The definition of retirement in laymen terms – Having more money coming in than going out without having to work.
When will you retire? Will you follow the norm and retire by age 65? Or will you choose your own destiny and retire at a younger age?
Hi, Jay Massey here with the CashFlowdiary.com, with another quick tip about real estate and business.
Have you ever wondered what retirement is, and why that's even important? What do you mean when you say, “I'm looking to retire”?
Most people when they say that, they have something in mind, usually an age. Who said retirement happens at age 65? Who made that decision? Was it you? Is that when you want to retire, or do you want to retire sooner?
Here's a new definition for you that I think you might like. Retirement is simply having enough money come in than goes out, without working. Let me say that again. You can retire when you have enough money come in than goes out, without working.
What you consider work and how much money, all those things; that's relative terms. Those are things you get to define later.
Here's the point: Is there anything illegal about retiring at age 18? How about 28? How about 38?
Some of you are watching this video like, “Dude, go higher, faster, please.”
Okay. 48, 58; you get my point. It has nothing to do with how old you are, because you may have noticed that there are some people right now who don't have the ability to ‘retire' even though they are above that magic age, whatever that magic age may be; be that 59½, 62, 65, full retirement at 67.
That's not the point.
The point is retirement is a relatively new concept. We get to define what it is. Don't let someone else define it for you; you define it. When do you want to retire? What's your plan for getting there? How are you going to do that and stay in control of the process?
I think one of the major skill sets that most of us must gain is learning how to become better cash flow creators.
If you like this information and want more of it, feel free to check us out on our website, at CashFlowDiary.com, or you may want to check us out on the podcast inside of iTunes. You also can find us on Facebook. For some of you, you may want to take advantage of our introductory course, Cash Flow Foundation. It's the beginning of our Cash Flow Creation System, that'll teach you how to never need a job again.