This Article Is Wrong… But Also Shows You How to Be the 1%

I’ve never been so mad at an article, but Time’s “The Ages When Most People Retire (Hint: Probably Too Young)” takes the cake…  F you Dan!  I disagree with him because everyone should aim to retire younger – when you’re usually more capable of enjoying it!

But Dan has a point… a lot of Americans financially shouldn’t retire when they hit age 66.  But why?  Mostly because their nest ages are, as Dan describes, “puny.”

Think about it.  It’s pretty fucked up… after age 66 there probably aren’t very many golden, healthy years to enjoy, and if you have no choice but to keep working for money ……… damn, I hope you and I never get there.  Who wants to be an indentured servant with no choice but to work to survive?

And guess what… 33% of Americans wait until or have to retire after age 70.

LIMRA chart.

There’s one interesting tidbit in the article, however.  Only 1% of Americans actually retire before age 50.  Being the 1% doesn’t mean wealthiest 1%… it just means being in the 1% who get to chose to retire when you want to … before age 50.

Yes, of course some people work because they want to work, but I bet you if the other 99% were given a choice, many would choose to be in the 1% if they could.

In any case, being in the 1% is totally achievable if you want it.  It’s easier the earlier you start, the smarter you work, and the more you make.  Here are three steps you can take now:

#1. Pay off high interest debt and take advantage of tax advantaged investment instruments (aka, maximize those damn retirement accounts… if you can afford to sock away $23.5k a year but aren’t then you’re unnecessarily prolonging your financial freedom).

#2. Increase your income and increase your buying power.  You can also think about how a side hustle, over time, can help you reach an extra $1mm on retirement.

#3. Don’t let holding cash hold you back (but don’t invest it stupidly either — I guess that’s easier said than done).

And finally, subscribe to this blog!  Kind of kidding, but not really.  Maybe there are some ideas that can help you double your money once in a while here.

What are you doing to get to the 1%?


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