Hey Tim, I just had a one-on-one Zoom call with a client. My first client. It feels like a big day. And I'm not scared anymore. The $100 I made from the session? I'll invest it.
Love your points. Hate the subtitle. Really, we need a better word or definition for 'retire'. I never want to retire. I want freedom. Which is what you've earned. Which is what your '8 Things' lead to. Freedom.
This is a great question. Had to think about it for a bit. Here goes…
First a caveat: I said earlier it’s about freedom. That’s true but we always have the ‘freedom’ to do anything we want, if we are willing to pay the consequences. So, I’ve chosen the word ability. Ability means we’ve prepared ourselves to face whatever challenges we choose to accept or that life throws at us. At least in my screwed up ‘Jeff Dictionary’.
So retirement is:
the ability to follow your interests
the ability to educate yourself
the ability to support yourself, your family, your friends, and your causes financially and emotionally if desired
I love the self-awareness here Irene. I've had many hard times so I respect where it comes from. But in the long term consumerism behavior isn't good for us.
I agree with you. I hate coupons too, but it seems silly not to use them when we can save money. It's also a good way to choose between competing sellers and service providers.
I use online coupons, which probably don't cost as much for them.
I think a 9 to 5 job should also be used as a source of capital for side hustles till it's time to quit the job and I also don't like the idea of going back to a job.
It's a matter of time. You can waste time trying to save a few dollars or you can make more money. Coupons don't come for free. They have strings attached. True?
Understanding completely the statement "rich people own assets, poor people own liabilities" is also a shortcut to early retirement. Currently you also need to learn exactly what the billionaires are buying at the moment and trade like a billionaire. Fiat currencies are all about to disappear in a puff of smoke.
I chose number 9 - Stop living in your bubble and wake up.
We all live in a bubble of information, and we are shaped by society and our circumstances.
Work is boring in your bubble.
When I realized that living with an open mind almost solves all problems, I was on the right path.
You don't judge people (including yourself), and you feel so damn free.
Add to that a desire to help people just because it feels so good, and good things start to happen to you. And they come from the most unexpected directions and situations.
I also thought I was going to retire early... my early being 40. That was 13 years ago. Then life happened. Lost my husband and felt the rug pulled underneath me. I have been in the shadows, struggling, not able to breathe because life didn't stop for me to grieve. Salaries weren't put on hold for me to cry. Presently, I am learning the ropes to live again. And I am glad I read your first article.... and I am not stopping any time soon. It feels like retiring through the back door. But it's retiring any how. My pledge to myself is that I will actively do what I love doing and also actively enjoy my passive income. I have 5 years to make that happen. Thanks Tim.
Point #2 is spot on. I fought so hard to climb the corporate ladder, thinking it would lead me to making enough that I could retire early. Then I noticed who was around me. It's folks who were waiting out their career so they could retire much later than I ever hoped to.
18-34 work, 34-74 retire then death - then if we could just go 0-74 retired it would be perfect, then if we could just avoid being born, just how nature intended to avoid the hassle of the free enterprise trap.
So true! So hard for people to realize the bad habits in their lives that are preventing them from retiring early. I’m not there yet but I’m hoping I’ll get there one day!
What if you work paycheck to paycheck and perhaps supplementing it with small investments- so don’t have the luxury of taking money out of one’s income to set up a 401k, IRA, or anything else? And don’t tell me I’m too lazy or fritter away money irresponsibly.
Showing up is definitely something I need to work ok. I gave up TV time since I was a kid. And I've seen many people around me doing number 1 and being stressed all the time while losing money, so I never tried to resell physical products.
The part about coupons, sales, and discounts is spot on. One of the first things I tell my clients is to unsubscribe to all brands and stores emails. They are unnecessary noise and won't do anything to help them improve their presence.
Hey Tim, I just had a one-on-one Zoom call with a client. My first client. It feels like a big day. And I'm not scared anymore. The $100 I made from the session? I'll invest it.
Big win, congrats Denis!
I love to see people celebrate the success of others. Sign of a winner.
We’re all on the same team! 🤗
Thanks Dana.
What a huge win Denis! So proud of you. Seeing your growth in the mastermind has been awesome. Keep going.
Thanks, Tim. I enjoy working with you.
Congratulations 🎉👏👏👏
:)
Thanks Irene :)
That's huge, Denis. And inspiring!! I'm going to cancel my Netflix account so I can build my newsletter. Thank you!!
All the best, Dave!
Love your points. Hate the subtitle. Really, we need a better word or definition for 'retire'. I never want to retire. I want freedom. Which is what you've earned. Which is what your '8 Things' lead to. Freedom.
Couldn't agree more Jeff. I thought I wanted to retire but I went right back to work.
What's your updated definition of retirement?
This is a great question. Had to think about it for a bit. Here goes…
First a caveat: I said earlier it’s about freedom. That’s true but we always have the ‘freedom’ to do anything we want, if we are willing to pay the consequences. So, I’ve chosen the word ability. Ability means we’ve prepared ourselves to face whatever challenges we choose to accept or that life throws at us. At least in my screwed up ‘Jeff Dictionary’.
So retirement is:
the ability to follow your interests
the ability to educate yourself
the ability to support yourself, your family, your friends, and your causes financially and emotionally if desired
the ability to direct your own time and schedule
What’d I miss?
I think you nailed it, Jeff.
Points 1 to 4 and 8 strike me as true based on my experience. The other 3 also make a lot of sense. Thank you for another great and useful article.
Hiding from the world out of fear of judgement. New goal: be seen. Be judged.
Judgement is just feedback you can use to fuel your growth. Agree Kathy?
Oh my. This.
Judgement = fuel for growth.
It expands conversation.
Thank you Tim.
Great article Tim.
I hate coupons. I grew up in a coupon town and still use them. Why don't they just drop the prices?! It's ridiculous and a huge waste of time.
And very costly for them. When I was a marketing consultant for a company back in my twenties one of my accounts was Nabisco.
He said that it cost the supermarkets $10,000 a week to print those coupon circulars for the crazy coupon ladies.
Forcing them to jack up prices to print them.
But he said my city was one of few in the country who used them.
My Nabisco rep taught me alot.
So yes, a 9 to 5 job is a good place to learn. Although, I will NEVER go back. Lol.
But coupons do "work" along with sales and discounts when promoting offers.
So yes, I would very much like to give up coupons. But it will have to be a transition for me. 🤷♀️
I love the self-awareness here Irene. I've had many hard times so I respect where it comes from. But in the long term consumerism behavior isn't good for us.
Yes Tim, me too. There have been many times when I've been so grateful for a coupon. But it's a mindset shift when it comes to building wealth.
I still long for the day when I don't even look at how much something costs. Hopefully, I will get there soon.
I agree with you. I hate coupons too, but it seems silly not to use them when we can save money. It's also a good way to choose between competing sellers and service providers.
I use online coupons, which probably don't cost as much for them.
I think a 9 to 5 job should also be used as a source of capital for side hustles till it's time to quit the job and I also don't like the idea of going back to a job.
It's a matter of time. You can waste time trying to save a few dollars or you can make more money. Coupons don't come for free. They have strings attached. True?
Understanding completely the statement "rich people own assets, poor people own liabilities" is also a shortcut to early retirement. Currently you also need to learn exactly what the billionaires are buying at the moment and trade like a billionaire. Fiat currencies are all about to disappear in a puff of smoke.
More details; https://truthaddict.substack.com/p/the-great-reset-is-the-great-taking
Hey Robert, promoting your Substack with a link under mine is needy and desperate. Please do not do this again. Thanks.
Having an ego the size of yours is ugly but you don’t see me complaining do you?
I chose number 9 - Stop living in your bubble and wake up.
We all live in a bubble of information, and we are shaped by society and our circumstances.
Work is boring in your bubble.
When I realized that living with an open mind almost solves all problems, I was on the right path.
You don't judge people (including yourself), and you feel so damn free.
Add to that a desire to help people just because it feels so good, and good things start to happen to you. And they come from the most unexpected directions and situations.
When life feels good why retire?
I also thought I was going to retire early... my early being 40. That was 13 years ago. Then life happened. Lost my husband and felt the rug pulled underneath me. I have been in the shadows, struggling, not able to breathe because life didn't stop for me to grieve. Salaries weren't put on hold for me to cry. Presently, I am learning the ropes to live again. And I am glad I read your first article.... and I am not stopping any time soon. It feels like retiring through the back door. But it's retiring any how. My pledge to myself is that I will actively do what I love doing and also actively enjoy my passive income. I have 5 years to make that happen. Thanks Tim.
Point #2 is spot on. I fought so hard to climb the corporate ladder, thinking it would lead me to making enough that I could retire early. Then I noticed who was around me. It's folks who were waiting out their career so they could retire much later than I ever hoped to.
I’m still trying to wrap my head around making t-shirts out of kale (okra is so obviously a better choice)
18-34 work, 34-74 retire then death - then if we could just go 0-74 retired it would be perfect, then if we could just avoid being born, just how nature intended to avoid the hassle of the free enterprise trap.
So true! So hard for people to realize the bad habits in their lives that are preventing them from retiring early. I’m not there yet but I’m hoping I’ll get there one day!
You decide not to work for money but never retire! Few people do well without a clear life purpose.
What if you work paycheck to paycheck and perhaps supplementing it with small investments- so don’t have the luxury of taking money out of one’s income to set up a 401k, IRA, or anything else? And don’t tell me I’m too lazy or fritter away money irresponsibly.
Cake is the obvious thing missing from the list? 😁
Unless you give up cake 🍰
You’re not going to succeed 😉👌🏽
Showing up is definitely something I need to work ok. I gave up TV time since I was a kid. And I've seen many people around me doing number 1 and being stressed all the time while losing money, so I never tried to resell physical products.
The part about coupons, sales, and discounts is spot on. One of the first things I tell my clients is to unsubscribe to all brands and stores emails. They are unnecessary noise and won't do anything to help them improve their presence.