Originally Posted by jrs.landscaping
Same here, retirement in my mind is a falicy. I want to get the business in well enough shape so my boys can take it over when they are ready and I can take a back seat. As far as actual "retirement" that doesn't interest me, sit on the couch, clipping coupons, watching court shows and living on a budget. I'd rather wake up at 5 and go to work thanks.
I would agree with your assessment of retirement. Who wants to sit around on the couch all day and do nothing? I have watched my grandfather in retirement (he has been retired for my entire life) and think it is both depressing and boring. I also know others who have retired only to get bored and then go back to work. I plan on doing some sort of meaningful work as long as my mind and body are capable.
Maybe a better phrase would be life planning? Or financial life planning? Even if you plan on working until you expire, don't you think some planning would be prudent?
I have a son who is only seven months old. I, like you, hope that when he grows up we can work together and then eventually pass the business on to him. But what if he wants to be a doctor? What if he wants to be a pastor or missionary? What if he wants to study computer science? What if he wants to work in one of the trades?
I'm not trying to pick on you, but I think you brought up some excellent, common objections. Financial planning is an ever evolving process that changes as we all age. Life will never work out exactly how we plan or would hope for it to, but to have no plan at all doesn't seem like a good alternative either.
I think what most don't realize is that life happens. You wake up one day and your body just doesn't work like it used to. You might not have the physical or mental capacity to continue to work into your 70's and beyond. So for all folks who make it to that age and haven't planned and saved accordingly, they wind up dependent on the government and/or family.
Maybe Mike Tyson has the best quote of all for planning: "Everyone has a plan 'til they get punched in the mouth."