Retire first then get rich

The problem with a job is that it gets in the way of getting rich.  I have always thought this.  We all wake up and give our best most energetic and focused hours to our employer then expect to work on our own projects when we are tired and worn out at the end of the day.  There is a better way.

I recently started reading the book Retire Young Retire Rich by Robert Kiyosaki.  At the same time I also listened to the most recent BP Podcast Episode 293 “How to Retire Early with Real Estate” and was blown away that they both were saying the same thing.

The premise of the book and that podcast is that you retire yourself by replacing your working income with either passive or business income.  It doesn’t have to be passive.  Everyone wants passive income but the key is just to replace the income you get working under someone with income you earn working for yourself or just to be in a state of early retirement from whatever means.

Retirement 

A lot of people hear the term retirement and they think “that means I don’t work”. No retirement means you don’t have to work. Just because you don’t HAVE to work doesn’t mean you don’t work. This is because in a lot of ways work isn’t just about YOU. Work is bigger than the check, your personal expenses and all those things.  This is why people on welfare lose.  People on welfare lose because they get money and they don’t get skills, responsibility or the drive.  This then translates to their children who don’t have a parents with either of the above.  Thus those kids tend to under perform. I am against welfare because it degrades the race by degrading the people that make up the race.  The think they are winning but that’s selfish.

Already retired

Many people are retired but they are using their retirement to veg out and are wasting their best years.  These are years that they can work to ensure that their kids kids never have to struggle like they did.

If you are retired and able bodied don’t use that time to catch up on tv and veg. Use that time to create  your legacy through business ownership, investing, working in your kids business or what have you.  Sitting around collecting a check serves yourself and your life should be bigger than yourself.

Most people

Most people who are inclined to do the things that allow them to retire early aren’t going to sit still for very long.  In the book RYRR Robert sold his company and then went on a year vacation.  He was bored out of his mind.  This is because work is human nature.  There is nothing wrong with work. There is something wrong with being diminished, downplayed and living in fear of losing your precious paycheck if someone decides they don’t need you anymore though.  The two are not the same.  Too many of us connect money to job and that is a poor way of thinking.

The goal is to free yourself from having to work even if  you decide to work.  When you get to the point of not having to work you can still work but you have a different type of pride about yourself, you put up with less and you in turn get more respect.  Working is not bad, HAVING to work is bad.  I have found that people tend to treat those that don’t need them with more respect than those that do.

How

So how exactly do you do the things that you are talking about Charles? Well there are a few ways.  I mean some people area already retired.  Either they had a county job or they live on section 8 with food stamps or they just worked and saved and invested well.  Or they could have bought multiple properties.  Now is the time that you get rich even if you are retired.  Now is the time that you use all that high level focus that you were previously giving to your employer and build a business around your passion.  NOW is the time you get to “follow your passion”.

First you get retired, then you follow your passion.  Too many of us have that mixed up.  Too many of us follow rap and sports and dance and then at 40 have to work in a warehouse.  Flip that on its head.  Hustle for retirement then follow your passion forever.

Mind shift

The biggest mind shift here is that you don’t have to be rich to retire.  So many people think they need 10mm to retire then they do the math and realize that they can’t ever get to 10mm.  This is someone who lacks financially knowledge.  You need much less than you think you need and you definitely don’t have to be rich.

Retirement can look like a lot of things working at one time.  It can be a paid off home that you can knock out in less than ten years, it can be a paid off car, cash flowing rental property or business income or all of the above. Just know that you don’t need to get RICH before you actually retire.  That is an ignorant line of thinking.

Retirement is actually closer than you think if you play the game right.  The thing is that you can’t listen to the people selling you the dream.  The people who tell you to pay the house off in thirty years will keep you working for thirty years.  If you save and invest long term you will have to work and invest long term.

This paragraph was significant because so many of us think freedom follows riches when in all actuality freedom follow retirement and riches follow retirement.  Get retired and then even if you don’t have riches at least you aren’t stuck working under someone that rotates between insults and compliments and keeps you on a leash telling you when you can and can’t do something like they are your father.

There is so much to take from this but the main key is to retire yourself through strategy and then go all in on the things that will make you rich like your business and your property. Retire yourself and then build the business.  This isn’t the only way but it is a way. Retirement is the beginning not the ending.

If you are interested in investing with our club on either the stock or real estate side we would be happy to welcome you into the partnership.  Email membership@capitaltodd.com today to join.

We have an amazing course that will teach you all you need to know about how the stock market works and you can find that here: https://www.udemy.com/what-they-didnt-teach-you-about-money/

Thanks for reading!

Be great, invest well,

Todd Millionaire

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