Sunday, March 11

Do I Really Want to Retire?

An interesting discussion at Canadian Dream on Saturday led to this post on Investoid, which I really liked. He talks about gradually working less instead of completely retiring, which is something that I have started to think more and more about. As I discussed previously there are some very attractive reasons that might make me want to continue working. Additionally, many of the drawbacks of work for me come from the stress of it and the lack of time to do other (sometimes financially beneficial) things. So a reduced work schedule seems to allow me to keep much of the good while reducing the bad.

When I started this blog I knew that I wanted to reach $1 million and to work on the cash flows necessary to stop working. However, these goals are a bit vague because I haven't set dates or specifics. Essentially, I am still missing a retirement plan, or perhaps as Investoid calls it, an "anti-retirement plan". I would like to start putting such a plan together but I always hesitate over the unknowns.

I am now inspired to start the work on this plan over the next little while and see if I can come to some greater clarity in my vision of the future. This blog has been a really good tool for me to think about things more clearly and I hope that I will be able to make a great step forward by tackling this rather daunting task!


S. B. said...

In my opinion, these are the right questions to be asking. Dreams of amassing wealth or retiring early are usually not in and of themselves what people want.

I ask myself every single day what I am really trying to accomplish with my financial goals. It takes a long time and a lot of introspection to draw out of yourself what it is that you really want in life.

Sadly, many people never have this conversation with themselves. In the end, the wealth and the free time will probably be very disappointing if that is the goalpost, rather than the doorway to something else in life.