Entrepreneurship gets in your blood. It’s a thrill, building a business and being in charge of your own enterprise. It can be a hard habit to break.
– Carol Tice, Will Today’s Entrepreneurs Ever Retire?
You’ve heard it before: I love my work so much I would do it for free! Okay, maybe.
How about: I love my work so much I would do it forever! Ouch.
When you’re driven by passion and a big, bold mission, it’s hard to imagine yourself not working until your last breath. Or is it? It’s harder still to imagine a plan for working yourself out of a job when you’re struggling to stay in control of your current business plan.
But planning for retirement – or, at the least, that time when you might want to have more fun – is an important part of your long term goal setting.
How would you make business decisions differently if you knew what retirement looked like?
How do you envision retirement as of today?
- Sipping cocktails on a far off island beach?
- Hardcore philanthropy?
- Ceaseless travel?
- Going back to school?
- Ease, rest, and relaxation at home?
- Work as fun instead of working to fund fun?
Bottom line: you’re not building a business or income stream just for today or tomorrow. You’re building a strategy for long term gain and satisfaction.
Entrepreneurship Library GIVEAWAY
Want to win a library of 6 books to support your entrepreneurship and help you build that strategy for long term gain & satisfaction? Thought so. I’m giving away a copy of Drive by Daniel Pink, Start With Why by Simon Sinek, Linchpin by Seth Godin, Taking the Leap by Pema Chodron, Uncertainty by Jonathan Fields (forthcoming), and The Art of Non-Conformity by Chris Guillebeau.
These are books and people who have transformed my business.
Here’s how to enter:
- Visit our giveaway sponsor’s site, Business on Main, and take a look-see at this article on entrepreneurship & retirement (link will open in new tab).
- Then, come back here and leave a comment below with your thoughts on retirement. Want to work forever? Are you one of the 4 in 10 who are don’t plan to retire? Or do you have a clear vision of what “work” will look like (or not!) in your 70s or 80s?
- Giveaway ends Monday, August 1 at noon Eastern. Winner will be selected at random and contacted by email.
- One entry per person.
My blog is a part of an online influencer network for Business on Main. I receive incentives to share my views on a monthly basis.
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I hope to keep working but shift to about half the hours. I am saving right now to make possible. I don’t want to every totally stop working; I watched my FIL’s health deteriorate from that.
I plan to spend the free-time with my family or traveling.
Realistically, between college and economy, despite best practice, retirement will involving working on my part.
What I hope for? To be reading a ton for pleasure, editing and writing about 25 hours a week, spending more time in my garden — so I can chase away the %&#*($^ squirrrels that stole my tomatoes while I was on vaca, still going to the Ozarks with my geezer friends and drinking maragritas and hanging in the creek a couple of times a summer, going to the long-saved for trip to Japan with my husband and (college aged) son.
Having wrinkly knees without shame. NOT getting Botox or plastic surgery. Getting more cats.
Chasing kids offa my lawn with a holographic cane.
Writing meticulously researched articles about how the future has dovetailed or deviated from sci-fi books published in 1990 to 2020.
Occasionally being mutton dressed as lamb. Not caring about it.
Being able to travel to friends’ art exhibits in other cities.
Spending a month in Italy. Touring Ireland. Blogging humorously about it. Taking lots of pix with my digi-bindi.
Being busy, happy and fulfilled.
Celebrating 40+ years of yearly Girly Parties (it’s a thang) with my girlfriends from college. In Thailand. (So, far, we’ve done it since 1993.)
I don’t think I could ever fully retire either. I love my job and I love being an entrepreneur. That said, there are so many things I would love to do if money was not an issue. The main thing would be that I would love to help people and the environment in one way or another. If I could retire with a bunch of money I would use my design skills to help non-profits and people. I would love to have a BIG garden, and allow the public to stop by, relax, and enjoy. I would also love to travel.
I don’t foresee ‘retirement’ in my future. Between the economy, long-term parenting obligations, and just being a lousy financial planner who would rather make stuff then retire…its probably not going to happen.
My hope is that I will be able to play with any ideas I wish. Build anything I design. Cycle through all of my renaissance souls delights. And continue to learn more and more.
I have a taste of what it is like to really do work that you love so I don’t think I will ever truly retire. My “work” might be more charity oriented at that time but I think that work is so good for the mind and soul that I always want it to be a part of my life!!
Honestly, I’ve not thought much about retirement. But, I am approaching two major life changes: getting married, and turning 30, and it my future is definitely on my mind. Honestly, I love what I do (metalsmithing) and imagine that I will practice as an artist and later as a teacher for many years to come, even into retirement age. My *hope* for when I “retire” is to stay physically active and be physically fit, as well as continue to teach and practice my craft. Retirement will simply give me the TIME to travel how I want to, and relax and enjoy my golden years. That’s the plan, anyway!
Great Article!
I don’t know that I will ever really retire – but, we need to be prepared in case we have to retire. I tend to think I will always have something brewing. But, 70 is not 35. Some people are tired at 70 and 80. It’s hard to say.
I do know a number of people that had to go out on disability when they were in their 50′s – and you can’t work after that. Some choose to stay on disability, others have to. I’ve been told you can’t even volunteer because if the disability insurance people find out they will pull your care.
Retirement isn’t always beaches and golfing and we need to be prepared. Hopefully we can all make it the some of the best days of our lives!
I can’t imagine retiring completely. But, I would like to have the option to retire, which I definitely don’t have financially at the moment. I also can’t imagine that my hands will still be able to take the work I do when I’m in my 70s or 80s, so I’ll have to be doing something a little differently by then.
I sculpt art dolls, design mixed media projects, teach art and write tutorials/workshops. I definitely see my business continuing on for the span of my life, but with varying focus. In the last year, I have been drawn more to electronic content–art lessons in pdf files and similar formats. I would like to eventually automate the delivery process for these files and then I see no reason why I cannot continue to sell them forever :]. I would love to one day be able to make art for just my home and family if I want to though as right now, I still make physical art to sell.
I know when I had my children, I craved more flexibility in my work schedule in order to spend more time with them. I imagine I might have similar feelings when I have grandchildren. So, to me, my ideal retirement might look like doing meaningful work that I want to do, including more teaching and mentoring, and spending as much time with my grandchildren as possible.
This is an interesting topic.
I am a new entrepreneur (my second career) and my first career was in non-profit management (animal welfare). So, the upshot is I do have some retirement savings, but not enough to retire fully and until my business gets up and running in the black I won’t be able to put aside more savings.
To be honest, though, I’m not sure a retirement with no work would suit me. My new career (goldsmithing/jewellery design) is one I can continue long into the future and that was one of the attractions. I would like to make enough to travel, and if I can dream a little, so that my husband can retire early.
I don’t know if I’ll be able to fully retire. I might limit my hours, volunteer, or do philanthropic work but I don’t see myself sitting on a beach for years on end.
Well, I’ll put it this way: I don’t want to work forever, in terms of the paycheck to paycheck, day to day way I & many of us currently work. I do want to create, to ‘work’ at what I love, in some way…I would always want to do something.
Awesome giveaway and topic to reflect on! Thank you! I was surprised by the number that never plan on retiring.
I’m addicted to learning and experiencing. So retirement would be all about adventure for me. Scaling back on the work, spending more time exploring and trying new things. My grandma is 93. She just gave up scuba diving a few years ago. She makes jewelry, throws pots, sings int he choir, and plays piano. It’s incredible! The list of things she still wants to learn is unbelievable. I love that attitude.
I am stuck right now with my career and business and I’m in my early 30′s… Its har to imagine retirement when I am so focused on the here and now. I hope that when i come to that point i will still have the energy to keep pursuing life with vigor.
Agreed…I don’t see retiring, instead, shifting how I spend my days to include more time for friends, family and hobbies.
I intend to make my knitting business my main income and really don’t see myself retiring. I love to knit, I love to create new knitting patterns. Heck, I even bring knitting with me on vacation.
I can on “hope” that I will have a retirement for myself and husband. I don’t want to plan that I will have SS when I do retire. My other “hope” would be to teach my daughter to make smart investments with her money as she grows. I didn’t learn any money planning until I grew older. Even now I’m still learning. I put just a little each week in savings and that’s all I can do. I’m self employed. I sell vintage clothing & now this year started to make pottery. I seem to cross my finger a lot and hope for the best. It gives me hope to see that I like some many others need some help and we can learn from each other! Keep moving forward
I’m building my business right now and hope I can live from it next year. Right now I don’t see myself retire. I think only physical conditions can hold me up to do my business until I die.
I would love to be at a point where I’m at retirement age with no desire to retire..
Until then, I should make sure I have a set pension plan!
I don’t think I’ll ever completely retire. I need to be making things, I can’t stop!
My plan is to build my business in a way that it can almost run by itself. That I don’t have to be there 24/7, that I can eventually do just the fun stuff like creating!
I have also started investing money in real estate with my boyfriend, which I want to do more of. Create passive income so I can travel and create forever!!!