If you remember, a few months ago, I started talking about retirement. I shared that 80% of the people who are wealthy got that way through their retirement savings account. And we went step by step through how to set up your own. We also talked about finding a happy medium: Saving for retirement, but saving enough for emergencies, first. But I took a break from retirement to put more focus in these letters on things like the holidays and tax season. Today, I want to go back to retirement. But not in the same light as before, because I realized something: I can’t retire… Never Retiring I can’t retire, because I finally found what I’m passionate about. I remember being in high school, wondering why some of the adults I would overhear kept talking about what they’d do if they won the lotto, or how they can’t wait to retire. At the time, I was just a student. I thought: I don’t need to be rich. Money isn’t everything. But after graduating from high school and going on to college… and graduating again, and so on, I had to grow up. Find a job, move out, pay bills. Now, some jobs I had were great. I met great people, I enjoyed what I was doing, and I was making ends meet. But after a while, I started to think the same thoughts as those adults I used to overhear. And I understood why they were itching to hit the jackpot and never have to work again… Before I go on, let me say this: There’s nothing wrong with retiring. Hard work deserves rest. Time to relax and enjoy the little things. But there’s also nothing wrong with working, either. This was my problem: My work wasn’t fulfilling. Even if I was told I was doing a good job, something was missing. My passion. It wasn’t until a few years down the line when I discovered that there were a couple things I actually enjoyed doing. That I actually did have gifts and talents. That I did have passions. That I did have a purpose. Encouraging others… learning and sharing about how to handle money… writing. That moment I realized that God gave me dreams, passions, purpose… was the day I started to look toward doing something new in my life. It was the day I had a different outlook on work. It was the day I realized I cannot retire.
Working Can (and Should) Be Good “When you find something you love to do, it no longer feels like ‘work.'” I don’t know how many times I heard that in life. But I heard it a lot. And I believed it… I just never believed it was ever going to be true for me. Now, it is, though. I know that statement is true because I’ve now seen it for myself. I get to write and talk about real-life issues, like money, and I get to share it with others like you. Why would I ever want to stop? That’s why I can’t retire. I’m now okay with working for as long as I’m able. Why? Because I finally found work that’s good. Yes, it’s work. But I enjoy this work. Work isn’t supposed to be punishment. It took me a while to realize that. Work is supposed to keep you fresh, sharp, busy. It’s supposed to show you what you can’t see doing nothing. It’s supposed to build strength and character. And now that I know that, there’s simply no way I can retire. It’s What You Make It Don’t get me wrong. Eventually, I will retire from some work I’ve spent a lifetime doing. But just because I may retire from some work, it doesn’t mean I need to retire from all work. Society has painted this picture that we have to retire at a certain age, with a certain amount of money, and do certain things, like play golf and travel. But retirement isn’t the picture society paints for you. It’s what you paint for yourself. Stop believing that you have to retire. Because you don’t. Choose to work as long as you want to. If you’re struggling with what I was not too long ago, not feeling fulfilled with your job, start off by having open, honest conversations with the people closest to you. Just a few minutes of me sharing my thoughts with my cousin is what helped me realize the passions I had that I couldn’t see on my own. Don’t be afraid to be transparent. If you’re already retired, that’s perfectly fine. There’s nothing wrong with traveling, playing golf, watching TV, or any of that kind of leisurely stuff. Just remember, this could be your time to try the things you never had the chance to while you were working so hard all those years. Maybe your “work” can now be something part time. Maybe your work can be devoting some of your time to a charity. Maybe your work can be traveling to other parts of the country—or the world—to help the less fortunate. Now, you can live in your career as long as you want, and you can retire as early as you want. Either way, you can still save for retirement. Even though I’ve decided not to retire in the traditional sense, I’m still going to continue to contribute to my retirement savings. And you should, too. Because, if you retire and decide to do another kind of work, say, missions trips or volunteering at a homeless shelter, your retirement savings will help you afford your lifestyle and support your endeavors.
Remember, after you get out of debt and have three to six months’ worth of living expenses saved up, saving for retirement would be putting away 15% of your pay (before taxes).So, keep saving. And keep dreaming.
Dream about the work you want to do. And dream about what your version of retirement will look like.
Whatever it is that you decide, just remember that your retirement is what you make it.
With gratitude,
Melody C. Kerr, MS
Writer, Editor, Financial Coach
