Self-Employed.

Use this forum to discuss the July 2022 Book of the Month, "Reconfigurement", by E. Alan Fleischauer
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Nweze Raalchukwu1
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Re: Self-Employed.

Post by Nweze Raalchukwu1 »

Well, it depends on what the entrepreneur is doing. If a person is into physical labour, then he might need to retire and plan for it. If a person is an author or something less physical they might not necessarily need to retire
Mechito Mecherchito
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Post by Mechito Mecherchito »

If a person enjoys his work, why should he retire? Especially when he is self-employed. I know several people who are 70+ but they enjoy tilling the land and growing fruit and vegetables, they just can't live without it, so I don't think it's necessary.
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Post by Chikapeter+110 »

The Self employed are meant to retire and plan ahead before their retirement age. For the entrepreneur, it's difficult for them to retire because of the long years they have spent in building their establishment. But however, they also need to retire and make planning ahead of time.
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Post by anne Irungu »

retirement should not only be for the employed but for the self-employed as well. while it easy for a self-employed person to convince themselves that there is no need for retirement, the body grows weary with age whether a person is in self-employment or not.
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Post by Teresa Emmanuel »

I think at some point, you'll lack the physical, and mental ability to run your business entity. That being said, I believe retirement is compulsory for all.
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Post by Kinjal V Shah »

  • Truly said on being employed or self-employed, one must not work just for the sake of it but strive to improve and excel personally and make a worthy contribution to society at large.
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Mai Tran
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Post by Mai Tran »

It's nice to take breaks from time to time, even for entrepreneurs, but I don't see why they must retire all together, especially if they enjoy what they're doing. Hey, Warren Buffett is 92, and he's still working. :tiphat:
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Post by Famzi Ken »

Most entrepreneurs indeed find it hard to retire entirely. But the productivity of a person is reduced with aging. So an entrepreneur still has to plan for those days because it might get to a point where they won't be able to handle their business.
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Einsthawkton Edeh
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Post by Einsthawkton Edeh »

Everyone needs retirement. You can't keep working or being actively engaged in your job for the rest of your life. Even if you are an entrepreneur, you can still hit exhaustion.
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Einsthawkton Edeh
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Post by Einsthawkton Edeh »

I think that most people start their own businesses when they retire. Like, they become entrepreneurs when they retire from their 9-5 jobs. They might not see that business as a job because it is what they love doing. However, if the business starts expanding, they should hire more help so that they would have time to relax.
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Post by Comfort Ansah »

Yes I believe each individual like he said has different situation. If you are self employed like me, yes you still have to plan for your retirement because we all age and when we are old is when our retirement plan comes into place.
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Post by Alexis Kraus93 »

Retirement is not a preserve of the employed. I think self-employed people would benefit most from retirement because they can plan for it and decide if they want to retire, when to retire, and how to retire. Self-employed people stand to benefit the most from retirement because they can plan for themselves. Good planning is key.
Alexis Kraus93
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Post by Alexis Kraus93 »

The retirement structures set up in companies might seem stable, but they may not be flexible enough to incorporate changing economic climates and financial crisis. Self-employed people have more control over their business plans and decisions. I think self-employed people have an edge over employed people regarding to retirement planning.
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Post by Fanny Lebura Ueh »

I don't believe that there's a right or wrong answer to this question. Choosing to retire is a subjective matter. If you still have the zeal and energy to keep working or you feel that you're not finished, then by all means keep working. But not to the point of burning out.
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Post by Anesu Alex »

Yes I think you can retire. For example if you own a very big company, you must sell most of your shares and let others run the business whilst you rest. Your money will not be tied up in the business, but you can still earn a fair amount. What do you think?
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