How to Retire With No Savings

Editor's note: This week, Steve has shared some of his best advice for living a better life. So far, he has covered the Sjuggerud Advantage and why the ultra-wealthy continue to work long after they need to. Today, he explains how to retire without worrying about money…
 
"Do you have any savings?" I asked my friend Tony.
 
"Not really, no," he answered.
 
Tony is in his 50s. And he didn't sound worried in the least. How is that possible?
 
I was surprised Tony was so relaxed…
 
My wife, for example, couldn't consider living like that. My wife is hardwired to save instead of spend. She really doesn't spend. And even though we have saved and invested well… she STILL worries.
 
When Tony quit his job, he sold off a good deal of his possessions to finance living his dream.
 
Tony now builds extremely fine guitars. He has earned critical acclaim. He's doing what he always wanted to do. And he intends to do it for the rest of his life.
 
I visited Tony in Indiana so he could help me build my own guitar…
 
"This is my retirement," Tony said, pointing his arms around his shop.
 
"The Larson Brothers built guitars until they died in their 70s," he reminded me. "And John D'Angelico and Jimmy D'Aquisto built guitars until they died, too." Tony intends to do like these legends did.
 
He had a "good" job as a computer graphic artist. And before that, he worked as a cabinetmaker. But making cabinets or pushing a computer mouse were not what he wanted to do with his life.
 
Guitars were always his passion. He'd been building and tinkering with them since the 1980s. So he took the leap. If it didn't work, he figured, he could sell off the contents of his guitar workshop and return to being a graphic artist.
 
I am not as bold as Tony. But I do admire him for following his passion. He took what must have seemed like a huge risk. But now he's able to say something most people will never be able to say… He's living his dream, doing what he wants to in retirement.
 
Tony has "retired" with basically no savings. And yet he is happy, because he has set himself up to do what he loves for the rest of his life.
 
Is following your dream worth a shot? Can you turn that into a way to make money? If it doesn't work, do you have something to fall back on? You only live once… Think about it.
 
Good investing,
 

Steve

 

Source: DailyWealth

Published by

wpengine

This is the "wpengine" admin user that our staff uses to gain access to your admin area to provide support and troubleshooting. It can only be accessed by a button in our secure log that auto generates a password and dumps that password after the staff member has logged in. We have taken extreme measures to ensure that our own user is not going to be misused to harm any of our clients sites.

Leave a Reply

Your email address will not be published.