Are YouTubers really retired if making videos is still a job? What is really retiring anyway? Is it to do nothing that earn no money? What if you do something that you love but it happens to earn money? And what if you love what you do but cannot financially retire yet, then can you say you are kinda like retired already too? I explore all these questions and give my take on all of these.
Youtubers like myself like to claim that they’re retired but they’re still making videos they are working to assemble the script to make the videos and upload it on youtube so this is still considered work so how are they still retired the argument sometimes is wait a minute they just switched their jobs from engineering or whatever they used to be working at not
Just myself and they swapped it for a video producer role a youtuber they switched from a job that makes a certain amount to whatever they make as a youtuber so it can be viewed as a career change rather than retiring altogether because typically you think of retiring as not working at all laying on the beach doing things that makes no money whatsoever so today
I’m going to talk about the mentality behind all that are these youtubers really really retired or not this video is brought to you by the moomoo app you can get up to 13 free shares of stock just for signing up and depositing a hundred dollars check out my referral link down in the video description below if you guys are wondering if i’m still ill from my covid i
Still feel a little bit under the weather it’s been about six days or so since i first noticed the symptoms and a little bit of long covet right tiny bit of stuffy nose i don’t smell any weird smells anymore but my taste buds are a little bit not optimal things don’t taste as good as they used to so hopefully that disappears now the first criteria to see if someone
Is retired of course is if they have the financial assets backing them the question is if they can completely stop work completely stop everything including youtube and will they be okay for the rest of their lives do they have the financial assets under the four percent rule in other words whatever burn rate they’re at let’s say they spend forty thousand dollars
Right times 25 do they have one million dollars of investable assets to back them now this one million dollars is liquid assets only it’s not net worth so it does not include your primary residence so it needs to be a huge chunk of money it could be split half and half half in your retirement accounts half in uh after tax brokerage accounts right but all of it added
Up it needs to be about a million dollars if you have forty thousand dollars of burn rate every single year for myself i got eighteen thousand dollars a burn rate every year let’s call it twenty thousand right so i need at least five hundred thousand dollars of cash laying around invested in the correct way according to the trinity study if you are going to follow
The four percent rule it means you need at least 50 percent in stocks and fifty percent in bonds and it needs to be invested long term in order for all this to work out to 99.7 probability of success so the criteria really is can you stop working right now and still be okay and live the rest of your life and basically retire not do anything productive until the day
You die now i think most people are not going to just not do anything productive like for myself i’m like kind of always itching to do something i’m always like making little bits of money here and there or else things is not interesting i don’t think it’s absolutely necessary to not work at all you’re you’re going to end up making some amount of money especially
If you’re interested in finance it’s like it’s just you know just small amounts of money or maybe big amounts of money just falls through the crack and you get more money anyway now if you happen to have your liquid assets invested in a high yield savings account right now and you’re a youtuber let’s say you’re getting two percent apy interest rates has been going
Up and you invested in sofi checking account which it gets 2.0 api right now which is one of the best i know discover savings only get 1.7 percent marcus you know it’s something lower than 2.0 percent so it’s really really good but it requires a direct deposit i do have a referral link down in the video description below for this if you have all of your money in
A high yield savings account your money is not appreciating enough for you to live off of so the criteria here would be is if you stop youtube will you have enough knowledge to take all of that stuff that’s in the high yield savings account and then invest it properly right so i think a more surefire way is to have it already invested properly then you can say
Oh yeah i got the gears kind of turning already i’m already getting a nice dividend from the vo that you invested right i think you get like two percent from there as well lastly this is more of a philosophical debate is if you love what you do i really like this idea of loving what you do because it really does seem to work and the japanese were to encompass all
Of this it’s called ikigai do you love what you do are you good at what you do does the world actually need whatever that you are doing and are you gonna get paid doing this right if all of these comes together then it’s like a happy symphony type of thing and you’ll be really happy doing it and you can just do it for life if you love what you do this is kind of
Like an overused thing right and people say you should love what you do otherwise why keep on working at it you’re just wasting your time why trade your time for money life is too short to do that so you better love what you do in the first place and this comes to this other thought that i’ve seen it come up quite often is well what if i love what i do already
But you know you don’t have the assets to retire right now but you really really love what you do and you argue that even if you have all the money in the world that you’re still going to keep on working at the same job let’s say you’re like in healthcare or something i think this happens a lot for people in healthcare that are caring for other people and they get
Really they have a really good feeling of reward they really like helping people or maybe if you work at an animal hospital or if you’re a veterinarian or a doctor right things that helps other people and then you get this very very good feedback so you really love what you do and the argument here is if you really love what you do can you say that you are retired
Already even if you don’t have the finances to back you up you cannot stop what you’re doing right now and retire because you’re not going to anyway because you don’t want to you just want to keep on doing that so are you really retiring the answer is i don’t think you are because you need the option to do it even if you’re not going to exercise option you need the
Option to do it you know in case let’s say your boss asks you to do something ridiculous or something maybe you have a health issue all of a sudden will you be able to decide one day that hey you know i have something that’s more important than this right now you can switch over to that and that’s part of being retired you have the freedom to choose what you want
To do and it might just be that your life priority changes sometimes from what you love for a certain thing you know you might love something else that you want to do so you can’t really say i love what you do and boom you know you can trick your mind into thinking that you are already retired and because you still have to work at your current job but i do also
Think that that’s a really enviable position to be in right because if you really love what you do and you truly believe that even if you know you have enough assets let’s say five to ten million dollars in the bank you still are going to keep on working at that particular job this is this is like people love this so like i would love this to have such a job and
I would say probably the first half of my career in engineering you know i i love it like i just love every aspect of it you know even even working like 10 hours a day i really love learning everything about it you know learning new programming languages it was just super fun for me and then you get all the co-workers that you’re interacting with right it’s just
Super fun this question is more for people that really love their job and then they say they’ll do it anyway if they could retire the question is if you won the lottery that is in the range of like five to ten million dollars not like a hundred million like not some crazy money right let’s say something a little bit more reasonable five to ten million you can buy
A nice house you can kind of retire and retire your whole entire family and you can probably help your parents out or whatnot and this amount of money should do it so this is kind of like a mental exercise for some people is if you want that kind of money will you still keep at your current job i think sometimes it’s a little difficult to imagine having this kind
Of freedom because once you have this money you might go well i don’t really have to stay here and then your mind starts to run wild you’re like i could be vacationing somewhere with this amount of money some people they say oh yeah i’m going to keep on working right but maybe they can do it for like a month or two but then as they’re working their job you start
To realize that there’s other things that you could be doing better with your time maybe you can you know absorb the world a little bit more travel or something there’s like a lot of different things that you can do instead of working at a job where you have a boss and they tell you what to do right this is this is there’s a lot of other things that’s better than
That i think can say you’re retired but only you really know if you’re retired or not i think for youtubers right if you are uploading videos like myself like people don’t really know if i really really love you know uploading videos and honestly i like making certain kind of videos but not all of them right sometimes it’s kind of like a grind and that becomes a
Job that piece of it becomes a job so you just have to be honest with yourself it’s like are you really really loving what you do or not how many percent of what you’re doing do you really love how many percent are you allowed to do that you don’t love and you’ll still be considered retired maybe you don’t love it at all so you better not do it because that’s just
A waste of time if you’re retired already so thanks for watching this video don’t forget to give me a like and subscribe for more thanks for watching foreign
Transcribed from video
Are YouTubers Really Retired By BeatTheBush