A Reader Question: Ideal Retirement Plan at 65
A reader asked me what my ideal retirement plan at 65 would be. Let me start off by saying that my thinking is perhaps a little different than the normal person. I in no way envision myself working a 9-5 job for the next 30 years and then “retiring.”
An Alternative Plan
Instead, I hope to live a life that is characterized by non-traditional work opportunities. Perhaps some casual, temporary work such as helping with elections or a census or something like that. Maybe house-sitting? Driving for Uber? Filling in for an ESL Teacher? Online Skype teaching or tutoring? I’m not opposed to “work,” but I just don’t want to be tied down to a 9-5 with 2 weeks vacation since this is basically my worst nightmare.
Although online stuff is only a small part of my income these days, I hope to make it a lot bigger piece of the pie in a year or two from now, once I’m living in Canada. I currently have three books on Amazon and will have a couple more out soon, as well as various websites which are increasing in popularity.
The other way that I make money is through investing in dividend paying stocks. Each month, I collect between $200-$700. I’m currently reinvesting this, but I could live off this money if necessary and even sell the stocks in order to buy a house or something like that.
Retirement at 65?
So this leads back to the original question. What is my ideal retirement plan at 65? The short answer is that I don’t have one. I plan to work enough to live a comfortable life and no more, no less. If this involves working beyond 65, then that’s okay. Doing online stuff isn’t especially taxing on the mind or body and it should be easy enough to do this, assuming I’m healthy. If I start to make a lot of money from my online ventures, I can’t really imagine just “retiring” since I like to be so active.
The Plan: A Sustainable Life
My ultimate plan to live a sustainable life where I’m happy doing the work that I do so that I’m not desperate to retire. The day that I hate a job is the day I will no longer do it. This makes retirement far less attractive for me than it does for the guy who dreads going to the office every day.
Finances for English teachers abroad: The Wealthy English Teacher: Teach, Travel, and Secure Your Financial Future