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  1. #1
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    Retirement plan for website owners?

    I have always wonder if there was some sort of retirement plan website owners can have. A normal person can retire from their job and continue receiving x,xxx a month.

    I have no intentions of running websites in my 60s lol. So is there a retirement plan for us Webmasters or do we have to run websites the rest of our lives?
    Founder and CEO of AreYouTaken.com

  2. #2
    Follow Me On Twitter: @djg gold trophysilver trophybronze trophy Dan Grossman's Avatar
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    Nobody's going to pay you a pension but you. You can put money in an individual retirement account, which can offer various tax benefits depending on what type it is. You can also get yourself a 401K, put money into CDs, a savings account, etc.

    When you employ yourself, it's up to you to save for your future. You should be saving some portion of your income each month.

  3. #3
    SitePoint Addict g1siberia's Avatar
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    wow, quite a concept. I had planned to simply automate my websites as much as possible so they would continue to be an income stream without my input. Or failing that to build them up as much as possible and liquidate them before retirement.

    I have no faith in any retirement scheme right now, nor the markets to make it worth your while to save Best take your financial future in hand yourself.

  4. #4
    SitePoint Wizard silver trophy
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    Quote Originally Posted by g1siberia View Post
    wow, quite a concept. I had planned to simply automate my websites as much as possible so they would continue to be an income stream without my input. Or failing that to build them up as much as possible and liquidate them before retirement.

    I have no faith in any retirement scheme right now, nor the markets to make it worth your while to save Best take your financial future in hand yourself.
    The idea that your sites will continue to drive revenue for the 20-30 years you may be without income is silly. By the same token if you're young there's really very little probability you'll still have sites making income by the time you retire. You may be able to sell for enough but you're talking about needing to make potentially millions of dollars (take the income you'll need to retire annually * the number of years you plan to live - taxes for the sale - inflation).

    While you may not be a fan of the open markets there's still a need to save money. Savings can be in the form of guaranteed interest programs or heck, you could even save without interest (although that would be fairly silly). The point is to approach the future being aware you will need money and put enough away bit by bit. While the markets may have tanked recently over the long haul compounding interest has always been a very, very powerful thing.
    - Ted S


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