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Second Act Article
Old 09-16-2013, 07:13 AM   #1
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Second Act Article

What makes a good second act?

It might involve a j*b, but not an ordinary one:
Testosterone Pit - Home - Are You Really Retired Just Because You Stopped*Working?
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Old 09-16-2013, 11:01 AM   #2
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From the article,
Quote:

Folks on either side of the retirement cusp fall into a few different groups:
  • People who have saved too little to retire and likely must keep working in order to survive.
  • People who have retired but are spending at a much faster pace than they anticipated.
  • People who saved money and spend modestly, but are still not sure their nest egg will last.
  • People who are retired and have enough money, but are just plain bored.
  • People who have hobbies that could be turned into moneymakers.
To me, the above is a crazy assumption. He is assuming that everybody who has retired and has enough money, is bored? This is simply not the case. Perhaps I am unusual, but most intelligent people that I have known are very good at entertaining themselves.

The rest of the article seems to be a discussion of what kind of job someone might want as they grow older. Then he pushes the reader to pay for his publication.
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Old 09-16-2013, 11:14 AM   #3
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Unadulterated, unfiltered bullsh*t.

Other than that, I have no issues with the article.
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Old 09-16-2013, 11:19 AM   #4
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Unadulterated, unfiltered bullsh*t.
Next time don't hold back and tell us what you really think.
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Old 09-16-2013, 11:21 AM   #5
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I think he (eta: a guest poster, it looks like) is pushing subscriptions to his own publication from the get go. Love this part:

Quote:
. I have been officially retired for several years now, and while I put more time in to our weekly and monthly publications than I could have ever imagined, it hardly feels like work.
If it's so much fun and he is officially retired, why isn't he giving it away?
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Old 09-16-2013, 11:42 AM   #6
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I may change my mind later, but for now we are going with the hobby jobs idea. We have that now, plus I have a long list of hobbies I am interested in that would also make money. Another benefit is there are many tax deductions available for small businesses, like health care insurance premiums, and hobby business related books, classes and travel.

I have an acquaintance that makes a very good living designing and creating high end jewelry. To me that wouldn't be work. She sells her products in Europe, so traveling there could be a tax deductible business expense for her. Making jewelry and traveling to Europe are the kinds of hobbies I would have for fun anyway, so why not have a hobby business like that.

Someone else we met owned a rock shop and traveled to collect rocks. He even was invited by NASA to go an an expedition to Antarctica in his retirement / hobby job years.
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Old 09-16-2013, 11:53 AM   #7
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Seems to me like nothing more than a thinly disguised investment newsletter pitch. Do any forum participants subscribe? If so, what do you think?
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Old 09-16-2013, 11:59 AM   #8
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I thought the article was ok.
Seems like the primary point, other than selling subscriptions, is that you should follow your passion in "retirement", perhaps getting paid to do what you like. While kind of obviously trivial, I think that's good advice any time, not just in retirement.
For a lot of people, work is not a four letter word, but gives meaning and purpose to life, allowing them to be creative and help others, while doing what they like.
I'm only four months in to retirement, sometimes feel like I should be "doing" more, especially how I'm helping others.
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Old 09-16-2013, 12:31 PM   #9
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ISeems like the primary point, other than selling subscriptions, is that you should follow your passion in "retirement".
This follow your passion idea can be tricky. It may often be that the passion of an older dude with some money is about 35 and wears a skirt.

Following her is not always prudent!

Ha
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Old 09-16-2013, 02:27 PM   #10
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Originally Posted by W2R View Post
From the article, To me, the above is a crazy assumption. He is assuming that everybody who has retired and has enough money, is bored? This is simply not the case. Perhaps I am unusual, but most intelligent people that I have known are very good at entertaining themselves.

The rest of the article seems to be a discussion of what kind of job someone might want as they grow older. Then he pushes the reader to pay for his publication.
Ultimately a sales pitch indeed, but where did the author claim "everybody who has retired and has enough money is bored?" He cited three examples of folks who prefer a second career to a non-work retirement, and wrote an article addressing that particular crowd.

It wouldn't be any more of a stretch to conclude from the post above that anyone who retires and finds it boring must not be intelligent...simply not the case.

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Old 09-16-2013, 03:03 PM   #11
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Well, I wouldn't sign up for any investment letter, but a second career or hobby job is a viable solution for some retirees. Concern over running out of money / not having enough saved is a pretty common topic on this forum.

A couple each netting 10K a year from a part time hobby job over 30 years would have another 600k to add to their nest egg, plus possibly another $100K+ or more on tax savings and possibly delaying RMDs.
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Old 09-16-2013, 03:32 PM   #12
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...work is not a four letter word, but gives meaning and purpose to life...


Quote:
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This follow your passion idea can be tricky. It may often be that the passion of an older dude with some money is about 35 and wears a skirt.

Following her is not always prudent!

Ha
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Old 09-16-2013, 07:02 PM   #13
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Boredom, mental and physical deterioration and social isolation are all legitimate concerns for retirees. I'd (almost) rather work than end up being one of those people who sit around watching TV most of the day and/or have no meaningful social interaction (and this from an introvert).

Keeping myself engaged with something(s) in retirement was one of the mental hurdles I had to overcome before making the decision. I jumped the gun and started on a few of them before I retire at the end of this month .... and underestimated how much time I would be spending on the new activities. I now need to retire because I don't have time for work (at least not full time).

Two weeks to go .....
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