Monday, September 6, 2010

1000 Days to Retirement!

A couple months ago, I sat down with my new bride to talk about some near-term and more distant goals.

And somewhere along the line, in thinking about where we wanted to be at any point in the future, the idea crossed my mind of a "thousand day goal".  So I looked at the calendar to figure out where 1,000 days out would put us, and realized, that's around the time I will turn 62.

That's sort of a magic number for a few reasons.  One, of course, is that 62 is the earliest age that you can retire and draw regular social security benefits.  Another is that we have a 3-year commitment to remain in the house that we bought just before our wedding, and that will be up about that time.

But my thoughts around goals were motivated by the realization that I may not always be able to work and/or able to find work.  Don't get me wrong, I'm a diligent worker, and can't really picture myself "retired" in the conventional sense - sitting on the front porch in a rocker admiring the scenery.  I'm pretty sure that as long as I'm able, I'll be doing something that is, in some sense, productive.  But there are two issues. One is that I have no guarantees of how long my health will hold up.  God has blessed me in my recovery from cancer with very few lasting side effects of consequence, but I know that during the time I was sick and for a considerable time afterward, I was completely incapable of working.  And I realize now that, the older I get, the higher the probability that I may be in that state again someday.

The second consideration is that it's becoming more and more difficult to find someone that wants to hire me to do the work that I do well (software development). There are many reasons for that.  Partly, my years of experience are a double-edge sword.  I'm very good at what I do, but often employers would rather hire someone less experienced (read "younger") and cheaper.  Currently, I'm being well-paid on a contract.  And the expectation is that the contract will continue for a relatively long time.  But things change, and, especially in independent contracting, there are no guarantees.

So the goals that I wanted to set for the next 1000 days are to get myself in a position where I have sufficient income coming in to live comfortably, and have that income not be dependent on my working on an hourly or salaried basis for anybody else that can tell me I can't work for them anymore.  Contrary to what I had expected earlier in my life, that income probably won't come from investments, because most of my retirement "nest egg" was wiped out by the expenses of fighting my cancer.  But there are other avenues.

I'm looking at a couple different activities that will generate an on-going stream of income, not necessarily without my working, but without my "clocking in" on an hourly business with some one.  The thing that these activities have in common is that I can do them from just about anywhere that I can get consistent power and a reliable internet connection.  So we're free to move just about anywhere in the US, and most places in the world, if that's where we feel God is leading us.

Check back with me later, and I'll try to keep you posted on how it's going.