We’ve all heard of someone saying or some of us even aspire to get rich so that we can retire young.
But actual millionaires usually do quite the opposite, studies say.
Millionaires Never Retire!
We’re all humans, we all strive to work hard and earn our keeps in order to retire young or retire comfortably.
On the contrary, according to studies, real life millionaires think quite the other way.
They never retire!
Based on a new survey from Merill Lynch and Age Wave, millionaires are more likely to work continuously throughout or during the age of retirement, as compared to the rest of the population.
You may ask, why work when you have more money that you can ever spend, and you are set for a comfortable life? That is because most millionaires love what they do, and they enjoy doing what they do. Close to one-third of the individuals polled with $1 million to $5 million in invest-able assets are still actively working during their retirement, and according to surveyors, it is because “they want to”, as compared to the 15 percent of retirees who have less than 250 grand who are still working to make ends meet.
In today’s society, relaxing on a beach and enjoying a glass of pina colada is a luxury the rich can afford, but not what they earn for. These people are strivers and they strive to win and over achieve, even if they have already succeeded in doing so. They continue to work and run the businesses they started mainly because they want to remain mentally active, fit and youthful, and it gives them a greater drive than working for the money.
Though that is one of the reasons why the rich keep working, there are other reasons that drive them to do so. As much as half of the affluent retirees own their own businesses and they work for themselves. They set their own paycheck, working hours, goals and directions, and this proves more enjoyable than reporting to a cubicle on time every morning.
Close to half of the wealthy retirees went on a break from work when they retired initially, some even turn to coaching or business consulting. Studies define this as “career intermission”. It is an opportunity to relax, recharge and find a new direction or career. While finding a new career, it may not necessarily be as demanding as their previous endeavor. About 50 percent of wealthy retirees have successfully transitioned themselves to a new direction that allows them more “fun”, “flexibility” and “fulfillment”.
Hence, millionaires work more in their retirement, but their “work” in this case is much more enjoyable than their initial career.
As the saying goes, “if you love what you do, you never have to work another day in you life”. So ask yourself today, do you love what you’re doing now?