In my last post, I asked what you would do if you were given this choice:
Option #1:
A guaranteed annuity worth $2 million at the end of 10 years (that’s about $41 thousand per year in today’s money with annual adjustments for inflation). However, you’re going to be told where to live, have very limited say in what you do, be required to move 3-4 times, will probably be separated from your family for extended periods (4-12 months) on multiple occasions, and your work could occasionally be very dangerous.
Option #2:
Not option #1. You have the choice to do whatever you want, but you’ll have to find a new job.
You might have guessed, but this wasn’t just a hypothetical question. It’s an actual decision I made this week. You see, I have over 10 years towards a military retirement. If I were to stay in the military for 10 more years, I’d receive a pension of about $41k per year (plus annual inflation adjustments) for the rest of my life. That’s a pretty big carrot any way you look at it. Think of the freedom you’d have with a risk-free retirement income that started when you were 42 years old. It’s pretty compelling, huh?
Freedom Now or Freedom Later?
The allure of any retirement is that after you’ve worked enough years—you’re home free! You’ll have the financial means to do whatever you want. The military retirement system is an extreme example because you can retire as early as 37 years of age (for me it’s 42). But in general, the principal is the same. Work hard while you’re young so you can enjoy the spoils of your efforts in your golden years.
My Favorite Tim Ferris Four Hour Work Week Quote
[Retirement] is predicated on the assumption that you dislike what you are doing during the most physically capable years of your life.
This is a real doozy. Many people make extreme personal sacrifices in pursuit of the day they can begin doing what they really want to do. The military, in particular, demands a high level of sacrifice from its ‘employees’. But is the sacrifice today worth the payoff at the end?
What did I choose?
After a lot of thought, and with the support of my wonderful wife,
I chose Option #2.
Here’s why I chose to give up a $2 million nest egg (it hurts to say that…and probably will for a while!):
- The freedom to choose what I want to do and when and where I want to do it. If you’ve never served in the military, this might be difficult to grasp. In the ‘civilian’ world, if you have a regular job, then yes—there’s always someone there telling you what to do. But you always have the freedom to walk away. If you walk away in the military, they put you in jail. And who says you have to have a regular job?
- The freedom to structure my life in a way that means I’ll be able to spend more time with my family, and no one can ever force me to spend 4-12 months away from my wife and children again.
- The freedom…to make my life into anything I want it to be.
So here I am. I’ll remain in the military for about 10 more months, and then I’ll be out on my own for the first time in 15 years (counting my time at the academy). It’s a big, big change for me. But an exciting one at that!
Will I be able to turn my entrepreneurial dreams into a reality? I have 10 months to find out…to create a profitable and successful online business. My goal is to completely replace my full-time income with income from my internet-based businesses by June 20th, 2007. If I can succeed at that, then I will truly have won my freedom to choose. If not…well, then it’s back to another regular day job…but this time it will be one that I choose.
Sphere: Related Content
12 responses so far ↓
1 Lewis Empire // Aug 25, 2007 at 3:07 am
You’ve taken a big step! I think that the 4-Hour Work Week book is going to help create some major changes in a lot of people. I’m included in that list!
2 Zen Zoomie // Aug 25, 2007 at 10:52 am
@Lewis..it’s one of the biggest steps I’ve ever taken. There’s quite a bit I don’t agree with in Tim’s book, but it really makes you stop and think. Hopefully most people that are reading it get past the get rich easy title and really focus on the parts that can help them gain more satisfaction and enjoyment from their lives in the long-run.
3 Janice // Aug 26, 2007 at 3:29 am
What a fantastic decision to make - and one (with lesser consequences) I made for myself almost 3 years ago when I left my director level job. I still have not “made it” in business but I’ve loved every step of the way. It has been a great learning experience and has given me a wonderful sense of freedom. I have to say I enjoy my life (and my family) a lot more now that I have time for them.
I wish you every success
Janice
4 Wake Up Early! // Aug 26, 2007 at 3:16 pm
I’m with you. I’d for option #2 any day. Freedom is worth all the money in the world. I’m sure you or me could figure out the better way to make 2 mln in 10 years being free…
5 Zen Zoomie // Aug 27, 2007 at 10:15 pm
@Janice — that’s great. How long have you been at the blogging business? The blogging gig is a great way to learn a ton quickly. I doubt any one blog will ever be able to meet able to produce what I’m hoping to get as a full-time income, so I’m looking to expand out to other internet-based opportunities in the near future.
@”Wake Up” — thanks for the vote of confidence! Matching that nest egg in 10 years gives me something new to strive for. Although if I’m doing something I really enjoy, then having the nest egg at the end of 10 years isn’t nearly as important…I can just keep on doing what it is that I like doing.
6 Louise // Aug 28, 2007 at 2:55 pm
***Standing ovation*** I never have been in the military, but I really can grasp your trade.
Now, good written articles (no copies!), blogs set with RSS, tools like SEO (Search Engine Optimization), smarting relevant keywords for your website(s) and title, and you’re in the way to do good and right for success. Once you’ve done right, it comes right to you…
Check for Rosalind Gardner (I get no commission for this) and her (ole) ebook about affiliates (very good and informative – I have it) , she has also a blog, and she has been longer on it = experience = success.
Definitely younger Tim Ferriss finally did it to push anyone’s action bottoms, God bless him and all who is doing it!
Cheers!
Lou
7 MorganLighter // Aug 28, 2007 at 8:18 pm
Zen - What a hard thing, in my eyes, to do.
I come from a military family, my dad was a lifer, served in WWII, Korea and two stints in Viet Nam. We didn’t have much, but we sure did get to see the world. I did my part, but never considered the military to be my life, as it was for my dad. I served because he served and at the time it was the proper thing to do.
I sincerely wish you the best - no matter which way it goes - I just bet you’ll surpass that 2M before you ‘retire’. All the best.
8 Zen Zoomie // Aug 28, 2007 at 10:56 pm
@Lou - I’ll check into Rosalind’s ebook. There are so many out there..and most seem to cover the same material. Thanks for the tips!
@Morgan–glad you stopped by, and thanks for the note. The military really has given me a great deal to be thankful for..so I won’t be leaving with any bitter feelings. I just felt it’s time in my life to move on. And I fully intend to surpass that $2M.
Hope to see you both around again!
Cheers,
ZZ
9 Christoph // Sep 3, 2007 at 11:17 pm
Hi,
stumpled over your blog after your entry in Tim’s… good decision and all the best luck to you! I was lucky to take that decision at some point in time, too. When I was at the step of signing on, had the papers filled out and ready to go for it - I had some inspiring conversations with some of the officers in my unit. They knew me good enough and knew a long military career long enough to know that I wouldn’t have gone the full distance and had wasted a few years of my life…
Today 12 years later, had had a great time, have worked hard, lived in many places and are happily married…living in Guatemala! My solution to come closer to the 4 hour workweek - or more to my dream of a 15 hour workweek. If you need some help in the beginning, feel free to talk with my Guatemalan Outsourcer Team…
Greetings and Good Luck
Christoph
10 Hoto // Sep 4, 2007 at 3:55 pm
the most important think is that you can deal with your choise. i think you have your reasons to choose the 2 opp.
11 Stephen Cronin // Sep 12, 2007 at 5:08 am
Zen Zoomie, I’m normally not drawn in by personal type posts but this one got me!
My father was in the Royal Australian AirForce, so I grew up moving around - I understand a little about where you’re coming from. About 5 years ago I made the choice to give up a very good career to go teach English in China. I don’t regret it and haven’t looked back since.
As it happens I am probably moving back to Australia in about 6 months. That means finding a new job - in the back of my mind I’m thinking I’d really like to get a profitable online business in the next 6 months. It’s highly unlikely, but I’ll see what happens.
Anyway, your post really resonates with me. I hope it works out well for you! Good luck!”
12 CDL // Sep 27, 2007 at 6:39 pm
I think years ago I’d take #2, but I’ve realized that I’m marketable enough to not need that kind of guaranteed security. It’s a good feeling.
Cool Q
Leave a Comment