Okay.. Need a sounding board.

Michael,

I think you have a different definition of "retirement" than Pete does.

I think I have a different definition than both of you but I'd love to hear how both of you, or anyone else here, defines it.

It's an interesting word or concept that means a lot of different things to different people.

Jim

Jim,

A couple Quick thoughts on "Rehirement" and "free-tirement"

Some People don't Slow down Soon enough and Unfortunately even for young people like yourself their Health gets Zapped! and they now must Live in a very Different way of Life and Lifestyle...

And the Answer to some of the Problems (copied from the following articles) which Holds the Solution for Many in Today and Tomorrows World.

"Rehirement" and "free-tirement" are two of many new buzzwords coined to describe this third stage of life. Retirement will be a cyclical blend of work (at what you want and on your own terms), education, and leisure, rather than a steady diet of Saturdays and a spot on the sidelines. This is as much a financial necessity as a psychological one. Very few people can afford to live well on a fixed income for 15 or 20 years. And a few extra years of earned income, even from a part-time job, can let your retirement savings compound over a longer period of time. "Drawing down even a little less upfront can have a huge impact on how long your money will last," says Harold Evensky of money managers Evensky, Brown & Katz in Coral Gables, Fla. Work for 10 extra years, for instance, and you will need one-third less to retire on. You'll not only be adding to your retirement account--you'll also be reducing how long the account will have to last once you retire.

Today's retirement journey. Sixty-five became the magic number for retirement when the world was a different place. In the late 19th century, ...

6 Informative articles in Related News that Might Also give Some a few Good business ideas along those Good ol' Retirement years...
http://www.usnews.com/usnews/biztech...14/14intro.htm

Unless of course you Live a "Frugal Life" and become a Millionaire in Today's World...

A Billionaire in Tomorrow's World...

Phil

Jim,

Thanks for asking.

When Pete wrote "I'm looking at ways to build a bit of an extra income since I'll go into retirement in a couple more weeks" I took that to mean... he'll be retiring from his Job and going onto his Pension and would thus need the Extra Income. And I answered based on That. Based on what I thought Pete meant as figured by his qualifying sentence.

I don't believe in Retirement (ceasing work and then living off of investments or pension money as defined by the dictionary and expressed on the Wikipedia page http://en.wikipedia.org/wiki/Retirement). But I do know Most people in this country view it as ceasing work at 65 and living on the pension or retirement fund for the rest of their lives. And Early Retirement means the same as above but earlier than 65.

Any other definition just muddies the waters of the words we use to communicate and leads to ineffective communication.

Michael Ross