CREATIVE ADVENTURES — 43
Imagine You Could Retire Today
In this thought experiment, you imagine you can now retire. You have enough money to pay for your salary for the rest of your life.
Please respond to the following prompts:
- How would you spend your life after retirement? Describe your ideal day and week. How would you design your life?
- Now that you are retired, what are some things that you would do? Travel the world? Follow up on your creative hobbies or projects? Spend more time with your family? Spend more time in nature? Come up with a list of 20 things to do.
- There is a saving and investment formula known as FIRE (Financial Independence, Retire Early) where you try to achieve your financial independence at once and retire early. According to this FIRE formula, you set aside 6 months’ worth of salary for emergencies, clear your mortgage as soon as you can, put aside 30 to 50% of your income every month for your savings, and grow these savings by smart investing. Think about 5 smart actions you can take now to achieve your financial independence and retire early.
- In your retirement years, if you chose and take up three careers for fun, what would these be? Imagine three scenarios (think of careers or jobs that would be fun and exciting to have).
- In your retirement years, what skills and knowledge would you like to learn? Would you learn new languages? Would you learn to play instruments? Would you write books? Create a personal plan for your learning, development, inspiration, and creativity.
- In The 4-Hour Workweek — Tim Ferriss advises designing several mini-retirements throughout your working life when you are still young. Each of these mini-retirements could be between 1 to 6 months, depending on your conditions and needs. A mini-retirement (or sabbatical) will help you reset everything, take a break, reassess your life, reinvent yourself, and start fresh again. Create and design your first mini-retirement or sabbatical. Where will you go? What will you do? What type of assets would you like to create during this trip? Will you write a book, for example?
- Imagine that you are 100 years old, and you are about to die. Write a letter to your current self where you provide some words of wisdom and summarize the insights of your life.