Planning to retire at 60 or 65 and live on savings and investments built up over your working life is majorly flawed.
Members of The Rat Race usually work on average forty hours per week, five days per week, forty eight weeks per year. If they started work at eighteen and then finished at sixty five, that’s forty seven years of good life, good health and precious time WASTED away!
There are two scenarios which members of The Rat Race (who work for someone else) usually follow:
Scenario 1: They work harder than their peers and give 100% commitment and make personal sacrifices to reach targets. They are ambitious, yet stressed and harassed most of the time. Working long hours takes its toll both on their family unit and their health. Retiring at sixty five then comes as a big shock. They find it difficult to sit doing nothing, they bore easy and feel like a spare part. Maybe they take a part time job to both keep busy and pay for rising living costs. What ever happens, the working life they led finally catches up with them and they die prematurely.
Scenario 2: They spend the vast majority of their working life totally dissatisfied an unhappy with the fact they have little prospects. They hate to get up in the morning, they hate their work colleagues and they hate the measly pay cheque at the end of each month. Eager to retire young to start to live life they find their physical capabilities have somewhat deteriorated. Due to a lack of ambition and motivation throughout their career; rather than visiting exotic destinations, they struggle by in life to pay for even the basic amenities. Again they die shortly after retirement.
Either scenario is a waste of life. Life is for living, not for working!
It’s worth mentioning at this point that there is in fact a 3rd scenario, which includes a person who has actually taken the massive step to start their own business, yet is still fundamentally trapped in The Rat Race. Why? Because they failed to take their business to the next level which is automation. They still experience the key features of the above scenarios but if they achieved great successful, they then had a more money saved for their retirement.
If reading this and you are a member of The Rat Race, which category do you fall into?
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The first few years of my working life were spent making someone else rich. I took the decision at very early age to make my own money. The early years were hard, and I learnt most business lessons the hard way; success was not easy. In other posts I will show ways to find a niche product or service to generate your own passive income. It’s also important to remember from the start that you do not need to make a million pounds to maximise on life.
Today as a Rat Race Winner, I use systems and automation to break free from mundane duties so I can concentrate on doing what’s important both at business and in life. I work on average six weeks and then take six weeks off to concentrate on self improvement and relaxation; I call these breaks ‘Efficient Retirements’. Having a good work/life balance is important for contentment on longevity.
The six weeks I do work are both a challenge (all humans need a challenge) and fun. The duties I undertake maximise my natural talents/abilities and therefore I excel in these areas. The duties which I am poor at I delegate to people with the skills to complete the task successfully.
Then through effective time management I can complete a long list of commitments and tasks in a tenth of the time it would take an unorganised person to complete. I will show you these techniques in other posts.
The six weeks I take off are filled completing my personal life ambitions, which include mental and physical improvement, spending quality time with loved ones and also visiting new countries and embracing life and all it has to offer.
There are massive errors with retiring at the later years of life. It’s totally and utterly illogic! The contrast is vastly different between life in The Rat Race and my life as a Rat Race Winner, and once you experience life outside of The Race, you will never look back or have regrets.
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[...] is majorly flawed. Why wait until then to start your life? Start your life today by taking ‘efficient retirements’. These are basically mini retirements of six to eight weeks; after the same periods of work. To be [...]