The other day I was talking to a friend of mine and discussing retirement options. We came to the realisation that all these retirement funds you cant access till atleast 65, without incurring any penalties. He made the point that though the accounts are great for retirment because of the perks, we dont want to wait till we are 65+.
We want to have the OPTION to retire whenever we want and not be fixed till later life. When the average life expectancy is almost 81 years, that doesnt give you a lot of time to enjoy your retirement when your at that age.
Ofcourse I dont recommend not paying into a retirment account like the workplace pension, the point is that this isnt the only way of retiring. I dont want to be working till I'm 65+, I want to have the option to retire when I choose through hard work.
This is the reason why i invest in dividend paying stocks, creating a dividend income creates a new source of income. Invest enough and invest cleverly you are able to replace your active income (working) with the passive income of a dividend income.
Creating your own income sources and not relying on work is where real freedom will come from and you have the opportunities are endless once you start to work your way out the rat race.
Do you really want to work till 65+ or do you want to have the option to retire when you please? Knowledge is power, investing and financial literacy brings wealth, with these it shall bring us much more financial freedom than the 9-5
Evaluate your goals, for life and retirement, and see if your on track. If not you have the chance to change course and change your life.