Archive for January, 2012

New Retirement Plan

My wife and I talk about finances more often than she probably wishes that we did. I worry about retirement a lot, which may seem a trifle odd seeing as I’m in my twenties, but I just don’t see us ever getting there. I’m self-employed, which not only means no one will ever match my deposits in a retirement account, but also that I get slammed with self-employment taxes before I get to pay income taxes.

Anyway, I just calculated that at the rate we’re going, we’ll have to save up roughly 30% of the income we’re making to retire with a decent nest egg by 65. It seems at this point that the trick isn’t to save more of the money we make. The trick is we need to make more money.

Below are things that we have seriously considered to help boost our financial situation:

1) One of us needs to become a bestselling author. Books can keep making money long after the hours consumed in writing them are over.

2) I need to write a hit song and get someone famous to sing it, put it on their album, and then give me 100% of the royalties.

3) Make an online music store where people can buy the cool piano songs I keep arranging for my students. And then have PayPal NOT charge me fees for a million microtransactions.

4) Make a sequel to Arden’s Vale that is so cool that the notoriously cheap (I’m one of them) and small fanbase of retro computer games decides to purchase 100,000 copies of the game at $10 each.

5) Create an amazing video on YouTube that over 1,000,000 people watch. Multiple times. And have YouTube pay out for all the views.

So, I’m just asking here, is anyone else’s retirement plan dependent on creating a viral internet video, or is it just me?