Kim and Spencer discuss the concept of retirement, with reference to thoughts from the founder of AngelList, Naval Ravikant. Ravikant’s advice for retirement includes saving money, lowering your spending rate, and doing what you love so that retirement becomes unnecessary. The hosts emphasize the benefit of virtual jobs, saying that they are perfect for older people who wish to keep working and earning, while staying active and engaged. They add that this kind of work can help offset inflation and contribute to a fulfilled life.
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Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today!
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Links and Resources from this Episode
- For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
- Ravikant’s first point: Saving money for retirement
- How the word ‘save’ is being used in the context of retirement
- Naval Ravikant’s background and accomplishments
- The second point: Lowering your burn rate for retirement
- Ravikant’s third approach to retirement: Doing what you love
- Benefits of doing what you love as a strategy for retirement
- The concept of working until old age
- Saving and burning from a retirement perspective
- Ineffectiveness of forward-budgeting and the importance of looking back at expenses
- Should you still start saving for retirement even if it may not provide enough for people to live on during their retirement years?
- Organizations that provide opportunities for seniors
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