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Friday, April 8, 2011

Retired in College

Are You Retired Yet?

You don't have to be 65 or older to answer yes or no...

That's a weird question for a blog titled, Doubling Your Summer Money, right? It may sound weird to ask on this website, but in my world, its a concept I like to think of translated to, "Are you happy with your studies or career? Are you in a career or aiming for a career that's not at the top of your "dream" list. 

If you are not a young adult (but still young hearted) and are answering yes, than I salute you, because I have spoken to many adults who have careers that are second choice jobs, and not something that they really want to be doing. In fact I've only met a select few adults who are truly retired, since they are in a career they have always dreamed of. No I am not talking about truly retired, as in financially ready to stop working, but retired, with my concept of being happy with your current job. 

If you are a young adult, and are either getting ready to go to college, or already in college, and you consider yourself not retired (remember I am not talking about financially retired), then I recommend you step back for a second and THINK about  your choices in life. Although there are many of us who go to college because we want to study something that interests us, and eventually land a job in that career field, there are many of us who are studying something because either their parents want them to study (law or medicine) or because they know they will make 'bank' in a certain field. If you are one of those students, who are studying something that you love, then consider yourself retired since you can be sure of having a great retirement for the rest of your life, rather than waiting till your financial retirement to truly enjoy the simpler things in life.

For those of you who are studying in a certain field to become rich, I warn you against that decision. Although money is nice, it does not solve all problems. Study what you truly want, and if you do not know what you truly want to study, then look through the majors offered at your college again and again until you find something that strikes you. 

We live in a society that depends on speed, effectiveness, and the internet. I personally want things to come to me quickly and efficiently. I do not want to sit back and wait. I'm sure I'm not the only one who has these views. With that in mind, wouldn't you want retirement now (mentally speaking, not financially), rather than waiting forty or so years to receive a check in the mail. 

Study what makes you happy, not what will hopefully and eventually add large numbers to your bank account. 

If you don't believe me, go speak to the closest adult to you, and ask them if they are happy with their job. Seven times out of ten (in my opinion), you will hear a negative response. 

Be the minority, not the majority. 

Just because we want things quick and we want things now, doesn't mean we shouldn't plan for the distant future. I recommend opening a "Roth IRA." Ask your parents or a local bank about how to go about doing so. When you hit the financial retirement age (59 and a half), you should have a nice check waiting for you at the bank.

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