What Does Retirement Mean To You?

To my parents and grandparents, I feel like retirement had a very clear meaning. You basically set money aside every month and at some point are able to stop working and live off of the income from 3 sources:

  • government pensions
  • company pension (for which that person generally worked for his entire life)
  • personal savings

I feel like that is quickly changing.  Why? There are many reasons but a few are:

  • we are living much longer than we used to making it more difficult to work until we’re 55 for example and retire
  • in many cases, our goal is not simply to “stop working”
  • we usually change jobs several times and company pensions have changed drastically, making it more difficult to count on them
  • even governments are constantly changing retirement benefits (retirement age, benefits, etc)

Is Retirement A Journey Or A Destination?

I personally feel like I’m getting closer and closer to my “retirement” and yes in a way that is because I’m getting older but it’s much more than that. I personally think retirement means becoming financially independent. That could mean a number of things but for me it’s being able to generate enough income through my investments and my company to not depend on working a 9 to 5 job. I don’t know if I’ll ever reach a point where I say “this is it, I’m financially independent”. I doubt it in fact. Why? Because spending generally increases as revenues do. The important thing for me is (besides that they increase more slowly) making my situation better over time. Hopefully, if at age 70, I’m still working or blogging (maybe even writing on this blog haha), it will be entirely by choice.

What Would Happen If You Lost Your Job Tomorrow?

I would certainly be looking for a new one. But compared to 5 years ago, I would be in a much better position. I know that I could survive several months or more without going out finding a new job, being more minimalist would certainly help in that case too. I’m hoping that my situation will continue to improve and that will give me better options such as:

  • only doing a job that I find interesting and challenging
  • work from home, have flexible hours, etc.

How do you view retirement? Is it close to your parents or grandparents view? Is being financially independent a goal for you?

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