Many people have the misconception that early retirement is just giving up and being lazy. While you can in fact just be lazy, the mentally sound and healthy way to live a retired life is to pursue your passions. At times, if you do so you can go after grand life goals and/or help others in the process. These endeavors can lead to a longer life and be very rewarding at the same time.
Poliquin everybody does beat the bush today i’m going to talk about what the meaning of early retirement is when i tell people all about this concept of early retirement most people would just ask me what the heck are you going to do after you stop working it says a bit such a radical thought that they cannot even comprehend what the heck you would actually do
After you don’t have a job it is true that a lot of people’s identity will actually be lost if they no longer work anymore in fact some people might actually have a hard time taking vacation even because they end up staying at home and they don’t know what to do with their time for some people taking vacation might be actually a really horrible thing to do because
They find themselves at home with nothing to do and getting bored now if you think about what really means for early retirement a lot of people that does do this they end up doing things i actually enjoy for example bubble gum starts his own shrimping business and has a successful business doing that what he likes my spanish teacher a long time ago even started
Her own all the farms that actually can make olive oil this is after doing all this teaching earning money and stuff but i’m sure after starting her own business she is likely making more in her business then when she was actually working with those who might take a moment to think about what you would actually do if you actually had all your expenses paid for and
You didn’t actually have to worry about rent your living cost and your place to stay it’s all covered you do not have to worry about this what would you do if you didn’t have to worry about all those expenses i asked friends about this all the time and half the time they wouldn’t really know what they’re going to do because they actually never thought about it
The other half of the time i actually would get an answer and this gives me a really good idea what they really want to do with their lives what they’re actually passionate about now if you prefer to just keep on working because you really like what you do well you might be actually already retired because if you’re really happy with whatever you do and you don’t
Mind hours or anything then you could kind of consider this already retired because you’re doing what you love my argument against this train of thought is that when you actually have a job you have to follow the rules you cannot actually go and do what where you want it all comes down to the requirement of doing your assignments at a certain pace and you’re not
Actually your own boss you have to do what people are telling you to do rather than your doing having some idea somehow and then you’re going after doing it even though it does not make you any money at all now when you retired early actually have enough passive income to supply all your daily needs including living cost and your place of state this means if you
Have everything covered that you can actually just bum around and do nothing productive you can just sit around watch tv eat pizza drink soda you can just play video games all day and just do nothing basically you can just sit there and stare at the wall and the money will keep on coming in to pay the rent and then to pay your food that you need you could definitely
Do that of course and you might actually do that for the first few months of retirement just to kind of reset yourself and relax a little bit first however to me i think if you do this for an extended period of time your brain is going to melt away in because you’re not really using your mind and you’re not really actually doing anything constructive so if you’re
Shooting for early retirement you really have to have a plan of what you actually want to do once you do retire you need to find your passions of what you’re actually going to do maybe it’s spending more time with family or maybe it’s spending more time on hobbies that you like you could also spend your time volunteering more because this is actually helping others
Or maybe you have a very big life mission that you want to accomplish maybe something big that you want to pursue that you could not otherwise have done if you have to keep on working 40 hours a week now i truly truly believe that if you work on something that you have a passion for you’re going to get better at it no matter what as the saying goes if you spend
10,000 hours on it you’re going to be an expert at it and when you’re an expert at that people are going to pay you for it and then when people are going to actually pay you for what you do as your passion that you love then i highly believe that you’re actually going to make more then before you actually retired this actually means that if you actually have faith
That your passions are actually going to turn into a moneymaker then you could have actually retired a lot earlier than actually reaching retirement first and then pursuing your passions this all means it’s sort of like a leap of faith do you leave that this is something that can be done or not on youtube you hear a lot of people that goes all follow your passions
Your eventually going to make money etc but my view on this is yeah you can do this but it might take a really long time to ramp up to a point where it’s sustainable so the best thing you can do is probably follow your passions outside your day job and then let it ramp up and then as you’re able to make a little bit of money and it gains traction then you can kind
Of realize that whatever your passions that you’re doing it’s kind of proven out and you’re getting a little bit of traction maybe getting a little bit of income from people that recognize your abilities and they’re paying you for this then you can eventually switch over to your passions instead instead of taking a giant leap of faith which is a lot more riskier
Than just you know doing this gradual transition at the same time here earlier retirement could also mean part-time work because if you’re doing your passions and you’re only making a little bit not enough to sustain yourself but if you have enough of an investment portfolio but it does not quite meet your daily needs you can actually work a little bit on your
Passion so that you can make a little bit of income so that it makes ends meet then that also means that you can retire a little bit earlier than you thought this is all really just saying that if you make a little bit of money then your passive income requirement will be reduced a little bit as well which means you can retire a little bit earlier if you plan to
Do part-time work after you retire so my idea of early retirement does not necessarily mean just sit around all day play video games and just being lazy it means completely opposite of that because to be if you retire early it might actually mean working more than 48 hours it might actually when you’re doing your passions you might actually do i don’t know 100
Hours because you love it so much you become a coholic at it that to me is my idea of early retirement do you ever remember working on a hobby so intensely that you actually forgot about time and sometimes actually needing to use the restroom while you’re working on the hobby actually becomes annoying because you’re like why do i have to go to the restroom so
Often i want to stay here and work on my hobby some more hours and hours will pass buying you’ll even notice it and it becomes like three or four in the morning while you’re working on this thing that you really like that to me could be one of your passions because if you can work on something and you forget about time that is a really good indicator that that is
Your passion so i’m interested in knowing what your passions are don’t forget to give me a like on this video comment down below let me know what your passions are that you forget your time if you’re interested in supporting the channel don’t forget to check out my audible link down in the video description below where you can get a free audiobook in the subject
Of your favorite passions of course and if you don’t like this book or the service you can actually cancel this before the subscription expires and you don’t have to pay a thing and you can still help benefit this channel i also have a 30 day free chopper we gamefly down below where if you just got into retirement maybe you just want to play video games all the
Time you can try out the subscription service and try out this game for free for 30 days and if you don’t like it you can also cancel that and not pay a thing i also have the pay channels subscribe thanks for watching
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Early Retirement is Not Being Lazy | BeatTheBush By BeatTheBush
