It's getting serious now.
The trade unions are going to jump in and chuck an almighty fit about the extension of the retirement age from 65 to 67.
Their argument is… “You can't expect people to be using their hands and bodies in any physical capacity when they're 65+”
Now, you might not be concerned about the retirement age because it may be a long way away for you, or it may be the most pressing issue in your life in the next 5-10 years.
Regardless of that, what's amusing with the whole extension of retirement plan that came out in the budget is that it's focussed purely on age.
Why is this important?
Well it's a bit of a test as to whether you have a wealth mindset or a welfare mindset.
If you're reading this, I'm assuming you have a wealth mindset, but let's see.
Retirement for the wealthy is not a function of age, but a function of money.
This is what the poor and middle class don't get… and hopefully, you as a subscriber to my way of thinking does get.
It's a ridiculous thought for me to simply wait until a certain age to retire. That's how the poor think.
The wealthy take control, put things in to place, understand that it's about creating assets and passive income and retire a lot earlier than 65.
Here's a question for you…
Did the extension of the retirement age worry you or upset you?
If it did, you're thinking like the poor (Sorry).
If you laughed at it like me, you're on the right track. You're thinking like the rich do even though you may not be in a position to retire right now.
Funnily enough, when the retirement age was set at 65, it was almost 70 years ago and the reality was not a lot of people lived very far past 65 years of age.
The government never thought they'd have to pay out.
Now that they do, the government is constantly changing the goal post because it has very little option.
It's an admission of guilt that the system for the majority isn't working and there's not much that they can do about it.
One thing for sure is that you haven't heard the last about this particular issue… I've heard from some people that they'll extend the retirement age even further to 70 years of age.
Imagine being 69 years old and on the dole (ouch).
My suggestion is don't let the government dictate when you retire, don't fall into the trap of being in the poor or middle class – stand outside the circle and take matters into your own hands.
Simply by reading this I may have shifted your paradigm already.
…Retirement is about passive income. Period.
The question for you now is, how much passive income do you have, and how much do you need to be in a position where you can honestly say that you could retire comfortably?
Then your seminar of life begins.
What's the seminar of life?
That's the reality of what you do every day to make things happen? It's the only seminar that matters and it's the one that you'll get the best return on.
Problem is, most people are going to the same seminar over an dover again and learning nothing in the process. Don't let that happen to you.
So off you go, get busy. Build assets and wealth now so that you can retire on your own terms.
So I'd like to leave you on what a famous intergalactic philosopher once said…
Live long and prosper.
P.S. You want to comment? Tell me what you think. Happy to read your thoughts below.