Traders don't retire... They blow up!!!! -The bad ones that is. The others do it til the day they die, in some form or another. How old is Sir Templeton.... 102 I think?
For many successful traders, trading IS retirement. You set your own hours, take days off if you want, have no obligation, and have a large income. What else could you want?
Heck, I've been enjoying this trading journey so much, I have never even considered retiring from it. Compared to my other businesses and jobs, this one feels like retirement. I have a feeling that many moons will pass before I ever think of giving up trading. To me it's the best game in town. My current financial situation isn't what I would consider great, but even when it becomes so, I still wouldn't want to retire from this game until I just can't see the monitor or I'm too weak to click a mouse.
Interesting thought...here is my answer. I have been trading now for 9 years...been at home trading now for over 6 of those years. I have made over 3 million gross over those last 9 years. It is something that I enjoy to do and honestly I don't care if I'm 80 years old I will continue to trade. Currently I'm 33. Remember a few things...the market will always be there...you cant be laid off...if you get tired of day trading when your 60 plus then just swing trade who cares...either way its a click of a mouse button or what ever they will have 50 years from now...hell technology is advancing so quickly I wouldnt be surprised if we have watches that allow you to voice control trades and market information that is sent to you via holographic images by surgical implant! My point is this...this when people retire they are bored to tears..and wonder what they will do with their time...for me the question is already answered...I will always be active in the market its what I love to do!
Jay123, I agree with you 100%. The points you make are the primary reasons why I work through each time I think I should hang it up and get a "real" job. I don't want to be 50+ years old and be laid off or hate my job with no place to turn. Trading is definitely a great lifestyle!
My view would be that if you're worried about a retirement plan, you probably should go get a job...you're probably not cut out to be a trader. You know, to be a successful trader requires some level of comfort with risk. Risk takers are probably not the people who are going to be worrying about their retirement plan BEFORE they're ever out of the chute. That said, some years ago my wife and I started buying rental real estate. We didn't do it so much for retirement as we did for stability. It provided a base that we could count on, and reduced the pressures on my trading. I'm glad we did it. The real estate has been very profitable over the years. And, if you want to look at it this way, it will provide income for as long as we own it...not a bad retirement plan. OldTrader