So to many people, the title of this article may be a bit confusing…BUT bear with me & read on to find out what the hell I am on about!
I see the subject of retiring pop up in conversation everywhere, from family gatherings, work environments and across social media pages & groups. It really frustrates me that people’s mindset is to work for the best part of their life, with the end goal of stopping… one day in the future, to finally do what they ‘WANT’ & ‘DESIRE’ to do. Albeit the facts clearly show that when people follow this ‘NORMAL’ plan you see they end up working their bodies into the ground and by the time they finally get to ‘STOP & ‘ENJOY’ the retirement they have worked so hard for they are old, in poorer health and have less money than they have ever had before!! Sorry but this is not for me, I plan to never retire. ..and this is how-
Wayne’s Five Stage Plan to never retire –
Stage 1 (Completed)
- Build and establish my Boiler Installation Company as the local ‘go to’ people when it comes to getting a new boiler installed.
- Build a residual income stream from the Boiler Installation Company
Stage 2 (50-75% complete)
- Build 2 online income streams from passions of mine.
- Increase residual income from the Boiler Installation Company
Stage 3 ( 12 – 24 Months )
- Use profits from the businesses to invest in 2 rental properties
- Build another 2 online income streams with the knowledge and experience gathered in stage 2
- Hand day to day running of the Boiler installation Company over to someone else
By this stage, I should have enough income coming in to be able to focus more of my time and efforts on building the small property portfolio and running my passion businesses.
Stage 4 (3-5 Years)
- Acquire 3 more rental properties
- Purchase 3-5 properties to flip for cash reserves
Stage 5 (5-10 Years)
- Acquire a further 5 rental properties bringing the total to 10 rental properties.
- Purchase 3-5 more properties to flip to bolster cash reserves
- Open a Gym and recruit some young local talent to run it, but be active in the strategic and marketing efforts.
- Teach my eldest son what and how I have done things and encourage him to take the reins and cut his teeth in the business world.
So when I get to this point in say 10 years from now, I will have a handful of online income streams from things I’m passionate about, a small portfolio of rental properties, own a gym, be working with my son and be in a financially secure position.
This will allow me to oversee the businesses and properties from anywhere in the world, giving me space and freedom to ‘WORK’ only on things I love, so why would I ever need or want to retire?
As with any plan, it may not work out but one thing is for damn sure… I will be in a better position than most of the UK, who’s only plan is work hard for 40/50 years to then give it up and do nothing!
THIS IS WAYNE, Signing off & striving to achieve my ‘Never Retire Plan’