According to a survey conducted by the small business center, close to 50% of all entrepreneurs believe they will retire at 65 or not at all - some due to the fact that they love what they do and others because they can't afford to retire. Most entrepreneurs cannot afford to retire because they are not saving any money and putting money into their 401K plans.
It really surprises me because I thought most people go into business for themselves so that they can get away from the 9 - 5 rat race and live more comfortable lives. I consider retirement to be a time when you don't HAVE to work but WANT to do whatever it is that you like doing - even if this is the work that you do on a daily basis.
Whether you are an entrepreneur or not there is no reason not to contribute to your 401K, 403b, or whatever plan your company has. I know, i don't want to work at mcdonalds at age 70. I don't need to be rich but at least comfortable enough to live a decent life.
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3 comments:
My grandmother didn't retire from nursing until she was just about 80, its 6 years later and she is the healthiest person I know! (knock on wood!)
What I meant to add on to that last comment was I think work keeps you young and active. People who retire and sit around don't seem to fair well, in my opinion.
I think you are absolutely right. I would still like to retire and do something that I love.
People always say do something that you love as your regular work but that doesn't work for a lot of people during their non-retirement years.
I would never sit at home and watch Oprah all day. I think everyone needs a purpose - a reason to wake in the morning.
I remember the 104 year old man that worked at the bus depot, who retired last year. He died like a month after retirement and he seemed healthy as a horse.
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