And anyone else who is retired/left the rat race and is living SOLELY on passive income:
As an entrepreneur, I've always been very "bullish" on the overall economy and growth-- both on a national--and on a global-- level.
This just made sense from a business perspective: I wanted my business to grow, so I had very strong convictions that the economy around me would be growing as well.
Feeling otherwise would have sabotaged my own personal compass: Why try to grow a business if you feel that it has no chance to grow?
I should qualify this by saying that all of my businesses have been based on economic growth and people spending money. I'm sure there are other business models that specifically target contraction, loss of consumer confidence, and retraction/negative growth.
Anyway, here's my question:
Do you think your world view changed, even subtly, when you made the transition from entrepreneur to retiree?
Did you change from someone who HAD to have the economy grow (for their business to succeed)-- to a person who is perhaps more cautious or plans for potential downturns?
Did you start to pay more attention to other metrics, other measures of economic growth?
Did you start to look more long term? Or no?
My reason for asking: I could see myself going through this kind of transition as I start looking at long term bond yields vs short term economic conditions.
Perhaps this is common?
If so, I could see a MAJOR shift in our economy in the next 20-30 years, as more and more people retire and their perspectives change from one of hopeful growth, to fear of potential downturns.
Does this make sense? Not sure if I'm explaining it well.
If this shift in confidence occurs, it would be wise to plan for it now. Business models, retirement strategies, etc.
-Russ H.
As an entrepreneur, I've always been very "bullish" on the overall economy and growth-- both on a national--and on a global-- level.
This just made sense from a business perspective: I wanted my business to grow, so I had very strong convictions that the economy around me would be growing as well.
Feeling otherwise would have sabotaged my own personal compass: Why try to grow a business if you feel that it has no chance to grow?
I should qualify this by saying that all of my businesses have been based on economic growth and people spending money. I'm sure there are other business models that specifically target contraction, loss of consumer confidence, and retraction/negative growth.
Anyway, here's my question:
Do you think your world view changed, even subtly, when you made the transition from entrepreneur to retiree?
Did you change from someone who HAD to have the economy grow (for their business to succeed)-- to a person who is perhaps more cautious or plans for potential downturns?
Did you start to pay more attention to other metrics, other measures of economic growth?
Did you start to look more long term? Or no?
My reason for asking: I could see myself going through this kind of transition as I start looking at long term bond yields vs short term economic conditions.
Perhaps this is common?
If so, I could see a MAJOR shift in our economy in the next 20-30 years, as more and more people retire and their perspectives change from one of hopeful growth, to fear of potential downturns.
Does this make sense? Not sure if I'm explaining it well.
If this shift in confidence occurs, it would be wise to plan for it now. Business models, retirement strategies, etc.
-Russ H.
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