How does retirement fit into your career planning?
For some of you, retirement is a concept that is a painful thought, living on a low income, just scraping by. For others, it brings anxiety or uncertainty. For most, its blissful ignorance “let’s worry about that when we get there.”
We are socially engineered by financial companies to think retirement means having a bucket of money we draw down on. But retirement doesn’t have to mean a complete change to slacker mode.
In fact, retirement can kill! The sudden cessation of work and routine can effect your health in negative ways.
Think outside the box for your retirement
No well run business or trust would operate from a drawdown on a bucket of money. It’s all about CASH FLOW. Looking at retirement in terms of cash flow is the way to think “outside the box” for retirement. What forms of cash flow could you generate for and during retirement?
Don’t think you will have enough savings? There are other many easy and simple ways to plan for a happy retirement cash flow.
Why not set up a small hobby business now, that can quietly grow into a source of ongoing cash flow during your retirement? Could you take courses in photography now, and develop a hobby that could make money when you retire? What career changes or choices could you make now or in the future to segue into a better retirement? There are many scenarios you can pursue. Take a few minutes to go through your retirement beliefs and explore some of the possibilities – which ones could you cultivate to give you a happier retirement?
Review your Retirement Scenarios
Test each level below to see where your comfort level is now, and where you would like to cultivate it to be.As you go through the scenarios below, ask yourself “Do I currently believe this?” and “does this reflect my money, career and lifestyle values?”
Now after going through all these scenarios, ask yourself “Which retirement scenario would be the best one for me? Which one could I begin to cultivate now?
Finally, after going through these retirement scenarios, are you satisfied with your answers to those scenarios? If not, what retirement beliefs – from this list – should you begin to cultivate now?
Question yourself a bit here: Is how I think about retirement right for me?
Retirement as cash flow
What new revenue stream strategies could you begin to employ now – to harvest as cash flow in your retirement? Consider hobbies, career changes, businesses, investments and any other ideas you’d enjoy.