Saturday, July 31, 2010

Retirement Plan

I've been thinking about retirement lately.

"Aren't you too young to retire?" my close friend asked. Don't get me wrong, but I have my own definition of getting retired that may be different with the common perception.

First of all, when I'm retired it means I will do the things that I really like. I will do something that I'm really passionate about. So I will never do something because I have to, in order to make money, for example.

Second, even when I'm retired I will still work. I believe most of us have to work, because it is important for every one of us to have the feeling to accomplish something. But the work that I will do may be the same as what I'm currently doing now, or it may be completely different. I may work for a company or run my own business. And again, I will work not because I have to, but because I like to do it.

That means I can choose the type of work I want to do, and I decide when and where to do the work. Some people like to use a jargon such as financial freedom. For me I will make it simple; I need to get into a state where I can get stable income regularly regardless if I make money or not from my work. Then whatever work I will put myself into, after I decide when and where to do it, it will be because I really love doing it. If the work provides me with more money, I will just consider it as something extra.

Last but not least, I will not retire NOW. But I think it's good to start thinking about it, because it makes me at least to start building my retirement plan. I have set a timeframe, something that I can't share here. Now I need a solid plan so I can achieve my target date.

You may laugh after reading all the stuff above. But those thoughts have been hitting me for the past few days. And eventually everyone will be retired. So I challenge you to make your own definition about retirement. And start making a plan and set the target to get there.

Let's see who get there first ;)


Unknown said...

Try some thing different within Cisco before you get retired. I have seen people working for 20 yrs in Cisco and still passionate about technology and still working !!!

Anonymous said...

I have been following your blog for quite sometime now. I love the way write and the way you express the idea. Would you consider forming up a training center covering Asia-Pacific, it would be nice to have an expert or training center for this zone.

File Personal Bankruptcy said...

Retirement planning is all about knowing what you want and being disciplined towards achieving it.Planning for life after work is not so difficult once you follow a few simple steps:

1. Determine an amount that is required.
2. Determine how much additional is needed.
3. Allocate investments.
4. Wait, review and reallocate.

File Personal Bankruptcy

The Retirement Group said...

This is really true. Your blog is indeed empowering. Good thing I stumble into your site. Thanks a lot and good luck to you!

Neil Fiorenza said...

That's a good plan. You know, setting your retirement as one of your major goals is pretty effective. It will give you the inspiration to strive more at work, save lots of money, invest, and make more. It doesn't matter what age you will retire, as long you have enough to survive everyday and you get to enjoy the "freedom".

Drew Harrison said...

Your retirement plan is great. Most people think that retirement means you'll just stay at one place until you pass away. It's true that planning for it doesn't mean you have to do it soon, since planning it now means you won't have to worry about it later on, right?