You’re nest egg isn’t big enough.
For every person who has ever said I’ll Never Retire, this—most likely—is the core problem.
You see the writing on the wall. Or you’ve hit the wall. And you realize you simply don’t have enough money saved to quit work completely.
You will outlive your nest egg.
Scary feeling that the personal financial media offers zero meaningful assistance in ameliorating. They simply say here’s how much you must save to catch up.
As we say all the time, you have no choice other than to accept and embrace your reality.
Remove the stigma. The feeling of failure. Even guilt and shame. From there, you can plan.
And contrary to the financial media’s typical narrative, you have options. You can do something other than save more.
We continue to explore these options—and we will keep building on them—in the Never Retire newsletter.
For example, we recently considered how you can use much-maligned Social Security to help make up for a retirement savings shortfall. To that end, here’s a useful link from the Social Security Administration about collecting benefits while you work part-time.
We have also covered my plan. To use the money you have managed to save to pay cash for a property where you can afford it and want to live to eliminate your monthly housing payment. With your housing expense out of the way, you can use the rest of your savings and cash flow from part-time work to satisfy the rest of your low cost of living for the duration.
Just last week, we illustrated how you can use income property—purchased with your not quite enough for traditional retirement nest egg—to fund your Never Retire strategy.
That post received an encouraging response. So I want to expand on it here with another real example of how becoming a landlord can potentially eliminate the problem of not having enough money to traditionally retire.
With just low six figures saved, you absolutely can make it happen.