Work hard, save a portion of your income and invest for the next 40 years and retire at 65. That’s the standard template for everyday people who earn an everyday paycheck, right?
The problem with such retirement planning is it keeps you small and unremarkable. In another words, you’ve resigned the most valuable and productive years of your life to thinking small and believing that employment is your only way to a successful retirement.
By the way, if you’re planning to retire via the old fashioned way, I think eventually you will more likely to fail then succeed. Why? Because 40 years is a very long time. Most of the people who will run your country are probably still in kindergarten right now. Many governments today are spending at a rate that they simply can’t afford to allow its bourgeois class to retire. Inflation is going to make them tweak some current rules – delaying retirement age, tax increase, property price increase, insurance premium increase, etc. When you reach 60, you’re probably going to doubt your own retirement funds and start contemplating on working till 70 or even later. Maybe forever.
Successful people don’t retire. They don’t see retirement as just a way to get out of their work. Rather, they see their work as something fun and meaningful that they’re willing to do till the day they die.
If you want to retire, plan to retire at 25 instead. Not 65. Find something you love doing. Focus on more meaningful stuff like helping people to improve their lives. Not on how much you need to retire. That’s doing retirement wrong.