Retirement is no longer an Option

[Andy]

How many people still think the concept of working hard at a job and then retiring is still a valid option in this credit crisis age?

I realized a long time ago that you have to work continuously from leaving school until you die. The internet has given many of us a way to make this possible via building and monetizing websites. Ideally we create automated income streams so even when we are in the old-folks home on a drip and a cardiac restarter unit watching TV, we can still survive financially and pay the nurse for our bit of pleasure.

The thing is that a website is an asset. You have to own assets like land, precious commodities such as gold, beautiful people and domain names. If you trust your future to wages and a pension fund, you are putting your trust into people that caused the financial crisis and get big bonus payments even when they under perform. So the trick is (I think) to focus on accumulating assets that no matter what happens can be sold to eager buyers in the future.

Protection of assets is another thing to consider since if they are all based in one country they can be taken from you by a man with a gun. So you need to spread your assets around the world. The best example is works or art I think. You can buy an expensive painting by a famous artist and it will be unique. It is not possible to reproduce it since it is old and the painter was one of the best in the world. So, if you bury that painting in an underground vault that is protected from Nuclear war and alien invasion, you will always be protecting your wealth as long as you remember where it is or securely pass these details onto your surviving family via a blue-ray funeral disk or whatever.

But, if your wealth is indicated by some digits on a computer in a bank then these numbers can be instantly deleted due to a virus, administrative error or government policy. Just some thoughts ...

[TexasLady]

And, enjoyed your little article even if I didn't agree with much of it.   

As a man in his forties who is self-employed, You probably cannot consider retiring without working at least part time out of your home.    But you're better off than someone who is working as you said.    Matter of fact, my succesulson set up 401k, rust for the three kids' college, etc.    They have lost 40% % of their vallue due to economic crisis.   Can't quite buy the "Painting by a world famous artist" though.    That will run you millions And in most cases, entrepreneurs don't make that much.   

As for the big bucks CEOs, etc. I've even heard of a few of them refusing their curent salary and bonuses to 'help the economy'.   Of course the US government is giving them $billions in rescue funds so they'll have lots of money to play with. Look at  AIG.

Hey guy, I'm retired and as long as your don't mind living in SURVIVAL MODE it's not s o bad.  Don't go in debt, lower your expectations, let your nurse live on her salary, and you'll do fine.    By then the doctor will have taken away every thing you like... alcohol, sex, fat,  salt.. ho hm!       

[Andy]

I think you've done well, relocating and getting set up in survival mode Bev. Taking a few chances in life here and there can pay off and adds variety.

Ever thought of writing or dictating an autobiography? Many people must have had enough interesting experiences in life to create such a thing. I don't think you have to be famous, in fact, you may have a more interesting story to tell if you tended to fly under the radar.

My uncle entered his life story into a computer and accidentally erased it which was sad.

p.s. if you can't afford paintings, try investing in red wine maybe? The only snag with this is that if you are a wine enthusiast, you tend to consume it all  So a catch-22 situation.

[TexasLady]

Ever thought of writing or dictating an autobiography? Many people must have had enough interesting experiences in life to create such a thing. I don't think you have to be famous, in fact, you may have a more interesting story to tell if you tended to fly under the radar.

Can't resist responding to this Andy.   Boy did I fly under the radar!    Was taken for an admiral's wife once though at the officers club.  They treated me sooo nice until I fessed up!   

Been told by lots of people I ought to write my story, or at least a book.  Only problem is at my 'advanced age I might not be able to remember my life story.    You know how it is "elderly" and CRS.   Gosh I hate that word elderly, don't you ever use it around me!  .         

Drinking that yummy red wine - yes, that sounds like fun.   Ah me! 

Podnuh... not sure how wise that relocation idea  was because this little bitty North Texas town ain't got nuthin but monster pickup trucks, wind and a Wal Mart.   But it shore is friendly.