills one part of it. For a lot of us, work gives us meaning and identity.
That’s why some people actually fall depressed when they end up retiring cold turkey. My father-in-law is working past his retirement age. He works for a major university as a research professor, without pay (he used to get a salary until the government halted grants for his projects), and he wouldn’t have it any other way. It’s nice to see people just enjoying work that they would do even without getting paid!
I expect that my life in retirement (hopefully only a few years away) will be very different from what it is today. If nothing else, I will get a lot more reading done and will spend more time exercising.
Several years ago I prepared a “bucket list” and keep adding to it, ticking things off as I complete them or removing items which no longer interest me. Currently I have completed 10 of 36.
I’m pretty much going to head to a tropical island and veg out. Everyone says I will get tired of it, but I love the laidback island lifestyle.
My goal is to shift my productive energy into fiction writing. I currently write a new short story for my site every week (typically on Fridays), but it would be nice to have the time to focus on a novel for long stretches of time.
I will probably keep myself occupied with some kind of a job in retirement. That is at least what I think right now. That may change 40 years from now. I’m only in my early twenties and when I’m not at work I get bored easily, which means I will be bored out of my mind when I retire. Who knows, I may save enough money to travel all the time in retirement.
i want to be the richest man around. i want freedom to go wherever and do whatever i feel like doing without having to worry about cash or bad relationships or whatever. and to indulge in my shameless vice of exotic cuisine and well written books and cars that go too fast.
Love everyone’s thoughts on how they’d spend their retirement days. Mr. KenyanTykoon’s comments caught my eye though. I applaud his unabashed honesty. In my opinion though, becoming the richest person around isn’t what it’s cut out to be. Too easy for you to attract the wrong crowd and being so rich doesn’t equate to being content, happy or fulfilled.
It’s easy to say when we are young that “rich” is what we should aim to be. This goal loses its allure as you grow older…. 😉
I have just begun putting money into a retirement account, but have not thought that far in advance to the day it will actually happen. Since I am young its not a thought and some fictional mindset that doesn’t even exists. But I am happy I have started with your advice and others. Always great to look ahead, I’m just not quite looking that far ahead yet.
1. join local book club
2. volunteer at local animal shelter
3. work p/t, locally
4. TRAVEL
5. socialize more
6. exercise more
That’s an interesting point about younger people traveling more than older ones. But maybe it isn’t so surprising either. As much as we like to think that we’ll be super healthy and live to be 95, most people have one or more chronic health conditions by they time they hit 65, and are at least somewhat tethered to the healthcare system. It’s hard to be completely mobile in that situation, so you may be at least a little reluctant to go too far from home, especially as the years pass beyond 65.
Best approach is probably a balance of work and liesure, throughout your life, including in retirement. Enjoy your youth, that’s when your body can take the most.
When I retire, I plan to travel with my wife. We don’t have to travel very far though. We will probably spend time visiting children and grandchildren. We would also like to travel in order to serve others in any way we can. Even if we are older, there are a million ways to serve others. Nearly all organizations accept volunteers.
I had a professor in college like this guy. He had been in “retirement” for years and still came and taught one economics class every year. He was a great teacher and when I met him he was about 81. I recently went back to my college and passed this guy in the hall! I couldn’t believe it, he has well into his 90s at this point. His work/retirement keeps him going.
I have often said this about myself. I love what I do. Someday in my “retirement” I would like to perhaps work less hours per week or travel a bit more, but I doubt I would ever just stop what I am doing. I love writing, consulting, speaking and I just can’t see myself not doing that any longer. Like Richard Branson, the famous entrepreneur and billionaire said he will keep doing what he is doing as long as he has all of his marbles and is still upright. I couldn’t agree more.
What a fun article! Thanks for allowing me to reflect on my vision for retirement. I know exactly what I would like to do when I retire. And for me, as you, it’s retiring from the 9 to 5. Today, I am a volunteer financial counselor and blogger outside of my day job (which I also enjoy, by the way). But, to help people manage money wisely and blog full-time would be a blessing I often think about.
I think how we define retirement often varies from person to person; it can be an actual retiring from life itself, or pursuing one’s life’s dreams. I love that story on the 93 year old trader. I think he’s living his dreams.
I think I would keep working. But it would be nice to see it as a hobby instead of something I “need” to do. And it would be comforting to not have to rely on the income and just see it all as play money.
I’m a little bit too young to think about my retirement, but I want a job that I like and a job what will cost me max 32 hours a week.
I think the key is control. I read where 90% of almost all jobs is beauracratic paperwork, and you put up with everything just for the 10% of your job you really enjoy. I would think in retirement you could dispense with all the foolishness and not have to put up with idiots and just focus on the part of the job you really enjoy.