7: Your Retirement Plan is For Shit.
I don’t care how much you set aside for your 401k.
The whole myth of savings is gone. Inflation will carve out the bulk of your 401k. And in order to cash in on that retirement plan you have to live for a really long time doing stuff you don’t like to do.
And then suddenly you’re 80 and you’re living a reduced lifestyle in a cave and can barely keep warm at night.
The only retirement plan is to Choose Yourself.
To start a business or a lifestyle where you can put big chunks of money away. Some people can say, “well, I’m just not an entrepreneur .”
This is not true.
Everyone is an entrepreneur.
The only skills you need to be either: an ability to fail, an ability to learn from those mistakes, to execute quickly, and to be persistent so even as you fail you learn and move onto the next level.
What is your other choice?
To stay at a job where the boss is trying to keep you down, will eventually replace you, will pay you only enough for you to survive, will rotate between compliments and insults so you stay like a fish caught on the bait as he reels you in.
Is that your best other choice?
You and I have the same 24 hours each day. Is that how you will spend yours?
“I’m too old”. “I’m not a entrepreneur.” “I need the insurance.” “I have to raise my kids”.
I was at a party once. A stunningly beautiful woman came up to me and said, “Mike, how are you!?”
WHAT? Who are you?
I said, “hey! I’m doing well.” But I had no idea who I was talking to.
Why would this woman be talking to me? I was too ugly. It took me a few minutes of fake conversation to figure out who she was.
It turns out she was the frumpish-looking woman who had been fired six months earlier from the job we were at.
She had cried as she packed up her cubicle when she was fired. She was out of shape, she looked about 30 years older than she was, and now her life was going to go from better to worse.
Until…she realized that she was out of the zoo.
In the George Lucas movie, THX-1138 (the name of the main character was “THX-1138?) everyone’s choices are removed and they all live underground because above ground is “radioactive”.
Finally THX decides better to die above ground than suffer forever underground where he wasn’t allowed to love. He wasn’t free.
He makes his way above ground, evading all the guards and police. And when he gets there, it’s sunny, everyone above ground is beautiful, and they are waiting for him with open arms and kisses.
The excuse “but it’s radioactive out there!” was just there to keep him down.
“This is easy for you to say,” people say to me.
“Some of us HAVE to do this!” The now-beautiful woman had to do it also. “What are you doing now?” I asked her. “Oh, you know,” she said. “Trading.” But some people say, “I can’t just go out there and start to trade for a living.
What does that even mean?”
And to that I answer, “Ok, I agree with you.” Who am I to argue?
If someone insists they need to be in prison even though the door is unlocked then I am not going to argue.
They are free to stay in prison.
9: Its ok to take baby steps….to be continued