The retiree with six incomes

An inspirational story about a retiree who has taken care of his retirement not by saving cash but by creating avenues to earn passive and part time active income.

The retiree with six incomes.

This guy has nothing in the bank, but you don’t have to feel sorry for him.

Americans fall disastrously short with their retirement planning. They should put away much more of their paychecks. They should hold off collecting Social Security as long as possible.

That’s the gospel preached by 401(k) operators, financial planners and the government. I, too, have chimed in with the scolds. But recently I came across an interesting counterexample of retirement readiness. It tells me that people aren’t as ill-prepared as they appear to be in economic studies.

Ways he earns his income:

  1. Monthly payout when he was made redundant.
  2. Working part time in a retail chain.
  3. Collecting social security check.
  4. Independent contract for cobol programming.
  5. Rental income from apartments he helped to build.
  6. Handyman work and tax waivers for tool expenses and insurance.

This is a very good lesson for all of us interested in building a sustainable retirement that does not put pressure on our time and still earns us a reasonable income.