We've spoken here at Money Glee about if $1 million is enough to retire however is retirement simply a number?
When the word number is used what does this actually mean?
What we mean when we talk about retirement, numbers and money
Numbers are used all over the place by young and old, guys and girls, east and west, what do they really mean and what do they have to do with retirement?
Imagine you're at the grocery store and you need $45 to pay the bill. This number means that you owe a certain amount of money to pick up the goods that you have purchased.
Let's talk about this from a retirement perspective. While when you're at the grocery store it is generally black or white (unless you want the police called) and you need to pay the bill. Retirement is a number that has been artificially created, Mental Floss mentions it was started by the Germans in the late 19th Century. Considering this why do we pay as much attention to something that:
a) was created over 100 years ago - which doesn't necessarily disqualify it although should be considered if it is still appropriate for modern society
b) was used as a means to satisfy people and gain popular public opinion
What is being said here is that retirement genuinely is an artificially created number by one country in the 1800's. Despite this, we're accepting that people need to retire and that a person has a used by date.
Once you start to realise what is being said you'll realise that you really have the choice when you want to retire. The secret is while this sounds easy, what is easy to do is also easy not to do.
Key Take-aways from this article
- Retirement is simply a number artificially created over 100 years ago in 1 country
- If you want to plan to retire earlier or later, start planning now and work backwards
- It is not as hard as you would think although it will require you to watch 1 hours less netflix per week*
Over to you, what are your thoughts on retirement? Are you planning for retirement? What are you doing for it?
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Remember to live your Money Glee! :)
* You can watch all the netflix you want when you "retire" ha