I found a number of interesting points in this Yahoo! Finance article, written by a Gen X/Gen Y professional.

“I don’t consider a retirement as a time to do absolutely nothing; instead, I view it as a time when I can do more of what I want.”  What a great concept and perspective.  A time to do more of what I want — and therefore look forward to it!

“As someone who likes to stay busy, part-time work (or activities that will earn me some sort of income) will likely be part of my life until I die.  Therefore, I may be able to retire earlier than some, while still earning an income.  In the past, this may have been more of an all or nothing proposition, but with the ability to work through the internet and travel at the same time, it’s opening up a whole new retirement option … the working retirement.”   He nailed it!  When I talk with successful people, one of the things they want is a better balance of life — and getting away from being tied to a rigid schedule.  Advances in technology give us global freedom; and social acceptance of virtual meetings is here!  It is good for the ecology, and good for the people.

Trying new things.  The writer believes that “while stocks, bonds, pensions, and Social Security benefits can be strong elements of retirement finances, having something to hold onto and utilize as a way not only to possibly generate income … but to reduce expenses adds another integral part to how I hope to redefine our eventual retirement.”  

Some might call these “performing assets.”  His point is not about simply reducing expenses and living a more spartan lifestyle.  It is about deploying your assets in a way that cover some of your costs.  Many of you have a second home — which you rent some of the time to defray the costs.  Others are using new services like HomeAway to exchange use of their home (or second home) for a week or two with someone in Italy, or wherever.  Taking this to its limits means looking at deployment of your capital just as you would as a business.  What strategy gives you the greatest return — not just in income but bottom line?  Can you use some of your resources as a piece of the puzzle fueling your passions and contributing to your independence?

We are in an era, for many reasons, that provides an opportunity to think differently — and act on those thoughts. The questions continue to be how do you think differently, and when do you begin?  When you are ready to focus on those questions please give us a call — just to chat and share your thinking.

– Jim Deupree