Self-Employed.

Use this forum to discuss the July 2022 Book of the Month, "Reconfigurement", by E. Alan Fleischauer
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Adeolaoskydeelight
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Re: Self-Employed.

Post by Adeolaoskydeelight »

In the case of an entrepreneur I don't think it should be called retirement, it's just a shift of duty just to reduce workload
UcheNduka
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Post by UcheNduka »

While an employed person needs to plan for retirement, it's also imperative for an entrepreneur to do the same because as one ages, activity slows down and productivity reduces.
However, the plan depends on how tedious the work is as an entrepreneur. If it's less active work, it's okay to extend the period of retirement.
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Post by Savina Visintin »

It depends. There is nothing wrong with retirement for entrepreneurs, but they need to plan ahead carefully.
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Post by Hubre De Klerk »

I do believe everyone should retire eventually, but I also know that a lot of people keep doing something as they usually say, that is what keeps them young and alive, to still be active. Life shouldn't only be about the daily routine of work - home - work - home, repeat. Life should be lived and enjoyed as well, and once on retirement, I believe that is when you have time for the things you have always wanted to do, but never had the time or money for. Let's just say that I believe bucket lists and retirement goes hand in hand!
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Shanesha Sammerson
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Post by Shanesha Sammerson »

I agree with MarshaJJ that if you love your career you should not stop. Most elderly persons I know that are still working tend to stay more active. Whereas those that retire tend to get bored and I guess they begin to worry that the older they get the closer they are to dying. Working well into old age brings purpose to older people and they feel useful and essential.
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Post by Hannah Mae Fabro »

All occupation has a retirement at the end. Even the entrepreneurs retire as well. But I think the retirement of self-employed is a bit different from the employers.
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Post by Vivian Writes »

At this point, I think retirement might be a little outdated. Expectedly, older entrepreneurs might not have the same energy for their business and would ideally require a break in old age. But with current technology, there are boundless opportunities that make even retirement not so “retire-ry.” I think, though, that entrepreneurs still have to make a plan for their old age and make appropriate investments.
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Post by Rohit Khanna »

Retirement is not a very rigid idea these days. Whether one is an entrepreneur or an employee, retirement is about beginning a more passive state of existence where one doesn't work or get engaged for any financial reasons or fulfilling responsibilities. One can take a call about shedding of that responsibility even if they are an entrepreneur.
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Post by Zainab Wasif »

Why do you have to retire at all? Why not be useful and contribute to your community and society till the day you die. Find yourself a job that you love or be self employed and you will never want to retire.
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Post by Zainab Wasif »

Why do you have to retire at all? Why not be useful and contribute to your community and society till the day you die. Find yourself a job that you love or be self employed and you will never want to retire.
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Post by Loniya Chabili Mubanga »

Even entrepreneurs can retire too, he emphasized financial planning, which wasn't limited to only 9 to 5 employment. The endgame essentially is to plan your retirement with regard to your income capabilities and other factors.
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Post by FunkyFlowerLady »

everyone has the right o retire if and when they want to. for entrepreneurs, it's just that they have to do most of the planning and preparation in terms of setting up insurance and 401ks themselves instead of having a company/boss who will set them for you.
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B Sheila Holt
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Post by B Sheila Holt »

Yes, I think if a self employed person chooses to retire, it will take a bit more planning to make that happen, but if they life they have built around their work has been successful and they can retire with ease, then yes!!
Otherwise, if they enjoy their work, keep doing it! Who says to stop? If they are able to enjoy it for a few more years, keep going!
It’s up to each individual to retire from their self-employment or not.
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Post by AmberLiz »

I think it is completely based on the situation. If someone absolutely loves their job (I know many entrepreneurs who consider their job their hobby), why stop? Especially if it is something that is therapeutic or a coping mechanism, I support the individual's choice/decision on whether or not they want to "retire". I do know many peoples' idea of retirement is free time to "relax" or do all those things they haven't had time to do for so long. However, if the individual reaches the "burnout" phase or just doesn't want to do it anymore, then absolutely, they should retire. There is also the in between option of part time or just doing it as freelance or as often as you wish, depending on what your entrepreneurship is.
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Post by Horlarmidey Harkinolah »

I personally believe retirement is just a fancy word to indicate rest period. It doesn't necessarily mean you stop doing anything altogether. But its more of easing the stress on oneself and focusing more on other things aside how to make money.
So yes, self employed can retire and should retire as long as they have people to continue the work for them
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