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Can anyone give us bits of advice for freelancers on what to do in order to have secured retirement life?
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TommyCarey
The way I look at it, you will never stop being a freelancer, you will just take a more hands-off approach to your work. You will need to build up your passive income streams so you can collect checks without having to do as much work as you would need to do at a "normal" 9 to 5 job. I always see people talking about how they make $150,000 a year and they just bought a house and a new car, but they probably aren't saving much of their money which means they will be working constantly after the age of 60.
I personally preach that everyone should start building up passive income streams so they can take a more hands-off approach to making money online, and be less stressed. Building up these passive income streams isn't an easy thing to do, this is why you need to start doing them as soon as possible. Starting to build a passive income stream when you're about to retire means you might not have the motivation or time to do it right. You might not have the motivation because it takes a lot of work to do it right, and since you're going to be older, you might not have the drive you did back when you were younger. You might not have the time to do it right because you'll always be with family, or you might actually be leaving this world sooner than you think
When people ask me when I think I'll retire, I always tell them "I don't think I will ever retire. I tun my company and I will always run it, unless I sell it for a massive amount, enough to support my family and my children's families. I work a lot as of right now, and I don't even have any big authority websites bringing in a ton of money lol. If I were to get one of these types of websites, I'm sure I could sell it later on and live a nice life, but I don't know if it would be enough to purchase a house, a couple cars, have enough to live off of and also have enough left over to help settle my children and their children. Of course, I would make my kids work even if I were a millionaire, I wouldn't want them to get used to handouts because those types of people are simply annoying
At the end of the day, you need to make more than you're spending in order to consider yourself some sort of successful. If you can make exponentially more than you're spending each day, you will be on your way to success and live a better lifestyle than most, because you won't have to worry about retirement as much as the next guy Retiring as a freelancer means you need to start saving now. I don't care if you are 18 years old and just starting off or you're a veteran and have been doing this for 15 years. If you're not saving now, you won't have any money later on when you do plan on retiring. The way I look at it, you will never stop being a freelancer, you will just take a more hands-off approach to your work. You will need to build up your passive income streams so you can collect checks without having to do as much work as you would need to do at a "normal" 9 to 5 job. I always see people talking about how they make $100,000 a year and they just bought a house and a new car, but they probably aren't saving much of their money which means they will be working constantly after the age of 60. I personally preach that everyone should start building up passive income streams so they can take a more hands-off approach to making money online, and be less stressed. Building up these passive income streams isn't an easy thing to do, this is why you need to start doing them as soon as possible. Starting to build a passive income stream when you're about to retire means you might not have the motivation or time to do it right. You might not have the motivation because it takes a lot of work to do it right, and since you're going to be older, you might not have the drive you did back when you were younger. You might not have the time to do it right because you'll always be with family, or you might actually be leaving this world sooner than you think :( When people ask me when I think I'll retire, I always tell them "I don't think I will ever retire. I tun my company and I will always run it, unless I sell it for a massive amount, enough to support my family and my children's families. I work a lot as of right now, and I don't even have any big authority websites bringing in a ton of money lol. If I were to get one of these types of websites, I'm sure I could sell it later on and live a nice life, but I don't know if it would be enough to purchase a house, a couple cars, have enough to live off of and also have enough left over to help settle my children and their children. Of course, I would make my kids work even if I were a millionaire, I wouldn't want them to get used to handouts because those types of people are simply annoying :D At the end of the day, you need to make more than you're spending in order to consider yourself some sort of successful. If you can make exponentially more than you're spending each day, you will be on your way to success and live a better lifestyle than most, because you won't have to worry about retirement as much as the next guy :D
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