Amy Gardener wrote:Hi Rob. Retirement, in my experience, is a process of learning to trust your own inner guidance. We all have unique perspectives, opportunities and limitations. We mine our mistakes for knowledge and achieve wisdom. Like a garden, what I plant in my financial bed probably won't grow the same way in someone else's micro-climate. Being thrifty has served me well. I don't need to conform to what others tell me is "necessary" to thrive. Investing is complicated and institutions will always have better knowledge tools than the average individual. The simple, low cost, long-term strategy is like the tortoise that chugs along in the background. Like growing a food forest, it takes time and patience and just enough tending. That strategy has enabled me to diversify into other hands-on parts of life. The Permies website is a terrific place to hear from people who are taking alternative approaches to living life: this is diversification at work. The skills, knowledge, resourcefulness and profound creativity is an investment that pays dividends daily, tax free. Living more simply allows me to appreciate the natural world and protect the treasures that are available to all. Having a place to tinker and homestead is wonderful and mentally stimulating. Land speculation is a completely different activity.
Retirement to me means following my heart, protecting the fruits enabled by my younger self, and nurturing slow-growing trees that will comfort my future self.
Enjoy your unique journey Rob!
bruce Fine wrote:well you missed out on buying Fannie Mae or Freddie Mac stock at 75 cents a share when the market crashed in 2008/09-- stocks , 401k's will always go up then crash so beware, just my opinion. read the fine print on 401k agreement most likely the service fees will eat much of your estimated profit but you may need a lawyer to decipher the fine print. real estate is usually a good solid investment, campers and mobile homes are the only housing that is meant to decrease in value with age just like automobiles. retirement I guess is doing what you want when you want.
Leigh Tate wrote:The only thing I wish we'd been able to do was get our mortgage paid off before now. It's our only debt and we pay extra on the principal, but getting it paid off before retirement is the best advice.
S Bengi wrote:
With Half a million in the bank and a projected 10% return on investment, one could survive on just the interest. The stock market goes in cycle sometimes losing 50% of the principal other times making 20% on the principal so a whole million is needed to ride out such fluctuation.