SWAV 260 : Retirement is a Scam
Quote of the Day:
Imagination will often carry us to worlds that never were. But without it, we go nowhere. – Carl Sagan
How powerful is your imagination? Vision is imagination. You need a vision or imagination that will take you to places. Think about when you are young, you have imaginations. Think of kids, they have vivid imagination and crazy ideas of what they can become. Who can say they cannot accomplish what they are imagining. So, as an adult and as an entrepreneur, you should continue to imagine because that will be your ticket to get somewhere. Without it, you are not going anywhere.
Topic of the Day: Retirement is a Scam
I do not think and believe that people should be living for this. If you have 1M in your account to retire (which most people don’t), and they say you live 20-30% of that in an average. So, it means you have to work your whole life just to live on a poverty level. And you can get penalized if you take more than you have allotted to or what ever.
This is ridiculous, I worked hard for that money and now I can’t use it on my free will or else the government who regulates this will penalize me and take money from my savings. So, for me this is blasphemy. Let’s say 200K divided by 5 and you need to live on 30-20%. That’s less than $5K a month and you are only living on pension. How ridiculous does that sound? This is the dream that they have painted for us.
They really want to believe is a holy grail. If you love what you do, you won’t want to retire and if you are working you do not have to live off a designated amount. Imagine inflation happening, every year the value of dollar drops. So, 175k in 2000 won’t be 175k dollars in 2017.
People think that just because they have 41K they are doing something. There is a book out there that talks about 41K being a scam. Imagine working for 40 years, whatever you have won’t be the same by the time you retire.
Let’s imagine the flip side. What if you have a rental property. How much will be coming in every month and when you retire. Instead of focusing on retirement, focus on residual income or possible cash flow. I would rather have a residual income over a period of my life than focus on retirement.
Retirement is BS, stop living for that.
The 50th Law by 50 Cent and Robert Greene