When I ask employees
what they’ll do in retirement,
they usually reply with a wide grin
and an enthusiastic “Nothing!”
When I ask entrepreneurs
what they’ll do in retirement,
they usually outline
some charitable or financially risky project
they’ve always wanted to work on.
George Lucas is a great example
of a retiring entrepreneur.
He is retiring from his Lucasfilm empire
to make experimental movies
in his garage.
He’ll likely be working harder
in retirement
than in his current position.
I ‘retired’ from business
to build an author brand,
a process requiring an even more hectic pace
than my business career.
I LOVE the work though
and I would never choose doing nothing
over writing and selling and promoting stories.
Retirement for entrepreneurs is different.
Remember that when planning for retirement,
when making promises to loved ones,
and
when planning your careers.
Hi K,
I think many employees would like to retire to be entrepreneurs. The question, however, is if they can adapt. After years of conditioning, and receiving a slow but predictable income stream, embracing risk can be paralyzing. At the same time, the way 401Ks are performing and the dismal job market mean that the percentage of people who can retire to do nothing is shrinking, and entrepreneurship is becoming more attractive (and that’s a good thing, after all). Interesting topic…
Love your blog, by the way. I especially admire your consistency, publishing great stuff every single day!