The “innovative solution” theme is fascinating for hearing about what other people have done and because this forces people to learn more about themselves as they explore this idea once they start to understand where they stand financially.
For many years I’ve been writing about the need for many folks to have some form of earned income but this does not need to come from staying longer in your primary career as opposed to what I have referred to previously as monetizing a hobby or what James Altucher recently referred to as having a plan B.
As Altucher notes sometimes things go along as planned and hoped for but that when they don’t, you need a plan B. Your plan b will have a much better chance of being successful if you put in the time like you would your plan A which is why I have framed this as monetizing a hobby; something you enjoy and would otherwise do for free.
Your plan A is probably a combination of portfolio income and Social Security but if you need a plan B hopefully it can be something you enjoy.
This article was written by Roger Nusbaum AdvisorShares ETF Strategist.