The Retirement Bubble

I don’t remember all the details, but they are not important. His story is true and what lies behind it is the point that I want to make today. He was a university student in geology in the US state of Pennsylvania. If I remember correctly, a graduate student at Pennsylvania State University. It was the late 90’s and the Internet’s “world-wide web” (remember when we used that instead of just Web or Net?) was in its early stages. Websites were popping up, but they were few in number compared to today and most of us new website owners, including me, were climbing their own version of a learning curve as to how to reach people on the Net.

This young geologist-to-be was focused on the coal industry where he expected to work after graduation. He set up a very simple website. It was what we later called a “link library”, just a long list of links to websites on coal and articles on coal. Since he was researching for his studies anyhow, he was checking the Web every day and added whatever he found. He told some friends and they visited. Then more came from other universities. Finally, coal industry folks and related government agency personnel started visiting too. He began with a handful of readers, then dozens, then hundreds, then thousands, then tens of thousands and beyond.

Did he charge for the information he provided? No. Did he have paid advertising? No. Did he ask for or receive any money from site visitors? No.

Pretty dumb thing to do, right? No, not at all. I read about him, as I remember it, in the Wall Street Journal (a good indication of how well-known he had become) and I never heard what happened later. But when this young man finished his degree and walked into an office in the coal industry, looking for a job, he had something on his resume that no other new candidate could offer, regardless of their experience. I will bet he walked into offices where they immediately “knew” him, once they saw his website on his resume. Imagine, he had not worked a day in his life in a regular job, but he was better-known in the industry than pretty much anyone (probably everyone) he interviewed with. If that gentleman couldn’t parlay that website into a good job, I would be very, very surprised.

So, what does this have to do with you? As much as you make of it.

When that young man set up his website in the late 90’s, it took a lot of time, effort, and at least some technical knowledge. I know very well. I set up my first website in 1997 and it was no simple task for someone with no tech background at all.

Today, there are so many services providing “blogs” (just another kind of website), including the big ones like WordPress.org (this is a WordPress blog you are reading right now) and Blogger. They make it so much easier for a non-tech to set up a site that it borders on the ridiculous for those of us who started a decade or more ago. It takes effort, but people do it all the time and 99% have no tech background at all, none at all.

I am going to make an assumption now. I will assume that each of you has something that really interests you, but with which you have no training or background at this point. With a modest commitment of time and effort, you can set up an attractive blog of your own (for a small hosting fee at WordPress or for free at Blogger). You can write whatever you like, add photos, do whatever works for your particular subject. It can be a small part of your Life Sabbatical.

One thing should be topmost in your mind. Choose a subject, whatever it is, that really, really interests you! Too many people start blogs and then worry about choosing a topic that interests other people, not themselves. When they discover (as we all do) that it takes more time than they thought to attract readers, they drop their blog. They just aren’t interested in it. But if the topic is something important to them, something that really interests them, this can keep them going long enough to actually develop an audience.

And don’t get too focused on making money. If you have something to sell, fine, but there are also rewards that are every bit as important when you share with others, without asking them to pay for it.

Let me give you an example drawn from my own life in Panama.

Prior to and in my early months here, I read a lot of Panama websites. They were almost always commercial, at least covered with ads, and each had an “agenda” that clearly was meant to meet the needs of the site owner. Fair enough, but their need for money, in ads or sales, distorted their presentation in my mind. So I set up my own at RetirementWave.com. No ads. No books, tours, or “seminars”. No fees, commissions or any other revenue. If I found a home for sale, for example, that might interest my readers, I provided contact info for the owner, so no one had to go through me. There was no need as there were no fees or commissions involved.

Members of my website have asked me dozens and dozens of times over the years, why did you put up the website? I say, as a public service. They hesitate, then say, but how do you make any money? I say, I don’t. Another hesitation and they say, but why do you do it? And I say, as a public service.

It drives some of them crazy. I must be making money somehow. But they know I have never asked for money from them, so a few end up believing (and occasionally are bold enough to say so) that I am one or more of four things: 1) a liar; 2) crazy; 3) a fool, or 4) some kind of saint. All four are wrong (at least, I don’t think I’m crazy or a fool, and I know I am not a liar and certainly not a saint!).

But have I profited from Retirement Wave? Absolutely. I would go to look at land or homes that I thought might interest my members, something I rarely have the time to do these days, but did back then. A member came to me and asked me if I would be willing to look at some land at Lake Bayano, east of Panama City, as the owner wanted to sell. I had never heard of Lake Bayano and was very surprised to find that it was less than an hour and a half by car from the city. So I said, okay, I’ll take a look.

I fell in love with the area immediately. No doubt, this was worthy of mention at the site, but it troubled me. I wanted it for myself! I couldn’t afford what the owner wanted, so I went on my way and said nothing. Finally, a couple days later, I called him and said, I will buy it if you will accept my offer and be patient while I put the money together. He said, sure, and I am now the proud owner of that land! If you really care, you can see it at Flickr.

I had never expected this to happen and it certainly was not the reason for the website, but there it was and I was fortunate enough to have the opportunity simply because I had the website. No website, no land. Heck, I probably still wouldn’t know that Lake Bayano existed! So did I profit? Sure.

Like the young geology student, I found that to give really can mean some day to receive as well. But the giving comes first.
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