Living (& selling) the dream
So you think you want to retire? You think you want to have no work you have to do, living off passive income from your vast property portfolio.
Here's a warning about that (or something to plan in advance)...
I have retired at least 3 times. I lasted less than a few weeks each time. One of my haters even said "Rob, if you're so rich why do you still do talks, videos & social media posts? Why don't you just sit on a beach?" Here's why, & I feel you should look at planning this into your retirement now:
1. I'm ginger. I burn easily
2. I don't drink (what else do you do on a beach) & I hate the water
3. When you retire, your purpose & function to humanity diminishes. You go from 'producer' to consumer, so...
4. You will get huge urges/cravings to do something meaningful (the ironic paradox of 'retiring')
5. You feel alive when you are achieving & growing, & you may feel like you are dying slowly doing nothing (in fact, many do die)
6. You create a void when you retire & your natural instincts will desire to fill it (so plan your meaningful work into your 'retirement') to combat this ahead of time
7. You probably want to matter. To make a difference. To be recognised & valuable. The only difference when you retire is you do not have the pressure of a lack of money (so you can make non-fear based decisions). Everything else is the similar
8. Inflation will reduce your money (halve it every 15 years or so), so you need more than you think/plan for now
9. Your human urge to grow will likely kick in. People ask me "Why do you keep going when you have enough money". My answer is "Because I like more money". Why do I write my 10th book when I have already written 9? Why do we buy more properties when we have 'enough'? Growth, progress, value/contribution, recognition, reward, legacy
I'm not saying don't retire. We sell the dream. And we deliver the reality. But I am saying you CAN build assets that create passive income so that you don't HAVE to work. Ironically then you might want to. You'll probably become MORE productive. You might want to do more meaningful things. You might have a greater mission, legacy & cause. But the "kick back, do nothing, chill out" dream, at least for me, is soulless & purposeless. A lot of critics comment on my in-and-out & lack of 'retirement' but they've never been there, so they don't know. I have experience of retiring I've done it so many times! And whilst I will make better decisions to the most authentic 'me' without the pressure of no money, I will retire when I'm dead.
I get (myself) frustrated on a daily basis if I am not doing good, creative, meaningful work. And it forces me to produce & to create & contribute.
What would/will you do, when you can finically retire? What is your vision?
Rob